True, but Pecunix also has a 2% above spot purchase cost, so you have to
hold for 2 years before Pecunix will work out cheaper than the gold ETF.
And a gold coin may have 8-10% markup, so you would have to wait 8 years.
But DGCs are a good intermediary between the new ETF and gold in your
From: Danny Van den Berghe [EMAIL PROTECTED]
Date: Tue, 24 Jun 2003 19:48:02 +0300
To: e-gold Discussion [EMAIL PROTECTED]
Subject: [e-gold-list] Re: gold ETF and GDC
The goldcoin is a little different, because I will often be able to sell
with an 8-10% markup too. So, that a big
: Monday, June 23, 2003 2:26 AM
Subject: [e-gold-list] Re: gold ETF and GDC
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Hello Danny,
I think that many people are under the misapprehension that the
storage component in a digital currency system is a significant cost.
This is simply not the case. The storage costs are miniscule in
comparison to other normal operating costs.
For me as an e-gold user it doesn't
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- - Original Message -
From: Danny Van den Berghe [EMAIL PROTECTED]
: For me as an e-gold user it doesn't matter what it costs e-gold to
store the
: gold, what matters to me is how much I have to pay for the storage,
which
: 1.2% annually.
: A DGC which would use this gold ETF as backing, would be able to
offer much
: lower fees.
Danny,
Pecunix charges ZERO storage fees, as does 1MDC... you can't go lower
than that!
True, but Pecunix also has a 2% above spot purchase cost, so you have to
hold for 2 years before Pecunix
From: Danny Van den Berghe [EMAIL PROTECTED]
Date: Mon, 23 Jun 2003 21:01:48 +0300
To: e-gold Discussion [EMAIL PROTECTED]
Subject: [e-gold-list] Re: gold ETF and GDC
Pecunix charges ZERO storage fees, as does 1MDC... you can't go lower
than that!
True, but Pecunix also has a 2
Hello Danny,
I don't think that we will come full circle or that the new ETF will
replace Coupon currencies because a system that includes e-sugar, e-corn
and e-whathaveyou will still need a base denominator to be quoted in and
exchanged for.
The only reason there is money to begin with is
And when it comes to e-sugar, e-rice, etc, the base denominator could simple
be a basket of commodities.
But that basket would still need a denominator or 'unit'. In essence you
could say that the sugar portion of the basket is 10% of the basket and
hence sugar costs 0.10 baskets. But then
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- - Original Message -
From: Danny Van den Berghe [EMAIL PROTECTED]
: I don't mean the ETF will replace the paper currencies.
: But somebody can build a DGC with the gold ETF as a backing, and
thus avoid
: the storage costs that normally
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