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MaraRazor · 11-19-2007, 09:54 PM

Okay, I've made the not so brilliant observation that there are banks/investment groups in SL. Are they scams? Are they on the up and up? Which ones are best?

Fade Languish · 11-19-2007, 10:07 PM

At least two 'banks' have gone broke in recent times taking everyone's money. A SL 'bank' is nothing more than someone's else's avatar account. They are not regulated in any way, nor do they offer any security for your money. Don't do it.

jauani · 11-19-2007, 11:05 PM

did ponzi financial close shop?

Fade Languish · 11-19-2007, 11:18 PM

Quote:

Originally Posted by jauani

did ponzi financial close shop?

If you mean Ginko, yes... with US$750 000 of other people's money vanishing.

Ray Figtree · 11-19-2007, 11:23 PM

They may or may not be scams, but one thing is for sure: they are unregulated, uninsured and your investment is unprotected.

Learn from other people's expensive mistakes and stay far away.

Aodhan McDunnough · 11-20-2007, 12:31 AM

Outside of direct retail, mainland parcel ownership transfer, and the Lindex we have no mechanisms for binding contracts between residents. No contracts means no way to enforce, no way to secure "handshake" deals, no way to regulate.

That leaves us with a trust-reputation economy/business system.

That should be enough info to guide a lot of SL business decisions.

Quiplash · 11-20-2007, 12:50 AM

Quote:

Originally Posted by Fade Languish

If you mean Ginko, yes... with US$750 000 of other people's money vanishing.

YeeOUCH. People shoulda seen that one a-comin'.

I think I'll stick with investing in Céline Dion tickets.

MaraRazor · 11-20-2007, 07:50 AM

What's Lindex?

Aodhan McDunnough · 11-20-2007, 08:03 AM

Quote:

Originally Posted by MaraRazor

What's Lindex?

https://secure-web2.secondlife.com/currency/
It's the currency exchange run by Linden Labs where residents can sell their Linden Dollars to other residents for US$.

When you buy L$ using the blue L$ button, the Lindens come from the Lindex.

prinţesă nină · 11-20-2007, 08:03 AM

the Linden lab currency market.
the place on the sl website you buy L$ from.

Quote:

Originally Posted by MaraRazor

What's Lindex?

Kristian · 11-20-2007, 08:28 AM

Quote:

Originally Posted by MaraRazor

Okay, I've made the not so brilliant observation that there are banks/investment groups in SL. Are they scams? Are they on the up and up? Which ones are best?

The best place for your money is a brick and mortar bank. Unless you have a substantial RL sum to cash out and invest the safest bank in SL is your balance, or the balance of a bank alt if you want to make another Av just to hold cash.

Mordos Yering · 11-20-2007, 09:21 AM

Quote:

Originally Posted by Kristian Ming

The best place for your money is a brick and mortar bank. Unless you have a substantial RL sum to cash out and invest the safest bank in SL is your balance, or the balance of a bank alt if you want to make another Av just to hold cash.

I like the Alt Vault by Max Case.

11-19-2007, 09:54 PM	#1 (permalink)
MaraRazor Member Join Date: Nov 2007 Posts: 65	Banks in SL Okay, I've made the not so brilliant observation that there are banks/investment groups in SL. Are they scams? Are they on the up and up? Which ones are best?

11-19-2007, 11:23 PM	#5 (permalink)
Ray Figtree All good things One love. One heart. Join Date: Sep 2007 Posts: 1,197 SL Join Date: 5/13/2006	They may or may not be scams, but one thing is for sure: they are unregulated, uninsured and your investment is unprotected. Learn from other people's expensive mistakes and stay far away. __________________ Eckhart Tolle/Pema Chodron in '08! Pema's Platform Offline pursuing RL dreams.

11-20-2007, 12:31 AM	#6 (permalink)
Aodhan McDunnough exp(ln(Gearhead)) lim as x->0 of Geek/x Join Date: Jun 2007 Location: Philippines Posts: 3,732 Beer Tapper Gone Wild Champion! SL Join Date: March 28, 2006 Business: Aodhan's Forge SLShopper Ads: 2 My Mood:	Outside of direct retail, mainland parcel ownership transfer, and the Lindex we have no mechanisms for binding contracts between residents. No contracts means no way to enforce, no way to secure "handshake" deals, no way to regulate. That leaves us with a trust-reputation economy/business system. That should be enough info to guide a lot of SL business decisions. __________________ We can't get rid of Landbots but we can stop the damage. VOTE this proposal on the Jira. Current votes: 71 http://jira.secondlife.com/browse/VWR-2905 Kontours Classic 1-prim chair. Sculpted, menu controlled http://www.sluniverse.com/php/shop/s...ct=786&cat=500

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11-19-2007, 10:07 PM	#2 (permalink)
Fade Languish something here Join Date: Aug 2007 Posts: 1,245	At least two 'banks' have gone broke in recent times taking everyone's money. A SL 'bank' is nothing more than someone's else's avatar account. They are not regulated in any way, nor do they offer any security for your money. Don't do it.

11-19-2007, 11:05 PM	#3 (permalink)
jauani Star Chamber Captain Join Date: Sep 2007 Location: haunted labyrinth Posts: 764 Addiction Solitaire Champion! My Mood:	did ponzi financial close shop?

11-20-2007, 07:50 AM	#8 (permalink)
MaraRazor Member Join Date: Nov 2007 Posts: 65	What's Lindex?