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 of which about one quarter active.
As of May 2006, e-gold had 3,784,689 grams of gold in storage, which is worth approximately US$86 million. There are typically 66,000 e-gold spends each day, with a total value each day of about US$10.5 million (that is, about 460 kilograms of gold). In comparison, PayPal handles transfers of approximately US$60 million per day. (more…)