... I used the term DGC a bit more loosely, as it seems to be becoming a common practice, even for currencies that have no known backing and dubious backers
Robert's right, it's an excellent point. The fact is "DGC" does not at all MEAN "actual gold" or "100% backed" or anything like that, and as Robert says the other fact is DGC is often used to mean quasi-gold systems, OSGold, evocash or the like.
"DGC" is no good anyway, because, who says it is or should be used as a "currency"? The fact is it's gold that you can transfer ownership of on a web page -- the fact that that leads to it being USED AS (sometimes) a currency, is just a benefit.
I killed off the earlier "GBC" (remember that?) since it contains the word "backed" which implicitly means fractional reserve (even if it's "100% backed" that;s not the same as "actual gold we store for you) (For instance, a 1% "backed" GBC would be a GBC.)
I suggested at one point using some sort of complex acronym, it was something like .. FAGWANE -- "fungible actual gold [--forget these two letters--], no encumbrances"
Other catchy ideas are say, AGOTBI (Actual Gold, Ownership Transferable By Inernet)
Then there's the gaining-in-popularity "IG" -- "Internet Gold" which is fairly direct. (It's Just "gold" and that's it - it's internet-type gold, but it's just gold) althogh it is not absolutely positively an explanation of the situation (like FAGWANE or maybe AGOTBI)
The very point is that the ideal acronym or name (maybe "internet old") should very specifically absolutely reject the notion
Pay me five grams of AGOTBI at this time if anyone liked this post :-)
--
--- 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.
