[e-gold-list] Re: e-gold - the safest place to keep your money

[Ian Green]

On 12/19/06, Tom Nicholson <tom at webmoney.co.nz> wrote:
> A nice idea in theory but e-gold have implemented a script to automatically
> block any account that receives *blocked* money instantly. This seems like a
> strange alternative to simply not allowing blocked accounts to make
> transfers, it has what is unlikely to be a coincidental effect of roping a
> whole lot of other people into the mess.

Aside from the obvious injustice of your situation. This raises
another scary possibility. Remember that some people do "advertising"
by making gold-dust microspends to random or guessed account numbers.
Also, people may spend to an exchange provider, (whether a
professional agio or just someone who might do a favour for someone),
without first having any relationship or arrangement with the
recipient or intermediary. So, if this script idea is anything to go
by, anyone with a blocked account could block ANY other account by
spending ANY amount of money to them! This could just be random
vandalism, or targetted spite.

Imagine the disruption if one of these accounts spent to any of 1MDC's
accounts, containing a sizeable amount of e-gold, that then was needed
to be spent to any other of 1MDC's accounts! Imagine if they spent to
every exchange provider, except for OmniPay!

If people cannot spend or keep or remove their own gold from the
system (via an exchange provider) without the risk that another
unrelated transaction could lock the exhange providers, or their own
e-gold account, then there is a serious risk of a sudden and
overwhelming collapse of the entire digital gold economy! (This is a
risk to EVERY DGC business and shareholder.) {Reading ahead in this
thread, and judging by the respectable people also concerned about
this, I would have to say that the rapid loss of confidence has
already begun - and rapidly increased with the blocking of the Iranian
accounts - and I wonder whether the US government shareholding of
e-gold, combined with agency conspiracy means that the US government
is forcing e-gold to self-destruct - and repossessing the entire
quantity of gold for the US government in the process?!}

Does e-gold allow such a received payment to be repudiated by an
exchange provider recipient, as, I suppose is done by Omnipay, in a
timely manner such that their exchange business is not interrupted?

This is a worrying scenario, and deserves an explanation from someone
at e-gold, or the details as published in this mailing list need to be
refuted.


Regards,

Ian Green
https://secure.pvcse.com/ex.change...000053
http://open2exchange.com/buy.sell...000024
https://www.1mdc.com/cgi-bin/paymail.cgi?107242ipgEUR
https://pri.pecunix.com/money.refined?payment=ian.green@ao.com.au
http://107242.e-gold.com/

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