The e-gold execs told me on multiple occasions at FC they will freeze
accounts if they think the activity is "suspicious," and dare the account
holders to sue them in US courts to unfreeze it. They cited Ponzi schemes
as one use they found unacceptable. They assured me FWIW that they will
refund the grams in the frozen account.
-Declan
At 15:41 2/28/2000 -0900, Daniel J. Boone wrote:
>Anonymous wrote:
>
> > So maybe the thing to do is the following:
> >
> > Open an e-gold account, anonymously (or under a fake name, they sort of
> > allow this). This will be the mint account.
> >
> > Let people put funds into the system by getting them into e-gold then
> > transferring into the mint.
> >
> > Run an anonymous ecash server which does withdrawals and deposits into
> > the mint account, from behind Freedom.net.
>
>This would currently be a bad idea. E-Gold apparently has an
>ill-articulated policy of "freezing" accounts containing "funds that appear
>to be tainted by crime." They have so far refused to say what they do with
>the gold in frozen accounts, although I have Ian Grigg's assurance it is
>fair and reasonable.
>
>Given the possible uses for anonymous e-cash, the risk that e-gold would do
>something unpleasant to the anonymous mint account seems unreasonably
>large, at least until e-gold formalizes its policies in this regard. I'm
>not holding my breath, as there seems to be some (IMO misguided) sentiment
>for keeping the policy secret to avoid having people try to game the system.
>
>Hints have gone by on the e-gold list that there may be plans for an
>electronic bearer currency backed in part by e-gold, but I don't know what
>minting arrangements will be made or when we will see useable product. If
>it's electronic, and truly bearer, anonymity should follow fairly trivially
>even if not built into the system. Ian may know more -- the e-gold list has
>contained hints that he's involved in the project.
>
>-- Daniel
>
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