ecash, cut & choose and private credentials (Re: Jim Bell)

[Ray Dillinger]

On Mon, 4 Dec 2000, Adam Back wrote:


>The protocols you list are online.  Not that this is a bad thing -- I
>kind of prefer the online idea -- rather than the "and then you go to
>jail" implications of fraud tracing in the offline protocols.  Plus
>you have a risk of accidentally double spending if your computer
>crashes or something.

I think that would depend on the banker.  "Bob spent this hundred 
dollars three times," muses Alice.  "Check and see if he's got 
overdraft protection for the extra two hundred...  if he doesn't, 
then put it on his credit card with a fifteen dollar loan orignation 
fee and charge him two percent a month...."  Jail time, in most 
cases, probably just isn't profitable for the bankers.  After all, 
how are you going to soak the guy for fees and interest if he's 
behind bars?


				Bear