You want to use INTGold, go nuts.
I like to use opportunities such as this one to point out that the archive for this list (which can be found by visiting this link: http://talk.e-gold.com/cgi-bin/lyris.pl?visit=e-gold-list and is a fully searchable archive) contains many posts by GK in which he expressed his desire to use OSGold.
In my view, to use the vernacular, he was nuts for OSGold. Even in, say, May 2002 when OSGold was showing signs of its impending collapse, GK was right in there promoting it as an excellent currency, judging by what I've read.
OSGold was an utter failure as a currency. Its use of the word "gold" in its name was clearly fraudulent. It had no gold. There was no provision for redeeming OSGold into actual gold. By some accounts, tens of thousands of users got burned, and burned badly. By GK's own account, he got burned.
Yet, he remains committed to INTGold, it seems.
The similarities:
OSGold had no gold in inventory, yet promised it was 150% backed by gold; INTGold has not proven that it has gold in inventory to my satisfaction, has no method for redeeming INTGold for actual gold, and has some amazing disparities in its price of gold valuation, last I looked.
OSGold was a vehicle for promoting OSOpps which used OSGold in a Ponzi scheme. Ponzi schemes are fraud. Fraud, for those of you looking for value judgements in a world fraught with moral relativism, is bad. INTGold has a merchant directory in which several apparent Ponzi schemes are promoted; these Ponzi schemes appear to use INTGold as a currency.
Both OSGold and INTGold appear to be using the word "gold" in their name to play on the thousands of years of high reputation of gold as money.
I think it is possible to exchange INTGold without being a terrible person. I have, for example, nothing against either AnyGoldNow.com or GoldAge.net, both of whom are exchangers of high reputation with me. I do think both have had a lapse of judgement in agreeing to exchange INTGold.
In the case of GK, I think the lapse of judgement is one that goes back a good long ways. Whatever it was that convinced GK that OSGold was a good thing doesn't seem to have been changed in the least by the fact that OSGold went under. I've seen no indication of regret nor any act of contrition. For this reason, and for others, I do not trust GK. He might be a fine fellow, but I don't choose to do business with him.
Regards,
Jim
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