> We are not talikg about the "end of e-gold" if they start protecting
> customers. Why can OSGOLD do it, and still have a massive growth at the
> same time?
If OSGold does this, then they are doing it in violation of their terms of
service, where they indicate that they do NOT reverse spends.
I hate talking about this, because I hate theft. However, I know how the
thieves operate. THEY will not allow their gold to sit idle, while the
issuer reverses the transaction they used to steal the gold. Once it becomes
known that such a policy of reversal is in place, they will move the gold AS
SOON as they take it, to a safe location. This is why reversals don't work:
because they hurt innocent people. This is also why people NEED to take
responsibility for their own actions. The issuer, on the other hand, would
do well to make their system as fool-proof as possible, and this is where I
will agree that a better system is needed; (A better system would have at
least two passwords where one is a 'master' password never to be used to
make a spend or check a balance, which can be used to set-up the account
profile INCLUDING a VALUE LIMIT to be used by some other password which WILL
be used to do spends and check a balance. Such a system would better protect
the user since he would only rarely use his master password -- and never off
site -- and if he lost his 'spending' password, he would only lose value up
to his pre-set limit... Just my humble opinion...).
This is from the OSGold Website:
3. User is responsible for the
protection of User's Password that
gives access to User's
OSGold account. User agrees that, in the
event of the loss or misuse
of User's Password, Issuer disclaims
all liability for such loss.
User shall indemnify and hold harmless
Issuer for relying on
transactions authorized using User's
Password prior to such time
as User notifies Issuer that User's
Password has been
compromised.
4. User acknowledges and accepts
that in the case of a claim of
unauthorized Spends, the
presumption shall be that all Spends
are authorized by and are
the liability of the User. However, if
User establishes to the
satisfaction of Issuer that value was
diverted from User's Account
due to a breach of OSGold system
security, then Issuer shall
restore the diverted value.
5. User agrees that any action
taken by any person using User's
Password shall be binding on
User and all other parties with an
interest in that account.
6. User agrees that all Spends
initiated by User Account are final
and not reversible. Issuer
will act as mediator in an attempt to
recover funds spent in
error, but ultimately spends are the
responsibility of the User.
7. In the event of an incorrect
spend, Issuer agrees to make one
attempt to contact recipient
to return spend, however Issuer is
not accountable for the
outcome. Multiple requests for
intervention will not be
considered.
8. Any disputes that arise
between Users are not the responsibility
of Issuer.
9. User acknowledges that
OSGold is not an escrow service, and
that Issuer does not make
any guarantees regarding purchases
made when using the
service. User acknowledges that Issuer
does not ensure the
quality, safety, or legality of any merchandise
received, nor that the
seller will even ship the merchandise.
10. User agrees to indemnify and
hold harmless Issuer, its agents,
affiliates officers,
directors and employees from any claim or
demand whatsoever relating
to or arising out of User's use of
the OSGold system, except
for any loss caused by negligence
or willful misconduct of
Issuer.
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