[Lucrative-L] lucrative accounts revisited

[Bill Frantz]

At 6:22 PM -0700 4/24/03, Patrick Chkoreff wrote:
>But that is simply not how it works.  Citibank issues coin X to Alice.
>Alice immediately swaps X with the server and obtains a new coin Y.
>Alice gives coin Y to Bob in return for kinky porn.  Bob immediately
>swaps Y with the server and obtains a new coin Z.  Bob gives coin Z to
>Citibank.  Citibank immediately swaps coin Z with the server and
>obtains a new coin A.  I do not see "linkage" here.  Citibank never
>sees X again.

The server is in a position to keep track of the money transfer by
recording the serial numbers of the old and new coins as the exchanges take
place.  The server is perfectly capable of making the linkage.  If you
don't trust the server, then you must believe that all your transfers are
know.

The advantage of the various blinding schemes is that your trust is in
mathematics and probability, not in the integrity of the server operators.

Cheers - Bill


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