Ginko Bond ???

I opened a account with world stock and i have over 200K in ginko bank but so fair their is NO ginko bond? has anyone got their bonds ?

I never used ginko, since it obviously seemed some sort of virtual ponzi scheme.

But don't worry!

Nic promises to give you the bonds.

As it states on the WSE website, it will take up too 48 hours to get it all settled.

The WSE home page will announce when GPBs are issued to Ginko account holders. In the mean time the action on GPBs yesterday went nuts when almost 50% of all existing bonds changed hands. Major bond holders were on both sides of the trades with Midas Commons dumping about 4 million and Shaun Altman aquiring a total of 1 million although I doubt Shaun did it all yesterday. Currently day traders seem to be holding a majority them now so expect the action to get even wilder when the Ginko account holders finally get theirs. I would advise not selling when everybody else does since you could get less than .10 on the dollar if everybody panics. You can't see past the top 10 bids but I would be willing to bet there are more bids at .01 than bonds will exist when the 185 million get added to the existing 11 million.

Well I would cautiously comment regardless of bond issue the current trading price has taken a knock. As I type the price range now is $L17 to $L17.5.

However don’t get your hopes up because that $L17 only represents 322 Ginko bonds.

Real price support for people who wish to sell is around $L13 or say $L3, 000,000 the US dollar equal being around $11,000.

Of course a level 2 book is dynamic and the position can and will change, but $11,000 is a mere fraction of the $150,000,000 I believe Ginko converted into Bonds

Folks sorry to be blunt but on the face of it Ginko deposit holders face a capital loss of around 85% in the present price range.

There is another problem too if the above is not bad enough. Luke, the WSE owner has a policy of delisting shares/stock that cannot or will not verify their investments that underpin the share price. I am not saying this will happen in this case but I would suggest potential purchasers of Ginko debt should seek a written undertaking from Luke he will not delist Ginko before parting with their lindens.

Given that Nicholas will not disclose investments I would say that if I were a potential Ginko debt purchaser I would want a cast iron guarantee from Luke he would not delist and if it was anything else than pure play money (say no more than $20/$30 real US) I would ask for a legal undertaking in real life. This can be achieved in theory if Luke was willing because unlike most here Luke discloses his real life contact details via a limited company in real life that is traceable and subject to Australian law.

Finally I must state I DO have an account at the WSE although it is not material in money size, although I could make it so if I so choose. I also have a similar non-material arrangement with Anshe Chung’s new stock market venture.

He's more than likely going to have to add all these customers of ginko manually or by some sql script so i'm really doubting he's just going to delist because nic doesn't disclose investments. (Why would he even start this if he was going to delist gpb anyways? ^^)

Ginko holds 9 million shares of HCL, the owner of the WSE so delisting would require some kind of fraud investigation.

Luke is a fairly decent guy and I am prepared to believe he is trying to run a straight business.

Regardless of the additional new clients he is currently gaining, if he had good reason to believe these Ginko bonds were based on fraud he would have to suspend the stock to protect the integrity of the WSE (and his business) as a whole.

That is why I said potential purchasers should seek such undertakings from Luke before purchasing AND read the WSE’s TOS and other supporting documentation in full.

This is my own opinion, I do not speak for or represent Luke

Well yeah thats true but i think if luke felt there was scams runing by nic he wouldn't of even gone this far and i'm sure people have already told him everything under the sun.

I NEVER "presume" with serious money.

Read everything again about Ginko and form your own judgement folks. I will let others have a go now.

I agree 100% however i do think its a shame he allowed this to happen, but i understand completely why he allowed it, think of how many people will now be exposed to the WSE website.

Okay,
now I "used" to hold ginko shares as I hold RL shares as well. Now, what you do in RL on the stock market if

* A company runs out of cash
* Splits stocks to create more cashflow
* Forces their account holders to take shars for their deposited cash in the accounts cause they can't pay.
* Does not disclose the actual financial situation....

Well, I did what you do in RL... I sold.

