[e-gold-list] Re: Money Froze!!!! Latest Update of EE-Ventures
WOW! They have been in operation for all of 2 to 3 months. They must be legitimate. HAHAHA. On Mon, 18 Dec 2000 14:16:52 -0500, Jonn B. Goode wrote: They have been in operation since 10/00 and as we all know if they were a scam they would be gone by now either by their own demise or by government closure. The truth lye's in the fact they are still here and working. YEAH RIGHT!!! --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: Money Froze!!!! Latest Update of EE-Ventures
You know I am so impressed by your logic on this one that I think you might just be able to manage a little toll bridge I was planning on setting up in Brooklyn. Maybe you could make a modest investment in it and I'll make you Chief Operating Officer. I also have some beach front property in Nebraska that I would be willing to part with for a reasonable sum. On Mon, 18 Dec 2000 10:13:22 -0700, AIRX Enterprise wrote: Well said! And thank you! For a week now I have read these messages that put e-Biz down, but I bit my lip and kept my mouth shut. Well fellow e-Biz member, you took the words right out of my mouth. Thank you. A Loyal E-Biz Member [EMAIL PROTECTED] wrote: Privacy, You are incorrect about E-Biz, They will continue to use E-Gold just in a reduced manner, As the company has grown by leaps and bounds (over 25,000 in two months) it has become painfully obvious that E-Gold can not handle the surge of growth, This is by no means totally the fault of E-Gold as any company would be hard pressed to keep up with such unexpected growth. The reason for going to a offshore bank has NOTHING to do with paying taxes, Only that this is a bank that will allow E-Biz to operate the way it needs too. The way you suggest doing things is painfully complicated to the average person and would do those of us in the USA no good at all tax wise being E-Biz issues 1099's to us and we need to report all our earnings for tax's, You see E-biz is a real company with real people and is not a scam as most of us have become accustom to seeing on the net, I have seen many on this list try to tear E-Biz down in the past few weeks, These are simply people that have no clue what they are talking about! E-Biz is a sound,solid legal company based in the US and in compliance with all government regulations, They have been in operation since 10/00 and as we all know if they were a scam they would be gone by now either by their own demise or by government closure. The truth lye's in the fact they are still here and working. A very satified E-Biz member --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
True if you hold the e-gold, its ok. But if you use there is a question. And if you cash out, your screwed. It is just too much accounting work to tolerate. That is why no legitimate tax paying business can afford to use e-gold. It will cause their accounting departments too much headaches. It is useful for non-taxpaying entities only. And as such e-gold will always have a very limited exposure. On Wed, 20 Dec 2000 11:22:01 +1000, markab23 wrote: It could be argued that the question of capitalgain/loss does not occur unless you 'cash in' or bail out your e-gold. You are actually holding gold not a currency set against it as far as I know. Also tax offices also look at intention. If you are holding gold as a reserve or as an investment the case for capital gain/loss is clear. but if you are holding it for transactional purposes the case is no clearer than if you are using fait funds for transaction purposes which also may rise and fall in the market against other currencies. If you buy english oounds to buy something in the uk and during the transaction the pound rises suddenly have you made a capital gain? A capital gain is based on the investment of funds for into a investment body or subject which then returns a value ghigher than the original investment and only if the funds are then retrieved. This might all sound niaive and tell me if it doesnt make sense.= Original Message From [EMAIL PROTECTED] = I guess what I meant by "recognition" and as I think about it I realize it is a bad choice, is the IRS would recognize the receipt of e-gold as an income transaction and not a capital transaction. If you could treat 1.00 in e-gold as income instead of worrying about capital gains and losses, it would not be a problem. Glencannon Group Ltd. The problem isn't that receiving 1.00 in e-gold isn't considered income. The problem is that USD flucuates against 1.00 in e-gold. This is what capital gains/losses are. It is the same situation if you hold onto GBP, JPY, CHF, etc... The USD flucuates against them as well. The IRS doesn't claim that they aren't valid currencies. The only way to get rid of the capital gains/losses problem is to peg 1.00 of e-gold to x amount of USD. OR... You could just clear out your account at every possible instant. That way you can still accept e-gold, but not have the problem of capital gains/losses. Viking Coder --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] - Powered by http://www.telstra.com --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
