Alice and Bob are participants in an economy. Alice has a dollar. Alice gives the dollar to Bob. In Second Life terms, that’s a user-to-user transaction. Bob gives the dollar back to Alice. That’s another user-to-user transaction. Repeat this sequence four more times. Is Alice and Bob’s economy now worth ten dollars? Or is it still worth one dollar? Well, that … [Read more...] about Alice has a dollar. A virtual economic failure
finance
Linden Lab issues further warning on virtual currency trading
In a Linden blog post today, a further warning has been given on use of third-party Linden dollar trading sites. It's all pretty much common sense - if it looks to good to be true it probably is and if you're asked for your password by a provider then let the alarm bells start ringing. The introduction of a system of registration to provide alternate currency exchange … [Read more...] about Linden Lab issues further warning on virtual currency trading
World Stock Exchange facing legal problems?
The Second Life Herald are running a story on the Midas Bank saga, alleging that Midas have done some legal investigations around their issues with the World Stock Exchange, run by Australian Luke Connell (LukeConnell Vandeverre). If the issues aren't resolved and things do go legal, it'll provide a fascinating test-case for the status of finance in virtual worlds and … [Read more...] about World Stock Exchange facing legal problems?
Stock Exchange churn continues
The near-farcical nature of the multiple stock exchanges in SL continues, with the delisting of a number of companies on the fledgling ISE (International Stock Exchange). A number of these delisted companies were refugees from the World Stock Exchange and they now state they'll list elsewhere. The obvious question is - why would anyone have confidence in any virtual world … [Read more...] about Stock Exchange churn continues
The wolves are out for WSE
Over the past 24 hours reports have started appearing around companies delisting from the World Stock Exchange and moving to smaller competitor ISE. The impetus was the theft reported last week. What hasn't helped is the current trading halt: We've had some brief IM discussions with WSE Chairman / CEO LukeConnell Vandeverre about setting up an interview in order for him to … [Read more...] about The wolves are out for WSE