Concerning the nature of OSGold...
It seems that OSGold is aimed at serving various scams and their
"customers". It is good that these people have some other place
to go rather than e-gold so that the development of e-gold is not
distorted by their activities.
> 2) They don't describe how they are holding the gold in reserve,
> other than in vague generalities.
Quite possibly they don't have any gold. And for their purposes
it probably does not matter if they don't care about sound money.
What their customers do need is just an untraceable way to
quickly transfer ordinary money so that the scamsters can get
away with their loot. The gold part of e-gold is not what made
e-gold useful to the scamsters.
> they said that they handle about 40,000 transactions a week, and
> several inconsistencies come up: 1) It took E-Gold 5 years to
> reach 40,000 transactions a week, but only seems to have taken
> OSGold 2 months;
I don't find this implausible as the two cases are not the same. A
substantial number of scammees were already using e-gold and they
conducted a large volume of transactions. A large part of this
accumulated group could have just moved to OSGold; no need for
slowly attracting customers like e-gold.
> Why is it that E-Gold has not experienced a noticeable drop in its
> weekly transactions during the past couple of months when OSGold
> has reportedly picked up so many;
That is a good question. Note however that e-gold's velocity IS
MUCH lower than than it was last fall when a number of scams were
in their growth phases. Perhaps there are new scams running on
OSGold now and e-gold is no longer being yo-yoed by them. And the
e-gold volume is a bit lower now. Maybe healthier growth has made
up for some of the lost scammers.
I'd also point out that e-gold's reserves have hardly budged (and
have some large decreases at times) in the last 5 months; this is
quite a change from last year.
> However, if OSGold had that kind of money,
I would not discount the likelyhood that OSGold has substantial
capital: the scams obviously get away with a lot of money.
CCS
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