[12182] in cryptography@c2.net mail archive
Re: Micropayments, redux
daemon@ATHENA.MIT.EDU (Anton Stiglic)
Tue Dec 17 11:57:02 2002
From: "Anton Stiglic" <astiglic@okiok.com>
To: "Pete Chown" <Pete.Chown@skygate.co.uk>,
<cryptography@wasabisystems.com>
Date: Tue, 17 Dec 2002 10:46:26 -0500
> > Yes, but the probability of it being significantly worse than I claimed
> > (i.e., by more than a factor t) is exponentially small (in t). One can
> > easily calculate concretely exactly what the risk curve looks like.
> > I'll spare everyone the details and just say that I see no reason why
> > this should be a showstopper in practice.
>
> Actually I think it may be a showstopper in practice for rather
> different reasons -- people's behaviour when exposed to risks is rather
> odd.
There is no risk for the user in the new schemes (which is what Peppercoin
is developing)!
Read the paper and/or presentation Zulfikar referenced in his post.
The risk is for the Bank.
--Anton
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