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The World Stock Exchange (WSE) closed on 4th January 2008 for one month for "upgrades." As many coders who play the money market or read the news wondered, why the long shut down? Consider Linden Lab: they roll out upgrades across thousands of servers in a few hours of downtime, because they prepare...

March 14th 2008 at 5:30pm 0 Comments
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Luke Connell's 'fictional' stock exchange, the World Stock Exchange (or WSE) has abandoned the use of Linden Dollars for reasons which seem a little confused and unclear other than apparently fear, uncertainty and doubt. The exchange has been closed for some time for a software refit that seems to...

February 25th 2008 at 7:00am 0 Comments
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The Metaverse Journal has an unedited interview with LukeConnell Vandeverre, owner of the - as he puts it - fictional World Stock Exchange. In it, Vandeverre asserts repeatedly and firmly that the WSE is a game, and nothing more, and that no real profit is available through the WSE. "[I]t is not rea...

January 12th 2008 at 11:00am 0 Comments
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In an announcement that has snuck on to the official Linden blog, Linden Lab has announced that anyone running a bank in Second Life will have to produce "proof of an applicable government registration statement or financial institution charter" or have their content removed starting in two weeks ti...

January 8th 2008 at 2:45pm 0 Comments
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A recurring question, amid the forest of what might be legitimate failures and mismanaged enterprises or might just be scams, is just how legal are the banks and stock exchanges that operate alongside and inside various MMOs and Virtual Worlds such as Second Life. As seems to be usual with legal mat...

December 7th 2007 at 1:00am 0 Comments
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The story we ran about someone brute-force hacking several Second Life banks has a happy resolution, at least for one of the banks: LNLBT is back in business, and their insurance is back in force with The Rock as well. SL Investor's Bank is still insured, and the other three affected banks were neve...

November 27th 2007 at 11:01pm 0 Comments
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Following the calls in Second Life by the Midas Group to boycott Hope Capital and WSE for failure to pay on bonds, WSE today declared the Midas Group bankrupt.The full statement (below the fold) makes interesting reading in one paragraph saying "the reasons are not our concern" and in the next expla...

November 3rd 2007 at 8:45pm 0 Comments
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Those of you who are following over from Second Life Insider will know that the Worlds Stock Exchange (WSE) has a long and spotty history. Including being hacked, announcements that criticise the system vanish, there are some odd seeming deals done, and the whole set up is, apparently, questionable...

November 3rd 2007 at 5:01pm 0 Comments