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What is egold? why does it exist? what r the benefits/drawbacks? how did it start?

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What is egold? why does it exist? what r the benefits/drawbacks? how did it start?

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  1. Egold is a scam.  Its founder claimed that he was starting a new currency that was unrelated to any national currency.  What it really is, though, is a way to transfer money, while the founder gets a fee.

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