An idea...

[٭ Augmenter ٭]

I dunno, I had some dream last night..

I was sitting upon some huge gold vault in some private Bahamanian island, used for storing gold for some worldwide private digital gold currency. It was anonymous, I didn't require anyone to divulge their personal information/ spending habits if they didn't want to. I would have people buy gold with their government's currency or commodities in order to purchase electronic gold for their accounts. I wouldn't charge anything except a 1-2% annual fee for keeping an account. Transactions would either be carried out online or via smartcards that you could use to purchase things in stores.

I don't know, has this been done before? Is it feasible. I thought it would be a very good idea and a profitable one at that, and a good alternative to fiat.

[alby]

I dunno, I had some dream last night..

I was sitting upon some huge gold vault in some private Bahamanian island, used for storing gold for some worldwide private digital gold currency. It was anonymous, I didn't require anyone to divulge their personal information/ spending habits if they didn't want to. I would have people buy gold with their government's currency or commodities in order to purchase electronic gold for their accounts. I wouldn't charge anything except a 1-2% annual fee for keeping an account. Transactions would either be carried out online or via smartcards that you could use to purchase things in stores.

I don't know, has this been done before? Is it feasible. I thought it would be a very good idea and a profitable one at that, and a good alternative to fiat.




Yes, its been done. And no, you'll never get away with it if you are a US Citizen. Else you'll end up like Dr. Douglas Jackson and in violation of 18 USC 1960 [Operation of an unlicensed Money Transmitting Business].

http://blog.e-gold.com/2008/07/index.html