1mdc
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Names in other languages
- English1mdc
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- Nederlands1mdc
- 中文1MDC
Article bodies are English and are not machine-translated. A name in another language is not a translation of the article.
1mdc was a digital gold currency (DGC) that existed from 2001 to 2007 in which users traded digital currency backed by reserves of e-gold, rather than physical bullion reserves. The website appeared to switch between various offshore hosting locations, and used software designed by Interesting Software Ltd, an Anguilla company. As of April 27, 2007, a US court order has forced e-gold to liquidate a large number of e-gold accounts totalling some 10 to 20 million US dollars' worth of gold. A small part of this seizure was 1mdc's accounts and assets . If the court order in the USA is reversed, a user's e-gold grams remaining in 1mdc will "unbail" normally to the user's e-gold account. Ultimately e-gold is owned and operated by US citizens, so, 1mdc users must respect the decisions of US courts and the US authorities regarding the disposition of e-gold and the safety and security of US citizens. Even though 1mdc has no connection whatsoever to the US, and most 1mdc users are non-USA, ultimately e-gold is operated from the USA.
1mdc was a digital gold currency (DGC) that existed from 2001 to 2007 in which users traded digital currency backed by reserves of e-gold, rather than physical bullion reserves. The website appeared to switch between various offshore hosting locations, and used software designed by Interesting Software Ltd, an Anguilla company. As of April 27, 2007, a US court order has forced e-gold to liquidate a large number of e-gold accounts totalling some 10 to 20 million US dollars' worth of gold. A small part of this seizure was 1mdc's accounts and assets If the court order in the USA is reversed, a user's e-gold grams remaining in 1mdc will "unbail" normally to the user's e-gold account. Ultimately e-gold is owned and operated by US citizens, so, 1mdc users must respect the decisions of US courts and the US authorities regarding the disposition of e-gold and the safety and security of US citizens. Even though 1mdc has no connection whatsoever to the US, and most 1mdc users are non-USA, ultimately e-gold is operated from the USA.
References
External links
[http://www.1mdc.com/ 1mdc Homepage (defunct) Web archive for 1mdc (2001–2007) The Indomitus Report covering 1mdc (Jan 2005)
Text derived from https://en.wikipedia.org/w/index.php?oldid=1148090119 under CC BY-SA 4.0; modifications have been made.