[EMAIL PROTECTED] wrote:
>
> At 10:46 AM +1100 2/4/01, David Hillary wrote:
> >> I meanst to type, "Whenever you are trying to buy a very HARD form of
> >> money, using a softer form of money -- you will encounter
> >> difficulties."
> >>
> >> JPM
> >
> >why can I go to any ATM, insert my credit card and get my "available
> >balance" as cash?
>
> But you cannot do that ...??
>
> Well I mean you can, but there is a pathetic limit of $1000 bucks per
> day, or some such.
>
> (I can't withdraw more than 2000 bucks here in Australia -- at any rate.)
Well sorry to sound piss poor but I don't find that to be much of a
restriction. A car is the only thing I have ever bought or wanted to buy
with cash that cost more than a grand, and with things like cars and
houses the ownership is registered so privacy does not mean much.
>
> But yes you're right, you can go into a bank -- YOUR bank -- and get
> cash based on your bank account there.
I can go to any ATM in the world.
>
> Indeed you can use a credit card (the softest form of money) to get
> CASH (the hardest form) from an ATM:
>
> But note that's only possible because (surprise!) by fiat, the banks
> as a credit card merchant "declare" that ONLY FOR THAT TYPE OF
> TRANSACTION, credit cards are very hard money.
true but useful!
>
> Indeed, ONLY FOR THAT TYPE OF TRANSACTION, by fiat. banks make credit
> cards as HARD as e-gold always is.
so use this to get cash to buy e-gold.
>
> No other merchant can do that, ie, "credit cards are soft money".
for general merchants yes.
>
> If (and this would be wonderful) all merchants could miraculously
> make credit cards as HARD as banks magically do - in that special
> case - then, credt cards would be the best things since sliced bread,
> and the world would be quite different, example, any exchange
> provider would take a credit card in exchange for e-gold.
that would be nice but why use e-gold if credit cards were hard?
>
> >Just before new year I felt the need to travel to nz
> >for a few days and used my credit card to withdraw A$1 000 when my
> >available balance was only around A$900! I can get the hardest form of
> >money with the softest and instantly. I can use Aussie dollars to buy
> >technocash to fund egold quickly,
>
> What is technoccash, and how would you use paper dollars to get technocash??
go the website ( http://www.technocash.com.au/ ) fill out and print out
their form, go to the post office or other agent and tender cash for
technocash, then you can spend your technocash online at participating
retailers including goldtoday for a quick exchange for e-gold.
>
> Sounds great..
>
>
> >or desposit it into a market maker's
> >bank account to fund e-gold quickly too.
> >
>
> Well if you have paper cash sitting in your hand, you can just hand
> it to a market maker, to get e-gold. (There's no need to deposit it
> in the MM's bank account - just hand it to him.)
Where in Sydney, Australia is a market maker? Perhaps I should start in
the trade.
>
> Of course you can do that (because paper cash is May Scale 1 or 2)
> --- but you can't give him a check or c/c and expect instant gold.
>
> Regarding "putting your cash into a market maker's account", I guess
> so, if the market maker has a bank account at a bank which has a
> branch near you, and they'll allow third party deposits, etc. But
> then you'd have to wait etc. for the MM to verify that the amount was
> deposited etc etc. It would take a day.
it does not take a day, by the time the depositor has received the
receipt, the account holder can see the deposit on his online banking,
and knows he has been paid and how much and this is irrevocable, the
depositor, not being the account holder, cannot withdraw the funds. Thus
a MM can credit the e-gold account instantly if he has the gold
available. Also no identification is needed when making a deposit in
Australia, only a signature, which can be any scribble.
David Hillary
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