[cryptography] Digital cash in the news...

James A. Donald jamesd at echeque.com
Tue Jun 14 05:17:37 EDT 2011

On 2011-06-14 2:19 PM, Steven Bellovin wrote:
> In my opinion, the post you
> were replying to is worse than impolite; it's racist crap that
> -- apart from being factually incorrect  -- is utterly irrelevant
> to anything even vaguely connected to this list.

The question is, should we rely on cryptographic enforcement 
transactions, in which case bitcoin or something like it is a good idea, 
or state enforcement of transactions, in which case it is a bad idea.

The character of the transactions enforced by the state indicates that 
something like bitcoin is a good idea.

I am pretty sure that you would find any accurate depiction of those 
transactions racist and offensive.  Indeed, the reason people find it 
strangely difficult to accurately report what happened is because race 
was absolutely central to what happened.  The US government is throwing 
money at voter blocks defined by race, destroying the financial system 
in the process.  In other countries, the government is also using the 
banks to throw money at voter blocks, but for the most part not racially 
defined voter blocks.

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