Second Life needs stable currency

Hi Anshe,

A few questions for you. My apologies if you've already answered them, but the noise of 18 pages of chatter is just a bit much to read through right before bedtime.

1) What rule of law is ANSHECHUNG Studios, Ltd., under?

2) Can your company put up a surety bond with a disinterested third holding party to insure against an event where the entity ANSHECHUNG Studios, Ltd. were to go into bankruptcy or receivorship? The bond would need to be held with the holders of the A$ having legal first rights. What percentage of transactions would you insure in this fashion? If not, how would you insure the A$? Stating that ANSHECHUNG Studios, Ltd. holds both the Silver Euro and the A$ begs the questions of transparency and of legal chain of ownership. Even E-Gold uses a seperate vault to hold their secured gold. (Goldfiger)

3) What independant auditor will you be using to verify the reserves and transactional integrity of trades through ANSHECHUNG Studios, Ltd.? Who will have access to those reports?

4) What will the fee structure be for: a) Account establishment; b) Account maintenance; c) purchase of A$; d) internal transfer of A$; and e) withdrawal of A$ into other national currencies?

5) What is your anticipated float? In other words, what percentage of withdrawable currencies (as compared to the Silver Euros) do you expect to keep onhand? If the account is backed by Silver Euros, then you will have to have a float of alternate currencies on hand to handle transactions. The percentage level of these alternate currencies will often determine the speed at which a request for A$ to, say, USD$ transaction will go through.

6) In relation to the question above, do you anticipate needing market makers to handle transactions, or are you going to act as the sole market maker? If you are going to use outside market makers, then how do you anticipate handling the questions of margin and accountability?

7) At what level will you be backing the A$ with Silver Euros? 1:1, 1:0.5, or a different ratio?

Will the A$ be a fixed currency, or will it be alowed to float somewhat? If it is fixed, then have you already anticipated the large scale stockpiling of A$ that may be necessarry on your end to effectively fix the currency without damage to it's liquidity?

(Yes, I am an investor, and we do ask a lot of questions.

Thanks!

-Catnip

During the past 18 months the value of L$ has decrease from 5 US$ per 1000 L$ to 3.33 US$ per 1000 L$. If this trend continues it poses one serious issue for investors and the economy in Second Life.

To address this, together with partner businesses both from land, service and content sector, we have designed one alternative currency for micro-transactions on the Internet, currently refered to as "Anshe$". Most components are already in place since 2 months and functional.

Features of this currency system:

o Value backed by silver Euro held by ANSHECHUNG Studios, Ltd.
o Central payment server that seemlessly ties into content vendor devices in Second Life and any other platform accessible via XMLRPC
o Full integration with Second Life land sale system
o Full integration with PayPal automatic debit
o Web interface and integration with major SL related shopping websites
o Online currency exchange market vs. US$, EUR and GBP

Since we have no interest in competing with Linden Lab we currently do not plan to introduce this currency and hope that the Linden$ will eventually become one stable and reliable currency.

However, considering currency devalution losses of more than 5000 US$ during the past 2 weeks, if the L$ drops further and reaches one level below 3 US$ per 1000 L$ (1:333) we would face insurmountable economic pressure to switch land sales, rentals and content sales to one more stable currency platform and offer the same opportunity to every other business in Second Life.

If you were to sell that land at a 300% mark up, you would be asking 18.12L/m2. (Remember a 100% mark-up would be double what you paid; a 200% mark-up is three times what you paid, and a 300% mark-up is four times what you paid.)

Obviously, no one is paying anywhere close to 18.12L/m2 for normal land.

... land markups up to between 300 and 400%....

I saw an 8704 Listed at 19.1 L/sq meter that was along a void advertised as waterfront.

Anshe is selling waterfront plots on that southern land mass for 15L$ m2

Eboni,
I saw an 8704 Listed at 19.1 L/sq meter that was along a void advertised as waterfront

and in that same sim a 81(96) ? I believe it was something like 8196 that was waterfront at 19.7 L/sq meter.

based on 290 Linden per Dollar
and 1000 dollars per sim
with 65,000 sq meters in a sim.

(290 * 1000) = 290,000 Lindens

290,000 / 65,000 = 4.46 Lindens / square meter.

It would have been purchased at roughly 4.5 Linden per square meter.

4.5 * 400% (or 4) (which is a 300% markup) = 18 Linden per square meter.

4.5 * 500% (or 5) (which is a 400% markup) = 22.5 Linden per square meter.

Thus the statement,



Which is a mathematical fact that was accurate 3 days ago.

Jessica

If you can't afford it, I'm sure you can find something cheaper, elsewhere.
Leave the southern land mass for us Rich Folk...

I will accept rancid coconuts before I will accept A$ as a form of currency.

So you never buy online and never subscribe to anything online ?
Well... you refuse paypal, check, wire, ... what else ?
Are you willing to find a solution, or just post here because being against Anshe's business is "cool" ?

Let me see if I get this correct.

1. You begin developing a new currency months ago right around when this steap decline begins.
2. You dump 2mil on LindeX at a new low rate while you already have your own and your hands in the SLEX.
3. You come in as the saviour of all business annoucing a new "stable" currency of A$.

Anshe, you came to be this high in business due to a large amount of starting capital. Outbidding everyone on the auctions up to a point that would ensure profit. Yet there were times when you would take a loss depending on the situation. That's business.

This looks dubious to say the least. As more people using the LindeX, more money was traded, things were quite stable, then BOOM things go to shit in a steady rate almost over night. Who has the capital to manipulate the exchange in such a way that months all we hear is the sky is falling? To scare other businesses into moving money into an Anshe controlled "stable" economy. You come here saying that you are one of us and has the most to loose in an unstable L$, but in reality you have the most to gain if people move to the A$.

We have already seen you manipulate the land economy with absurd prices at times, inflated value of telehub and waterfront land, and not to mention the selling of land to people who can't actually own it.

This is far more absurd then dreamland. I personally think it would be funny if people actually fell for this. Oh Anshe! Please save us from your manipulation of the currency exchange!!

This forum need serious moderation.
A lot of post in this thread are off-topic and i see that like an act of griefing, trying to discredit the subject posting random garbage.

it's a big ad hominem, http://en.wikipedia.org/wiki/Ad_hominem and :

An Ad Hominem is a general category of fallacies in which a claim or argument is rejected on the basis of some irrelevant fact about the author of or the person presenting the claim or argument. Typically, this fallacy involves two steps. First, an attack against the character of person making the claim, her circumstances, or her actions is made (or the character, circumstances, or actions of the person reporting the claim). Second, this attack is taken to be evidence against the claim or argument the person in question is making (or presenting).

Thoses kind of attack are (or supposed to be) against the TOS.

I didn't said ALL post are an ad hominem, and some ppl can have serious and real reason to not want an alternative ingame currency, other than "anshe is anshe so that sux"

i just said "a lot"

And... err... am i an anshe alt ? me ? seriously ?
Hey ! Anshe ! please share your wallet with your new lovely alt please

She's all about controlling SL. She tried to influence me to stay out of the real estate business. I can't imagine any other person I've met here doing that.

By posting this you have made yourself just as guilty as anyone else MAY be. Talk about the pot calling the kettle black.