Regarding [EMAIL PROTECTED] Sat, 04 Jan 2003 11:22:25 -0500
Subject: [e-gold-list] Re: [dgc.chat] New DGC - VirtualGold
I thought the statement about gold backing was a little bit dubious, as
e-gold is accounted for in troy ounces, not grams, although it is also
spendable in units of grams and a bunch of currency equivalents. Also "gold
grams" is suggestive of GoldMoney gold grams.
Certainly even though e-gold = 100% gold, and VirtualGold is claimed to be
100% backed by e-gold, as is the case with 1MDC. It should be made clear on
the web site.
The statement about "is converted to US Dollars to facilitate easy spending
on the internet" I thought was even more uncertain! It certainly does not
inspire confidence that the system will be as easy to use as e-gold for
spending in weights valued in quite a few different currency units. Of
course, nowhere would e-gold make a statement that the e-gold was actually
converted into US dollars or some other currency.
VirtualGold has a long task ahead to earn the trust of DGC users, let alone
prove their statement: "The VirtualGold system will provide more features
than any other DGC online."
Ian Green
http://iangreen.2cw.org/
http://ao.com.au/e-gold.htm
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