[EMAIL PROTECTED] said, > Firm warning to all of those out there running DGCs (the Geoffs, Dougs, > and Jims of the world) -- and in a lesser way everyone involved in DGC- > related issues like DGC-banking and DGC-exchanging -- that the charge of > handling the money of tens of thousands of individuals is a SACRED DUTY. > > Remember -- money only stays with the virtues, and money is virtue. This resonates. But there is a logical paradox here, that only virtuous fiduciaries will pay any attention to admonitions like that. Could somebody refresh my memory, by enumerating the possible alternatives which reduce the level of dependency on the honesty and principles of fiduciaries? 1. form an industry org, make rules, expel violators. Not a bad idea, and, one which has proven necessary in every other profession. This could be doubly useful in DBC communities by serving as the foundation for webs of trust. Done right, all the world's people would gradually come to the WoT for membership, gradually rendering banks and governments downtown irrelevant. They will have fits. 2. schemes which achieve separation of duties, preferably having multiple alternative models. 2,3,4.. etc people. Preferably, not so crude as to require the passing of title to DBC as their mechanism. Perhaps something like a voting system. 3. schemes which have both strong authentication and systems of reputation, 4. schemes which don't close, in which errors can be rolled back? 5. schemes that have insurance companies underwriting the relevant loss exposures. I think the components of a durable DBC economy are staring us in the face, and they will be based on these human and cultural structures more than technology, going forward, Todd All my kingdom for a secure signing device with a viewing screen and keypad for numeric PIN, having keys for signing whatever contract is displayed. And which cannot be cracked. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Did you know that e-gold Ltd. stores more gold on behalf of customers than many countries? See http://www.gold.org/Gra/Gra1.htm and the e-gold Examiner at http://www.e-gold.com/examiner.html for details.
