-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 James wrote:
>It would seem far more sensible, since the US dollar is now far >better accepted as a medium of exchange, to have something like >e-gold, but providing convertibility to Federal Reserve dollars, >based on fractional reserves. Interesting thought, but have you worked out what kind of mechanism you'd use to implement this without undermining your system? Seems problematic, but a lot better than nothing. What Would Mises Do? ;) More generally, it's seems you'll have an uphill psychological battle trying to convince your average gold bug with a closet-safe full of coins to buy into the non-tangible cypherspace version--warranted or not, just the mention of the phrase "fractional reserve" might be enough to spook them away. What advantages can you offer that will convince "Joe Gold Bug" he's better off trusting you than keeping his physical gold in his physical hands? Or is this yet another case of designing crypto systems for those who already know enough to appreciate them, the un-Elect be damned? As the owner of a portable closet-safe full of silver myself, I think the trust issues need a little more resolution before I start anonymously turning over my assets online. Actually, a lot more, in light of the recent news. Oh well, any links or pointers that deal specifically with the trust question would be welcome. ~Faustine. *** He that would make his own liberty secure must guard even his enemy from oppression; for if he violates this duty he establishes a precedent that will reach to himself. - --Thomas Paine -----BEGIN PGP SIGNATURE----- Version: PGPsdk version 1.7.1 (C) 1997-1999 Network Associates, Inc. and its affiliated companies. (Diffie-Helman/DSS-only version) iQA/AwUBPKZgx/g5Tuca7bfvEQInLACdFH/zqxTycxRMjTQFD+xicxhDsjYAn0ic FLQbzgbdcohUJBxYihgdTNNF =R0en -----END PGP SIGNATURE-----