I believe e-gold will have to be treated as a commodity purchase or as a foreign currency. Either way the accounting is cost prohibitive for any but the largest of transactions, or for non-taxable entities. On Tue, 19 Dec 2000 17:47:36 -0500, CCS wrote: I guess what I meant by "recognition" and as I think about it I realize it is a bad choice, is the IRS would recognize the receipt of e-gold as an income transaction and not a capital transaction. I see. And payment of e-gold as an expense... The IRS has some rules for taxation of barter trade, altho I am not familiar with them. I expect the IRS would treat use of e-gold as a form of barter. Another (much less likely) possibility is that the IRS would treat trade in terms of e-gold just like it does the business of corporations that do substantial business in a "foreign currency". How is that handled without getting into the same problem of accounting for every single transation of a foreign branch as a foreign exchange speculation? CCS --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
The issue of whether e-gold is valid currency is not the issue. It is the very fact that it might be treated as such that gives problems. And even if you cleared out the e-gold on each transaction, it is just too complex an accounting problem for serious businesses to deal with. With the caveat being tax-exempt businesses and transactions. On Tue, 19 Dec 2000 15:52:11 -0500, [EMAIL PROTECTED] wrote: I guess what I meant by "recognition" and as I think about it I realize it is a bad choice, is the IRS would recognize the receipt of e-gold as an income transaction and not a capital transaction. If you could treat 1.00 in e-gold as income instead of worrying about capital gains and losses, it would not be a problem. Glencannon Group Ltd. The problem isn't that receiving 1.00 in e-gold isn't considered income. The problem is that USD flucuates against 1.00 in e-gold. This is what capital gains/losses are. It is the same situation if you hold onto GBP, JPY, CHF, etc... The USD flucuates against them as well. The IRS doesn't claim that they aren't valid currencies. The only way to get rid of the capital gains/losses problem is to peg 1.00 of e-gold to x amount of USD. OR... You could just clear out your account at every possible instant. That way you can still accept e-gold, but not have the problem of capital gains/losses. Viking Coder --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
Craig Haynie wrote: Each transaction should be listed as a purchase or a sale of e-gold! You can list the item purchased or sold in the memo field. If I buy $1000 US in [snip] Maybe you should consider tracking your transactions in grams instead of dollars. If you are basing your business on E-Gold, then you should be using grams as your base currency. The dollar value of your transactions becomes mute. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
Maybe you should consider tracking your transactions in grams instead of dollars. If you are basing your business on E-Gold, then you should be using grams as your base currency. The dollar value of your transactions becomes mute. I think you're missing the point. At the end of the year, you are going to have to compute the capital gains tax on each transaction. If you are liable for US taxes, then you have to keep a record in US dollars. The dollar will only become 'mute' when the IRS accepts gold as payment, (or the capital gains tax is eliminated :) ) Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
BINGO! On Wed, 20 Dec 2000 14:06:17 -0600, Craig Haynie wrote: Maybe you should consider tracking your transactions in grams instead of dollars. If you are basing your business on E-Gold, then you should be using grams as your base currency. The dollar value of your transactions becomes mute. I think you're missing the point. At the end of the year, you are going to have to compute the capital gains tax on each transaction. If you are liable for US taxes, then you have to keep a record in US dollars. The dollar will only become 'mute' when the IRS accepts gold as payment, (or the capital gains tax is eliminated :) ) Craig --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
Of course the transactions can be tracked, but why? If I just take $100.00 I have one transaction to list, and no tracking of Cost Basis whatsoever. there needs to be strong incentive to incure this sort of inconvenience, and at this point the only incentive has been for scammers to use e-gold. Since they are breaking the law anyway, who the hell cares if they track capital gains implications of thousands of transactions. God help the people who participate in these scams however, because if the IRS ever gets wind of the potential of lost capital gains revenue, they will have a field day. On Wed, 20 Dec 2000 12:26:28 -0600, Craig Haynie wrote: I buy $1,000.00 US in e-gold. The price of gold goes down. I use $100.00 of e-gold to buy something. I now have a transaction that needs to be accounted for. In this case I will incure a capital loss, and say still have $850.00. Then someone buys something from me, and pay me in e-gold, $100.00. This is an income transaction. However, the price of e-gold goes back up to what it was when I first bought my gold. I have more or less $1,000.00. If I buy something else, what is the basis for the transaction. Each transaction should be listed as a purchase or a sale of e-gold! You can list the item purchased or sold in the memo field. If I buy $1000 US in e-gold, this goes in as an e-gold purchase, as it should. If I then SPEND $100 to Joe Blow for a used copy machine, then this goes in as a SALE of e-gold at the current exchange rate. If you want to list the copy machine as an EXPENSE, then you will need to flag the transaction in some way, as an expense, or you may need to list it on a separate line. (If you have to list it in a separate location, or on a separate line, as an expense, then I see where you're coming from. You may need to make a double-entry for all itemized expenses.) Craig --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
I agree with you that all this accounting business is a horrible headache, and that is the problem. Little guys can more or less just ignore it and hope the IRS doesn't find out and if they do hope the IRS just doesn't care. But if you are big company that does 1000s of transactions a day, e-gold would drive your accounting department bonkers. And they just can't ignore it and hope the IRS doesn't find out. On Wed, 20 Dec 2000 10:12:54 -0800, [EMAIL PROTECTED] wrote: I totally see your point - and agree that is the way things should be done if we are to study and learn all the official rules. But I get a headache thinking about how inefficient the process is. In my scientific mind I just use grams. Looking at your example, who derives value from all that?? All I can see is that it supports a few bureaucracies. It provides no benefits to the company, except to help it fail. For my company, I just want to have good numbers to see where the money is going, how much I have and make a budget. That is pretty simple if using grams of gold. No worrying about currency fluctuation, inflation, deflation (well really you would - but indirectly). To take your point further, with precision, we should include inflation deflation in all our accounting on a minute to minute basis. Never mind the fact that the governments figures are widely discredited. And what type of inflation are we talking about? Financial, goods, services, M1, M3, oil, gold, all of them in a basket? The problem is all this stuff is relative to everything else and subject to differences of opinion. My point, taken to extremes, is to use the mass (not weight) of gold, so that even a budding moon colony or space craft will not feel disenfranchised. Mass is not relative to anything I know of and can't be messed with by governments. We have a global economy, despite all vested interests, efficient business evolution will eventually create a simple way to transfer value. We can either wait till someone officially says the obvious or do it ourselves. ~"Everything should be made as simple as possible, but not too simple." Albert Einstein If this post is worth 2 cents send me 2 milligrams instead: 110237 :) choose to ignore the whole thing, maintain limited records on a few odd transactions, or don't use it at all because my head is starting to hurt. --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
The discussion we are having concerns the issue of whether e-gold is appropriate for US companies. NOt Belize companies. If you were located in Belize, or some other tax haven this whole discussion would be irrelevant. (MAYBE - A Belize company that does business in the US is bound to observe US tax laws.) But I suspect that most users of e-gold are neither foreign residents nor US residents who have properly structured their business activities abroad. As such they are stuck with the stinking IRS! On Wed, 20 Dec 2000 12:49:11 -0500 (EST), [EMAIL PROTECTED] wrote: At Wed, 20 Dec 2000 08:43:42 -0800 (PST), "Glencannon Group Ltd." [EMAIL PROTECTED] wrote: Of course accounting is a headache, and if you are small business company or individual with a small amount of transactions, you can pretty much ignore it. But if you are business doing millions of dollars in business, you can't. I thought glencannongroup was based in Belize. Are you complaining about record keeping for the Belize tax system? I am curious because this would definately take Belize off my list of locations for an IBC that does its transactions principally in e-gold. don IMPORTANT NOTICE: If you are not using HushMail, this message could have been read easily by the many people who have access to your open personal email messages. Get your FREE, totally secure email address at http://www.hushmail.com. --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Accounting (was Re: E-gold scam survey
