Dear Patrick, > So the guy sends you a chunk of gold. You turn right around and send that check to Omnipay.
One sends the gold to OmniPay, unless one is wiser. > Omnipay deducts $1 and sends you a check for, let's just > say for example, ... $117.44. If you send the e-gold to Cambist, we don't deduct a dollar. https://cambist.net/ or contact [EMAIL PROTECTED] for details. Or visit https://cambist.net/fiat/goldchex.cgi to enter your check request with our secure site. We don't charge a fee for checks, because we go and sell the e-gold. Saves Daniel a dollar every time he orders a check, which can add up. (I think our minimum is something like $50 for a check to get it free of postage and handling.) > Surely that's enough! I don't know if it is enough, and stop calling him surly. <grin> > Even GoldBarter.com caved on this issue, or I think they show > both now. We show the current price of each auction in grams of gold and in US dollars based on kitco's pricing. The dollar value is approximate, and appropriate disclaimers are indicated. The actual accounting is done in grams of gold, as it should be. Let's be clear, most of the market thinks in dollars, not grams of gold. However, most of the market is mistaken, because they think the price of gold fluctuates from day to day, whereas the true volatility is in the value of the dollar. An ounce troy of gold has the same purchashing power today that it had 2000 years ago. > If Daniel priced in grams, he'd probably also want to show the > dollar figures. Could be wise. Lots more people think in terms of dollars. On the other hand, he can be paid in dollars with e-gold, too. > so he'd have to hire a CGI programmer to do this for him. Again, Patrick, you are making it tougher than it needs to be. Yes, Daniel could show the current price in dollars and in grams, and have both prices match up with Kitco.com's idea of what the price of gold is for a given fifteen minute interval. I think that's what GoldBarter.com actually does, and we paid a few hundred dollars for the programming on this feature. But, Daniel could simply have two prices: a gram of gold for a pound of coffee, or $12.95 for a pound of coffee. Those who want to pay in gold pay one price, those who want to pay in dollars pay the other price. In my example, the gold buyers get a discount, which makes sense because Daniel is assured that any e-gold payment is irrevocable. The easier thing to do is simply set up the e-gold SCI (not to mention the GoldMoney SCI and the e-Bullion SCI for good measure; I'm not yet happy with the 1MDC SCI) and accept 12.95 dollars' worth of e-gold. He doesn't have to change his pricing out of dollars at all. Daniel notes: > I did not receive a single check from Omni for the amount of > the sale, it was lumped together as a Dollar amount withdrawal > and not itemized, nor did I receive a USD amount for the grams > received from e-gold, nor an itemized list of each clients account. Right. You should visit your e-gold account history for these sort of details, I think. If you are paid in dollars' worth of gold, that is indicated in the account history. For a quick tutorial on checking your account history, try http://www.ezez.com/howto.html#check > how much it actually cost my client and consequently I and > ultimately the peasant farmers who I represent, to do business > using the e-gold system? You pay 1% per year in monthly installments on the e-gold you hold in your account. You also pay 1% capped at 50 cents for each payment received from a customer. These fees are much lower than, say, credit card merchant account fees. >Is this making it more complicated or less? Yes. <grin> SnowDog's comments: > Then if you have Omnipay send you a check, they will take > one dollar USD. But Cambist won't! We won't take that dollar if you ask for $50 or more! So, your accounting is easier, thanks to Cambist: https://cambist.net/ > From $101.95, subtract the 50 cents, and then the $1 for > Omnipay's check,and the final total will be $100.45. Or, just the 50 cents and use Cambist for the check, and get $101.45! > Note, that the price to the customer will generally be just > 1 percent less than what he sends to you, Nope. It will often be less than that 1 percent, because the payment receive fee is capped at 50 cents. If he sends more than $50, then it'll be 50 cents. Out of $100 purchased, the payment receive fee is $0.50/$100 or half a percent; out of $1000 purchased it is five hundredths of a percent, hmm? > if you compile several payments into one before taking > Omnipay's check. Or Cambist's check! https://cambist.net/fiat/goldchex.cgi Back to Patrick: >If you don't know WHO gave you WHAT, you don't know ANYTHING. :-O Well, if you don't, then visit your e-gold account and examine the history. It is all in there. >2. I sent that gold to Omnipay and now I have a check for $137.50 > in my hand. Better though, to send the gold to Cambist; saves you a dollar every time. Daniel: > I know who gave me the grams, I know why he gave me the grams. I > know the price per ounce when he gave me the grams.... I didn't > know that there were 31.