> Now with your repudigold, what happens if I am a clever merchant, and I set > up my site so that every payment I receive through the sci is immediately > paid to another account. Now you as a distressed customer come to charge > back and find there are never any funds available.
Would it not be simple to make all repudiable payments go into a trust account only, or possibly even the users account only but without the power to exchange to others at all until cleared? Seems easy enough. > > It is simply an unworkable system if you think it through... if you start to > allow credit, you must carry that risk... and then you are competing > directly in teh same market as credit cards... you will lose. I dont see any need for credit at all. The purchaser/spender has paid with real e-gold which is either held in trust for 15 days or totally unspendable until cleared. Much the same way as Credit Card payments can be held until cleared within many systems. -- _______________________________________________ Sign-up for your own FREE Personalized E-mail at Mail.com http://www.mail.com/?sr=signup --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] 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.
