IP: "CyberCash can't oust credit cards"

[Arnold G. Reinhold]

At 9:13 AM -0400 7/6/98, Robert Hettinga wrote:
>Hettinga's three laws of internet payment technology investment:
>
>1. Geodesic, peer-to-peer transactions.
>2. Three orders of magnitude cost reduction.
>3. Nothing but net.
>
>The application of the above to Cybercash, or SET, for that matter, I leave
>as an exercise for the reader...
>

Three orders of magnitude cost reduction as compared to what?  I can
believe that much improvement over running my credit card thru an imprinter
and processing the paper slip.  But I doubt you can get anything like1000X
over SET, ugly as it is.

Arnold Reinhold