SL International Business

ESN, Express Shopping Network started really amazingly!

It sold out in IPO FAST! and current price is 26L$ per share! With first bid being 9L$ per share.
That means, the 180,000L$ investment SLIB made into ESN multiplied itself immediately!

I also hear from some end users that ESN can be very successfull indeed. Future will show. I will post the catalog today to SLIB group for you all to see.

However, Ancapex STUNS me with incompetence!
Amazingly incompetent launch!

Their place is BIIIG and NICE, it’s an awesome build indeed, i like the place, even tho it’s too big.

However, ATMs look like some slot machines, the info notecard given is well… While being kind of good marketing and professional, it just stinks like an poor MLM (Multi-Level Marketing) scam.

Furthermore, website graphics are a HUGE disappointment, they look like 1996 amateur work, those parts what are custom that is. Font choice also was poor: C looks like an T, and the header graphics is incomplete, it starts to repeat on full width! Furthermore, it has an ACE card on it, hinting of gambling. Header graphics also brings in mind Las Vegas.

Is this the image Ancapex wants to give? That they are a gambling institution? “Join our STOCK EXCHANGE TODAY! It’s COMPLETELY LEGAL GAMBLING! Wohoo! Gambling Ban does NOT reach us because we do not use computer random elements! And like all good gambling: Odds have been rigged towards the house! So Most likely you loose your money and we get that money!”

Also, they do have false advertising too, just see http://ancapex.net/home/story/system/10 claiming other exchanges make wihtdraw limits. Yes, one does, that being SL Capex, which apparently use Capex funds to fuel their banking (Which apparently looses a ton of money!). However WSE nor VsTex, and afaik ISE neither has any such limits. WSE never has had (or well maybe except when money was stolen from WSE, not sure if they even had a temporal one!).

This is blatant false advertising, trying to impose others are weaker and others use YOUR money to make money, thus imposing limits. That is total false advertising, and in RL world that would be punishable and illegal. Furthermore, they talk about “How can you afford to pay such high interest?” at http://ancapex.net/content/faq

Also, ACE IPO has been launched, with 16million total shares, and 7,700,000 launched publicly. Making sure IntLibber has over 50% ownership. However, on what is this 16million L$ value derived from?

Cash on hand is 275,000L$, Land 40,200sqm and total assets 3,020,000L$. Giving land a generous 10L$/sqm value, makes it worth 402,000L$. Money & Land = 677,000L$, where is the rest of tangible assets? 2,343,000L$ of them. Last i checked, software, builds etc. are not to be counted in it. Did BNT really pay that much for building, software etc.?

Or did they value that 40,200sqm to 2,745,000 OR 68.28L$/sqm? Interesting isn’t it?

Using 3,020,000L$ as tangible assets would make a NAVPS of 0.18875L$. (Net-Asset Value Per Share). Or using the real and SHOWN tangible assets of total 677,000L$ making a NAVPS of 0.0423125L$ !

Tangible assets contains of easily liquidable, common assets like Land, Money, Stocks. So i believe they have calced in things such as Software, Building, Marketing and Brand(which in 99% of cases is a figure made completely up).

Furthermore, they’ve already had some technical issues, read http://ancapex.net/home/story/system/17 , there they even admit that system was originally sold for SL Capex. Some sources claim they bought the system from Allenvest directly, making Allenvest sell the software to couple different buyers. Did BNT really also buy from a known scammer? So did JT Financials too, Arbitrage knew well before who Allenvest really is, and have even said will never buy from him again, after being once scammed by Allenvest wanting to buy one stock exchange.

Ginko wanted to first buy AVIX, then SL Capex did, now BNT bought the system too. Interesting? To every direction is some lies, deceit etc. What really is going on? I do not know, but i know that there’s a “let’s make an stock exchange!” frenzy going on.

Their second ever posting is also quite funny: http://ancapex.net/home/story/system/2 They make you believe that they are market leader from almost day one! Others are following them? sure.

No one is market leader from day zero. Simply no one. That’s ultimately an impossibility. Without proven track record, you cannot be market leader. Besides, they mix terms up there, market leader stands for “the company or brand with the largest share of a market niche for a particular product”.(source: Dictionary.com) Do they have largest share? Definately not. In it’s dedication to customer service and satisfaction? They have the same basic ticketing system than SL Capex Hardly leading … They have that and the basic support of IMng “ACE BnT”.

Oh this is not all at all!

I started this article for ESN to start good. Guess what? I’ve still not received my shares! ACE told that they are having some technical issues transferring the shares. Yet they have made some share transfers in the past, and now they got troubles with that?

They promised yesterday around 9PM my time that it will take max 3hours. 0 of ESN shares has been transferred to their owners who bought in pre-IPO as far as i know. It’s now almost 2PM the next day, and still no shares.

Please keep the waiting, well… WAITING! That’s the way how some big companies has shown us to lead in customer service! So that HAS to be how you lead in customer service!

Full Disclosure: I did not write this post to be an jackass or make slander, neither i am angry, like many would love to point out to make some slander (again) about me. So here’s my griefer pre-emptive disclosure! This was written with all due respect to intLibber Brautigan and other people involved in ACE. Hell, even Google fails at times! How many of those google products you have even heard of? Some of those are simply bloated, while some are just useless! No one can get it always right. Not even Steve Jobs.

UPDATE: Finally got earlier today my shares of ESN

I made some interpretations of the latest Second Life service quality metrics.

This graph shows us the planned & unplanned outages.
I would interpret from this, knowing that there was lots of Denial of service attacks on SL grid after major bad news (Gambling, VAT, Ginko), that during July and August, there was a lot of attacks on the grid, while overall grid has been becoming way more stable since March.

After April / May, either less grid updates has been done OR they have been more successful than in the past, requiring less of downtime. Also, July had higher downtime probably because of “Message Liberation”, meaning releasing the groundwork for HET grid, at least, that i would believe be the case for higher planned downtime.

This is basically how often viewer crashes!
I’m not going to cross reference this to user spent hours, just quickly state that it seems while some has been fixed, new problems are regularly introduced.
However, how come there isn’t a spike for July & August? I would have guessed then would have been a lot more due to so much unplanned outage causing booting users.

This is REALLY bad, over 20% of sessions ending into a crash! Ouch! That got to be felt on the user base too!

How fast does your SL run?

This figure is a major OUCH! Really, that slow? I mean come on, human eye perceives 24 frames per second! So everyone feels ´lagged´ all the time? Apparently so.

For example, in first person shooters, you need even higher FPS for smooth experience, and online, you feel the difference between 60 and 40FPS.

Some major optimizations got done early in the year, but then new stuff has been introduced for a lot of the advantage disappear! While if no changes are done, theoretically average FPS should slowly increase as computers get faster.

