JP may wrote:
> My prediction: eventually Omnipay will go back to handing out spot for e-gold.
> e-gold is spotty (another incredible JPism), like it or not. It will
> never not be spotty. Not getting spot for it is stupid. If I'm
> paying a designer $1000 in egold, its inconceivable I'd pay or he'd
> want $1010. Get the fuck out of here - why? e-gold ROCKS, it's
> spotty, its much better than phsyical bullion.
We agree there, check my most recent post. Getting spot for it is key, but
if Omnipay pays spot that shrinks margins down to 2%, which is too low to
operate, so they would go back to a spot/4% over spot system.
> It absolutely *sucks* when you explain to new e-gold users, nowadyas,
> you have to say oh and when you click to get your dollars, they take
> away 1-2%. (sure, three people in the world understand what a market
> maker is, but that's the reality when you explain it to a newbie. it
> used to be GREAT, it used to be that if you were explaining to a
> newbie, yo'd just say "click to get all the dollar equivalent")
Contrary to Robert's opinion, I would not advocate selling at spot and
outexchanging at -10%. That won't keep money in the system because no one is
going to accept e-gold if it's worth 10% less. I advocate the opposite,
which is a culture that accepts e-gold at spot, which will promote e-gold's
wider acceptance. Then if tons of people accept e-gold, because hey, a
dollar in my e-gold account is worth a dollar anyway, then people might
consider keeping money in the system because a lot of people accept it.
New users who are bothered by the outexchange surcharge, like Robert's
recent customer, aren't going to be keeping money in the system. On the
contrary, they won't want to use e-gold again.
Placing a penalty in order to keep money in is like the capital controls for
nation states, where they want to improve their economy by penalizing it
when people want to pull money out. This is meant to decrease capital
mobility and is referred to in economic circles as a "Keynes Tax". But a
Keynes tax doesn't work and only keeps out new money, hampers routine money
transfers, and distorts markets. Setting up barriers and friction for money
and products only leads to bad consequences.
> e-gold is meant to be money, so you want to spend it to buy other
> crap (like USD or cars) at spot, by definition.
Yep.
- John
---
http://cambist.net
---
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.
