"Spoiling" digital cash

[Jim Choate]

On Tue, 11 Dec 2001, Anonymous wrote:

> To rip the coin, the passenger gives the taxi driver t = s^e1, along
> with x.  The driver can verify that t^e2 = s^(e1*e2) = s^e1 = x mod n
> which tells him that it is a real coin.  He also sends (t, x) to the
> bank, which verifies that no such x has been spent before (no double
> spending) and also stores x as a ripped coin such that only the driver
> can spend it.

Who pays for all this checking? Not only does this require the taxi driver
to have a considerable store of computational and algorithmic 'equipment'
but he's also got to have a comm channel to the bank.

This don't sound cheap to execute at all...


 --
    ____________________________________________________________________

             Day by day the Penguins are making me lose my mind.

                                             Bumper Sticker

       The Armadillo Group       ,::////;::-.          James Choate
       Austin, Tx               /:'///// ``::>/|/      ravage at ssz.com
       www.ssz.com            .',  ||||    `/( e\      512-451-7087
                           -====~~mm-'`-```-mm --'-
    --------------------------------------------------------------------