Re: No digital coins (was: Chaum on the wrong foot?)

[Marc Horowitz <marc@GZA.COM>]

>> What is wrong with large organizations per se?

This is way off-topic, but....

Large organizations have too much power.  Take a look at the sorts of
things Andrew Carnegie was able to do.  Like running at a loss in
order to squash small competitors.  That's where the Sherman antitrust
legislature comes from.  Before you call me a government-lover, I have
to say that I'm not sure which I find more abhorrent: "capitalist"
companies engaging in unfair business practices, or government
regulation.  If someone wants to explain how we can get away without
both (in personal email :-) I'd love to hear it.

I think the "right thing" is somewhere in between purely individual
transactions, with some sort of distributed trust model (the world is
too big for that to be tractable, I think), and the current model of
Huge Banks essentially controlling all money flow.  Fact is,
infrastructure costs money, and big organizations can amortize
one-time costs over more customers.

		Marc