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Mar 6th 2007
All this talk about e-currency transmissions made me think about a couple of articles I read the other day. They concern e-gold. Both are extremely well written, researched and credible. The second article is in 3 parts.
- E-Gold Gets Tough on Crime
- Understanding This Comment: “Anyone Using E-gold Can End Up In Jail” Pt. 1 of 3
- Understanding This Comment: “Anyone Using E-gold Can End Up In Jail” Pt. 2 of 3
- Pt. 3 of 3 - Understanding This Comment: “Anyone Using E-gold Can End Up In Jail”
JMO - Sharon
Popularity: 2% [?]
Nice post Sharon!
This very interesting… and scary! :S
Hi,
It seems e-Gold is having all these issues, problems and bad press. What about e-bullion and pecunix ?
I don’t hear such things about them. Are they operating differently or legally ?
If so, we should migrate from e-Gold to them. Right ??
John,
I haven’t looked into e-bullion and pecunix. I’ll search and see what I can find for you. Give me a couple of days, OK?
- Sharon
E-bullion is based in the States, and if I didn’t remember wrongly, Pecunix, Australia.
The fact is that most of us are using E-gold, thus we seldom or rarely see people using others, and to port ourselves for a sudden change to other currency, it’ll be alot of work.
Not only that, not much diligence is done on E-bullion as well as Pecunix (though Pecunix is pretty impressive on presentation and security)
Pecunix is actually in New Zealand, have their own reserves (I think in Dubuai) and I hear excellent security. I have never used them, but know a few that swear by them.
One possible outcome of this is that a newcomer will come in, based in a country with strong privacy laws, and will overtake all of the digital currencies, including e-gold. Because it’s been my observation that people like and prefer anonymity. If you can freely exchange money without worrying about proving your identity and having governments snoop at your personal business (the way e-gold USED to be, until they sold out to the feds), then people like it and they’ll use it.
So I think someone will see the opportunity that is brewing and take advantage of it. The characteristics for success would have to be:
1) Anonymous (no proof of identity required)
2) Transactions are final (just like e-Bullion & e-gold)
3) Secure
4) Based offshore as in somewhere where the Gov’t won’t get involved, and a country who doesn’t bend over in a doggy position when Big Brother comes over and demands customer info (believe it or not, there’s still several countries that fit this category)
That’s my prediction
Also I predict e-gold will get worse and worse, and turn more into a PayPal sort of thing. Doug Jackson’s mistake is to run e-gold out of Florida. He should pack up his bags and go somewhere else.