Theft Attempt or LEO Sting?

[R. A. Hettinga]

At 12:21 AM -0700 on 6/15/02, Morlock Elloi wrote:


> The security is proportional to wetware cycles burned per transaction.

I guess I don't think that's right.

Sooner, hopefully rather than later, machines will be able to buy things
from other machines using on-line cash.

The risk will be absorbed by having a multitude of underwriters of cash
instead of a single issuer for all cash, so you're partly right.

But the point is, you can have an authenticated on-line transaction, at
least at a risk low enough to move all kinds of money around safely.

Cheers,
RAH


-- 
-----------------
R. A. Hettinga <mailto: rah at ibuc.com>
The Internet Bearer Underwriting Corporation <http://www.ibuc.com/>
44 Farquhar Street, Boston, MA 02131 USA
"... however it may deserve respect for its usefulness and antiquity,
[predicting the end of the world] has not been found agreeable to
experience." -- Edward Gibbon, 'Decline and Fall of the Roman Empire'