WOW! They have been in operation for all of 2 to 3 months. They must be
legitimate. HAHAHA.
On Mon, 18 Dec 2000 14:16:52 -0500, Jonn B. Goode wrote:
They have been in operation since 10/00
and as we all know if they were a scam they would be gone by now either
by
their own demise or
You know I am so impressed by your logic on this one that I think you might
just be able to manage a little toll bridge I was planning on setting up in
Brooklyn. Maybe you could make a modest investment in it and I'll make you
Chief Operating Officer. I also have some beach front property in
True if you hold the e-gold, its ok. But if you use there is a question.
And if you cash out, your screwed. It is just too much accounting work to
tolerate. That is why no legitimate tax paying business can afford to use
e-gold. It will cause their accounting departments too much headaches.
I believe e-gold will have to be treated as a commodity purchase or as a
foreign currency. Either way the accounting is cost prohibitive for any but
the largest of transactions, or for non-taxable entities.
On Tue, 19 Dec 2000 17:47:36 -0500, CCS wrote:
I guess what I meant by "recognition"
The issue of whether e-gold is valid currency is not the issue. It is the
very fact that it might be treated as such that gives problems.
And even if you cleared out the e-gold on each transaction, it is just too
complex an accounting problem for serious businesses to deal with. With the
Craig Haynie wrote:
Each transaction should be listed as a purchase or a sale of e-gold! You can
list the item purchased or sold in the memo field. If I buy $1000 US in
[snip]
Maybe you should consider tracking your transactions in grams instead of
dollars.
If you are basing your business
Maybe you should consider tracking your transactions in grams instead of
dollars.
If you are basing your business on E-Gold, then you should be using grams
as
your base currency. The dollar value of your transactions becomes mute.
I think you're missing the point. At the end of the year,
BINGO!
On Wed, 20 Dec 2000 14:06:17 -0600, Craig Haynie wrote:
Maybe you should consider tracking your transactions in grams instead
of
dollars.
If you are basing your business on E-Gold, then you should be using
grams
as
your base currency. The dollar value of your
Of course the transactions can be tracked, but why? If I just take
$100.00 I have one transaction to list, and no tracking of Cost Basis
whatsoever.
there needs to be strong incentive to incure this sort of inconvenience, and
at this point the only incentive has been for scammers to use
I agree with you that all this accounting business is a horrible headache,
and that is the problem. Little guys can more or less just ignore it and
hope the IRS doesn't find out and if they do hope the IRS just doesn't care.
But if you are big company that does 1000s of transactions a day,
The discussion we are having concerns the issue of whether e-gold is
appropriate for US companies. NOt Belize companies. If you were located in
Belize, or some other tax haven this whole discussion would be irrelevant.
(MAYBE - A Belize company that does business in the US is bound to observe
At 08:33 AM 12/20/2000 -0800, Glencannon Group Ltd. wrote:
However, if you are a "serious" business and thinking of using e-gold, it is
really hard to justify it. If you do any more than a few transactions a
day, you will really need to retain another bookkeeper for a few more hours
a week to
Hi,
I have been watching this conversation and am interested in the view
that most people are taking. I don't have any experience of US tax
laws or the IRS code on capital gains tax, but in most countries,
there are fairly open guidelines about capital gains taxes that are
"interpreted" on a
At 08:33 AM 12/20/2000 -0800, Glencannon Group Ltd. wrote:
However, if you are a "serious" business and thinking of using
e-gold, it is
really hard to justify it. If you do any more than a few
transactions a
day, you will really need to retain another bookkeeper for a few more
hours
a week to
The dollar will only become 'mute' when the IRS accepts gold as payment
I know this may sound strange, but The I.R.S cannot and will never accept
gold as payment for tax. Gold and Silver is defined under US law as real
money but Federal Reserve notes are not (Legal tender). If fact the IRS can
Imagine what the result would be if you searched on "money" or "make money",
or "dollars"! ... at least with an exhaustive survey of the whole returned
results. In the previous case the 'sample' was really 20 and the population
was 2000. e-Gold is a means of exchange and a store of value that has
Here's why. Substitute "Yen" when he says or means "grams of gold" and you'll
see that it
does not make sense anymore.
A big multinational won't LIKE having another currency to deal with, but
they're entirely used
to dealing with a variety of currencies every day, and with computers it's
no
At 04:21 AM 12/19/2000 +, eric gomez wrote:
hi, my name is eric gomez, I am panamenian . i recently opened an accountin
www.e-gold.com, because i am gonna receive money from a friend. I want to
ask you a question.
How can i transfer funds of an e-gold account in cash ?? I know that there
are
But if you are big company that does 1000s of transactions a day, e-gold
would drive your accounting department bonkers. And they just can't
ignore
it and hope the IRS doesn't find out.
I disagree again. Take the company I work for: $200 million a year, using
about 6 different currencies
The dollar will only become 'mute' when the IRS accepts gold as
payment
I know this may sound strange, but The I.R.S cannot and will never accept
gold as payment for tax. Gold and Silver is defined under US law as real
money but Federal Reserve notes are not (Legal tender). If fact the IRS
--- begin forwarded text
Resent-Date: Wed, 20 Dec 2000 22:30:40 -0400
Date: Wed, 20 Dec 2000 18:29:40 -0800
From: Stuart Haber [EMAIL PROTECTED]
To: [EMAIL PROTECTED]
Subject: Financial Cryptography 01 preliminary program
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