Second Life Forums Archive - From SLX Forums: WSE Not Re-opening

Lias Leandros

mainlander

Join date: 20 Jul 2005

Posts: 3,458

01-09-2008 12:29

From: Tormented Twilight

I heard today WSE is completely defaulting, i.e. taking the money, probably making an entirely different account and transferring it's millions of Lindens to the new alt.

SL completely shoved all these banks and stock exchanges into royally screwing over everyone. They know they can't do crap about it, because as they said 'they're not regulated and are high risk', the owners won't even get in trouble, and LL really can't touch them, since they were technically playing by LL's past rules.

It's basically a free-card for everyone in the banking/exchange business to screw their customers waaaaay ahead of schedule. It was gonna happen anyway eventually.

Banks, Exchanges default? You can bet those insurance companies are gonna be one step ahead of the banks in the get-the-heck-outta-dodge department.

Probably only the early-birds are the people who were able to cash out, not to mention seeing as Linden Lab employees obviously told all their buddies they were going to announce an end to the banks, before they announced it, so that WSE and the like had the heads up to screw their customers over before a single person got a chance to pull out one measly L.

Kudos for looking out for your real friends LL and putting the cash scammers ahead of your real customers. Woo!

http://www.slexchange.com/modules.php?name=Forums&file=viewtopic&p=145991#145991

Anyone have anymore news on this?

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Ordinal Malaprop

really very ordinary

Join date: 9 Sep 2005

Posts: 4,607

01-09-2008 12:33

Possibly. I have a feeling that they will re-open eventually, though not pay any previously-promised interest. After all, there are certainly still financial scams available which _don't_ fall foul of the new regulations.

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Tiberious Neruda

Furry 'On File'

Join date: 1 Nov 2005

Posts: 261

01-09-2008 12:33

We knew this was coming. End of thread.

Johan Durant

Registered User

Join date: 7 Aug 2006

Posts: 1,657

01-09-2008 12:36

While I can understand people feeling upset that they are getting scammed out of money, how is this LL's fault? Moreover, what were people expecting LL to do, give the banks money in order to cover their interest payments?

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Kira Zobel

Registered User

Join date: 6 Jan 2006

Posts: 345

01-09-2008 12:38

I've been so dirt poor after ginko.
And now this.
I do hope I can save what little I have left in "ginko bonds."
Spent nearly 2 years collecting all that money.

..Ignore me I think everyone has heard so many of these complaints already.

Ordinal Malaprop

really very ordinary

Join date: 9 Sep 2005

Posts: 4,607

01-09-2008 12:38

From: Johan Durant

While I can understand people feeling upset that they are getting scammed out of money, how is this LL's fault? Moreover, what were people expecting LL to do, give the banks money in order to cover their interest payments?

In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious. Clearly there was _something_ going on, the maintenance thing was clearly fake, and unless it was a very lucky guess on the part of the WSE lot, some information was passed on.

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Alazarin Mondrian

Teh Trippy Hippie Dragon

Join date: 4 Apr 2005

Posts: 1,549

01-09-2008 12:39

With hindsight, it stands to reason that the WSE crew had a tip-off as regards the upcoming termination of unregulated 'banking' in SL. Occam's Razor and reverse aplication of cause-and-effect (we, the public, witnessed the effect [WSE closure] before knowing what the true cause might be) lead one to the obvious conclusion. Seeing how the supposed upright WSE acted on such a tip-off all I can say is that I'm glad someone at LL finally had the cojones to sweep that mob of hucksters out of SL.

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Ordinal Malaprop

really very ordinary

Join date: 9 Sep 2005

Posts: 4,607

01-09-2008 12:40

From: Kira Zobel

I've been so dirt poor after ginko.
And now this.
I do hope I can save what little I have left in "ginko bonds."
Spent nearly 2 years collecting all that money.

..Ignore me I think everyone has heard so many of these complaints already.

No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once.

_____________________

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Love Hastings

#66666

Join date: 21 Aug 2007

Posts: 4,094

01-09-2008 12:40

The only real fault LL could be accused of is not acting sooner. But it was always going to be a mess when they did.

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Kira Zobel

Registered User

Join date: 6 Jan 2006

Posts: 345

01-09-2008 12:42

From: Ordinal Malaprop

No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once.

Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now.

Johan Durant

Registered User

Join date: 7 Aug 2006

Posts: 1,657

01-09-2008 12:45

From: Ordinal Malaprop

In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious.

