How does E-Gold work?

I have been trying to understand how e-gold works, but i just cannot figure it out. Can someone please explain it to me.

- Prilep

 

Egold is a ecurrency that you can fund using a third part exchanger like Icegold.com,you pay them X amount of $ and they give you X amount of gold,When you keep money in your egold account few days you will see that amount will change from time to time because of the price of gold.
You can't changeback payments made with egold if you made a mistake or got scammed they don't care,they have a very very bad customer service and for sure they are scammer's first choice,also they random block accounts for no reason sometimes.

This is what i know about egold,similar with e-gold is Liberty reserve,hope that helps

 

People like to use e-gold because there are no chargebacks.

 

E-gold is just like any other payment processor but the amount of money goes up or down depending on world gold prices.

 

So for example if i have 100 dollars in there or 100 egold it can go down? So that means i loose money? Confusing :s.

- Prilep

 

Never heard that price of gold to go down

 

Yes it does, besides, everything that goes up, has to come down!

 

So i loose money. Hmm i better not use it then lol its too confusing. Ill just stick with paypal.

- Prilep