Is Ginko crashing?

I've read some statements on this forum that people are pulling out of Ginko en masse and that's why the L$ is crashing.



/130/25/73669/1.html#post769999

The Ginko alts will probably jump in here and deny of course, but I'm still curious if this is happening.

Huh? Did someone say something?

For the sake of being a dick:





Anyways I'm glad I have nothing to do with Ginko anymore, pulled out just before the upgrade to 1.7 and use a personal ATM system so honestly I couldn't care less what happens to it.

i did. pulled out and demanded they close my account even though they refused to do so. err.

I talked with eltee and that 1.5million L pulled out is somewhat misleading because that was taken out way before the whole Anshe attack on Ginko. I'm sure the number who have pulled out in the past few weeks has been much smaller and the only person who would have an exact number would be Ginko.

As of right this second, Ginko Financial's totals are:

Deposit total: L$17,248,351.50
Account total: 2819
New Accounts in last 24 hours: 27
Transaction volume (Deposits, Withdrawals, Transfers, etc.) in last 24 hours: L$1,586,415.00 (533 transactions)

Transaction volume in last 7 days: L$9,104,386.00 (3458 transactions)

Ginko Financial is in no danger of crashing, and will continue to operate as normal.

If anyone has concerns as to any rumors flying around regarding Ginko, please feel free to IM any online Ginko employee for more information.

CCC

Nice job Clinton.

It's consistent responses like this that directly contradict the wild rumor mongering mounted by the anti-Ginko crowd, and will go a long way in helping to ensure that your new accounts will continue to steadily increase.

Also, those numbers might also serve to indicate that all that publicity might have served Ginko quite well.

How much of that was withdrawal? How much deposit? How many L$ you have in cash reserve now?

Did you earn profits on your investments the past 12 months? What is percentage of profit/loss you made on investment past 12 months? What is current value of investment?

Where are 16 million L$ that Nicholas cashed out for US$? What did he invest in? Nice new BMW? Surgery for his sick Mom? Lottery tickets?

That is less than what I was told 2 weeks ago deposits were. Seems some people must be getting out now.

After your smear campaign, there's no doubt that some people are getting out.

Actually I perceive your posts and forum title as smear campaign. I have raised valid questions and will continue to do so.

How about put your money where your mouth is? We could have one bet: you deposit your L$ with one trusted third party and I add the same amount of my own money to it. Then we wait. If in two year Ginko is still not bancrupt you can keep ALL the money and win 100%. However, if during that time Ginko fails to pay back its depositors I win and the money belongs to me.

How much are you willing to bet? 50000 L$? 100000 L$? 1 mio L$? Or you like to bet US$?

Oooh, I get it, this bet - like the fake land "deeds" that you give to your renters - is not worth the paper it isn't printed upon. Better still it is a long term bet on fiat currency in a game whose long term prospects are not ensured and to which "ownership" of said L$ is utterly revocable, say should LL decide to cancel your account or you lose your metaphoric shirt in telehub land devaluation and decide to quit.

Nice little bit of chest thumping at the end there. I must be talking to the male aspect of Anshechung.com. I'll see your bet and raise you L$1 bazillion.

Of course I wouldn't even speculate just how hard you'd try to smash Ginko in the 11th month should it look like you would need to pay off. If you act this scummy when it is just ego on the table, think of how you'd be when there was "1 mio L$" on the table. Yes, you please think about it, as I can't stomach such contemplation. Have a nice day.

We can bet US$ and have third party hold it.

But it seems you yourself have no faith that Ginko will be able to pay back its depositors.

How ethical is it to help others get mislead into invest into something that you would not bet your own money on?

Oh, how you misread - which would be fine if you didn't then say I said that which I did not.

I believe there is a greater likelihood that LL will cease operation prior to in-game financial services. Put another way, so long as there's another sucker out there all financial sevices in game will always be trying to part him from his L$.