At 08:33 AM 12/20/2000 -0800, Glencannon Group Ltd. wrote: However, if you are a "serious" business and thinking of using e-gold, it is really hard to justify it. If you do any more than a few transactions a day, you will really need to retain another bookkeeper for a few more hours a week to handle the accounting work. And if you are larger company, it could involve hiring a new staff member or members to handle the accounting requirements. And when you look at the e-gold world it is just not worth it. Why? It's a simple layered FIFO inventory tracking method with an adjustment at the end of the period, i.e., quarter, year, etc, for the gain or loss. It can be done quite easily with many software products or on a spreadsheet. We do it internally now. George __ George Matyjewicz, Chief Executive Officer Standard Reserve Corp. -- Atlanta, GA Acct# 120018 Tel: 770-300-3070 Ext 2818 World Wide Currency for the World Wide Web http://www.standardreserve.com mailto:[EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Tax Implications/accounting (was E-gold scam survey)
Hi, I have been watching this conversation and am interested in the view that most people are taking. I don't have any experience of US tax laws or the IRS code on capital gains tax, but in most countries, there are fairly open guidelines about capital gains taxes that are "interpreted" on a case by case basis. For instance, if you bought and lived in your family home for 6 years, then after having a couple of kids, sold and bought a larger house, even large profits realised in the sale of your first home would not usually attract capital gains tax. If on the other hand you bought and sold 3 houses in a month, you would certainly attract some capital gains tax. The difference is that you are speculating. It would be open to interpretation if utilising e-gold for daily transactions could be considered as speculating, since your "intention" is not to create profits by trading gold. In fact on many daily transactions, you may even lose profit, meaning you could claim capital losses and reduce your tax burden! Another point that everyone here seems to have completely overlooked is the fact that accounting software is extremely complex stuff that does an incredible job of looking after the finances of a business. Even large businesses usually have more data entry personnel than real accountants and bookkeepers these days, the software does it all. If a large firm saw the advantage of using e-gold for thousands of transactions a day as has been suggested, it would be an INCREDIBLY SIMPLE matter to have an accounting module added to their existing software that would do ALL the extra work necessary to take into account the capital gains/losses and include the results in the various balance sheets. All that "may" be necessary, depending on the structure of the businesses payment model, would be an extra field in the input form like: e-gold transaction? Yes|no. this is a total no-brainer :-) Have you ever been to a duty free shop at the airport? Those guys accept any currency you could hand to them without the blink of an eye, select the appropriate currency on the register, and without a twitch, complete the transaction AND give change. That is a MUCH more complex operation than accepting e-gold and I guarantee the DF shop owner doesn't lose any sleep over his accounts. It is all handled by his software. If you want to use information age currency and solutions, you have to stop thinking of "industrial age" methods and move on to the relevant technology. Anyone who can't see how simple it all really is, just doesn't realise the capabilities of modern information systems. Regards, Sidd. -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of Glencannon Group Ltd. Sent: Thursday, 21 December 2000 12:21 To: e-gold Discussion Subject: [e-gold-list] Re: E-gold scam survey The discussion we are having concerns the issue of whether e-gold is appropriate for US companies. NOt Belize companies. If you were located in Belize, or some other tax haven this whole discussion would be irrelevant. (MAYBE - A Belize company that does business in the US is bound to observe US tax laws.) But I suspect that most users of e-gold are neither foreign residents nor US residents who have properly structured their business activities abroad. As such they are stuck with the stinking IRS! On Wed, 20 Dec 2000 12:49:11 -0500 (EST), [EMAIL PROTECTED] wrote: At Wed, 20 Dec 2000 08:43:42 -0800 (PST), "Glencannon Group Ltd." [EMAIL PROTECTED] wrote: Of course accounting is a headache, and if you are small business company or individual with a small amount of transactions, you can pretty much ignore it. But if you are business doing millions of dollars in business, you can't. I thought glencannongroup was based in Belize. Are you complaining about record keeping for the Belize tax system? I am curious because this would definately take Belize off my list of locations for an IBC that does its transactions principally in e-gold. don IMPORTANT NOTICE: If you are not using HushMail, this message could have been read easily by the many people who have access to your open personal email messages. Get your FREE, totally secure email address at http://www.hushmail.com. --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] Glencannon Group Ltd. http://www.glencannongroup.com/ [EMAIL PROTECTED] [EMAIL PROTECTED] (for a more secure email) fax: 419-710-4339 _*_*_*_*_ For an e-gold funded Debit Card: http://www.glencannongroup.com/genucap/ ___ Send a cool gift with your E-Card http://www.bluemountain.com/giftcenter/ --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe
[e-gold-list] RE: Accounting (was Re: E-gold scam survey
