Paul Moses:
3) The [ATM] card then becomes a bearer instrument of sorts. No big deal; IT'S JUST LIKE MONEY.
It is a big deal. Many people like carrying ID-based cards (ATM w/PIN, credit cards, etc.) so they aren't easy targets for violent thieves. Although this reaches equlilibrium -- as long as most people use credit cards instead of cash, a few of us can still carry around cash as long as we don't wave it around too much. Targets of opportunity these days include late-night ATM customers. Query: what will be the last businesses to install ATM terminals? A couple that come to mind right away: * rural businesses (poor net access) * pawn shops (desire for privacy -- though I continue to be amazed how many people create dossiers on themselves by calling 1-900 phone sex numbers, renting X-rated vids with credit card, etc.) Nick Szabo szabo@netcom.com