What? RL Banks in a Virtual World with L$ (Fictional Currency)

Correct me if I am wrong, but hasn't the USD been "fictional currency" since becoming no longer backed by gold nearly 70 years ago? It would seem the only major difference between the USD and the L$ is that the USD has been deemed "Legal Tender".

And the fact that the US has a massive international economy with a giant army with lots of guns and pointy objects backing it up.

Historically two things that are important in any country holding onto its wealth.

Agreed. That is perfectly correct and a good post.

Folks, forgive me if I am coming across as a bit self-opinionated.
It's just that I saw loads of people loosing big money from the Ginko issue and the whole issue of financial services in SL is as big a problem as gaming if not worse. Indeed, at least with casinos we all know the usual end result is money loss, but "investment" in SL is far worse because it seems to offer the chance of making money, when in the vast majority of situations the only winners are the original promoters.

And look how unstable the current grid is......not currently a good commercial financial platform.

Metaverse Second Life/WoW type virtual worlds should be for fun and light entertainment; indeed, I have no real personal problems with gaming, war type activities, adult relationships (but no kids) and most of the stuff you see on the grid. But leave first life financial services in first life where there is recourse for wrongdoing.

Finally a business idea......I know Blizzard are looking at movie possibilities, surely SL could do similar......and I have said this before there are some really talented fashion designers in SL.....now that WOULD port into first life if some of you had sufficient self confidence in your excellent designs

So what if it is NOT FDIC insured? Many banks offer investment services at the next window down, where the money you deposit in their mutual funds or other financial vehicles is clearly defined as a speculative investment.

An internet-savvy company could find a way to make a go of this, if they saw enough profit potential. The biggest hurdle I see is the matter of real-world identities to go with the SL accounts. Given the hue and cry over age verification, I don't expect to many folks to provide their RL info for there $40USD worth of Lindens on deposit at BofA Investment Services of SL.

Max

Ooo, a hard currency fan. This usually comes up in these discussions. I think it's the Godwin of financial debates. ANY currency is a fiction, a collective agreement by a society that some sort of marker will be used to represent value.