Because average users so rarely upgrade and short time span, that increase of ~1 to 3% in speed doesn’t count much. (In actuality, computers get faster, well, way faster, but computers get upgraded not so often).

That is a major headache. Image the 25% of people running at under 8 oO; Wow, that is majorly slow, and must be majorly annoying. Why we do not see more attempts to increase FPS?

This is actually quite good news, knowing that Second Life is very heavy, this figure is so good! Most of the time hiccups aren’t server side.

But then again, most of second life is always empty soooo … This does not say much, how about statistics for sims while atleast 5 or 10 avatars present? That would be so much more useful graph.

Empty sims shouldn’t lag, right? So, the tons and tons of sims empty might make this figure unusable.

That concludes my thoughts of these graphs … Of course, one could make deeper analysis and really get into it, but the idea of this post wasn’t to overly analyse these graphs

So, what does these graphs bring into your mind?

Mortgages can be a very usefull tool for any business when used correctly. Companies as large as BnT even use them, according to some sources.

Using mortgages can help skyrocket your business, easily even, whether you are a big corporation or a individual looking to sell her/his own creations.

Before i go into detail, i see where SLIB also could have benefitted GREATLY in the early days by using mortgages. Infact tho, SLIB lucked with one buyer backing out from buying the parcel at Ranthambore. During the day i acquired that parcel, it was around HALF of the real estate holdings SLIB had (total of just under 8k sqm), and 1/3rd of all assets. In the end, it was lucky i acquired it and buyer backed out. However, with mortgage on it, i could’ve kept using the unused assets on making real estate deals and grow SLIB quicker.

So let’s see how a mortgage can help Your business!

Let’s assume you sell items created by yourself: Jewellery, Clothing and Club accessories. You have total of 60 items already, and you have listed them to SLExchange and SLBoutique, and rent on store already. All items are higher quality, and well done.

You are currently generating a total of only 5,000L$, which is quite low considering the amount of items and their quality. However, your advertising budget is very limited due to the low amount of sales, and you don’t have more than basic enhancements on 10 of your best items on SLExchange. That 5,000L$ monthly is profit, and you currently posses 27,000L$ total. In overall, you’ve made in the last 6months 37,000L$ only for your 120-240hours of work and you think you can’t make money in SL which would make RL sense (COMPLETELY WRONG ATTITUDE!).

At this point you read this article and see an opportunity for growth and proper income!

Month 7:

You come to me, and get 4 mainland parcels of 512sqm under mortgage.
Each 512sqm costs 3600L$, downpayment: 252L$ each, and total of JUST 1,008L$.
Mortgaged total amount is: 13,392L$ after downpayment, and you settle for 26 weeks repay, or other words approx 6 months, which you know you can easily cover!

Total to pay back is: 19,773L$ + tiers of 482L$ weekly (whole saler priced BUT with VAT 22%)
Thus weekly payments are: 1,243L$ and total costs of mortgage (Land + Interest + Tiers) is 32,318L$
If you’d directly buy these you’d pay Premium + 15USD/Month in tiers alone, Premium minimum is 6USD per month, thus 21USD total: 1329.18L$ per week!
With that total cost of land for first 6 months would come to: 48,959L$ ! So INFACT you are SAVING MONEY by mortgaging: 16,641L$ on the first 6months!

You also make 50L$ classifieds for each store, buy wonderchair and setup on each shop 2 wonderchairs giving some of your lower tier (cheaper, and probably lower quality, these were made during when you were still mainly “just” learning and “messing around”), and some freebie items, and sometimes giving also items.

Classifieds cost: -200L$ per week
Wonderchairs purchase: -700L$
Wonderchairs L$ given to people: -200L$ per week.
New sales weekly per store: 1,000L$
Mortgage costs per week: -1,243L$
Profit new stores: +2,357L$ weekly. (Wonderchair purchase not included because it’s one time cost)
Profit full month new stores: +10,213.67L$ (Adjusted by weekly * 52 then divided by 12 to get exact weekly)
Bottomline: 35,506L$ (Rounded to full lindens)

WOW! You have already increased your POSITIVE CASH FLOW many times over!

Month 8:

This month, you didn’t expand really, just put better ads on SL Boutique & SL Exchange, and links to those from your stores. Thus income from these increased, and new residual revenue is 9,000L$ monthly from them. Still very low, but you still have only basic listing enhancements on some of your products.

Bottomline: 54,720L$
Wow! now you are starting to get somewhere!

Month 9:

You get a new mortgage for an 2048sqm, a bigger nicer store. Same terms as the above 4×512sqm(2048sqm total)
For this you put also an classified of 500L$ weekly.
You spent on decorative items 5,000L$ and put a total of 12 wonderchairs with higher amount of L$ payments, and you are being optimistic about this! You also get an campaign at Mainostaulu of 8,000L$ for long-term.
and guess what? Bigger stores, tend to make bigger relatively too!

New Mortgage down: -1,008L$
New Mortgage Weekly: -1,243L$
New Classified Weekly: -500L$
New Store Decoration: -5,000L$
Mainostaulu Campaign: -8,000L$
Wonderchair L$ weekly given: -700L$
One time costs: -14,008L$
New weekly costs: -2,443L$
New sales weekly: 6,000L$
Bottomline weekly effect: 3,557L$
Bottomline monthly effect: 15,413.67L$

Bottomline: 75,340L$

Month 10:

Nothing new much this month, except mainostaulu campaign really is starting to kickin, and SLX sales are increasing as you are getting more popular.

Increased SLX & SLBoutique sales, are now total 11,000L$ monthly.
Your latest store revenue increased by 1,000L$ to a total of 7,000L$.
Those 4 small stores are still raking in the same 10,213.67L$ monthly
Total Monthly Profit: 28,214L$
It’s starting be usefull amount, yes? Don’t forget you’ve been paying of your debts constantly during this time!

At this point the 4 small stores has been paid 4/6months already, and of the big store 2/6.
Leaving your debt for the 4 small stores to: ~6,591L$
Debt of the bigger store: ~13,182L$
Total debt: 19,773L$
Total land value: 28,800L$
Properties equity: 9,027L$

Cash at end of the month: 103,554L$
Total Bottomline (Cash + Properties): 112,581L$

That’s starting to be some meaningfull money little by little! After this, just keep on doing this, going slowly to larger and larger, and more and more items, and more and more marketing, until you reach very big sums of profit monthly!

This is how mortgages can help you, it lifts of the fear “What if my items doesn’t sell enough?” etc.
In the end, if you do not sell enough, at one point, the mortgage gets defaulted, and the likelyhood is that you aren’t left owning any money to the bank. Downpayment + repaying the debt takes care of that, INFACT, you might even receive money on mortgage defaulting.

So how about You contact me in-world (IM Tyrian Camilo), and You let me help grow Your business?

