SL Banks are Toast - Yee Haw!

---And eventually the linden exchange for real money feature will go as well. because sooner or latter LL will have to file paperwork and registrations they won't want or be able to file.

(But to the person who suggested LL should have frozen the bankers' assets prior to the announcement: Good idea. Wish they had. Instead, they're relying on the dubious honesty of the bankers to "honor their commitments". Pffft.)

Do you have a pay pal account? Do you have a website? Its not hard to do.

It's a bloody site harder than the system we can use right now.

Not going to happen; here's why: 7,337,693 US$.

That's real US$ money that LL earned over the last 12 months from printing and selling L$ on the Lindex.

It's good to be the Fed

Agreed.

Rebecca, I have read your posts, and I just don't understand why you appear to be so dead against L$. If you want to pay in US$, you can - most prefer to use L$. So what's the real reason you would prefer to see L$ go? <scratches head>

I'm not against the Linden$ at all. I'd like to see it flourish ingame only.

It will only be a small pain to change the system, vs. the major pain of inevitable regulations

I know it will not go down well with many on these forums, but there is another view. I've been a depositer with JT Financial for many months, I think, since shortly after it opened.

I've never had a moments doubt about it. I've always had my interest paid on time. I've always been able to get my money out when I wanted it. It paid me a nice little Linden bonus on top of the weekly stipend.

Did I know it was uninsured and unregulated? Of course I did.

Could I stand to lose the 100K+ that I've had in there for a while? Of course I could (in real terms its about £250 - I charge rather more than that for a days work).

Did I lose a moments sleep over it? Of course I didn't.

Do I know that there are people who couldn't afford to lose _any_ money? Yes of course I do. Those people shouldn't put money into things that have risks, like the lottery or bingo games or slot machines - but they do. In RL I don't even buy a lottery ticket, and I've never bet on a horse in my life.

Linden Lab has made a decision. I think its very unlikely that the decision will be reversed and while I don't really agree with it I will live with it.

I do realise that their announcement may well cause a 'run' on the banks involved and will undoubtedly cause short term problems for many of them. Just as their ridiculous ban on gambling did in the recent past.

And how would they flourish if they couldn't be exchanged for US$? I think you know they wouldn't. So why would you like to see L$ trading for US$ stopped?

I'm not against the Linden$ at all. I'd like to see it flourish ingame only.


It will only be a small pain to change the system, vs. the major pain of inevitabale regulations

Innocent academic researchers:

- So much for SL banks. Move on to crack cocaine research or escort studies.

They may get taken to the grindstone, yes....but I'd say it's better to face the music now then later.

Yes it has been nice they can print there own cash and exchange it. Great work if you can get it....till the powers (RL) that be, decide it's time to stop it. BTW, they can still sell Lindens....it's their fictional game.

The third option is to remove institutions which would ordinarily require fiscal regulation, such as any company which offered investment services of any sort (stores don't count, even stores where the major portion of them is not in-world).

It's important to remember that this is a simulation we're playing in, not the real world - and not a game either. Real currency is exchanged for $Lindens, and there have to be limits on what you can do with them or people will be defrauded, intentionally and otherwise, out of what amounts to real world dollars.

If Lindens are made so that you can buy them but they can never leave the system, the entire economy will collapse overnight, taking Second Life with it.

They won't sell very many of them.

Do you have a pay pal account? Do you have a website? Its not hard to do. There are plenty of ways to have a free and easy to make website with a pay pal button. The conversion steps are just an extra and slower, step....not to mention that as soon as this happens there will be plenty of website services appearing, ready to set up and designed for SL products. Any issues with transfer of a product can be fixed by LL. Of course it will be a bit clunky at first and something to adjust to---but were it already like that you wouldn't know the difference. The way they did it was a miscalculation from the get go.

So in other words, that's a no. There isn't an *easy* way to to it right now. What you're describing would be a hell of a lot slower and involve a lot more steps than simply selling a chunk of L$ once in a while. Having to go through all those steps for each and every micro purchase would be the end of SL commerce.

This'll be my last off-topic comment on this concept in this thread. It's clear you are either just funnin' us, or you actually have no idea what you're talking about.

Cheers.

-Atashi

I have about 20 linden invested in ACE, which hasn't grown at all. I could care less what happens to a mere 20 linden anyway."

IThat is why I say Sex is next and eventually the L$ will die.

Sex is next because LL has a relationship with PayPal which will not tolerate sex. Not even cartoon sex.