Ginko Financial Is Not Meshing

What always seemed inevitable to me has now happened

so perhaps paying 60% interest is catching up with the “bank”? According to Mr. Rebus, there is L$30,000,000 in pending withdrawls at this point – so the L$1,000,000/day limit seems ineffective at stopping capital flight from the “bank”.

Second Life Herald: Ginko Financial’s End-Game

Futurismic wonders if my recent boom in virtual property prediction might be on point:

There are other ways of making money in the metaverse, though, with new ones appearing or rising to prominence all the time. Maybe virtual property is a smart business investment for the near future.

Ginko Financial – beleaguered virtual bank or collapsed ponzi scheme?

Yeah – good question! For me the core idea of GF was always cool, but the 60% raised a sea of red flags. However, they say it’s not so let’s accept that for now. I think the answer is to partner with some legitimate land speculators and offer folks a more transparent option than GF bonds. It will be interesting to see what if any position Second Life takes on this. See Reuters for related info.

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