Written on October 21st, 2007 by Chino
Avoid depositing your lindens in banks
Earlier, a problem with the database of Second Life occurred. This is with regards to transactions of lindens. Now, what I am saying is "Avoid putting money on banks for now" Especially through ATMs because just an hour ago, I deposited 2000L$ to SLCAPEX’s ATM via Devil ray and until now, it has not appeared to my account in slcapex.com. However, my account history via SecondLife.com shows that I did deposit the money.
I lost 2000L$ because of a $^)&!# error or bug. I just hope this helps lessen the case of lost money.
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Posted in Miscellaneous |
[...] Check it out! While looking through the blogosphere we stumbled on an interesting post today.Here’s a quick excerptNow, what I am saying is “Avoid putting money on banks for now” Especially through ATMs because just an hour ago, I deposited 2000L$ to SLCAPEX’s ATM via Devil ray and until now, it has not appeared to my account in slcapex.com. … [...]
I wonder then if it’s safe to have your lindens with you. Didn’t we hear that some avatars lose all the things in their inventory? Well of course we don’t put our lindens in our inventory, but it might happen to our lindens too if we’re carrying it.
I don’t think there really is a “safe” way, so to speak to keep our lindens as it’s all electronic. For all the database knows, they’re just numbers.
oh i feel sorry for sucha rich man like you to loose 2000L$ but for myself its not a big deal ….because i never earned soo much !!!!
I dont see much difference in SL and RL when it comes to keep you things safe….the “theivies” are present in one form or the other in this case the stupid bugs and errors what needs to be done is hire some more people with brain pay them more keep them happy and in turn those guys will help us keep our things safe….LL guys dont forget to read this please.
Enjoy,
Adi
More often than not though, programs, especially complicated ones, produce unexpected bugs due to syntax sequencing. The receiving end of the effect of these bugs mostly are the records in the database.
These programs are being monitored, that’s why we hear of upgrades.
Chino can report this to the management. But maybe, it was just some sort of delay, that was why the numbers didn’t show up.
I hope you get it back Chino.
I’m sorry to hear this Chino. Is there any way you can file a complaint or something to get the deposit back?
I already have it back. They fixed it quickly. It’s now okay.
I already have it back. They fixed it quickly. It’s now okay.
I had the same problem last night. The transfer was denied but I didn’t get my money back. I sent a ticket to LL and they said they can do nothing. No response from JTF yet but I guess they wont be able to do anything about it either. I was lucky I only wanted to deposit L$55. ;o)
I hope you got your money back too. Well, it’s fairly a small amount or lindens but I can distinctly remember the first time I got 20 lindens. I was on cloud 9! (lol) Pathetic I know.
They’re only hurting their business if they allow this to occur without first resolving the customer issues.
Well, a programmer friend told me not to trust online banks, which reminds me, have to withdraw my money out (lol).
I dont belive in depositing or keeping my money anywhere else then myself. I earn and I use it keep just L$1000 with me everything else is used in anyform it could be uploading tex for my creations or simply anything.
ENjoy
Bye
Adi
Well, that’s an idea. But mostly, I don’t need anything. I’m that way in RL too. I just need the basics. I’m low maintenance. But I’m addicted to books :).
So basically, that’s what I do in SL. But hearing this makes me think differently.
Oh well, time to withdraw the lindens. I keep forgetting (lol).
Lol how do these banks make a profit anyways? Is it all through advertisements?
I think there’s a loaning system and some go into some kind of a business. A corporation is supposed to be a different entity from its owners so it can exchange into a business using the business’s name.
It’s safer to have your money on your Avatar. You shouldnt keep your money in SL banks or any other SL financial institution. There is simply NO PROTECTION.
I dont know why this hasnt been discussed, but the Merlin Investment Bank pulled a Ginko about a week ago. This bank offered one of the highest interest rates in SL at .30% daily. All of a sudden the owner Investor Merlin seems to have disappeared with everyones money. Reports are mixed, but its around $15,000-$40,000USD.
One of the SL stock exchanges also had around 3 million Lindens stolen recently.
Ginko ran off with a ridiculous amount of money some time ago as well. Linden Labs either doesnt care, or cant do anything. You can steal with impunity. At least in real life you run the risk of getting caught.
At this rate, the best money maker will be:
a) Open Bank
b) Gain everyones trust so they deposit Lindens
c) Wait until there are 10-50mil Lindens in bank
d) steal the money.
Hey CHINO, maybe I can post a more detailed “how to” guide. LOL
Want to keep your money safe? Spend $10USD on another Avatar and put your money there. Dont touch anything. Dont click on anything with your “Bank Avatar.” Just transfer money to your main avatar as needed.
Bank avatar, huh? (hehe)
That might be a good idea. But I’m not worried about my lindens as of yet.
Before certifying a bank, doesn’t the organization need to register with LL or something, so that LL can provide compensation in case something happens and can automatically remove the stolen money from the bank? It seems ridiculous that LL would allow some unknown organization to hold so much money without so much as a contract.
Yeah, you’d think they’d verify the RL info of the company. But in the stock exchange, they made it very clear that the companies are virtual. So yeah, all of the stockholders are taking risks with their lindens.
With the banks, I’m sure LL will look into this as more and more people are losing their lindens.
They are virtual, but they are still taking into possession a large sum of money. It’s like giving money to a total stranger and expect to get the money back with interest…
There is no such thing as certification. Anyone is free to open a bank as long as he got a avatar, some lindens, some lands, a atm object, a computer with some sort of database tied to second life to handle the transcation, a basic knwoledge of programme and some sort of business model
That is why we have a lot of ponzi bank in sl
Very interesting discussion. Just the other day I ran across a blog about a resident’s quest to make a million Lindens. He does quite a bit of investing and I was thinking about trying some investments in the SL Exchange and in some higher-interest banks. Reading this post and all your comments is making me think about this harder. Where is the safest place for Lindens? My tendency is to think that, like real investments in RL, it’s best to diversify. Some different banks and investments, some with a bank avatar, etc. I can’t see never investing as I’m willing to take some risk for the potential profit earned with interest.
I think the only foolproof way of hanging onto my Lindens is to convert them to $US to my Paypal account whenever I reach a level that makes me uncomfortable.
Regards,
Ahkums Razor
The problem with bank is that there is totally no regulation and they could just disappear with your money overnight without have to fear legal actions. And your chance of getting back your money is even slimier than getting back your money from a ponzi scheme as lindens are offically ‘game credit’ with no tender value
[...] the new Banking policy. I say, it’s about time. I’ve lost more than 45,000L$ before in Ginko Financial and after that, I don’t trust banks in-world [...]