IP Address

An Internet Protocol (IP) address is a numerical identification that is assigned to devices participating in a computer network utilizing the Internet Protocol.  This number is similar as a telephone number, however used by computer hardware such as network cards, switches and routers.

 

There are plenty of technical articles regarding network components and the allocation of IP addresses.  This page explains the importance of recording the IP address to combat fraud.

 

Anonymous Identification

Every ISP must purchase blocks (range) of IP address to connect to the Internet.  Therefore, knowing an IP address is knowing the ISP owning the range of IP addresses encompassing that address.  By the way, we can do the same reverse lookup for a telephone number.  If a phone number is genuine, then it is possible to determine the phone company leasing that phone number.  Also, the area code often reveals the region and the city of the phone number.  Since the phone company knows where to send the monthly bill for a particular phone number, it follows the phone company knows the exact location of the individual utilizing that phone number.

 

The same information can be collected regarding an IP address.  Better, an IP address is almost impossible to fake, compared to the ease of spoofing Caller ID in a phone conversation.  This is because the IP address must remain valid in order for the server to send network packets back to the user.  If the IP address is incorrect, then the server will send the network packets to the wrong location and the user will never receive any data from the server.  In the case of iGolder, an incorrect IP address would mean the user will not be able to view any web page from iGolder.com, never mind making an unauthorized transaction.

 

Today, most computers connected on the Internet reuse the same IP address for extended period of time.  Since the IP address changes only a few times per year, its recording helps iGolder to determine activity patterns for a particular IP address (computer).  For instance, if you always make gold transfers from the same computer, then a large transfer from a new IP address (computer) to a new account (member) automatically raises the suspicion level.  Depending on the suspicion threshold, the server iGolder may send you an email message requiring you to confirm the transaction.  If the transaction looks very suspicious, then the server iGolder may simply hold the transaction until an authorized staff member contacts you by phone to confirm the transaction.  Again, we have no desire to put our nose in your business, however we are determined to keep fraud at bay.  Eliminating fraud is essential for us because we want to offer low transfer fees to our members.

 

 

Since August 1st, 2013 iGolder is no longer accepting new accounts and balances can only be redeemed. During the past years, we have been recommending Bitcoin more than our own payment system. We believe in physical gold ownership, and developed iGolder as a mechanism for people to acquire physical gold by trading with one another.

Since iGolder has a central point of failure (our server may be raided by thugs wearing some kind of uniform), we feet it is safer for us to cease operations. The iGolder experiment has been personally rewarding as we met many gold enthusiasts and also learned about Bitcoin in the process. For those who have no idea what Bitcoin is, we recommend doing your own research. Bitcoin is far superior to iGolder in every way, both in privacy and security as our server is always vulnerable to confiscation. Bitcoin is a communication protocol with a built-in "escrow service" capable of protecting both the buyer and the seller, rendering our Safetransit completely redundant. To learn more about the Bitcoin protocol and its feature, please watch "http://www.youtube.com/watch?v=mD4L7xDNCmA (Bitcoin 2012 London: Mike Hearn).

For those having gold in their iGolder account, we will ship the physical metal to anyone having more than 1 ounce of gold, assuming the owner is willing to assume the shipping costs. For smaller quantities, we offer to settle in Bitcoin, however we will also settle with any other reasonable payment system. We will give everyone at least two full years (until 2016) to contact us to claim their gold. After that period, any unclaimed gold will go to fund an economic development project in Honduras helping local people to become entrepreneurs.

We sincerely wish you the best in life and hope to keep in contact with you.

Yours in liberty,
The iGolder Team.


Update 2014: Since we announced we no longer accept gold transfers, we have received countless emails asking to keep the free gold charts and the PGP encryption tools. We plan to keep running the domain iGolder.com for both the gold charts and the encryption tools. Better, we are developing state of the art open-source software for a secure decentralized social network with a built-in wallet. We will announce when we have a product ready for use. Stay tuned!