Forex Metal Promotion

Halo Forex Trader,

Apakah Anda ingin memulai trading dengan harga kurs yang rendah?
Kami siap mendukung Anda.
Mulai dari $500, dan Anda hanya kami kenakan Rp.11.000/$.
(Kurs rata-rata bank saat ini di kisaran Rp.11.750/$)
Jika berminat, silahkan kirimkan email ke:
cssupport@goldmediator (dot) com dengan subject FM Promo.
atau Yahoo Messenger di: fxress

Penawaran ini terbatas untuk maximal 10 orang saja.
Dan ditutup setelah kami mendapatkan 10 orang untuk trading di
forex-metal.com

Kami tunggu,

Salam,
Management Goldmediator

Update Harga dan stok

Goldmediator menginformasikan perubahan harga transaksi jual beli dan tukar webmoney, commerce gold, pecunix, liberty reserve, gift certificate dan forex metal, menjadi sebagai berikut:

Harga Beli:
* Webmoney (WMZ) (10550)
* C-gold (10525)
* Liberty Reserve (10500)
* Pecunix (10475)
* Gift Certificate (10450)
* Forex Metal (10425)

Harga Jual:
* Webmoney (WMZ) (9550)
* Cgold (9525)
* Liberty Reserve (9500)
* Pecunix (9475)
* Gift Certificate (9450)
* Forex Metal (9425)


Kurs Tukar ecurrency:
* Cgold 4%
* Liberty Reserve 4%
* Pecunix 4%
* Gift Certificate 5%
* Forex Metal 5%


Spesial Promo:
Beli Liberty Reserve $100 dan kelipatannya akan mendapatkan bonus 1%.

Stok:
* Webmoney (wmz) ($2000)
* Cgold ($70)
* Liberty Reserve ($8000)
* Pecunix ($250)
* Gift Certificate ($3000)
* Forex Metal ($5000)


Efektif tgl 15/10/08 dan sewaktu-waktu dapat berubah tanpa pemberitahuan terlebih dahulu.

Saat ini goldmediator berhenti bertransaksi e-gold. Harap maklum dan terima kasih.

Silakan melakukan transaksi jual.
disini untuk melakukan transaksi beli
dan disini untuk melakukan transaksi tukar
Terima kasih.
Selamat berbelanja di Goldmediator.

Management Goldmediator

website: Goldmediator

Liburan Lebaran 2008

Selamat Hari Lebaran Idul Fitri 1 Syawal 1429 H.
Mohon Maaf Lahir & Batin.

Goldmediator.com akan berlibur mulai tanggal Selasa, 30/09/2008 sampai dengan hari Minggu 5/10/2008. Buka kembali secara normal tanggal 6/10/2008.

Selama liburan, proses jual, beli dan tukar ecurrency akan dilayani dalam waktu 3 sampai 12 jam. Harap maklum. :)

Bagi yang mudik, hati-hati di jalan. Beristirahatlah setiap 2 jam.
Ingat, keluarga dan kerabat Anda menanti dan berdoa untuk keselamatan Anda.

Salam,
Goldmediator.com

Solusi keamanan penyampaian Gift Certificate

Pelanggan Goldmediator yang berbahagia,

Demi keamanan melakukan transaksi jual beli gift certificate,
maka hendaknya kita mengirimkan gift certificate dengan format
sebagai berikut:

Format lama:
#WWWDDDDD#HHHHHHHHHHHHHHHHH#
dimana WWW adalah jenis mata uang (dollar atau poundsterling), DDDD adalah jumlah dan HHHHH adalah bagian keamanan.

Maka untuk keamanan bersama, gift certificate akan dikirimkan dengan format:
#HHHHHHHHHHHHHHHHH# saja, dimana Anda sendirilah yang nantinya menambahkan didepannya untuk #WWWDDDDD. Dengan demikian, akan lebih sulit seseorang yang tidak berhak untuk bisa mencairkan gift certificate tersebut.

Selain daripada itu, sebaiknya membeli gift certificate dengan pecahan sen, misalnya:
$160.48
$100.23
$84.79
$50.15
dan sebagainya.

Contoh beli $144.27 maka gift certicate yang muncul adalah seperti ini:
#USD144.27#DU934LS9234DKE32#
dan akan dikirimka ke konsumen dalam bentuk: #DU934LS9234DKE32#

Semoga penjelasan ini cukup membantu.

Salam Sukses,

Management Goldmediator

Update Harga dan Stok

Goldmediator menginformasikan perubahan harga transaksi jual beli dan tukar webmoney, commerce gold, pecunix, liberty reserve, gift certificate dan forex metal, menjadi sebagai berikut:

Harga Beli:
* Webmoney (WMZ) (9700)
* Cgold (9650)
* Liberty Reserve (9650)
* Pecunix (9600)
* Gift Certificate (9700)
* Forex Metal (9500)

Harga Jual:
* Webmoney (WMZ) (9100)
* Cgold (9100)
* Liberty Reserve (9100)
* Pecunix (8900)
* Gift Certificate (9200)
* Forex Metal (9100)


Kurs Tukar ecurrency:
* Cgold 3%
* Liberty Reserve 3%
* Pecunix 3%


Spesial Promo:
Beli Liberty Reserve $100 dan kelipatannya akan mendapatkan bonus 1%.

Stok:
* Webmoney (wmz) ($2000)
* Cgold ($70)
* Liberty Reserve ($8000)
* Pecunix ($250)


Efektif tgl 4/09/08 dan sewaktu-waktu dapat berubah tanpa pemberitahuan terlebih dahulu.

Saat ini goldmediator berhenti bertransaksi e-gold. Harap maklum dan terima kasih.

Silakan melakukan transaksi jual.
disini untuk melakukan transaksi beli
dan disini untuk melakukan transaksi tukar
Terima kasih.
Selamat berbelanja di Goldmediator.

Management Goldmediator

website: Goldmediator

Gift Certificate dan Forex Metal

Kabar Gembira untuk semua pelanggan Goldmediator.
Mulai hari ini, kami menyediakan Gift Certificate (GC) yang dapat digunakan untuk trading/spekulasi di betonmarket dan pasarvalas.
Saat ini harga GC adalah sebagai berikut:
Konsumen BELI di 9700/$
Konsumen JUAL di 9200/$

dan juga Goldmediator telah menjadi payment agent dari Forex Metal. Forex Metal (FM) adalah sebuah forex trading broker yang bisa diandalkan.
Saat ini harga FM adalah sebagai berikut:
Konsumen BELI di 9500/$
Konsumen JUAL di 9100/$
Selamat berbelanja di Goldmediator dan beritahukan kepada rekan-rekan Anda.

Salam sukses selalu.

Management Goldmediator

Easy newbies’ guidelines for less risk and more profit

Would you like to set up a hyip portfolio, but you are not sure where to begin. To begin playing on hyip is not as hard as you might think. With the internet, researching strategies to save money is fairly easy and newbie playing is no different. There are number of hyip related community websites available freely online, just waiting to inform you on your next best hyip move.

Playing on hyip could be important for you to earn extra money with less initial capital to start up in order to safeguard your financial future. You will need to have extra income to support your daily life especially in today’s economy where purchasing power of the US dollar is decreasing and inflation increasing. Hyip playing can also be fun and exciting if you know what you are doing. But whether you find hyip playing interesting or not, there is something for everybody. If you are a risk taker or a trend watcher, one of the best way to make money via online for you is high risk program like the hyip world that will excite you.

If you are just starting out, you will want to follow some easy steps. Hyip playing can be quite complicated depending on what you are playing in:

1. Set a budget plan and do not go beyond it. This is pretty much like everything else in life. It is best if you start small until you get your feet wet.

2. Start out with a single kind of hyip plan such as test spend plan until you become familiar with how that hyip medium works and then widen your horizons and begin to expand your hyip portfolio.

3. Find out what the experienced are doing. There are various publications available online for free like eCommerce-Journal with vast amount of information on building a hyip portfolio.

4. Get started. Many players put off starting something that is strange to them. You will remain as a beginner until you get some experience and skill and you cannot do that until you get started.

Hyip playing is a great opportunity and it can make you a lot of money, but if you do not know what you are doing you could be at great risk of losing your money because bad hyip plays are common even among those who call themselves experienced. So how can anyone make money with hyip playing? You have basically two ways of successfully approaching the hyip playing opportunity:

1. Get your hands on a good and dedicate a reasonable amount of time learning on how to correctly execute winning hyip plays. This approach is definitely a desirable one, because knowledge is always the most precious asset you can have, but the thing is that this road will
take some time to deliver results, due to the fact that you need to put your newly acquired hyip play abilities to the test and then dedicate considerable time during the day or night to catch the best hyip play opportunities.

2. Get yourself a recognized, honest and reputable hyip bulletin or hyip portal like eCommerce-Journal with the ability to provide you with information on time for you to get in and get out the hyip at the precise moment. This approach will likely put you on many profitable hyip plays if you be attentive at the news, updates as well as alerts so that you can get in and get out the hyip at the right moment. If you pick a reliable hyip portal or hyip bulletin or even hyip blog, your hyip plays will make you money right from the start, because in this scenario you will not have to become an experienced hyip player to make profitable games.

This is the best suited option for a newbie, because it will make a very respectable profit out of our money, and it will keep you away from loss 90% of the time. This will allow you to get in the hyip on solid profits, giving you time to gradually master all the basics of hyip playing so you can enhance your overall performance everyday. The best thing about this option is that you do nothing, but merely monitor the news, updates and alerts every now and then so that you can
actually make money on hyip.

Hyip playing can undoubtedly be a very profitable online money making opportunity that will not demand you work long hours nor it will demand you sell or market anything unlike other opportunities. But how much money you make your hyip plays will depend greatly on the ‘tools’
you choose to help you accomplish the best results.

Nowadays, learning to play hyip is important. Learning to play hyip is integral to your future outcome and there is no time like the present to get started. Start building for tomorrow, today. You are never too young to start playing on hyip and a person never gets too old to make changes to their hyip portfolio.

Good and bad in hyip playing

Hyip playing offers a route to financial freedom but there are advantages and disadvantages of playing and here you can look at them and decide if hyip playing is for you or not.

First, hyip playing is just that; it is an international game and today anyone can get involved all around the world and lock into the one of the online biggest money making opportunities.