Here it is! Full transcript!

Summa summarum:

- SLIB won’t be sold
- SLIB will begin selling some land eBay
- SLIB will begin advertising on Google
- SLIB will look into getting usage of RegAPI
- Liquid is low, liquidating assets VERY expensive.
- VAT is the root cause

[12:07]  You: Ok shalle we begin!
[12:07]  Lynn Binder: yes
[12:07]  Stewart Kungler: yes
[12:07]  You: I will make transcript of this on the blog afterwards
[12:07]  Theo Saiman: please start
[12:07]  MystiTool HUD 1.0.21: Entering chat range: Jermaine Jannings (13m)
[12:07]  You: And please, as there is so many of us here, let’s try to stay conservative on comments so we don’t spend next 12-24hours on this!
[12:08]  You: I hope you all know the details of the recent VAT “introduction”
[12:08]  Ce Allen declined your inventory offer.
[12:08]  Ce Allen accepted your inventory offer.
[12:08]  You: Somebody has confused also that i’m “against VAT” with my blog posting, that’s untrue, i’m against what LL is doing.
[12:09]  You: There is several fraudulent things LL has done regarding to VAT and close to, one of them being LL refused to give you a receipt
[12:09]  You: The effect on SL economy was devastating
[12:09]  MystiTool HUD 1.0.21: Entering chat range: falney Finney (1m)
[12:09]  You: Within 30-90mins we already see a serious drop in stock prices, not all but some!
[12:09]  You: Lynn: could you pass the cigar to those who just came?
[12:09]  MystiTool HUD 1.0.21: Entering chat range: Dzonatas Sol (9m)
[12:10]  Lynn Binder: sure
[12:10]  You: Immediately all land sales grinded to almost complete halt
[12:10]  You: It itself isn’t a very dramatic change, as land sales has been for the past 2 months very low already. I’ve got reports that even the most profitable land dealers are feeling the effects
[12:10]  You: After casino ban, SL economy has been falling like a set of dominoes
[12:11]  You: All my contingency plans however has been effective
[12:11]  You: Each single one of them
[12:11]  Corleth Druart accepted your inventory offer.
[12:11]  You: And we even saw record profits … Not many can make over 1mil L$ in a week
[12:11]  You: However, what i didn’t foresee is that they would also cause a mess
[12:11]  Glenn Goodliffe: that’s great Tyrian
[12:12]  You: The same contingency plans which saved the SLIB’s bottomline, and allowed SLIB to give a amazing 0.22% daily interest for a while!
[12:12]  You: Basicly problem is in the fact that most assets are in stocks now
[12:12]  You: huge majority
[12:12]  You: As probably most of you know, stocks is not something you easily liquidate
[12:12]  You: Atleast so that you get most of the value out of them!
[12:13]  You: If you have A LOT of stocks, even getting 80% of the market value FAST is a dream and jackpot
[12:13]  You: Many of you are probably also familiar partly with the portfolio SLIB has
[12:13]  You: Some examples are 3.1mil of GPB, 450k of SNE
[12:13]  You: over 40k of DDE and so forth
[12:14]  You: They can be liquidated, but those which would give good money right now, are also the stocks which are very good long term prospects
[12:14]  You: when VAT was introduced, a bank-run happened
[12:14]  You: it seems like, dropping PRIME RATE to 0.070% has little to no effect on deposits
[12:14]  You: but as soon as VAT was introduced, a bank run happened
[12:15]  You: http://www.sl-investors-bank.com/stats.php <– see those graphs
[12:15]  You: I must add that an Real Life Bank couldn’t survive anyway this high portion of withdraws
[12:15]  You: IT’s a impossibiltiy for RL banks to survive over 20% of OPM gone
[12:16]  You: So in effect, VAT introduction wiped out a lot of stock portfolio value, land isn’t moving, and money is going out and FAST
[12:16]  You: Situation currently is that liquid is very low, but not much land has been yet liquidated
[12:16]  You: Liquidating land is the easiest one from the assets, but also makes one of the highest impacts on bottomline
[12:17]  Glenn Goodliffe: why?
[12:17]  You: However, by estimations about 1.8-2mil L$ of liquid can be acquired in 3 days span with hard work from liquidating all land
[12:17]  You: Glenn: Because to liquidate i need to sell at market bottom, while most of the land was bought above, sometimes way above, and they aren’t the crap what market bottom is
[12:18]  You: Currently, it is hard to sell even close to market bottom prices even better land, after VAT was introduced
[12:18]  Cliff Eclipse accepted your inventory offer.
[12:19]  You: Median price for past two weeks land sales is around 8.5-8.7L$/sqm
[12:19]  You: Several people has told to me this is what happens every single year in SL
[12:19]  You: every year during this time, it’s survival of the fittest
[12:19]  Magnus Stovall: It is
[12:19]  Fender Todd: And it’s being exacerbated by the casino ban and VAT.
[12:19]  You: I can’t vouch for that from ym own experience, but others tell me that
[12:19]  You: Magnus is one of them who’s reported that to me
[12:20]  You: Fender: Indeed, i was today thinking hard how does this year correlate on what i have been told, and this has to be the worst year in SL economy summer recession, even tho SL is now at it’s largest
[12:21]  You: Also, european users are in fast decline. Which means even less target market for one of the future services i’ve planned all along to launch someday
[12:21]  Glenn Goodliffe: are EU users going to another virtual world?
[12:21]  Theo Saiman: afraid that might happen Glenn
[12:22]  Fender Todd: Even if they don’t, having to pay the additional VAT will make them cautious about spending.
[12:22]  You: Glenn: No viable alternative yet. Project Entropia is by heaps behind in certain areas
[12:22]  Dzonatas Sol: There is discussion with LL about an EU grid… legalities are still in question, but presence is the first step.
[12:22]  You: Imho it would be bad to have separate US & EU grids
[12:22]  You: for businesses that is
[12:22]  Magnus Stovall: It would be and I don’t think tha tis going to happen
[12:23]  You: but certainly EU Sims with EU rules on the same grid would be good!
[12:23]  You: Also, i’ve been studying a lot of this move by LL
[12:23]  rainbow Arai: tyrian im going out of a string here what if people over reacting about vat as far as i know theres petitions out to stop ll and ll is something wrong they will get caught
[12:23]  You: It breaks both US and EU laws on several points
