This just in…

Banks are out! Well, not that SL had any ‘banks’ to begin with, as many logical people viewed them as Ponzi schemes.

And also, not officially out of SL, per se, but pretty much all the ones we know of at the moment will have to pack up and ship out effective January 22, 2008, according to a recent blog post on the official SL site.

As of January 22, 2008, it will be prohibited to offer interest or any direct return on an investment (whether in L$ or other currency) from any object, such as an ATM, located in Second Life, without proof of an applicable government registration statement or financial institution charter.

Ouch. Can you say FDIC?

No one can say this is a surprise in coming, right? I mean, given Linden Lab’s usual mode of operation, they did post a subtle, cryptic foreshadowing warning post back on January 2nd of this year, and sure enough, this policy implementation now coming soon thereafter. That’s how LL does things, dontcha know – they give little hints, like about gambling or age play, and then before you know it, it’s the law. So nice of them to ease us into effect like that.

If you have large sums of money in SL banks, we’d love to hear how your withdrawals are going. Personally, I have a whopping L$253.78 sitting over at the International Stock Exchange just waiting for me to get my greedy little hands on it before the financial system crashes and burns. (Yes, that’s right, in the past four months, I have accrued L$3.78 of interest on my L$250 deposit – I know you’re kicking yourself for not being as risky of an investor as me.)

Also, SL posts news of change to the search function tomorrow. Why am I guessing it’s not the change they promised long ago – wherein they were going to prohibit classified ads from showing up under the events listings? It’s annoying searching through all that classified ad spam when all you really want to know is when you can expect to go watch the next “Best in Bottomless Bikinis” event.

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~ by Wrath on January 8, 2008.

10 Responses to “This just in…”

  1. Does this mean there’s a bank run going on right now? Where are the photos? I want the photos of the angry avs crowding the bank windows demanding their L$! And then the SL version of George Bailey saying “Now, now, just hang on a minute there. You can have your money but you’ll have to wait a little, see? Because it’s not here, it’s over there in Scion Island and it’s in advertising on Linden Lifestyles and the Avastar, it’s what makes Second Lif—BANG!” (CAMERA CUTS AWAY DUE TO EXTREME HORROR AT THIS LOUSY COMMENT WRITING)

    Is a bottomless bikini a nokini? Or does it still have a top?

  2. Nice one Wrath. I can’t find a single thing to make fun of here. Well played.

  3. I was at Whitfield bank yesterday, and there was a large angry crowd there, and yes I had a HUGE amount of money in several banks. But I aint gonna cry over spilt milk *shrugs*. It’s worse that the ETD sim is full!

  4. A bottomless bikini ceases to be a bikini. One could call it a monokini, but since these are usually topless, maybe we can opt for the term ‘inverted monokini’.
    As for the banks… as with the gambling and the kiddie porn, another wake-up call for those who still believe you can stake out a corner of cyberspace and do what you like. You can’t. Wake up, Rosedale, you’ve developed a game, not a new world.

  5. Damn it!!! Good post Wrath! *puts both fingers to eyes & then points at you* I’m watching ya buddy.

  6. Listen here, you Mean Girls®, I am working on a purely opinion-filled article which will give you plenty of cause to discuss amongst yourselves! You’ll be able to take it personally, you’ll be able to shoot down all the flawed theories in it, you’ll be able to rage against it, you’ll be able to wipe the tears from your eyes from all the sincerty in it, you’ll be able to tell all your prim-grandchildren about it – I just had to wait until JB was back from vacation and not distracted, is all. 😛 Stay tuned, sheesh.

  7. *wipes her eyes from all the sincerity in it* I love you, man!

  8. Couldn’t care less about interest rates, return rates etc.

    Sooner or later the law would have stepped in anyway.

    As long as neutral exchanges are allowed (like Dutch Exchange, where Europeans can buy lindens without credit card or paypal bullshit) – that offer no interest rates, offer no stock exchange stuff, and are registered as actual businesses (which DutchX is, they’re registered with the Chamber of Commerce) – then I’ll be happy.

    And I agree with you on the search ;D I want my Bottomless Bikinis events 😛

  9. I agree, Daman, it was very obvious the SL banks would not have passed legal scrutiny in their present form. I think the Linden Lab policy is almost one of “It’s all fun and games until someone complains about losing a lot of money” before they decide which RL laws they should apply to SL.

  10. Nothing to make fun of? Then I’m outta here….

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