> From: [EMAIL PROTECTED] > Date: Fri, 27 Jun 2003 14:22:28 -0400 > To: "e-gold Discussion" <[EMAIL PROTECTED]> > Subject: [e-gold-list] Re: recent discussions - need a summary > >> In other words, if you are selling your services for $1,000, and you are >> paid $1,000 "worth" of e-gold, you should be able to get $1,000 for the > > is there any place that will buy gold (in any form) at spot? > kitco doesn't. omnipay doesn't. does anyone?
Omnipay and all e-gold users did for years. I fail to see how your everyone-off-the-bridge analogy is a good argument. There also isn't one libertarian country on earth, but that has little relevance to whether or not a libertarian country is a good thing. (Anyway, note that e-bullion pays spot). > what does "worth of" mean? how much i have to pay to buy > something or how much i can get by selling it? Worth of means how much you can get in exchange. I want $1000 "worth" of hamburgers, which is how many hamburgers I can get for $1000 FRN. Then you come to e-gold. Some one spends me $1000 "worth" of e-gold. Most e-gold transactions take place in terms of currency based on the spot price. So some one spends me $1000 "worth" of e-gold. My e-gold account history says someone sent me $1000 USD worth of e-gold. However, that e-gold is in fact "worth" $980 or 990 USD. JP made some great points on why e-gold being accepted at spot is a good thing, and a better than the way most gold circulates thing. I put in a few good points myself. If the benefits aren't clear from our messages, then I don't think they can be made any clearer. Like you say, we've only got 7 messages to explain it. > does "worth of" even mean anything in a bid/ask market? If e-gold were only denominated in grams or ounces, like the regular gold market, it wouldn't be a big deal. But the issue is if the "worth of" in the e-gold system means anything since e-gold is a straddled bid/ask market. When the e-gold account screen says I have $1000 "worth" of gold in my account, or I spent $10 "worth" of gold to someone, that isn't really true in practice. The only people who may not be concerned about this are gold investors who are comfortable paying a straddled spread, and HYIPers or Scammers who don't care about costs. But for those who actually believe in gold as money and using gold for commerce, it makes sense that $1000 of gold sent to your e-gold account can actually get you $1000. As for the gold investors, they pay the same 4% whether it is spot/4% or 2%/2%, so it makes no difference to them. So how is the straddled spread better? Besides the fact that's what "everybody else does". E-gold is not just like everybody else, it is a unique system and it wants to have gold as money, for gold to circulate as money, not to just be a place for owning gold like the rest of the gold biz. There is a significant psychological factor when new e-gold users get money in their account and learn it's worth less than they thought, or to try to explain it to those who don't know about e-gold. How would you explain to them that the straddled spread is better? Those who are interested in gold as money will pay more to get into the system, and that's what e-gold is about, gold as money. What is important is getting new people and businesses to accept it. You said in an earlier post that the old pricing structure and accepting at spot was useful and a good idea to jump-start the e-gold system. What has changed? John Kyle --- http://cambist.net --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
