> >On the net you are frequently dealing with unknown counterparties in unknown (or > >uncertain) locations. > >Non-repudiable payments is not a realistic option in these cases. > >Repudiable is the only way you can work on the net in 95% of business. > > I disagree with this number. There are plenty of things being > done with e-gold which don't require repudiation of payments, > that's why stats.e-gold.com is cranking these days.
Well, I am not going to discuss the number, but consumer spending represents 75% of the US economy for example, and the vast majority of these consumer won't take much risks on the net. They are not going to send repudiable payment to some unknown person to pay for that item they found on an auction site... And they will be very reluctant to do the same for buying something on the site of a company they don't know. Unless it is for really small amounts of course. There are also millions of people outside the US, who cannot get a creditcard and would buy more stuff on the net if they can use some repudiable payment. That's a huge market untapped. > > If a system is repudiable, they are going to have high fees. This is > because they need to be not-only a payment system but a dispute > resolution center as well, when repudiation-time comes. I do not > want to pay for someone else's dispute resolution possibilities if I > don't have to, so I sometimes use e-gold. Obviously there will be fees that are higher, but the existence of repudiable e-gold does not mean you are forced to use it, and hence pay for other people's disputes. It is meant to be used besides the non-repudiable payment. So, if you trust the counterparty just use normal e-gold and pay the lower price. If you don't trust and want the insurance of being able to do a chargeback if the goods don't come, you can use the repudiable e-gold and you will pay a little more of course. If there is also repudiable e-gold the customer has the choice whether he wants to use non repudiable or repudiable payment. The merchant too will have choice whether for his business it is more appropriate to accept non repudiable only, or he should offer both. Everybody wins and e-gold will be useable for any type of business. In my business I cannot afford not to take creditcards. If I offer 5% discount when people pay with e-gold, they start mailing me they want to pay with creditcard but only if I give them this 5% discount too. So, I end up loosing money or loosing customers, because I offer e-gold as a payment option. If I offer payment with e-gold without the discount, nobody uses e-gold. Why would they if they can have free insurance by paying with creditcard? Only a few idealists like me will not use creditcard. > Sometimes, if I do not > trust a merchant, I'd prefer to use my plastic. When I do I probably > pay more for the protection offered. TANSTAAFL at work. Of course, that is your freedom of choice. But what are people without creditcards supposed to do if they don't trust the merchant? > I don't > think a system like you describe would be acceptable to many of > the merchants who've come to e-gold *because* of repudiation- > fraud problems, but I could be wrong. Why? For those who want to stick to non repudiable only, nothing changes. For those who have a business that benefits from offering repudiable payment, they have an extra possibility available. The merchant can choose whether he wants to accept repudiable e-gold or not. Having this choice your currency can be used for the entire spectrum of internet business. Now it is limited to those businesses where non repudiable payment is viable. Cheers Danny --- 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.
