> John, this has already been done, JP built bamdex.com... nobody used > it so he had to close it down :-( > Sidd, JP, John, Patrick, Everyone,
Like so often JP had the right idea, the wrong marketing and was "WAY" too early :p No hard feelings, JP, but Bamdex was just ahead of it's time. e-gold is still that hair's breadth away from reaching critical mass when it can sustain a micro-economy on it's own. Then and only then, organizations like Bamdex and indeed a Gold Savings & Loans are the next facilitators the market space will need. We are working on latter and have concepts for the other as well - although with a certain extra twist. Let's face it, every exchanger that's worth his 1mdc deposit would love to be able to take those larger deals he can't afford to keep for himself and pass them straight on. A lot of talk has been on the list about free markets, laissez-faire, etc. but to date nobody questioned the obvious chain around our collective ankle: the spot price! Ultimately we will need a solution / provider / plattform that allows insiders to trade in normal bid/ask exchanges without the shackles of the spot price. Of course, because of the importance of redeemability, in the end of the day the spot price will still set the values, but during an average trading day, the system that is cursed by three to seven days delays in transaction completion, would immensely benefit from real time trades. Right now there is a guy who is trying for three days to sell a larger amount of e-gold, but he doesn't know whom to trust and indeed is reluctant to do the spend at -1%. At the same time, the handful of exchangers who could easily absorb five digit amounts (those who REALLY can) don't have a way to pay out faster than anyone else <plug type="sales">unless the seller is in Asia and the exchanger uses our services, of course</plug>. Now, with an exchange the trade could be handled by any subscribing exchanger in a matter of minutes, large amounts could be distributed among several buyers who maintain accounts with the exchange and at the end of the day, the settlement system sends a wire to whoever it was that sold more gold than he bought on that day. My bet is that at times like now, e-gold would typically exchange for up to 2% below spot, but in an uptrend market it would easily outsell the spot price by 5% or more. This in turn means that the daily risk for exchangers would be eliminated, while users could exchange at 'any time' at 'market value' rather than spot price in three days +3-5% to buy and spot price when the exchanger feels like it -1% to sell. It'll happen, because it has to. Without, we'll always be not only slaves to the spot market but also the USD and it will always be the banks who make more than anyone else on e-gold trades ;o) Just my 2 cents +3% Cheers, Robert. budget & privacy website hosting http://www.cyberica.net budget & privacy domain registrations + mail http://www.u2planet.com/cfdomaintrust.html --- 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.
