Community Investors Mutual (CIM) updates.

We are now in the second month of having opened CIM to outside investors and as the club’s membership grows steadily, with more deposits coming in constantly, it is becoming apparent that we need to do something about increasing the security of our funds from hackers. When the club was limited to a few members there was not much liquid cash in our ecurrency account to worry about. But now there is a constant flow of cash entering our accounts and very little withdrawals so that it is becoming necessary to move funds in and out of various ecurrency exchangers and bank accounts to maintain safety and security from hackers.

As you will note from many reports in forums, e-gold is constantly under attack from hackers and we see many of their customers’ accounts being successfully emptied of funds. While this is a risk we have to face in this industry, I am trying to minimize this by keeping our egold balance as small as possible. In so doing I have to move funds out of egold and into safer places and back again into e-gold when there is a need to do so. This moving of funds in and out of banks and ecurrency exchangers entails having to pay fees each time and these fees range from 1% to as high as 4% per transaction. As you can well guess these charges eat into the club’s profits.