In these turbulent days where the SecondLife banking industry is under high pressure, it is important for me to support Arbitrage Wise. Not only because he helped me with my challenge, but because he is helping all of the SL community with financial services.
Given how busy he is, his answer was short, but he nevertheless answered. Here is his message to you:
"Thanks John - just tell your readers to join our JT Financial group, read the announcements on Capex, and read our updates on SLReports.net to keep updated with our current situation..."
So if you're anyhow concerned by what goes on, you know what to do. Thanks Arb, and go on !
Monday, January 14, 2008
Saturday, January 12, 2008
Eggs and Basket
As Mr. Oh very appropriately commented on my last post, I'm putting all my eggs in the same basket, and it is true that last time (Ginko...) this strategy gave catastrophic results.
However the think is a bit different this time, because all of the banking industry in SecondLife is at risk with the new ruling LL seems to put in place. As I already explained a bank is vital for me to achieve my goal.
So if all baskets fall down, my eggs will be broken anyway. As I have not a lot of time, diversifying outside banking is not possible, so the fate of my quest is strongly bound to the fate of SL banks...
However the think is a bit different this time, because all of the banking industry in SecondLife is at risk with the new ruling LL seems to put in place. As I already explained a bank is vital for me to achieve my goal.
So if all baskets fall down, my eggs will be broken anyway. As I have not a lot of time, diversifying outside banking is not possible, so the fate of my quest is strongly bound to the fate of SL banks...
Wednesday, January 9, 2008
Banco ! All In JTIC !
The anouncement by Linden Lab to remove all ATMs except those from registered banks (?) created a huge bang and mini-panic on the stock market.
My personal decision is to call for "Banco !" and put all my money in JT Investment Certificates ! So I now hold 20020 JTIC shares and no "cash" on my SL Capital Exchange account. I made this investment for three reasons:
I wish new successes to JTF and Arb ! You have all my support, guys !
My personal decision is to call for "Banco !" and put all my money in JT Investment Certificates ! So I now hold 20020 JTIC shares and no "cash" on my SL Capital Exchange account. I made this investment for three reasons:
- Show my support to Arbitrage Wise and all the team at JT Financials
- LL's new rules seems to apply to interests, not dividends ;-)
- Thanks to some selling lemmings I could get JTIC shares for 0.65 L$ each !
I wish new successes to JTF and Arb ! You have all my support, guys !
Tuesday, January 8, 2008
LindenLab to regulate banks in SecondLife !
LindenLab posted yesterday on their official blog a post saying they will start to remove ATMs from SecondLide as of 22 of January !
The only way a bank could continue to operate in SL is to register with LL:
"We will not apply this policy to companies who submit a registration statement, charter, or other applicable license from a governing regulatory authority, or who are merely conducting marketing or education, but not accepting payments."
As a reaction, many people started to withdraw their money from banks, including from JT Financials and the SL Capital Exchange. Consequently cash withdrawals from JTF has been limited (see this post from Arbitrage Wise in the forums).
For the time being I do trust the team at JTF to manage this situation, even if I'm not really surprised by LL decision. My money is still by JTF and partly invested in SLCapex, and remember that even if the withdrawal stop may look "Ginko-ish" the reasons are totally different: Ginko was short of cash - JTF is not !
So no panic, and let's see how things will go on ! The LL decision is new, and JTF will submit for a registration, so the best for the time being is wait and see. There could even be good business to do !
The only way a bank could continue to operate in SL is to register with LL:
"We will not apply this policy to companies who submit a registration statement, charter, or other applicable license from a governing regulatory authority, or who are merely conducting marketing or education, but not accepting payments."
As a reaction, many people started to withdraw their money from banks, including from JT Financials and the SL Capital Exchange. Consequently cash withdrawals from JTF has been limited (see this post from Arbitrage Wise in the forums).
For the time being I do trust the team at JTF to manage this situation, even if I'm not really surprised by LL decision. My money is still by JTF and partly invested in SLCapex, and remember that even if the withdrawal stop may look "Ginko-ish" the reasons are totally different: Ginko was short of cash - JTF is not !
So no panic, and let's see how things will go on ! The LL decision is new, and JTF will submit for a registration, so the best for the time being is wait and see. There could even be good business to do !
Subscribe to:
Posts (Atom)
