Comments on: Bankplay Banned – High Interest L$ ATMs Must Go !

By: Timothy Zapotocky

Timothy Zapotocky — Tue, 22 Jan 2008 21:49:55 +0000

Actually SLIB is still in business, although they are of course going through a difficult period at the moment. They fortunately had a thriving real estate operation going, and they also did some consulting, so even now they still have some actual virtual cash flow. (I am a member of the SLIB customer group, although I never actually deposited any funds with them: I only bought land from them.)

By: Brent Wunderlich

Brent Wunderlich — Tue, 15 Jan 2008 13:03:12 +0000

This is a game. I should be able to put my L’s where ever the hell I want. If it is a scheme… so be it. Then I get screwed. LL needs to stay out of a game that they say should grow by itself.

By: Jew Nigruson

Jew Nigruson — Sat, 12 Jan 2008 12:32:50 +0000

lol @ Intlib saying one won’t earn money by putting into a real life, FDIC-insured bank if its in the U.S. Ever heard of a fucking Certificate of Deposit? Oh right, you were too busy stealing money from your father to pay for your dying “business” to l2p real moneys.

By: Tristin Mikazuki

Tristin Mikazuki — Fri, 11 Jan 2008 23:54:25 +0000

Not one of the whiners ever thought its my god damn money and I can do with it what ever the hell I want.

By: Witness X

Witness X — Thu, 10 Jan 2008 21:57:22 +0000

All I have to say is.

AHAHAHAHAHAAAAAA.

ITA, people get fucked over by scams earlier than expected.

By: TW

TW — Thu, 10 Jan 2008 14:14:39 +0000

“I would actually prefer I kept my money with me, simply because it is more accessible that way. Is it for security? Maybe, but you can never trust anybody 100%. Is it for revenue? YES! YES YES YES! By depositing your money into a bank, you are basically investing in that bank, who, in turn, gives loans, purchases real estate, etc, and the interest and inflation it makes on that goes back to the customer.”

This is insane. Since what date in history have you accomplished a decent return on investment with a RL Bank (Savings/Checking)or even the in-house security investments?
What country? You certainly didn’t do it in the last 10 years in the United States. Give me a break. Another cop out for wanting a fast buck. Real investors do not invest into bank accounts. In fact, they try to stay as far away from them as they can. You are not investing into a bank by depositing your money there either. I hope you have better banking and investment portfolio ideas in real life or you are doomed to failure.

Indeed, no reason whatsoever for a virtual bank in SL.

By: RoFLKOPTr

RoFLKOPTr — Thu, 10 Jan 2008 02:44:53 +0000

@Curious:

“Besides, what do we need banks in SL for?”

Are you retarded? Now, don’t get me wrong, I do believe banking quasi-real money inside a not-real-at-all game is a STUPID IDEA, but, even stupider, is your lack of ability to comprehend what a bank is for. What do you need banks in RL for? Is it for a place to keep your mounds of jewgolds? No… I would actually prefer I kept my money with me, simply because it is more accessible that way. Is it for security? Maybe, but you can never trust anybody 100%. Is it for revenue? YES! YES YES YES! By depositing your money into a bank, you are basically investing in that bank, who, in turn, gives loans, purchases real estate, etc, and the interest and inflation it makes on that goes back to the customer. The same thing goes in Second Life (except loans seem to not be given, and real estate is portions of a hard drive). I lose hope in humanity when I read comments such as yours failing to connect two basic principles of economy: “Interest” and “Income”. When interest is high, income is high. See, the few smart people that play SL for SRS BSNS have made the connection and invested large sums of cash, and made quite a bit of money, and cashed out. It’s still a stupid thing to do, due to the outrageous risk involved, but it’s still a feasible option. I hope I made those points clear to you, and, please, before you make another presence on my internets, lrn2smart. kthx.

By: Kahni Poitier

Kahni Poitier — Thu, 10 Jan 2008 00:02:51 +0000

Exponential: How do these banks make money besides deposits?

What, giving loans? Mortgages? Value-added services?

It’s a ponzi scheme, and you know it. Quit defending it.

It’s fraud, and you know it.

By: Aloe Stradling

Aloe Stradling — Wed, 09 Jan 2008 23:57:15 +0000

Every time someone says the words PONZI SCHEM take a drink.

By: Exponential Growth

Exponential Growth — Wed, 09 Jan 2008 17:52:58 +0000

Its clear that Dan Linden is a lawyer, lawyers generally have zero economic understanding, they live by the idea that the only way to make money is to sue someone for it or steal it, a modern form of pillaging and conquering.

SL is an exponential economy. It grew at 1000% last year. Offering 20,40 or even 80% annual interest on deposits is not only “sustainable” if the bank is responsibly managed, it is a rather miserly interest rate to pay if the bank is able to grow by 1000% in a year on that money.

SL is exponential in its growth because its an info economy. The only scarce resource here is our creativity. If LL says such interest rates are “unsustainable” then what they are really saying is that WE are no longer creative and SL is doomed.