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Old news of the week: Ginko is Gonzo
Qie Niangao
Coin-operated
Join date: 24 May 2006
Posts: 7,138
10-25-2007 07:38
As a kind of final nail in the coffin, Ginko Guy posted an announcement on WSE (https://www.wselive.com/research/announcement_detail/2732) about the demise of Ginko. Exercising fair-use, here are a few choice excerpts:

"Say what you will, but Ginko Financial changed Second Life for the better."

"The creation of the bonds was meant as a truce, a way to help me catch my breath back. I knew that in six, nine months tops I could settle the matter of the success or failure of our investments and that we had the means to make interest payments for the first quarter or two even without the success of our offworld venture."

"The fact is, there is no way for me to meet this quarter's interest payment."

"The bonds need to be converted to a fund, which will hold these assets. Namely, the WSE Traders Fund (WTF) already listed on the WSE. Interest payments are no longer part of the equation and as I am transferring the assets to Luke, I will no longer be involved with anything regarding Ginko Financial as it will no longer exist. Assets previously held by Ginko Financial are being transferred to the WTF."

Hmmm... so, what's my question? uh... Oh, I know! : So, how did Ginko Financial change *your* SecondLife for the better? :rolleyes:
Jillian Callahan
Rotary-winged Neko Girl
Join date: 24 Jun 2004
Posts: 3,766
10-25-2007 07:41
From: Qie Niangao
So, how did Ginko Financial change *your* SecondLife for the better? :rolleyes:
Endless forum entertainment. :p
Raymond Figtree
Gone, avi, gone
Join date: 17 May 2006
Posts: 6,256
10-25-2007 07:43
From: Qie Niangao
As a kind of final nail in the coffin, Ginko Guy posted an announcement on WSE (https://www.wselive.com/research/announcement_detail/2732) about the demise of Ginko. Exercising fair-use, here are a few choice excerpts:

"Say what you will, but Ginko Financial changed Second Life for the better."

"The creation of the bonds was meant as a truce, a way to help me catch my breath back. I knew that in six, nine months tops I could settle the matter of the success or failure of our investments and that we had the means to make interest payments for the first quarter or two even without the success of our offworld venture."

"The fact is, there is no way for me to meet this quarter's interest payment."

"The bonds need to be converted to a fund, which will hold these assets. Namely, the WSE Traders Fund (WTF) already listed on the WSE. Interest payments are no longer part of the equation and as I am transferring the assets to Luke, I will no longer be involved with anything regarding Ginko Financial as it will no longer exist. Assets previously held by Ginko Financial are being transferred to the WTF."

Hmmm... so, what's my question? uh... Oh, I know! : So, how did Ginko Financial change *your* SecondLife for the better? :rolleyes:
It changed SL for the better because many of us learned never to invest in any type of SL "bank". My heart goes out to those who changed NP's life for the better when he took off with their money.
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Slack Zapedzki
secondBiTS.com
Join date: 13 Feb 2007
Posts: 360
10-25-2007 07:54
From: Qie Niangao
Old news of the week: Ginko is Gonzo

what.... the attorney general?
Adz Childs
Artificial Boy
Join date: 6 Apr 2006
Posts: 865
10-25-2007 07:55
From: Slack Zapedzki
what.... the attorney general?
Former.
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From: Tofu Linden
Hmm, there's nothing really helpful there, but thanks for pasting.
Burnman Bedlam
Business Person
Join date: 28 Jan 2006
Posts: 1,080
10-25-2007 08:00
From: Raymond Figtree
It changed SL for the better because many of us learned never to invest in any type of SL "bank". My heart goes out to those who changed NP's life for the better when he took off with their money.
Investments aren't graded by risk level because it sounds cool... lol

Any investment... RL or SL... is a risk. Hell, look at what happened in 1987 in RL here in the US. "Black November" was a financial nightmare for a lot of people.

I wouldn't say "don't invest", but I sure as hell would advise EXTREME caution. I would also say "Don't be surprised if you lose it all". Same goes for any high risk investment.
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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?
Slack Zapedzki
secondBiTS.com
Join date: 13 Feb 2007
Posts: 360
10-25-2007 08:01
From: Adz Childs
Former.

well, that's okay then.

'cause for a moment I thought Ginko was John Stagliano.
Mahala Roviana
Registered User
Join date: 18 Oct 2006
Posts: 9
10-25-2007 08:03
"Hmmm... so, what's my question? uh... Oh, I know! : So, how did Ginko Financial change *your* SecondLife for the better?"

Who?
Raymond Figtree
Gone, avi, gone
Join date: 17 May 2006
Posts: 6,256
10-25-2007 08:03
From: Burnman Bedlam
Investments aren't graded by risk level because it sounds cool... lol

Any investment... RL or SL... is a risk. Hell, look at what happened in 1987 in RL here in the US. "Black November" was a financial nightmare for a lot of people.

I wouldn't say "don't invest", but I sure as hell would advise EXTREME caution. I would also say "Don't be surprised if you lose it all". Same goes for any high risk investment.
Regarding unregulated, uninsured SL "banks", I would say DON'T INVEST UNDER ANY CIRCUMSTANCE!!! But that's just one person's opinion who knows people who lost thousands of real dollars investing in SL banks.
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Raymond Figtree
Gone, avi, gone
Join date: 17 May 2006
Posts: 6,256
10-25-2007 08:05
From: Mahala Roviana
"Hmmm... so, what's my question? uh... Oh, I know! : So, how did Ginko Financial change *your* SecondLife for the better?"

