On Wednesday, May 28, 2003, at 02:04 PM, Offshore Team wrote:
I don't know what to say about the category 1 people -- are they just whiney, lazy losers? These are the same people who are perfectly capable of opening a bank account, providing state-issued ids, paying bank fees, paying credit card interest charges, and indirectly paying merchant account fees (I know, merchants no longer offer cash discounts).
I dont agree. ...
I was asking.
People are lazy (lazy with the brain) when it comes to new things.
So yes they're lazy, but no they're not whiney losers?
That IS why gold backed currencies arent working.
Every day the DGCs have more accounts, higher spend velocity, and more money under management. Over on dgcchat Ian Grigg recently offered this (on the "Stop yer whinin'" thread, 5/10/03):
<quote author="Ian Grigg"> Mind you, i saw recently - don't know if it is true - that the outstanding float for PayPal is only 20 million dollars. That's the same for the DGC field, so this field is as big as PayPal.
A much more impressive figure is that velocity is very high. Normally, a conventional state currency like the dollar turns its entire float over in about 50 days. E-gold turns over in about 4 days, sometimes as low as 2. So, even though there is only about 20m in circulation, it's a much more powerful 20m than other systems. </quote>
E-gold and the rest accomplish all this with NO marketing! I suspect that E-gold might actually be making a profit -- even without entering the wide but not very deep mainstream. So maybe the gold backed currencies "aren't working" as you say, but as long as E-gold is making a profit I don't think they care.
You allow funding of gold backed currencies via Credit Card for a reasonable cost and then you have a winning system. ...
Good point, and you bring up a question that is well worth pondering:
** How can an exchange provider offer DGCs in exchange for CC payments and make money doing it?
The stock answer to this question is that it can't be done because offering the service to the mass market requires exorbitantly high fees (15%) that make the business not worthwhile. So any answer will require thinking outside that box (e.g., don't offer it to the mass market).
-- Patrick
--- 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.