At 08:33 AM 12/20/2000 -0800, Glencannon Group Ltd. wrote: However, if you are a "serious" business and thinking of using e-gold, it is really hard to justify it. If you do any more than a few transactions a day, you will really need to retain another bookkeeper for a few more hours a week to handle the accounting work. And if you are larger company, it could involve hiring a new staff member or members to handle the accounting requirements. And when you look at the e-gold world it is just not worth it. This statement really just illustrates a lack of understanding of modern accounting practices, and more especially a lack of understanding of modern accounting software. Australia has just introduced GST. Perhaps many businesses who think in this way have had to hire new personnel to deal with the extra bookkeeping burden. Most though, probably just upgraded their accounting software for a few dollars and did a bit of staff training. No problem :-) Regards, Sidd. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
The dollar will only become 'mute' when the IRS accepts gold as payment I know this may sound strange, but The I.R.S cannot and will never accept gold as payment for tax. Gold and Silver is defined under US law as real money but Federal Reserve notes are not (Legal tender). If fact the IRS can not tax pure gold at all but I don't think they will let you see it that way. Vic -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf Of Craig Haynie Sent: Thursday, 21 December 2000 09:06 a.m. To: e-gold Discussion Subject:[e-gold-list] Re: E-gold scam survey Maybe you should consider tracking your transactions in grams instead of dollars. If you are basing your business on E-Gold, then you should be using grams as your base currency. The dollar value of your transactions becomes mute. I think you're missing the point. At the end of the year, you are going to have to compute the capital gains tax on each transaction. If you are liable for US taxes, then you have to keep a record in US dollars. The dollar will only become 'mute' when the IRS accepts gold as payment, (or the capital gains tax is eliminated :) ) Craig --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] RE: E-gold scam survey
Imagine what the result would be if you searched on "money" or "make money", or "dollars"! ... at least with an exhaustive survey of the whole returned results. In the previous case the 'sample' was really 20 and the population was 2000. e-Gold is a means of exchange and a store of value that has some distinct advantages over government or bank issued/created money. Scammers and other individuals and corporations will use both, and encourage whichever is the most efficient for them. This does not mean that the tool itself is bad. If a money-making scheme seems too good to be true, it is quite likely to be so. People need to think critically and evaluate the trustworthiness of any entity they deal with. This is a need that remains from ancient times. These days, however, we through the Internet have the capacity to come into contact with many more people, with less reliable authentication than the old way of meeting them in person. For this reason it is imperative for a better development of Internet commerce that people increasingly learn to use authentication and security and to understand the exactly *who* is authenticating or verifying the individual or organisation in question. This is what "certification authorities" are for, but PGP signatures can be just as good ... if you already trust or know the other person's other contacts. Regards, Ian Green aoShop.com -Original Message- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of CCS Sent: Tuesday, 19 December 2000 5:19 AM To: e-gold Discussion Subject: [e-gold-list] E-gold scam survey I did a little research. I did a simple search of the web for "e-gold". It returned over 3000 hits. Looking at the first 20 hits there were 4 obvious scams (and 4 other ads for internet gambling sites). If this extrapolates to the whole sample then there would be over 600 scams involving e-gold. It gives one pause. A substantial part of the growth in e-gold activity may be driven by scamsters. CCS --- You are currently subscribed to e-gold-list as: [EMAIL PROTECTED] To unsubscribe send a blank email to [EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Glencannon's wrong, IMO
Here's why. Substitute "Yen" when he says or means "grams of gold" and you'll see that it does not make sense anymore. A big multinational won't LIKE having another currency to deal with, but they're entirely used to dealing with a variety of currencies every day, and with computers it's no big problem for even relatively-small businesses to calculate capital gains and losses (I'm at a loss as to how storage or spend fees play into this, especially since one gets calculated in weight and the other in dollars). Clearly not all financial activity in the e-gold system is reported to tax authorities, nor should it be IMO. That makes e-gold no different than dollars, and the federal government will probably figure that out, eventually, after wasting lots of time and money first. I also think the root of e-gold and OmniPay's