ginko

i was wondering if anyone used this atm system? i read people were worried about putting money into the account but i was wondering if the worries have gone now that it's been around?

It must be fully understood, as their information card states, Ginko is not a bank, it is an investment, kind of along the lines of a monetary mutual fund. For investing in Ginko, they off you interest, but no guarantees. As with everything in SL, there is risk, but I think Ginko is a risk worth taking.

Far as i know.. I use it.. and It's fine..

Nice banking system with a good % a day

I've been using Ginko since it started and I can wholeheartedly endorse it. The people are trustworthy, the support is prompt and the ATMs are a solid scripting achievement. Although large withdrawals are filled typically within a few hours, the 1% weekly interest is unbeatable in SL and hard to beat in RL.

I what do they invest? Only thing i can think of is in the Land Market.
Recently threads have poped up that the land price is falling, does this affect them?

Hi Frans,

It is my understanding that they invest in RL opportunities.

Heh. 52% p/a is quite an RL investment.

I visited one of their ATM's and it said they are currently paying 0.2% interest daily, which works out to 73% annually. That's an incredible rate. At that rate I could deposit $10,000 today and have $2,400,000 in ten years. More realistically, perhaps $17,300 in a year.

There must be banks in other online games like this one. How do their rates compare?

That's scarily high!! Why do I always get too nervous when it seems to good to be true *sigh* I'll never be rich...

nexcom has over 50000 lindens in ginko you can trust them

I have almost 550,000 L$ invested in Ginko Financial and I feel completely comfortable having my money there. Plus, from my chat with the executives over at the fund, all the info I recieved was promising that Ginko is gonna be around.

So you runs it? More importantly, what are they investing in to be able to offer such rates? lol

Me running it? No. I just have 550k there as an investment.

They are into real estate in SL and other financial services. They also have some RL business funded with the investments.

ATM i think Ginko got ~2 mil from various investors. So i just have a large stake in the bank I guess, I don't make the calls.

I have about $1,700 US dollars invested with them (in equivalent Lindens). They seem solid as a rock to me. And I am pretty sure about that because with 1.7 grand invested, I watch real good

So who are the avatars responsible in SL? I'm assuming that's ok to ask *shrug*

Nicholas Portocarrero is the chairman of the fund. There are a few executives helping him in operations.

Us investors don't have much power to influence the decisions at the bank, even tho in the RL, with the share me and Jsecure owns, we would be able to take over the bank . But, Nich has been quite capable and demonstrated great leadership skills and we are happy with his management over at bank.

I have been with them since December when interest was paid manually on Saturday night. It was shortly after Nicholas' post here in the forums I happened to run into him. We talked a bit and I signed up. I've only needed to make one large withdrawal (30k), but there was no problem getting it.

i was wondering if this organism can be trusted, lets say .. if i drop 200 000 L$ in this

I would strongly recommend you investing into Ginko, at their current interest rate you would be able to achieve over 50% annual returns from your investment. The bank is also financially stable with a compitent leadership.

On a personal note, I have enough faith to plan to increase my stake from 550k L$ to over 1 mil L$ in ~3 months. So, I highly recommend Ginko to any investors

No doubt Ginko is trustworthy and all that, but if you are dropping such large amounts of cash on them, you should have prospectus that lists their investments.

I can't imagine any investment on earth that would allow them to pay such interest rates.

Hi, I'm the founder and owner of Ginko Financial.


Regarding land prices affecting us:

Our real estate investments are not directly affected by land prices.



Regarding what we invest in:

A variety of things. Most of the money is used in a currency exchange operation (not L$ based, though we do we have a L$ trader we invest with from time to time). We have a sizable amount in the development of gambling related websites (being developed, can't provide any links at the time). We have a real estate development, South Paris, which is a private sim with shops and homes for rent, a casino, and a plot which is being rented to create a museum/art store based on the louvre. The casino is going to be managed by a third party on a profit share deal, but we had a couple of games made for it, which we have full resell rights to. We have smaller investments in less lucrative places, in particular we own some shares (not a whole lot, since they are just a side investment for some of the excess capital) in thegoldcasino.com, wontongold.com, and pecunix.com.



Regarding our interest rate:

At the moment we can afford this rate with the profits of the currency exchange operation. As we diversify into other businesses and grow our capital in this one, we will lower the rate. Our long term (18 months) goal for it is 3% a month, and our really long term (36 months) goal is 1% a month. We would love being able to provide 0.2% a day forever, but it's just not possible. We will keep the rate a bit high for a while though. Unless investors demand we lower it, in which case we will just pocket more of the profit, which is fine by us really.



Regarding our financial situation:

We have about L$3346442.87 in deposits, not counting pending withdrawals. We have significantly more in assets, but I don't think I can give you an exact number. We have considered doing a public statement countless times, but the accounting is more complicated than you might think and it would just confuse or mislead people. I don't want to do either. Bottom line is, either you trust us or you don't. If you don't trust us, you wouldn't trust any financial statement we provided. If you do, our "statement" that we are in good health should be enough.



Regarding the L$200,000 deposit question:

That wouldn't be a problem at all. There are many people with more than that and our current L$ reserve (for withdrawals and such) itself is very rarely bellow that.


Did I miss anything?

Nice to see what you invest in.
Very interresting.
People in SL keep Amazing me.

They had a cool private island I saw about three weeks ago. It looked like it was almost all rented out.

Where do I sign up? And how much money do I need to start an account?

The easiest to find ATM is in Ginko, right at the telehub. You can start an account with just L$1.