Re: digital cash/legal tender

["Perry E. Metzger" <pmetzger@lehman.com>]

Ray says:
> > No digicash system can possibly operate under this constraint. Mere
> > numbers, unlike gold, can be duplicated. Without some sort of central
> > verification involved the techniques cannot work. I suppose "true"
> > digitcal cash by your definition is impossible.
> 
>    Doesn't Chaum's "observer" based system allow digi-coins to work?
> (e.g. by carrying around copy protection which prevents you from 'cp'ing
> cash instead of 'mv'ing it, or prevention of double spending?)

Such a system would depend on people trying to break the system being
unsophisticated. I do not believe you can rely on trick hardware to
provide "copy protection" for digital coins.

Perry