Bruno Garcia wrote:
I find this situation fairly amazing. E-gold has been in operation for several years now and still there is no accountability, arbitration or method of dispute resolution. Perhaps this is on purpose? What purpose then is being served in maintaining non-accountability? Such a situation is tantamount to incompetence and irresponsible. Many readers won't like the following suggestion. I do not really like it myself. But the fact remains that until and unless there is some form of accountability established e-gold will not become anything more than a great idea that could have been something great.I find there is too much chaos, and the Exchange Providers are not regulated in any way. The chaos actually reigns over the e-gold economy. Maybe 70% of the people who use e-gold are scammers,
It would be a simple thing to have ALL exchange agents (EA) held accountable. These people operate in a priviledged position of trust - without which trust e-gold will never develop. EAs ought to be 100% trustworthy which implies complete transparency as to location, jurisdiction, owners, etc. They must be actionable in some way. If e-gold certified* these EAs some of the growing nastiness associated with e-gold would disappear, trust in the e-gold system would be restored and perhaps we would see some growth as people learned they could operate with some degree of safety. Right now working with e-gold is like walking through a dark forest filled with bear traps and roving wolves. Under these conditions e-gold will never become what it could be.
*Certification would be something simple like full disclosure (of EAs) at least to/within e-gold, Inc. as to location, ownership, jurisdiction and an agreement to abide by simple but solid rules of conduct, enforcible by revocation of priviledge, possible seizure of assets and/or mandatory arbitration in the event of disputes. Because of the jurisdiction issue this might be a perfect opportunity to evoke Common Law courts made up of e-gold members as jurists. There must be someplace and some means of resolving disputes and establishing accountability. Right now e-gold, Inc. and many e-gold members operate under the reverse Golden Rule: Do unto others before they do unto you. I realize fully the detrimental potential of too much government or regulation. However for a society (and e-gold is a society) to prosper there must be some social rules of conduct. In face to face business many can excel in ordinary business but when scandrels can hide behind anonymity like lurking predators even the best discerners of character may be foiled. E-gold is a society where the scoundrel (pirate) can prosper. Maybe we need a Jeffersonian pirate sweep.....
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