Wednesday, January 18, 2012

The Final Days of e-gold: Interview with Doug Jackson

Douglas Jackson Interview 2012 e-Gold

Doug Jackson and E-Gold were also the focus of a 2009 Wired magazine article.


  1. The funny thing is, that the article raises a question ("we need an independent system for transferring worth") and even contains the answer to it (Bitcoin), but fails to connect the points. I have a very positive impression of Mr. Jackson and his vision, but it must be stated that he did not understand Bitcoin. And this is completely ok if one takes into account that he invested years of thinking, work, money and dedication to build up a fully backed up digital currency.

    Yet, I argue, that with a slightly wider angle of perspective there is more to see: Merchants of precious metals combined with a storing service that accept Bitcoin take us there where the e-gold vision wanted to go: a fully backed up (=redeemable in physical form), free digital currency; but in a slightly different way as we are used to think about "money" up to now. There is no more a single point to turn to for "redemption" (the term sort of looses it's sense here). It's more that everyone decides himself at what time he prefers the aspect of transfer over the aspect of storage of worth or vice versa just by getting into or out from Gold/Bitcoin (which is just a mouse click away). In my view money will split up to various different forms and "niche markets". Here one can be seen: Gold and Bitcoin are just the perfect complement to each other. Ok, if that's too complicated for people/businesses, we will see service providers doing exactly that...

    I don't want to go on speculating here. Just wanted to make the inital point that the interview missed something very important.