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August 17, 2007
Bank Failure? So What…
With mortgage companies dropping like flies (i.e. Aegis), a bank failure seems like a small deal. Especially when the total expected loss is only $750,000. What makes this blog worthy is that the bank is a virtual bank in Second Life. Remember $750,000 translates to $200 million in Lindens (Second Life Money). Some residents lost as much as $10,000 but most only lost around $50. What this tells us is that the virtual world is getting more and more similar to our own. Real money can be earned through hard work and lost if invested in the wrong places.
http://www.wired.com/gaming/virtualworlds/news/2007/08/virtual_bank
Posted by Todd at August 17, 2007 10:55 AM
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There are certainly a lot of details like that to take into consideration. That is a great point to bring up. I offer the thoughts above as general inspiration but clearly there are questions like the one you bring up where the most important thing will be working in honest good faith. I don?t know if best practices have emerged around things like that, but I am sure that your job is clearly identified as a fair game.
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