[42401] in Cypherpunks
Re: Mark Twain Bank's DigiCash offer
daemon@ATHENA.MIT.EDU (Hal)
Thu Oct 26 23:13:58 1995
Date: Thu, 26 Oct 1995 19:59:38 -0700
From: Hal <hfinney@shell.portal.com>
To: cypherpunks@toad.com
John Gilmore <gnu@toad.com> writes:
> * You pay 4% -- in the BEST deal -- on every transaction. The
> high-initial-fee merchant account still charges you 2% on
> the way in, and 2% on the way out. You don't even have to
> spend any of it, you pay for just moving money among your
> accounts. If both payer and payee are using one of the
> low-initial-fee accounts, the total loss could be as much as
> 10%.
As far as I can tell there is no charge for moving funds between your
ecash wallet and the "mint" at the bank. The charges are for moving
between the "mint" and the world access account. If you had a shop
which was able to pay much of its expenditures in ecash it sounds like
there would be no percentage fee to the bank.
Hal
