Hi, Patrik > I have during the past months been trying to find gold backed currencys > strength. > > so far i have found : > > * Real time transfer
It's a real-time transfer of so to say 'derivative value' so there always must be a junction between banking system and e-currency system, exchange providers are just a sluice-gate in between. In my humble opinion it has to start working really FAST (in real-time) before e-currencies will be able to compete with bank moneys. Then e-currencies will have a real advantage. > * Real time verification > * Hard currency backed - the gold In fact not all of them are 'backed', some of them (guess which one?) are somewhat beneficial interest in trust created somewhere by somebody, which is a bit different fiduciary arrangement. > But it also has its weaknesses -- > > * Hard to FUND a account - customer has to GO to a MM See the remark beyond. > * Not integrated in existing banking systems There is no need in integration, we all definitely need real-time exchange facilities. > * No "flexible" shopping online and offline > > - i would like to bring up a discussion on HOW we can evolve gold backed > currencies to something the big industys can use.... > > *Any ideas ???? Yes! There is an idea of how the situation will change in future. In fact the central question of all e-money systems is: when the businesses or Ayn-Rand-style entrepreneurs will be ready to sell their productivity for e-currencies. It's that simple. Money system has to accumulate productivity inside it, and then it will grow. Don't think I'm an admirer of Ayn Rand, it's just one of her points that obviously IS an ultimate truth. The question arises: how to attract entrepreneurship and productivity inside e-money systems? The answer is also very simple: just give them a chance. It means that all automation interfaces MUST be simple, unified as much as possible and open; the transaction fee for automated payments must be lower than for those made 'by hand', not 3% for API usage when 'simple mortal' gets 0% keying his password. Then the turnover period for e-money can be made (by entrepreneurs, not by the act of God) much higher and this will be attractive. Yours, Sincerely Alexander V. Fedotov __________________________________________________ [EMAIL PROTECTED] http://www.indx.ru/eng PGP key ID 0xB6ADD629 --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Did you know that e-metal is a wonderful holiday gift? Avoid the hassle this year!
