Stock Xchange Plan

Wow.. some replies!..

and some positive too
ty for ur support for the ones who do..
and for the ones who don't: We'll see you at the Stock Exchange in a couple of weeks...

To clear things up a little:
The plan was stock exchange at the first place.. only i thought the banknotes would be a good way to.. only that wont be (we discovered after some brainstorming). So SSE (Sl Stock Exchange) is the one and only plan.. read about it in the last big post of mine..

And Mike.. who knows whats on my rl account.. its rl, and this is 2nd... i like to keep things seperate and make good money and product without having to fall back on my rl funds.... call it my challenge

Why the hell would anyone want to buy Fake Lindens? At least when you buy stock, you are purchasing the future revenue stream of the company. Fake Lindens are shit.

IM me IW if you're interested in discussing. Unfortunately, I won't post my trade secrets on the forum for all to know.

UPDATE !!!

I AM NOT PLANNING TO MAKE FAKE LINDENS/ BANKNOTES..

ah.. needed to shout a lil


i hope its clear to you all that the stock idea is the one and only idea alive.. we are just brainstorming a little..

Soon there will be a website availible for SSE with all needed info... (and FINAL info)

Sophos,

It sound like what you're really talking about here is not a stock exchange (no stocks in any businesses are being exchanged, if I understand your earlier posts correctly), but a speculative game that really adds up to a new way to gamble in SL, which a lot of people enjoy. The only way to make money from these things is by trading them back and forth, right? And since each one has a sell-back value of only 90 percent of what you paid for it, you better start trading whatever you're holding if you want to make any L$, is that right? So why not make them trading cards with pictures of sims or builds or avi's on them? There are tons of sites where you can trade play stocks on the Web already, and you don't have to spend any L$ to do it. I think you're going to have a lot of trouble gaining any traction with this project. I bet you'd have better luck shifting it further into the gambling realm.

Just my L$5 (about US$0.02).

I will do that, Jacq. Thanks for the offer. I have no interest in doing i-banking in SL although brainstorming would be fun -- I am fascinated to see what can be pulled off.

I'll leave my Series 7 in the real world and keep SL about making avatars. WOOT

LOL you didn't really ask if LL traded on Nasdaq, did ya

I can relate completely. I admit to purchasing $L4k once. But what better way to determine your success than making money? Unless you are a weenie who is tryin' to fool yourself into thinkin' you be successful by hanging around anyway I like to do everything from within the game. Let's me know I'm winning.

Really man, good luck. If you make it work for a year, I'll open an acct w/ you myself.

Thats right.. everybody can buy L$ on IGE or GOM..theres nothing to it.. but only limited people know how to MAKE money in SL..

I've read through the thread and it sounds as if you've thought long about this plan but I think it keeps coming back to, 'why?' You started off by mentioning a stock exchange and then digressed into this bank note idea. Sorry but this sounds like Japanese Occupation Dollars from WWII. Not a terribly effective currency since everyone felt the need to exchange their occupation dollars to real American dollars at the earliest opportunity. The only thing that would motivate me to go along with something like this is if I knew my 'notes' were accepted throughout SL. Much like my Visa card. If I am a merchant (and I am), why would I want to accept notes when Lindens will do just as nicely and I won't have to track someone down to exchange to Lindens. Unless there is some sort of extension of credit built into this there is really no motivation to buy notes. Interest? How much will that be and again, who really cares about 1-2% passbook savings type interest on the paltry couple thou I'd deposit with you since I don't really trust you anyway. See my point?


Also, if I buy my notes from you what is the surcharge? What is the surcharge if I want to exchange my notes back to Lindens? How will that fluctuate? If this bank/exchange has tens of thousands of Lindens in their vaults and are the only game in-town, what controls are there to prevent a 1% fee from becoming a 5% fee?

A simple bank with investors and loan instruments might work. A stock market might work if we could really see the books of some of these businesses. Beyond that, the financial structure of this world has no need for these entities.

you can't make a true stock market in SL. plain and simple.

Stock markets revolve around company numbers, and ACCOUNTING numbers! I have never seen anyone in SL release public accountign figures in the proper manner. If you can get companies to do that, plus have a way to VERIFY this, then you are underway to the stock echange. Other then that it's gonna flop.

I am a Certified Public Accountant in real life, so if this idea ever takes off, I can sign off on the financials.

I also work in strategy at a Fortune 50 company, so I'd be happy to provide consulting advice to anyone who would like it for their SL biz.

Are you saying you will sign off on financials for L$ Jacqueline? What state are you licensed in?



_/_/

Noble idea but do you really want to be held accountable for signing off on such an enterprise in your position as a CPA. I'm sure if anyone gets involved in this they are going to want to see legally binding agreements. And if those agreements include tipulations re. CPA and adhering to FAS, you'd be in some trouble if your client(s) really don't understand what CPA, FAS and a bunch of other sexy acronyms mean

You're talking about geeks and other assorted part-time business people here with little or no sense of accountability. We all don't really own big clubs, shopping malls and banks. Think long and hard befor you jump into bed with people here. That CPA and your reputation are real -- this is not.

which witch is which ?
you should sell stocks to your new spelling school !

Merwan, I merely said I could sign off... I did not say I would. As a CPA, I realize that I have major liability if I sign off on statements that are materially mis-stated.

Most likely, if I were to actually sign off on statements, I'd issue a qualified (as opposed to an unqualified) opinion on them.

As for what state I'm licensed in, for now, that will remain confidential I don't like mixing RL and SL too much... but I understand if this got off the ground, I'd have to release my licensing info.

~Jaq

hmm..

duuh..

thats why we try to do something different.. ie following nasdaq stats, or maybe some other funds later... i know what stocktrading is irl..

all we need more is to resolve the technical side of it... who wants to help out on that??

Well, if you know what stocktrading is you'd see that Nexus is right and you shouldn't just brush off the message with a "duuh," even in jest.

What does, "following nasdaq stats," mean? You still need accountability and you still need an independent person or entity to sign off on those 'stats.' And that independent entity cannot be the person trying to get his stock exchange off the ground.

No, I'm afraid you have it backwards. The technical part is easy. Developing a structure that promotes trust and giving people a reason to get involved are your two biggest hurdles. I'd like to see them overcome. I'm not down on the idea, I just don't see a business plan here. I wish you luck with it.

i am not planning to make a profit on this project.. im trying to make something fun for some SL Players..

How about changing the name to "Sophos's Alternate Money System" ? That might make things easier.

Who can help me on the technical difficulties here???

*shouts for help*

Not to beat this thing over and over but could you give us a quick bullet point list of difficulties. I have someone in-world who is great at this stuff but hates the forums so I'd be happy to pass on your list to him.

ok.. well.. there need to be e link from the live nasdaq figures to a website AND SL...
and there needs to be a buy/sell option that varies to those figures..

thats the short explaination

note the part where i said that it wouldnt be a big deal if something happens. if u invest lets say... L$10k then ur taking a big risk *IMO* but if its like L$50 then y not give it a shot cause ur not risking much!

btw havent been on forums in a while which is y it took so long to "say hi!"

It sounds a great idea to me. One thing that's always bugged me is L$ have no physical existence, so personally, having objects with fixed values would be good. And i mean fixed- fixed according to the $US value.