What the heck happened to e-gold?
By amaine
@amaine (2027)
Philippines
October 17, 2009 12:29am CST
Many many years ago, e-gold seems to be a growing site and most of the PTCs prefer paying through e-gold. I don't know what happened but it seems that e-gold diminished in thin air aleady.
Do you have any idea what happened to e-gold, and is it still safe to accept payments from e-gold? Coz I have seen a site that looks legit but seems like they are only paying through check or e-gold..
4 responses
@temumangga (7)
• Indonesia
17 Oct 09
Maybe because its popularity decreasing and lost to paypal or alertpay
1 person likes this
@imascofflaw (1)
• United States
17 Oct 09
Because it threatened to put the world economies back on the Gold standard. The US and the world banks stood to loose a fortune in cross border fees (wire fees, currency conversion, etc,) it had to be shut down. So the us fabricated a bunch of charges and squashed Dr Jackson like a bug, froze all his assets and bankrupted him with legal fees. Dr Jackson still has not recovered.
It is an excellent example of what the Govt can do to you if they don't like you even if you are perfectly legal.
Similar tactics are being used by Obama against the Health Care Insurance industry - Disagree with me and I'll pull your exemptions Congress gave you in 1945. What's next - disagree with me and you'll find yourself the subject of a "lifestyle audit" by the IRS.
1 person likes this
@ronaldinu (12422)
• Malta
14 Feb 10
I would not trade my money for egold right now. Its not a wise decision. Egold has their assets frozen. So any transaction is impossible.
@amprad (52)
• India
31 Oct 09
seems like e-gold had a problem with money laundering and money transmitting, the founder Dr. Douglas A Jackson was house arrested for a couple of months. Since then e-gold activities are sort of down. A report on that issue can be found here: http://web-scrapbook.blogspot.com/2009/10/digital-currency-business-e-gold-was.html
@vbchica14 (63)
• United States
10 Jan 10
I just started a myLot discussion asking about getting ones e-gold account number because I lost mine years ago, then I looked at e-gold's wiki to find that they were sued in 2008 for money laundering and other charges. As a result of the settlement, the site was frozen in November 2009. Don't know if anything will ever happen, but I have a feeling that whatever money I had sitting in my e-gold account is now worth nothing. I don't remember how much it was, so that makes me feel ok thinking it probably wans't too much, still sucks I guess. I always preferred paypal though.
