All posts by Insouciant Yue
| Nov 28th 2007, 12:11 Insouciant Yue |
JT Financials Discussion » Why should i put my money on an SL bank>? Re: Why should i put my money on an SL bank? |
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| Again, this is all "for fun"; do not expect/demand a guaranteed insured profit, etc. But I'll explain my rationale from the point of view of a rather casual SL-is-a-game-not-my-life player. I originally contacted a bank because I was given a large amount to start out playing SL with. (Well, large to me a newbie at the time = 10000L). As a newbie, I didn't trust MYSELF and SL that much and thus I felt safer to put the money aside in a bank (out of my in-world avatar's balance) and thus it wouldn't be easy to be snookered or have it stolen or lost as I was hearing rumours of capabilities existed with "trojan objects", "renegade scripts", etc. I know now that these "fears" were overblown, but when new I knew I didn't know much about what COULD be done to me/my-inventory or what warnings/permissions I'd have to grant or confirm to "allow" my funds to be spent, etc. I've continued to use the banks partly for the "not carrying all my Lindens in an avatar", partly for the "organization of my funds and budgeting", and partly for "living in SL off the interest of my SL investments". Thus now "mature", I have settled on 3 avs (including my wife's) with funds among/overlapping in 3 SL banks and I don't need to change US$ to Lindens (nor vice versa) nor put any US$ into SL anymore. Several months ago, I had a great conversation with a banker, BSL Lulli Yip, and he gave me many suggestions which may seem common sense to everyone here but were greatly appreciated by me the newbie: (pay $1 first to check what av it goes to, check owner in the edit window of the "top surface" to see if some jerk laid a transparent object over the atm [or any product "for sale"], etc.) As I spread my nestegg out, I know I am INCREASING the chance that I could lose something sometime somewhere since I am depending on a larger chunk (3 banks/markets) of the financial sector; BUT, I am lowering my RISK of losing everything at once since all 3 would have to fail unrecoverably. I'm more comfortable this way and hope that if there were a SL financial crash, I'd see it coming in time to get some of the Lindens out of one or two of the banks, if not all three. |
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| Dec 7th 2007, 09:43 Insouciant Yue |
SL Capital Exchange Archive » You know what would be really cool! Re: You know what would be really cool! |
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| thoughts and suggestions - (I have no real qualifications or authority) I like the video streaming idea best - with vid captured by one trusted cameraman av or scripted carefully. This would also minimize the ability (or threat or accusation) of a spectator av to interfere with a fighting av/mech. The sailing/racing sims have to deal with spectators and not lagging the sailboats (powered by SL wind with minute adjustments happening by each sailor to continuously achieve the optimium sail angle and hence instantaneous speed of their vessle). Perhaps ask them what they do. I've seen the sailing sims have designated "viewing platforms" for spectators. Along with viewing "in world directly with your av", goes the "how-to-enforce-other-than-by-honesty" courtesy of NOT clicking on a sailboat/MECH fighter to interfere with them. Attaching a camera (your viewpoint) to a boat doesn't seem to cause any problem (because all the info is present and view generated locally in your client software SL viewer anyway). |
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| Dec 15th 2007, 15:27 Insouciant Yue |
General Investment Discussion » Feedback on the latest SL Capex accouncement Re: Feedback on the latest SL Capex accouncement |
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| Let me try to give my opinion. I'm an intelligent naive upstanding idealist citizen... and "too much blowing one's horn" is rather insulting to me, usually causing me to go elsewhere (change channels or distributor or forum, etc.) Is there anything "WRONG" as in false here? No. But HOW a message (including both bad and good news) is presented is important TO ME. Ok, I'm not "the masses", and I do realize that "the masses" ARE very influenced by how a message is presented, and often react more (in ways desireable to the presenter) as more "over the top" manners of presentation are used. I may not like it, I may even despise it and those so influenced, but I know it is a fact. I do not need to be told "this is so much better than that" when well presented data makes it obvious. I do want to see that data, and commentary is fine, but I don't need to be led around by the nose. (Yes, I hate most mass market advertising also). I hoped Second Life would be a world where things could be different. It IS big enough that there's something for everyone. But seeing "the effective marketing opportunities fully exploited as a routine matter of successful business sense" just drives how pathetic the creators of such must think of individuals and how "good and respectable" (reputation and ability) have so little to do with "sucessful" (earning money/return/getting-results) in RL and apparently SL here. For me, by my own measure, I'd rather be respected than "sucessfully grabbing every opportunity for the greatest overall return". For the masses, yes, use every trick and manipulative and influence you can -- there will be some negative reactions by the few like me, but you will indeed come out ahead overall and reap the "success" so important because of the power from the masses so easily swayed by hyperbole. Those, very few, who can impart good news and data with suitable commentary and restrain from exploiting every possible immediate impression but who give a thought to the implications of their announcements can be both successful and respectable. That means comparitive but not taunting, constructive not combative, informing not manipulative, solid but not sledge-hammering. |