It's not just the big guys and players who are joining hyips online all the time, seeking big profits. Here isa word of caution: 95% of players lose because, despite the advantages, they do not approach this type of online money making seriously.

Here are the main advantages first:

- Anyone can learn hyip playing, no college education required.

- You can start playing hyip as quickly as in about 1 minute and be making big profits in about 24 hours a day.

- You only other overhead is a computer, an online connection, and an electric bill.

- You can seek big profits everyday and there is never a recession.

Really, it is the perfect money making from home opportunity and while anyone can learn to win, there are certain disadvantages and here are a few:

- It is a challenge to be a player and you need to do it on your own.

Do not fall into the trap of following regular guaranteed lucrative income nonsense; it is a big boys and girls game and it relies on your knowledge and your mindset to maintain discipline, which will lead you to success.

- You must learn to play great defense first and make sure you understand how to cope with volatility. Picking the hyips is easy, trying to get in and out off the hyips with your playing plans and strategies at the best times is hard.

Make sure your hyip playing plans and strategies can cope with it, or you will join the 95% who lose. And here are five simple tips for gaining profits in hyip playing:

1. Learn it – The hyip world is accessible to anybody and it is almost too easy to play. Your grandmother could play as easily as you could, and experienced players play alongside total newbies. With a game as open and accessible as hyip, there are always players who try to make money without any real understanding of the basic principles that guide the move of the hyip cycles. And in the long run, these players always lose.

Before you do anything else, you need to learn about the methods of the hyip world, and how both long time frame, low rate of return and short time frame, high rate of return hyip plans affect your hyip playing plans and strategies. Sure, the hyip world is complicated but it also follows some very simple guidelines and curves. Playing without understanding these curves is as good as pushing your money down a garbage disposal.

2. Go slow and steady – While it is perfectly natural to begin playing slowly, you want to learn the ropes before you put your money at risk. A mistake many newbies make is speeding things up before they are really ready. It is an easy mistake to make after all, you want to start making real money and you want it now.

But it is important to resist the urge to do this. Your best bet is to start slow, and keep it slow. Take your games in baby steps. And when you decide it is time to up the amount of initial capital, do it slowly. Otherwise, you will probably find yourself losing, and may get discouraged enough to take yourself out of the game altogether.

3. Choose your hyip wisely – Find good hyips that cater to the type of playing you plan to do. Also, hyips will generally offer members test spend plans which allows you to make sample games and learn as you go. So, be sure to choose a hyip that offers a test spend plan.

Some scam hyips do not even make pay outs fora test spend plan. So, you will not lose too much if you make trial and error strategy first via test spend plan. Before deciding on one, do your research first. Check with friends and in hyip related community forums, hyip related portals and bulletins to get recommendations, and learn which hyip and what type of hyip plan will work best for you.

4. Understand hyip psychology – It is not just authority policies and unexpected events that affect the operation of hyips around the hyip world. It is how those things are perceived by players. Understanding how the psychology of playing, specifically, fear and greed, affect the hyip world as a whole is a key to playing successfully. It is also a key part of managing your own hyip portfolio. Examining how you react emotionally to a change in a hyip in which you have a stake is the best way to control those emotions. Learn to play with your mind instead of your feelings.

5. Be patient and manage losing positions – Sometimes, a game goes wrong. It happens often to every player, and a losing position is something you need to plan for. Learning to manage losing positions and cut your losses is an important part of being a successful player. As is learning from your mistakes, so you will not make the same ones again.

Hyip playing is tough, but you would expect that with the amount of money you can make. For the player who has a burning ambition to succeed and stand on their own and take responsibility, this is a great opportunity and if you approach it as a business and take your losses and run your profits, you can enjoy a great second income and enjoy your hyip playing success.

Update Stock dan Harga

Goldmediator menginformasikan perubahan harga transaksi jual beli dan tukar webmoney wmz, commerce gold, pecunix, liberty reserve, , menjadi sebagai berikut:

Harga Beli:
* Wmz (9700)
* Cgold (9450)
* Liberty Reserve (9550)
* Pecunix (9300)

Harga Jual:
* Wmz (9100)
* Cgold (9050)
* Liberty Reserve (9000)
* Pecunix (8700)

Kurs Tukar ecurrency:
* Cgold 3%
* Liberty Reserve 3%
* Pecunix 3%

Catatan: Tidak melayani penukaran dari wmz ke e-curreny yang lain dan sebaliknya.
Karena webmoney melarang kegiatan penukaran (exchange).

Spesial Promo:
Beli Liberty Reserve $100 dan kelipatannya akan mendapatkan bonus 1%.

Stok:
* Wmz ($4000)
* Cgold ($19000)
* Liberty Reserve ($20000)
* Pecunix ($300)

Efektif tgl 29/08/08 dan sewaktu-waktu dapat berubah tanpa pemberitahuan terlebih dahulu.

Silakan melakukan transaksi jual.
disini untuk melakukan transaksi beli
dan disini untuk melakukan transaksi tukar
Terima kasih.
Selamat berbelanja di Goldmediator.

Management Goldmediator

website: Goldmediator

Selamat Menunaikan Ibadat Puasa

Goldmediator mengucapkan:

SELAMAT MENUNAIKAN IBADAT PUASA kepada seluruh pelanggan Goldmediator yang menjalankannya. Semoga selalu diberikan kekuatan.

Salam,

Management Goldmediator

Estonia regulates its gambling industry

Estonia, located in Eastern Europe, has legalized the gambling industry. Article 2 of Estonia’s Law on Gambling authorizes only the state to offer gambling services in Estonia, though the state can delegate this right by issuing licenses. Currently, there are 72 gambling facilities, strictly consisting of casinos, which are distributed among Estonia’s 12 cities. Gambling and lottery matters are under the regulatory jurisdiction of Estonian Federal law. For the time being, interactive gambling is not legally regulated in Estonia and no licenses are granted for this industry.

Estonia’s Federal Law on Gambling, State Gazette I, 95, 58, 1005, is one of the regulatory gambling laws in Estonia. It defines games of chance, games of skill, totalizators (electronic machines showing racetrack results) and betting services. It also prohibits advertisement of gambling games except in locations where gambling has been authorized.

Estonia’s legal gambling options also include online wagering. Sport betting on the Internet, for example, is very popular. Casinos gambling in Estonia provide an additional sports betting feature to attract players. Casinos have even developed a way to identify each player, and to ascertain that the player is at least 21 years of age; otherwise, the gaming account may be seized by the state.

What are the types of lotteries recognized in Estonia and who can operate those lotteries?
Section 21 of Estonia’s Law on Lottery, State Gazette I 1994, 50, 845, categorizes lotteries into three types -- classical lottery, instant lottery and numerical lottery. Classical lottery is a lottery using lottery tickets with unique codes; the winner is determined after raffling the winning codes. In an instant lottery the winner is determined immediately upon opening the game field of the lottery ticket. In numerical lottery, players are allowed to put stakes on a combination of numbers, and the winner is determined after raffling the winning figures.

Section 2, sub-section 2 of the Estonian Law on Lottery (State Gazette I 1994, 50, 845) also permits organization of lotteries for charitable purposes. Pursuant to this section of the law, charitable purposes lottery can only be organized for providing grants to Estonian culture, sports, sciences, education, medicine, social care, or environmental protection.

For the purpose of issuing licenses to operate lotteries, the lotteries are classified into two groups depending upon the prize fund. Under the provisions Article 5, sub-section 1 of the Law on Lottery, a lottery license for a prize fund not exceeding 250.000 EEK (approximately $15.974 Euro) may be granted to non-profit associations and foundations registered in Estonia. The provision does not require that the legal entity in question be located in Estonia. A lottery with a prize fund exceeding 250.000 EEK (approximately $15.974 Euro) can only be operated by public law entities -- state-owned enterprises designated by the Estonian Government and non-profit associations designated by the Government under Art 5, sub-section 2 of the Law on Lottery.

For purposes of lottery operation, a legal entity is considered to be located in Estonia when its management board or substituting body therefore is located within the republic of Estonia. Foreign legal entities are recognized in Estonia under Civil Code § 40 and §135. Regulation of passive legal capacity and active legal capacity of foreign legal entities is similar to those regulations for the Estonian legal entities, unless otherwise provided by law or agreement.

What types of lotteries do not require an operating license?
Article 8, section 3 of Estonia’s Law on Lottery specifies the conditions under which lotteries can be operated without holding an operating license. Lotteries conducted in the course of entertainment or charity events, operated by the organizers of such events, fall under this criterion. There is a ceiling on the selling price of such lottery tickets, of 5000 EEK (approximately $319 Euro). Under such lotteries, prizes may not be distributed in cash, and the same organizer cannot organize such lotteries more than three times during a calendar year.

Other types of lotteries which fall under this criterion are lotteries conducted in stores or other places of sale for the purpose of promoting sales. In such lotteries, the prizes should be the goods sold at the same store or place of sale. The prize fund should at least equal the selling price of the whole issue of lottery tickets to be sold.

These lotteries that do not require operation licenses may only be organized by permanent residents of the Republic of Estonia or a legal entity registered in Estonia.

What are the legal provisions prohibiting gambling advertising in Estonia?
Estonia’s Law on Gambling, Article 5, section 6, prohibits advertising of gambling services and gambling locations, other than advertising within legal gambling facilities.

Similar provisions are set forth in Article 19 of Estonia’s Advertising Act. This law delineates the permitted contents of gambling advertising in Section 2, Article 19. Pursuant to this section, the advertising of gambling shall be understandable and unambiguous, and shall not contain a direct appeal to participate in gambling. Art. 2 of the Advertising Act also creates a deeming provision for advertising, in that the information disseminated by the advertiser can be for the purpose of increasing sales of products or services, or for promoting an event or idea. According to the deeming provision, the object of advertising can also be to achieve other desired results in other areas.

On January 24 and February 19, 2008, the IRS siezed about $14.2 million from JBL Services, according to court documents filed in federal court in Balt

On January 24 and February 19, 2008, the IRS siezed about $14.2 million from JBL Services, according to court documents filed in federal court in Baltimore. And on July 2, it seized about $9.87 million from ZipPayments. The money seized from JBL Services was being held in bank accounts at Wachovia Bank, Regions Bank, Bank of America and Sun Trust Bank. The ZipPayments money was in Nevada State Bank accounts. Both companies are accused of processing payments for Bodog.

