> I think e-gold needs to sell itself as a practical gold substitute, and then
> go and sell gold. But e-gold is not marketing itself in this manner. I am
> not really sure how e-gold is marketing itself.
>
e-gold ltd. doesn't do much, if any advertising, do they? That's why
they've been around for ~5 years and only have ~132000 accounts (30% of
which were obtained in the past two months). They have been taking the
turtle's route in this race.
e-gold's, and every other private digital currency's (like PayPal),
situation is the perfect example of a catch-22. Why should any consumer
use a PDC when no business will accept it? Why should any business accept
a PDC when no consumer is using it? They are two paths out of this
quagmire. Either open the floodgates on your advertising expense accounts
(i.e. PayPal), or build a loyal, tight-knit following through
demonstration of a reliable, sustainable system. Both require large sums
of money. However, there is a difference between $200 million over 10
months and $3 million over 5 years.
Once a company receives enough pressure to accept a PDC, they will. If
Amazon received a million independent requests to accept e-gold, would
they? Okay, so the accounting become much more complicated. Didn't we
invent computers to handle complicated math and accounting?
I don't belive e-gold should market, or even allude to, itself as simply a
means of purchasing gold for investment. This could have the effect of
bringing e-gold out of the scope of being a PDC. Why should e-gold even
consider this? It would drastically shrink their primary stream of
revenue; transaction fees. Why spend something that was bought solely as
an investment? Why accept an investment in exchange for goods/services?
Can you pay for your groceries with stock certificates?
Viking Coder
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