Ginko Financial to Close?
Posted by Simon Lameth on November 19, 2005
If you have been watching the Second Life Forums you probally know about the talks that Ginko Financial is soon going to crash. People will lose their Lindens, Ect. Anshe Chung, Owner of ANSHECHUNG Land Management started a thread on the official boards saying:
After more than 10 pages on this thread and several posts from the Ginko owner, does anyone actually have any clue where those 16 mio L$ went that Nicholas took from people and cashed out?I hate to say it, but my initial fears only solidify. This whole thing looks like one black hole where money disappears in. One big Ponzi scheme bubble growing and growing until enough people realize what it is and the whole thing burst. Your money gone, forever, minus 100% interest :-(Now I have to say, I have one vested interest that this thing better ends sooner than later. It is the same vested interest anyone should have who is invested in the Second Life economy, directly or indirectly. One Ponzi scheme of this magnitute destroys one incredible amount of value and eventually also trust in the Second Life economy. Maybe 20 mio? 50 mio? 100 mio? 1 billion? The bigger this bubble grows, the bigger the crash will be when people realize they can never get their money back. The result will be very bad press for Second Life and Linden Lab and many piss off people calling for Philip to "just create some Linden$". Maybe he will have to give in and we all pay for it with inflation, removal of stipends or higher tier fee. In any case: what is bad for SL economy is also bad for the community! And, surprise surprise, Anshe Chung is also part of this community.So, Nicholas, where are those 16 mio L$? How much did you invest in what? What revenue have you generate sofar? Can you proove it to us, or at least to Linden Lab? You better answer us and give us one detailed account ASAP instead of insult our intelligence with silly "I don't want mamma look across my shoulder" phrases. I warn you. I am not going watch some crook take whole SL economy hijack and scam the newbies. You better show us the whereabouts of every single L$ you took or I will end this. It might cost me millions, but I don't care. This kinda scam goes so 100% against every sense of morality in my bones that I forget my business, forget my money, forget the PR and just hunt you down. Where is that money?
In the Ginko Forums (http://www.ginkofinancial.com) Sneak Dulce, A Ginko Staff member, said
Looking at the registered users, it seems that Ginko has had a jump in the new accounts area anyway.
The Second Life Times had a crew at Ginko for most of the day, but were unable to contact staff members. (Sneak Dulce was online and gave us the same statement above)
Posted in Blogspot Archive | 1 Comment »
