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FIB - Scams 101 - Ye Olde Archives
Posted By: Dave Mauder (eDave) <dave@NOSPAMmauder.com> In Response To: Re: Daily Dose of Sarcasm - DXgold until the market for Pixie Dust Explodes !!! (Mike Jolley)
Saturday, 18 June 2005, at 6:27 a.m.
> I did a little looking around, and I can't find anything about the actual
> economics of this stuff. How is this different than a commodities market?
> Something seems fishy, because I'm pretty sure the price of gold doesn't
> double in a month.
The way DXGold makes money has nothing to do with gold really. I guess that's why their name isn't "DXGold" so I should probably stop referring to it as such. DXGold is just the name of the currency, or accounting value, held in a DXInOne account.
The income paid to portfolio investors is from the business DXInOne (GDT) transacts day to day. Similar to foreign currencies, if you want to change one into another, you have to pay a fee for doing so. DXInOne uses our money to perform ecurrency exchanges, charges fees for doing so, and pays us a piece of the pie for doing so. Some people also choose to be DX merchants themselves, and perform some of these exchanges themselves directly, via the DXSystem using their own funds.
Obviously, ecurrency exchanges are in big demand and quite lucrative. When you invest in a portfolio, you purchase digots which are "shares" in the business being conducted in various US states and/or other countries. Some digots perform better than others based on the amount of business done in those areas.
It's really quite simple, and makes perfect sense to me, so I don't understand why so many people freak out about this being a scam. I mean, most people invest their money with a bank. The bank uses your money to transact other business whereby they earn percentage X and pay you back percentage Y for the use of your funds. I don't hear anyone yelling SCAM about that! It's called Other Peoples Money (OPM) folks, and it's been used for hundreds of years.
Dave
Try Kicking the TV Habit With Me!
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