[cryptography] Must have seemed like a good idea at the time
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.
More information about the cryptography