BREAKING NEWS From GOM

I just received the following email:

We regret to announce that Gaming Open Market will be stopping all
trading of L$ effective 10pm eastern time Sunday October 2nd. After
that, the site will remain open long enough to allow everyone to
withdraw their cash and L$ balances.

This choice has not been made lightly. However, we feel that closing
the L$ market to concentrate on other projects is in the long-term best
interests of GOM.

Thank you all for taking part in what was for us an interesting
adventure.

goodness

coco

Welp, I'd say now we know who was liquidating.

What kind of alternative markets are available before LL bakes in thier own solution?

Holy sh*t

I'll check in on this thread from time to time. I'm here to clear up this first misconception.

I just want to make it completely 100% clear that the liquidation was *not* done by us. Nor did anybody but Jamie and myself know that we would be closing the market until this message was sent.

Believe it or not, but we didn't even *have* any L$ to liquidate! In fact, we've had to actually *buy back* over L$100k due to the fact that the XMLRPC communications between SL and the outside world have been flaky for the past month, resulting in a slow leak of L$ due to people making ATM withdrawals that never registered with our server.

Edited to say:[Just so everybody knows, if customer service has been a little slow over the past month, I apologize. It's because I've had to audit every transaction manually to try to catch those XMLRPC-related leaks. Not fun.]

Well well well, the $L finally crashed to the bottom.

Ricky & Jamie,

I would like to wish you the best of luck in what ever you decide to concentrate your efforts next

Perfect example why an issue as important as an economy's currency should not be left to the whims of one currency exchange, much less two individuals.

Thanks a lot, Hiro.

We've got a ton of great ideas up our sleeves. You never know what the next thing to come out of GOM Inc. could be...

Thanks so much for chiming in! Really appreciate it!

I wonder what this does to Ginko ??

Perhaps someone else could take over GOM, rather than
requiring someone else to build it from scratch?

I don't mean to undermine your efforts Ricky. It's not personal, please don't take it as such. GOM did what they felt they had to do and I understand that. It's business.

It is risky to have an economy's currency dependant solely on one currency exchange and two individuals, as opose to several competing exchanges, and perhaps boards of directors backing these exchanges. Its all about accountability.

If I am wrong then I stand corrected.

But that's down to no one else but SL residents. Feel free to set up your own currency exchange

I believe this is what LL is attempting to facilitate. Yet, they have been chastised every step of the way. Perhaps now critics will realize the "evil" in their ways.

Hmmm I always wanted to know what the sound of a thousand sphincters puckering sounded like!

Or you could look at it that their actions led to this, and tbh I don't blame Ricky and Jamie.

Chastising LL or GOM is hardly going to help anyway, seems pointless to state the obvious, that it's dangerous to rely on one currency exchange. Instead we should be looking at what we will do next.

Well, if their main source of income/interest came from
currency trading, then a lot of people might pull out.

My concern is that with no open market, SL residents could be held to ransom by the likes of IGE.

Um, yeah.

I code by profession, our company is a webhost/design company. I would seriously entertain the idea of relieving you guys of the burden of work done so far.

If you are interested in entertaining this idea, by all means contact me ASAP.

Hotlined...

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Having just received the mail myself, and having gotten no other notice from GOM, I am equally surprised and disappointed. We will do everything we can to get a solution in place as quickly as possible, and provide a mechanism for residents to keep doing currency exchange. Hang in there.