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FIB - Scams 101 - Ye Olde Archives
Posted By: usbguru <gene@usbguru.com> In Response To: What about DXGold, folks? (Neoripley)
Sunday, 27 March 2005, at 6:17 p.m.
I have many concerns about this system. DXGOLD is supposed to be a
four year old, online
"gold-backed" currency, much like PayPal. This sounds like a useful service,
but has anyone found websites accepting DXGOLD as payment? I can't. How about information on the company behind it?
One website claims that DXGOLD is offshore. DXGOLD's official
website is very quiet about who and where they are-- no phone, no address, no management team, etc
Google has no news on DXGOLD.
Most of the websites that talk about DXGOLD are for people that want to invest in this opportunity. I did find one very sad story where the investor could not get his money transfered out of DXGOLD, and the company would not respond to him.
How can these investors be making money on transfer fees?
Who is buying and selling with this currency right now?
When you become a trader/merchant/dealer in DXGOLD, you convert
into the system, and that makes a little bit of transfer activity.
However, if this is the majority of the transfer activity, then
the business model is really about attracting new people to this business opportunity. There are several names for that!
Also, if you are creating a 21st century currency to compete with the Dollar, Euro, Yen, RMB, and PayPal, why do you need my money? If you have a solid economic model, you will have no problem at all getting million dollar investors. Why are you so interested in my $15?
Finally, many of the sites I found are heavily advocating DXGOLD because there are no chargebacks like you can have with PayPal. There is only one
business model I know of that is so deathly afraid of chargebacks.
I am certain this program is not for me.
MaaMaw, based on your experience, what do you see in DXGOLD?
> I am not even an affiliate for this but I'm still going to say some
> positive things about it.
> FIRSTLY, don't waste your money on Matt Gagnon's course. Go straight to
> this cool site www.dx4dummies.com and take a look. If you have doubts,
> like I did, register with the site (as you would for any forum, like this
> one) and go to the forum. I swear it is one of the friendliest and most
> helpful forums I have been on.
> Please could you give some feedback on what you think? I'm really tempted
> to do this, but would like more unbiased opinion. Everyone on dx4dummies
> forum loves the product - so it's kind of biased.
> But these are all intelligent and genuine people who are not in the
> business of scamming (from what I can tell).
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