Who?
If you don't know what the OP is talking about, count yourself as lucky. Or if you have a few days to kill, seach the word Ginko on this forum.
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Desmond Shang
Guvnah of Caledon
Join date: 14 Mar 2005
Posts: 5,250
10-25-2007 08:07
Resident answer of the month:

Anonymity + scammers abounding + fools & their money = Don't invest here.

"Doh!"
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Raudf Fox
(ra-ow-th)
Join date: 25 Feb 2005
Posts: 5,119
10-25-2007 08:09
From: Raymond Figtree
If you don't know what the OP is talking about, count yourself as lucky. Or if you have a few days to kill, seach the word Ginko on this forum.



It'd take more than a day.. and lots and lots of pie and popcorn.

What did Ginko do to improve SL? Easy, it proved that there was a reason that LL made gambling illegal ;)
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Slack Zapedzki
secondBiTS.com
Join date: 13 Feb 2007
Posts: 360
10-25-2007 08:12
From: Desmond Shang
Resident answer of the month:

Anonymity + scammers abounding + fools & their money = Don't invest here.

"Doh!"

sorry to be picky, desmond but that formula will yield an error as you are combining mathematical operators (+,=) with a logical operator (&;).
Cheyenne Marquez
Registered User
Join date: 19 Sep 2005
Posts: 940
10-25-2007 08:20
From: Qie Niangao
Assets previously held by Ginko Financial are being transferred to the "WTF."


:o
Dekka Raymaker
thinking very hard
Join date: 4 Feb 2007
Posts: 3,898
10-25-2007 08:24
From: Cheyenne Marquez
:o


That made me smile widely too
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Slack Zapedzki
secondBiTS.com
Join date: 13 Feb 2007
Posts: 360
10-25-2007 08:27
From: Qie Niangao
Assets previously held by Ginko Financial are being transferred to the WTF

for anyone who doesn't know that would be the World Taekwondo Federation

www.wtf.org
Brenda Connolly
Un United Avatar
Join date: 10 Jan 2007
Posts: 25,000
10-25-2007 08:59
From: Slack Zapedzki
for anyone who doesn't know that would be the World Taekwondo Federation

www.wtf.org

Thank you . I thought it meant Where The Fuck is my money.
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Colette Meiji
Registered User
Join date: 25 Mar 2005
Posts: 15,556
10-25-2007 09:09
From: Slack Zapedzki
sorry to be picky, desmond but that formula will yield an error as you are combining mathematical operators (+,=) with a logical operator (&;).


Does this one work?

Anonymity + scammers abounding + (fools & their money) = Don't invest here.
Cristalle Karami
Lady of the House
Join date: 4 Dec 2006
Posts: 6,222
10-25-2007 09:09
WTF....

And in that letter he admits that he intended to buy people's debt for pennies on the dollar, to get the debt down... he basically admitted to hatching a scheme to steal 3/4 of the value of the deposits. And he's going to get away with it. That is so sick.
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Lindal Kidd
Dances With Noobs
Join date: 26 Jun 2007
Posts: 8,371
10-25-2007 09:10
Too bad that Desmond Math isn't a required course for noobs. The logical operators may be mixed, but I've seldom seen a more succinct or truer piece of advice.
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Colette Meiji
Registered User
Join date: 25 Mar 2005
Posts: 15,556
10-25-2007 09:11
From: Cristalle Karami
WTF....

And in that letter he admits that he intended to buy people's debt for pennies on the dollar, to get the debt down... he basically admitted to hatching a scheme to steal 3/4 of the value of the deposits. And he's going to get away with it. That is so sick.


I don't know if thats the sickest part.

I think the sickest part is he doesn't think there is anything wrong with that.
Lindal Kidd
Dances With Noobs
Join date: 26 Jun 2007
Posts: 8,371
10-25-2007 09:13
From: Colette Meiji
Does this one work?

Anonymity + scammers abounding + (fools & their money) = Don't invest here.


How about,

Anonymity AND scammers AND (fools AND money) => Anonymity AND (scammers AND money) AND fools.
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Lindal Kidd
Argent Asbrink
Registered User
Join date: 27 Jul 2007
Posts: 217
10-25-2007 09:13
From: Colette Meiji
I don't know if thats the sickest part.

I think the sickest part is he doesn't think there is anything wrong with that.


Nah. The sickest part is that LL doesn't seem to think there's anything wrong with that.

HE's just a greedy *sshat, gimp.
poopmaster Oh
The Best Person On Earth
Join date: 9 Mar 2007
Posts: 917
the best part is the name of the fund
10-25-2007 09:19
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Slack Zapedzki
secondBiTS.com
Join date: 13 Feb 2007
Posts: 360
10-25-2007 10:22
From: Brenda Connolly
Thank you . I thought it meant Where The Fuck is my money.

No - that would be WTFIMM and the WSE only lists securities with ticker symbols that are 3 letters long.

(ISE does longer ticker symbols).
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