Why emoney? Why not a web of debt?
Q Mixmaster Remailer
Anonymous at c2.org
Sat Jan 21 15:35:08 PST 1995
> Date: Sat, 21 Jan 1995 15:18:48 +1300
> From: davidm at iconz.co.nz (David Murray)
>
> But of course, since ecash is worth only what you can get for it, the web of
> trust model, since it reflects what people will give for it, seems to
> reflect that underlying value much better.
Oh... Nice... I hadn't thought of that...
> The best way to underpin the value of ecash is for the issuer to (credibly)
> undertake to convert it into real money.
And since I would only make the promise to the few people that I am
connected to in the debt-trust web, this is doable. I doubt I could
convince all of you that I was good for $10, but I bet there are a few
readers on this list that I *could* convince. They would be able to
convince a few others that _they_ are worth $10, etc.
This system might even dodge the laws governing banking in various
jurisdictions ... though I doubt it. It quacks, waddles, and water
runs off its back...
Noyb
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