GINKO FINANCIAL TRANSFERS COMPLETED!
All Ginko Financial account holders now have an account on the World Stock Exchange and all Ginko Perpetual Bonds have been issued. If you did not have an existing WSE account please reset your password to activate your account by visiting a WSE ATM and typing: "reset password".

You can view a list of WSE ATM locations by visiting: https://www.wselive.com/education/atms

last 24 hours of trading:
https://www.wselive.com/research/charts/256

I agree he is a fairly good guy and I'd vouch for his honesty and the fact that he's trying to run a good business however it should be noted that he has a very... how to put this nicely... offputting way of dealing with customers sometimes.


full disclosure: I am a former director of Hope Capital the parent company of the WSE

How many think that if they:

a) made an alt and some alt 'friends'
b) put up a low-key shop front for a month or two
c) wrote a really convincing paragraph in five minutes,

...they couldn't do an 'IPO' on one of these exchanges, and run off with 3 or 4 million $L a few days later?

Think about it, people... would *you* run an establishment that allowed this?

Don't walk away... run away.

I won't even register on a 'bank' or 'stock exchange' site - I don't want to be tied to the inevitable investigation in any way, shape or form.

Don't believe me? People didn't believe me about the sexual ageplay ban or the issues with gambling either.

I would like to ask, for the benefit of those who were forced to have their real money turned into bonds, that we stop beating this horse. No more bashing or warnings are needed here. But the more bashing that goes on, the less likely it will be that folks who deposited money into Ginko will ever see it again. For their sake, lets STFU on this belabored issue. Thank you.

*blink* Wow. You sound like you know your stuff John! I'd be scared to tangle with you in a back alley of Wall Street.

My company is registered on the WSE and it hasn't met its IPO yet and granted it is still a little ways off before hitting the end date.

It's VERY VERY VERY unlikely someone could take a few million L and just run off in a few days. People aren't exactly stupid. My company is a registered company in RL that moved here and people don't know it well enough to invest in. So I dont see how a small new person that run a small shop for 2 months could very easily gain that much Lindens without some serious scrutiny.

I don't want to sound more stupid than I am but I had over 200k in ginko...I moved a small amount into the 30 day agreement things as I thought I cant take any out it cant get much worse....I kinda new and have faced facts that i'm never going to get back what I put it in but i've got no clue about wse or bonds or buying and sellig shares.

Can anyone advise me?

Am I best just to wipe it all off, leave it in what ever bond thing it is and just hope one day it's worth more than what ever it is now?

Or should i just sell it now and walk away with what ever I can ?

I'm sure loads of people have asked this before but wouldn't a better solution of been for SL to just setup some servers out of the USA to allow the casino sims to run in?

At whose expense? New bondholders? You want more people to get suckered so that older investors with significant holdings - one in particular - can get her money out? Ponzi, anyone?

no it's not, it's happened twice already. and thats why CAPEX and ISE have set up fraud insurance funds.

I'm tired of ginko threads as well but honestly an invidual in a desperate attempt to sell something which is a rip off to begin with in an effort to get some of their own money back is also making themselves part of the scam and sucking in new peopel to boot. If there are any people who do business in SL selling their bonds knowing what has gone on and taking in other new people I would start to hesitate to do business with them elsewhere. If they can convince themselves that they are not perpetuating a lie at this point and sell the bonds they too are messing with people and probably about the spout the same nonsense nick did. The fact is a bad investment is a bad investment and selling toilet paper as gold and lying about the facts to others in order to make a buck makes people look bad.

Why would eny decent business person sell a scam then they simply converted the ponzi scheme into something else that is also a scam

Sorry to inform you but you won't ever see the money again. They no longer even consider your funds real they are now fictional.
A friend lost 95k in Lindens.
Which is or was the equivelent of over 358.51 in usd. More in aud because she is Austrillian.

Stopping the bashing is not going to lead to more people getting suckered. I'm not saying stop with the pertinent information. But what is the point of posting the same negative crap over and over again, other than making one feel superior? How about this: If you have new information to post, then post it. If it's a redundant comment like saying "Ponzi, anyone?" then consider refraining.

Or if you want to continue warning folks, do it somewhere else. This forum's audience has seen the movie and we all know all the dialog.