Is Podex Exchange going to close soon?
Absolutely, no. I love my job and virtual life is part of my real life so there is no reason to close. You can be sure that exchange service will continue in GCG as long as GCG exists and in case of unpredictable accidents my co-workers can run Podex without me. I do hope that 10 years of uninterrupted work can be a proof.
Is it possible to make CAD main currency of Great Canadian Grid?
From technical point of view it is a little problem but of course it is possible.
However…let’s have a look at the statistics. Although GCG names suggests that it is national grid it is so nice and welcoming that it attracts users from all over the world. Only 23% of purchases and 11% of cash-outs are done in CAD while the most preferable currency is still USD. GCG avatars simply prefer USD in general.
Next problem is currency transfer between grids. All grids serviced by Podex are calculated on the base of USD. If only GCG was based on CAD and the rest of grids on USD the inter-grid exchange rate when sending coins to or from GCG would change every hour and calculation would be so complicated that users would never know how many coins they would receive.
And the last, the most important case – price. Now, the price of GCG coins is based on CAD/USD exchange rate. That is why sometimes you pay more and sometimes less CAD for GCG coins. I have just checked the rate and let me show it to you. ( I know that we all hate Maths but sometimes there is no escapeJ
If you want to buy 1000 MCS by Paypal you pay 4,40 USD. If you decide to pay for the same amount with CAD you will pay 4,69 CAD. If you check official Google rate for 4,40 USD you will see 5,22 CAD.
What does it mean? It means that Podex usually has more friendly exchange rate than Google, not mentioning PayPal who charges much higher. Of course, it depends on official exchange rates but usually avatars save on exchange in Podex, not lose.
Why sometimes the card is charged more than official rate?
It can happen when you do not have enough money on your Paypal account. In such situation Paypal transfers money from your sub-account in other currency or charges your credit card. In both cases Paypal uses its own rate which is always much worse than official one.
Who makes the profit from higher exchange rate?
It is Paypal or credit card issuer, as Podex receives only the amount of money declared in payment form.
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We are a roleplay publication featuring activities in the Manitou, GCG regions and beyond.
Kevin M. Klerks, Editor
(aka Winter Silversmith)