[cryptography] Must have seemed like a good idea at the time

grarpamp grarpamp at gmail.com
Sun Jul 21 20:42:26 EDT 2013


> A number of projects have been launched to use cell phones as a money
> device, a smart card.  I am pretty sure if your malware can send sms, it can
> transfer funds.
>
> This not all that fatal, as the money is traceable, but it means that the
> financial institution needs an apparatus to reverse cell phone transactions,
> and that cell phone money is therefore soft on the may scale.

Bitcoin does not necessarily have or desire these properties.
Device security and open devices are important.


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