You're right, Paul, the market is still too small. But it is growing. Give
it time. Try again in two or three years.
Slow growth is good. Just look at PayPal. It is an overnight success that
is fraught with problems.
I know that e-gold, GoldMoney, and Standard Reserve are all working on
improving their systems. By growing slowly they and the market have the
time to build stability and depth. And, when a large concern does decide
this is a potential market worth investing big dollars in, there will
already be three or more PROFITABLE companies providing the infrastructure,
so the investment will not be a shot in the dark.
I've never seen e-gold's financial statement, but according to the system
stats, they are grossing about $10,000 a day just from transactions, not
counting storage fees. That is not bad for the small market that e-gold
represents.
And, furthermore, e-gold has proved a profitable e-commerce model in an era
of dotcom busts. E-gold doesn't blow any money on marketing. Yet, they
have still grown from zero to $25 million in reserves, and almost a $1
billion a year in transactions in five years. They are profitable, and
their product sells itself. No, it hasn't replaced the old-world financial
system, but it is making money, and that's more than Jeff Bezos can say.
Give them time.
Ken Griffith
----- Original Message -----
From: "Paul Ewing" <[EMAIL PROTECTED]>
To: "e-gold Discussion" <[EMAIL PROTECTED]>
Sent: Friday, June 22, 2001 10:07 AM
Subject: [e-gold-list] E-gold as a marketing tool????
> I am beginning to agree with JPM on some points, though not all. I don't
> see e-gold being a real serious marketing tool for businesses until it
> gains more users. This is a chicken and the egg situation though since
> people aren't going pay to put money into a system that they have
> relatively few options to use.
>
> I switched to requiring e-gold for all foreign orders a couple months ago
> due to the time, aggravation, and expense of validating non-US credit
> cards. Since them I have only gotten one order from Europe and that was a
> previous customer who I let use their credit card. The problem is that
for
> some one to buy something from me they will more than likely need to open
> an account, or at least fund one. This time is measured in days to
> weeks. Sort of kills the spontaneous buy.
>
> Why do I say this? Just look at the current e-gold market. Around
229,016
> accounts total. Of these only 94,000 to 95,000 are funded. Many of them
> probably "abandoned", duplicate, or test accounts with too little in them
> to make it worthwhile to get the money out. Of the accounts I just looked
> at all but about 35,000 have less than 1 gram in them, and of those only
> about 12,000 have over 10 grams. Ten grams is only $85 to $90 depending
on
> the day. Would a company market to the demographic where they can see
that
> almost all have less than $100 in their checking accounts?
>
>
> Paul Ewing
> Shining Moon Creations - Exotic and Fantasy Jewelry
> http://www.shiningmoon.com
>
>
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