>> Gold is only real money if you are physically in posession of it. DGC >> do not differ much from fiat currencies except that it better suited >> for international payments over a medium like the internet. > > Not true. The main charracteristic of fiat money is that it is "fiat", > backed by nothing else than confidence. DGC are backed by > tangible value, physical gold, in a vault that belongs to the users.
You are assuming that the company holding that gold is trustworthy and will not default. Even if real gold is actually stored in vaults on DGC users behalf, that will not prevent the DGC from ever defaulting or just plain fraud. You will never be able to regain "your" gold in case the DGC goes under... Users are placing a lot of "trust" in the companies operating these DGCs. This is a bit like the ones putting all their $$$ in a Latvian bank :)) --- You are currently subscribed to e-gold-list as: [email protected] To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
