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FIB - Scams 101 - Ye Olde Archives
Posted By: D. In Response To: eCurrency Trading (Dave)
Sunday, 30 January 2005, at 3:51 a.m.
> I have been looking at this eCurrency trading for a bit, and I really
> appreciate the comments on this forum about it. Although I havent tried it
> myself, I think it currently works as a giant Ponzi scheme (like Social
> Security), which is used to make dxGold have value.
> Because people decide they want to earn "big money", they buy
> dxGold. This makes dxGold inherently valuable because they are willing to
> spend "real" money for it. dxGold skims off fees and uses some
> of them to reward the active "players". As long as more and more
> people get in to this, the value of dxGold will stay high. At some point
> there will not be enough new money and those that have dxGold will find
> that no one will exchange it for real money and the whole thing collapses.
> It is possible that dxGold did this to create demand for their currency so
> that it could eventually be used for buying things, but maybe not.
> Any comments?
My experience with DXG is short but as skeptical as I was at the beginning, the first few transactions put my worries to rest. From my reading upon reading on this, I came to understand that this is NOTHING like a ponzi scheme. I think DXG will become a household name so to speak for online business that perhaps now might use PayPal, etc. (DXG is much more secure as there are no chargebacks on accounts due to users' portfolios attached to the accounts, stealing funds from other users wouldn't make much sense when you think about it). There are some big businesses out there depending on DXG 24/7 and it's not like some 'big players' getting rewarded only because of the big bucks they shell out until they split...I don't think so. Getting new people as a source of income has really nothing to do with this but it does help as more people = more funds available on the network (always flowing in and out...never lost) and that only means faster transaction times. From the outside, it doesn't really look like much and for a reason. I found it's a somewhat steep learning curve but I think well worth it. That's my opinion on it, hope it helps a bit. Drop me a line if you wish doorway2delta@hotmail.com :)
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