The virtual world is imitating the real world.

January 19, 2008

Linky

So the banks in second life offered really high interest rate returns.

Now the banks are defaulting.

Has the simulation worked too well?

Should we bail out these banks?

Wow, I could rattle about this all day.

Enjoy the holiday.

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2 Responses to “The virtual world is imitating the real world.”

  1. Nate Lowell Says:

    The interesting idea here is that somehow, the banking regulations in RL apply in SL. I realize that Lindens are a real currency, but whose banking laws should have sway. This new policy doesn’t bother me much. Other than to feel sorry for the peeps who don’t get their L$ back from the banks.

    The *real* issue was the gambling ban.

    That took about 1/3 of the low-skill/no-skill jobs right out of the metaverse and made it very difficult for new folks to “make a living” inworld. As a result many people who might have gotten involved, see the space as just another way for Linden Lab to squeeze cash out of an unsuspecting populace and bail out without really understanding the dynamics.

    It should come as no surprise that other, less savory and more controversial professions are on the upswing.

  2. madscientist76 Says:

    Wow!

    As a non SL player I was not aware of all of these dynamics.

    The virtual versus real world banking laws still is amazing, I see virtual currency to become even more valuable in the future.

    Could a virtual currency eventually sidestep international banking laws?


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