Well, they seem to continue to be moving in the right direction to once again be the leading e-currency provider. They plan to implement CIP or Customer identification Program so where users of egold need to upload their official document to verify their name and address.
While this would be a step forward for them, I don't believe it will relive their glory days of HYIP. Because HYIP would want them to be and remain anonymous.
Liberty Reserve and AlterGold has already taken the lead to be the leading e-currency for HYIP. And they don't even implement CIP....
Well... which e-currency is moving on the right direction, I don't forsee it to be a hot e-currency as it use to be. eGold will need to rebrand themselves and probabily be competing with Paypal or other payment processor.
Then again who knows... I am just waiting patiently for eGold to get back to it glory days and the demand for eGold continue to improve. So that my eGold value will not just fade away.....
eGold seems to be moving towards a positive direction.
They are slowly putting into place what they have promised they would do to improve the credibility of eGold currencies. They have since recently (19 Sept 2008) enhance their Customer Identification Program and also working with KPMG (One of the Big Four Firms) to improve on their Anti Money Laundering Program.
I guess there are still a lot of work to do on eGold's behalf.
Now these are great news, especially for me as I am still holding some eGold in my account. This could be a risky opportunity as I mention before but it seems like exchangers seems to have gloomier news than I have currently and they don't seem to want to share it.
I am concluding this because because exchangers seem to be lowering their selling price for eGold... It makes no sense... with this official news from eGold I would assume that price for eGold would maintained on the 'wait and see' stance.
So either it is a good opportunity or these exchangers have much more bad news about eGold then I know... or it could just be a simple demand and supply for this currency...
Well, while I wait for the eGold situation to improve itself, I will now start moving some of my articles away and dedicate this site to solely HYIP.
Over the past few months I have been mixing, gambling, forex and also internet into this site. But since becoming a domainer March 08 this year, I have already bought quite a few domains which I would like to develop it properly...
So some of you will see some main articles missing like my roulette system review, forex and also my internet escapade entry. I will be slowly moving it to my other domains, but I was thinking of linking in back here to my site via RSS..
I thought of reviewing and updating my performance sheet but thought I would put on hold... It really sucks seeing how I do not actually make any profit because of the exchange rate from eGold to my local currency.
So screw it... I shall take that page down for the time being...
Or maybe not, I guess it should be a reminder of how crazy HYIP is...
Contemplating on whether I should start funding the new AlterGold account, which seems to be the spreading like wild fire in HYIP... Shit!! That means dumping more money into HYIP!!
I just got reality to hit me hard, because of all this many exchangers have stopped making out exchange for egolds and those who would be doing that exchange are offering crazy crazy rates, like 90% to 95% service fee.
Damn!! Now my egold is stuck and the value of my egold is almost close to nothing...
And I thought I was happy and proud that I manage to come out in profit when I restarted playing my HYIP escapade.
This sucks... and it really sucks bad.
Nevertheless, I believe there should be an opportunity somewhere in this situation. As an old Chinese saying goes, 'With crisis comes both danger and opportunity'.
This is Chinese Character for Crisis, and each means danger and crisis.
WIth egold in crisis at the moment, there is a danger in losing ones value of gold, but on the other hand there also should be opportunity that exist in this situation.
Having known what the danger is, which is losing the value of my account, I also thought if there were any opportunity that might come out of this situation with egold.
Now it has been said that, eGold will revamp their policies to be in line with rules and regulations set to deter money-laundering ,child pornography and all the other vices which has eGold got stucked with all these years of operation.
So they set a deadline to complete the policies reforms by November 2008 which hopefully carries some weight in the sentencing of the three directors who pleaded guilty. (Their sentencing would be on the 20 November 2008)
With that in mind, I believe eGold should get itself back on track in the next few months and hopefully by then the price would be stable and improve once again.
Now I have notice that there are some people or rather exchangers who would not mind holding on to eGold, before firstly it has already been backed by gold, without a doubt even though, the founder and it's directors are or will be in jail, life SHOULD go on with egold no?
I mean, the gold that we are suppose to have in forms of digital currency just can't disappear right?? Unless, some fucked up government will confiscate it and take it for themselves. Or if egold currency was never backed up with gold.
Anyway, according to Douglas Jackson, the gold reserve are stored in Europe so the US gomen might not be able to touch it.
So, it is HIGHLY LIKELY that eGold would stablize itself and so will the price or exchange rates provided by the eCurrency exchanger.
With that in mind, I believe it will be an opportunity to start accumulating slowly some more eGold and then hope to sell it come end of the year when price would be good.
Well... here is my forex performance as of June 08. Slowly but surely.....
Forex Performance till June 08
I fumble with my liteforex account with another new Forex EA. Forex EA Tracer (http://www.forextracer.com/).... *Please do not get this EA* You can't control the lot size, and the backtesting result was not that impressive. Lost f*@king 30bucks on two lousy trade.... Well, it's small money.... and I got my refund from Clickbank... Seriously not worth the time and effort.
But hey... I guess you can try
Sighh.... Oh well... at least my Interbank and Masterforex recorded profits....
This is Chinese Character for Crisis, and each means danger and crisis. 