Second Life Forums Archive - WSE World Stock Exchange all for them

Finora Kuncoro

Impish Stoic

Join date: 11 Dec 2006

Posts: 213

10-31-2007 10:14

Well the way I look at it at the moment enough people have confidence in the L$ and are willing to trade it for other currencies and other goods/services.

Thus the L$ is currently both fungible and liquid in the classic sense

http://en.wikipedia.org/wiki/Fungibility

_____________________

<Now fully Trout Certified>
I give you a solid 8.2. You can come across as very pure if you want to, but inside, you're a dirty, dirty girl. Shame on you, and congratulations.

Designer of clothes and owner of Built For Sin Designs. Come visit us at: http://slurl.com/secondlife/Centaur/5/85/399/

Atashi Toshihiko

Frequently Befuddled

Join date: 7 Dec 2006

Posts: 1,423

10-31-2007 10:14

I believe the thing about mutual substitution simply means that any one-dollar-bill is of equal value to any other one-dollar-bill.

With a non-fungible traded item such as gold nuggets, each gold nugget must be weighed and appraised to determine its unique value. If you're trading something more abstract like works of art, each painting is valued independantly of another (although I LOVE the strangeness of the idea of buying sixteen pounds of Art at a fixed price).

When it comes to L$, US$, or any other similiar currency (or virtual currency) it is mutually substitutable with others of the same denomination.

That's my take on what it means.

-Atashi

_____________________

Visit Atashi's Art and Oddities Store and the Waikiti Motor Works at beautiful Waikiti.

Ravanne Sullivan

Pole Dancer Extraordinair

Join date: 10 Dec 2005

Posts: 674

10-31-2007 10:22

I sure hope when you said $28,000 you meant 28,000L$. If you invested 28,000 USD in a virtual company in SL, sorry I can think of no nice way to say this, you are a complete and total idiot and deserve to have lost the money. If you had not lost it in SL you would have lost it someplace else.

_____________________

Ravanne's Dance Poles and Animations

Available at my Superstore and Showroom on Insula de Somni
http://slurl.com/secondlife/Insula de Somni/94/194/27/

Burnman Bedlam

Business Person

Join date: 28 Jan 2006

Posts: 1,080

10-31-2007 10:28

I personally see nothing wrong with investing in virtual exchanges in a virtual world with virtual money... but I also accept and understand the risk involved. Hell, even in RL, the best paying investments are the highest risk. You could lose your shirt on RL Wall Street as fast as you can in SL.

There is absolutely no excuse for ripping people off, of course, but if you do not know the people you are dealing with that well... be very careful.

_____________________

Burnman Bedlam
http://theburnman.com

Not happy about Linden Labs purchase of XStreet (formerly SLX) and OnRez. Will this mean LL will ban resident run online shoping outlets in favor of their own?

Travis Lambert

White dog, red collar

Join date: 3 Jun 2004

Posts: 2,819

10-31-2007 10:35

Thanks for the answers on fungible, guys. Mal - if I came across like I was disagreeing or debating with ya, it wasn't my intention. This isn't exactly one of those issues that's high on my importance list

I just saw fungible, looked it up... and ended up more confused than when I started

_____________________

------------------
The Shelter

The Shelter is a non-profit recreation center for new residents, and supporters of new residents. Our goal is to provide a positive & supportive social environment for those looking for one in our overwhelming world.

Ronaldo McMahon

Registered User

Join date: 19 Feb 2007

Posts: 77

10-31-2007 10:37

All this talk about fungibility makes me feel like a mushroom omelette.

Strife Onizuka

Moonchild

Join date: 3 Mar 2004

Posts: 5,887

10-31-2007 11:15

This forum isn't for general discussion; there are many Resident Sites where this discussion is appropriate — Resident Answers is for Resident-to-Resident help.

I'll close this thread...

Forum Guidelines

Private discussions – the forums are a public area for the Second Life community’s use. Individuals who have a dispute with each other have other channels of communication to discuss their differences or communicate – private messaging, IM within Second Life, or chatting within Second Life. Also, threads that are addressed to a single individual or group are inappropriate on the forums, this includes slander or "naming names" in a posts title, starting polls about a particular resident or group, etc.