Oh I missed that part of the quoted message. hm, yeah the timing does seem rather fishy.

_____________________

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Ordinal Malaprop

really very ordinary

Join date: 9 Sep 2005

Posts: 4,607

01-09-2008 12:46

From: Kira Zobel

Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now.

That wasn't real either, any more than the interest that Ginko theoretically gave you was. There's no chance that I can see that anyone is going to get any of that money now. Perhaps you might get a couple of hundred L$, probably not.

I might sound a bit heartless, but I'm not, really, I just don't believe in sugar-coating the situation.

_____________________

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Nika Talaj

now you see her ...

Join date: 2 Jan 2007

Posts: 5,449

01-09-2008 12:46

From: someone

I heard today WSE is completely defaulting, i.e. taking the money, probably making an entirely different account and transferring it's millions of Lindens to the new alt.

This SLX posting appears to be just rumor, right? No more credible than anyone on this forum saying they think WSE officials will run with the money. Unless someone knows that Tormented Twilight is somehow affiliated with WSE?

Btw, I was at Robin Linden's office hours yesterday and she stated repeatedly that no banks were notified ahead of time. Of course, though, we as a population cannot have things both ways. If we continue to want LL to be incredibly open, we shouldn't be amazed if word of upcoming decisions somehow slips out unofficially.

Lion Ewry

Registered User

Join date: 30 Nov 2006

Posts: 88

There really was'nt a choice

01-09-2008 12:49

I am a retired economist. I ran stock investments for a large bank In rL for 17 years.

If anyone could consistently make 15 to 20% a year there was always something fishy--it always, always lead to a ponzi scheme in some form. Here they were offering obsurd returns--60% and such things.

The unfortunate thing is, ordinary people don't understand that, so they bite for this kind of thing. That is why banking regulations, Security Exchante Commission, And the Commodity Commisions had to be formed.

Even with those in place and thens of thousands of people auditing financial institutions every single day it is still a nightmere. Just look at Enron. For a place like SL there was really no other choice than to stop it entirely.

I really do feel sorry for people that are going to lose though. Always did--RL too. I saw plenty of it in RL. 350 million in one case.

Be glad it's gone.

Ordinal Malaprop

really very ordinary

Join date: 9 Sep 2005

Posts: 4,607

01-09-2008 12:51

From: Lion Ewry

I really do feel sorry for people that are going to lose though. Always did--RL too. I saw plenty of it in RL. 350 million in one case.

I do too. But somebody is always going to lose; nipping it early means fewer people will lose less money.

_____________________

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Colette Meiji

Registered User

Join date: 25 Mar 2005

Posts: 15,556

01-09-2008 12:52

From: Ordinal Malaprop

In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious. Clearly there was _something_ going on, the maintenance thing was clearly fake, and unless it was a very lucky guess on the part of the WSE lot, some information was passed on.

MMMhmmm and they just happened to be robbed in perfect sync with the gambling ban.

When they were heavily involved in Gambling investments.

Darien Caldwell

Registered User

Join date: 12 Oct 2006

Posts: 3,127

01-09-2008 12:52

So what is that mention in the OP about insurance companies? Are there actually insurance companies in SL, and what exactly to they insure if there are? O.o

_____________________

Colette Meiji

Registered User

Join date: 25 Mar 2005

Posts: 15,556

01-09-2008 12:53

From: Ordinal Malaprop

I do too. But somebody is always going to lose; nipping it early means fewer people will lose less money.

Absolutely.

IF they had waited a year it might be twice as much money owed that would be defaulted on.

Ceera Murakami

Texture Artist / Builder

Join date: 9 Sep 2005

Posts: 7,750

01-09-2008 12:54

So far, I have seen only one "Official Response" from any of the banks or bank-like organizations in SL. First Meta has a clear response posted on their website, stating that they APPROVE of the shut-down and that they are working with LL to get their Singapore-based credentials as a government-regulated financial group validated.

Has anyone seen any OFFICIAL statements from WSE or any of the other "banks" or similar financial groups in SL? So far I've heard a lot of rumor and speculation, but no facts.

_____________________

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Adz Childs

Artificial Boy

Join date: 6 Apr 2006

Posts: 865

01-09-2008 12:58

From: Ordinal Malaprop

No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once.

LMFAO... hood one!... He'll never be able to take away the money you used to have!!!

_____________________

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From: Tofu Linden

Hmm, there's nothing really helpful there, but thanks for pasting.

