At 1:05 PM -0400 7/7/01, Eric J. Gaither wrote:
> It is of importance to note that Gaithmans is NOT the lowest priced
>Market Maker in the Community.
I appluad this viwepoint. Charging too little is just unprofessional.
(ISL's motto as a software company is "Reassuringly Expensive" :) )
Problems facing the market maker community seem to be:
(#1 problem) Appalingly low liquidity.
The eCTA (and any other bodies with the same aim) should require for
membership that MMs maintain say USD $10,000 and Gold 1 kg of
liquidity, as a basic measure. At coconutgold I don't feel
comfortable if either drops below 50 thousand.
(#2 problem) Charging too little.
If you charge too little in any business enterprise in any field,
here's what will happen: you go out of business. If you charge too
little in any business enterprise involing exchange and
banking-related aspects, here's what will happen: you go out of
businessa nd the last batch of customers in your system get screwed.
(#3 problem) Giving retail customers unrealistically short time expectations.
Looking at my epnonymous scale http://coconutgold.com/mayscale.html
there is nothing harder than selling e-gold for other monetary forms.
Wire transfers, even, take a long time to transfer AND CLEAR (anyone
who thinks wire transfers can't be revoked, should have nothing to do
with money), not to mention credit cards. If you are a retailer you
make a difficult living in a spot between retail customer and
wholesaler, it is essential to pass on both your COSTS with a markup
AND your time-costs with a markup. Retail customers who have
unrealstic expectations, screw 'em.
> We charge an average of 5% for Inexchanges
>(minimum fee is $1.00 USD) and we do verify our clients for fraud prevention
>measures. What we DO offer is Exceptional Customer Service, multiple GBC's,
>metal-to-metal exchanges, bill payments, wire facilities, and Currency
>Consulting Services. All of which is well worth the extra point we charge
>for our service in my humble opinion.
>
> Our clients are very important to us!
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