> Julian, for the average consumer there is no doubt you are correct. For a
> business or bank moving thousands or millions of dollars, the risk of loss
> is definitely worth the hassle of getting the smart card.
So the logic here is that the average consumer is too stupid, unwilling to
learn, and/or unaccepting of new technology to CHA (as opposed to CYA;
his/her).
Therefore, don't make the upgrades for the average consumers. Instead,
make it for the banks and businesses. However, corporations aren't any
more intelligent, willing to learn, or accepting of new technology than
the average consumer is. In fact, they usually have quite a bit less of
all of those qualities.
> For the retail merchant the cumulative loss due to credit card fraud (the
> merchant eats it) may well be worth the hassle of convincing his customers
> to go through the hassle of getting smart cards and readers.
I have strong issues against using smart cards. Widespread, everyday use
of smart cards will be an end to the few remaining shreds of privacy that
we still have. Why not simply implant microchips into everybody? It is
basically the same thing.
> Due to the fact that e-gold is a small fish in the financial pond, most of
> the fraud is presently involving credit cards.
The petty fraud is. However, there is also a lot of fraud over any means
of transferring value that has any degree of repudiabillity. I wouldn't be
suprised if somebody has, or will, tried to exchange counterfeit fiat
paper for e-gold.
> However, as e-gold increases in popularity, fraud will become more common.
What does this have to do with security issues that haven't been rehashed
on this list ad naseum?
> I suspect that one the hassle from the fraud reaches a certain threshhold,
> e-gold will upgrade to a more secure system.
Either that, or they could tell people to read the rules, maintain proper
security measures, and be SELF-RESPONSIBLE! Wait, never mind, that would
not allow people, and corporations, to blame somebody else for everything
that didn't happen the way they like.
"It's not my fault!! Somebody put a trojan virus on my computer!"
Viking Coder
________________
Worth Two Cents?
http://www.2cw.org/VikingCoder
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