Alazarin Mondrian

Teh Trippy Hippie Dragon

Join date: 4 Apr 2005

Posts: 1,549

01-09-2008 13:00

I don't use any SL banks..... not since Nicky P and a posse of his goons stalked me across the grid for daring to stand up to them *BUT* it will be interesting to see if this First Meta bank becomes the first genuine RL bank to be validated for business as a bank in SL from many aspects:

1) To see how customers react to dealing with a bank that has government-backed RL credentials.

2) To see how long the banks maintains their presence in SL

3) To see what sort of banking services clients require in the SL micropayment environment.

4) To see whether the banks use their presence in SL as an actual banking service or merely as advertising / promotion for their RL banking services.

I can see the First Meta venture being of great interest to university students doing their research papers.

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Snowman Jiminy

Registered User

Join date: 23 Dec 2007

Posts: 424

01-09-2008 13:04

From: Nika Talaj

This SLX posting appears to be just rumor, right? No more credible than anyone on this forum saying they think WSE officials will run with the money. Unless someone knows that Tormented Twilight is somehow affiliated with WSE?

Btw, I was at Robin Linden's office hours yesterday and she stated repeatedly that no banks were notified ahead of time. Of course, though, we as a population cannot have things both ways. If we continue to want LL to be incredibly open, we shouldn't be amazed if word of upcoming decisions somehow slips out unofficially.

There is no reason why LL cannot "keep an eye" on SL banker accounts and investigate any "interesting" transactions......

_____________________

Qie Niangao

Coin-operated

Join date: 24 May 2006

Posts: 7,138

01-09-2008 13:05

From: Ordinal Malaprop

From: Kira Zobel

Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now.

That wasn't real either, any more than the interest that Ginko theoretically gave you was.

Well, if the 3K was what it sounds like, it was "real" in the sense that, when there were buyers for GPBs, some number of actual L$s went to the seller. And for a while there were buyers, the poor bastards.

Beady Voom

Registered User

Join date: 31 Jan 2007

Posts: 148

01-09-2008 13:10

Not sure if this is what the people on this forum actually want to hear, but JT Financial are currently paying out to their customers

The withdrawal limit is currently set at 5K per person per day, but that doesn't seem too unreasonable in the circumstances, and people are actually getting their money.

_____________________

Regards,
Beady Voom

Koukin Kamachi

Registered User

Join date: 14 Aug 2007

Posts: 13

01-09-2008 13:23

From: Beady Voom

Not sure if this is what the people on this forum actually want to hear, but JT Financial are currently paying out to their customers

The withdrawal limit is currently set at 5K per person per day, but that doesn't seem too unreasonable in the circumstances, and people are actually getting their money.

Interesting! Ginko capped its withdrawals to 5K per person, per day as its crisis began to unfold. And lots of people lost a LOT of money through Ginko.

ANY withdrawal limit is unreasonable, because it suggests the bank doesn't have the required funds to pay its depositors.

