« UNCANNY VALLEY EXPO: BRIDGET KUNGLER | Main | UNCANNY VALLEY EXPO: HAVER COLE »

Thursday, August 09, 2007

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Ordinal Malaprop

Oh, for Heaven's Sakes.

When Ginko started, people pointed out that it was utterly absurd. Throughout its existence, people have been pointing out that it remained utterly absurd, with no transparency in the slightest.

And now that everything has come to pass which was predicted - that the absurd interest rates were completely meaningless if any significant number of people attempted to withdraw, that really, the numbers meant nothing, the "reserves" were made up, it was all just another high-yield investment scam - there are "serious analyses" of the matter, as if this was a surprise? And there are, across the so-called SL financial press it seems, dozens of people treating Ginko as if it were a respectable institution that just happens to have fallen on hard times.

Benjamin Duranske (avatar 'Benjamin Noble')

Thanks for the note, Hamlet. Ordinal is right: it's been this way from the start. It took a bunch of problems hitting at once to tip it over, but at bottom, was all due to the greed of a few people. It's important to remember that they took around $100,000 USD out of this thing.

Anyway, I've gotten a ton of traffic off of these stories, and it seems odd to profit on somebody's loss, so while it's not much money, I'll take the $15 or $20 bucks that these are generating and go spend it at some stores of people who got beat up in this thing. I won't buy the bonds, because that's another story all together (they're forcing people to sell them on WSE and making money on the transfer fees - appalling) but I can buy my next suit from somebody who could use the cash. Shoot me a note, I'll drop by your place.

Thanks again for the link, Hamlet. And good luck to everybody hit by this. Most importantly, don't any of you leave over a bad apple or two.

HeadBurro Antfarm

I only came into this at the ned, but I seem to recall reading on their site that they were 'unregulated' (I can't remember the exact term used).

Unregulated. If that didn't flash a bloody great red warning light over them from the start, what would? " Hi, you don't know us. Give us your money and it'll be all safe and lovely. Now Sleep..."?

HBA
****

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Wagner James Au
Wagner James "Hamlet" Au
Dutchie Summer Special
Nylon Pinkney Outfitters in SL
my site ... ... ...

Classic New World Notes stories:

Labor Union Protesters Converge On IBM's Metaverse Campus: Leaders Claim Success, 1850 Total Attendees (Including Giant Banana & Talking Triangle) (2007)

All About My Avatar: The story behind amazing strange avatars (2007)

Fighting the Front: When fascists open an HQ in Second Life, chaos and exploding pigs ensue (2007)

Copying a Controversy: Copyright concerns come to the Metaverse via... the CopyBot! (2006)

The Penguin & the Zookeeper: Just another unlikely friendship formed in The Metaverse (2006)

"—And He Rezzed a Crooked House—": Mathematician makes a tesseract in the Metaverse — watch the videos! (2006)

Guarding Darfur: Virtual super heroes rally to protect a real world activist site (2006)

The Skin You're In: How virtual world avatar options expose real world racism (2006)

Making Love: When virtual sex gets real (2005)

Watching the Detectives: How to honeytrap a cheater in the Metaverse (2005)

The Freeform Identity of Eboni Khan: First-hand account of the Black user experience in virtual worlds (2005)

Man on Man and Woman on Woman: Just another gender-bending avatar love story, with a twist (2005)

The Nine Souls of Wilde Cunningham: A collective of severely disabled people share the same avatar (2004)

Falling for Eddie: Two shy artists divided by an ocean literally create a new life for each other (2004)

War of the Jessie Wall: Battle over virtual borders -- and real war in Iraq (2003)

Home for the Homeless: Creating a virtual mansion despite the most challenging circumstances (2003)