On Friday, November 21, 2003, at 08:13 PM, Robert B.Z. wrote:
For obvious reasons Sidd, had to use pecunix for his cart, why don't you
make one that gives merchants the choice in which currency to receive it
in? Imagine, new IGs would be likely to pay you to include their currency
in your system, n'est-ce pas? And once they are included, 'all merchants'
accept the newbies currency by default - without having to add each and
everyone of them themselves, each time.
So were looking at these features or potential features:
1. Gold-Cart customers can spend any IG and merchants receive Pecunix.
2. Pecunix account holders can spend any IG.
3. Gold-Cart customers can spend any IG and merchants receive any IG.
I can see why Sidd might not want to implement feature (3) right away because at this point in time it might degenerate into a straight pass-through with 99% of customers spending e-gold and 99% of merchants accepting e-gold. It's really feature (1) that gives merchants a primary motive to accept Pecunix.
Feature (2) can then make the merchants' lives easier and help reduce excess e-gold inventory at Open2Exchange. (Though if you reach an excess of ~400 oz, I like the idea of redeeming a bar from e-gold and bailing it into Pecunix, as the JP interview suggests. :-)
If those two features are successful enough, you might find only a minor demand for feature (3) at that point. A Pecunix account holder such as myself could still buy Capulin coffee with e-gold via (2), or perhaps Capulin will have migrated to the Gold-Cart by then, setting up a Pecunix account and using (2) to make any necessary e-gold payments (e.g. to exchangers or other vendors who only accept e-gold).
Interesting dynamics, Sidd, and I look forward to seeing the innovations at Open2Exchange also. Enjoy your weekend with the family.
-- Patrick
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