On Thu, 11 Apr 2002, Pat Farrell wrote:
> At 01:43 AM 4/11/2002 -0500, Jim Choate wrote:
> >On Wed, 10 Apr 2002, Pat Farrell wrote:
> >> Banks exchange bits thru the ACH networks based on
> >> a belief that their exchange is valid.
> >
> >No, they exchange bits based on a very expensive and complicated protocol
> >that has a variety of safe guards built into it.
>
> You are, of course, entitled to your own opinion.
> My work at CyberCash, where we did the exchanges over ACH and
> Vital and other networks shows that the protocols
> were not actually very expensive or strongly complicated.
Cost more than a few $k to setup? Yes?
Then they're 'expensive'.
> Baroque, yes, overly complex to imply security by obscurity, yes.
> and to serve as a barrier to entry to keep out the unwashed and untrusted,
> of course yes.
Thank you for making my point so clearly.
--
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The law is applied philosophy and a philosphical system is
only as valid as its first principles.
James Patrick Kelly - "Wildlife"
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