I ordered 3 gold coins from GP about 6 weeks ago. My account was charged for the coins (plus a hefty processing fee), and I received confirmation e-mails on the orders. Repeated follow-up e-mails to them about the status of the order have been ignored. Now, I can't even access their website. Does anyone know what is going on with them? Can SBR provide any assistance? (I found out about this outfit through a post by one of their representatives on this site.)
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How much were the Gold Coins?Comment -
whats a gold coin ?P.S. Im not good in english. I apologize for any error in my post.Comment -
GP closed with all depositors money stolen a while ago. There was never any gold.Comment -
gp's ship has sailed, its been and gone, max is lying under a palm tree with all ur money sipping cocktails. and as usual the players dont have a leg to stand on as it was based in Costa RicaComment -
Max needs to be caught. Let's get this f*cker. This forum group 'caught' Cole Bartiromo before.
This is some basic info, published two years ago.
Where's CyberSleuth?Greetings fellow e-currency users and enthusiasts. I just learned that there is a new gold backed e-currency (aka DGC – digital gold currency) on the block. I first learned about it from an article in the DGC Magazine (btw, I recommend you check it out if you’re into e-currencies), so I hurried over to the GP website to learn more about it.
The first notable thing about the website is its plainness. This to me is not necessarily a bad thing. For a website dedicated to providing on type of service the simpler the better in my opinion. The site has the main functions on a left side menu which provides quick access to the two most important things you can do on the site – access your account, or if you’re a new member create a new one.
Now let’s talk a bit about the company itself. The only info that I was able to find regarding GP is that they’re a Limited Liability Partnership registered in Panama and that their customer support and marketing offices are located in Costa Rica. I would’ve liked to see some sort of official registration documents from the Panamanian authorities. Their choice of legal structure is quite interesting. I was expecting a corporation or perhaps a Panama PIF (private interest foundation), but I’m no legal expert so I’m sure there is a reason GP’s principals chose to organize themselves in this manner.
What is also interesting about GP is that unlike many other e-currencies you can fund your account directly from GP. With e-gold and others you have to fund your e-currency account via a third-party e-currency exchanger/market maker. Having said that you can STILL use a third-party exchanger, so you definitely have a choice. The ability to fund your account directly from GP is definitely convenient, but personally being a purist I prefer the business model used by e-gold because in my opinion it is more closely approaches the ideal of a pure free market currency. Putting academic issues aside, let’s move on.
Can GP be trusted?:
Good question! I wish I could give you a solid answer but unfortunately I can’t. Since this company is so new to the e-currency scene it has – in my opinion – yet to prove itself.
Now in regards to the GP domain name I found this info in the March 2009 issue of DGC Magazine.
The domain GP.com was active back in
all of 2004 and early 2005 did you operate the
business at that time?
Actually, we were not aware of the domain names
prior use and nobody with GP has any affiliation
with the prior users of the domain.
So you purchased the system or the domain
and added your own system?
We purchased the domain name and built our own
system.
In the end I’m not sure how “safe” I would feel using their services. What I’m looking for is third party validation and auditing and so far I don’t see this offered anywhere. Essentially what I’d like is third party auditing of their gold bullion and also verification of their corporate details.
If you’re wondering whether you can visit their offices, the answer is yes (according to their FAQ). Contact them to make arrangements if you’d like. I for one don’t fee like taking a trip to Costa Rice just to verify this, but I’m sure some of you will – or better yet if you happen to be living there already why not pay them a visit?
Where is the gold?
“In secure private storage in a variety of locations for maximum privacy and security” (taken from their FAQ) I don’t much like this vague answer. For all we know it could be in some basement somewhere, or could be nowhere at all (read in the pockets of the company owners). If they expect us to trust them with our gold I would recommend they provide more details and submit to a third party auditor (just like e-gold and others). Heck, I could start my own gold backed e-currency too and say that the gold is stored is a super secret high security location. Would you trust me? Probably not! – and you’d have every right not to.
To be fair I did notice that in the DGC Magazine interview they did mention that they do have plans to publish an audit of their gold reserves.
Can one add or redeem gold?
Yes. They ask that you contact them for details. Also “GP is offering 1 oz gold coins for redemption. The 1 oz coin is produced by G Edward Griffin author of The Creature from Jekyll Island”
Fees:
All fees are specified in grams (G) of gold, and are based on the weight of gold transferred or held.
Transaction Fee
2%, of transaction amount is deducted automatically from the recipient account upon receipt of the payment.
Storage Fee
There are no storage fees or monthly account fees.
Are there any exchangers that accept GP?
Yes there are a few – 7 are listed on the GP website at the time of this posting. On a side-note there also one lone merchant listed on their website – one called powercookie. Mmmm….cooookie.
Ok ladies and gents I think that about does it for this posting. Hunger has gotten the best of me and I must hurry now and load up my GP account so I can buy a power cookie.
For more details on GP please see their website.
I wish you all the best and thanks for reading and visiting my blog.
Cheers,
Alan
http:/alansmoneyblog.comComment -
Since it was a deposit/withdraw method in some A+ books, I thought they are really reliable, more so than ***. But it turns out to be a scam???Comment -
gp was a wonderful method of withdrawing money from matchbook in my time having withdrawn in excess of about over $20,000 and all I can say is thank my lucky stars that it happened after i no longer has been using GPComment -
south *methodComment -
thinking of doing a ********** on all transactions i had with GP... had about 3k in there when they froze everyones money, and now they seem to be gone for good.Comment -
If its within 60 days, contact your CC company and file fraud charges. One good thing about the U.S. govt., they have laws on the books that protect the consumer.
Some CC companies try to stick you with the bill even after you tell them your sob story. The law is on your side.Comment -
yea for sure but thats a well kept secret in the business lolComment -
Is there a way to find out if they indeed had legal problems with the US gov? If so, it could be possible that the gov has frozen funds which might be eventually recoverable.Comment -
What kind of gold coins were they?
Krugerrands?Comment -
why buy from these scam artist, plenty of legit dealers w/much lower fee's ?
sorry for the loss, but gp wouldnt be a place i "bought" gold from, even when they were working well..Comment -
Is there a way to find out if their claim of "Legal issues" was real...or just an excuse to fold shop. If the US gov was involved, shouldn't there be a way to confirm that?Comment -
the gold was a lie?Comment -
i want me goldComment -
What exactly mean GP?I really can t understand which book are you talking about.Comment -
C'mon SBR...prrovide us with some leads to try and track down.Comment
