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World Stock Exchange
By Peace | November 6, 2007
WSE with its Halloween decorations — floating balloons, and pumpkins.
No more gambling, where do all the ‘gamblers’ go? Why ban casino in Second Life? Gambling is considered bad. It is bad, just like what you think about sex. Sex is bad if you abuse it — have extramarital sex, molest, rape, and sexual addiction. Similarly, gambling is considered bad — the compulsive or addictive gamblers risk bankruptcy, risk their families’ happiness and so on. If sex is bad, why can’t sex be ban as well?
Some people go SL for fun, while some people go SL for businesses. Some may only want to go SL just for research purposes or just to find out(explore) how SL is really like, since it was mentioned in the papers and even magazines. There may also be other reasons for entering SL, such as getting to know more people or dating. There are just too many things that we can think of and do in SL. It is a virtual world where you meet real people. Just as real world is that complicated with real people, the virtual world is also complicated with the existence of real people around.
Can you prevent evil things and bad things from happening just by banning them? I never know that SL can be so ‘disastrous’ and have such great impact on my life. People are looking around for free sex, and ways to earn money, not just from gambling (previously casinos), but through conning and scams as well! Dramatic, some of my SL friends said about Sapphire XXX Club. Yes, it was. Who can really believe it if I have no photographs and no chat log to prove it?
Sex brings me two lovely children. Sex can be a good exercise and is good for health in the right amount. Excess sex is bad for health and sex outside of marriage is bad and having multiple sex partners is unhealthy and bad, immoral. Can sex be banned then in this society? There are so many laws to curb gambling, telling people how bad gambling is and how destructive gambling can be to families, but why the existence of land-based casinos still?
When there are no fish, people eat prawns. When there are no SL casinos, people can have other alternative ways of gambling. WSE, World Stock Exchange is a place where people can seek ways to increase their wealth. Just like the real world, our stock exchange is the place where we can trade companies shares and people can have a chance to earn quick money. It is true that one of the way to increase your wealth is through investments, be it stocks and shares or foreign exchange or even options trading. But it all depends on how people use it.
Share investment can be another form of gambling. People who trade shares — contra, shorts, within a day or two, perform numerous transactions within a week, within a month and every year doing the same thing, these are basically gambling. I called it high-class gamblers.
Betting on SL Stock Exchange, can you really earn money? I agree with TechCrunch – After the recent ban on gambling, Second Life residents have had reduced opportunities on where spend their hard earned (or bought) Lindens (the Second Life in-world currency). The world of share trading, regarded by some to be actually worse than gambling, has started to make its presence felt in Second Life.
Is SL money so easy to earn? Many people go into Second Life, in the hope of achieving what the Second Lifer Anshe Chung (aka Ailin Graef) had achieved. Anshe Chung is the world first “virtual millionaire” according to Fortune magazine. Virtual millionaire means someone whose in-game assets are worth (or convertible to) over $1 million in real-life money. This is what draws many money-minded people into SL. But with so many restrictions nowadays, can money be earned so easily? Is stock trading secure? Are there ways to protect consumers of our hard-earned money?
According to Reuters SL News Center: World Stock Exchange hit by L$3.2 million theft
SECOND LIFE, July 25 (Reuters) - The World Stock Exchange said on Wednesday a former employee used inside knowledge to steal money from the virtual stock exchange�s ATM network, a sum that totaled more than L$3.2 million (US$12,300) according to one person with knowledge of the matter. READ MORE
SL is to me just a ‘game’. Though it is unlike any other arcade games or x-box games, still it is a game in another form. Today you invest your money, you can see past performance, past history of the company. But just like real world, you cannot be sure of future performance. That is understandable. However, how can you be sure that the CEO of a company or the online player are going to login to Second Life account the next time? For all you know, your money would be ‘cheated’ just by investing in a ‘wrong’ company which you speculated wrongly. Who are going to pay back your money?
The main thing about money investment is to diversification. Do not put all your eggs in a basket. To invest, you must have enough eggs first. If you do not have eggs, learn to produce eggs, learn to make eggs, whichever way you do is up to you. It is better to make your own eggs through rightway ways and not through unethical ways or any immoral ways. Make as many eggs as possible. Once you have eggs, you can make your eggs multiply. You can put some of your eggs in real world to invest or you can put some of your eggs in virtual world to invest. But any right-minded and sensible person would know that they can only afford to invest what they can lose. Be prepared to lose your eggs in the virtual world and even real world when you want your eggs to multiply!
When you have enough eggs to risk, then you can learn about WSE, here is an introduction to World Stock Exchange. More Education about WSE at their website. I am not paid to link to them, but I thought it is a good knowledge based area for anyone who want more information.
Quoted from their WSE Education: World Stock Exchange (WSE) is a fictional securities exchange developed for use in virtual worlds such as Second Life. The exchange provides Virtual companies with the ability to raise capital using the fictional Linden and World Internet Currencies.
The WSE provides users with a fully automated trading platform that operates 24 hours, 7 Days per week. Traders have access to real-time and historical trading data allowing them to make informed decisions. The client administration system provides companies with the ability to post regular announcements and updates on key financial data to shareholders along with the ability to distribute dividends.
Topics: Second Life |
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