Bodog says the seizures haven't affected business for the popular online gambling site.

"Not one single player failed to get paid when this processor (JBL Services) was disrupted," Alwyn Morris, chief exectuive officer of Morris Mohawk Gaming Group, which assumed ownership and operation of Bodog in North America in mid-2007.

"Customer deposits are safe and every player has and will always be paid," Morris added, while acknowledging the challenges that working in the American market presents. "All operators outsource payment processing functions to third parties and these payment processors are subject to regulatory constraints wherever they operate, and, occasionally in the U.S., are subject to legal action because of the uncertain legal environment there."

According to court documents, Bodog first appeared on the IRS' radar in 2003, when the IRS Criminal Investigation division "conducted interviews" regarding Bodog founder Calvin Ayre. But a formal investigation into Bodog didn't begin until 2006.

During the course of the investigation, IRS Special Agent Randall Carrow became intimately familiar with the ways the online casinos handled paying their customers.

"Because of various developments (Department of Justice prosecutions and new federal legislation), it has become more and more difficult for Internet gambling web site operators to move money into and out of the United States," Carrow said in an affidavit supporting the seizures.

"To continue to make 'payouts' to gamblers, some Internet gambling operators have begun using money processing businesses in the United States," Carrow explained. "Based on my training and experience, I know that, typically, the gambling web site operator will send a U.S. processor a check or wire transfer of a relatively large sum of money, usually hundreds of thousands or million of dollars. The processor then distributes the money to individuals, either by check or electronic transfer of some type. None of the transfers identify the money involved as gambling proceeds.

"Bodog, through various entities, has been sending money to various processors in the United States, using several different business names, including MPS Processing Ltd., Direct Channel LLC, JBL Services, EGALO and ZAFTIG Instantly Processed Payments Corp., dba ZipPayments.com."

Carrow's investigation really began to pick up steam toward the end of 2006. After an informant helped link a payment processor owned by Bodog founder Calvin Ayre to Bodog's deposit system, and establishing the different Bodog owned and/or affiliated companies used for payments, including credit card transaction, the IRS used an undercover agent to places bets at Bodog.

The undercover agent opened an account on Dec. 21, 2006, and placed bets on two football games. By January of 2008, the undercover player had placed more than 40 bets, and wagered more than $3,500.

In February of 2007, the undercover agent requested a payout of $1,500. In March, he received a check drawn from a Direct Channel bank account with Mercantile Bank and signed by M.G. Scott. The check bounced, and in April, Bodog sent a replacement check.

According to Carrow's affadavit, through a combination of more withdrawal checks, forensic accounting and "cooperating individuals," the IRS tracked a payment chain back to Bodog and companies owned by Ayre or Bodog, and then back down to other payment processors including JBL Services.

Another "cooperating individual" at JBL Services admitted all of JBL's money came from Bodog, and the IRS moved in.

Carrow later discovered that a state gambling control board was also investigating Bodog. Carrow found a similar accounting chain when an undercover agent requested a payout from Bodog in April of 2008. The check from Zip Payments arrived in May, and Carrow traced the chain back to Bodog.

Bodog denies that all the ZipPayments money seized belongs to them. "This is simply false," Bodog said in a statement.

Simple ways to make huge and consistent gains

To find out information to begin your hyip playing life you should have a good understanding of why you are playing. Do not play just because somebody told you start playing. The why is often more important than the how. The reasons behind your game decisions will give you the motivation and the clarity to make your decisions wisely.

So, lets assume you have the reasons for your hyip game decisions. Next you need to look for information that will tell you how to play. If you are playing for longer time frame then it will require research. Some players often enter blindly into these hyips without much consideration for the long time frame outcomes.

Consider the outcome you wish to achieve for your long time frame hyip playing and plan backward to achieve it. This is done by looking a profit growth factoring and fees, charges, and expenses along the way. This way, you will have a good understand each month of just how your hyip portfolio is performing against your calculated expectations.

Learn as much as you can about the hyip world. Read articles and hang out on hyip related community public forums. These hold a wealth of information, discussion, and players who are like minded in their approach to playing. Ask questions relevant to your hyip decision, and gather further sources of information from other players on those forums.

Do not be afraid to risk small amount of money in learning more about game decision when you make your trial and error process via test spend plan. Often information and knowledge will cost. All schools are set up and operate on this basis. The cost of education can be far less
than the cost of the mistakes made in making the wrong hyip choices.

You will know when you are ready to play for the long time frame because you will feel confident in your decision when you do play. You will have the relevant knowledge and information to act
confidently. Your plan will fall into place and you will be able to measure your results as your games age. Should your hyip portfolio not be performing as well as expected, you will be ready to act with alternated plans and actions based on your previous and current research. Corrective action will come easily and effortlessly.

The big high odds hyips only come around infrequently, you can’t force them so wait for them. There are players who only play a few times per month yet they pile up triple digit gains.

Do not be in hurry, wait for the right opportunities. Some hyips are just normally come from the death of hyips where soon after that new hyips will launch which probably belong to the same admins.

Spotting hyip cycle direction could be easy but making profits from the move is harder. It is would be easy to spot where the cycle would move and some players are right about the cycle direction but simply can’t make much money from them. Why? There are problems normally with money management as well as psychologically.

In terms of money management, you must have a hyip exit point outside of normal volatility or you will get bumped out the game only to watch the hyip world stop you out and then go back the way you thought.

This is not normally a problem when you enter the game, but when you place your exit point. The fact is most players place their exit points up too tight and again get bumped out by volatility when you must hold it back outside of volatility. Sure you give a bit back at the end of the cycle but that should not bother you. If you caught 50% of every major cycle, you would make a killing from the hyip world.

Hold you exit point back and plan to place it slowly. You will find that this may look risky but it is actually less risky and will give you a bigger reward. The other problem with players is psychologically they can’t accept huge profits even when the hyip world wants to give them to them.

A typical example is a player gets in on a right hyip and makes a profit butt he bigger the profit becomes the more he wants to take it before it gets way. As the progit gets bigger and bigger, the more the player wants to take it until in the end he snatches the profit or
bumps his exit point right up. Sure he gets out with a small profit but most big and right hyips last a bit longer than common hyips and instead of having a spectacular profit, he has a small one.

Word of caution, play with this strategy, only with profits that you gain after you achieve the break even and manage to withdraw your initial capital successfully.

In hyip playing your aim is to make money, not seek perfection with hyip world timing, You just can’t do it. You have to understand if you want to bank a big profit from the major right hyips, you are going to have to give back a bit at the end to some hyips and have big profit
on some other hyips.

If you can play with discipline and patient, in long term hyip playing offers you lucrative returns and all you have to is accept the profits which the hyip world wants to give you.

Simple yet powerful analysis of how players win the hyip world

Every hyip player in the hyip world all around the globe, all have
just one objective, which is to make money. However, very few players
are able to successfully make money in the long time frame. When the
cycle is rallying up, almost every dick and harry makes money in the
hyip world. But when push comes to shove during the cycle down time,
they take along with them almost all the profits of unsuspecting
players.

Playing in hyip requires skills. If a hyip player is not
watching his emotional attachment to certain hyips, he will definitely
get his fingers, if not his life burnt. In order to avoid such mishaps,
it is important that he imbibes every hyip analyzing tools that are
crucially necessary for his success. Well in the way of analyzing and
picking the right hyips, you do not need a Harvard or Cambridge
qualification, ability, special or gifted talent to do well, all you
need is three simples tools. What the average prospective hyip players
needs are

1. Common sense

2. A good sense of overall basic hyip performance

3. A good sense of arithmetic; arithmetic is the branch f mathematics that deals with subtraction and addition.

How can one know which hyips will make profits in the hyip world? How
can you be sure that the hyips you are depositing your money into will
not burn your fingers? Such questions are tough to answer if you do not
know your way through the uncertain road of hyip game.

To be at home with analyzing hot hyips that can crank fortunes
into your e-gold, liberty reserve, or perfect money accounts, you must
be able to cultivate the ability to think straight. You must be
disciplined when it comes to controlling your emotions. Some players
destroyed because they could not separate their feelings from the
reality that was starring them in the face.

Hyips analyzing discipline can be achieved with strict money
management discipline. Every player must be able to acquaint himself
with the basic hyip analyzing tools like common sense, which enables
you to be able to think rationally. This is intended to open the eyes
of the player to objective analysis to show him how to identify hyips
for playing.

How to subtract falsehood in terms of hyips that do not have
strong plans and add up facts which based on calculation and research
realities. When a player is not familiar with the way of how hyips are
running, he can fall into the trap of repeating a sad history of loses.
A good sense of overall basic hyip performance can save a hyip plaer
from basing their game on guesswork or flimsy rumors that holds no
water.

Hyip playing is believed to be risky by certain category of
online money making opportunities and such people are intimidated to go
into hyip playing. Risk no matter how risky it is, can be lowered down
to the barest minimum by knowledge which will be of life help to you
ultimately.

You must understand that it is player’s sentiment that drives
the cycles of hyips. Your ability to know what is responsible for these
sentiments, why players respond to certain hyips the way they do is
very crucial to your hyip analyzing skills.

The hyip world is actually a battle field. You can win or lose
in the hyip world. It pays you to have a good strategy, discipline,
money management, logical nalaysis, and the right decisions.

Good strategy – Logical, good strategy is critical for you to
survive in this battle. You have to be able to determine the right
moment to jump in and jump out off the hyip. Prepare for the wrose and
you have to have a back up plan when the hyip cycle movement goes
against you or it will kill you.

Discipline – Once you have your own plans and strategies, then
apply it and be discipline on use it. Join the hyip when your plan and
strategy says so, and exit from the hyip when your plan and strategy
says so.

Money management – This is important for you to get survive in
this battle. Use only money where you can afford to lose. Consider that
money management is important for long time frame of your game.

Logical analysis – Even hyip cycles follow economic law; high
popularity = cycles up. This pays you to play using logical analysis
and not wish. Say, for instance, your red sign or scam alert indicator
in your plans and strategies give false indications. For this reason,
you have to get out off hyip. You should be rather lose in your exit
hyip point than wish that the cycle will return over and then rob all
your money.

Right decisions – The right decisions are not always make you
win in the battle. It sometimes makes you to be a loser in some hyips,
but as a whole, it makes you to be a winner. The most important thing
from this stage is how you learn from you lose and make your game
better and better.