From SLX Forums: WSE Not Re-opening
Lias Leandros mainlander Join date: 20 Jul 2005 Posts: 3,458	01-09-2008 12:29 From: Tormented Twilight I heard today WSE is completely defaulting, i.e. taking the money, probably making an entirely different account and transferring it's millions of Lindens to the new alt. SL completely shoved all these banks and stock exchanges into royally screwing over everyone. They know they can't do crap about it, because as they said 'they're not regulated and are high risk', the owners won't even get in trouble, and LL really can't touch them, since they were technically playing by LL's past rules. It's basically a free-card for everyone in the banking/exchange business to screw their customers waaaaay ahead of schedule. It was gonna happen anyway eventually. Banks, Exchanges default? You can bet those insurance companies are gonna be one step ahead of the banks in the get-the-heck-outta-dodge department. Probably only the early-birds are the people who were able to cash out, not to mention seeing as Linden Lab employees obviously told all their buddies they were going to announce an end to the banks, before they announced it, so that WSE and the like had the heads up to screw their customers over before a single person got a chance to pull out one measly L. Kudos for looking out for your real friends LL and putting the cash scammers ahead of your real customers. Woo! http://www.slexchange.com/modules.php?name=Forums&file=viewtopic&p=145991#145991 Anyone have anymore news on this? _____________________ http://slurl.com/secondlife/Bear/214/199/107 Join in SL open enrollment CLUB JOBS to announce new DJ and Host Jobs for free. And on Avatar's United http://www.avatarsunited.com/groups/club-jobs
Ordinal Malaprop really very ordinary Join date: 9 Sep 2005 Posts: 4,607	01-09-2008 12:33 Possibly. I have a feeling that they will re-open eventually, though not pay any previously-promised interest. After all, there are certainly still financial scams available which _don't_ fall foul of the new regulations. _____________________ http://ordinalmalaprop.com/forum/ - visit Ordinal's Scripting Colloquium for scripting discussion with actual working BBCode! http://ordinalmalaprop.com/engine/ - An Engine Fit For My Proceeding, my Aethernet Journal http://www.flickr.com/groups/slgriefbuild/ - Second Life Griefbuild Digest, pictures of horrible ad griefing and land spam, and the naming of names
Tiberious Neruda Furry 'On File' Join date: 1 Nov 2005 Posts: 261	01-09-2008 12:33 We knew this was coming. End of thread.
Johan Durant Registered User Join date: 7 Aug 2006 Posts: 1,657	01-09-2008 12:36 While I can understand people feeling upset that they are getting scammed out of money, how is this LL's fault? Moreover, what were people expecting LL to do, give the banks money in order to cover their interest payments? _____________________ (Aelin 184,194,22) The Motion Merchant - an animation store specializing in two-person interactions
Kira Zobel Registered User Join date: 6 Jan 2006 Posts: 345	01-09-2008 12:38 I've been so dirt poor after ginko. And now this. I do hope I can save what little I have left in "ginko bonds." Spent nearly 2 years collecting all that money. ..Ignore me I think everyone has heard so many of these complaints already.
Ordinal Malaprop really very ordinary Join date: 9 Sep 2005 Posts: 4,607	01-09-2008 12:38 From: Johan Durant While I can understand people feeling upset that they are getting scammed out of money, how is this LL's fault? Moreover, what were people expecting LL to do, give the banks money in order to cover their interest payments? In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious. Clearly there was _something_ going on, the maintenance thing was clearly fake, and unless it was a very lucky guess on the part of the WSE lot, some information was passed on. _____________________ http://ordinalmalaprop.com/forum/ - visit Ordinal's Scripting Colloquium for scripting discussion with actual working BBCode! http://ordinalmalaprop.com/engine/ - An Engine Fit For My Proceeding, my Aethernet Journal http://www.flickr.com/groups/slgriefbuild/ - Second Life Griefbuild Digest, pictures of horrible ad griefing and land spam, and the naming of names
Alazarin Mondrian Teh Trippy Hippie Dragon Join date: 4 Apr 2005 Posts: 1,549	01-09-2008 12:39 With hindsight, it stands to reason that the WSE crew had a tip-off as regards the upcoming termination of unregulated 'banking' in SL. Occam's Razor and reverse aplication of cause-and-effect (we, the public, witnessed the effect [WSE closure] before knowing what the true cause might be) lead one to the obvious conclusion. Seeing how the supposed upright WSE acted on such a tip-off all I can say is that I'm glad someone at LL finally had the cojones to sweep that mob of hucksters out of SL. _____________________ My stuff on Meta-Life: http://tinyurl.com/ykq7nzt http://www.myspace.com/alazarinmobius http://slurl.com/secondlife/Crescent/72/98/116
