Stock Xchange Plan

I'm still waiting to see how this is any different from the L$ we have. If people have to spend L$ on these bank notes, then de facto they are part of the economy. Period.

il tell ya... i want an in-game stock exchange.. and this is by far the easyest way to make it real.. IN-GAME.. not on some website outside SL... and no.. theres nothing in it for me except my head on the banknote

I can understand ur concern about who has to run this kind of stuff.. Well.. i would agree if i would be in ur position right now, and vv..

But as i said.. its no must.. one can buy the banknotes.. if they trust me.. If someone doesnt trust me.. then he/she shouldnt buy banknotes..

Okay, if your goal is an in-game stock exchange, which is what I originally though, i see no reason why you need these bank-notes.

Stock certificates, perhaps, yes.

But bank-notes offer no extra benefits and only additional work and risk.

I would suggest you drop the bank-note idea and focus on the stock-exchange idea. I do think that's something that people might want to do - investers could invest in SL businesses that they feel will make money, and businesses can get monetary backing for bigger ventures.

This could even be applied to shared land - where land renters could deed out land and the renters have something backed by L$ to ensure that they aren't screwed over.

the stocks really is the core of the idea.. ur right there..

stocks in companies have to be published and all and we would probably need an external website to do so.. this was the original idea, but i though the banknotes would be easier..

another idea was to follow the AEX or NASDAQ .. people could buy "stocks" for the price the nasdaq is at (live) and sell them again.. but we would need an external site too.. or a place where the trades can be done.. only what will be traded???

at this point i thought of the banknotes...

the land is something i dont wanna mess with LOL.. otherwise i will get anshe banging on my front door here.. screaming whahahaha

Oh, so you mean the stock market would be for for real companies? It'd be basically a game?

Why don't you just give people a default starting amount, and then store people's fake-money as just variables?

well.. if thay would want to exchange the starting amount again i would be broke in 1 week...

i could give all appyers 5 stocks in the SSE, witch is following the nasdaq.. but that would cost me loads of cash..

i prefer selling stocks.. not physicly objects.. that follow nasdaq 1:1 on a website of some kind.. being linked to objects in SL where to sell/buy stocks.. the Av must be linked to the SSE system in that cas.. but i think that wouldnt be a problem for a good scripter/database-builder.

we could place stock tickers all over SL, or even spread them for people to have at home... i would have to set a fixed amount of stocks to be able to sold initially.. after that the trading goes between avatars..
1 setting a certain amount of stocks for sale.. and the other buying them for the live price..

that would be much better then the banknotes

Or they could have no L$ value and you can give out unlimited? I mean, if your idea is just for people to play and learn the stock exchange, then why sell it? Why not just have people play with completely virtual money?

You could still make a profit by selling this virtual money ... a few hundred linden or so.


Oh I see why'd you want the banknotes, now. Took a little getting around to figure it out.

I think an easier solution would just be to have an XML-RPC interface to a webserver so that people could compare themselves with other players instantly. All transaction and money information could be stored and calculated there.

.. ok.. thats even better..

i've been thinking while on lunch

I think the stocks should have a real value.

This is not an ingame-game plan, coz that wont work with stocks.. people will just buy/sell wrecklessly.. i suggest peope have to buy 1 out of 1000 stocks for the current live value of the Nasdaq.. (is LindenLabs on there? and i would donate the first cash to a good cause...

after that we can be certain the stocks are being valued by the players..

if i would just give them away, the stockmarket would freeze after all stocks have been given away.. coz nobody is gonna buy anymore.. only sell.. who would buy for something they could have gotten for free the day before?

Sophos, how about we try convince your bank to open one store front / terminal in Second Life? Wouldn't that be groundbreaking?

I believe it is about time some real life businesses start experiment with interfaces to Second Life. And banks would definitely be one good example since their whole business is kinda virtual already. They don't cook or deliver hamburger, all they practically do is send bits and byte from computer to computer. Just imagine you sit at your Second Life beach, hugged by your cutey and can manage your stock

Sophos,

I am SL's first investment banker and have underwritten L$64,000 worth of bond offerings. I've also assisted in the leveraged buyout of several SL businesses.

However, when it comes to a virtual stock market, I've hit a wall. To date my efforts have yielded no co-operation from LL, who do not seem to want to be involved in a virtual stock market. I've also had little success from individual investors, as they require guarantees that their money won't be taken and "ran off" with.

I'd be happy to partner with you on this venture, but I must say, its going to be a difficult process.

