We can keep silence and persuade ourselves not to speak on this topic for a long time. We can conduct auto-training and create optimistic forums where you will hot up the topic of predominance and divine origin of E-gold. But let’s face the truth. What E-gold payment system and E-gold Ltd., which stands behind it, represent today?

To look into the bottom of the problem let’s see the reason of that depressing state of E-gold observed today. There are a lot of opinions about this but we hold the opinion that company has suffered from the same sword, which helped that DGC-giant to reach the peak of virtual economy. The matter concerns low level of security and absence of requirements to personal identification. E-gold Ltd. became a hostage of their trump card in the market. By attracting crowds of customers who had an opportunity to carry out operations with tens of thousands of dollars under the name Donald Duck, company has achieved a big concentration of money earned by false pr****ces in its assets. And no matter what one could say but company could not stay afloat for a long time.

We remind you that beginning from mid-December of 2005 American government began to watch closely at Gold&Silver Reserve, Inc., which is a contract operator and primary dealer of E-gold system. Bank accounts of this organization were frozen and offices searched.

Surely it was impossible to prove that E-gold was participating in money-laundering as it is impossible to prove that 5000$ received from HYIP owner are the stolen ones. In witness of this on January 13, 2006 district court of the USA decided to cancel measures on freezing accounts of Gold& Silver Reserve, Inc. in view of absence of inculpatory evidences of E-gold system.

One can remember that lots of people hoped that E-gold will start a new life. However, judging on situation one can draw an analytical conclusion that either company has dragged out the beginning of that new life, or we watch the death of the largest payment giant from on screens sitting in the first row.

Certainly, one can note efforts of the system to whiten itself. But such measure only harmful to the company. Mass blocking of accounts caused discontent of Internet users that resulted in mass leaving of E-gold system. The resulted trend of negative attitude towards E-gold has influenced on its reputation in the Internet. So, if three years ago possessing of E-gold merchant on personal website was considered as convenient tool to pay for merchandise and services, today more and more people treat logo of E-gold merchant with distrust and consider cooperation of website with E-gold system as demonstration of bad form. This effect of mass flow out can be easily noticed on chart of E-gold website traffic during the whole period of company’s existence. Let’s see the analysis of E-gold.com website traffic:




Broken line of chart shows better than other opinions the real state of E-gold’s affairs. One can clearly observe the interval from the middle of 2006 to the beginning of 2007 when users really hoped that E-gold would become a new reliable partner, having 12-years old history of trust. But this has not happened. That immediately reflected on popularity of E-gold system use. Chart clearly shows that starting from 2007 traffic on E-gold.com website is decreasing confidently. It has already reached the level of 2003 and continues to decrease.

But calmness of E-gold amazes. Company not only fails to show any care about its marketing and promotion, but even cannot appear before its users in a modern look. As the most part has already guessed, the matter concerns design of website. Surely, when it comes to traditions modern trends can only spoil the image of company. But having faced such situation as E-gold did, the best solution could be complete rebranding, many people think. And experience of Neteller proves this concept. Despite absence of generally habitual Neteller, company actively promotes a new website in a new look, and there are some reasons to guess that such strategy will be successful.

It will be also interesting to note that E-gold became a hostage of its own popularity because of one more reason. Company success still gives no rest to specialists in DDoS-attacks who with one month periodicity carefully put the site to lethargic DDoS sleep.

The last drop of oil on the flames of which burns E-gold is poured by attitude of Internet exchange providers towards payment systems. We asked their opinion and here are the answers got by our reporter:

Manager of UKRWEBMONEY_COM - обменный пункт WebMoney, купить webmoney, e-gold, продать webmoney, e-gold comments the present situation with E-gold:

“…E-gold continues working even without omnipay guarantee... In other words, actually, E-gold is not backed by money as it is impossible to sell it even to the company itself. Turnovers of E-gold have decreased in comparison to the beginning of last year. But despite all predictions E-gold is still alive.

HYIPs still work with E-gold. There are some people who earn on changes in the exchange rate of gold. It means that E-gold go on living... and it is demanded... Exchange rates of E-gold in auto-exchangers periodically become stabilize.

Today E-gold tries to whiten and to show its readiness to collaborate with the US authorities. But now E-gold will never become completely anonymous as it was earlier… In any case, I’m for E-gold’s existence.”

And here is opinion of Support Service manager of other exchange provider, who wished to stay anonymous:

“E-gold does not provide any guarantees on investments… in other words, they have no gold reserves …. Margin can be anyone (each exchange provider tries to buy or to sell as profitably as it can, i.e. buy at cheaper and sell at more expensive rate). Today E-gold is bought for -25%. Later the things will go worse and it will be bought for -30% and even for -50%. It means that currency has decreased in value for one fourth. This payment system will not live for a long...”

Roman, manager of WMIRK.ru:


“For the time being E-gold will live in state of coma, as it was recently. May be, after election in the USA which will be held this fall something will change. So, if democrats win E-gold will have a chance to return, if republicans – the system will remain in that state of coma and in future will be finished off. In my opinion, everything will stay as it is now till fall. I would like the system working fully as it was several years ago.”

Summing up all foresaid, let’s put E-gold on surgical table and before starting to operate on, make out the final diagnosis. So, the following symptoms are observed:

-Withdrawal via bank wire is impossible.

-E-gold Ltd. is closely watched by state controlling agencies of the USA.

-Popularity of system has dropped approximately 2,5 times in comparison to development peak point.
Withdraw or exchange of E-gold is very difficult today or is conducted with high interest in exchangers whose trust to E-gold is decreasing.

-Mass blocking of users’ accounts resulted in rapid distrust to E-gold.

-Website design has not been renewed since the moment of its creation and today looks rather old-fashioned and does not attract any attention.

-DDoS attacks of E-gold website periodically cause troubles in work with the system that yield significant losses to the people whose business is based on E-gold.

Conclusion that suggests itself can be formed in one short phrase: