[2912] in cryptography@c2.net mail archive
Re: IP: "CyberCash can't oust credit cards"
daemon@ATHENA.MIT.EDU (Arnold G. Reinhold)
Tue Jul 7 13:22:13 1998
In-Reply-To: <v0401170bb1c67c2a2ef8@[139.167.130.246]>
Date: Tue, 7 Jul 1998 08:47:03 -0400
To: Robert Hettinga <rah@shipwright.com>,
Digital Bearer Settlement List <dbs@philodox.com>, cryptography@c2.net,
cypherpunks@toad.com
From: "Arnold G. Reinhold" <reinhold@world.std.com>
At 9:13 AM -0400 7/6/98, Robert Hettinga wrote:
>Hettinga's three laws of internet payment technology investment:
>
>1. Geodesic, peer-to-peer transactions.
>2. Three orders of magnitude cost reduction.
>3. Nothing but net.
>
>The application of the above to Cybercash, or SET, for that matter, I leave
>as an exercise for the reader...
>
Three orders of magnitude cost reduction as compared to what? I can
believe that much improvement over running my credit card thru an imprinter
and processing the paper slip. But I doubt you can get anything like1000X
over SET, ugly as it is.
Arnold Reinhold