Sorry, I don't gamble upon the outcome of the whimsy of two demonstably unstable firms with documented "screw the customer" reputations (LL and anshechung.com). Do you bet on blind, three-legged horses?

Why don't you just let time do its thing, come back in a year and laugh your asses off with "I told you so" in the biggest typesize? That really will be so much more gratifying; trust me.

Let's get back on track and quit with the crap, shall we?

Thanks for posting info for everyone to look at, even if certain people are always out to discredit anything you say.

When I say certain people, I mean one person only. I have no money in ginko personally, but I am tired of watching the BS from one person being directed at this same thing over and over and over and LL does NOTHING about it. I don't endorse either "company" so to speak.

my involvement has nothing to do with anshe and nothing to do with smearing ginko

i just ran the numbers, publically, and found they add up to bad things in the future, and i got everyone i know out now, simple.

If people wanna throw their own cash at it thats their choice.. i've shown, irrefutably, that it in its current form is a train-wreck... the only two 'resolutions' to that are essentially a) its going to change and not be what it is now (which may very well throw a panic and people are gonna loose big), or b) it is going to hit a brick wall and *everyone* is going to loose big.

thats no opinion, or slander, its a specific result of simply running the ginko numbers they are currently offering people and extending the results out to cover the typical life span of other RL investments

if you wanna hold out and see how long ya can ride it, please do

While I obviously have no way to confirm, these numbers sound highly plausible to me.

In fact, it wouldn't surprise me if Ginko lasted a lot longer than one year.

If the stable 17m number is true (and I suspect it is), then I'd venture to guess they were still running 'in the black' by taking in more new deposits than they were paying out, and putting the difference elsewhere.


All in all, this is an amazing thing to watch.

I dont understand these numbers.

Where are the L$17,248,351.50 Lindens deposited? and how the heck can you have .5 Lindens?

Do you mean that Ginko has this much in US$ equivalent in a bank somewhere?

Not trying to cast doubt on anything here, just trying to understand.

I don't think anybody knows. And simply stating via numbers "We have a lot of money" doesn't really mean anything besides that they have a lot of money.

And I (and others) will continue to raise valid questions about your sometimes questionable tatics. If that rises to the level of smear tactics to you, then I humbly suggest that it's your problem, not mine.



Unlike rich land barons, I don't have $50K Lindens to tie up on pointless bet.

You know, if I had a business and WANTED to be open about it, getting interrogated by you would certainly make me change my mind. The LAST thing I would do is give you enough information to be able to compete with me. You have successfully convinced me with your repeated attacks that you are a ruthless business person. And much like Walmart, you have managed to bully your way into a business empire.

However, in so doing, you have lost my business. I don't have to support a business entity that actively attacks others. I don't do business with Walmart, I don't have to do business with you either. At this point, I don't care if you are right or wrong, I am disgusted by your rabid insistence on beating Ginko into the ground and I am sure I am not the only one. Spare me the whole "I am doing this for the good of all" speech ... your actions are questionable, and your motives even more so.

Based on Nick's comment on the longevity of Ponzi schemes (11 years by simply using bank interest, was it? I don't recall) - I'd say Ginko might last more than a year.

And crash with an incredibly resounding thud when they finally do.




So... Anshe, though I generally agree with your analysis, I'll take your bet.

With one symbolic $L, because I think they will crash bigger than you think.

Do you take it?



Offered: One (1) $L, that Ginko will still be repaying depositors 1 Dec 2006.

Signed and recorded for public witness on this day 1 Dec 2005, Desmond Shang.

I am willing to let it be held in escrow, if you wish

Is the Escrow A/C held with Ginko?

I keep my hard earned $L in a mayo jar under my bed guarded by vicious attack trolls.

This thread is not appropriate for the SL Forums and as such is being closed. Please do not start threads where the sole purpose is to post with an intentionally contrary opinion written with the intent of inciting or getting argumentative opinions, this is trolling. Forum Guideline copied below: