E-gold

Seriously

Why do none of the major gambling sites use E-gold for payments??? Its just perfect and I can not see how legislators could stop it. A lot of Ponzi gambling and hype investment are already using it.

Anyone knows?

http://www.e-gold.com/

[BluffTHIS!]

Not a legislation question and belongs in internet gambling forum (the zoo).

[BradleyT]

The only problem I can see is that they'd need to increase their current stock of gold (valued at ~$71,917,147) by a factor of at least 10. Online poker is a billion dollar industry - and that's just the rape err rake that the sites take off us. How much gets deposited - $10B or more per year?

[Leader]

Yeah but there's silver, platinum, and other metals too I think. Plus there are a bunch of sits like this and they'd a transit points. It's not as if all the money in the poker economy is going to be stored in gold.

[greg nice]

looks like a good idea. maybe email the sites and suggest it

[Thanir]

I wouldnt be a fan of this as if you keep any money in the egold account, the value of it will fluctuate according to whats going on with the gold market. Also it seems as egold accounts were more susceptible to break ins from outside sources (this could be due to the fact that these accounts are used for hyips/pozis). Also most of the 'egold' industry is somewhat shady, and I think most people wouldn't want to move huge amounts that way.

I would rather wait for the industry to find another solution.

[PLOlover]

Maybe the wave of the future is to play poker in ounces of gold.

microstakes would then be 1/1000 ounce of gold blinds lol.

[TXaces]

I have some of that virtual gold fever, too. But the founder lives in Florida, USA.

The company has been investigated before for being an accessory to various money laundering schemes. They cooperated fully with authorities. As far as I know, there was zero evidence of any crime.

If the justice dept. comes knocking on their door -- as it just did for the Neteller guys -- would E-gold not cooperate? I think it will.

It's more of a play on rising metals prices than a discreet funding option.

[mjkidd]

[ QUOTE ]
I wouldnt be a fan of this as if you keep any money in the egold account, the value of it will fluctuate according to whats going on with the gold market. Also it seems as egold accounts were more susceptible to break ins from outside sources (this could be due to the fact that these accounts are used for hyips/pozis). Also most of the 'egold' industry is somewhat shady, and I think most people wouldn't want to move huge amounts that way.

I would rather wait for the industry to find another solution.

[/ QUOTE ]

The gold would only be transient. You would buy the gold and sell it to the poker site for dollars. Sell the dollars for gold, then the gold for dollars to your bank account.

[PLOlover]

Actually this looks pretty awesome. I have one question though. To fund your account you give them US dollars and now you have an account denominated in gold or silver or plat,etc.

Can you do the reverse, sell your gold back to them and have them give you US dollars?