anybody using e-gold?

[petrosc]

Hi,
I just walked into a situation where I have to make a payment using e-gold.
I've never seen a more disconvenient way to make payments. You cannot fund the e-gold account, you must use a third party exchange office to buy e-currency which will be deposited to your e-gold account. Most of them don't accept credit cards, mostly is wire transfer and direct deposit.
What's the deal with E-Gold? I don't see any reason for someone to use e-gold to make payments online. Maybe I'm mistaken, does anybody know why would someone use e-gold?

Petros

 

[VioxxLawyers]

Because its a good way to launder money online. You fund an anonymous debit card with e-gold. No questions asked, no paper. People also use it to setup massive pyramid schemes ("ponzis") or other smaller scams like selling pirated software for example.

The FBI visited e-gold ltd. offices in Florida last year.

 

[dnsurf]

e-gold (and some other electronic payment systems - moneybookers, webmoney) may be the only way for somebody to sell/buy something on the internet if he lives in the country there PayPal is not working, or even he may not have bank account or credit card yet, etc... There may be plenty of reasons for one...

 

[petrosc]

i love in a coutry where I cannot use paypal. I use moneybookers for example, its very convenient but i am talking specifically about e-gold. So much trouble to fund the account and so little places to spend it at

 

[VioxxLawyers]

Also, i forgot a point. E-gold doesnt allow chargebacks, if you lose your money, its gone. Accounts are frequently hijacked and emptied within minutes.

 

[Finexe]

Actually, the best thing about egold is the irreversable transactions and thats why people use it. If you get paid with paypal, and sell e.g. a domain online, the buyer can chargeback his credit card, and paypal will reverse the transaction and he takes your domain and says bye bye.

read more about shortcomings of paypal at paypalsucks.com. and read the egold community's mailing list at: http://blog.gmane.org/gmane.comp.finance.e-gold.user/