Re: ncash? (was Re: pgp details)

On Aug 26, 13:47, Mike wrote:
} Subject: Re: ncash? (was Re: pgp details)
> Lucky Green wrote:
> >It doesn't provide payee anonymity, coins are neither divisible nor
> transferable, why do you bother?
> 
> Could it be... because Chaum won't license?

That's not nescessary, actually.  All you need is for the mint to put _no_
information at with the coin except it's serial number and a signatrue
(possibly a timestamp as well).  Voila, anonymity.  I was thinking of
implementing a low-cost server ofthis type, but there's the trust problem: this
nym is relatively new...

> Any ecash is better than none, and until Chaum's patent expire we
> probably won't have an ecash system with all the bells and whistles.
> Just consider that Mark Twain has been up for two years and they still
> don't have a client that implements crash recovery (recover your money
> if your disk crashes)! At last count they had all of 32 merchants signed
> up.

There might be other reasons for this:  have you looked at their _fees_???
Holy crap!  That's the only reason I don't have an account.  They're charging
top dollar for every aspect of a system that has it's only overhead in minimal
amounts of CPU time.  I was thinking of having my server charge only on
deposit of real money and only a tiny amount (like 1-2%).  I.e. no charge at
all to open an account to recieve money...

Feanor wrote:
>There might be other reasons for this:  have you looked at their _fees_???
>Holy crap!  That's the only reason I don't have an account.  They're charging
>top dollar for every aspect of a system that has it's only overhead in
minimal
>amounts of CPU time.

A lot of MTB's overhead is probably paper work. It's a US "know your
customer" bank.

Why ain't any offshore banks doing ecash?

Mike.

On Fri, 29 Aug 1997, Mike wrote:

> Why ain't any offshore banks doing ecash?

There is IIRC an australian bank doing ecash.

-- 
Please excuse my spelling as I suffer from agraphia see the url in my header. 
Never trust a country with more peaple then sheep.  ex-net.scum and proud
You Say To People "Throw Off Your Chains" And They Make New Chains For
Themselves? --Terry Pratchett

? the Platypus {aka David Formosa} wrote:
>There is IIRC an australian bank doing ecash.

Sure, but Oz is onshore. An offshore bank is one that offers their services
primarily to foreigners, and it is usually located in a tax haven.

As far as I know, Mark Twain is the only bank in the known universe that
accepts foreign ecash customers, and their client software is the only one
that can lose your money. Chaum really has his priorities upside down.

Mike.