Hyip weekly report – more fraudsters brought to justice

Most of us have heard about the shocking murdered news of the co-owner of e-bullion, Pamela Fayed. Meanwhile, as published on August 1st by Pacific Coast Business Times news, a class-action lawsuit filed in Ventura County seeks to seize as much as $5 million it claims are on account with e-Bullion.

The suit does not accuse e-Bullion of any wrongdoing. It alleges another company, Invest Manager, ran a Ponzi scheme and that the proceeds of that scheme might be stored in e-Bullion accounts.

The lawsuit against Invest Manger alleges the firm promised investors a 12 percent weekly return. The company delivered those returns for a time, building confidence among investors, the lawsuit alleges. But then Invest Manager stopped making payments and was not heard from again.

The people behind Invest Manger haven’t been identified, nor has its headquarters or place of incorporation, Renshaw said. There has been no reply to the complaint, which was filed May 20th.

After a legal notice of the suit runs for at least a month, a judge can rule on how much the plaintiffs are owed and give them the green light to purse the funds, which the plaintiffs believe are held in e-Bullion accounts.

AsianPay would be another soon-to-be-scammed payment processor as we heard more and more noises from people all around the world that AsianPay with its other companies and programs which are The Investors Corner and Thailand Gold Exchange had scammed them. AsianPay poses as a
credit card payment processing company.

Asianpay offers a payment processing facility that is far more seller-friendly than Paypal, Worldpay or any of the other major online payment processors.

Incentives such as no charge-backs after 7 days and decreasing commission percentages with increased volume, lure sellers to Asianpay.

Those companies which have been scammed by AsianPay and its subsidiaries had filed police reports and currently AsianPay and its owner, Carlo Sorio are under investigation by Thai authorities.

According to them, Carlo Sorio had ran away and when the police came to his residence, it was up for sale. So, currently Thai police is hunting him down. If you have been scammed by AsianPay you can visit this website http://kanitamo.com/carlossorioasianpaychiangmaihostingstoleourmoney.htm... and write about your complaints in order to proceed with legal action against those fraudsters.

AsianPay not only scammed people’s money via online but via offline too. There was news published in Thai newspaper that AsianPay had convinced people in Thai as well as Singapore to invest in the company and promised to give them lucrative returns.

More than 20 villagers in Hang Dong district had filed a complaint with police accusing a chief fund operator of deceiving them into investing with him.

The villagers alleged that AsianPay Co Ltd, which is operated in tambon Ban Tawai by Italian businessman Carlo Sorio, had persuaded more than 300 clients, Thais and Singaporeans, to invest with him, promising to provide them very good returns. The company's website
www.asianpay.com shows it also has an office in Singapore.

Each client was required to invest a minimum of 20,000 baht over a certain period, varying from 15 and up to to 360 days, the villagers said. At the end of the investment period, they were to
receive the invested capital and the interest.

The villagers said the company, which was established about four years ago, paid daily returns to its clients, or members, in the first few years.

<>One villager who fell into vicitm, said he invested 50,000 baht in the company. The company initially paid him US$3 a day. He then advised his relatives to become members. All transferred money to the chit fund via commercial banks. The villagers complained the company
stopped making payments to the members, saying it had encountered money flow problems.

<>Pol Lt-Col Tikawut Banditchusakul, the inspector at Hang Dong, said police would send the case on to the Department of Special Investigation if it was found to be a type of chit fund scam, luring people with false promises. It is believed the fund had a lot of clients in Chiang Mai.

<>Asdcashgenerator, a big and long standing manual surf program closed immediately after the company had been raided and the assets been seized by the Secret Service Agents on Aug 5th as reported on wctv website. And as of yesterday, on press release from Florida
Attorney General Office’s that, Bill McCollum had filed a lawsuit against Quincy company. AdSurfDaily accusing the company and its owners of operating a huge pyramid scheme. The Attorney General’s lawsuit is seeking civil damages for the victims and an injunction against the
company, its president, Andy Bowdoin Jr., and its employees to prohibit them from engaging in future deceptive marketing. The lawsuit comes on the heels of a raid conducted by the U.S. Secret Service on the company’s headquarters. The federal authorities also froze $53 million
in bank accounts held by the company.

<>The lawsuit filed by the Attorney General alleges that AdSurfDaily – also known as ASD – operated a pyramid scheme, a multilevel marketing operation which depends on new investments to keep the scheme running. The lawsuit claims there were insufficient funds from any legitimate enterprise to support the profits ASD promised to pay. Instead, ASD depended upon new victims to turn over cash in order to make promised payments to those who had earlier given money. The
Attorney General believes many of the victims of AdSurfDaily were Floridians who were scammed into handing over thousands of dollars to Bowdoin with promises of big profits that were rarely, if ever, provided.

<>According to the lawsuit, the pyramid scheme promoted by ASD is a violation of Section 849.091, Florida Statutes, and a per se violation of the Florida Deceptive and Unfair Trade Practices Act found in Part II of Chapter 501, Florida Statutes. The Attorney General seeks actual damages for consumers as well as civil penalties. The lawsuit is not connected with the criminal investigation being conducted by federal authorities.

<>Officials from the US Attorney's Office say they believe this business was a "Ponzi scheme that he masked as an advertising company." Investigators were executing a search warrant yesterday for documents and computers at AdSurf Daily, an internet marketing company. Sources close to the investigation say Ad Surf Daily made more than 100 million dollars in just a few months. Investigators are still on the scene at the business located at 13 South Calhoun Street in Quincy.

7 danger pieces you should not overlook

There is one unquestionable law that every rational hyip player globally have all accepted, and that is cycle of hyips ups and downs depending on the existing players per time. Meaning that hyip cycle ups and downs every now and then due to hyip activities and forces that take place within and outside of the hyip world.

If this is true, then every player must be abreast with certain undercurrent negative and sometimes very dangerous human emotions that lurk around ever ready to pounce on unsuspecting players, leaving behind bitter tales of woes in the mouth of it is victim. Let’s begin to itemize these danger signals or red signals if you like:

1. Ignorance – When a player is ignorant of basic hyip playing skills that affects the changes of the cycles of hyips on the hyip world, they always end up being slaughtered as chickens in the chicken farm.

2. Entry and exit skills – When a player is ignorant of the best time to join a hyip and the best time to exit from such hyip, they end up having their fingers burnt severely. Per time, every hyip has its period of performing well, you must find out the suitable and fitting time to deposit in a hyip. Every hyip has a peak cycle when the saturation point is reached, which means at that point the rising of the hyip cycles begins to dip.

3. Greed – Every player always want more whenever we make profits from our playing and it is human emotional weakness every player must watch.

4. Remember the 80 - 20 rule – The 80 – 20 is used a lot in business and proposals that 80% of your profits come from 20% of your clients. This rule can be applied in many areas of life and in hyip playing it is very applicable and means that you should cut your playing frequency back. Many players think the more they play, the more they will make but the reverse is true. All they do is end up playing games that are not good risk rewards and lose. Wait for the really high odds games and hit them. Some players who play around a few times a month yet make nice amount of profits. Playing less can mean making more for most players so cut back and only hit high odds games.

5. Risk more per hyip – If you are playing high odds hyips then you can risk more on them and make the gain worthwhile. Many experienced players tell you should risk only 2% per game but consider on a small $100 of initial deposit, that’s $2. Look to risk 10% or even 20% on the high odds games and have the courage of your conviction.

6. Do not over diversify – This is fine if you are trading a large account of $5,000 - $10,000, but for small potato players to diversify for the sake of it, does not reduce much risk at all but simply dilutes profits. Focus on a few hyips only and do not dilute its potential.

7. Take profits early or partial profits – On surges in cycle in many instances it is a good idea to take out the overall profit as soon as the hyip plan that you choose is completed or partial profit as the hyip plan that you choose is still running half way but you notice there are some problems with the hyip.

When you play hyip you are immediately at risk and how you control the risk, will determine how good your profits are going to be. You should hit high odds games then, take calculated risks when the time is right and at the same time protect your initial capital.

Money management should be a key area of your hyip knowledge, so learn how to do it correctly and you could soon be on the road to hyip playing success and triple digit gains.

Some players depict that playing in hyip is like an art. Like all art needs to be patient, know the instruments, put our dedication, study, learn, as well as make deposits with an appropriate attitude.

All those who think that the exercise of playing in hyip is an easy and quick way to getting rich not know the hyip world nor know anything about what it means to play.

Playing in hyip involves making and take into account such things as study the hyip world, how it plays, knowing and applied a disciplined game strategy, knowing very well with regard to depositing at the right time on the right hyip, namely to control our emotions to the point of not competing with the realities that we are hyip cycles, namely taking calculated risks, know the stories of behavior hyips and the factors influencing in them, learn to recognize mistakes in time and learn from them, among many other things.

Characteristics for successful newbie players

Do you know what makes a successful player? Here are a few characteristics which you should strive to have:

1. Successful players are prepared. Having clearly define playing plans and strategies is of utmost importance. Too many players make it up as they go along.

You should have a written plan of what you want to join and why. You should know when you want to get in with clearly defined triggers, when you will take profits, and when to cut your losses.

The first set of rules which you develop is the easiest to follow. We usually have trouble with the last one, which is when to cut your losses. You should plan for everything. Leave nothing to chance. You should have a well organized schedule, and stick to the plan all the way through.

2. Successful players remain emotionally detached. Once you enter a hyip, are you willing to forget about it until your predetermined exit hyip point strategy is met?

Well you should not. Once you have put in a deposit into your hyips, you should not simply forget about it until your exit hyip point is met. See, in the hyip world, you should have to monitor these hyip cycles in case something drastic happens. Review your hyips in order to determine if you want to take profits, or to ensure your target profit was filled.

Anything else is just an exercise in pointlessness, and can even be dangerous when you use your emotions to guide your decisions.

3. Successful players take a longer term view. Everyone wants to make a thousand in a day. This is achievable, but not likely. You must take a longer term view, and realize that it will take just a little longer. No one has a monopoly on ideas. What works for some, may not work for others.

