It never ceases to amaze me how after all these years, Graham still has such a limited understanding of how these internet currencies and ponzi scams work!
he says: : The single and only REASON why it [OSGold] failed was CEO Reed : eventually scarpered with the bucks. Can't you see Graham, there were NO BUCKS LEFT to scarper with! The ponzi scam had used up all the money... all the issued OSGold was worthless for a LONG TIME before the fiasco crumbled. The only thing that kept it alive as long as it lasted was because people were not redeeming their OSGold, but were putting it back into the ponzi... as soon as enough people decided to pull their cash out, that was the end. : OSGold, as an ecurrency, was very successful. Nonsense, as an e-currency, OSGold was an absolute disaster. As a payment mechanism to extend the life of the scam it was highly successful. Certainly, for the vast majority of the time that OSGold operated, the currency was probably almost worthless, because there was no substance behind it, the people holding OSGold simply didn't (want to) realise this. : Indeed, what amazes me is that Reed was getting 50c from every spend. : Potentially, he was not only sitting on a gold mine, he actually had a : licence to print serious money! I wonder why he scarpered with only the : few millions he stole? Obviously, he was thinking sort term gains only. Nope, again you demonstrate your lack of understanding of the situation. The money was gone on the payouts to the early winners... then reed saw the wheels were falling off and he ran... I bet he had very little money left to run with. How do you know he got away with a few million? I doubt very much whether you will understand this because I have explained this to you at least twice before. I too share Craig's wonder at your motives, do you really not understand this, or is it merely convenient to "pretend"? Sidd. --- 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.
