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A comment on 'Minting' electronic cash (1999). Parent comment

Re:'Minting' electronic cash (1999) by billytetrud on Friday April 30, 2021 @10:10PM (#27002262)
> This is a nice property because it allows the bank to issue blacklists of cheating users

That property consequently allows a bank to black list any user, not just cheating users. There are many situations where that can be not so nice. In bitcoin, cheating isn't even feasible. It's better to prevent cheating entirely than to black list cheaters after the fact.

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Re:'Minting' electronic cash (1999) by betterunix2 on Saturday May 01, 2021 @07:33AM (#27005402)
Did you actually read what I wrote? The full tracing property means that when double spending is detected, the bank can identify all coins that the cheating user spent. Honest users remain anonymous, which is the basic security property of ecash (and a property that Bitcoin does not achieve).

Also, this may seem pedantic, but cheating is entirely feasible in Bitcoin. In Bitcoin the honest users must perform more computation than the attackers, but that means that an attack must be feasible (as the effort of honest users must be feasible for anyone to use the system).

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