Talk:Digital gold currency/Archives/2012

Concerning individual systems...
In regards to RasputinAXP's removal of 'e-grams' from the list, I wholeheartedly support that decision. A virtually unknown, brand new system is nowhere close to being noteworthy. We should continue such a policy on this page.

Oh, and thanks you guys, for doing such great work on these pages, especially with expanding the several that I initially wrote :-)

Search 4  Lancer  02:05, 10 May 2006 (UTC)

Well, I disagree (and it certainly was NOT spam!), but can live with it either way. Maybe a few months or a year from now when they are not in "beta testing" mode, we can add them back in. What about Loom -- http://loom.cc? I think they are notable enough for inclusion. After all it just says "The DGCs currently in circulation are:", not qualified by needing a certain number of customers. I think *any* DGC is notable for the purposes of this article simply for existing! Novel-Technology 01:12, 11 May 2006 (UTC)

Gold risk vs foreign currency risk
I'm removing the following sentence
 * These risks however are not much different from having a foreign currency bank account

which talks about risks for the gold price; unlike with the overwhelming majority of today's currencies, there is no institution which attempts to keep the purchasing power of gold relatively stable - when the Euro traded in the $.80 - $.85 range, the European Central bank intervened to prevent it falling further.

I believe this does constitute a significant difference.

RandomP 14:03, 2 June 2006 (UTC)

18 months later I have put a similar line back in. Since 2006 we have seen far wilder fluctuations in national currencies against each other than against precious metals. But the issue isn't a better or worse comparison, it is structural. Holding precious metals (as digital currency or otherwise), commodities, or any foreign currency presents an exchange risk if the holder has obligations in his native currency.Cadwallader (talk) 15:26, 30 April 2008 (UTC)

Mediation
RandomP is currently engaged in Mediation regarding changes to inflation.

Carbonate 06:37, 4 June 2006 (UTC)

WebMoney
WebMoney is not a DGC. Electronic money - yes; digital money backed by gold - no. I deleted the reference from the table of DGC providers. nirvana2013 14:42, 9 February 2007 (UTC)

Exchange Risk & Purchasing Power
I contest 66.133.253.15's edit in which the unsupported claim was added:

"Since gold has historically been the refuge of choice in times of inflation or economic hardship, the purchasing power of gold becomes stronger during times of negative sentiment in the markets. Due to this speculative interference, there are times when purchasing power has also declined. In 2007-2008, gold volatility has closely tracked the recent run-up in oil prices."

Please supply graphs, charts, or other citations that prove your claim. I think your claim is in error because, during times of negative sentiment in the markets gold's purchasing power only increases relative to securities. During bear markets in securities, there are generally bull markets in commodities, so that gold's purchasing power remains relatively stable compared to food, fuel, metals and minerals.

You could easily support your claim by providing a chart of the number of ounces of gold required to buy gold, oil, and wheat over the past 100 years along with a chart of the securities markets.

Here is a reference to an article by Adam Hamilton on the gold/oil ratio which has some charts. While the gold/oil ratio (which shows the purchasing power of gold) has fluctuated as all things do, the fluctuation is not strongly linked to securities markets as you have stated.

For example, from 2000 - 2003 there was a bear market in securities, yet the purchasing power of gold against crude oil fell during that time.

My statement (that you deleted) was that the purchasing power of gold against the basic commodities required to live has remained stable over long periods of time. For the past century the average gold/oil ratio has been 15.2 barrels of crude oil to buy one ounce of gold. The deviation around that average has never been higher than double, or lower than 40% the average. So though there is fluctuation, there is nothing like the exchange risk that one sees with national currencies, like the Argentine Peso, that lost 100% of its value in a short amount of time earlier this decade.

Please revert your change. If it is unattended to I will revert it myself. Thank you. Cadwallader (talk) 19:47, 29 April 2008 (UTC)

IRL vs video games
Please don't insert video game see also-links on top of the article. The two are no more relevant to one another than plumbing is to Super Mario. No one searching for information about gold coins in games is going to look for it in "digital gold currency". Any confusion between the two is easily dealt with by (quite obviously) reading the first sentence of the lead, not by addiung cruft links.

Peter Isotalo 05:58, 7 August 2008 (UTC)

We need to be careful about this article reading like ad copy for the private gold companies
I just made a couple small changes. Given that there have been multiple scam gold currency companies, and the ones that appear to be legit have some very zealous promoters and defenders, there will always be a risk that this article will morph into ad copy. I think it would be useful if anyone who works for these companies or has investments with them disclose this when they make their edits. —Preceding unsigned comment added by 68.101.147.249 (talk) 19:33, 9 April 2009 (UTC)

Article needs substantial citations
The article needs a large amount of material to be sourced with verifiable citations. For example, the Providers section has zero citations, despite being fact-tagged since May. It seems a potentially useful table, that some editor obviously worked on diligently. But without citations I will begin deleting uncited material the next time I happen upon this article. N2e (talk) 02:42, 2 October 2009 (UTC)

Based in which Nations?
In Digital_gold_currency, could someone who's in the know please add a column for what nation each company has its HQ in, and what nation(s) (or at least the primary nations) where it stores its gold? (examples of why: Some nations [e.g. Singapore] are better-regulated than other nations. Or "I no longer locate my assets on US soil because I renounced citizenship as a multi-millionaire & thus may be barred from re-entering the US as 'revenge' against me since I pledged allegiance to another nation & allow them to tax me instead; I don't hold my assets in a nation that treats me as though I'm an enemy or the same as they treat terrorists on the "no fly" list, and as the US economy worsens I fear outright confiscation by the Democrats who legislated that 'exit tax' which I already paid, because in all the years since passports existed, only Cuba & East Germany have had more totalitarian 'Republikflucht' [flight from a Republic] laws"; or OTOH, "I live in the US/EU and would prefer a company that operates under laws familiar to me".)

P.S. The article has 2 whole sections that would balance any pro-gold POV (and is more balanced than the average WP article I've read), so I don't see why this article has such a tag on it, unless it used to be POV but someone has edited it since then? — Preceding unsigned comment added by 24.155.23.75 (talk) 23:36, 25 August 2011 (UTC)

GoldMoney
DGC Magazine story on GoldMoney pulling out of DGC business: http://www.dgcmagazine.com/blog/index.php/2011/12/21/goldmoney-pulls-out-closes-payments-part-of-business/

Should be in there with e-gold and e-bullion. — Preceding unsigned comment added by 85.51.1.57 (talk) 10:52, 22 December 2011 (UTC)

In December 2011 GoldMoney announced that from the 21st of January 2012 it would suspend its DGC, which allowed its over 21.000 users to make P2P payments in gold and silver. The company cited regulation and lack of interest.

http://www.goldmoney.com/online-payments.html