Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: d:oug who wrote (36529)	7/5/1999 7:20:00 AM
From: Richard Mazzarella	Respond to of 116950

Another producer belly up: biz.yahoo.com

To: d:oug who wrote (36529)	7/5/1999 10:29:00 AM
From: Claude Cormier	Read Replies (2) \| Respond to of 116950

<<But what if this e-gold really turns out to be even better than best hopes and expectations of the inventors, and in about five years 10% of Earth's people have 50% of spendable wealth in this e-gold as gold and silver.>> Of course, this is a possibility. And this is what the owner are hoping for. Buy building the best e-commerce payment system, it would make it desirable for all netcrusers to have some of their reserve in e-gold. One of my client in Asia paid me with e-gold. So you bet I believe it is possible. At the moment the average account has 5-6 ounces of gold + some silver, platinum and palladium. The company plan is for 2.5M accounts in 5 years (and that is conservative given the growth on Internet). I think your numbers are way to optimistic... I'll be happy with 5% of the Internauts opening an account with E-gold and moving $1500 in there for their play money. But if they are very successful, there could be as much E-gold accounts as there are Visa cards used on the net. << would it affect the prices for these commodities ? >> You bet. the conservative figure of 2.5M accounts at 5 ounces each is more than 360 tons of gold. But I can see this thing growing much faster. << would it make gold and silver defacto paper money standards ?>> You mean a standard for paper money... don't think so. Eventually, there will be no more paper money. We will end up with digital money alone I guess. There will be governement digicurrencies and private digicurrencies (E-gold is not alone, there is at least one competitor that I know). << would it be private citizens taken control of money away from governments ? >> I don't think that governements will let this happen. But it could be a dual system. This is speculation.