Review: V-Money global payment system

Hi everyone. Okay, I took a little break from my GoldenBux site but I got a little bored so I decided to write a review. Lol, aren't I crazy ;)? Nevermind, don't answer that question! :)

Today I am going to briefly review a new e-currency called V-Money (v-money). Well, v-money is not exactly new; they've been around for a while, but I just never gave them much notice. I opened an account, hmm, about a year ago and then just sort of forgot about it. I came across it my bookmarks file and it just struck me today that I should do a review of it on my blog, so here I am doing exactly just that.

Effective July 1st, 2007 www.v-money.net is owned and managed by Globyte S.A. a Panama Corporation duly incorporated and registered with the relevant authorities. On June 18, 2007 Globyte S.A has been issued a commercial license number 2007-4886 to process online payments. I believe they used to operate out of Switzerland with the corporation being registered in Seychelles, but as you can see above they've moved shop to Panama - a good thing in my humble opinion.

Now the first thing you should understand about v-money is that it is not backed by any precious metals so it is NOT what is commonly referred to as a DGC (digital gold currency). V-Money is more or less like paypal or like e-bullion e-currency, meaning that it is based solely on fiat money. There are obvious pros and cons to this, the most obvious pro is that you don't have to pay any storage fees like you do with e-gold or e-bullion. So like I've said, v-money is more or less an alternative to Paypal or e-bullion e-currency. However it would not be quite correct to compare it to paypal because there is one BIG difference between v-money and paypal. With PayPal you can add/withdraw money from your account using PayPal's OWN system, with v-money you CANNOT - you have to use a third party, or what most people call "an exchanger". So from that point of view v-money is more like e-bullion e-currency.

Lately I've noticed that a lot of HYIPs and autosurfs have flocked to v-money. Now, I am not a big fan of HYIPs or autosurfs (I'll be up front and tell you that most so called HYIPs are just scams and you WILL lose your money), but I can see why they've done so. V-Money being based out of Panama (and previously Switzerland with Seychelles IBC) offers excellent privacy and cannot be touched by the fascist US Government - like e-gold has been (and hurt quite badly I might add).

Ok, let's talk about the all important fees. Here is their fee table:

Fees Table
Type	Fee Percent	Minimum Fee	Maximum Fee
Transfer	1%	$0.01	$0.50
Withdrawal to e-gold	5%	$0.01	NA
Deposit from e-gold	2%	$1.00	NA

You have the ability to nearly instantly move between v-money and e-gold. I say nearly instantly because most transfers are completed withing 24 hrs not instantly.

If you're wondering how you can withdraw your v-money to your bank account or to some other financial medium, well, you're going to have to use a third party exchanger. There is a list of officially sanctioned "exchange partners" on the v-money website.

I think that should be all the info you need to know. The next step is up to you. If you're looking to add another e-currency to your portfolio then you've found it. If you're like me your portfolio is probably already overflowing.

Have a good day/night/morning/evening/dusk/dawn..whatever...:)

P.S In case numerous links throughout the page have eluded your attention, the V-Money website can be seen at:

http://www.v-money.net

Almighty Google drops all e-gold adwords ads

Well, I'm a bit shocked to hear this. According to Digital Money World Google has decided to prevent any future use of adwords ads that contain any reference to e-gold, including e-gold exchange, e-gold investment etc. Some have called this move as "fascist" and "anti free-market", others have said that e-gold had it coming and in a way deserves this because of their lack of "self regulation". I think this move is utterly preposterous. Filtering out keywords such as "HYIP" or "e-gold investment" can be somewhat justified on the grounds that it can be easily proven that the majority of such supposed e-gold investment sites are nothing more than ponzi scams, but banning completely the use of "e-gold" as a keyword is ridiculous. E-gold is a CURRENCY, much like US Dollars, and Euros. Who in their right mind would ban people from using the word "dollar" or "euro" in their advertisements. Google's decision does not seem wise to me and I think that either they have been pressured by some "outside influence" or they are embarking on some sort of moral crusade to rid the internet of ponzi scams and the like. Well, I've got news for you Google; you're not going to accomplish much because all those advertisers that used keywords such as "e-gold" will simply move to your competitors' sites.

Anyways, I am going to stop here before I go on a rant. I am interested in hearing what you people think about this, so feel free to post a response to this post.

Here is a copy of the e-mail Google sent out to its customers:

Dear AdWords Advertiser,

We are writing to inform you of a change to Google’s advertising policies that may affect your AdWords account.

In the coming weeks, we will no longer accept AdWords ads that promote e-gold.

Ads and websites are also not accepted for related content which includes, but is not limited to, e-gold exchange, e-gold investment, and e-gold accounts.

When we make this change, Google will suspend all ads identified as being in violation of this policy. If your account is affected by this policy change, please remove any e-gold content from your ad text and website. Current e-gold advertisers are encouraged to instead advertise other products or services that comply with our policies.

As a business, Google must make decisions regarding the advertising that we accept. We apologize for any inconvenience this policy change may cause you.

Sincerely,

The Google AdWords Team

** As noted in our advertising Terms and Conditions, Google may refuse any ads or terminate ad campaigns at any time, for any reason. Please note that the decisions we make concerning advertising in no way affect the search results we deliver. Google offers broad access to content across the web without censoring search results.

c-gold website is now available via secure http only

I thought I should let all you e-currency aficionados know that the c-gold (commerce gold - a new e-currency backed 100% by gold deposits)website is now available via secure http only (https://). I really don't understand why they couldn't just forward http requests directly to the secure http port if security is such a concern. In my opinion it would be better if they let consumers chose for themselves the level of security they want to have. But still, even if they want everyone to forcibly load every page via encrypted http they should at least put up a notice on their non encrypted http server to let us all know. Instead all you will get when you load the website via regular http is "unable to connect". Basically what they've done is turn off port 80 on their web servers completely and left only port 443.

I hope my complaint gets noticed by the c-gold administrative staff and that someone is able to provide some sort of rationale for this decision. By the way, not even e-gold has done this or any other e-currency that I know of. None of them force you to load all the html pages on their website via an encrypted connection only.