Ordinal Malaprop really very ordinary Join date: 9 Sep 2005 Posts: 4,607	01-09-2008 12:40 From: Kira Zobel I've been so dirt poor after ginko. And now this. I do hope I can save what little I have left in "ginko bonds." Spent nearly 2 years collecting all that money. ..Ignore me I think everyone has heard so many of these complaints already. No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once. _____________________ http://ordinalmalaprop.com/forum/ - visit Ordinal's Scripting Colloquium for scripting discussion with actual working BBCode! http://ordinalmalaprop.com/engine/ - An Engine Fit For My Proceeding, my Aethernet Journal http://www.flickr.com/groups/slgriefbuild/ - Second Life Griefbuild Digest, pictures of horrible ad griefing and land spam, and the naming of names
Love Hastings #66666 Join date: 21 Aug 2007 Posts: 4,094	01-09-2008 12:40 The only real fault LL could be accused of is not acting sooner. But it was always going to be a mess when they did. _____________________
Kira Zobel Registered User Join date: 6 Jan 2006 Posts: 345	01-09-2008 12:42 From: Ordinal Malaprop No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once. Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now.
Johan Durant Registered User Join date: 7 Aug 2006 Posts: 1,657	01-09-2008 12:45 From: Ordinal Malaprop In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious. Oh I missed that part of the quoted message. hm, yeah the timing does seem rather fishy. _____________________ (Aelin 184,194,22) The Motion Merchant - an animation store specializing in two-person interactions
Ordinal Malaprop really very ordinary Join date: 9 Sep 2005 Posts: 4,607	01-09-2008 12:46 From: Kira Zobel Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now. That wasn't real either, any more than the interest that Ginko theoretically gave you was. There's no chance that I can see that anyone is going to get any of that money now. Perhaps you might get a couple of hundred L$, probably not. I might sound a bit heartless, but I'm not, really, I just don't believe in sugar-coating the situation. _____________________ http://ordinalmalaprop.com/forum/ - visit Ordinal's Scripting Colloquium for scripting discussion with actual working BBCode! http://ordinalmalaprop.com/engine/ - An Engine Fit For My Proceeding, my Aethernet Journal http://www.flickr.com/groups/slgriefbuild/ - Second Life Griefbuild Digest, pictures of horrible ad griefing and land spam, and the naming of names
Nika Talaj now you see her ... Join date: 2 Jan 2007 Posts: 5,449	01-09-2008 12:46 From: someone I heard today WSE is completely defaulting, i.e. taking the money, probably making an entirely different account and transferring it's millions of Lindens to the new alt. This SLX posting appears to be just rumor, right? No more credible than anyone on this forum saying they think WSE officials will run with the money. Unless someone knows that Tormented Twilight is somehow affiliated with WSE? Btw, I was at Robin Linden's office hours yesterday and she stated repeatedly that no banks were notified ahead of time. Of course, though, we as a population cannot have things both ways. If we continue to want LL to be incredibly open, we shouldn't be amazed if word of upcoming decisions somehow slips out unofficially.
Lion Ewry Registered User Join date: 30 Nov 2006 Posts: 88	There really was'nt a choice 01-09-2008 12:49 I am a retired economist. I ran stock investments for a large bank In rL for 17 years. If anyone could consistently make 15 to 20% a year there was always something fishy--it always, always lead to a ponzi scheme in some form. Here they were offering obsurd returns--60% and such things. The unfortunate thing is, ordinary people don't understand that, so they bite for this kind of thing. That is why banking regulations, Security Exchante Commission, And the Commodity Commisions had to be formed. Even with those in place and thens of thousands of people auditing financial institutions every single day it is still a nightmere. Just look at Enron. For a place like SL there was really no other choice than to stop it entirely. I really do feel sorry for people that are going to lose though. Always did--RL too. I saw plenty of it in RL. 350 million in one case. Be glad it's gone.
Ordinal Malaprop really very ordinary Join date: 9 Sep 2005 Posts: 4,607	01-09-2008 12:51 From: Lion Ewry I really do feel sorry for people that are going to lose though. Always did--RL too. I saw plenty of it in RL. 350 million in one case. I do too. But somebody is always going to lose; nipping it early means fewer people will lose less money. _____________________ http://ordinalmalaprop.com/forum/ - visit Ordinal's Scripting Colloquium for scripting discussion with actual working BBCode! http://ordinalmalaprop.com/engine/ - An Engine Fit For My Proceeding, my Aethernet Journal http://www.flickr.com/groups/slgriefbuild/ - Second Life Griefbuild Digest, pictures of horrible ad griefing and land spam, and the naming of names
Colette Meiji Registered User Join date: 25 Mar 2005 Posts: 15,556	01-09-2008 12:52 From: Ordinal Malaprop In this instance the poster seems to be talking about the WSE apparently having insider information and "going down for maintenance" just a few days before the announcement - which is, I admit, extremely suspicious. Clearly there was _something_ going on, the maintenance thing was clearly fake, and unless it was a very lucky guess on the part of the WSE lot, some information was passed on. MMMhmmm and they just happened to be robbed in perfect sync with the gambling ban. When they were heavily involved in Gambling investments.
