Egold falling down?

[gladiator]

Do you still use Egold ? It is in hot water at the moment as it is indicted for money laundering. The feedback is business with egold payment option is making a killing as customers are unloading their egold funds.

[G11-Tech]

But what would happen to the businesses that are receiving the e-gold? I'd put it straight into my bank account - there's nothing really stopping them from shutting down and freezing all funds, is there?

[gladiator]

There are also egold exchangers which are making huge profits. They exchange your egold funds for a high service fee. You can't put your egold funds directly to your bank . This is where egold exchangers come in. There is still a due process that will justify actions like freezing of funds.

[Xenigo123]

E-Gold has long been used by offshore sportsbooks and casinos, child porngraphy sites, and outright scammers. Even if you take a hit with the exchange rate I would get your money out of there as quickly as you can before you lose it forever.

[AffiliateSeeking]

I don't see much point of E-gold. I don't know if it is just me or what, but I have never really taken much interest in it. I only have some gold in there which I have had for a while once I had got paid from a small ppc search engine about 3 or more years ago. I have never cashed it out. I'm just wondering why they didn't just be like paypal or moneybookers where they just use dollars and not gold or silver.

[Xenigo123]

Originally Posted by AffiliateSeeking

I don't see much point of E-gold. I don't know if it is just me or what, but I have never really taken much interest in it. I only have some gold in there which I have had for a while once I had got paid from a small ppc search engine about 3 or more years ago. I have never cashed it out. I'm just wondering why they didn't just be like paypal or moneybookers where they just use dollars and not gold or silver.

I believe they had some contrived idea at one point that they could legally process online gaming transactions if they first converted the currency to gold, thereby creating a middleman of sorts. it's the same theory Neteller used to use, that the gaming transaction would be legal if the money was first sent to a payment clearinghouse before it was transfered to the sportsbook/casino. The US government doesn't seem to care anymore what is legally right or wrong and is slamming all of the payment processors.

[chum112]

Paypal is taking over and by that i mean big time. Egold users have constantly declined over the past 2 years. In that time paypal has seen a continued abundance of new users.