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| Dec 15th 2007, 15:29 Insouciant Yue |
General Investment Discussion » Feedback on the latest SL Capex accouncement Re: Feedback on the latest SL Capex accouncement |
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| Yes, some of the others mentioned are "expected" to use such tactics. I also chose to be here instead. | ||
| Jan 12th 2008, 10:19 Insouciant Yue |
SL Capital Exchange Archive » I don't understand Re: I don't understand |
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| I doubled my holding of MECH, at half the price I paid for my original (1.0L) shares. Ok, it went down more and I perhaps COULD have gotten some shares cheaper, but now it's back up 50% in the last few hours. That doesn't concern me; I'm in MECH to a rather small degree but "for the long run". I went to the MECH sim last night and just stood there alone -- wondering at the stupidity (my opinion) of Linden Lab's WAY they implemented this new policy (to say nothing of the policy itself) and how much it frustrates good, productive, legitimate, sane "use" of "money". (Can I call the Linden money?!). We still don't know if SLCapeEx operation will be "allowed", or what planning can be prudently done when literally any time "the rules can be changed by unapplealable decree" (while also dealing with vagueness or lack of complete information contributing to a transparent and plain/fair/agreeable decision making process). Anyway, without the opportunity for me and others to put some of our resources out for Ima and MECH to use, could such a project at MECH happen? THIS is the "building infrastructure" that SL needs to grow and be productive! Let those of us who CAN'T build or directly make a Mech for ourselves still be excited to help fund and enable others (programmers, planners, etc.) to make such a project. And I hope the Lindens concentrate on THEIR infrastructure -- getting the grid stable and asset server reliable and responsive, etc. I'm in and will stay in however I can - in L$ or not, since I think this is part of enabling and building an exciting future. |
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| Feb 2nd 2008, 10:23 Insouciant Yue |
General Investment Discussion » Financial Markets Re: Financial Markets |
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| What bothers me is what we "lowly SL resident investors" have to work with. No amount of research into the SL companies and RL people behind the avs (chats, RL research, verification, etc.) and responsible "surplus, not food-on-table" sane realisting investing choices in SL can prevent "God Linden Labs" from changing the paradigm and throwing the whole thing (good and bad) into turmoil, intentionally or not. For me, it comes down to this resident won't have confidence (financial risk or not) unless Linden Labs' influence is stablilized (that means stability of the grid as well as "edicts")... or removed by our vitual investing moving out of SL altogether. It may not be a nice statement on how I feel about SecondLife, but I "trust" a few of the banking/financial avs I've chosen to interact with more than I trust LL to look after my interests (NOT just my "money" but my ability to "live/play/interact/teach" without frustrations in Second Life.) | ||
| Feb 20th 2008, 19:05 Insouciant Yue |
General Investment Discussion » Best Investment Yet Re: Best Investment Yet |
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| I heard that.... but the Official Prospectus (released a day ago) just says "buy back eventually at 20% over the Market Value". Any shares you had converted were converted at 1L. If you buy some now when the price went down, it's your speculation. But I don't see anything that will necessarily say it must get back up to 1L/share for the market value. Of course, if you do see it go to 10L/share and the buy-back gives you 12L then that's very very nice! (I put my funds into other stocks during "decision week", and I've moved more Lindens in and bought other stocks for what I think are good investments when some needed to sell out.) Anyway, I hope your investment (and SLW) works out well as I hope my analysis and picks do for the ones I bought more into. |
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| Feb 21st 2008, 09:21 Insouciant Yue |
General Investment Discussion » Best Investment Yet Re: Best Investment Yet |
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| >>Insouciant - if we're ever to take SLW private, the final buyback would have to be at least 20% above trading prices (but still has to be above 1.03). Ok, I'm sorry I missed that 1.03 explicily but I see where you have it being at least reimbursing the exchange transaction percentage and the 1L/share convertion). I should add that I didn't mean my post to be disparaging, though re-reading it sounds like it. I do think you are doing all you can but that you were severely crippled in what you could do -- the hemorhaging of liquid cash by the bank run caused by the FUD (Fear, Uncertainty, & Doubt) in how LL "announced" the new policy. I have not pulled anything out myself, but we (wife and I) are putting in selectively -- I think there are some sound values out there on CapeX. In light of my misreading, (and still believing in your dedication and faithfulness), I will take another look at getting in to SLW. |
