What is e-gold all about?

[MatrixWatch]

I've heard all of this talk about e-gold. What is it all about, and what makes it so popular?

[CurtXxX]

It's about nothing. Leave it alone.

[hurley9192]

that's funny Curt...from your perspective, that was a great answer. LMAO Even if we are different sides on this thing, that was a great answer.

Watchdog, I would think that you could find the answer to it on matrix-sites or matrix-news.

[Arzel]

e-gold games are straight ponzi schemes, for the most part. Some of them are risky high yield investments, much like day trading.

The risky high yield investments are probably legal, but very risky nonetheless. The others will not last very long, but I don't think it will matter much what we do, because they are ponzi schemes they will be shut down when the FTC begins to become aware of them. Even the ones outside the US will not be safe becuase most countries have laws against ponzi schemes.

[northstar5757]

Arzel is correct.

I have personally followed several games. They are often set up under yahoo/lycos/msn groups where they can quickly be deleted if anything goes wrong. As a result mebers lose contact with each other when the site is disbanded. Often these sites never explain how the money is being made in the first place (does appear to be a ponzi since they always encourage their members to bring in their own personal family members).

They frequently take up the notion of a family within the scheme. The owners of the game treat the members as great friends and sadly enough often many of the players are lonely or at a tough time in their life (easy victims). The owners call the scheme a "game". I'm not quite sure why but it appears to have some legal significance.

[MatrixWatch]

I found a great deal of information on these e-gold sites through http://www.goldgames.org/. I would still like to know exactly how they work as I do not have an opinion on them either way.

[Agent|Star]

Heheh I still havent taken the time to look into e-gold... Im not interested... I would consider it very risky thou. A lot of matrix people do e-gold as well for kicks LOL! Not me. :cool:

[MatrixWatch]

I noticed that the District Red Newsletter was partially devoted to these e-gold games. What is the whole story on these things? Which e-gold sites are the largest? Why do they call it "e-gold"?

[MatrixWatch]

e-gold seems to be growing. Can anyone give us some info on this new quick-money maker?

[Gasaraki]

e-gold is more or less an online currency which supposedly is backed by gold (there are other e-metals). Therefore, the price of e-gold is correlated to the price of gold and the exchange rate is different all the time. In my opinion it’s only good for online transactions, just like digital credits. One can use e-gold to buy items or services from those merchants who accept e-gold or transfer e-gold to another person that accepts e-gold. Well…. I guess one can also try to hide or transfer one’s wealth by using e-gold as some offshore banks do accept e-gold deposits. But I don’t know how cost effective that is and if it’s worth all that trouble. Personally, I wouldn’t touch e-gold as it’s too expensive to buy and keep.

What I think is going on now is scammers are using e-gold as a tool to scam people’s money. A lot of those e-gold investment programs are offering daily 2%+ fixed interest! THAT’S TOO GOOD TO BE TRUE! SCAM! SCAM! SCAM!

For those interested in reading about e-gold and etc,
see here (http://www.e-gold.com/unsecure/qanda.html)

[Agent|Star]

Yep GaS... I agree e-gold is now the newest option =o\

[matches111]

It has come to my realisation that about 90 % of all investement programes on the net will accept e-gold as a methord of payment,while about 3% will accept intgold .

To transfer money on line effectively , it becomes 100% nessery to heve an e-gold account.



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[jokach]

Please read the forum rules before posting referral links. This is warning number one.

I think you should also realize that this site does NOT support those schemes, so to spam the forum with referrals kind of cuts into the credibility, eh?

jokach

[MatrixWatch]

The participants of these schemes should also know that the accepted payment processors (e-gold, int-gold) hold their funds in offshore accounts. That means that if something goes wrong, you can't sue for restitution like you can with PayPal, or other US-based processors.

Bottom line.. Watch out, and stay clear of these programs. As I've researched them I see that they have put a tremendous amount of energy toward efforts that would protect them if they disappeared one day, and took all of the money. The owners are virtually invisible, no lawyers will get involved because of all of the red tape, and the customers have virtually no rights.

If you are involved with one of these "gold" scams then get your money back ASAP.

[kennethtan]

e-gold is 100% gold backed currency. It serves the same purpose as the money in your purse or bank account. Once you have bought some, it is available for you to use on the internet, like electronic money.

e-gold was the first digital (electronic) currency. It has been online since 1996. e-gold is accounted by weight of metal, not US$ or any other national currency unit. e-gold is 100% backed by gold bullion, which is stored in secure vaults in Canada and Dubai. e-gold also operates and issues other e-metals: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.

[js1237]

Hello All,

I am new to HYIP,s and this egold concept and ...So my question is very simple...
Are there any reputable, proven HYIP's? Many Thanks, JS..

[HonestIncome]

Hello All,

I am new to HYIP,s and this egold concept and ...So my question is very simple...
Are there any reputable, proven HYIP's? Many Thanks, JS..
All HYIP's are ponzi scams, I challenge anyone to prove otherwise

They are all basically illegal too

[mercinary]

All HYIP's are ponzi scams, I challenge anyone to prove otherwise

They are all basically illegal too

I wouldn't go that far. That's a pretty all-encompassing statement. Matrixwatch advises people to do A LOT of research on any internet money making scheme. A good rule of thumb is that if it is too good to be true, then it isn't true probably!!

Finding a truly legitimate source of income on the internet isn't an easy task, as there are far more scmas out there than legitmate opportunities...

-Merc

[tgkrishna]

All HYIP's online are independent business people. No secure. If you trust them, you deposit money with them for profit. If they run away, you can do nothing.