As far as I can see, it is only used for: - investment in gold - investing in HYIPs Oh, and I know a site that sells drugs that accepts Pecunix! But is there any other reason to use these currencies? I would love to find an affiliate program that pays out in electronic gold. Are there any? I have searched but found none. Some casinos pay in moneybookers, but that is not gold.
There really is no point to these digital currencies like E-Gold & Liberty Reserve In reality the numbers you see in your accounts have absolutely zero monetary value and have no reliability
Zero monetary value? You're wrong there. This money is backed by real gold reserves. Reputation is everything. Not unlike real banks. Short of holding physical gold in your hand, this is the same everywhere. I would trust Pecunix over the likes of e-gold.
Rolf is right. Money is backed by real gold reserve. Problem with e-gold now is that you can't get it out without paying 40 to 50% exchange fee. They are having some legal issues, which they say will be resolved shortly, but in the mean time, my e-gold is basically worthless. I have had the account for several years, am a US citizen, verified address and bank account, funded my e-gold account via OmniPay at the time, and now my spends and receipts are blocked. So, I have a bit of money in there that they are charging me monthly storage fee for, but I can't use it. I called them, and got OmniPay, who says e-gold doesn't have a phone number. The number listed on their site will take you to OmniPay. They say I have to send an affadavit of ownership, copy of passport, copy of driver's license, and all notarized. (Even though I went through the verification process when 1st purchasing from OmniPay) No, problem, I will, but in the mean time I can't use my e-gold. And it is still up to them to unblock my account. When I get cashed out (if), no more e-gold for me.