e-gold has notoriously been the medium of choice for many online con-artists, with pyramid schemes and HYIPs ("High Yield Investment Programs") commonplace. This is presumably partly due to e-gold maintaining its policy of irreversibility of e-gold transactions. According to a website who maintains a comprehensive database of HYIP scams daily, 89% of the scams preferred [...]
e-gold is a digital gold currency operated by Gold & Silver Reserve Inc. under e-gold Ltd., and is a system which allows the instant transfer of gold ownership between users. There are over three million e-gold accounts. About one quarter of those are active .
As of May 2006, e-gold had 3,784,689 grams of gold in [...]
On January 31, 2006, StormPay formally announced on its website that it would not allow itself to be used on any site which also offered another payment processor, such as PayPal or e-gold. The justification of this move was to prevent the transfer of funds between payment processors, which would increase the likelihood and untraceability [...]
StormPay is an electronic money auction payment processor run by Stormpay Incorporated, a Clarksville, Tennessee, United States company founded in October 2002 by John R. McConnell, Jr. and the CEO, Steve Girsky. It allows anyone with an e-mail address to buy or sell StormPay Auction items after opening an online account.
There is an ongoing controversy [...]
HYIP stands for High Yield Investment Program. HYIPs are purported investment programs normally offered via the Internet. HYIPs typically accept investments of $100 or less while promising high returns. The introduction of e-currencies such as e-gold and StormPay (although almost all HYIPs do not use StormPay as of February 2006, see StormPay article for why) [...]