> On the matter of exchange fees...
>
> The main reasons for an avg. 5% fee have very little, if anything, to do
> with the inabillity to bail in bars? (right?)
I disagree! I think they would be about 2% less, if they start taking JP up
on his offer, or bailing in bars.
> Large amounts (10's of kg) of e-gold can be obtained without ever
> bothering with bailing in metal bars. Merchants receive e-gold without
> paying more than a 1% fee (while paying much larger fees to receive
> national currency with credit cards). They then, usually, must exchange
> said e-gold for their national currency. It is therefore possible for
> exchange providers to inexpensively obtain large amounts of e-gold without
> bailing in bars.
This works for some Exchange Services which have worked out deals with
popular merchants, (who shall remain nameless). However, (and someone still
in the trade could correct me quite easily), most merchants sell their
e-gold to Omnipay, leaving the Exchange Services to buy their e-gold from
Omnipay at 2%, right? Also, all new e-gold must now come from Omnipay,
otherwise the e-gold system wouldn't grow. This means that there is a demand
for e-gold in excess of the outexchanges, when e-gold is growing.
SnowDog
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