WSE Closed!

Want To Buy any bond at L$0.001

kinda have my doubts the wse will do a hit and run

The WSE is a sorry excuse for an exchange yes but don't lump every bank and exchange together just because some fail (Ginko anyone?) doesn't mean they're all bad, some like Slcapex are actually honest and trustworthy.

Disclosure:I am a former director of the World Stock Exchange and currently invest in SlCapex, ISE, Ancapex, and ASE (or whatever the hell Ansche calls her exchange now)

So did the WSE stop being trustworthy the day you left? Are the other exchanges you named regulated or insured? How long have they been around? What kind of guarantees do they make?

Oh noes!! My monies! Give them back! Oh, wait..I gave my moolahs to the dancing clowns..not to WSE

Would that have anything to do with the Dancing Clowns account at WSE?

me too....

No. I'm pretty sure these guys were camping bots dressed as clowns. It's the new thing to attract customers, doncha know?

No, and before you ask I don't have a vendetta against the WSE, I left on fairly good terms with Luke and have nothing against him or the exchange it's just that I feel that they don't do enough to protect against false IPO's, they have been slow to react to failing companies and the WTF fund ti say the least is a joke, it has no value and is just a way for them to write off any responsibility for failed funds that they approved and backed until the moment they failed.


No exchange in SL is really regulated (I don't count the SLBB as regulation) but even the WSE is insured by The Rock Insurance though it's the investor not the exchange that is buying the policy, a couple of the exchanges also have special funds setup to help reimburse investors of failed companies on the exchange which while not perfect go a lot farther than the WTF fund on the WSE.



Several of them have been around for quite some time, they don't make a lot of promises but as I said above the honest ones do the best they can considering that this is SL not RL.

People expect the exchanges to do the impossible, there is no regulating body in SL for exchanges other than resident run ones that are flimsy at best, the honest exchanges do the best they can but apparently that isn't enough for some people who are unsatisfiable and blame the exchanges for things beyond their control like the lack of regulation.

I'm almost afraid to post this... i swear i had nothing to do with it.. but i JUST predicted this a mere 2 days ago.
Documented on NWN and my personal blog
Of course, it is kind of a no-brainer. and, it hasn't officially happened yet. But "30 days!" "WTF"!?! See Prediction #2:
http://adz.secondlifekid.com/2008/01/01/2008-predictions/
http://nwn.blogs.com/nwn/2007/12/open-forum-post.html#comment-95521744
Maybe they read my predictions and said "you know, thats a good idea... reinvent ourselves as a way to avoid liability"

so whatever happened to good old Nick, anyhow?

My guess is that he turned off IM to email and created an alt and is now under a new identity, I've always guessed Strife or Prok might be Nick in reality but non of them will answer that question

Disclaimer: I am not responsible if you take that above joke seriously, my avatar is protected by the avatar protection program and any action against me will result in a squad of ninja bunnies coming after you.

Even discounting all the crazy interest that wasn't real money,

He musta done pretty good when he kept all the off-world stuff.

Wonder how he lives with himself.

I'm surprised more people didn't make more money placing bets on the fate of Ginko, it would have been perfectly legit as gambling and sportsbetting were still legal I believe even for awhile after Ginko went under, unless I have my dates confused.

No the gambling ban was part of the shiver that sent the house of cards down.

Remember the WSE thief also somehow coincidently winning the Ginko Lottery?

fun times.

Well this is going to slow down my 10 year wait for my Ginko bonds to be worth something.

Nick will pay everyone back

in 2134, when that much money will buy a can of pop.

Someone on another thread posted that WSE has shut down for a time before to impliment previous upgrades. Do you recall this, Gordon?

HAH I forgot about that. But my theory about it I had at the time still holds i think. My theory is that buying fist-fulls of lottery tickets is a good way to get rid of stolen money. Lots of lottery tickets naturally leads to high probability of winning. In other words, that could have been a coincidence.

Hi Ray I remember that. Many months ago, they shut down for like a week or so to upgrade their server. That was enough to upset market participants, eroding confidence in the exchange. This, if it will truly be 30 days, is simply unacceptable.

Was that the time the improver techie person ran off with their loot?

I remember at least one, shortly after WSE came to exist it shut down for quite some time for an entire overhaul, it was so small at the time and I believe it was the only exchange as well at the time so it wasn't as big news as this one is, it eventually came back online though unfortunately we never got back the ability to trade stocks using commands via the atm (a feature of the original system) and no other exchange has that feature either.

..gotta say it

OMG THE SKY IS FALLING!!!!

Funny you should mention stolen money, and lottery in a thread that discusses Ginko, From what I have heard a lot of the money that was put into the ginko lottery was from less than reputable means which makes sense considering how many tickets you had to buy to have even a chance in hell of winning and the amount of money going into each pot... I wouldn't put laundering out of consideration especially if the lottery was as many assert rigged.

I think the one Raymond was talking about was the one where they shut down for like 6 months near the beginning.