Ok, I know what it is. I did some reading on the website (www.e-gold.com) & a few articles I found around the web.
But what the heck? Do people really use this? Should they? Is it legal? Would I want to use gold instead of paper money? Is gold more secure than storing money in a traditional bank?
Anyway, sooner or later we’re going to find a huge asteroid full of gold or diamonds or other expensive metals, right? Wouldn’t that pretty much destroy this gold based global economy idea anyway?
i think this would be the criteria…that gold and money money dont stay together.
if you buy gold on the stock exchange and go for electronic accounting i suppose that is e-gold
in this wrapper are the commissions and underheads which are the motivating forces
its like the old game of bonding or whatever it was where money passed in and out of an account and got interest for the holder. not that its exactly the same but generates interest on the deposits
you can run a company on postage,packing and overheads and sell the goods at near cost in a small way.
Oooookay, I’m even more confused.
It’s legal. In some spots.
Is it real? Yes.
Would you want to put any of your own money into such a thing?
Only if you are the sort of person that only read halfway through Neil Stephenson’s “Cryptonomicon”…
Ye Gads…
Who? Googled it, still confused.