In the light of recent developments in the digital gold market, with companies like e gold being indicted and the  US government taking a hardline against some of them because of moneylaundering and unregulated illegal practices going unchecked, what do you think the future of these alternative currencies or digital currencies are ?

Can the US govt and others force them out of business as some believe?

We value your opinion here on www.digitalmoneyworld.com and both Mark and Benson have written here on digital gold extensively in the past.

DGC Magazine Blog

http://www.dgcmagazine.com/blog/index.php

• 
• Author: Mark Herpel
• Listed in: Finance Innovation
• Tags: gold e-gold e-bullion pecunix e-currency digital gold currency

So what do you think about this issue? Please let us know.

Comment below

Moneypenny

Last week I asked you to design the online payment system called edream you wanted as Here on www.digitalmoneyworld we regularly hear readers complaining about the services ( or lack of them) offered by e payments companies like moneybookers, paypal, e gold, loom, and the rest. In response, Sean over at franchise pick; a blog I never tire of reading, responded with a killah post not to be missed, with his usual wit and humour.

http://www.franchisepick.com/franchisepickcom-announces-esean-payment-processing-system/

So here’s the question, if you were to design the e payments system that you want and need, what would it look like?

What services would it offer that you are missing now?

How would you improve on existing options offered to customers?

What limitations that you presently have to endure would you do away with and what would you replace them with?

Lets call it e dream

The prize? a deposit of seed money into your a paypal account in your name to start your new business. Yes you heard right! seed money into your own account.

Now rumour has it that Sean is pretty confident of winning this are you going to let him? So send yours in today guys, your best ideas for a payment system.

The prize will be awarded at the end of July. get yours in!

So write to Moneypenny under comments below and let’s have your e dream e payments blueprint. The best one will be voted on and will win a prize of seed money into a paypal account!

Moneypenny

I blogged yesterday about the those that have written into me about a fake moneybookers scam.

http://www.bizzia.com/adding-value/

Adding value read this and comment on it if you have suggestions.

These people were scammed because they received an email identical to the moneybookers one and took it as the original, it was actually a faked page which looked identical.

Today I want to talk about online security with moneybookers, pay pal and others.

What should you expect to receive from them?

Rule number one

Any mail you get, first check the address it came from, that’s the first clue. Mark spam as spam and delete it out of your spam folder daily.

Rule number 2

Never click on a link, but rather type the address www.paypal.com or moneybookers.com straight into your browser window. Then you can’t be misdirected. Check the page you are logging into it should look right, dont rush. Never update your details on a form you’re not certain about. These scams continue because people fail to to do this, they know they will catch someone.

Rule number 3

If you don’t have a bank account with that bank or payment company, don’t open the mail. You don’t get an account by accident.

Follow these simple rules everytime and scams will suffer, not you.

Care to comment? share this with everyone you know.

Be safe online, Moneypenny

This is a kind of unofficial poll to find out which online payment company is rated best.

These are the criteria:

1. ease of use, functionality and options.

2. service level, charges/cost and market share.

3. security, support and reliability.

4. ethical, regulated and financially sound company.

So which online payment company does these best for you.

Leave a comment and tell us your experience for the benefit of our readers.

Moneypenny

I remember as an investment broker not so long ago, my clients and peers talking about ethical investments. Exercising your ethical choice in investments was becoming mainstream and even clients were talking about it.

Contrast this with the Elliot Spitzer case recently. He didn’t seem to care that prostitution and the crimes always linked with it, where being funded by him. He possibly said - I’m O.k. I’m not hurting anyone.

The IRS’s Criminal Investigation Division then started a probe, initially fearing that Spitzer was the victim of either extortion or identity theft.

Screenshot of the website of Emperors Club VIP showing list of prices for escort services

Image from wiki

North Fork’s report in July 2007 went largely unnoticed until HSBC in the fall filed a report that the transactions were going to QAT International and QAT Consulting Group, which were offshore shell companies operating as a front for the Emperors Club.

Later the IRS contacted the FBI to investigate possible political corruption. The investigation led Federal authorities to link the money transfers to the Emperors Club.

On November 19, 2007, Republican operative Roger Stone sent a letter to the FBI saying that Spitzer “used the service of high-priced call girls” while in Florida.

Spitzer announced on March 12 that he would resign his post as Governor effective March 17, amid threats of his impeachment by state lawmakers.

So what’s happened to the ethics questions we used to ask, like: Was the company involved in mining practices that affected the environment? Did that company operate sweatshops in cheap-labour countries. Was the company involved in money laundering, pornography, tobacco, alcohol etc?

Whilst some of this talk and campaigning has been replaced by the fair trade movement, which when it works, I do applaud, what has happened to our own ethics?

Do we care how that money we got out of an investment was made?

Did it involve a pyramid scheme or scams where someone was robbed of their hard earned money, or was the money got from trading in guns, drugs or people trafficking? These are the questions banks have to ask in the bigger picture, and perhaps we should be asking them too in the smaller picture of our choices.

What do you think? Who does your research about where to put your money or what to invest in?

Does it matter to you what the e company/gold company/ web money/ company you use invests in or derives its profits from? Give us your view under comments

Moneypenny

Should we be worried about the financial markets? Well I think so. When companies like Lehman Bros lose 50% of their share value for the first time in their very long history, and then start scrabling around trying to raise money on the stock exchange. When major banks are being bailed out by reserve banks. When many shares are in freefall due to the jittery markets, and when the price of oil is just on a drunken rampage full of its own importance and value. When world powers can’t find a workable alternative solution to the oil producing states having their foot on our necks. Yes I think it’s worrying.

