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Re: newsweek oct 30 Levy digital cash article
[stuff about losing e-cash]
They already point out that you shouldn't hoard money on
your own machine.
I've been doing what I can to pitch in and help out, including
some suggested edits to their materials. Here's my suggested
rewording of that section:
Ecash that you keep on the hard drive is like cash. It can be erased
accidentally in the event of a hard drive crash or other system problem.
While we do have safeguards against this, there is a possibility you
could lose money if your ecash files are lost.
Money in the Ecash Mint is also like cash. Although the Mint is well-
secured and maintained by computer professionals, it is a new,
somewhat experimental system. Also, it is connected to the Internet.
While we have taken many steps to ensure the Mint's security, we cannot
at this time make the same guarrantees we'd make for a regular bank
Because of these factors, we strongly urge you to keep your balances in
the Mint and on your hard drive fairly low. A good rule of thumb is
to have no more money on your personal computer than you'd be comfortable
carrying in your wallet in a typical American city. Don't leave more
money in the Mint than you'd be comfortable leaving stashed in a drawer
in your house.