On Fri, 13 Apr 2001, Mike McNamara wrote:
[snip]
> I understand that there are countless micro-transactions and surely
> that accounts for some of the daily figure. But still... Based on
> the new stats page (which is great BTW) 63% of e-gold users have less
> than $10.
[snip]
You may be missing one side of the equation. I do a small business
funding accounts for people. Right now I do about 10 transactions a day
with the average being < $100. Most of these people are funding their
E-Gold accounts for a specific purpose. Generally to give that money to
someone else. Those spends I made are now doubled as the person completes
their transaction.
In any community a good rule of thumb for economic success is that money
should change hands 4 times before leaving the community.
Real wealth and economic growth is created by providing goods and
services. As more people insist on being paid with E-Gold the growth of
the E-Gold economy will continue. Those same people will look for
merchants that are part of the same community. Those million dollar a day
spends are likely to be the same dollars being turned over as part of a
normal healthy economy.
--
Vince Callaway
FreedomHound.com
PayPal -> E-Gold
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