“HYIPs have doomed us all”….is the quote from the e-gold list. The digital currency HYIP ponzi schemes are causing grief for legitimate e-gold users. Today Google has taken the bold step to prevent any future Adwords advertising which includes e-gold.

This is the e-mail letter from Google today.

Dear AdWords Advertiser,

We are writing to inform you of a change to Google’s advertising policies that may affect your AdWords account.

In the coming weeks, we will no longer accept AdWords ads that promote e-gold.

Ads and websites are also not accepted for related content which includes, but is not limited to, e-gold exchange, e-gold investment, and e-gold accounts.

When we make this change, Google will suspend all ads identified as being in violation of this policy. If your account is affected by this policy change, please remove any e-gold content from your ad text and website. Current e-gold advertisers are encouraged to instead advertise other products or services that comply with our policies.

As a business, Google must make decisions regarding the advertising that we accept. We apologize for any inconvenience this policy change may cause you.

Sincerely,

The Google AdWords Team

** As noted in our advertising Terms and Conditions, Google may refuse any ads or terminate ad campaigns at any time, for any reason. Please note that the decisions we make concerning advertising in no way affect the search results we deliver. Google offers broad access to content across the web without censoring search results.

——–

e-gold is in my opinion one of the most exciting creations ever thought up for online commerce. I’m sorry to see it getting pulled down by these HYIP crooks. Its about time for a big policy change at e-gold I think. Let’s see some positive mainstream changes so we can all continue to use your great invention for legitimate business. I’ve written about this issue several times before:

HYIP/e-gold ‘Ads by Google’ Facilitate Online Investment Scams

Unlicensed Internet Financial Services?

*as copied from the e-gold list. Thanks to Amr for posting it.

Loom Gold, which is on the leading edge of the digital currency industry, today announced version 54 of the server code. This new version supports a personal history & memo feature on asset movements. Loom users can toggle the “record” option and that folder will keep a history of each time a ‘Give’ or ‘Take’ operation occurs.

This is a very handy feature but not a required item. If you would like to operate without recording a history simply un-check that option.

Another handy new feature allows users the ability to attach a memo by clicking the green dot next to the history item. You can then edit the memo at any time or even clear it completely. The ‘green dot’ also gives you the ability to Delete the history item altogether.

The Loom Software is on the cutting edge of Internet commerce and I write about it often. For more information please see any of these previous posts

• Patrick Chkoreff’s Loom Gold Q & A Plus The New Tutorial Video
• A Brief Loom Instructional
• The Loom Model: The New Generation Of Digital Value Transfer
• Loom Gold: Beyond Digital Currency

One of our readers, Jon Matonis, brought this to my attention and it is a truly advanced and fascinating piece of writing on digital cash.

Perhaps the most interesting twist to this work is the fact that he wrote it 12 years ago….Jon authored this piece way back in 1995. At the time he was working with VISA International and the plan was presented to them. Jon has given me permission to reprint some of the material which can from the Libertarian Alliance web site. His 12 year old ideas and concepts still rings true today.

DIGITAL CASH AND MONETARY FREEDOM
JON W. MATONIS

This paper describes the differences between mere encrypted credit card schemes and true digital cash, which presents a revolutionary opportunity to transform payments. The nine key elements of an electronic, digital cash are outlined and a tenth element is proposed which would embody digital cash with a non- political unit of value.

Key Elements of a Private Digital Cash System

As would-be currency providers should note, there are ten key elements to a successful, private digital cash system. This section compares and contrasts true digital cash to paper cash as we know it today. Each of the following key elements of a digital cash “token” will be defined and explored within the bounds of electronic commerce. I have yet to discover a working digital cash system which meets all ten criteria although several are reportedly close. In 1991, Tatsuaki Okamoto and Kazuo Ohta proposed six properties of an ideal digital cash,5 which are incorporated into elements one through six below:

1 Secure. The transaction protocol must ensure that a high level security is maintained through sophisticated encryption techniques. 6 For instance, Alice should be able to pass digital cash to Bob without either of them, or others, able to alter or reproduce the electronic token.

2 Anonymous. Anonymity assures the privacy of a transaction on multiple levels. Beyond encryption, this optional untraceability feature of digital cash promises to be one of the major points of competition as well as controversy between the various providers.7 Transactional privacy will also be at the heart of the government’s attack on digital cash because it is that feature which will most likely render current legal tender irrelevant.8 Both Alice and Bob should have the option to remain anonymous in relation to the payment. Furthermore, at the second level, they should have the option to remain completely invisible to the mere existence of a payment on their behalf.

8 Portable. The security and use of the digital cash is not dependent on any physical location. The cash can be transferred through computer networks and off the computer network into other storage devices, Alice and Bob should be able to walk away with their digital cash and transport it for use within alternative delivery systems, including non-computer-network delivery channels. Digital wealth should not be restricted to a unique, proprietary computer network.

Read more