What’s the future of gold currencies?
July 14, 2008 by moneypenny
Filed under Finance
In the light of recent developments in the digital gold market, with companies like e gold being indicted and the US government taking a hardline against some of them because of moneylaundering and unregulated illegal practices going unchecked, what do you think the future of these alternative currencies or digital currencies are ?
Can the US govt and others force them out of business as some believe?
We value your opinion here on www.digitalmoneyworld.com and both Mark and Benson have written here on digital gold extensively in the past.
DGC Magazine Blog
http://www.dgcmagazine.com/blog/index.php
- Author: Mark Herpel
- Listed in: Finance Innovation
- Tags: gold e-gold e-bullion pecunix e-currency digital gold currency
So what do you think about this issue? Please let us know.
Comment below
Moneypenny
I think, it is impossible to forbid totally the exist ency of gold currencies.
There are many ways for money laundring, not only via digital gold but also from casinos and many other payment system.
No matter what, as long as internet is here to be used by all people around the world, there will be some sort of ways for “money laundring”.
short of total prohibition and worldwide enforcement… it is impossible to end DGCs, they are here to stay. However, without legal status, they might never become mainstream everyday life offline.
But just think of how easy it is to set up an online accounting system… and how much sense it makes to back it with a widely traded commodity… even more with a metal.
As to money laundering, don’t be naive. It’s just an excuse to attack competition to national monopoly.
99.9% of money laundering around the world is done through the regulated banking system or with govt. approved cash.