Darien Caldwell Registered User Join date: 12 Oct 2006 Posts: 3,127	01-09-2008 12:52 So what is that mention in the OP about insurance companies? Are there actually insurance companies in SL, and what exactly to they insure if there are? O.o _____________________
Colette Meiji Registered User Join date: 25 Mar 2005 Posts: 15,556	01-09-2008 12:53 From: Ordinal Malaprop I do too. But somebody is always going to lose; nipping it early means fewer people will lose less money. Absolutely. IF they had waited a year it might be twice as much money owed that would be defaulted on.
Ceera Murakami Texture Artist / Builder Join date: 9 Sep 2005 Posts: 7,750	01-09-2008 12:54 So far, I have seen only one "Official Response" from any of the banks or bank-like organizations in SL. First Meta has a clear response posted on their website, stating that they APPROVE of the shut-down and that they are working with LL to get their Singapore-based credentials as a government-regulated financial group validated. Has anyone seen any OFFICIAL statements from WSE or any of the other "banks" or similar financial groups in SL? So far I've heard a lot of rumor and speculation, but no facts. _____________________ Sorry, LL won't let me tell you where I sell my textures and where I offer my services as a sim builder. Ask me in-world.
Adz Childs Artificial Boy Join date: 6 Apr 2006 Posts: 865	01-09-2008 12:58 From: Ordinal Malaprop No. You won't be able to. But on the other hand, you had lost all that money once Ginko crashed and probably before then anyway, so don't worry too much; you can only lose it once. LMFAO... hood one!... He'll never be able to take away the money you used to have!!! _____________________ http://slnamewatch.com — Second Life Last Name Tracking — Email Alerts — Famous People Lookup — http://adz.secondlifekid.com/ — Artificial Boy — Personal Blog From: Tofu Linden Hmm, there's nothing really helpful there, but thanks for pasting.
Alazarin Mondrian Teh Trippy Hippie Dragon Join date: 4 Apr 2005 Posts: 1,549	01-09-2008 13:00 I don't use any SL banks..... not since Nicky P and a posse of his goons stalked me across the grid for daring to stand up to them BUT it will be interesting to see if this First Meta bank becomes the first genuine RL bank to be validated for business as a bank in SL from many aspects: 1) To see how customers react to dealing with a bank that has government-backed RL credentials. 2) To see how long the banks maintains their presence in SL 3) To see what sort of banking services clients require in the SL micropayment environment. 4) To see whether the banks use their presence in SL as an actual banking service or merely as advertising / promotion for their RL banking services. I can see the First Meta venture being of great interest to university students doing their research papers. _____________________ My stuff on Meta-Life: http://tinyurl.com/ykq7nzt http://www.myspace.com/alazarinmobius http://slurl.com/secondlife/Crescent/72/98/116
Snowman Jiminy Registered User Join date: 23 Dec 2007 Posts: 424	01-09-2008 13:04 From: Nika Talaj This SLX posting appears to be just rumor, right? No more credible than anyone on this forum saying they think WSE officials will run with the money. Unless someone knows that Tormented Twilight is somehow affiliated with WSE? Btw, I was at Robin Linden's office hours yesterday and she stated repeatedly that no banks were notified ahead of time. Of course, though, we as a population cannot have things both ways. If we continue to want LL to be incredibly open, we shouldn't be amazed if word of upcoming decisions somehow slips out unofficially. There is no reason why LL cannot "keep an eye" on SL banker accounts and investigate any "interesting" transactions...... _____________________
Qie Niangao Coin-operated Join date: 24 May 2006 Posts: 7,138	01-09-2008 13:05 From: Ordinal Malaprop From: Kira Zobel Well there WAS the 3k my 110k+ bonds were "worth." 3k is better than nothing compared to what I have now. That wasn't real either, any more than the interest that Ginko theoretically gave you was. Well, if the 3K was what it sounds like, it was "real" in the sense that, when there were buyers for GPBs, some number of actual L$s went to the seller. And for a while there were buyers, the poor bastards.
Beady Voom Registered User Join date: 31 Jan 2007 Posts: 148	01-09-2008 13:10 Not sure if this is what the people on this forum actually want to hear, but JT Financial are currently paying out to their customers The withdrawal limit is currently set at 5K per person per day, but that doesn't seem too unreasonable in the circumstances, and people are actually getting their money. _____________________ Regards, Beady Voom
Koukin Kamachi Registered User Join date: 14 Aug 2007 Posts: 13	01-09-2008 13:23 From: Beady Voom Not sure if this is what the people on this forum actually want to hear, but JT Financial are currently paying out to their customers The withdrawal limit is currently set at 5K per person per day, but that doesn't seem too unreasonable in the circumstances, and people are actually getting their money. Interesting! Ginko capped its withdrawals to 5K per person, per day as its crisis began to unfold. And lots of people lost a LOT of money through Ginko. ANY withdrawal limit is unreasonable, because it suggests the bank doesn't have the required funds to pay its depositors.

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