Logic Behind e-gold?

Discussion in 'Payment Processing' started by johnwoof, Jan 14, 2007.

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  1. #1
    Hi

    What is the logic of e-gold

    is i m buying gold ?

    if i buy gold now of $1 then if Gold prices go up then i get $1.20 ?

    is it correct

    How the egold work ?

    Thanks
     
    johnwoof, Jan 14, 2007 IP
  2. Roman

    Roman Buffalo Tamer™

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    #2
    When you have an egold account your balance is in gold not dollars. The dollars are displayed to reflect the value of your gold at current prices. If gold goes up or down, so will your dollars, but not the quantity of egold you have.

    So yes, if you get $1.00 of egold and gold goes up 20% you'd have $1.20
     
    Roman, Jan 14, 2007 IP
  3. 1-3-3-7

    1-3-3-7 Well-Known Member

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    #3
    But be careful as the value of gold can go down as well (even by error). One time it dropped to 50% by accident, and it affected everyones accounts real time. It's also used to invest in HYIPs, AutoSurfs, and e-gold games. All 3 which are risky, but can make you some profits. However, there are better and more stable ways to make $ so don't waste too much cash on those things.
     
    1-3-3-7, Jan 14, 2007 IP
  4. johnwoof

    johnwoof Peon

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    #4
    humm Its Like MCX Trading where i buy gold in 1% & earned when it up or Down

    is it correct

    so e-gold company buy the gold with the $$$ of user .

    thanks
     
    johnwoof, Jan 14, 2007 IP
  5. sufi

    sufi Well-Known Member

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    #5
    sufi, Jan 14, 2007 IP