Source: AR
Action: Lock
Reasons: Private discussions & Off-topic

_____________________

Truth is a river that is always splitting up into arms that reunite. Islanded between the arms, the inhabitants argue for a lifetime as to which is the main river.
- Cyril Connolly

Without the political will to find common ground, the continual friction of tactic and counter tactic, only creates suspicion and hatred and vengeance, and perpetuates the cycle of violence.
- James Nachtwey

WSE World Stock Exchange all for them
Finora Kuncoro Impish Stoic Join date: 11 Dec 2006 Posts: 213	10-31-2007 10:14 Well the way I look at it at the moment enough people have confidence in the L$ and are willing to trade it for other currencies and other goods/services. Thus the L$ is currently both fungible and liquid in the classic sense http://en.wikipedia.org/wiki/Fungibility _____________________ <Now fully Trout Certified> I give you a solid 8.2. You can come across as very pure if you want to, but inside, you're a dirty, dirty girl. Shame on you, and congratulations. Designer of clothes and owner of Built For Sin Designs. Come visit us at: http://slurl.com/secondlife/Centaur/5/85/399/
Atashi Toshihiko Frequently Befuddled Join date: 7 Dec 2006 Posts: 1,423	10-31-2007 10:14 I believe the thing about mutual substitution simply means that any one-dollar-bill is of equal value to any other one-dollar-bill. With a non-fungible traded item such as gold nuggets, each gold nugget must be weighed and appraised to determine its unique value. If you're trading something more abstract like works of art, each painting is valued independantly of another (although I LOVE the strangeness of the idea of buying sixteen pounds of Art at a fixed price). When it comes to L$, US$, or any other similiar currency (or virtual currency) it is mutually substitutable with others of the same denomination. That's my take on what it means. -Atashi _____________________ Visit Atashi's Art and Oddities Store and the Waikiti Motor Works at beautiful Waikiti.
Ravanne Sullivan Pole Dancer Extraordinair Join date: 10 Dec 2005 Posts: 674	10-31-2007 10:22 I sure hope when you said $28,000 you meant 28,000L$. If you invested 28,000 USD in a virtual company in SL, sorry I can think of no nice way to say this, you are a complete and total idiot and deserve to have lost the money. If you had not lost it in SL you would have lost it someplace else. _____________________ Ravanne's Dance Poles and Animations Available at my Superstore and Showroom on Insula de Somni http://slurl.com/secondlife/Insula de Somni/94/194/27/
Burnman Bedlam Business Person Join date: 28 Jan 2006 Posts: 1,080	10-31-2007 10:28 I personally see nothing wrong with investing in virtual exchanges in a virtual world with virtual money... but I also accept and understand the risk involved. Hell, even in RL, the best paying investments are the highest risk. You could lose your shirt on RL Wall Street as fast as you can in SL. There is absolutely no excuse for ripping people off, of course, but if you do not know the people you are dealing with that well... be very careful. _____________________ Burnman Bedlam http://theburnman.com Not happy about Linden Labs purchase of XStreet (formerly SLX) and OnRez. Will this mean LL will ban resident run online shoping outlets in favor of their own?
Travis Lambert White dog, red collar Join date: 3 Jun 2004 Posts: 2,819	10-31-2007 10:35 Thanks for the answers on fungible, guys. Mal - if I came across like I was disagreeing or debating with ya, it wasn't my intention. This isn't exactly one of those issues that's high on my importance list I just saw fungible, looked it up... and ended up more confused than when I started _____________________ ------------------ The Shelter The Shelter is a non-profit recreation center for new residents, and supporters of new residents. Our goal is to provide a positive & supportive social environment for those looking for one in our overwhelming world.
Ronaldo McMahon Registered User Join date: 19 Feb 2007 Posts: 77	10-31-2007 10:37 All this talk about fungibility makes me feel like a mushroom omelette.
Strife Onizuka Moonchild Join date: 3 Mar 2004 Posts: 5,887	10-31-2007 11:15 This forum isn't for general discussion; there are many Resident Sites where this discussion is appropriate — Resident Answers is for Resident-to-Resident help. I'll close this thread... Forum Guidelines Private discussions – the forums are a public area for the Second Life community’s use. Individuals who have a dispute with each other have other channels of communication to discuss their differences or communicate – private messaging, IM within Second Life, or chatting within Second Life. Also, threads that are addressed to a single individual or group are inappropriate on the forums, this includes slander or "naming names" in a posts title, starting polls about a particular resident or group, etc. Source: AR Action: Lock Reasons: Private discussions & Off-topic _____________________ Truth is a river that is always splitting up into arms that reunite. Islanded between the arms, the inhabitants argue for a lifetime as to which is the main river. - Cyril Connolly Without the political will to find common ground, the continual friction of tactic and counter tactic, only creates suspicion and hatred and vengeance, and perpetuates the cycle of violence. - James Nachtwey

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WSE World Stock Exchange all for them