markpasc (markpasc) wrote,
markpasc
markpasc

Ponzi Buddy

On the topic of Linden Lab becoming a bank, an interesting biased rant from an anonymous “financial consultant,” if you can muddle through financial jargon:

This didn't make sense. After all, the liquidity supposedly existed to support these simple, smallish trades. Well, when the guys running the banks and the exchange trading floor are the guys with most of the [L$s], it's no surprise that outsiders are not permitted to extract any significant returns.

We concluded that we weren't playing in a market at all. We were suckered in by a classic pyramid scheme, albeit one with a pretty new user interface.

Tags: pioneers who got scalped, second life, will i ever shut up about secondlife omg
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