> I'd say that the average is more than 5% for retail. For sure, with users
> willing to pay 7%-15% to obtain e-gold, fees may stay high for a
> longtime.
The high fees are used to offset the high fraud costs associated with the
conversion of soft currency to hard currency.
> > 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
>
> Which merchants ?
Any merchant who accepts e-gold. They receive e-gold without paying any
exchange fees by accepting e-gold in payment for service or product. They
only have to pay the (at most) 1% transaction fee. This is much less then
the 2.5-4+% that credit cards charge. They should then have no issues with
a MM exchanging national currency evenly for e-gold. The MM then has
e-gold for zero cost (minus cost of national currency payment method).
*Currently* there aren't that many large merchants (JP, I don't mean the
EREs you keep moaning about). However, this will change with time. e-gold
is still coming out of it's formative stages. e-gold's growth show
absolutely no signs of even slowing down. However, some people are
irritatingly impatient with the measly ~30%/month growth and are clamoring
for the flash-in-the-pan growth demonstrated by the payment systems that
have come and gone in recent past.
Viking Coder
____________
Worth Two Cents?
http://www.two-cents-worth.com/?VikingCoder
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