Quote from: llama on July 18, 2010, 00:03:29
This is a good start, but still not impermeable.

I didn’t say impermeable, I said good-enough.  The loss in practice would be far lower than with credit cards.

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(for example, by refusing to propogate word of the transaction at the vending machine)

No, the vending machine talks to a big service provider (aka payment processor) that provides this service to many merchants.  Think something like a credit card processor with a new job.  They would have many well connected network nodes.

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