[12:23]  Crissy Buwan: i don’t think they going to seperate us…we all will get used getting taxed ans life goes on
[12:23]  Magnus Stovall: The only thing that would be good from what I hae heard is if LL moves all their offices to Switzerland and they can avoid the VAT
[12:23]  Dzonatas Sol: I believe that is the goal to make them seamless. Right now they are working over the login phase to handle it.
[12:23]  Magnus Stovall: And I dont think they will do that
[12:24]  Magnus Stovall: Their european offices
[12:24]  You: Imho, a lot of management at LL should be changed completely
[12:24]  Magnus Stovall agrees
[12:24]  falney Finney: And public liason!
[12:24]  You: let the “YOU ARE FIRED!” sentences not be saved They especially need lawyers familiar with international corporate laws
[12:24]  Fender Todd: However, that’s a completely seperate issue, Tyrian.
[12:25]  Magnus Stovall: Yes it is
[12:25]  You: You are right Fender, just noticed how we are getting sidetracked
[12:25]  You: let’s ge tback to business!
[12:25]  You: So
[12:25]  You: My first reaction to LL’s move was “FUCK THIS! I’m out!”
[12:26]  You: I immediately made buyout offer requests, as there has been in the past signs people wanting buy SLIB
[12:26]  You: First offer was 3Mil L$, second 4.5Mil L$
[12:26]  You: on the second one negotiations progressed
[12:26]  You: and when they progressed i brought that idea to publicity
[12:26]  You: however, after that my views has adjusted
[12:26]  You: SL economy needs SLIB’s input, perspective and business style
[12:26]  You: especially financial sector
[12:26]  You: and foremost of all
[12:27]  Wie Wunderlich: /sighs in relief
[12:27]  You: You guys, every single one of you, don’t want me to leave!
[12:27]  Lynn Binder: right
[12:27]  falney Finney coughs
[12:27]  Magnus Stovall: We dont Tyrian
[12:27]  Crissy Buwan: nope sure don’t
[12:27]  Theo Saiman: nope Tyrian
[12:27]  You: Everyone i’ve asked so far has told me that SLIB isn’t SLIB if i’m not at the driver’s seat
[12:27]  Glenn Goodliffe: right!
[12:27]  Devon Flatley: your right about that.
[12:27]  Fender Todd: That’s absolutely my feeling–there’s no such thing as SLIB without you, Tyrian.
[12:27]  Glenn Goodliffe: yes! i agree
[12:27]  You: ^^
[12:28]  Tyrian Camilo is taken and blushes
[12:28]  Theo Saiman: there wont be even the drivers seat if you dont bring it with you Tyrian
[12:28]  You: Theo!
[12:28]  You: The offer was from BNT
[12:28]  Theo Saiman nods n grins
[12:28]  You: when the negotiations happened, my goal for it was to bring safety to SLIB depositors
[12:28]  You: Truth being told, even SLIB bottomline was still profitable, there simply is NO liquid money
[12:29]  You: all is in assets, exactly the different direction than i want!
[12:29]  You: I’ve been for the past month or two been slowly steering SLIB to direction of high liquidity bank
[12:29]  Crissy Buwan: so what are you saying is that we should deposit more or borrow more?
[12:29]  You: Very slowly to avoid any losses i may add
[12:29]  rainbow Arai: while i see why people are panicing but ll will get caught taxes are the gov which means ll is messing qith the gov and they will be stop…now i will be quiet and listen
[12:30]  You: Crissy: what i’m saying SLIB needs deposits desperately right now, to survive with good track record this moment and allow time to transform assets into cash
[12:30]  You: SL banking is VERY hard field
[12:30]  Glenn Goodliffe: that is why we appreciate you so much Tyrian
[12:30]  You: Because the most common client is around 1,000L$, then we have clients of upto 5,000,000L$ (with SLIB biggest accounts ever has been slightly over 1mil L$)
[12:31]  You: And the whole variety needs to be served, the small account owners, and big account owners
[12:31]  You: Thank you Glenn
[12:31]  Crissy Buwan: yes i understand that.
[12:32]  Crissy Buwan: now if i deposit and want to purchase land will i hard time pulling the money out to pay for the land i want to buy?
[12:32]  You: Crissy: not if you are buying from SLIB
[12:32]  You: I can deduct directly all land buys with 30min notice from SLIB account (30min when i’m actually awake and close to computer … that being likely 12-14hrs each day… )
[12:33]  Corleth Druart: so tyrian askin the question that everyones thinkin how much do ya want us to deposit to keep ya tickin over ?????
[12:33]  Stewart Kungler: and with Christmas coming up people are going to want to withdraw some more to help pay for christmas itself are people gonna have a hard time withdrawing for this?
[12:33]  Devon Flatley: so if your not buying land from SLIB the withdrawals will remain a problem?
[12:33]  You: Steward: not before christmas
[12:33]  You: We need to bring SLIB back to the margin of 11mil L$, from which SLIB was just an hair away
[12:34]  You: Also, we need to find buyers outside of exchange for the stocks
[12:34]  You: For example, SNE 450k, i’m pleased on slight loss and selling at 0.90 all of them (not possible to sell that much on current market)
[12:34]  Fender Todd: How far from that 11mil target is SLIB?
[12:34]  You: On top of that, i need to hire an product manager kind of guy, to make materials etc. for SLIB’s products
[12:35]  You: Fender: Now 2½mil
[12:35]  You: Fender: At highest there was around 10,950,000L$
[12:35]  You: So really a hair away from the 11mil L$
[12:35]  Theo Saiman: quite thick hair tho
[12:35]  Devon Flatley: so how long are you estimating before things are running normally again?
[12:36]  You: There is a lot of plans behind SLIB for new services, products and businesses to drive SLIB to be the dominant Virtual Worlds banking service and one stop source for virtual world’s business information and protection
[12:36]  You: Theo: on this scale, 50,000L$ is not much really.
[12:37]  Dzonatas Sol: Re: “we need to find buyers outside of exchange for the stocks” — LL does have a 3rd party sign-up bonus. SLIB website could offer incentives upon sign-up if they also agree to use SLIB. I would have to look into more for facts.
[12:37]  You: Devon: No clue… If lucky, by end of the month
[12:37]  You: If not lucky, 2months
[12:37]  Crissy Buwan: tyrian …how do we draw attention to the bank…and to get people to invest in in…
[12:37]  Theo Saiman: i agree and see what i can do for help
[12:37]  You: Dzonatas: I know of that program, but at quick glance, requirements for it seemed too high, for example was it 7,000 people active community!