This may be why some prefer holding gold, commodities and digital currencies hoping to hedge against the falling dollar value.

June 9, 2008

 Much has been written on www.digitalmoneyworld.com about e gold and the fallout of the investment. HYIPs are still big business on the net and people fall into them because they are lured by the returns. Which are astronomical! Indeed those who have invested, will tell you that they lure people in by giving them these returns in the first few weeks and  by giving them bonuses for referring others. The problem like so many of these schemes, comes when the investor wants to cash out. Although this professes to not be spam or a scam, in my book it is. Firstly someone referred me, although I have never been and will never be a customer.

 Secondly offering a 10% bonus is likely to attract the very people who try a higher gamble to make up their ever increasing losses. Calling this one of the most reliable investment programes is a stretch, if not an outright lie.

Income X Brokers - Celebrating 1-year - special offer. Join us this week and receive 10% additional bonus upon signup* ! # 1 day profit 123% # 3 days profit 130% (daily). http://www.income-x.com With near $100k invested and more than a year on the market we are one of most reliable investment programs. Serving more than 1000 investors around the world. Refer to our site for further information. Deposits are accepted thru E-Gold only. Note : You have received this message because one of our investors placed you on his refferal list. If you believie this is a spam message please contact us immediately. Thank you. So buyer beware.!!! Don’t risk your funds that you can’t afford to loose. Anyone care to tell us your experience with these products? Leave a comment and You could win the “smart alec” of the month award. Moneypenny

Here’s one for  all you gold people.  Just another of the many messages to arrive in my mailbox on a daily basis,

which  make little or no sense.

So the first person who can write in and tell me what this scheme is about or not, will win an all-expenses-paid trip to the moon in 2020. The winner will also be crowned the “smart alec” of the month.

Answers on a postcard.. no rather send me a comment here, as quick as a flash.

Moneypenny

ALLUVAIL GOLD for sale.
To:	jessicabeloved00@yahoo.com

Dear sir

Its with pleasure that I write to inform you of the availability of ALLUVAIL GOLD for sale.

Below are the classification of the goods :

PRODUCT : ALLUVIAL GOLD.

QUANTITY :500 KGS.

QUALITY : +22 KARATS.

PURITY : 92+

PRICE : 30percent below the standard price

TERM OF PAYMENT : NEGOTIABLE.

we do not accept advance payment, the transaction will be done according to the seller and buyers agreement and we expect you to come with your Inspector machines and after checking, the payment will be on bank to bank bases.

If you are interested in the above product please get in touch with me and we will make arrangement on the mode of delivery.

I await to hear from you very soon.

Regards.

Mrs Jessica.

A warm wish to all those on b5media, and of course our readers, remembering the fallen on this Memorial Day 2008. May all those who served and are serving, be remembered. Here’s the link to participate http://www.nationalmemorialdayparade.com   Last week I wrote on web money http://www.bizzia.com/webmoney-online-payments/  and  it seems that every month, there’s a new way to pay on-line. Are these virtual companies using our money held-on-line to trade with? Are they using customers online funds to raise capital to trade with. Ask some finance wizzes or a group of investment bankers, and they will tell you that for the small benefit of giving customers an alternative to using credit cards on line, these payments companies get to hold real money on behalf of the customer, and trade with it? The gold-related payment setups must be doing this. The sites tell you that the gold value is not linked to the current price of gold, but you can bet your bottom dollar, that they care about the fluctuations in the price of the commodity.  A clever scheme, e bullion, and others, convince the public you can create a monetary system outside of the mainstream, and apart from the normal US dollar currency, and they will come. Those who  use them swear by the safety, legality. etc. But the facts behind the incorporation, the location in Delaware, the gold vault stores, all open up many a can of worms. What’s the point of basing the investment on gold, if the investment its not linked to the commodities value? These are the questions I, and others very trained in financial instruments, are asking? Maybe we can because we are not invested and can still see the woods for the trees, or maybe we have just missed something. But I smell a rat, a big rat. Mark Herpel wrote on these gold payment companies like e bullion, a lot, and now writes DGC mag http://www.dgcmagazine.com  So perhaps he would agree to answer some pertinent questions. Are you up for the challenge Mark? Moneypenny

The April issue of  DGC mag featured an article on the growth of the online payment company web money, and since we have been focusing on paypal, moneybookers and others this month, I thought it would be interesting to see how moneyweb shapes up, and what features they offer compared to the others, I covered in my last post.  Do you have a money web account? Write and tell us your experience with them.

 Thankyou to Mark at DGC mag for content and graph. http://www.dgcmagazine.com

Webmoney Shows Huge Growth In 2007

This month Webmoney Transfer announced their 2007 annual numbers and included some additional company information. The digital currency giant, continued to experience tremendous growth through out 2007.

The number of new account registrations in their system passed the 4 million mark during 2007 and looks like it will soon pass the 5 million mark.

In the past year, 1,440,000 million new customers joined the Webmoney system.

The total number of customer transactions (turnover) for the past twelve months exceeded $3.33 Billion US dollars.

They transacted more than 27,000,000 million individual customer payments.

Last but certainly not least, even their mobile service showed excellent growth. Webmoney Keeper Mobile now services almost 170,000 users.

A brand new version of Client application – WM Keeper Classic 3.6.0.1 is now available for download from the their web site. This popular company has experienced dramatic growth each year since their start in 2001.

http://www.wmtransfer.com/