---- The number is about 31.103 and a much more exact figure is available on the e-gold.com web site. > I still don't know how many $'s I actually received for the > 11.8263009 grams Actually, Daniel, you won't find that information easily. To get at it, you need the exchange rate from dollars to grams of gold at the time the gold was spent to you. Of far more interest to you is "about how much is this gold worth to me now?" That question is today's dollar price for a gram of gold multiplied by 11.8263009 grams. That figure is kept for you at http://e-gold.com/currentexchange.html and is presently $10.211 (see it in the AUG column, first row, it shows up in blue text on my screen). So, presently, you have $120.7583584899 minus the 50 cent payment receive fee e-gold charged you. With fluctuations in the gold price of the dollar, you'll want to think about this amount as $120. You were paid about $120 for some coffee and shipping it to you. That's what it is worth at the moment I'm writing this paragraph. > I don't know the actual value of the .048951 grams of gold > that were removed I do. That amount of gold was exactly 50 cents at the time it was taken as the payment receive fee. Exactly. Those grams were removed at exactly the same time the gold was spent into your account. I think the storage charge per month is on the average daily balance or something like that, and is one twelfth of one percent. The storage fee is not taken out for gold you remove from your account, so if you spend the gold over to Cambist, we'll send you a check for the amount of gold we receive, dollar for dollar. > when the gold was converted by omni it was converted > at $6.20 less per ounce than it was put in at Right. So, how much did that effect you? Well, $6.20 per ounce is a tiny bit less than 20 cents a gram. You lost about $2.36 due to the fluctuation in the gold price of the US dollar. Keep in mind, though, that if you keep dollars in a bank account, you lose value from your dollars every quarter, anyway, due to inflation. Since 1970, 90% of the value of the dollar has eroded away. Since 1913, about 98% of it has eroded. The longer you hold dollars, the less you have. Whereas gold's purchasing power has remained very steady for about 2000 years, or more. > next time someone orders CAPULIN for gold, don't pay in > grams use $ amounts....! Right! One can set up FastSCI, clicktwocents, and two-cents-worth, as well as the e-gold SCI to take dollars worth of e-gold. One can, but it isn't me, and it might not be you. However, I recommend you get with the Norse Coder or Sidd or someone (Tristan? Can we offer a good contract programming rate to Daniel so Capulin.com can have an e-gold shopping cart interface?) to set it up for you. http://8715605.thegoldcasino.com SnowDog says: > The storage fee is only 1% per year, so that would be > $1.21 per year. Yes, but it only charged on the gold you store for the whole year. It is taken out 1/12th of 1% per month, or evenly throughout the year, on the gold you have stored in the account. http://www.e-gold.com/unsecure/e-g-agree.htm In 4.3.1 it says the fee for storage is collected on the average daily balance. So, let's say that Daniel held the e-gold in his account for two weeks. He paid a fee for storage = $1.21/12/2 more or less, or closer to five cents. He would only pay $1.21 if he kept $120 in the account for a whole year. The storage fee is 1% per year, not 1% for holding it for a coupla weeks. Well, I do hope any of this data has been helpful to you. Keep in mind that you can order a check from Cambist for the face value of the check and save that $1 fee (minimum $50). You can probably get a better rate buying e-gold from Cambist, too. And if you get tired of US dollars, and want to hold a bar or coin of actual gold in your hand, we do that too! We just got in some astounding gold maples for less than 1.12 ounces per ounce, delivered to you! Regards, Jim https://cambist.net/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED] Use e-gold's Secure Randomized Keyboard (SRK) when accessing your e-gold account(s) via the web and shopping cart interfaces to help thwart keystroke loggers and common viruses.