[12:37]  You: Crissy: We go beyond traditional advertising & marketing channels
[12:38]  MystiTool HUD 1.0.21: Entering chat range: Tore Ferraris (12m)
[12:38]  Tore Ferraris: Hallo
[12:38]  You: I have some texts written down, but the word needs to go beyond those whom they usually reach
[12:38]  Devon Flatley: I’m planning on opening a shop soon and depending on location and prim limits might be interested in setting up an ATM if that would help
[12:38]  rainbow Arai: tyrian advertise on google it will bring sl back up and bring more people in slib. google is the biggest wide used engines around the world
[12:38]  MystiTool HUD 1.0.21: Entering chat range: Corleth Druart (12m)
[12:39]  Crissy Buwan: ok….yes atm would work…great..i could put atm on my place once i am done paying for it..
[12:39]  You: That even includes calling up RL friends telling “hey, you know Second Life? Well you should invest there, i knwo you got savings, but i know of the economy to say that you should have part of your savings there, youd get way more for your money”, infact, a few of my friends has been interested when i’ve just talked about generally of my the business here and what i do
[12:39]  Fender Todd: You’re going to have a hard time promoting SLIB if the liquidity crunch continues.
[12:39]  Crissy Buwan: I think offer exchange for real money in linden dollars would help
[12:39]  Stewart Kungler: Tyrian. I own quite a big Mall, 2 infact would me placing a atm in my Malls help?
[12:39]  You: rainbow: I will try that, maybe it makes an effect
[12:40]  Cliff Eclipse: It does make an effect, speaking from experience.
[12:40]  You: Crissy: personally i do offer that already, but not publicly. I need the infrastructure, but my days are spent mainly on marketing and making profits
[12:40]  Glenn Goodliffe: yes, Stewart, please do place the atms there
[12:40]  You: Stewart: definately, and it would help you also
[12:40]  MystiTool HUD 1.0.21: Entering chat range: Aburke Korobase (12m)
[12:40]  You: for everyone who wants an ATM placed, i will put an landmark to weekly report!
[12:40]  Lynn Binder: very good
[12:40]  Stewart Kungler: yer brings in more traffic for me aswell i never thought of that lol
[12:41]  Magnus Stovall: I think though….to over tiem the economy will rebound…every economcial report I have read from every economist who studies this economy said that despite it all…the SL economy does recover quite rapidly
[12:41]  Stewart Kungler: how would i go about getting 2 ATM’s from you
[12:41]  Devon Flatley: that was what I was thinking to Stewart…bringing mor traffic to my store as well
[12:41]  rainbow Arai: every country uses google people will will slib and sl as a way to make rl money then they will try it
[12:41]  You: Steward: IM me during 10:00-18:00 GMT, that’s the best time usually
[12:41]  rainbow Arai: thats 1 way to beat the ll
[12:41]  Stewart Kungler: ok sure
[12:41]  You: usually during that time i’m scouting for land, and not busy at all
[12:42]  Fender Todd will be right back, he needs a LFR break.
[12:42]  Stewart Kungler: Won’t Ebay help with selling of land?
[12:42]  Lynn Binder: Ebay would provide great exposure for SLIB
[12:43]  Lynn Binder: As well as moving some land
[12:43]  You: I have a lot of knowledge of SEO, for example, check out on google “Mainostaulu” … (btw, that rnaking was accident … accidental #1? !!)
[12:43]  Stewart Kungler: And to boot Ebay is quite cheap to advertise/sell land on
[12:43]  You: Stewart: too much work on eBay mainly, but it would help, i would need someone to manage that
[12:43]  Crissy Buwan: i think what helps too is , to offer help for new account holders , with land buying…and the covenant..on lands, so the purhcase is more attractive to people like me…who jsut want a little piece of the pie..lol
[12:43]  Stewart Kungler: I could arange me doing that Ebay stuff if you like?
[12:43]  rainbow Arai: google and ebay the biggest empires around the world
[12:44]  You: Truth be told, i cannot do everything myself, and i cannot go learn about everything myself. I’ve been trying to get to delegate more and more for the past several months…. 16hr work days started to wear me off!
[12:44]  You: Crissy: part of the bargain already! I do try to help a little bit when asked
[12:44]  Grant Ferraris: what about looking for some starting pages, to promote SLIB on ? i know 1 for all kinds of secondlife promotions.
[12:44]  Stewart Kungler: I’m a Powerseller on Ebay so alot of Ebay rules and Regs i already know so not much time in learning things for me on there if that would help you
[12:45]  You: Steward: i could pay you the normal commission i pay, from estates 15%
[12:45]  rainbow Arai: if u put google and ebay together sl will gain alot so would slib
[12:46]  You: Stewart: sounds good for you? We have to talk about that separately of this meeting in detail
[12:46]  Devon Flatley: i agree witht that
[12:46]  Stewart Kungler: Sure thats would be great. However i would need a list of Land plots and a rough price you need for them
[12:46]  You: rainbow: True!
[12:46]  Corleth Druart: sorry everyone i have to be somewhere hope everything works out
[12:46]  You: Stewart: that’s easy! We will move forward on that, and let’s help each other make some money
[12:46]  Crissy Buwan: i can add link to my webdomains….i can even build a page just for this bank…if you send me what the text shouls say I create the page for you Tyrian..unless that is done
[12:46]  You: No problem corleth, transcript will be available
[12:47]  Corleth Druart: ty :-))))))
[12:47]  MystiTool HUD 1.0.21: Entering chat range: Stewart Kungler (13m)
[12:47]  You: Crissy: i think link would be enough to pool the PR
[12:47]  Stewart Kungler: Sure. I think the best way to attack this is for me to speak to you direct when i and you have a full day spare. Then we can arange plots to be sold on ebay
[12:48]  You: Stewart: definately best method to go forward!
[12:48]  You: Also, if somebody of you all knwos someone, or wants to, IM me sometime for the commission based selling
[12:48]  Stewart Kungler: My busyiest days are Tuesdays, Wednesdays & Thursdays. Other than that i am on SL vertually all the time lol
[12:48]  Lea Cummings: A low prim version of the ATM would be more accepted by small shop owners, i think.
[12:49]  Devon Flatley: I agree to that
[12:49]  Stewart Kungler: Yer prims are the turning point of small shop owners i agree in a very low prim ATM for them
