17 August 2006

Top Ten Reasons to Love Digital Gold

Here are my top ten reasons to love digital gold.

10. Digital gold is hated by the banking cartel, who fear anything that is not fiat money. Bankers live by scamming everyone else with fractional reserve fraud, deposit insurance fraud, and fiat money inflation.

09. Digital gold is a good store of value. Money in a bank account isn't, and lately, money in the stock market has been very poor by comparison. See my performance analysis of silver and gold at http://indomitus.net/goldperf.html

08. Digital gold is money. Several billion dollars worth of digital gold changed hands in 2004. We think about three to five billion. See our report at http://indomitus.net/2004status.html for details. In 2005, we think about ten to fifteen billion. Increasingly private, digital gold currency companies don't all release complete figures on spend data.

07. Digital gold is worldwide. You can name a country, I can name people there who use digital gold, or find them on various directories quickly. Give me a hard one, and I may have to use three or four degrees of contact to reach someone who knows someone there.

06. Digital gold is a new way to work with an ancient tool. For about the last eight thousand years, as archaelogists account for time, people have been using gold and silver. For the last ten years, thanks to Doug Jackson and others, gold has been available in digital warehouse receipt form. The gold is stored in London, Zurich, Dubai, or Perth. Audits are available to validate the gold is where it should be. Digital gold receipts are generated and move around the world at the speed of the Internet.

05. Digital gold enhances your privacy. Online gold currencies have servers which store data in Indiana, Florida, Switzerland, Singapore, the Channel Isle of Jersey, New Zealand, Hong Kong, and elsewhere. Depending on where you are, your privacy is enhanced by having data about your transactions stored where you aren't. Privacy is like a warm blanket. It keeps out cold oppressive cruelty. Like a blanket, it may be penetrated, or ripped away, so privacy is not your only defense.

04. Digital gold is free from government price fixing schemes. The free market sets the price of gold worldwide. If you contract in dollars, euros, or pounds, you are allowing a government's monetary, fiscal, foreign, and trade policies to set the value of that currency. The value of the contract should reflect a free market standard for value, such as gold or silver. Relying upon government for drainage services in New Orleans, for effective military intelligence in Baghdad, or for currency valuation policies has proven, over the years, to be a poor choice. People in the Weimar Republic of Germany in 1923, in Yugoslavia in 1994, and in other places at various times have suffered from enormous hyperinflation - as much as five quadrillion percent per year. Don't let that happen to you.

03. Digital gold is useful. Tens of thousands of merchants in dozens of countries accept digital gold and silver for purchases. You may be able to find a proxy service to accept your digital gold at shops where it isn't accepted directly.

02. Digital gold payments are immediate. Have you ever sent a bank wire for $200,000 across the ocean, only to find that the receiving bank had set the availability date to next week? Digital gold transfers are immediate. So, you can rely upon them. When bankers let you down, look to digital gold. Not only is it faster, the people who use it are among the most considerate, thoughtful, and honest people in the world. (Yes, there are fraudsters who use digital gold, but only a tiny fraction of the numbers of fraudsters who use national currencies.)

01. Digital gold payments are irrevocable. When your online store gets paid in digital gold, it takes a court order to reverse the payment. Reversals do happen, but they are handled by due process of law, not by the whimsy of some credit card company. If you've ever challenged a credit card payment reversal because someone got valuable products and services from you and then decided not to ever pay for them, you know how important this feature would be.

Here's a note about a group "list" writing project.




Blogger Mama Duck said...

Interesting, definitely helped me learn more about this currency! Our list is up if you’d like to look… have a great day!

18/8/06 06:26  
Anonymous Anonymous said...

hi! Thank u ver much for this insight! i am just 22 years old butsince i have discovered the "free market money" and studied alot of libertarian stuff i am hooked on it..

I will watch ur blog the next month!

and always remember..there are alot of people who thin the same as u! u are never alone!

Aidan Pryde

Good Luck!

20/8/06 19:27  
Anonymous Anonymous said...

sorry for the typos...my laptop doesnt wor properly ;(

20/8/06 19:28  

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