Digital Cash

[Joe Thomas]

On Tue, 3 May 1994, Black Unicorn wrote:

> So has anyone tried to solve the problem of double spending and
> the online requirement of digital cash?

Sure.  Stay jacked-in full time.

Seriously, communications costs are dropping so fast, I'm not sure why
you'd put much effort into designing a bulletproof offline system.  Even 
with today's technology, a shopkeeper could just have a $17.50/mo. Netcom 
account and run his Magic Money client whenever someone wanted to pay 
with bits.  Certainly no more expensive than a credit card Verifone.

But this question comes up often enough that I'm afraid I'm missing 
something.  Why would offline systems be more useful?

Joe