This is an interview with the Mr. Steve Renner. For the last 7 years he has operated CashCards.net. His company is also now the primary dealer for exchanges of e-gold® digital currency.
Since 2006, OmniPay the original primary dealer for e-gold, has been out of business. With the loss of OmniPay, e-gold® independent agent exchange rates have risen from 2-3% all the way up to 25% in some cases. The 'exchange rate' is the fee an independent agent charges to exchange national currency into digital currency that can be used online. Sending national currency to purchase e-gold is called an 'inexchange' and withdrawing digital currency into national currency is known as an 'outexchange'. All exchange transactions for e-gold are handled through third party independent exchange agents. E-gold Ltd. has never even had a bank account and does not accept customer funds.
With a new primary dealer, it is believed that these exchange rates might fall back to normal ranges(3-6%). E-gold is still widely used around the world for Internet commerce so this information is welcome news for all account holders.
Mr. Renner also has the longest running e-currency debit card ever created in the history of digital gold currency. Knowing that over the past decade hundreds of other card companies have started and gone out of business, the CashCards.net operation is a rather monumental success story. Here is the interview:
This was a message received by Cashcards.net customers last month.
From Steve Renner Cashcards.net: Cash Cards is now the Primary Dealer for E-Gold. We have been approved to Bail Bars of E-Gold in and out of the system. So if you have a large quantity of e-gold - 100 oz or more please contact us for special "Out-Exchange" Rates!
(Q) Steve, give us some good news! What does that mean "Primary Dealer" ? Hi Mark, Yes thanks for asking, we have been approved to be the Primary Dealer for e-gold, essentially taking over the function previously preformed by OmniPay. We are the Exchange Service for the Exchange Services.
(Q) Can you tell us what this new arrangement with e-gold means for users? This means that e-gold will become liquid again, and customers can feel confident in using e-gold as a method of payment knowing they can always sell their e-gold at any time.
(Q) What might your additional buying and selling do for liquidity in the e-gold marketplace? This should make trading e-gold faster and easier for users, and encourage more people to use e-gold again as a chosen method of payment.
(Q) To out exchange e-gold through your company today, what is my rate on a $5,000 sell? Currently Out Exchange is running at 15%. $5,000.00 would be $750.00
(Q) Can you forecast that e-gold exchange rates might drop in the coming months? This should reduce the exchange rates to back to levels they were at previously in the 3% - 5% range.
(Q) For how many years has CashCards been in continuous operation? We originally started back in 1998 providing Internet Services. Cash Cards International, LLC was incorporated in 2001.
(Q) Your debit card products are the longest running card in e-currency history. Many other cards have come and gone. What fuels your success? We are here for the long term. We pioneered this concept and understand the Card industry, and we understand the Digital Currency. Most of the other competitors have no clue what it takes to run a Card Service business. They get a fast reseller account with some provider who does not understand the Digital Currency business and end up out of business in a short time.
(Q) What is the most popular product at Cashcards? Obviously our Core Business is providing Cash Cards which can be funded with Digital Currency. We are the leaders in this niche market.
(Q) Do you offer an affiliate program for those of us wanting to earn with you? Yes we have a 2-Tier affiliate program which pays $20 on Direct Sales of our cards and $10 on Indirect Sales.
(Q) I see that your cards are listed in the Liberty Reserve directory. I know they have gotten really popular in the past year. How much of your monthly business comes from Liberty Reserve exchanges? Liberty Reserve has gained in popularity recently. They have a good system, and seem to be managed well. I expect to see growth in Liberty Reserve Exchange. Another popular Digital Currency is E-Bullion.
For the past 6 years Mark Herpel has worked in the Digital Currency Industry. He writes for the American Chronicle and is editor of DGCmagazine. Email him with any thoughts or criticism. Note: This online publication represents Mark's personal views. OpEdNews only publishes a portion of Mark's writings.
Comment is flagged and has been reviewed by the editors -
Reason: Other
Editor's Message: Please show evidence that the article is a lie. I don't doubt you, I just would like to see you rebut that article with solid information. It's improtant to get the truth out
They do not have any agreement with e-gold because e-gold is prohibited by LAW to do any gold bailouts. This information can be obtained from their lawyers or by contacting e-gold directly.
Mark Herpel (dgcmagazine and libertyreservedirectory) promotes that website for money on any PR website by writing these articles. BEWARE you will lose your e-gold if you will trust cashcards or Mark Herpel.
Contact e-gold to verify that what is written here is a lie!!
by
Nanai G (0 articles, 0 quicklinks, 0 diaries, 1 comments)
on Saturday, July 5, 2008 at 8:52:33 PM
"The restraining order does not limit the E‑Gold operation’s ability to use its existing funds to satisfy requests to exchange E-Gold into national currency for customers of non-seized accounts, or its ability to sell precious metals to accomplish the same, once approval has been received."
FRIDAY, APRIL 27, 2007
by
DGCmagazine (7 articles, 0 quicklinks, 0 diaries, 5 comments)
on Friday, July 18, 2008 at 7:55:51 PM
That is incorrect what this person has commented. The government has ordered e-gold to remain open for bailing out bars. Permission is required from the gov before any sale & several parties are now awaiting that permission. I'll be happy to find the government documentation on this fact, if you would like. I'll ask Steve to comment on the issue here.
I think its very important to note the there is an active buyer and seller of e-gold, not matter what the rate, it's helpful for users to be aware of this. Whether Cashcards' participation will lower rates or they will buy a huge quantity from the market remains to be seen, but that's their business, the article/interview simply tells their plan. It's important news at this point in time for many users.
I've never heard of this web -libertyreservedirectory and don't get paid to promote cashcards, that's funny because we don't even use an affiliate link from their free ad because I do feel that is a conflict of interest.
DGCmagazine is mine, no secret there, it is open for free advertising to industry people and the articles are always free discussion. We invite industry people to write about their business. We've been open now 7 months and not taken a dime in income, in January, soon, we hope to go subscription only and print version then some ads will be sold.
Thank you for taking time to comment but the information is wrong.
Mark Herpel
by
DGCmagazine (7 articles, 0 quicklinks, 0 diaries, 5 comments)
on Tuesday, July 8, 2008 at 3:17:58 PM
