>>The purpose of e-gold is to
>>create an international internet currency, NOT to >>defy the state. There are so
>many good things that >>can be done with a digital, gold-backed, currency >>that
>there should be no NEED or DESIRE to defy the >>state.
Thank God, somebody else sees it this way. I think one of the major reasons that
e-gold hasn't hit the mainstream is because people ask who is using it. The answer
seems to be:
-People who want to protect their anonimity
-People who are against the state
-High Yeild Investments
-Ponzi Schemes
-Gambling
-and a small group of entrepeneurs creating smart applications.
The only value a currency has is who uses it. I refuse to believe that e-gold is
valuable because it is backed by gold. If something happens to the US governement and
the dollar crashes, I lose my money. If something happens to e-gold and the currency
crashes, I still lose my money. e-gold will only redeam in a 400oz increment which I
will not be able to get. Therefore I lose my money.
The value of e-gold just like fiat currencies, comes from people using it and willing
to trade it. e-gold's greatest advantage over fiat currencies is that it is online,
and a clear payment system for anyone in the world.
Khurram Khan
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