[HN Gopher] The Digital Wallet of the Future (1996)
       ___________________________________________________________________
        
       The Digital Wallet of the Future (1996)
        
       Author : Lammy
       Score  : 39 points
       Date   : 2021-05-31 19:16 UTC (3 hours ago)
        
 (HTM) web link (buffalonews.com)
 (TXT) w3m dump (buffalonews.com)
        
       | smoldesu wrote:
       | >If you lose your wallet PC, replacing the actual device may cost
       | about what it does to replace a good camera -- several hundred
       | dollars, at least -- so you won't want to lose yours.
       | 
       | >On the other hand, replacing almost anything "in" the wallet,
       | from money to photos, will be simple and inexpensive because the
       | wallet will contain only digital information that can be traced,
       | replicated or retrieved from another location.
       | 
       | Love him or hate him, Gates had pretty damn good future sight
       | back in the 90s. It turned out not to be a panacea (see recent
       | events), but his focus on feeding a corporate world with money to
       | burn made him a rich man very quickly.
        
       | nickelcitymario wrote:
       | It's fascinating to go back and read predictive stuff like this.
       | He got so much right (digital wallet, replaceable, a small screen
       | in your pocket), yet missed the big picture that made it reality:
       | It's not a Wallet PC, it's a PC in your pocket that happens to
       | include a wallet as just one piece of available software.
       | 
       | There's an alternate reality where he figured that out sooner and
       | beat Apple and Google to the punch.
        
         | simonh wrote:
         | I'm reading Stephen Sinofsky's new book as he writes it, he's
         | blogging the chapters, and it up to just a few years earlier,
         | about 1993.
         | 
         | These are the operating systems they were developing at that
         | time. DOS, OS/2, Windows, Windows NT and Cairo. Each was a
         | different code base, different strategic vision and different
         | technical requirements. That's unbelievably stupid. They soon
         | ditched OS/2, DOS and the failed Cairo project, but then added
         | Windows CE.
         | 
         | They never valued and core technology. Each product or market
         | segment was addressed separately, from scratch by a new product
         | team. The compiler team barely talked to the tools team, who
         | developed separate tech from the applications teams who used
         | their own frameworks different from those provided by the OS
         | team. Most of the narrative is about teams talking past each
         | other in meetings and struggling to get them to work together.
         | It's nuts.
        
         | detaro wrote:
         | > _it 's a PC in your pocket that happens to include a wallet
         | as just one piece of available software._
         | 
         | I mean, that's what he's describing and what PocketPCs were?
         | That's not what the current crop of smartphones beat Microsoft
         | at.
        
         | petermcneeley wrote:
         | You might want to read this https://en.wikipedia.org/wiki/Unite
         | d_States_v._Microsoft_Cor....
        
       | [deleted]
        
       | nixarian wrote:
       | Keys last...how long? Electronics last...how long? Keys require
       | how much power? Electronics..? These people are out of touch with
       | reality.
        
         | IncRnd wrote:
         | The opinion piece by Gates was meant to describe a device that
         | could help sell more Windows software. None of the "industry
         | forecasting" really applied. He didn't care how much power the
         | device would use or how long the battery would last. He wanted
         | to sell more software.
        
       | amadeuspagel wrote:
       | > 451: Unavailable due to legal reasons
       | 
       | > We recognize you are attempting to access this website from a
       | country belonging to the European Economic Area (EEA) including
       | the EU which enforces the General Data Protection Regulation
       | (GDPR) and therefore access cannot be granted at this time. For
       | any issues, call (800) 777-8640.
        
         | ______- wrote:
         | https://archive.is/4c3NW
        
       | poundofshrimp wrote:
       | I suppose it wasn't obvious in 1996, even to someone like Bill
       | Gates, that mobile telecommunications and the "pocket PC" would
       | become intertwined and the former would drive the adoption of the
       | later.
        
       | jmvidal wrote:
       | The Apple Newton was shipping in 1993
       | https://en.wikipedia.org/wiki/Apple_Newton
        
         | simonh wrote:
         | Indeed, and General Magic was working on similar concepts.
         | Psion was doing well. The first Palm PDA came out the same
         | year, 1996. The DynaBook concept had been around for decades.
         | It's all about execution.
        