[12:50]  You: Lea cummings: true, 13 is quite a lot afterall for small shops
[12:50]  Crissy Buwan: i tell you what hurts a lot is all the places with free things….no one really has to spend money in here..
[12:50]  Stewart Kungler: Most shops only have 50 prims at most so 13 is quite dawning on them
[12:50]  rainbow Arai: also if want slib on top u should have business owners host ur atms and they get a percent for each new person they bring in
[12:50]  Dzonatas Sol: 13 is small compared to other ATMs I’ve had
[12:51]  Devon Flatley: but for smaller buisnesses renting places 13 is a lot
[12:51]  Jermaine Jannings: You should promote the PBA. You can withdraw everywhere and no bad script can steal yor money!
[12:51]  You: rainbow: i’ve been trying to avoid that method, but doable!
[12:51]  Magnus Stovall: 13 would kill me
[12:51]  Magnus Stovall: but a deal with land owners and such?
[12:51]  You: Jermaine: Good idea! Promoting of PBA has been a background effort
[12:51]  You: Ironically
[12:51]  You: the affiliate system is trivial to create
[12:52]  You: However
[12:52]  You: before i continue on with some of the contingency plans for this moment, and some future plans
[12:52]  You: I would like to make sure, everyone of you are invested in SLIB and are not trying to withdraw all you can?
[12:52]  Tore Ferraris: no
[12:52]  Crissy Buwan: no not me
[12:52]  Glenn Goodliffe: no
[12:53]  Grant Ferraris: don’t have plans to withdraw anything.
[12:53]  Devon Flatley: I’m invested…tried to withdraw small amount earlier but not leaving SLIB by any means
[12:53]  Stewart Kungler: I’m actually paying into the account now lol. I did have a big speding spree of L$150,000 buying land but now L$ is coming back in and in turn going back into my SLIB account
[12:53]  Crissy Buwan: well sometimes we all have to draw on our accounts ..but does not mean we are going anywhere
[12:54]  Fender Todd: I think, from what Tyrian has told us, that the constant “panic” drain on SLIB is the root cause of problems.
[12:54]  Stewart Kungler: I agree
[12:54]  You: The next portion i might even cut from the transcript, because i do not want too much of it to be on the public eye before launch
[12:54]  MystiTool HUD 1.0.21: Entering chat range: Crissy Buwan (13m)
[12:54]  You: Fender is right
[12:54]  Lea Cummings: I wil not go to any other bank, as long as SLIB is driven like you did, Tyrian
[12:54]  Lynn Binder: so, is there a solution that rewards bigger accounts and allows the smaller to move small amounts in and out
[12:54]  Magnus Stovall doesnt have any plans to withdraw unitl after the first of the year
[12:54]  You: Ty for the words of confidence!
[12:54]  Theo Saiman: why change the good bank to worse
[12:55]  You: Lynn: one idea, part hard limit, partially by percentage
[12:55]  You: But it needs some work
[12:55]  You: perhaps tiered like it is now, and people could apply for a higher one
[12:55]  Lynn Binder: some kind of low cost incentive
[12:55]  Free Radar HUD v1.0 by Crystal Gadgets (Babeli 128,128,22)
[12:56]  Stewart Kungler: SLIB so far has not let me down so i ain’t going to let SLIB down. I have been aproched by other banks, Eehhm (LL) lol
[12:56]  You: Anyways, one of the longer term goals is a new company, to help protect businesses and investors in SL
[12:56]  You: anyone can guess what would be that kind of service?
[12:56]  Wie Wunderlich: sorry - crashed
[12:56]  Fender Todd: FDIC
[12:56]  Lynn Binder: insurance
[12:57]  Magnus Stovall chuckles at Fender
[12:57]  You: Fender: Not THAT major … a little bit smaller
[12:57]  Grant Ferraris: red windows with girls behind?
[12:57]  You: Insurance is the right word
[12:57]  Fender Todd: fdic
[12:57]  Devon Flatley: lol @ fender
[12:57]  You: I’ve been thinking about such a service for far before The Rock tagged along into SL
[12:57]  Crissy Buwan: why girls?? why not muscle man..lol
[12:57]  You: Then Zelphyr here approached me what i think of the idea
[12:57]  Lea Cummings: What is fdic?
[12:57]  Cliff Eclipse: I would like to say that staying away from FDIC, or a notion of Federal contact is detrimental to Second Life.
[12:57]  You: from there on, we brainstormed and have quite definite plan, both technically and marketing wise
[12:58]  Lynn Binder: like FDIC, wouldn’t have to cover it all, just a portion
[12:58]  Magnus Stovall: Federal Deposit Insurance Corp…the ageny in the US that enforceds banking regulations and insures them
[12:58]  Cliff Eclipse: We can do this SL thing without a Federal Agency watching.
[12:58]  Fender Todd: Lea: FDIC = Federal Deposit Insurance Corp.
[12:58]  Cliff Eclipse: As you have suffered in EU.
[12:58]  Magnus Stovall: banks in rl
[12:58]  Lea Cummings: ty
[12:58]  Fender Todd: I didn’t mean it -seriously-.
[12:58]  You: Cliff: Actually, something similar to FDIC is included in the insurance company plans but no more of that!
[12:59]  Cliff Eclipse: Rock Insurance exists, but my opinion is it is laughale.
[12:59]  Lynn Binder: so, maybe that’s the basis for a ‘positive’ campaign
[12:59]  You: Cliff: same here!
[12:59]  Lynn Binder: I worry about the impact of LL bashing on public attitude
[12:59]  Magnus Stovall: I refuse to buy it
[12:59]  You: Lynn: No it is not before launch
[12:59]  You: BEcause of marketing perspectives, i really cannot say much more, better to make it first, then announce!
[13:00]  Dzonatas Sol: Will it affect bottomline? Or, another flow?
[13:00]  You: Dzonatas: another flow completely, but dividends to SLIB
[13:00]  Fender Todd: Tyrian, regarding the cash crunch… may I offer a thought?
[13:00]  Lea Cummings: But for an insurance, you will need to raise some capital also. Where will it come from? Shares?
[13:00]  You: Sure Fender
[13:01]  Fender Todd: I don’t mean to break into anyone’s train of thought but this aspect still concerns me…
[13:01]  You: Lea: There are several plans for that! Venture capital is definately one of them
[13:01]  Lea Cummings: I see.
[13:02]  You: please go ahead Fender
[13:02]  Fender Todd: I would like to offer the suggestion that, should you (Tyrian) still see people running on the bank, or for whatever reason cash reserves are being hit hard, that you let the group know about it so that those of us with some liquidity of our own can try to infuse some money back into the bank.
[13:03]  You: And sorry for giving so little about the insurance! But i want to keep very tight on the informatio nside before launch, i want to make it JUST perfect!
