I sincerely hope you are right and I am wrong (about e-gold taking off with
big companies). I have never said the tax implications of using e-gold are
impossible to handle only onerous and that there needs to be an economic
rationale to handle the accounting problems. If I were dealing in Yen there
are Millions and MIllions of reasons to deal with the headaches. e-gold
just doesn't have the economic appeal of a Yen, or Pound, or Euro, or
anything. Until it does it will have to be limited to certain markets. Now
what are those market????
Potential e-gold Markets that are available now and require no investment by
the business user in complex accounting systems (I am going to be as all
encompassing as possible here and encourage people to add categories):
1. Offshore Non-Taxable Transactions.
2. Charities (non-taxable)
3. Criminal Ponzi Scams (don't like it but it is a market)
4. Offshore Money Laundering (again don't like it but its there)
5. Offshore Service Providers giving immediate goods and/or services to
worldwide consumers. (example URL registry)
6. INVESTORS - I think e-gold is a great way of investing in gold if you
don't want to get stuck with a lot of heavy metal around under your bed.
Just need to emphasize safety factor, and that is difficult with a scam a
day. e-gold would need to market its safety, back up, means of recovering
gold, all the complex mechansims that e-gold really does have to protect its
clients. These need to be publicized to attract more investors. The
Message: """e-gold is SAFE!"""
I am sure I have missed some market segments. Please add to the list. I
am not trying to be a crank. I am trying to be realist. You don't open a
snow cone shop in the Arctic. There is no market there for snow cones.
Nothing wrong with snow cones though.
On Wed, 20 Dec 2000 16:36:57 -0500 (PST), [EMAIL PROTECTED] wrote:
> 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 big problem for
> even relatively-small businesses to calculate capital gains and losses
(I'm
> at a loss as to
> how storage or spend fees play into this, especially since one gets
calculated
> in weight
> and the other in dollars). Clearly not all financial activity in the
e-gold
> system is reported to
> tax authorities, nor should it be IMO. That makes e-gold no different
than
> dollars, and the
> federal government will probably figure that out, eventually, after
wasting
> lots of time and
> money first.
>
> I also think the root of e-gold and OmniPay's customer service problems
> is indeed scams
> like "ebiz," which appears to be merely a particularly brazen and
well-done
> Ponzi scheme.
> If I am wrong about this (I have not signed up for their service, as I
don't
> trust them with my
> gold!) then could one of their proponents please give a coherent answer
> as to exactly what
> business they DO do??? One guy on the free-market.net board suggested
they're
> identity
> takers, which makes sense, considering they want your tax info while
failing
> to identify
> themselves to you in any way. No response to him yet from the scammers...
>
> Anyway, the problem with scams is that it brings a new and much stupider
> crop of folks
> in to try and understand e-gold, which has never been that simple even
before
> scams
> started misrepresenting grams as "dollars," because it makes the scammin'
> easier
> than a truthful explanation. BUT, stupid as these newcomers are (and
we've
> spent the
> last week watching them get skewered here, apparently Delphi's more
welcoming
> to
> idiots with more hope than sense!) it's hard to feel sorry for them,
because
> even they
> know it's a scam, and these fools seem universally to be relying on an
even-
> greater
> set of fools to come along & double/triple their money in X days. The
problem
> is that
> even dimwits, thank god, have limits on how fast they can breed, and
scams
> are so
> desperate and running out of morons that they actually refer to the
failures
> of previous
> scammers instead of just keeping mum. Stupider people take more customer
> service
> time and money than college-educated, hard money conservative economics
> types
> that used to populate this list in the old days before scams like ebiz
came
> along, and
> we suffer for it if we need help from OmniPay...
>
> Will scams ever go away entirely? No, not as long as greed accompanies
stupidity,
> BUT
> I predict Glencannon is exactly wrong, and that more "mainstream"
companies
> WILL
> pick up e-gold. They're sheep, and they're not especially smart, but all
> it takes is one
> and the rest will follow [while saying it was their idea]. I predict even
> the mainstream
> media will finally notice e-gold next year, and they will grow like mad
> then.
>
> In fact, I think that Amazon.com is going to have an e-gold account 365
> days from now
> or, alternatively, they'll be in bankruptcy. e-gold seems to be about the
> only thing that
> can save both them and a lot of other fundamentally-fucked-up dot.com's,
> and that's
> going to work to all our benefits (even Glencannon's) in the gold economy
> next year.
> IMNSHO, YMMV, etc.
> jammer99
>
> Barbara Feldon rulez
> 86
>
>
>
>
>
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