E-Gold Implications

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soulvagabond

soulvagabond

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Mar 28, 2007
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Is anyone here using e-gold?
I've got a request from a client to pay me via e-gold. I'm not using it and dunno anything about it. Should I consider signing up and accepting a single (under $100) payment for that purpose, hoping that it will be useful for more clients in future? And how scam friendly e-gold is?!
Thanks for taking your time!
 


E-gold isn't that much of a hassle. I use it all the time and prefer it to anything else. Once you've received payment, then you've got it for real, no one can take it away from you (unless they hack your account). Once you have the funds, you can simply use an e-gold exchange service like IceGold - first e-currency exchange in Europe You pay them e-gold, and they will wire the funds to your bank. Go to e-gold.com, sign up for an account (the personal info doesnt even have to be real) and once you've got the gold, use icegold or any other exchange service listed on the e-gold page (e-gold Directory) to take it out.

If your a buyer, go with paypal. If your a seller, go with e-gold.
 
Mind you, bank wires normally cost $20-$40, and its the only way you should exchange your e-gold (dont use paypal otherwise you will get scammed). So if your getting payment of less than $100, then be aware of this, otherwise save up your e-gold and take it out once its reached $1k+
 
Thanks Demon!
So it is actually perfect for rebating, hence you can simply tell your client to pay less. As far as I understand they can't charge back?! Is that correct?!
;)
 
Once someone pays you with e-gold, the transaction is sealed for good. It doesnt matter what the payment was for, and if it was authorised or not, e-gold has never and will never reverse or meddle with transactions between accounts. Good news for you, not so much good news for the buyer.
 
I believe eGold has been indicted by the Feds back in April ... Some links below:

#07-301: 04-27-07 Digital Currency Business E-Gold Indicted for Money Laundering and Illegal Money Transmitting

And then later on ...

Defendant’s Status Report and Notice of Compliance with this Court’s Seizure Warrants & Post-Indictment Restraining Order

Note: This is a pdf file ...

http://vertoro.com/images/00282723.pdf

I bet even some of their bigger clients are bailing. I haven't seen any updated news lately.

While I don't deal with them anyway, I, personally, wouldn't want to to take a chance and use them these days til this gets settled and I'm sure that won't happen for awhile. Is it worth the chance? Not for me anyway ...


Rick :cool2:
 
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