Saturday, January 7, 2006


When do you think micropayment will be a common way of doing financial transactions? Here is an excerpt from an article in Forbes magazine:

The market for Internet and wireless micropayments is expected to increase to $11.5 billion in revenue by 2009, up from $2 billion in 2003. But that's just a fraction of the estimated 400 billion transactions of less than $5 made by U.S. consumers, a total market of $1.3 trillion. (, 12/29/05.) "Missing links" blog reports that the micropayment company BitPass has acquired Yaga.

The market for digital currencies got a big setback with the criminal investigations of E-Gold Ltd. From Florida Today:

The FBI last month raided Jackson's Melbourne business, Gold & Silver Reserve Inc., the parent company of e-gold Ltd., and his home in Satellite Beach.

In the raid, federal agents took files and hardware related to e-gold -- a Web site Jackson started in 1996 which turns physical dollars into digital currency that is backed by gold repositories in London and Dubai. As of Thursday, no charges have been filed against Jackson or his businesses. (, 01/06/06.)

I think that James Turk's company, GoldMoney, will get more customers after the article (Through a Gold Bug's Eyes) in BusinessWeek. I corresponded a little bit with one of these "gold bugs" during my school time in New Hampshire. Have you read James Turk and John Rubino's book, The Coming Collapse of the Dollar and How to Profit from It?

For more on gold, read Gene Arsenberg's report, Gold Bulls Thrive, Bears Skinned, and my posts, AURUM: THE SHINING DAWN OF PRECIOUS METALS and TAX FREE DAY AND GOLD STANDARD.

UPDATE 01/10/06: For more on online payments, check out Ryan Donahue's Coinblog.

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