encryption prevents the eavsedropping, and you can't do multiple payments
like that, that's the whole point of not using a credit card ;)
Trusting third parties is an issue, do you trust your bank? Multiple third
parties would protect against an identity disclosure at a bit more risk of
interrupting the money flow (just like cypherpunk re-mailers)
I rely on reputation as to how safe my money is with people, if I here
someone is always reliable and no one complains about them I give them some
trust, this requires some thinking when it is a significant amount of money,
for 'please store my 100k page for a year' just how much money are you
asking?
But yes, some one somewhere (or even preferably, more than one) must reveal
enough to be trusted and willing to handle anonymous money. It does require
that they build up a good reputation, if most of the transactions are small
then why would they wreck that? Much better to charge a small fee and skim
a couple of percent off the movement.
cya, Andrew...
> -----Original Message-----
> From: Greg Wooledge [SMTP:[EMAIL PROTECTED]]
> Sent: Thursday, May 24, 2001 6:37 PM
> To: [EMAIL PROTECTED]
> Subject: Re: [FreeNet-chat] Yet another damn 'permanence' proposal
>
> McMeikan, Andrew ([EMAIL PROTECTED]) wrote:
>
> > with technocash/digicash/digigold there is no problems the value can be
> > encrypted and sent with the spenders id unrevealed,
>
> Yes, but how do you prevent a "replay attack"? Either by the person who
> was supposed to receive the payment (what stops them from deducting a
> larger amount than they're supposed to by simply using your signed
> payment multiple times); or by an eavesdropper who intercepts the signed
> payment?
>
> (I'm not saying it can't be done; just playing devil's advocate. If
> you implement a system that involves real money, you'd better be *damned*
> sure you've got all these details taken care of!)
>
> > for easier currencies
> > like e-gold/paypal you need a third party that changes these to a more
> > anonymous payment (any one who likes that idea pleas feel free to join
> up at
> > http://www.egroups.com/group/goldenagents ) ; several already exist
>
> This is a slightly more serious issue. Do you trust this third party not
> to reveal your identity? How stable is this third party, financially --
> will they go bankrupt next year?
>
> --
> Greg Wooledge | "Truth belongs to everybody."
> [EMAIL PROTECTED] | - The Red Hot Chili Peppers
> http://wooledge.org/~greg/ |
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