[118199] in Cypherpunks
Re: e-gold to cash in 3 easy steps
daemon@ATHENA.MIT.EDU (Anonymous)
Tue Sep 21 20:30:33 1999
Date: Wed, 22 Sep 1999 01:03:36 +0200 (CEST)
Message-Id: <199909212303.BAA04194@mail.replay.com>
From: Anonymous <nobody@replay.com>
To: cypherpunks@cyberpass.net
Reply-To: Anonymous <nobody@replay.com>
> The solution for marrying e-gold to the ortodox cash is not
> software or algorythms. It's much simpler.
>
> What is called for is hard to forge and cheap to manufacture
> physical token (call it Ob) with embedded unique number.
A question, a comment, and a concern:
Question: How exactly is the Ob associated with a particular e-gold
account? Is the embedded unique number in the Ob listed as the owner
of the e-gold account? What was that business about encrypting the
account number?
Somehow the receiver of an Ob has to know that it corresponds to a
particular e-gold account (and that no other Ob has that same number).
Your writeup wasn't too clear about how that is done.
Comment: You know what Obs sound like? Gold coins. Unforgeable, true
cash, valued in gold, untraceable without considerable effort.
Concern: This system is not as anonymous as the payment methods
cypherpunks have traditionally supported. Each Ob has a unique number
which can be used to recognize it after it has changed hands. Yes, it
can pass through many hands before redemption, but this only provides
a limited degree of privacy. It is "anonymity through obscurity".
