what is digital gold?
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Long before bitcoin was created and even before PayPal, there was a [company that promised to store gold](https://en.wikipedia.org/wiki/E-gold) for people and allowed them to hold gold purchased from them in the form of a easy to trade anonymous online currency. The company produced a form of digital gold.
Just like cryptocurrencies today they were a magnet for crime and frequently used by criminals attempting to hide transactions, but they also served legitimate customers with the first successful online payment system. Eventually the laws were changed that made continued operations impossible, and before they could return in a form that would comply with the laws, cryptocurrencies had filled the niche.
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