March 26, 2008 by Nobody Fugazi
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There have been rumors and innuendo which indicate at least one stock exchange within Second Life® (see?) is considering more of a web based trading platform. So, while I was poking around on Facebook a few moments ago I came across Yalicoo.com that does something similar - except what they seem to be doing, at a glance, is really imaginative. They're using real sticker data from real stock exchanges and offering rewards for the best trading.
That is actually real stock market trading - at least at a glance.
I bring this up because some people say that the stock exchanges within Second Life are educational. In some ways, they are - but in the end, people are usually paying Linden Lab real money for tier and islands - and that is probably one reason why you can't pay your tier in Linden™ dollars... that could be a legal quandary for them. Further, residents of Second Life can't obtain venture capital from something like Yalicoo.com.
I mention this because I recall that there was something similar - and probably still is - being done with Foreign Exchange Trading inworld.
Now here's the question: Would something like Yalicoo.com be something that gained from usage in a virtual world? I'm not sure that it would. But for those who want to play with stock markets for the purposes of education, the web has other options as well. I won't endorse any of them - I don't use them - but maybe others have and can toss a few comments below.
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Re: Sport Stock Trading: Yalicoo.com
Thanks for your useful info, I think it’s a good topic. So would you like the info about this.
This is mind blowing....
golf clothes
Soothsayer
The new blog on the international L$ marketplace is halfway to allowing people to indulge in a bit of foreign exchange trading, of course without the other half it's not that useful but it's maybe going to happen.
On the subject of tier, the reason you can't pay in Linden dollars isn't due to legalities, Linden Lab have previously blogged that they could accept tier in Linden dollars (and I wish they would because it would mean no VAT), the issue is the sinks and how much money would be going out of the world each month, putting a huge strain on the Linden dollar exchange rate.
As far as sinks...
It is all the same number of beans. They can simply add magic beans to the economy when they take them out. :-)
As far as Law - well, if people can pay their real bills to Linden Lab in Linden dollars, that kind of makes the value of Linden dollars a little more real. So I imagine that there is at least one lawyer saying, "Don't break my magic circle!!!"
Second Life Consultant
Fantasy Stock Exchange
FSX: http://www.facebook.com/apps/application.php?id=2339204748
Made by Hedgestop.com
Sounds familiar to another Facebook "killer app" being spruiked at the moment. But it is definitely similar to Yalicoo.com as it uses RL stock quotes from the US's major exchanges. You basically get 10M to start...but it's "fantasy" money. Much like 'the-letter-before-m' dollars? No. You cannot convert...
Definitely plenty of these things around, but crossing over and letting some "actual" profit be realised is the biggest step moving this away from the fantasy-football crowd.
LO