           | agumonkey wrote:
           | and waves
           | 
           | remember electric vehicles predates ICE ones
        
       | jancsika wrote:
       | Is there anyone out there discussing things like Ecash in the
       | cryptocurrency space, or has blockchain essentially eaten all
       | those brains in the short term?
       | 
       | Just seems like Ecash got so much right in terms of the
       | properties one would want for digital cash...
        
         | gruez wrote:
         | Because people who are into cryptocurrencies are in it for the
         | "not fiat" aspect, not the "electronic transactions" aspect. If
         | you care about the latter, credit cards and/or mobile wallets
         | adequately covers 90% of the use cases.
        
           | swiley wrote:
           | I don't know how you expect to come to reasonable conclusions
           | when you generalize that extremely.
        
         | kerng wrote:
         | I think the idea of Bitcoin enthusiasts is much more
         | foundational, than just having "digital cash".
         | 
         | I have been reading a book called "The Bitcoin Standard" which
         | highlights that the goal is a switch for society towards
         | Austrian economics and getting back to something like the gold
         | standard (Hint: Bitcoin is the better gold).
         | 
         | The book is quite good and I learned a lot about the history of
         | money - so I'd recommend it.
         | 
         | To paraphrase, the current cash printing is vaporware and not
         | backed by anything anymore - making it quite weak and easy to
         | attack - disaster waiting to happen. Central planning of
         | currency should be replaced by a democratic and capitalist
         | system where the best currency evolves naturally. Which might
         | or might not possibly happen with Bitcoin.
         | 
         | Something like a government bailout using tax payer money of a
         | "too big to fail" organization would not happen in such a world
         | - making the economic system a lot stronger for the
         | individuals.
        
           | [deleted]
        
           | harwoodleon wrote:
           | Bitcoin is not digital gold. Bitcoin is an extremely
           | expensive and uncensorable method of value transfer.
           | 
           | Nano is more like digital gold as it can be passed from hand
           | to hand with no fee, but like Bitcoin has a fixed
           | deflationary supply.
        
             | poundofshrimp wrote:
             | I think you got "gold" and "currency" mixed up. Gold is not
             | supposed to be cheap/free to exchange. It is a property of
             | a currency.
        
         | rictic wrote:
         | China's digital Yuan has some similar properties to Ecash. You
         | have horizontal privacy (you can spend your money without your
         | partners knowing how much you have or what you do with it), but
         | not vertical privacy (the government gets to know
         | _everything_).
         | 
         | They're even working on extending it to support offline
         | transactions.
         | 
         | This is a scary thing to put into any government's hands, let
         | alone the Chinese government's, but it has enough attractive
         | properties that it has a good chance of catching on.
        
       | pkt1975 wrote:
       | Blocked from the UK due to legal reasons.
        
       | abss wrote:
       | Not available in Europe.. Do you have other link?
        
         | madars wrote:
         | https://archive.is/4c3NW
        
         | Lammy wrote:
         | A substantially similar version is quoted in full on this
         | Windows CE history page:
         | https://www.hpcfactor.com/reviews/editorial/walletpc/
        
       | newbie578 wrote:
       | I still believe that the anti-trust case against Microsoft
       | completely changed the course of history.
       | 
       | Microsoft was left a shell of its former self, a wolf without
       | fangs, tired and exhausted from a battle of attrition, with the
       | biggest casualty being Gates himself who lost the inner drive to
       | lead such a huge company.
       | 
       | I do hope he plans to write a detailed biography one day, so that
       | we can see what his thought process back then was.
       | 
       | Apple wouldn't even exist honestly today if the anti-trust case
       | wasn't launched against Microsoft.
       | 
       | That is the very reason I cannot wait for Apple to get launched
       | with its own anti-trust, who knows what company will come to take
       | it's mantle.
        
         | the-dude wrote:
         | That is an interesting take. A take I have never heard of
         | before. A take I definitely do not agree with.
         | 
         | But it is an interesting take.
        
       | jbb_hn wrote:
       | And the original article has exactly ZERO comments.
       | 
       | A lot of his concepts were right, but the implementation isn't as
       | aggregated as predicted.
        
       ___________________________________________________________________
       (page generated 2021-05-31 23:00 UTC)