[Cryptography] [ANNOUNCE] HashCash Digital Cash

[Alfie John]

On Wed, Jun 21, 2017 at 01:12:13PM -0700, Jameson Lopp wrote:
> 
> > HashCash is a full cash system. The current implementation uses
> > Bitcoin for the value base but that’s just because that’s a
> > convenient way to leverage existing networks at this point. HashCash
> > isn’t tied to Bitcoin in any fundamental way and could be overlaid
> > on any value base.  Eventually I expect to see HashCash vaults based
> > on precious metals, which is really the only way to have sound
> > digital cash.
> >
> > HashCash is useful for tons of situations where Bitcoin is not:
> > Buying coffee, micropayments, non-geek users, users without Internet
> > access…
> >
> >
> Assuming that you can convince your counterparty to trust whatever vault
> you're using, right? Seems like a bit of a bootstrapping problem in order
> to gain much network effect. In order to maximize utility, wouldn't
> HashCash likely consolidate into a smaller number of highly trafficked
> vaults?

Maybe I'm missed it too. As HashCash isn't using a ledger, how do you
prevent double spend? I think it's dead in the water if users need to
trust a third party - that's the whole reason why Bitcoin was a game
changer.

Alfie

--
Alfie John
https://www.alfie.wtf