customer service problems is indeed scams like "ebiz," which appears to be merely a particularly brazen and well-done Ponzi scheme. If I am wrong about this (I have not signed up for their service, as I don't trust them with my gold!) then could one of their proponents please give a coherent answer as to exactly what business they DO do??? One guy on the free-market.net board suggested they're identity takers, which makes sense, considering they want your tax info while failing to identify themselves to you in any way. No response to him yet from the scammers... Anyway, the problem with scams is that it brings a new and much stupider crop of folks in to try and understand e-gold, which has never been that simple even before scams started misrepresenting grams as "dollars," because it makes the scammin' easier than a truthful explanation. BUT, stupid as these newcomers are (and we've spent the last week watching them get skewered here, apparently Delphi's more welcoming to idiots with more hope than sense!) it's hard to feel sorry for them, because even they know it's a scam, and these fools seem universally to be relying on an even- greater set of fools to come along double/triple their money in X days. The problem is that even dimwits, thank god, have limits on how fast they can breed, and scams are so desperate and running out of morons that they actually refer to the failures of previous scammers instead of just keeping mum. Stupider people take more customer service time and money than college-educated, hard money conservative economics types that used to populate this list in the old days before scams like ebiz came along, and we suffer for it if we need help from OmniPay... Will scams ever go away entirely? No, not as long as greed accompanies stupidity, BUT I predict Glencannon is exactly wrong, and that more "mainstream" companies WILL pick up e-gold. They're sheep, and they're not especially smart, but all it takes is one and the rest will follow [while saying it was their idea]. I predict even the mainstream media will finally notice e-gold next year, and they will grow like mad then. In fact, I think that Amazon.com is going to have an e-gold account 365 days from now or, alternatively, they'll be in bankruptcy. e-gold seems to be about the only thing that can save both them and a lot of other fundamentally-fucked-up dot.com's, and that's going to work to all our benefits (even Glencannon's) in the gold economy next year. IMNSHO, YMMV, etc. jammer99 Barbara Feldon rulez 86 IMPORTANT NOTICE: If you are not using HushMail, this message could have been read easily by the many people who have access to your open personal email messages. Get your FREE, totally secure email address at http://www.hushmail.com. --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: HOLA AMIGOS!!!!!!
At 04:21 AM 12/19/2000 +, eric gomez wrote: hi, my name is eric gomez, I am panamenian . i recently opened an accountin www.e-gold.com, because i am gonna receive money from a friend. I want to ask you a question. How can i transfer funds of an e-gold account in cash ?? I know that there are some independent companies who do this. Could you suggest me the best one in your opinion ???. What if i raise 250,000 USD in my e-gold account. would be any restriction in convert it into cash ?? what would be the best way to do it ?? help me you have more experience. _ If you apply for a Standard Reserve Instant Anywhere account you will get a pin-based debit card which can be used at any Cirrus or Interlink ATM worldwide. You will have to transfer your e-Gold to Standard Reserve Gold or Dollars, as it is not linked to e-Gold. If you haven't purchased e-Gold, you can purchase Standard Reserve Gold without having to go through an exchange. For further information visit http://www.standardreserve.com or give us a call. George __ George Matyjewicz, Chief Executive Officer Standard Reserve Corp. -- Atlanta, GA Acct# 120018 Tel: 770-300-3070 Ext 2818 World Wide Currency for the World Wide Web http://www.standardreserve.com mailto:[EMAIL PROTECTED] --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
But if you are big company that does 1000s of transactions a day, e-gold would drive your accounting department bonkers. And they just can't ignore it and hope the IRS doesn't find out. I disagree again. Take the company I work for: $200 million a year, using about 6 different currencies every day. However, I wrote the billing software for them, and the accounting software they use is designed to work with multiple currencies. I won't go on any further, but I simply do NOT see the problem. E-Gold transactions are just data, and the manipulation of data can be automated. Indeed, it's the smaller companies that may have a harder time, but the larger ones won't even blink. Sincerely, Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Re: E-gold scam survey
