opie999

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Jude

what's with 1mdc? lol

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opie999

Welllll......They're a bit of an oddity. They advertise themselves as an e-currency but they're based on E-gold. I had to open an account with them recently to make a spend into a prog.

Since they're based on EG, there's no need for a third party exchange service to move funds between the two.

Anyway, they probably don't rate a dedicated folder like EG or EB so the "Other" category seems about right.

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Jude

They claim to store E-gold and the rates shouldn't fluctuate with them. But note, if any thing happens to E-gold, 1mdc will most probably close down as well.

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opie999

Yep. Whatever happens to EG, happens to 1mdc.

It's an interesting business model, though. These guys are profiting by doing little more than shuffling money back and forth and round and round between EG accounts. Makes me wonder how many others are doing the same thing and calling themselves a "digital currency".

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Jude

Do they actually mention on their site on how are they making money with the deposits?

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opie999

They charge a fee if you receive 100 or more spends per month. There's advertising on there website. I think they will act as exchanger to other e-currencies. Merchant accounts. Those were what I could glean from just skimming their FAQ but I'd imagine there are other revenue sources.

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Jude

I've sent an email to info@1mdc.com to see what kind of response will I get for a question that's bugging me for a long time.

We'll see

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Dolphin

Hey Jude,

Did you ever get a response back?

LightHalzen might be adding 1mdc so I'm now checking this one out myself.

Anyone know how secure 1mdc is? Their url does come up using either http or https ...

Dolphin

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Jude

A reply, and that's it. The reply generally doesn't say much on what they do. In short, an unsatisfactory answer.

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