> b. Why is a KNOWN crook (your words) allowed to outexchange e-gold?
> (Again, probably your answer will be the User Agreement. Realistically this
> is more of an "ethics vs. morals" issue.)
Are known crooks allowed to have a bank account?
> My point to all of this is that if you honestly believe that there is
> ZERO risk associated with outexchanges, you are wrong. There ARE risks
> associated with outexchanges. Not the risk of having your transaction
> reversed, but worse, having your company dragged into the mischief of
> another.
If there is a risk of receiving e-gold for outexchange, then there is a
risk in accepting e-gold for any transaction. That would pretty ironic if
e-gold's, and subsequently all other GBCs', downfall was what made them
popular in the first place - non-repudiable, instantly clearing,
world-wide payments.
> Market Makers have absolutely no way of knowing where a client got the
> e-gold the wants to outexchange.
You have absolutely no way of knowing where the client got the funds he
wants to inexchange. You accept cash deposits at the bank. This cash could
have been obtained through any number of illegal ventures; drug trade,
ponzi schemes (using paper cash), kiddie prostitution, etc...
> While this protects the individual wanting to outexchange,
> it certainly does nothing for anyone who was victimized by the person.
> That has pro's and con's. And yes, CCS, believe it or not,
> this is DEFINITELY related to e-gold outexchanges. I am not pointing
> fingers, just pointing out facts.
It you feel so strongly about e-gold outexchanges being even riskier than
e-gold inexchanges than start charging higher fees and requiring more
extensive identity verification. It is not a problem with the e-gold
system.
> and other known scams prove that one can steal and wash it through e-gold.
e-gold is *not* unique is this manner. These same scams have been since
time immemorial using paper cash, or whatever else was available. However,
nobody claims the US dollar is used solely for money laundering and scams.
> just pointing out that the statement "zero risk involved in
> outexchanges" is far from the truth when you fully understand the legal
> ramifications one can face by being a Market Maker.
There is never "zero risk" in any venture. e-gold eliminates the risk of
the payment being cancelled though. However, any exchange provider not
affiliated with the "big boys" will most probably have to deal with money
laundering charges at some point.
Viking Coder
________________
Worth Two Cents?
http://www.two-cents-worth.com/?VikingCoder
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