IP: "CyberCash can't oust credit cards"

[John R Levine]

> >2. Three orders of magnitude cost reduction.

CyberCash's entire business model for e-cash is wrong.  They ask for a 4%
slice of each transaction, which is absurd.  How much do issuers of real cash
ask per transaction?  Zero, of course. 

As I've mentioned before, the way you make money with money is seignorage,
that is you print it and make your profit on the float and on coins that are
never redeemed.  Works great for travellers checks.  I suspect that Bob H.
would agree. 

Regards,
John Levine, johnl at iecc.com, Primary Perpetrator of "The Internet for Dummies",
Information Superhighwayman wanna-be, http://iecc.com/johnl, Sewer Commissioner
Finger for PGP key, f'print = 3A 5B D0 3F D9 A0 6A A4  2D AC 1E 9E A6 36 A3 47