[e-gold-list] Re: Kelly does it again!!

[The Phoenix Dollar]

Hello AnyGoldNow,

Saturday, January 6, 2007, 7:44:11 AM, you wrote:

> Gordon,

> huh?

> If it wasn't for "interfacing the new with the old",
> and "hook up to fiat land", as you say:

> a) There would be no e-gold (and/or other DGCs)
> (as nobody could buy / pay for the gold/silver)

> b) Anybody having e-gold (and/or other DGCs)
> in their account(s) could not use their respective
> values for any real life use...

> Therefore, unless there were / will be Exchangers,
> and Debit card processors around, to "interface the
> new with the old", and "hook up to fiat land", there
> would / will be no "gold ship".

I understand you have to sell it for something, but that's not what I
meant. While the exchangers role is clear there are inherent problems
with how and where they interface and who they interface with. The
results of either poor judgement, outside risks or just plain bad luck
are doing much harm to the ship we are speaking of.

If companies keep encountering these problems, the industry will be
sliced into smaller fragments. I think that is already happening to
some degree. how much business has exchangers lost in the last year?

How much customer money have exchangers inadvertently lost through
their choices about who they partner with in 2006? This now of course could be
asked of debit card providers.

See I never knew that all DGC card issuers used the same card company. If I
had known that I would have considered that to be a huge systemic risk
and would have never even bothered with BGC.

If we have learned anything it is spread out far and wide so any
attack only affects a small part and not the whole.

What all this tells me is to look out for broad movement toward one
system. EmoCorp comes to mind here as a great example. A bunch of
exchangers where migrating to them at the time of their raid. They
became a broad risk and many people lost millions, its very likely
they were the cause of the raid in the first place, even though you
will probably disagree with that thought.

That is a net loss to the ship you speak of. I have taught myself a
lesson today.

-- 
Best regards,

Gordon


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