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Monday, June 21, 2021

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Joey1058

When Bitcoin was new, I was mining on a desktop. I had accumulated at least 6 whole BTC. Back then there were dozens of exchanges that would swap fiat in any denomination for L$, or IMVU credits, or Gaia gold, WoW gold, etc. Early days. I personally considered the L$ to be more valuable than BTC (L$-0.004 compared to BTC-0.00000010 if I remember the price when I got in. Don't quote me.). An exchange I was relying on was VirWoX. I would buy L$ with BTC. When I finally sold the last of my whole BTC, I got $60. I thought I got a great deal for play money. Yes, I had my Pizza pie moment. I do try to shrug it off. FinCEN stepped in and wiped out the online game exchanges shortly afterwards. The point of this is that either nations or individuals using BTC as purchacing power aren't thinking too clearly as well. If you must use a crypto for purchases, at least use a stablecoin. Frankly, I could see the likes of the Linden dollar, or IMVU's VCoin, or even Entropia Online's PED being traded as stable crypto on mainstream exchanges like Coinbase.

Joe Guy

Yes but.....

Keep in mind that once we could gamble with L$ then one day the feds visited the LL offices and the next day we couldn't.

The lesson is, respectability means accepting a collar, and some people will not.

Johnnie

For those living outside the US the Linden dollar fluctuates just as much as the US dollar and could not be considered stable any more than the US Dollar is. And with the recent takeover of LL is likely to become more circumscribed not less. The result for many of us non US players is that we either don't spend in SL or have moved to OpenSim muves.

Wagner James Au

"the Linden dollar fluctuates just as much as the US dollar"

You mean because many/most global currencies fluctuate in value related to the US dollar?

Alazarin Mobius

Every time someone talks up cryptocurrencies, I keep thinking back to the Ginko Bank debacle.

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Wagner James Au
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