e$ seigniorage (and is this the cost of untracability?)

[Gary Howland]

Wei Dai wrote:
> 
> On Sat, 6 Apr 1996, Gary Howland wrote:
> 
> >     - What will be the typical time between the withdrawal of ecash
> >         and it being deposited?
> 
> I think this will depend on how easy it is to withdraw ecash.  If the
> client software includes an option of automaticly withdrawing ecash from
> the bank when you don't have enough ecash to pay for the current purchase
> (thereby reducing the time between withdrawal and deposit to zero), then I
> suspect most people will use it, even though (anticipating your next
> question) this compromises their untraceability.

Interesting note - I think that if the time between withdrawal and deposit
ever reaches zero, then we have a e-cheque system (which is fully traceable).