Danny Van den Berghe wrote:
> Well, I have to wonder about this trust when I look at the stats
> page. Of the 560000 funded accounts, almost 500000 have less than a > gram of gold in them (eq. to less than $12)
After Jim Ray and Robert babble on, pulling a red herring across the path about audits and trust, and completely ignoring the real issue.
Robert B.Z. wrote:
With over 1,000,000 accounts and the highest volume/turn-over in terms of transactions, I believe the trust factor among users by far outweighs any audits by now.
James M. Ray wrote: > Now I say that I trust stats & examiner (and Jay & Doug) more > than I trust any accounting firm.
So let's re-word my original statement. IMO Pecunix and Goldmoney are more serious because they have PROOF that they have the gold in a vault. Furthermore the babble about accountants not being trustworthy is nonsense, Pecunix has at least 2 other independent parties (who aren't accountants) scrutinising the gold store. Each of these parties has substantial reputation capital at stake. I think Goldmoney also has at least one independent party who is not an accountant. The fact that e-gold can't provide proof of their gold store is not the fault of accountants, it is a shortcoming on e-gold's part.
Of course Jim also disregarded my other reasons for not considering e-gold as a serious currency, although he inadvertently confirmed one of them.
I said "Of course e-gold's lack of any official comment on these major points also gives the impression that they are not really serious about their business or reputation."
James M. Ray wrote: > I don't speak for e-gold or make their decisions about how and > where to spend money.
That's right, and nobody does! How can a business be considered serious if they have no official mouthpiece to answer valid concerns?
Then of course there is still the lax customer service and weak right of association policy to take into account...
Sidd.
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