4. Successful players expect to become rich. Let’s face it, you play because you expect to make a better return than anyone else. However, to be successful, you must play like you mean it. What does it mean by this. Well you must play like your entire survival depended on it. Never be careless with your money. You worked hard enough for it, so make sure it remains with you for as long as possible and produces many ‘offspring’. Expect great returns, and do everything within your power to achieve it. Read hyip news and articles, mingle around on hyip related discussion public forums, find a good scam alert website (like eCoomerce-Journal.com), and translate this into an empire.

5. Successful players make things happen. Go after what you want, do not let anything stand in your way. The sky is the limit. You can be a successful player. There are some players making serious money in this game, and you can be one of them.

If you hang on too long, the up tick will have passed and the hyip could fall. More times than not, players wait too long and as a result they do not make money.

If you are new to playing hyips, it would make sense to begin with test spend plan. There are plenty of hyips that allow you to play and make trial and error. This means that you are not using a great amount of money, yet you are choosing your hyips, getting in, and getting out with less risk of losing money. You could make small amount of gains or losses. Many players started out this way and went on to make money when they felt confident enough to become a more serious hyip player playing their bigger amount of hard earned money.

When you playing on test spend plan, you can research, observe, as well as analyze the live of the hyips, such as how long normally hyips will keep on paying, after how long of running before hyips started making selective pay outs, and when normally hyips stop making pay out altogether. Then you can use the analysis and data as part of main ‘ingredients’ in your hyip game plans and strategies.

Because you are playing in such a volatile and speed change of hyip cycle, you can’t wait for delayed information. So you must be always alert to current hyip news and any related events.

Do hyip analysis such as rate of return versus hyip live ration and total incoming funds versus total pay outs ration so that you can double check the news alert leading you to get in or get out before you actually do it.

Before you begin playing you should set up a few rules for yourself. Limit your losses. You can put a dollar amount on what you will allow yourself to lose in one hyip, but you must stick to it. Many hyip players make the mistake of holding onto hyip too long and rather than exit when the hyip cycle initially started moving down ward, they hold onto it thinking the cycle will re bounce and everything goes back to normal again and they will not lose money. Instead, they lose even more money than they would have had and they exit when the hyip hit their loss limit.

Do not play every penny you own in hyip playing. That simply is not smart. Just as if you would like to hold a portfolio of diversified online money making mediums, you also do not want to put all of your 'eggs' into the hyip playing.

Important approaches towards hyip playing success

In order to develop the right mindset, to have a player’s psyche, you need to know what to expect when playing hyip. You must be prepared for a variety of emotions so that you can monitor them instead of letting them control you. Only by staying on top of your emotions can
you stay focused on the key to successful hyip playing and maintaining a consistently profitable plans and strategies. To keep that focus, develop the traits of a player’s psyche in yourself.

Successful
players have patience. They know that most positions will not be profitable the minute they are joined. It takes time for hyip cycle to increase, or to move at all. You should never expect a peak cycle to jump right before your eyes.

Besides, remember that focusing on a particular hyip is not your main goal. If you are serious about establishing a long term plans and strategies for consistent success, any one hyip is only a small part of an overall plan. It is the plan that you want to be successful. Of course it is nice when each hyip goes well, but if it is not because of your method, you have not learned anything you can repeat in the future.

Also keep in mind that successful players do not overplay. They realize that doing so puts their money at risk, and they know that not every day is a day for playing. They wait for high probability opportunities. Expecting too much out of any one hyip, or even out of
any one day, can cause you to overplay. You may find yourself wanting to see immediate success, and when you take more games, it at least makes you feel active. But if you are not acting according to the
strategies you devised for yourself in your planning sessions, you are
destroying all the work you have done. Even if the extra games are
profitable, you have not really learned anything that can contribute to
a consistently successful playing opportunity. You have only gotten
lucky.

Playing in hyip needs to be patient, know the instruments, put
our dedication, learn and make deposits with an appropriate attitude. All those who think that the exercise of playing in hyip is an easy and quick way to getting rich not know the hyip world nor know anything about what it means to play. Playing in hyip involves making and take
into account such things as study the hyip, where to plays, knowing and applied a disciplined game strategy, knowing very well with regard to playing at the right time on the right hyip, namely to control our emotions to the point of not competing with the realities that we are
hyip cycles, namely taking calculated risks, know the stories of behavior hyips and the factors influencing in them, learn to recognize mistakes in time and learn from them, among many other ways.

Wait for situations that meet your criteria. See yourself as carrying out a program, not as grabbing for any little profit the moment you can. Remember that no one hyip is as important as
establishing a method of success across your entire portfolio. And creating that method will take time and patience.

If you can integrate these insights into your own psychological mindset, you will gain a significant advantage in the hyip world.

There are some key points to lock into your memory in order to guide you into a successful playing portfolio:

1. Learn what hyip is – Learning about hyip playing is crucial to knowing what you are getting yourself into. eCommerce-Journal is a site on the web that provide very basic and detailed information on hyip playing. This site offers step by step levels of what hyip playing
is about and how to begin.

2. What is your playing style? – Your playing style is unique to what you have learned and your playing time frame. There are those who only rely on hyips that re hotly discussed all over the net and paying status on various monitors. There are others who only rely on the heavy promotions and recommendations by friends. Then there are those who take a little bit of both the hot hyip picked and recommendations to create their style of playing. When finding your
style, figure out what times you are available and how long you are willing to risk in a hyip. Hyips may take hours. It all depends on your lifestyle, how much you can afford to play, and how you apply what you have learned.

3. Practice makes perfect – Once you have obtained some knowledge in playing and created your playing style, begin to practice what you have learned. Once again the internet has proven to be a one stop game, even in the world of hyip. There are many small hyips that are available for test spend. Most of the test spend plans offer real hyip world activity. There is no better test harness than the real hyip world. Tetsing with the test spend allows you to see your weaknesses,
perfect your analysis and strategy, and give real experience before risking bigger amount of money.

4. Hyips – Picking the right hyips can prove to be critical in the world of hyip. Hyips can work for you or against you. When looking for hyips it is always helpful to research online. There are websites hyip related community websites that do review or a scam alert on hyips
and one good website is eCommerce-Journal.

5 vital advices when play in hyip

It is true that fortune can be made in the hyip world. However, there are also stories of people losing a large amount of their money. Others who just dive into the hyip world without knowing the basic principles of the game quit after some time, telling themselves that the hyip world does not make anyone any money. You need to first understand the basic principles of the game so that you might enjoy hyip and be successful in the hyip world.

1. Playing in hyip is like a roller coaster ride. Do not jump in unless you can sleep at night with big changes in your portfolio. The biggest advantage of online hyip playing is the huge profits that are made when the cycle goes up. However, this is also conversely true
because huge losses can also be made when the cycles goes down. We can take advantage of this situation by depositing as early as possible and withdrawing as soon as the profit is made although, that it sometimes easier said than done. Profits can only be made during those up moments of the cycle. Ideally we would like to see a long rally where we can just deposit and re deposit, but those are far and few between. During the ups and downs, it is a tough hyip world for beginners and pros.

2. Long time frame or short time frame? You should determine what type of player you are. This question is very important and should be asked by every serious newbie player. Long time frame players hold their deposits for 5 to 10 months. This means they believe in the hyip
they are depositing in. This also means they have extra money for other things because they can afford to put their money in for a long period of time. The advantages of long time frame playing is that they do not have to worry about the fast turning to scam because the ratio of total daily pay outs are far less against the total daily incoming funds
analysis that has to be monitored.

On the other hand, a short time frame players cash in within a weeks time to months time. If you are a short time frame player, one thing that has to be considered is the monitoring of the day to day activities of the hyip. Some players prefer to play short time frame as
they have the time to watch and monitor their hyip portfolio. Look what would have happened to you if you deposited in SolidInvesment or MinInvestment long time frame. You would have lost everything. Both hyip types flashed red signs of doom or scam alert and it was easy to
get out before they collapsed. However, the only one’s who lost were long time frame players as they took longer time just to break even. Another advantage of short time frame is the ability to make a quick profit, get out off hyip when things go bad, and re deposit in better
hyip prospects. This allows players to compound their money.

3. Online hyip playing does not require you to have tens or hundreds of thousands of dollars. You can start with as little as $5. However, the commissions from funding and withdrawing or exchanging in and out off the e-currency based payment processor will eat up a lot if
you have a small amount of initial deposit. Also you can’t always be right and you need money to weather the storm. If you have a small amount of initial deposit, wait to do any online hyip playing until the cycles are in rally.

4. You must learn how to minimize your losses and maximize your profits. If you lose 8% on a hyip, you only need to make 9% back on the next one to break even. Well, a 9% profit is not hard to do. On the other hand, if you lose 50% on a hyip, you need to make 100% on the
next one to be even and making a 100% profit is not easy.

5. The hyip world is kind of a rich quick scheme. Always take note of the principle that money takes time to grow. Those games that give you very high rate of return in a very short time frame come with a high degree of risk. Always strive to achieve high returns with
minimal risk. Combine that with short time frame and long time frame playing, can produce some nice returns over the course of a few months or so. If you are like the average person you have probably been working for more than five years, but probably still do not have much
to show for it. Working only allows you to obtain the money to play while it is those hyips with effort, knowledge, and experience that over time will make you wealthy.

What kind of people use paypal, moneybookers and other online payment options?

There are surprising demographics. It is not only those who don’t have a credit card, or who are cautious about putting credit card details online. More companies are using it to pay suppliers or freelancers who do work for them. Its a good way for a company to hold some funds in an account for that purpose, thus removing all those movements from the regular bank account. The simplicity of sending money to “joesmithsmoney” is a lot easier than getting the iban codes,swift addresses and coordinates for numerous international bank accounts. More people use Ebay to purchase things large and small, everyday, then there’s secondlife, and amazon, and online gambling, its endless…. they may not want to insert credit card details for many reasons. ( no I don’t work for them or get any kickbacks. Although if after reading this, any of you efinance companies begin to feel overwhelmingly generous towards me…. go ahead, double my balance, I dare you.)

Many people, on various forums I have visited, have many axes to grind with paypal and others, who they say won’t give them their money back when they want to close the account, or withdraw funds. (See previous blogs written by Mark and Benson.) I myself have had no problems with this. I do have a nominated bank account however, to empty funds into, so I can get the cash. I also secured my paypal account with my master card perhaps this helps, I dont know how though.

