what is e-gold?

e-gold is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. e-gold Ltd. is incorporated in Nevis, Lesser Antilles.

its a online payment processor by which u can receive any amount from online and then u can transfer to ur bank account anywhere in the world..

Its an electronic trade of gold despite of physical gold.

there are some nice explanations here, you could also search some of my discussions here on e-gold, the payment processor.

I think e-gold.com explain all waht U want to know ^^ http://e-gold.com/unsecure/qanda.html e-gold is... e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage. Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold. e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to Spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put. http://www.e-gold.com/unsecure/aboutus.html Corporate History e-gold Ltd. Is a Nevis, West Indies company created to serve as the General Contractor responsible for performance of the e-gold Account User Agreement. e-gold under its charter is completely dissociated from the business risks relating to exchange. This clarity of roles further assures e gold's freedom from default risk and finality of settlement. e-gold was developed and deployed as an Internet payment system by Gold & Silver Reserve (G&SR), Inc., a Delaware Corporation in 1996. The e-gold roles of Issuance and Settlement were devolved to e-gold, Ltd. in January 2000. G&SR, Inc continues to serve as the operator of the e-gold payment system. G&SR, Inc. also offers its own innovative set of hybrid currency exchange services, known as OmniPay. return to top

e-gold e-gold is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. e-gold Ltd. is incorporated in Nevis, Lesser Antilles. According to the company's website, as of September 2006, e-gold had 111,779 oz (3,465,149 grams) of gold and 138,567 oz (4,295,577 grams) of silver in storage, which is worth approximately US$86 million . There are typically 66,000 e-gold spends each day totalling 15,000 oz (460 kilograms), which is about US$10.5 million. There are over three million e-gold accounts of which about one quarter are active... History e-gold was founded in 1996 by Dr. Douglas Jackson and Barry K. Downey[3]. Transactions using e-gold have grown dramatically since 2005. The total amount of gold bars (over three tonnes) in the e-gold system is approaching the size of the national reserves of smaller countries. e-gold now generates a substantial income from spend and storage fees — it costs a few cents to make each e-gold "spend" and e-gold itself now earns well over a million USD per year from fees. The number of e-gold accounts (as claimed by e-gold) grew from 1 million in November 2003 to 3 million on 22 April 2006. That represents a compound growth rate of approximately 55% per annum. This high growth rate has been sustained by e-gold almost since inception.... Role in global commerce Many small businesses in the U.S., Europe and Asia, each with full-time staff now operate as "digital currency exchangers," doing nothing other than buying and selling digital gold currency for "fiat currencies," as gold bugs term the euro, pound, yen and U.S. dollar. e-gold transactions — a "spend" — are completed electronically, usually using the web interface, and they always settle by weight of the metal even if denominated in some other way. A user may send (or "spend") a tiny amount of gold (a fraction of a gram, ounce or kilogram) to another user account instantly, anywhere in the world. Even though e-gold is careful to not advocate any particular political agenda, as the Liberty Dollar does for example, e-gold could be viewed as a libertarian form of private currency..

I never could grasp the concept of e-gold either but it seems to be in high demand I'll stick w/ ppal I'm giving +'s Have a fabulous day :)