Now, if we take the client's in-exchange and the merchant's out ex-change together, then then about 4% would be the minimum.
Nonsense. For a purchase at $1,000 the customer should go to http://cambist.net/ and obtain e-gold at 1.5%. The merchant can then go to http://www.ezez.com/ and sell his gold at 0.75% for a check. Total 2.25%. In each case, there is no other fee. The average cost to buy a bank check and send it to Cambist by first class mail is about $2. So, we're up to 2.45% for the whole deal.
In-exchange for client: $20 (2% fee) + $25 + $15 = $60.00
I make it $15 + $2 = $17. In e-gold there's an additional 50 cents to receive the gold. $17.50.
Out-exchange for merchant: $20 (2% fee) + $15 + $25 = $60.00
I make it $7.50, plus the 50 cents e-gold charged the merchant when the customer spent it to him. $8.
Total cost: $120 (amount was $1,000) or 12% !!!
Nonsense. Total cost $25.50 or 2.55%.
Compared to the credit card purchase, which the merchant bears entirely on his side, the transaction is still favorable overall.
If the purchase is smaller, in the median or even low 100s range, then the only one who benefits is the banks.
Here, you go to http://www.ezez.com/ for both ends of the transaction and buy at $8.70 for $300 and sell at $2.25. The buyer is still buying, in this case a money order and postage - 75 cents. E-gold sucks in a dollar. $12 for $300, four percent.
So, from his point of view, the guy is spot on.
Yes, but his point of view is to neglect to mention that the merchant bears all the cost of a merchant account. The transaction costs are partly borne by the customer in buying e-gold.
However, he forgot to mention the convenience of privacy
A major lacuna in his analysis.
and the fact that half-way smart people only do larger in/out-exchanges to reduce the bank fee component percentage wise.
Or they plan things far enough in advance to arrange to send and receive checks or money orders, reducing the fee component further.
The lucky user will go to:
http://8715605.thegoldcasino.com
and simply win the $300 playing poker. <smile>
Regards,
Jim http://goldbarterholdings.com/ http://www.ezez.com/
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