On-line payment companies have been offering cards to draw money at ATMs, or to use as a charge card, for some time now. I think it rather depends where you live, when it comes to the secuirity of these, as some are very bad and others Ok. Anything based outside of regulated U.S.A. or Europe is probably a risk. But don’t quote me on that, again just an opinion.

A nominated bank account is kept within your paypal account, and should you want to empty some funds into your bank account, you request this. I normally wait 5 days for an international transfer into my bank, I wait till I simply have to, there are no charges for this. Although I do pay when receiving funds into Paypal.
If you need to close your account, this can be accomplished with a nominated bank account. Simply request it. I haven’t tested this, as I don’t want to close mine and open it again. Please give me feedback if you’ve had a problem closing, and I’ll research this more. There are hundreds of threads on paypal-forums about this, so Google it.

British e-commerce. Feel the difference!

Based on real life purchase transactions, the Pago Report 2008 highlights national differences in consumer and payment behaviour in European e-commerce

British online merchants are increasingly attracting more international consumers. Whereas consumers from Germany make up over 95% of custom in German online shops, only 45% of customers in UK shops are from the UK. Nearly one third of international customers stem from countries outside Europe, like the USA or Asia. The Pago Report 2008 has just been published by Pago eTransaction Services, the international Acquirer and Payment Service Provider. This, the seventh edition of this respected report, entitled "Trends in E-commerce Purchasing and Payment Behaviour based on real Transactions", analyses developments in European online consumer and payment behaviour, non-payment risks and trends in important e-commerce industry sectors. Essays by prominent experts from the major credit card organisations, the Deutsche Bank, giropay and the University of Karlsruhe round off the Pago Report 2008. More information is available at www.ecommerce-report.de.

According to the Pago Report 2008, online shops in the UK are more attractive to foreign consumers than are, for example, German online merchants. In German shops less than 5% of online purchases are made by international consumers and only a negligible 0.8% from outside Europe. This could be a result of the language barrier. In contrast to German, English is the most widespread language in the world and with over 340 million native speakers alone and it is understood by a majority of e-commerce consumers. Overall in Europe, German and British online consumers are the most active e-commerce participants but Irish consumers have gained a lot and now rank fourth in Europe behind French consumers.

"E-commerce is still a black box for many. The Pago Report attempts to shed light on the matter," said Dr. Markus Weber, Pago eTransaction Services GmbH's Managing Director, adding: "In contrast to all other studies which are based on polls, the Pago Report is unique. We analyse real life purchase transactions processed by thousands of European merchants through the Pago platform. This gives a valid picture of e-commerce which is not only interesting for experts and researchers but also provides European merchants valuable information to assist in their entry into this promising market."

Selection of about 30 million purchase transactions forms basis of the Pago Report 2008

The Pago Report 2008 is based on a selection of about 30 million purchase transactions processed through the Pago platform between October 2006 and September 2007. The report is based on real life purchase transaction and not on analysis of polls and surveys. The Pago Report covers online merchants in Germany, the UK and the rest of Europe. The report analyses consumer origin, merchant country, transaction values, purchase time, consumer gender, payment methods - including the new online payment methods Maestro and giropay - success rates, chargeback ratios, direct debit chargeback ratios as well as the general non-payment risk with a detailed look at the implementation of 3-D Secure. 3-D Secure is a procedure introduced by the major credit card organisations which allows the identification of the cardholder thereby preventing a large proportion of e-commerce chargebacks. The chargeback ratio is the percentage of credit card transactions which are reversed due to cardholder dispute.

No real Christmas shopping season in UK e-commerce

Online consumer behaviour in Europe is characterized by differences between individual countries. Whereas German online consumers make about one third of their purchases between October and December, UK consumers do less than 10%. In essence: E-commerce for British consumers takes place only between May and September.

British e-commerce consumer slowdown at weekends

Whereas e-commerce is becoming a more attractive weekend activity for consumers in Europe generally, there is a marked slump of activity by UK consumers at weekends. In contrast to global trends, UK weekend online consumer activity has dropped further. Only 20% of all weekly transactions are executed in the UK on Saturdays or Sundays. In comparison, consumers outside the UK and Germany account for 26% of their purchases over the weekends.

UK online consumers do their shopping during office hours

According to the Pago Report 2008, there are also differences in the preferred time for online purchases: German consumers use the period from 8pm to 10pm, i.e. after work, most whereas the peak period in the UK is between 2pm and 4pm, i.e. during working hours.

The credit card dominates European e-commerce

The Pago Report also found differences in payment behaviour between the consumers' countries of origin. Whereas German consumers still pay for two out of three purchases with payment methods other than the credit card, consumers in UK and from the rest of Europe and Non-European customers use credit card payment for over 90% of their online purchases. As the first non-UK acquirer, Pago has offered Maestro since the summer of 2006, the internet enabled debit card payment method, to its merchants. Maestro is already a leading payment method in the UK and will gain importance with the introduction of the European-wide SEPA framework. Maestro payments, analysed separately in this year's Pago Report for the first time, account for about 10% of online purchases in the UK.

The future success of the SEPA Direct Debit Scheme (SDD) still remains incalculable. As a single European legal framework is required, the European Directive needs to be transformed into national legislation by November 2009 before SDD can be introduced throughout Europe.

New payment methods gain importance in European e-commerce

Until now, the analysis of consumer e-commerce activity was limited to European countries. The Pago Report 2008 has extended its analysis to include Non-European countries and individual continents. And for the first time the report looks at European consumer behaviour based on time of day. Due to differing time zones, only German consumers could be properly examined previously. Insofar the Pago Report is taking into account the harmonisation of the Single European Payment Area (SEPA). Beyond Maestro, for the first time the 2008 Report also looks more closely at giropay, the new national online funds transfer method introduced by the German banking system. Analysis of these two new payment methods reveals their growing importance.

Asian e-commerce holds great growth potential

Asian Internet use is rising rapidly, and China and India offer the greatest short- to medium-growth potential in the world. The immediate beneficiaries of this trend will be Internet servers and manufacturers of personal computers, but rapid growth of e-commerce in the region will reshape consumption patterns for certain products and services.

According to a report entitled "Asia-Pacific Online" released by the research firm eMarketer, the number of Internet users in China nearly doubled in 2003 to reach 114 million people. Chinese oInternautso should number 250 million by late 2005.

Manufacturers and marketing companies are increasingly shifting their attention toward Web sites and e-publications as venues for reaching Asian customers. That, in turn, is contributing to dynamic growth of the online publishing industry.

The Online Publishers Association reported that third quarter growth in advertising revenues rose by over 45 percent year-on-year. The preponderance of publications under the AssociationAEs umbrella are in English, but the language mix will change as the number of titles in Chinese, Japanese, and Korean come on strong this year and next.

The shift toward seeking news and other current information via television and the Internet will cause a gradual shift away from traditional print publications in AsiaAEs leading urban centers.
However, widespread use of the Internet as a news source continues to be inhibited by the lack of broadband access in leading Asian markets. Companies offering broadband services and equipment for servers should experience sales growth in excess of 20 percent during 2004 and 2005.

It appears that the broadband barrier will be surmounted over the next few years as Asian nations like Taiwan and South Korea scramble to put the corresponding infrastructure into place. By the end of this year, over 90 percent of South Korean Internet users will have broadband
connections. Progress in that area will be slower in China and India, where broadband access will primarily be limited to major metropolitan areas for several more years.

From a demographic perspective, China and India, account for over 37 percent of the worldAEs population. In both nations, the highest rate of Internet use is found among teens and young adults. Those age groups are particularly tuned into electronic gaming, and that will contribute
to healthy revenue gains for game-related Web sites in 2004 and 2005.

The worldwide subscription income for online gaming sites was valued at over US$600 million in 2003. Korea and Taiwan are the leading markets. The former accounted for a disproportionately high market share of over 50 percent, but other Asian nations are coming on strong. Overall Asian gaming revenues should grow in excess of 15 percent per annum this year and next.

Asian service companies will be among the greatest beneficiaries of growth in e-commerce over the next few years. Consumers in leading Asian consumer markets are only beginning to grow accustomed to booking air travel, car rentals, and hotels via the Internet, but double digit sales growth in those sectors will be noted this year.

Motion picture companies will benefit as viewers purchase videos and movie theater tickets via the Internet. Due to their compact size and ease of shipment, DVD sales should come on strong, but theater ticket sales will also see healthy gains.

AlterGold is under DDoS-attack. How long will the system be down?

On August 15 one of the youngest and one of the most aggressive processors of the today’s online payment market – AlterGold have surprised its customers. However, surprise was rather bitter, or it’s better to say that it was really a shock, rather than a surprise: the site was down.

Interestingly enough but the first though that came to the mind was: Altergold is a scam!!! They have stolen all the money and ran away… Curiously enough but the system, which usually worries about its reputation and makes a splash in press covering every minor step or action, this time was silent. Meanwhile, the phrase: Unable to Connect with Database Host was making all the customers crazy. All the forums were boosting with the posts like this:

i´m a little bit afraid now. in some threads here in forum people discussing about that altergold is maybe scam. now the site is down.

Only later the admins was pleased to announce its customers about the reason of the site outage by posting the following:

Dear Customer,

We regret to inform you that the AlterGold website is currently under DDOS attack at this moment.

All efforts are in place to bring the site back online as soon as possible. We apologize for any inconvenience caused by this interruption to service.

Regards,
AlterGold Management

The effect was unexpected. The customers haven’t calmed down; on the contrary the flame was kindled. People started guessing why the developing and the promising system that was pretending to replace e-gold and the wounded eBullion was down. Let’s try to guess as well: The system that is down for several hours probably have a weak protection. The weak protection means the lack of financing. Considering the money spent by AG for the advertisement we cannot say that they are weak, so here another idea suggests itself: altergold simply doesn’t want to spend the money for a good hoster as it doesn’t care for the security of its customers for whom the security of the system was a primary meaning. However, the users have another point of view:

If there were under ddos atttack, then you wouldn't see that message (because the server would crash).

Even I didn't expect them to run away with the money that soon.

The same time we are interested why the official blog of Altergold is keeping mum as well. The last update of the site was on July 24, 2008. And it is very strange as the primary function of the any blog is to provide the information. Or, may be the admins think that website outage is a minor problem and it not worth to be covered? Very unpleasant situation indeed, and the complete lack of any information is just killing… So, what is it? Ddos attack and the admins neglect or a daring scam? At the moment we can say nothing just to guess.

