[Moderator's note: I'd called an end to this but this one insight was
quite cute. --Perry]
At 04:05 PM 2/10/02, you wrote:
Also unlike bar codes, RFIDS can be read
remotely without having to be in the line of sight of the reader.
My, how convenient this is for the pickpockets and
I predict a new EMP vandalism tool that fries the moneychip.
And provides an alibi to passers of notes with no working chip.
You are, of course, assuming that RFID money that has been
damaged will still be accepted without manual processing
delays to the putative depositor. I can, after
I don't know whether to smile, or call you an arsehole, you give few clues -
economic growth?.
I just hope that if your suggestion is taken up then all the bills that are
declared invalid belong to you, and thus not to me or anyone else.
:)
Even credit card invalidity is not thoroughly
Old money is analogue, and therefore decays in a gradual
fashion. The Treasury (via the banks) culls fading bills.
An RFID would be digital and would fail catastrophically.
This is an important difference.
[Moderator's note: enough on the RFID now. It is far away from crypto. -Perry]
http://www.economist.com/printedition/displayStory.cfm?Story_ID=975746CFID=301055CFTOKEN=47471685
Where's the smart money?
Feb 7th 2002
From The Economist print edition
Money of the future may almost literally talk
AMERICAN banknotes bear the motto In God we trust. A humorous extension
