> Elwyn wrote
> Yes. we are favoring those people who want to hold more than $3,600 in
> Standard Gold. We are looking for the serious people who want to hold larger
> amounts and not be penalized by e-gold's 1% per annum, which for $5,000
> would be $50 and in Standard Reserve only $36. We are seriously looking for
> the serious holders and users of gold.
First off, you might want to update your site. The page describing the
personal accounts still says that Net Anywhere accounts are free.
How can anybody hold more than $5,000 in a Net Anywhere account? It has a
maximum dollar balance of $500. There is also a maximum transaction
volume of $500.
Is the transaction volume both spending & receiving? If so, then does that
mean that once I fund my account with $500, that I cannot spend it for a
whole month?
The Instant Anywhere has no account maximum, or maximum transaction
volume. However, it also has a $75/annum fee, as well as a $3/month fee.
e-gold will be cheaper until there is $11,100 in the account. Then there
is the issue of the spend fee 3 times as much as e-gold's, with no value
cap mentioned.
Now, if you want to have a merchant account...
$200 account establishment fee
$150 annual fee
$10 monthly fee
1.75% spend fee (value cap?)
I'll spread the $200 over 10 years, which amounts to needing $29,000 in
the account to equal e-gold's storage fee. The higher spend fee can be
disregarded because of e-gold's storage fee. In order to do so would
require keeping 75% of the total transaction volume in the account.
So does this mean I'm not a serious user unless I have tens of thousands
of dollars worth of gold in my account? That would mean that less than 1%
of e-gold accounts are held by serious users.
Viking Coder
________________
Worth Two Cents?
http://www.2cw.org/VikingCoder
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