The dollar will only become 'mute' when the IRS accepts gold as payment I know this may sound strange, but The I.R.S cannot and will never accept gold as payment for tax. Gold and Silver is defined under US law as real money but Federal Reserve notes are not (Legal tender). If fact the IRS can not tax pure gold at all but I don't think they will let you see it that way. Vic This is, indeed, my point. The original comment was that all e-gold transaction account should be left in 'grams'. However, US citizens are required to report all capital gains issues, and therefore they must keep a record of each e-gold transaction in US dollars, (even if they also keep a record in 'grams'). The IRS will never let them report their tax burden in 'grams'. Craig --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
[e-gold-list] Financial Cryptography 01 preliminary program
--- begin forwarded text Resent-Date: Wed, 20 Dec 2000 22:30:40 -0400 Date: Wed, 20 Dec 2000 18:29:40 -0800 From: Stuart Haber [EMAIL PROTECTED] To: [EMAIL PROTECTED] Subject: Financial Cryptography 01 preliminary program Resent-From: [EMAIL PROTECTED] Resent-Sender: [EMAIL PROTECTED] Financial Cryptography '01 February 19-22, 2001 Grand Cayman Marriott Beach Resort Cayman Islands, BWI FC01, the fifth international conference on financial data security and digital commerce, will be held in on Grand Cayman Island, British West Indies. FC01 aims to bring together persons involved in both the financial and data security fields to foster cooperation and exchange of ideas. The conference is organized by the International Financial Cryptography Association (IFCA). Preliminary List of Papers to be Presented Off-line generation of limited-use credit card numbers Avi Rubin and Rebecca Wright Efficient fair-exchange with signature recovery Olivier Markowitch and Shahrokh Saeednia On the security of homage group authentication protocol Eliane Jaulmes and Guillaume Poupard A security framework for card-based systems Yiannis Tsiounis Copy-protected internet content distribution Tadayoshi Kohno Mutual authentication for low-power mobile devices Markus Jakobsson and David Pointcheval Fair tracing without trustees Dennis Kugler and Holger Vogt Amortized e-cash Moses Liskov and Silvio Micali Offline micropayments without trusted hardware Matt Blaze, John Ioannidis, and Angelos Keromytis The power of RSA inversion oracles and the security of Chaum's RSA-based blind signature scheme M. Bellare, C. Namprempre, D. Pointcheval, and M. Semanko Nonmonotonicity, user interfaces, and risk assessment in certificate revocation (Position Paper) Ninghui Li and Joan Feigenbaum SecureClick: A Web payment system with disposable credit card numbers Adi Shamir Trust: A collision of paradigms L. Jean Camp, Helen Nissenbaum, and Cathleen McGrath Monotone signatures David Naccache, David Pointcheval, and Christophe Tymen (M+1)-th price auction protocol Hiroaki Kikuchi Non-interactive private auctions Olivier Baudron Provably secure implicit certificate schemes D. Brown, R. Gallant and S. Vanstone Distributed computing with payout: task assignment for financial---and strong---security Philippe Golle and Stuart Stubblebine Privacy for the stock market Giovanni Di Crescenzo Anonymity without `cryptography' Dahlia Malkhi and Elan Pavlov The practical problems of implementing MicroMint Nicko van Someren Rump Session In addition to the regular conference program, a rump session will be held on the evening of Tuesday, February 20th to provide an opportunity for less formal presentations. The rump session will be chaired by Rebecca Wright of ATT Labs. Although the rump session will be organized during the conference itself, advance proposals may be submitted by email. (Send at most one page of plain Ascii text to Rebecca Wright at [EMAIL PROTECTED], by midnight Eastern time on Thursday night, February 14, 2001.) Rump session contributions will not appear in the conference proceedings. Exhibition An exhibition will be held in conjunction with the technical program, with product displays, demonstrations, and presentations of a business-oriented nature. Scientific sessions are primarily scheduled for the mornings and exhibition sessions for the afternoons. Registration Registration can be done via the web at http://fc01.ai/. The fee for the conference, which covers all conference materials and events (including preproceedings, final proceedings, attendance at scientific sessions, and breakfast and lunch each day of the conference), is: $850 regular registration $350 academic registration $150 student registration An additional $150 fee applies to registrations for which payment is received after January 15, 2001. A $100 discount ($50 for academic and student registrations) is available to participants who pay their registration fee by electronic money. Payment may be made by credit card, bank transfer, electronic money, or cash. Additionally, some local payment methods from various countries can be accepted via Bibit Internet Billing Services. Stipends A limited number of stipends to help defray the costs of attendance may be available to full-time students with a paper accepted for presentation at the conference. If you would like to apply for a stipend, please contact the General Chair at the email address listed below. Hotels The conference will be held at the Marriott Beach Resort Grand Cayman, and rooms have also been reserved at two nearby hotels, the Comfort Suites and the Sleep Inn Resort. MARRIOTT BEACH RESORT The Marriott Beach Resort