As for the bank note idea, why would anyone care to speculate on them? With no underlying security, L$ cash is king. I think you'll find that is the attitude.

wow... so pessimistic... if you get past some problems that miught occur and people that just want to shut this down, its a good idea. one thing is... maybe it can be a small scale one and have like play money but its real. let me explain... L$10 could buy FL$100 for stocks where FL$ is fake linden dollars or what ever your going to name it. that way if something DOES happen, it isnt such a big deal. also you can have a code that each thing has individually only if it is rezzed by the stock thing giver outer that way if someone manages to copy it, it sends the code to a website and their account there gets disabled (have a warning about this) this will only happen if there are 2 of a code sent. XML-RPC maybe? iunno. i think this could work and if you DO do it, good luck ^_^

You know of course i didnt read through all the post i just skimmed them and checked who posted here.. first off sophos dont let it get you down most of the people that posted here are negative people to begin with and no matter what you make they will know a better way or have already made a better way...or so they think.

I have tested a program for someone that greatly mimiced your idea and it worked great.. very addicting because of day trading but was great!

Sophos, this project makes no sense.

And I wouldn't trust my money with an aimspeaker.

Oh man, I could really use a good sock exchange. I haven't changed my knee-highs in a week. U R my Hero!

I am interested in some sock garters. My socks keep dropping and I want them to stay up.

remain a bit puzzled here. At first it seemed like you wanted to add a second currency to SL, and have a currency exchange (not a stock exchange) to trade L$ and your banknote. This would be, of course, be useless. Then it seems that maybe this is a test for a stock exchange. Then it seemed like you were talking about mimicking an index fund in-world.

The real stock exchange is essentially securitizing the earnings and ownership of real world companies and then letting that security trade on an open market. There are strict rules as to who manages the exchange, how people can launch new stocks, and how trades are made. Stock owners get value either though dividend distributions or through the sale of the business (debt holders get paid, then preferred shares, then common). You also make money by trading stocks, but those stocks only have value because there is something behind them.

To make your stock exchange, what are you securitizing? Who's earnings? What value?

This is not even getting into the issues of shareholder voting rights or legal protection.

jacqueline -- interested to know how you did a bond issue? What backed up that security? What coupon and term? Curious.

hmmm if you just want to have fun speculating on stuff... why not create a futures exchange based on SL events, not unlike www.tradesports.com . Then you can gamble on who wins a Neualtenburg election, or who wins the snail race, or whether there will be more/less/same number of clubs in SL in 3 months....

I hate to rain on everyone's parade here, but I feel I need to point something out.

We are talking about money here. This guy presented himself as working in the field. And then he said he can't afford to mess around with cash in SL. If he worked for a bank in any capacity that was relevant to this discussion, he'd have enough cash to toy around with a small amount in SL for his project. A bank teller is not qualified to run a financial institution..

That's about the end of the discussion for me. There is no room for jokers here.

I further don't see trading happening with anything other than the linden dollar. It's just too easy. Introducing objects into the system makes it vulnerable to all the things that objects are vulnerable to and that our balance is not.

Would love to see a GOM trading floor within SL though. That is something that maybe someone who is not a bank executive could handle.

Mikey my friend.. thats false.. I do very very well in rl and i dont have money to do alot of things.. not because i cannot afford it but because it would be a conflict of intrest or just bad joojoo to do.

hehe, well if he really is some kind of financial advisor and can't toss a bill or two into the system as lube, I am not gonna trust him with my money. That could mean he's not very good at it, after all. I hope that doesn't make me a snob, but that is the way I see it. And I am not one to shoot down random ideas like a sniper.

And it's not personal either. If you wanna get involved in something like that, knock your lights out. I hope you make a million.

im going to try and catch up with this guy later and see what exactly he is trying to do.. if he needs $$ i might just throw it out there to get things started.

good to see someone else believes in giving people a chance!

I think you will find that people aren't likely to place great fiduciary trust in someone who spells "you're" as "ur". This is not a spelling flame, but rather an analogy to a "banker" wearing the forum equivalent of ripped jeans and a Metallica t-shirt.

How did that Steve Martin bit go? "Yep, I'm Fred and this is FRED'S BANK. You wanna make a deposit? Sure! I'll put it right.... here... left breast pocket of my grey suit."

But, as others have said, "knock yourself out" - to which I add "woe betide anyone suckered into this scheme".

I'd just like to add that I really doin't mean anything mean by that. We are talkin' about money. Not some toy, or some little cool something or other, but money.

This place is filled to the brim with people who have big ideas but lack the clout to make it happen. If someone wants me to have faith in their project, I can do that. All I require is some indicator that they can make it happen. I haven't seen that. All I've seen is a message board post from someone who presents himself as some sort a financial advisor (implied, not stated), but doesn't have any money. That's a red flag for me.

If this really happens, it hope it turns out to be all everyone wants it to be. And that's the truth.

Well hun you do realise that some people are like me.. the forums are a diff game.. i look at the forums totally seperate as in world.. you might be suprised that some people in world even think im a good guy..ahh the liars!