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FIB - Scams 101 - Ye Olde Archives
Posted By: fxnick
Wednesday, 20 April 2005, at 12:46 p.m.
> I just found out a friend of mine is involved in currency exchanging but
> when I asked him questions he was unable to clearly explain it to me. Can
> someone explain in laymans terms what currency exchanging is and what does
> it involve? He mentioned a company called DX Gold and I tried to do an
> internet search on the company to find its location and history but came
> up short. Where can I find info about DX Gold and where exactly is this
> company located? Thanks for any help.
Currency exchanging is different from e-currency exchanging.
I'm sure you know what currency exchanging is, from it's simplest form, like going to a foreign country, to an industrial scale exchange of currency that typically banks, international business's and investors utilize, which is called FOREX.
e-currency is typically based around gold prices and is named as the electronic currency of the future. It's intended use is to avoid the penalties of hard currency exchanges by being global in it's exchange rate. www.e-gold.com also www.int-gold.com
My prediction is e-currencies will become commonplace on the internet just like paypal has, expect to start seeing e-gold and such, as methods of payment on merchant websites.
DX Gold is a beauruea(sp?) de change of e-currencies. Essentially you put in your money into two or more types of e-currency and anytime anyone wants to exchange one of the currencies you own to another you own, you earn a brokers fee.
DX gold has yet to go live, 1st May I believe, wether it's a scam or not I am not qualified to say.
However I will be doing a test invest on the system as soon as they let me, and will happily post my results on the net.
This is a very basic answer, and I do not assume to know everything about DX gold or e-currency exchange.
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