[13:03]  Wie Wunderlich second that
[13:03]  Magnus Stovall agrees
[13:03]  Tyrian Camilo nods
[13:03]  You: not a bad idea
[13:03]  Devon Flatley: i like the way things are heading but i gotta go. Appreciate your hard work for us Tyrian
[13:03]  rainbow Arai: excuse me guys i need to stand
[13:03]  You: I haven’t tried to combat really the bank-runs other than making sure funds are avail and capping the rate
[13:03]  You: Ty Devon
[13:04]  Fender Todd: I guess I’m offering another possible way of making sure funds are available, Tyrian.
[13:04]  MystiTool HUD 1.0.21: Entering chat range: Jermaine Jannings (14m)
[13:04]  You: I will keep that in mind, and next time announce!
[13:05]  Wie Wunderlich: maybe to the larger holders first - a group message might cause more of a run
[13:05]  Stewart Kungler: I must be away to, Got to put kids in bed lol. I will be in touch with you Tyrian about selling on Ebay and hosting some ATM’s for you in my Mall. Sorry to upsticks and run but kids calling me lol
[13:05]  Lea Cummings: I think, must withdraws were made cause of concerns about safty of the deposit, nt cause of decreasing interests. So assuring that the deposits will be save, may be the most important point.
[13:05]  You: Just one final think about the buyout offer: It woul dbring safety, and i would ask them to run like SLIB has been ran, and honor all contracts etc. You guys prefer me running the show over security?
[13:06]  Crissy Buwan: yes
[13:06]  Theo Saiman: yes
[13:06]  Magnus Stovall: yes
[13:06]  Tore Ferraris: yes
[13:06]  You: Stewart: ok, ty for your participation!
[13:06]  Wie Wunderlich: aye
[13:06]  Grant Ferraris: yes
[13:06]  Stewart Kungler: take care all
[13:06]  Fender Todd: You running the show is it’s own security, Tyrian.
[13:06]  MystiTool HUD 1.0.21: Entering chat range: Wie Wunderlich (14m)
[13:06]  You: :O
[13:06]  Grant Ferraris: my thought Fender
[13:06]  Cliff Eclipse: If I may Speak for just a second.
[13:06]  You: So it’s unanimous no to the sale of SLIB
[13:06]  You: Sure Cliff
[13:06]  Cliff Eclipse: heheh.
[13:07]  You: Infact i prefer you say a few words
[13:07]  Cliff Eclipse: We, BNT are the ones that made the offer.
[13:07]  Cliff Eclipse: We are like you in many ways.
[13:07]  Cliff Eclipse: It is a tough time in SL for banks.
[13:07]  Cliff Eclipse: Honestly, I cant see SLIB being the same bank without Tyrian’s decison making.
[13:08]  Cliff Eclipse: And its what I have always admired.
[13:08]  Object: FoxxFire21 Meng is paging you from Ranthambore
[13:08]  Cliff Eclipse: At any rate.
[13:08]  MystiTool HUD 1.0.21: Entering chat range: ChatNoir Moonsoo (9m)
[13:08]  Cliff Eclipse: The tough time is still there.
[13:08]  Cliff Eclipse: You all are banding together in a common cause.
[13:08]  Cliff Eclipse: And it is a community.
[13:08]  Cliff Eclipse: But it is not yours alone.
[13:08]  Cliff Eclipse: It is the bankinng community that you all will help
[13:09]  Cliff Eclipse: With your strength
[13:09]  Cliff Eclipse: the leadership provided by Tyrian will take you to a time when SL will be recovering.
[13:09]  Cliff Eclipse: We are seeing land prices rise.
[13:09]  Cliff Eclipse: Not real fast but maybe we have turned a corner.
[13:10]  Cliff Eclipse: I applaud your alls decision.
[13:10]  You: Ty Cliff
[13:10]  Cliff Eclipse: I think if we, all financial institutions stick together.
[13:10]  Lynn Binder: Well said Cliff
[13:10]  Cliff Eclipse: We will all make i.
[13:10]  Cliff Eclipse: make it.
[13:11]  Wie Wunderlich: I crashed so: Have we discussed the option of selling SLIB and keeping your power concentarted on MAI? (I’m biased on that
[13:11]  Zelphyr Paz: I would like to add that I too would like Tyrian to continue running SLIB but ONLY if it isn’t going to cost him significant amounts of RL money to do so.
[13:11]  You: Wie: yes we have, unanimous no to selling SLIB
[13:11]  Magnus Stovall: As I mentioned earlier the SL economy does recover fast…perhaps not as fast s we would like…but if we keep it liquid and plan for things such as LL adding more mainland etc…and we stick together SLIB will survive
[13:11]  Magnus Stovall: And Tyrian is the most honest busnessman I have met on SL
[13:12]  Crissy Buwan: ty Cliff…..yes we will….some of us are new to all this and if we are being brought up to par, and Tyrian keeps us informed we will be alright..
[13:12]  You: Zelphyr: truth is that i don’t have any RL money. My main source of income has been SL for past 6months. I don’t have a day job, i don’t have any significant other business, and i do not get any aids.
[13:12]  Cliff Eclipse: Communication is probably most important.
[13:12]  Fender Todd: So everyone remember to tip Tyrian before you leave!
[13:12]  Cliff Eclipse: and by community I mean trust as well.
[13:12]  You: Fender
[13:13]  Theo Saiman: sure we tip where his tipjar is
[13:13]  Magnus Stovall: So should we g4et a dance pole for Tyrian as well?
[13:13]  Zelphyr Paz: Theo: Rathmabore I think?
[13:13]  Fender Todd: I’ll just go make a withdrawal so I can tip you, Tyrian
[13:13]  You: lol That’s SLIB Tipjar! X)
[13:13]  You: i’ll rez a ATM
[13:13]  SLIB ATM Green: ATM Online, listening on channel 101
[13:13]  Theo Saiman:
[13:13]  ‘SLIB ATM Green’, an object owned by ‘Tyrian Camilo’, located in Mun Saari at 150.8, 115.2,701.1, has been granted permission to: Take Linden dollars (L$) from you.
[13:13]  Fender Todd: Good on you, Tyrian hee hee hee
[13:13]  You: there’s an ATM!
[13:14]  Lynn Binder: omg
[13:14]  Tore Ferraris: ahahahah
[13:14]  Wie Wunderlich: lol - now we need the pther’s atms so we can withdraw for yours
[13:14]  Theo Saiman: good didnt have to tp to rathmore
[13:14]  You: (already saw white dots going on the white terminal)
[13:14]  katto nelja: This is a growing plant from ‘Dingo Weeds’, it takes about 1 month to grow to full size as long as it is watered and cared for!
[13:14]  You: Hey
[13:15]  You: what do you guys think if i request for other bank ATMs to SLIB HQ?
[13:15]  You: Would it infact make so that people jump ships to SLIB? >;D
[13:15]  Cliff Eclipse: I think that works.
[13:15]  Grant Ferraris: it could bring some income for yourself too.
[13:15]  Crissy Buwan: sure…charge them a fee however ..lol
[13:15]  Theo Saiman: worth to try
[13:15]  Magnus Stovall: I think that would work
[13:15]  Lea Cummings: You should do that
[13:15]  Cliff Eclipse: It represents the health of financial world.
