You have proven my point. Instead of hiring additional accounting staff to
handle the complications of foreign currency transactions (which I suspect
they did too), they hired a programer to write a complex program to handle
the calculations.
That means spending money to handle a transactions. I am not saying that
e-gold is impossible to use for large companies. I am saying that there
would need to be some economic motivation to justify the extra expense. In
your company's case, they must do enough foreign currency transactions to
justify the expense of revamping their accounting department software and
personel. In order to effectively use e-gold a company would have to do
similar actions.
I don't think e-gold gives such economic motivation to any but pyramid
schemes.
On Wed, 20 Dec 2000 21:12:53 -0600, Craig Haynie wrote:
> > 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 every day. However, I wrote the billing
> software for them, and the accounting software they use is designed to
work
> with multiple currencies.
>
> I won't go on any further, but I simply do NOT see the problem. E-Gold
> transactions are just data, and the manipulation of data can be
automated.
> Indeed, it's the smaller companies that may have a harder time, but the
> larger ones won't even blink.
>
> Sincerely,
>
> Craig
>
>
>
>
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