Over the next few years, many Bitcoin clones will start popping up all over the world. Unlike what the virtual currency community has been used to in terms of altcoins, these clones will mimic Bitcoin technology without necessarily using a form of payment attached to it. That being said, the “new E-Gold” might try to steal Bitcoin’s crown, although there is no guarantee of success so far.
E-Gold: Virtual Payments Backed By Gold, However…
The topic of sending payments online in a convenient and secure manner has brought forth many types of platforms over the years. One of the most popular online payment solutions – for a while at least – was E-Gold, a platform that issued their own “currency” backed by gold assets.
It didn’t take long until E-Gold started getting a lot of attention, albeit most of it was from a crowd with less than legitimate intentions. Popular IRC channels, such as #CCPower on DalNet, offered virtual marketplaces where credit card information was bought and sold in exchange for E-Gold, as well as other payment methods such as Liberty Reserve and Western Union.
There was one simple reason