>Your question provokes us to focus on a major factor inhibiting the growth
>of e-gold - that there's no common way now to put money into an account fast
>(as in a matter of minutes instead of hours or more likely, days and weeks).
>An ironic situation, considering that e-gold is destined for greatness as
>the currency of the internet.
It's worth noting that funding -- say -- a trading account with your
stock broker is just as "difficult" as buying e-gold.
For that matter, funding a new BANK ACCOUNT is just as difficult as
buying e-gold.
When you open a stock broking account at etrade or whatever, you
certainly cannotget funds there instantly -- your options are wire
and wait days, bank check or cashier's check and wait a week or a
personal check and wait a couple of weeks.
A stock broking account, like buying e-gold, is a very HARD form of
money. Whenever you are trying to buy a very HARD form of money,
using a softer form of money.
Here is the "May Scale" of money hardness (comments invited)
--hard--
1 street cash, US dollars
2 street cash, euro currencies, Aus, japan
3 egold
4 street cash, other regions
5 interbank transfers of various sorts (wires etc)
6 checks
7 consumer-level electronic account transfers (eg bPay in Australia)
8 business-account-level retailer transfer
--soft--
9 paypal and similar 'new money' entities
10 credit cards
--ludicrously soft!--
It is not meant to be definitive (eg, 6 and 7 could perhaps be
swapped; I left out cash on call at your stock broker, which is
probably around "2", etc) but gives a framework to think in.
Now if you're a retailer and you're selling VCRs, sure, you can take
poxy money around the May Scale of 8, 9 or 10.
But if you're a "retailer" and what you're selling is money itself
--- ie, you are selling e-gold, or you are Quick & Reilly -- it is
EXCEEDINGLY DIFFICULT to accept anything with May Scale > about 5.
(Note that at coconutgold, we simply only accept wires! All the
exchange providers for e-gold who accept money on the May Scale of 9
or 10 are very brave, tough, and quite understandably have to charge
fairly high premiums to do so!)
Again the point --- it's no surprise or horror that it is somewhat
DIFFICULT to get e-gold, to fund e-gold .... it's for exactly the
same reason that you can't instantly fund a stock broking account.
(Observe that at Bananagold, we TAKE IN #3 and PUT OUT #8 .. so
that's a very 'secure' transaction. The #3 transactions is
essentially not reversible, whereas the #8 transaction is a joke, we
could reverse it anytime with a short argument on the phone.)
What a surprise! that banks will only accept money that is at the 1
to 4 end of the May Scale, and they are only really happy giving you
money on the 6 to 10 end of the May Scale!
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