[118140] in Cypherpunks
Re: ecash means anonymous & untraceable
daemon@ATHENA.MIT.EDU (James M. Ray)
Mon Sep 20 17:29:45 1999
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Date: Mon, 20 Sep 1999 17:00:59 -0400
To: cypherpunks@cyberpass.net
From: "James M. Ray" <jray@e-gold.com>
Cc: Digital Bearer Settlement List <dbs@philodox.com>
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Reply-To: "James M. Ray" <jray@e-gold.com>
At 3:59 PM -0400 9/20/99, Declan McCullagh wrote:
>Yes, the original anon poster was hyperventilating, but Jim, though you're
>a swell guy and all, this message leaves me nervous. Both as a journalist
>and as a potential customer.
>
>If you want people to trust an unproven service and company with their
>cash, you have to give them more than just "we'll explain it to you at our
>leisure, not yours, but we want you to trust us right now anyway."
My apologies, then, as that's not how I wanted to come off. We need
time, and for now we don't claim to have explained everything. Doing
it right will take much time. I'll try to do a better job now enumerating
what's known.
DigiGold ISN'T Barry & Doug (in fact, e-gold isn't just them anymore).
It is an offshore entity through and through (though it might employ
US citizens at some point). We've got some clarifying to do about
both DigiGold and e-gold...We'll get around to it Real Soon Now, but
a little more time is needed still as things work out for both.
DigiGold is structured to be very low (but not no) risk. Those who need
the reassurance of 100% backing should stick with e-gold and pay our
(very low) transaction & storage fees.
DigiGold's liabilities will be short-term and easy to turn into e-gold, and
the contracts governing it will be public and easy to see.
We'll indeed much more fully explain at our leisure, so that we get it
right. Presently, folks are free to doubt that DigiGold is backed 100%
by e-gold, even though they can look at its balance themselves by
clicking: http://www.e-gold.com/pub-bal.asp?pubid=101452
I bet the anonymous entity does trust that this is a true balance, and
just wants to keep hyperventilating anyway. I'm sorry to seem testy,
but answering the hyperventilations prevents other useful stuff from
happening, and I'd think that DigiGold is at more of a "we want folks
to examine & play with (not 'trust' as in life-savings) DigiGold now"
stage. I'm sorry if that wasn't clear from my earlier message.
JMR
Regards, James M. Ray <jray@digigold.net> or <jray@e-gold.com>
"By virtue of exchange, one man's prosperity is beneficial to all others."
-- Frederic Bastiat, "Economic Harmonies" p. 82
Create a FREE account: http://jray.QuickGold.net
http://www.e-gold.com/unsecure/pgpkey.htm has my DH PGPkey.
Opinions are my own, unless you paid me for them.