Emas Rebound Tipis Pada Perdagangan Asia

Emas pada perdagangan hari ini (18/08) terpantau rebound tipis dari level terendah selama 9 bulan terakhir. Seiring dengan penguatan dollar, maka alternatif investasi emas menjadi semakin tidak menarik. Apalagi pelemahan minyak juga menjadikan emas kurang bermanfaat sebagai alat hedging terhadap inflasi.

Emas pada perdagangan di Asia pagi ini terpantau bergerak pada kisaran $796.90/797.50 per troy ons, rebound tipis dari penutupan perdagangan minggu lalu yakni pada level $786.00. Emas pada perdagangan Jumat lalu sempat menyentuh level $773.00 mendekati level terendah dalam sembilan bulan, yakni $772.70 per troy ons.

Outlook Eropa yang memburuk mengakibatkan Euro tertekan dan Dollar menguat. Tercatat dari level tertinggi Euro pada 15 Juli, mata uang Eropa ini sudah anjlok sekitar 8.6% hingga minggu lalu pada level $1,4655, terendah sejak enam bulan terakhir. Ke depannya, Eropa berencana untuk mempertahankan suku bunganya demi mendorong pertumbuhan perekonomiannya, sehingga ini cenderung menguatkan Dollar AS. (RP)

Emas Anjlok 2,8%, Penurunan Mingguan Terbesar Selama 25 Tahun

Harga komoditas emas pada akhir pekan lalu ditutup melemah 2,8% atau turun $22,40 dan ditutup pada level harga $792,10. Hal ini berarti emas selama pekan ini turun pesat sebanyak 8,4%. Penurunan ini merupakan penurunan mingguan terpesat sejak 25 tahun terakhir. Hal ini dikarenakan imbas reli dolar dan ekspetasi pelemahan ekonomi global yang akan melemahkan demand akan emas kedepan

Hal ini membuat tekanan aksi jual yang besar atas emas akibat investasi di emas semakin kurang menarik selama pekan lalu. Harga emas diprediksi masih akan melemah menyusul masih memburuknya data ekonomi eropa dan negara lain.

Hal ini akan menekan harga emas kedepan menyusul masih akan menguatnya dolar terhadap mata uang utama lainnya. Bank sentral eropa diperkirakan akan menahan suku bunga nya kedepan guna menggenjot perekonomian eropa yang melemah. Hal ini tentunya akan membuat ekspektasi dolar menguat kedepan dan tentunya akan melemahkan harga emas. (CH)

Update Harga dan Stock

Goldmediator menginformasikan perubahan harga transaksi jual beli dan tukar commerce gold, pecunix dan liberty reserve , menjadi sebagai berikut:

Harga Beli:
* Webmoney (WMZ) (9700)
* Cgold (9300)
* Liberty Reserve (9550)
* Pecunix (9300)


Harga Jual:
* Webmoney (WMZ) (9100)
* Cgold (8700)
* Liberty Reserve (9000)
* Pecunix (8700)


Kurs Tukar ecurrency:
* Cgold 3%
* Liberty Reserve 3%
* Pecunix 3%


Spesial Promo:
Beli Liberty Reserve $100 dan kelipatannya akan mendapatkan bonus 1%.

Stok:
* Webmoney (wmz) ($2000)
* Cgold ($70)
* Liberty Reserve ($8000)
* Pecunix ($250)


Efektif tgl 10/08/08 dan sewaktu-waktu dapat berubah tanpa pemberitahuan terlebih dahulu.

Saat ini goldmediator berhenti bertransaksi e-gold. Harap maklum dan terima kasih.

Silakan melakukan transaksi jual.
disini untuk melakukan transaksi beli
dan disini untuk melakukan transaksi tukar
Terima kasih.
Selamat berbelanja di Goldmediator.

Management Goldmediator

website: Goldmediator

Liberty Reserve Expands With Gold Backed Reserve Currency

"10/19/2007, Important Information, There are no M.L.A.T* treaties signed, or otherwise established between Costa Rica and the United States. HOWEVER, there are M.L.A.T* and cooperation agreements established and in force with the governments of the United Kingdom, Panama and many other countries. Unlike Liberty Reserve, which is registered in Costa Rica, any company that claims to be registered in Panama, United Kingdom or in any of the countries on the M.L.A.T* list is in fact in danger of being raided by US authorities and are just as vulnerable to unfair seizures as e-gold."

Alive and well living in Costa Rica, the Liberty Reserve system appears to be well out of "Angry Uncle Sam’s" grasp.

LR is a growing, popular digital currency system with operations similar to those of e-gold in the early 1990’s. However this system has some super advantages and the operation is run by a very experienced team. Their marketing skills, communication efforts and global reach are now paying off dramatically. When you compare the traffic numbers from Compete.com, you will see that LR has overtaken the previous second place contender e-bullion and is now gunning for the top e-gold spot. If busy & happy exchange agents are any indication of success, we might conclude that Liberty Reserve is at the pinnacle of success already. Low exchange rates, sci integration, multiple language demos and ads....LR seems to already have it all.

The company has just completed their gold backing accounts, so if you don’t already have a Liberty Reserve account, its officially time to get one. From the official Liberty Reserve Blog.

3/15 Important - gold backing, Liberty Reserve is working on adding gold backing. In addition to USD and EURO, a third option - gold backing, should become available later this year. We have successfully implemented and tested the software portion of this update. We are now in the process of research for the most reliable and cost effective solution for physical gold storage for our members. There will be an additional announcement made as soon as we are ready to accept orders from exchangers. We may enable our software to support displaying gold balances sooner, but please refrain from e-mailing us about gold backing until we make an official announcement. http://blog.libertyreserve.com/2008/03/important-gold-backing.html

6/25 Gold backing is coming, After a thorough and careful research we have found the best solution for our members for gold storage. We are in final stages of signing necessary documentation and preparing the allocated storage. The allocated storage will be audited twice a year and audit information will be publicly available on-line in the upcoming new version of Liberty Reserve software. Physical location of gold will be in Europe, under the management of well known and reputable metal depository entity. http://blog.libertyreserve.com/2008/06/gold-backing-is-coming.html

7/09 Gold backing, As we have promised, we have reached and signed an agreement for allocated gold storage. Once this option is enabled you will see a third balance (in grams) listed on your account. We are preparing updated instructions for exchangers for purchases of gold inventory. http://blog.libertyreserve.com/2008/07/gold-backing.html

7/15 Finishing all upgrades + gold backing, We are happy to announce that we are finishing all the upgrades. We have installed all the physical equipment and testing it now. Gold backing is now available as promised. We expect to be finished before the end of the day (GMT-6). http://blog.libertyreserve.com/2008/07/finishing-all-upgrades-gold-backing.html

7/16 Gold Backing, Please note that obligated to meet strict requirements of our gold backing provider for availability of service on-line and connection of gold price feeds, we are required to update slightly our software and provide you with uninterrupted service solution, which is currently being done through Prolexic. Our part has been done as we have promised before. We are now awaiting for Prolexic to to finish their installation routine. As soon as we get updated completion time we will post it here. We understand this may be frustrating to many, but please rest assured that these steps are necessary for the web site to work flawlessly in the future. http://blog.libertyreserve.com/2008/07/gold-backing_16.html

5 blog entries and updates in 4 months...now that is good communications with clients. One of the best traits of Liberty Reserve has been the constant marketing of the digital currency across many web sites in the past year. Ads appear in multiple languages, exchange agents are doing business locally in many countries and even the so called ‘investment’ program web sites have plenty of demo’s and screenshots showing how to get started or how to make a payment using a Liberty Reserve account.

This digital currency will no doubt be the most widely marketed currency since the Internet began. Visits are initiated when a user enters a site. As the user interacts with the site the visit is live. Visits are considered live until the user’s interaction with the site has ceased for a 30-minute period.

For instance, User A enters Yahoo at 9:00. User A checks their email and reviews the week’s weather forecast. User A then goes to a meeting at 9:30. She returns at 10:30 and checks her Yahoo email again. Since 30 minutes lapsed between her two interactions User A is considered "one person" that made "two visits".

DGCmagazine does not recommend or even condone any Internet ‘investment’ schemes ever. Costa Rica is still a sovereign nation and free to make their own laws- CR allows this DGC to legally operate.

How the ‘Man’ finally brought e-gold down by Pelle Braendgaard

e-gold is an 100% gold backed electronic currency. It revolutionized the electronic currency world using pretty simple double entry book keeping technology backed by currently 2.54 metric tons of gold and innovative legal structures to keep it safe. They are in the news today and there are lots of things startups can learn from their story about trust, innovation, legal structures, transparency and how not to deal with regulators.

It is with sadness I today read Douglas Jackson’s blog post outlining the final blow to e-gold by the US government. It felt like this wasn’t written by Doug, but by Doug with the NSA’s secret alien mind control device implanted. In reality the mind control device used was the threat of 20 years of jail and a half million dollar fine.

Also as I write in the Agree2 User Agreement:

‘We are men of principles, but stronger men than us have changed principles with 3 hovering black helicopters over them. If you know what I mean.’

This is a case where probably a bit more than 3 hovering black helicopters were hovering over them. So I guess we can only feel sad and hope the best for Doug and his family.

The Charge

The government had been after them for a while and where they finally got them to plea bargain admitting "Conspiracy to Commit Money Laundering" and "Operation of an unlicensed Money Transmitting Business". The real important of the two was the Conspiracy to Commit Money Laundering charge, which has nothing to do with Douglas Jackson carrying suit cases filled with $100 bills into banks in the Cayman Islands. It is failure to do "Know Your Customer" or KYC as it’s known in the financial industry.

Know Your Customer

KYC requires financial institutions including money transmitters to know who their customers are. This can involve simply showing your id when you open an account in the US. Other jurisdictions such as Panama are way more conservative requiring bank references, lawyers references, information about your assets etc. In the US PayPal innovated by inventing that tiny authenticating payment to your bank account, which seems to be enough KYC for single purpose financial institutions such as payments and savings.

KYC since it was introduced in the late 90s as a requirement has been the single most destructive concept for innovation and startups in the financial space. e-gold was the last proud hold out against it as it went so against the principles of their operations. You could pretty much open any amount of accounts that you wanted to without any real documentation.

