I'm surprised it hasn't been done :o)
RE: DX Gold - The original "gold backed" worldwide e-currency exchange - Total scam or good intention gone bad?
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DX Gold - The original "gold backed" worldwide e-currency exchange - Total scam or good intention gone bad?
The issue started when the platform allowed users to churn funds w/in the platform w/out going through the in/outxchange process which triggered the fees/micro taxes necessary to maintain a real and healthy platform 'economy' and currency growth. Nearly every user, myself included, took advantage of this which naturally resulted in a massive bubble of paper profits based on artificial transaction activity, If this problem had not occured, the role of dx merchants would have evolved into brick and mortar merchants driving the economic activity of the platform with real world products and services and consumers 'financially incentivised' to support local and global economies via platform merchants' buyng and selling activities. In hindsight, dxg admin should have acted decisively much earlier to put a plug on the churning of funds until the logjam of artificial gains was cleared. This would have been a better option than what actually took place where admin, late in the process, put the responsibility on users to lower their respective portfolio deficits. With that, I don't think that the purpose and aim of dxg was meant to be a scam or ponzi. The issue lay in the execution and management. Yes, the platform can look into incorporating blockchain technology but would have to redefine and enhance its offering as it will now compete with similar offerings and platforms being developed through smart contracts.
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You're explanation makes sense, the management lost control of it maybe a bit like what's happening in the banking system today.
I always believed it was a good intention that went wrong. Such a shame.
Thanks for the comment :o)
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Agree with you and you're most welcome!
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