Ginko bank gone ?

Ginko bank ATM's are not working and the ginko web page seems to be down too .

Anyone else having problems ...or am i the only one ?

Time : 00:37 25/06/2007 BST

I don't have a Ginko account, but I can't access the webpage either. Looks like it IS down. I hope it's not a big problem!

Thank's Raudf , At least now i know its not just me

Im sure it will all work out

Wait's for the hord's of people all shouting " THEY HAVE RAN AWAY WITH YOUR MONEY ! " ehehe

Well this is frightening. ATM is still up in my freebie paradise, but is not functioning. I hope this is just a little problem that will be fixed quickly.

Hi Sarah Let's not panic just yet ... its only just gone down .

Yea I'm pretty confident its just a tech problem. Ginko is the only sl bank I trust because they have been around longer than me. The tidbit of panic only comes from the fact that I have a good hunk of my funds in there.

I can imagine a few situations that might bring it down.. including a power outage in their area. *shrugs* I figure if it's not back within 24 hours, then it's time to panic.

Intrest rate just went up the other day too

ehehe ...i give it 24 hours and all will be well

Still nothing

*tension mounts*

Your funds or SNE's? If SNE, was this use of funds disclosed to shareholders?

Seems like a big risk, even though the interest rate is attractive.

Fantastic question, i too would like to know the answer

My personal funds, I have had a Ginko account since I was only a few months old in secondlife, long before WSE was even thought of.

And Ginko is back up and running.....

SL banks are scary, lol.

Probably becuase they are not banks - just another form of gambling.

Yeah. Definitely not worth the risk, in my opinion. While Lindens are more expensive now than they were a year ago, they are still pretty damn cheap to just buy what you need.

ikr I wouldnt put any money in one.

I dont like threads like this....start reading it...panic...read a bit more....panic..panic......read a bit more, and it's all ok.....and relax

I'm going to research this for my own personal funds. Might be nice to see what it's all about. Before anyone says anything, all banks are a very mild form of gambling. Anyone remember the Savings and Loans crisis in the late 80's, as an example?

I think Ginko's age and continued service makes them the most reputable bank in SL. I've had up to a million L$ in my account before now and I dont think you can get any better endorsment than that of a satisfied customer.

Still doesn't take the risk out of it. If the owner decides to up and get greedy, a buncha people could be kissing their million Lindens goodbye.

No more risky than buying land in SL or investing any other rl money into the game. LL could abolish the L$ in a heart beat and would be perfectly within their rights to do so. I trust LL not to becasue they have a vested interest in keeping the L$ strong and keeping the game running, plus ive played SL for years and that trust has built over time. just like I trust ginko who are motivated to keep my money safe to support their projects and investments for the same reasons.

Difference is, the owners of LL have a whole lot more at stake in terms of reputation and prospective future business than the owners of ginko do. You can't compare teh two in terms of riskiness.

Also worth noting.... ginko could fold and SL willl continue as before. If LL folds, ginko bank isn't going to carry on business. That alone makes ginko inherently riskier.

Not to mention that , One decent run on the Ginko Bank would put them out of business.

Add to that the fact that most "banks" and "investment funds" pay the interest rates from the proceeds of buying cheap mainland and carving that up into those nice little ad plots we all love.