I'm wondering if the issue boils down to two items: 1) e-gold transactions are irrevocable and 2) perceived difficulty, expensive and risk of converting fiat currency into digital metals?
1. All spends are revocable
3. Easy entry to the system, not like e-gold. The major drawback that e-Gold has is how difficult it is to get funds into the system. Many debit cards are available to extract funds. But you still need to send cash to a MM to obtain funds.
4. The value of my holdings doesn't fluctuate as it does with e-Gold. If I have $100 in PayPal, it remains as $100. And I don't have to calculate grams to dollars. As a retailer I have a simple process: I have a product; you want a product; I sell you that product; you pay me for that product. I don't want to know about grams, price fluctuations, etc.
These seem to be the two items that are maybe inhibiting wider acceptance and use of digital metals. Item #1 seems to be what is attracting the scammers plus the age-old greed for gold. Item #2 seems to be inhibiting more of the (unsophisticated) masses from getting into this new method of transacting commerce.
If this is accurate what would be the effect of somehow appropriately dealing with these two issues? If they could be that is. Possible solutions:
For Item #1 (customer and merchant issue) merchant quarantees satisfaction or metal back?
For Item #2 (customer and MM issue)
???? If an e-gold transaction were revocable the MM might be in a better position? I'm not an MM and am not aware of all the issues. By being irrevocable is not the customer being more trusted by e-gold than the MM and merchants? I.e., customer (scammer?) is protected by e-gold policy but MM not. Is something a bit lopsided here?
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