It doesn't matter how much money is in e-gold, it will never be "real"
currency until it is recognized as such by governments. The unfortunate
fact is based on the tax code which mades every single transaction involving
e-gold a capital gains or loss incurring transaction.
If I buy a book that costs me $25.00, I sell so much e-gold to acquire
$25.00 in currency. That transaction must be tracked along with every
single e-gold transaction for potential capital gains and losses. For an
individual to do so is almost impossible, but the possibility of the
government really being concerned is minimal. However, for a legitimate tax
paying business, (I'm not even going to think about a public company) to do
business in e-gold on any other terms other than very large transactions is
impossible. The complex accounting requirements would cost a company too
much money to justify accepting e-gold.
Now offshore companies that are tax free, and individuals and companies that
have no compunction about defying tax laws can use e-gold without too much
trouble, but I can't see it being useful for everyday commerce.
On Mon, 18 Dec 2000 16:21:17 -0500, [EMAIL PROTECTED] wrote:
> CCS wrote:
> >
> > I did a little research. I did a simple search of the web
> > for "e-gold". It returned over 3000 hits. Looking at the
> > first 20 hits there were 4 obvious scams (and 4 other ads for
> > internet gambling sites). If this extrapolates to the whole
> > sample then there would be over 600 scams involving e-gold.
> >
> > It gives one pause. A substantial part of the growth in e-gold
> > activity may be driven by scamsters.
> >
> > CCS
>
> But, when total accounts, or better yet, funded accounts get up
> around a million, watch regular businesses sit up and take
> notice. ; ) What's that, about a little over a year from now
> for total accounts and 2+ years for funded accounts? Roughly
> speaking.
>
> Bob
> --
> http://www.bearerinstruments.com
>
> http://www.bearerinstruments.com/assets/BIMDsPGPkey.txt
> 650C 51DA 734F 697F 5706 3D6A 7712 BCC9 D1AE 00BA
>
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