> Once again, I applaud your rationalizations! Too little effort appears
> to be aimed at attracting the larger merchant organizations to accept
> e-gold. As a fellow Market Maker, it appears that the bulk of e-gold use
is
> still limited to the many investment games/ponzis/pyramid programs out
> there.
I believe there will always be two kinds of money in this world, because
there are two fundamental types of transactions:
1) Consumer controlled transactions, where the Consumer will demand the
final say in the transaction;
2) Seller controlled transactions, where the Seller will demand the final
say in the transaction.
Transactions which are driven by consumers include relatively small value
items with large price mark-ups. With consumer merchandise, sellers can
accept some charge-backs and bounced checks, and still make a profit,
because their mark-up is high, and their sales increase substantially when
they allow the consumer to use his credit card. For these types of 'soft
money' transactions, people can use credit cards, personal checks, money
orders, and the new third party payment services, like PayPal.
However, one would never consider using a credit card to purchase a new car,
or a house, or to make a payroll, or make a B-2-B payment. These types of
high-dollar transactions, where the seller cannot afford to have a payment
reversed, will be controlled by the seller, and he has a need for 'hard
money' which he can rely on to fulfill the transaction without the
possibility of a reversal. This is where e-gold comes in. E-gold is TOO
expensive to be used to purchase consumer merchandise, and will probably
NEVER be used for this purpose. However, it is PERFECT for a large-value,
low-markup transaction, and will probably find its niche here. A consumer
will not want to spend his e-gold on a new toy, but he will be glad to use
it for a new car, a vacation, perhaps a new house, to make a payroll, and
perform other business transactions.
Do you realize that the average number of listings on eBay, which accept
e-gold, have FALLEN in the past year, even though e-gold is now 5 to 10
times larger than when I started counting the number of eBay auctions which
take e-gold?
Craig
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