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@ -1383,8 +1383,8 @@ especially given that the digital wallet is likely to only contain a
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% I changed it to ``available funds'', but I meant _all_ the money
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% he has.
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small fraction of the customer's available funds. As a result, Taler
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improves usability if the customer is able to withdraw funds once to
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then facilitate many micropayments, while Taler is likely less usable
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improves usability if the customer withdraws funds once to
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then perform many micropayments, while Taler is likely less usable
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if for each transaction the customer first visits the bank to withdraw
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funds. This is {\em deliberate}, as Taler can only achieve reasonable
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privacy for customers if they keep a balance in their wallet, as
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@ -1400,7 +1400,7 @@ Taler in one interesting point, namely that the wallet is given
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details about the contract the user enters (steps 7 to 11).
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However, in contrast to Taler, Bitcoin wallets are expected
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to fetch the ``invoice'' from the merchant. In Taler, the browser
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can provide the Taler wallet with the proposed contract directly. In
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can provide the proposed contract directly to the wallet. In
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PayPal and 3DS, the user is left without a cryptographically secured
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receipt.
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@ -1430,13 +1430,15 @@ counterfeit money.
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% about maintaining change and depositing the money earned
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% CG: No, it's not optional, ``should'' doesn't come into the equation
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% here. It's a mandatory business expense.
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Furthermore, merchants have the cost of maintaining change and depositing
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the money earned. At the extreme, there is no definitive time until a
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Bitcoin payment can be said to be confirmed (step 19, Figure~\ref{fig:bitcoin}),
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leaving merchants in a bit of a tricky situation.
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Furthermore, with cash merchants have the cost of maintaining change
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and depositing the money earned. The most extreme case for lack of
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assurances upon ``completion'' is Bitcoin, where there is no time
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until a payment can be said to be definitively confirmed (step 19,
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Figure~\ref{fig:bitcoin}), leaving merchants in a bit of a tricky
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situation.
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Finally, attempts to address the scalability hudles of Bitcoin using
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side-chains or schemes like BOLT introduces semi-centralized
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side-chains or schemes like BOLT introduce semi-centralized
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intermediaries, not wholey unlike Taler's use of exchanges. Compared
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to BOLT, we would expect a Taler exchange operating in BTC to offer
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stronger security to all parties and stronger anonymity to customers,
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@ -1489,8 +1491,8 @@ note that sharing coins by copying the respective private keys across
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devices is not taxable: the exchange is not involved, no contracts are
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signed, and no records for taxation are created. However, the
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involved entities must trust each other, because after copying a private
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key both parties could spend the coins, but only the first transaction
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will succeed. Given this crucial limitation
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key both parties could try to spend the coins, but only the first
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transaction will succeed. Given this crucial limitation
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inherent in sharing keys, we consider it ethically acceptable that
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sharing is not taxable.
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@ -1502,7 +1504,9 @@ desired, the {\em reserve} would still need to be tied to a particular
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citizen's identity for tax purposes, and thus require similar
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identification protocols as commonly used for establishing a bank
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account. As such, in terms of institutions, one would expect this
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setup to be offered most easily by traditional banks.
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setup to be offered most easily by traditional banks, effectively
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merging the technical concepts of a (traditional) bank accounts and
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Taler reserves into one service for the customer.
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In terms of usability, transactional
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transfers are just as easy as sharing when performed over NFC, but
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@ -1514,7 +1518,7 @@ needs to be assured.
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\section{Conclusion}
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\section{Conclusions}
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Customers and merchants should be able to easily adapt their existing
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mental models and technical infrastructure to Taler. In contrast,
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@ -1530,7 +1534,8 @@ and usability.
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% That should be intuitive.
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We expect that electronic wallets that automatically collect digitally
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signed receipts for transactions will become commonplace.
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In this way, Taler gives the user full control over the usage of their
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By providing a free software wallet, Taler gives the user full control
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over the usage of their
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transaction history, as opposed to giving control to big data corporations.
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\begin{center}
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