Thoughts about e-gold?

Avinash · 08-28-2006, 02:19 PM

Friends!

I am stucked somewhere on the Internet. Today, I was reading about this e-gold system on Wikipedia. I found that +70% fraudsters use e-gold as their payment processor.

Could you please suggest me if e-gold's bad reputation is gonna affect my business if I use it as my additional payment processor?

Note: I am already PayPal verified and using Moneybookers as well. My default payment processer is 2CO.

Will it affect my business IF I use e-gold as the default payment processor on one of my sites?

Please suggest me!

Thanks!

BinkyMelnik · 08-28-2006, 03:05 PM

Avinash:

Quote:

Could you please suggest me if e-gold's bad reputation is gonna affect my business if I use it as my additional payment processor?

You mentioned you're already using Moneybookers, which is the preferred payment method for porn and gambling sites, so what harm can adding eGold do?

:-\

But seriously, eGold gets hacked all the time, and since no one using it hasta prove who he is, it's *poifekt* for scammers and people doing uncool things.

Using PayPal sends a message that you're serious, that you're not a fly-by-night operation, and that you haven't had your PayPal account pulled for misbehavior. There's no need to sully your reputation by using less-than-reputable payment processors.

I personally back away from sites using eGold.

Avinash · 08-28-2006, 03:11 PM

Quote:

Originally Posted by BinkyMelnik

Avinash:

You mentioned you're already using Moneybookers, which is the preferred payment method for porn and gambling sites, so what harm can adding eGold do?

:-\

hmm... Didn't researched about Moneybookers before adopting it as an additional payment processor.. gonna start digging the web now..

Thanks for your reply!

mann3r · 08-29-2006, 01:19 AM

Quote:

Originally Posted by BinkyMelnik

But seriously, eGold gets hacked all the time, and since no one using it hasta prove who he is, it's *poifekt* for scammers and people doing uncool things.

This depends on you set your security, E-gold for me is secure and I am using it for two years now without a problem. If you will use your e-gold in such hyip scheme, there you got a lot of scammers. But on the other side of the field, e-gold is excellent.

Quote:

Originally Posted by BinkyMelnik

Using PayPal sends a message that you're serious, that you're not a fly-by-night operation, and that you haven't had your PayPal account pulled for misbehavior. There's no need to sully your reputation by using less-than-reputable payment processors.

E-gold is also a reputable processor, there are large site using that service, example of which is a freelancing site like getafreelancer.com, Like paypal, e-gold has also ins and out but in terms of reputation per se, they are equal for me.

Quote:

Originally Posted by BinkyMelnik

I personally back away from sites using eGold.

This of course depends on user and persons perspective on processor. In the first place you are giving your customer a choice on the form of payment but adding a payment processor doesn't mean your reputaion will drop, the tendency is that your customer will grow if they chosse to pay via e-gold.

Avinash · 08-29-2006, 04:57 AM

Quote:

Originally Posted by mann3r

This of course depends on user and persons perspective on processor. In the first place you are giving your customer a choice on the form of payment but adding a payment processor doesn't mean your reputaion will drop, the tendency is that your customer will grow if they chosse to pay via e-gold.

Thanks!

etech-peter · 08-29-2006, 05:39 AM

I don't think adding e-gold payment processor on your site will affect your business. You are offering a choice of payment options to your clients on your site so it should hamper your business or reputation.

Avinash · 08-29-2006, 05:47 AM

Quote:

Originally Posted by etech-peter

I don't think adding e-gold payment processor on your site will affect your business. You are offering a choice of payment options to your clients on your site so it should hamper your business or reputation.

Thanks for your opinion!

mann3r · 08-29-2006, 07:00 PM

Quote:

Originally Posted by Avinash

Thanks!

No problem mate, we are here to give opinions on which you can measure others point of view

jasonk1234 · 08-08-2007, 10:44 AM

the thing I don't understand about e-gold is how in order to withdraw money from your account you have to send it to another site and give them a certain percentage to either turn it into a check or send you an e-gold debit card or what not. Am I right?

krahmaan · 09-30-2007, 11:54 PM

I remember having a conversation with someone over the web about an e-gold opportunity. I wanted to know if I could withdraw my actual gold from the account any time I wanted. Well, the guy told me that I could. But what he didn't tell me was that I had to accumulate a high amount of e-gold in my account. A really high amount -about enough to purchase a gold bar. Then I'd have to convince joint administrators to sign off on the gold, so it could be released. Actually, the gold was being shared by so many other people’s accounts.

So I didn't go for it. I don't even think the guy offering the service knew that.

2mymall · 10-10-2007, 12:11 PM

Why are you comparing e-gold to paypal and moneybookers? They are totally different.

You can fund your paypal or moneybookers account with a credit card. People can pay you using a credit card at paypal or moneybookers. They cannot do the same using e-gold.

To the person who said that accepting Paypal means more credibility for your business, visit paypalsucks.com

coolsaint · 02-10-2008, 05:15 PM

Quote:

Originally Posted by jasonk1234

the thing I don't understand about e-gold is how in order to withdraw money from your account you have to send it to another site and give them a certain percentage to either turn it into a check or send you an e-gold debit card or what not. Am I right?

E-gold has intentionally made the system because the system will keep them alive. People will be happy to get some profit from it.
I am also using it as one of my payment option because it is widely used. E-gold payment can't be charged back unlike paypal payment.
Though there is no subscription payment option available in e-gold like paypal.
If you use it for good there is no problem using it. It will be helpful for your business if you provide a extra option of payment to your customer.

coolsaint · 02-13-2008, 12:50 AM

Nice short article on Internet security. But I will say the occurance of this kind of attack is pretty rare. Though I have learned a New Term "Ransomware". Did a Google search found out a wikipedia Article on this :
http://en.wikipedia.org/wiki/Ransomware_%28malware%29

Cordell · 02-16-2008, 03:22 PM

From the consumer perspective, I stay away from all things shady, especially when my pocketbook is involved.

creation_wealth · 03-28-2008, 05:15 AM

Hi to all forum mates ...I would like to ask if it is okay to be involve in paypal e-gold transaction? Because I have friends doing such transaction and they make a small profit out of it. Hmm...it sounds quite interesting to me...but unsure whether there are people who are willing to do such transaction. I think there needs to be a mutual trust for such transaction to take place ..else it would be quite dangerous ...lol...lots of scammers around .

. Can anyone kindly give me some info bout it ..thanks

Can email me through: Creation_wealth@hotmail.com.