I just want to issue some further clarifications. And a challenge.
First, I hope no one thinks that my observations about the prevalence of
HYIPs are meant to imply anything about the people on this list. I have
been almost wholly impressed with the ingenuity and honesty of the people
posting here, and I have no reason to doubt that you all are as fiercely
uninterested in using egold for ponzi schemes and other scams as you claim
you are.
Second, my article has not yet been published, let alone written. My
conjectures about the role of HYIPs in the gold economy are, so far, just
that -- conjectures, and an opportunity for you all to set me straight
before I commit some grave embarrassment in print.
That said, I hope you understand my dilemma here. I am looking at what
appears to be some very concrete evidence of robust HYIP activity in the
e-gold world:
o 9% of e-gold's accounts belong to onetime members of a *single* HYIP
(E-Biz, with its SEC-certified 22,000 members)
o 7% of the e-gold in circulation belongs to a *single* HYIP (CostaGold,
with its publicly viewable $1 million)
o Over 300 schemes offering guaranteed high-yield returns on e-gold
investments can be found on Yahoo Groups alone
Now, as Craig Spencer and others have helped me understand, it is very
tricky to try to spin conclusions from those kinds of numbers. But at
least the HYIP arena gives me numbers -- and very suggestive ones.
What I would challenge this list to do is give me some similarly
suggestive numbers to the contrary. Don't just try to argue with the
figures I've listed -- give me counterfigures that are even remotely as
impressive. Has your online business accepted e-gold from 22,000 separate
accounts? Or even 2200? Are you holding $1 million of your retirement
savings in e-gold? Or even $100,000? Can you list 300 legitimate merchants
that accept e-gold?
Honestly, I'm a fan of GBCs. I think some tremendously cool things are
being done with e-gold, and I'd like to think still cooler things await.
But as a journalist I'm also obliged to write about e-gold as it exists
now, warts and all. And right now the warts are in pretty sharp focus.
Please help me see the rest of the picture.
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