Re: Cypherpunks defeat?

[Lazlo Toth <lazlototh@hempseed.com>]

On or about 11:49 PM +0100 9/28/98, Adam Back wrote:
>You want to buy ecash tokens with plastic.  Ideally you want to be
>able to buy ecash tokens with an ATM card because you don't want to
>incur any withdrawal fee (ATM withdrawals incur no transaction fee the
>UK, US may be different.)

In the case of my US bank it's the opposite:  ATM withdrawals, unless I use
a machine owned by my bank, cost me US$1.50.  Credit card fees on the other
hand are paid by the merchant, who is contractually bound NOT to pass them
on to me.

>Buying ecash tokens with a credit card is going to result in the cash
>advance minimum fee, plus unwanted (and typically double digit APR)
>interest on the "advance".
>
>Debit cards are a bit cheaper, but still incur some fee (unless a bank
>could be persuaded to waive it for this class of transaction).

My debit card functions as both ATM and credit card.  When given a choice I
will always prefer to use it as a credit card, which costs me nothing.

-Lazlo