E-Golds innovation in Governance

Where e-gold truly innovated was their governance model. This is also what makes it so difficult to add a PayPal like KYC step to their technology. e-gold is built up of several different legal structures who are independent.

Gold and Silver Reserve Inc (G&SR) is the parent company of it all and run by Douglas Jackson. In 1999 they did a major restructuring, which is outlined in their e-gold Account User Agreement

The e-gold Ltd a company registered in Nevis in the Caribbean operated the book entry system. The book entry system is basically the servers containing the accounts and transactions. This is what you see when you go to the e-gold site. This site also has an innovative examiner tool as seen in the screen shots above and below:

The e-gold Bullion Reserve Special Purpose Trust is a little understood but very important part as they actually hold the title to the gold on behalf of account holders.

After that there are the 3 different gold repositories Brinks, Transguard and MAT Securitas Express AG who hold physical bars of gold in London, Zurich and Dubai.

OmniPay is the primary "exchange provider" or interface between the e-gold system and the outside world. This was/is operated directly by G&SR out of their offices in Melbourne, FL. If you wanted to buy or sell large amounts of e-gold you essentially wire them the funds and they provided you with gold in your e-gold account. From what I understand OmniPay was pretty thorough doing KYC.

Transparency and real time auditing by users

Since very early days. Probably earlier than 1998 e-gold has offered several levels of transparency that are still unheard of. When I was working in the payment space myself I liked to look at these as "live audit" tools as normal users can keep an eye on the system.

The most important tool is the e-gold Examiner which presents a live view of the accounts of the entire e-gold system. Many of the screenshots in this article come from the examiner. You can see how much Gold, Silver, Platinum and Palladium is held (the assets) and how much is in circulation or held by users (the liabilities).

Scrolling further down you can see how much is held at each repository. You can further drill down on these to see information about the exact bars held at each repository. This info includes the Brand, serial number, purity and exact weight of each. All of this information is verified annually by the auditors report.

Another interesting audit feature is the e-gold system statistics page. This contains interesting live statistics of the accounts and transactions held. As you can see there is still quite a lot of activity going on, however the amount of spends (transactions in e-gold speak) has gone down.

Account Holders

There are finally two other parties to the whole structure, the individual account holders and the independent exchange agents.

A key difference between e-gold and a bank is that as an account holder you actually own the gold in your account. When you deposit money in a bank account you strictly speaking don’t own it anymore. You lend it the bank. For this the bank pays you interest. This leads to the risks that we’re seeing again now when banks go bust depositors lose money. There are various band-aids such as FDIC to insure against this, however it is not perfect. Douglas Jackson could never touch your gold, reinvest it, sell it or otherwise.

In e-gold all transfers are final, which is one reason it became popular originally as an alternative to PayPal. The only way this can be done is by being at more than arms length distance from the banking system. The US banking system allow charge backs of just about any payment. So lets say you receive a wire of $100,000 from an investor. AFAIK theoretically speaking he could cancel that wire within a year. Foreign banks are normally the ones who are hurt most by this, but they grin and bear it. In e-gold one such chargeback could undermine the stability of the system.

Independent Exchange Agents

The Independent Exchange Agents was a very innovative idea that e-gold thought up as part of their reorg in 1999 to achieve this seperation of concerns. OmniPay would focus on large exchanges with established known players, but small independent local exchange providers would exchange between local currency and e-gold. Jackson and co decided from the beginning not to certify or regulate this, but rather let the market work it all out. This was extremely innovative, but might in the end have been one of the downfalls of the system. Theoretically this pushes legal compliance in each jurisdiction out to these exchange agents, but many of these were not following their local rules.

IceGold was an example of a really well run Exchange Agent run by Paul Vahur out of Estonia. Paul and his team would let you buy and sell e-gold at 2% below or above respectively of the official e-gold spot rate. Unfortunately a notice on his site says that they have been hit by the dreaded KYC as well:

‘Due to the adoption of Estonia’s new Anti Money-laundering Law on Jan 28th 2008 we have decided to stop providing exchange services. The new law requires exchangers of alternative payment systems – such as IceGold – to identify all customers face to face.’

Besides good guys like Paul, there were lots of instances with fraudulent exchangers. Several industry associations such as GDCA were set up to certify exchangers, but a quick google search shows me that there are still many around that don’t exactly ooze trust. That said the Gold Pages Electronic Currency Directory still has 154 exchangers listed.

It also led to the development of a whole series of "Autoexchangers" which let you exchange e-gold automatically for other electronic currencies such as WebMoney. In his blog post Doug knowing well that he can’t force them to stop yet pleads:


‘We are requesting that autoexchangers – even though the technical beauty of the autoexchanger concept is sublime – cease supporting exchanges to or from e-gold for the time being. The problem with the autoexchanger concept is that although the autoexchangers themselves may be perfectly compliant with requirements [promulgated by Webmoney and e-gold] to automatically put tracking data in their memo fields, and despite the fact that Webmoney is also committed to aiding in the suppression of cybercrime, the fact is that a substantial proportion of the cybercriminals that abuse e-gold have evolved into a modus operandi that involves autoexchanging possible proceeds of crime into Webmoney, sometimes within minutes of receiving the value, thus making interdiction a matter of catch-up or closing the barn door after the horse is gone.’



Good Innovation

In the end the freedom that the lack of KYC and knowing that all transfers are final encouraged lots of innovation. People built special purpose currencies on top of e-gold. An online Casino created a series of bonds as an experiment that paid back depending on how many hands were plaid during the lifetime of the series of bond. Lots of small merchants as well as sites like Get a Freelancer accept e-gold due to both perceived and real pain accepting PayPal or Credit Cards.

Bad Innovation

All of this freedom also fit great with a less nice but highly profitable set of scams known as High Yield Investment Programs or HYIP’s as well as other Ponzi like scams. These programs often claim to pay %100 interest over a period of a few weeks. There are 1000’s of them out there and many of the use e-gold. E-gold was perfect. The two aspects that encouraged innovation lack of KYC and lack of charge backs made it easy for scammers to rob money from financially uneducated people.

The e-gold mailing lists were filled with people analyzing the E-Gold Stats page for any variations. Often they noticed large increases in a certain transaction size and you could guess that another popular HYIP was making the rounds.

All though e-gold claims that they have helped law enforcement bring hundreds of criminals to justice there are thousands more small and large crooks that have slipped through the cracks and this is likely why the US Justice Department started this case.

However following that do you need to charge the Federal Reserve Chairman for conspiracy to money laundering just because US currency notes are one of the most common instruments of payment used in criminal acts. Or if you look at e-gold as a merely a web service intermediary should Sergey and Larry also face personal criminal charges because lots of Ads for scams and illegal products are placed using Adwords?

Personally I am against the case but I find it was pretty much inevitable. To create such as system even partially on US territory is pretty much impossible. While the key aspects such as the trust and gold holdings being held outside the US as long as you have one toe in the US you are an easy target.

I was personally involved in creating an alternative currency system in Panama and I really wouldn’t even recommend doing anything like e-gold in most of the traditional offshore jurisdictions such as Panama or Cayman Islands as they have way more difficult KYC requirements now than US and EU jurisdictions. The best bet is for you to do it within a major jurisdiction and follow the regulatory pain.

Alternatives

Several alternatives exist to e-gold:

Webmoney is probably one of the safest bets right now outside the US as they being in Russia are unlikely to bow to pressure from the US and EU. The downside of this of course is the image of anything todo with money and Russia. I don’t known anything about them really except they’ve been around for a long time and seem stable. They also seem to have figured out a way to create trust in a very low trust society such as Russia.

GoldMoney is another good alternative to e-gold. They are gold based and have the same no charge back policy. There are many, many similarities between them and e-gold. However being pragmatic they instituted strong KYC practices early on and AFAIK don’t allow independent exchange providers. You have to go through certain certified exchange agents.

They are regulated by the Jersey Financial Services Commision which probably means they are safe in EU. Their principals are in the US, so they could theoretically be hit by the "Operation of an unlicensed Money Transmitting Business" charge. However PayPal was hit by this and are still in business. I think as long as they are strict with KYC they will remain in businesses. This strictness though has meant that not quite as much innovation has been going on with GoldMoney as with e-gold. Granted far fewer scams have been perpetrated with GoldMoney as well.

PayPal is still around and is still the number one player in p2p and small business electronic payments (I think). Several interesting applications have been built on PayPal. That said lots of small businesses have had their businesses destroyed due to over reliance on them. Just google PayPal sucks for examples.

The interesting new player for startups wishing to innovate in e-commerce applications is Amazon’s Flexible Payment System which opens up all kinds of interesting applications. It is very similar to the payment system I was working on in Panama. I am personally very interested in trying it out and will report back in the future on this.

Amazon has built up solid knowledge of seemingly half the world so KYC is way easier for them than for just about anyone else. This doubled with their operational experience in handling their own internal payments can only bode well for them in the future. Due to the interlinking with the traditional financial system charge backs are almost certainly still a problem, but they do have various interesting features for managing this risk.

An even more interesting new trend is that many FaceBook Applications are now financing themselves with their own virtual currencies. They sell currency units and/or allow people to earn them. Then they sell virtual products such as virtual flowers to their users. It will be interesting to see how this moves on and if some of them eventually will get hit by overzealous regulators.

The Legacy of e-gold

The innovations in governance that e-gold spear headed made e-gold a trusted system. It is still operational today, except that you can’t create new accounts. Doug has done all kinds of bad moves in the past such as when he sued my old pal Ian Grigg and another friend of mine Charlie Evans in 2001. I was present at the EFCE conference in Edinburgh when they were both served. Doug and G&SR lost the case.

It is pretty interesting thought that even after this and other stupid moves by Douglas Jackson, people still had trust in the system. It will be interesting to see what happens in the e-gold economy in the coming months while they build KYC into the system.

Lessons for startups in 2008

Lessons that web startups can learn from this are i think in particular about governance and transparency. If people are relying on your service you need a user agreement that protects your users against you. Real time public statistics can also go a long way in providing transparency and trust in your system. It might even make it easier for you to get investors.

I wrote about e-gold earlier in How Doug took on the US Dollar. I should probably disclose that I have met Doug and several other people from the team during a visit to their offices in Melbourne, FL in 1999. I currently have probably less than a grams worth of e-gold in my account with a very low account number. I haven’t logged in to it in years.

by Pelle Braendgaard

http://stakeventures.com/