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