Yodels, new anonymous e-currency
According to this link, http://www.infoanarchy.org/?op=displaystory;sid=2002/11/11/4183/2039, a new form of digital cash called "yodels" is being offered anonymously:
Thanks to developments in anonymous communication, such as Freenet and the invisible irc project, anonymous digital cash has become a reality. Yodel Bank is offering 'yodels' as a form of currency you can exchange with people who you've never met outside of anonymous means. For example, you could pay for some web design or a hosting service anonymously, play video poker with real anonymous money on iip, or make a donation to a charity without disclosing who you are. Yodel Bank is relatively new, but now that you can transfer money over IIP and Freenet, a real vibrant anonymous economy is springing up, and it's unclear how goverments will react to this 'private' banking. Also it remains unclear if an Assassination Politics service will arise due to these technologies.
Supposedly, then, this is cash which can be transferred anonymously via IIP or Freenet. Leaving aside the question of trusting an anonymous bank (trust takes time), the sticking point for ecash is how to transfer between yodels and other currencies. Without transferability, what gives yodels their value?
The author of Yodel Bank can be reached on IIP under the name yodel on #yodel. He claims to be fully anonymous to the world, and has purchased the domain name and hosting by using his currency. He understands that trust is something that takes time to develop in an anonymous bank. I definately suggest you give his service a try.
So Mr. Yodel purchased his domain name (what domain name?) and his hosting by using yodels. If someone is selling these services for yodels, that could provide a limited basis for giving the currency value. An additional comment suggests that more information can be found at the Freenet address SSK@Mt3s3k7PCEUzbNW6zeI2oyRT0jgPAgM/yodel//. This is a "Freesite" and you need the Freenet software installed to access it.
-- On 12 Nov 2002 at 8:50, Nomen Nescio wrote:
According to this link, http://www.infoanarchy.org/?op=displaystory;sid=2002/11/11/4183/2039, a new form of digital cash called "yodels" is being offered anonymously:
[...]
Supposedly, then, this is cash which can be transferred anonymously via IIP or Freenet. Leaving aside the question of trusting an anonymous bank (trust takes time), the sticking point for ecash is how to transfer between yodels and other currencies. Without transferability, what gives yodels their value?
Alleged attempts to introduce internet currencies have a ninety percent humbug and fraud rate. If his currency works well enough that one can buy addresses with it, this indicates a somewhat surprising level of success. I will check out his currency, and see what there is to see. --digsig James A. Donald 6YeGpsZR+nOTh/cGwvITnSR3TdzclVpR0+pr3YYQdkG 46Ibm86cvcVoir/f4dSSPwM2gYCtHcpTds+N+jJq 4psLxBq0RMZOakFcGiILu6K8f4B1x/f6awQoD8K5c
Nomen Nescio quoted:
The author of Yodel Bank can be reached on IIP under the name yodel on #yodel. He claims to be fully anonymous to the world
Why? What for? It's the customers who need anonymity, not the Bank. It is now legal in the UK and the EU to issue "private money". You need a lot to start (euro100k or so) and you need to follow some regulations, but AFAIK customer anonymity isn't prohibited. I'm not clear on the details though. Started around the beginning of summer, sorry no ref's, but an inventive Googler should find something. I think Ben (Laurie) was interested in doing something along these lines. -- Peter Fairbrother
participants (4)
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Bill Stewart
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James A. Donald
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Nomen Nescio
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Peter Fairbrother