E-Gold (www.e-gold.com) is now under attack by US Department of Justice READ HERE. The consequence is still not cleared but they (DOJ) alleged that E-Gold is being used to money laundering. Last time, Paypal also subjected to the same allegation. I personally think that this incident is chareographed by a banking institution and group. After all this time (about 10 years), only now US-Department of Justice are starting to move against E-Gold (Gold & Silver Reserve (G&SR), Inc.) 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. What bad can this action gives to user (account holder) of E-Gold. Maybe DOJ will freeze the account same like Stormpay last time. Hope that this matter will clear without E-Gold being stopped. Netprenuer worldwide are willing to support E-Gold services eventhough US-DOJ is trying to stop the services.
As I remember, e-gold has been raided by FBI last year or two for almost the same points - child ****, laundering, etc. But until now, I still using E-Gold next to PayPal.
This would be a good time for egold users to find an alternative form of accepting payment if at all possible. Anyone who gets burned by egold getting shut down, even if only temporarily, will only have themselves to blame if they didn't see the warnings signs and react to it. If they get through this and stay in business and operate normally they can switch back but you shouldn't risk using them right ow if you have other options available to you.
Funny how when the feds touch somthing it turns to shit... Go figure So when are they going after the bushster? lol
Yup... E-Gold is much better against Paypal or other. It's because it use a closed system that you can get e-gold only by getting it transfered to your account or via exchanger. I personally don't see a problems with e-gold except that Paypal is envy with e-gold success.
Envious? Paypal is the industry leader by a mile and they are envious? Not even close.... Plus Paypal didn't bring those charges against e-gold. The US government did. And they don't bring charges like that unless there is very good evidence for it.
Then your funds will be frozen and god may know when you see them. E-Gold have processed for child .... and alot of other forbidden websites for a long time without doing anything against it. So it is good that someone takes it up now at do something.
You will loose you money. But wait. It's still under investigation. No need to panic. Please check their websites regularly. No offence to others, when I said Paypal is envy to e-gold success, it's my personal comment. Everyone can argue about it.
If you've got money sitting in there get it out. Your gambling if you leave it in there and the odds are not in your favor.
I am not surprised. E-Gold is the favorite payment method for scammers and fraudsters. They know that any stolen money sent to an E-gold account can not be recovered.
I have used e-gold for two years, its a good website people can trust. FBI raided it once before, nothing happened back then. The only problem with egold is funding it.. not easy.
I'm not worried about what will happen to my funds (I only had $1.42 and I took that out today), but I'm wondering what will happen to the entire GPT universe if egold gets shut down, even if only temporarily...
I was burned quite badly last year when the whole Stormpay thing happened and e-gold helped me save some of the money I thought I was going to lose. However, I have decided that the whole GPT industry is a scary business and don't use e-gold anymore for that reason. They were able to come out of last years FBI storm, but once your trust is in question, especially where money is concerned, it is not a good thing. I've been using Paypal without problem this past year, but nothing I use it for is related to the GPT industry.
E-Gold under attack? Interesting read, even though my account with them has been abandoned right after I got tired trying to figure out what's gold and what's real money. Will watch this thread to see what will happen.
E-Gold Operator has made this comment on their website. Please check it now. http://www.e-gold.com/letter3.html
That was on April 30. http://www.digitalmoneyworld.com/ has some nice articles and updates about e-gold.