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| Feb 21st 2008, 09:45 Insouciant Yue |
General Investment Discussion » If you can wait... And the wolvs don't get ya... someday you may get your mo Re: If you can wait... And the wolvs don't get ya... someday you may |
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| Lots of good info summed up in this thread. I agree with most of the insights. And I think Serveme and Sean4you and I are alike in some ways of "looking to the future". Yet, we are analytical and thinking and can't help but look at the (highly visible) recent past and those desperate to get money out for whatever reason at whatever they can. I wish there was a way to counter an "Abuse Report" or complaint with a "praise and understanding report". I'd file that to say I think JT, future SLWallet, SLCapeX, and a couple other "finincial and trading institutions" have done what they can and are making sound plans for the future with what relatively limited tools (resouces of non-long-term-locked-down "money") they can. My "fear" is not that Arb won't deliver on his promises, but that LL will step in again and "meddle/muddle" things - causeing more panic and dooming even the best of sound plans. I "spread my fun investments around" (I don't want to lose all, but I won't be hurt by that either) and thought that I would be pretty safe... but still an event (LL) managed to lock up 66% of my funds immediately. [I know, some have fared far worse]. If I were to file a complaint, it'd be laying the blame squarely on LL itself at not 1) talking to the financial institution who would discuss or give input to the soundness of the "anti-interest banking policy", [1a the scammers would run away anyway immediately], 2) letting Arb and other officers who would realize with pre-notification that something was going to happen and give them a chance to limit "damage" to the institution [Yes, cut off massive/full withdrawls and allow perhaps a limited fairer-to-all-but-the-early-runners-who-took-all-out] and 3) issuing a clear unambiguous set of guidelines for operation of "bank" AND "exchanges" with (prior to release) questions from the industry addressed. I can understand (and agree with) LL not "regulating" the financial industry. But they ARE regulating it very erratically by what they've done, and while I trust Arb and other sound honourable officers here and elsewhere to do what they can to succeed (for their clients AND themselves), the fact remains that we still don't know just what or when LL may reinject more panic through and edict about stock exchanges or currency exchanges or SLWallet or payment transfer agencies or escrows or lending instututions, etc. In final, to answer Gumby's question, I don't think JTF/SLW is insolvent. But if anyone doesn't understand or like the risk (and risk being NOT trusting Arb but divinging what LL will do next), then I think they should "cash out and walk away with what they can". However, I am willing (and I hope not foolishly) to keep LL not to create a mess like this again in this way (and I have long trusted my chosen and vetted bankers and officers here and elsewhere). |
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| Feb 21st 2008, 10:01 Insouciant Yue |
General Investment Discussion » Best Investment Yet Re: Best Investment Yet |
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| Ivan, those are good questions, and have been asked before. Some of their substance has been answered, but not the latest details. (the rest of this post is NOT directed directly to Ivan but to readers in general. Alas, many who need to know it probably won't be reading here but will be writing complaints or "so, where's my money") The following is NOT "fact as I know it", but opinion as I'm deducing: The sports arbitrage program (Juice Trading) needs some capital to work with -- take all the working capital away and it would all be a waste. (Development of the Juice Trading system cost money, and however good it may be, it would become worthless if not able to be used.) Some have said "sell the system itself" to raise money to pay back depositors. Maybe this is happening, maybe not. But the more working capital the system has to bet/work with, the better it can "pay off" when it detects a favourable opportunity. With the stock price under 1L, the "wolves" rightly see the opportunity (risk of SLW not being able to be bought back due to failure to raise the money eventually or LL stepping in). The sheep who are willing to settle for less than 1 for 1 can sell out to the wolves. (Arb is not the one "stealing and giving a smaller return than the 1L conversion", but many just don't seem to understand this -- the sheep are getting taken advantage of by the wolves with capital and willingness to risk... Arb just made it possible by doing the conversion because that was the best way ahead to be able to eventually get out and have everything settle up fairly and fully.) |
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