[13:15]  Wie Wunderlich: well, ehat if the one next to yours offers .24%?
[13:15]  Crissy Buwan: maybe not have there atm ,,but allow them to use ours….and then charge them service fee..
[13:15]  Lynn Binder: currency exchange and stock sales - yes
[13:15]  Crissy Buwan: like in rl atms
[13:15]  Dzonatas Sol: I’ve tried that =)
[13:15]  Lynn Binder: other bank ATM’s - hmmmmm
[13:16]  You: Crissy: i doubt othe rbanks will approve paying … But definately worth a shot!
[13:16]  Cliff Eclipse: Au conntrare.
[13:16]  Fender Todd: Don’t put them inside the bank, Tyrian, people will get confused.
[13:16]  Cliff Eclipse: If they are allowed reciprocal arrangement
[13:16]  You: Wie: If people go there, i just got to say “blame on them when they loose their money”
[13:16]  Lynn Binder: I agree
[13:16]  rainbow Arai: the only way people will turn to slib if the bank is grounded and honest
[13:16]  Dzonatas Sol: WSE would be a good addition
[13:16]  Cliff Eclipse: It is the patrons choice to choose a bank.
[13:16]  You: 0.24% is too unrealistic for long term success
[13:16]  Wie Wunderlich: as seem at Thomas
[13:17]  Wie Wunderlich: but I’m not so sure about having others -
[13:17]  Wie Wunderlich: as an advertisewr I’d say you are watering your message
[13:17]  Fender Todd: As a client, I would say that having other bank’s ATMs would indicate a feeling of weakness.
[13:18]  You: Cliff: True it is their choice But, just let me educate first
[13:18]  Lynn Binder: there are serious branding issues too
[13:18]  Cliff Eclipse: yep.
[13:18]  Wie Wunderlich: So it in a mall as a test - nt in your bank locations
[13:18]  Cliff Eclipse: Tyrian, I appreciate you letting me come.
[13:18]  Crissy Buwan: no why,,,in real life you can go to any atm and draw money from account of other banks..only a fee is attached to that..
[13:18]  Cliff Eclipse: I want to wish you all the best.
[13:18]  Lea Cummings: You would need a clearly signed “service” area for it
[13:18]  Fender Todd: McDonalds doesn’t sell Burger King or even advertise them.
[13:18]  rainbow Arai: if they see a panicy bank they will think twice slib has to be a united front
[13:18]  You: Cliff: thank you Cliff
[13:18]  You: Cliff: anyword on BNTF withdraw limits btw?
[13:18]  Dzonatas Sol: Other ATMs is not weakness, because we should support diversity. Just got to choose which ATMs wisely
[13:18]  Crissy Buwan: thank you cliff for coming…
[13:19]  Cliff Eclipse: I will be watching you all, and expect all of us to survive.
[13:19]  Cliff Eclipse: And I’ll catch you all later.
[13:19]  Fender Todd: Dzonatas: Not inside the bank itself, though.
[13:19]  Cliff Eclipse: Thanks Again Tyrian
[13:19]  You: yes eeither a well marked “service” area, or outside the bank
[13:20]  You: on the original HQ i had a problem where people thought that WSE or SLX atm is ours!
[13:20]  Lea Cummings: In the wash rooms
[13:20]  Wie Wunderlich: lol
[13:20]  rainbow Arai: which means vat has to take a back and slib in front to make slib a united front
[13:20]  Fender Todd: It’s a convenience for clients but it should never overshadow SLIB.
[13:20]  You: Infact, if done, we should make sure SLIB casts a big shadow on them
[13:20]  Crissy Buwan: well…just to let you know..that SL is not the only place with a bit of trouble…I own land in a virtual place called there.com
[13:21]  Crissy Buwan: but I am in process of seeling it all and moving over here
[13:21]  You: never heard of there.com
[13:21]  Fender Todd: Of coure there.com has problems–no furries.
[13:21]  Dzonatas Sol: been There
[13:21]  Crissy Buwan: that is direct competition to here
[13:21]  Crissy Buwan: i brought 4 people from tehre to here
[13:21]  You: i wouldn’t use there.com just by the looks of frontpage!
[13:22]  You: hmmph
[13:22]  Wie Wunderlich: Tyrian - keep an eye on secretcity.de - I can’t (mac user)
[13:22]  You: that could make a lot of Here and There jokes
[13:22]  Magnus Stovall: but
[13:22]  Crissy Buwan: lol
[13:22]  Magnus Stovall: there si a problem too
[13:22]  Fender Todd: Well, that’s neither here nor there.
[13:22]  You: Ich spreche kein deutsch.
[13:22]  Magnus Stovall: areae is in development and publicly LL has admitted when areae goes to market
[13:22]  rainbow Arai: i can get people to use slib easy
[13:22]  Wie Wunderlich: meaning expanding the bank in other worlds …
[13:23]  Magnus Stovall: or goes online
[13:23]  Crissy Buwan: i got to run for now….TYRIAN keep up the good work I will do all i can to support you
[13:23]  Magnus Stovall: LL will probably sink
[13:23]  Crissy Buwan: bye all
[13:23]  You: Areae?
[13:23]  Fender Todd: Bye Crissy!
[13:23]  Magnus Stovall: Bye Crissy
[13:23]  Theo Saiman: Area?
[13:23]  You: Ty Crissy
[13:23]  Magnus Stovall: areae
[13:23]  Dzonatas Sol: Need an ATM with WICS. Has it been tried?
[13:23]  MystiTool HUD 1.0.21: Entering chat range: Wie Wunderlich (14m)
[13:23]  Tore Ferraris: thank u all guys
[13:23]  Magnus Stovall: ITs still in development but they are already showcasing at conventions and places like that
[13:23]  Tore Ferraris: thanks Tyrian for your job
[13:24]  Tore Ferraris: keep in touch!
[13:24]  Magnus Stovall: so probably within the next year
[13:24]  You: Dzonatas: Nope has not
[13:24]  You: Ty Tore!
[13:25]  MystiTool HUD 1.0.21: Entering chat range: ChuChu Ricardo (15m)
[13:25]  You: How about i fSLIB would use tactics which would currently make a loss, to make liquid and growth?
[13:25]  You: one of them would be even higher than 0.165% daily term deposit
[13:25]  You: (should i rename it to CD?)
[13:25]  Fender Todd: Yes.
[13:26]  Lynn Binder: you would get an infusion of capital
[13:26]  You: So Yes to rename to CD
[13:26]  Fender Todd: A lot of people don’t understand “term deposit.”
[13:26]  You: aah
[13:26]  You: ok
[13:26]  You: rename it shall be! it’s easy
[13:26]  Magnus Stovall: CD is a better term
[13:26]  Fender Todd: Maybe you should call it DVD, just to be different
[13:26]  Wie Wunderlich: umm.. what is CD?
[13:26]  You: I’m one of those who didn’t understand CD but term deposit was familiar
[13:26]  Lynn Binder: Certificate of Deposit
[13:26]  You: Fender !!! X)
[13:27]  You: What would DVD be then
[13:27]  Wie Wunderlich: well, term deposit is better understandable for the eu continent - try to use both terms
[13:27]  You:
[13:27]  Fender Todd: Da Value Deposit
[13:27]  Dzonatas Sol: A feature to automate ladder CDs maybe an incentive
[13:27]  You: dzonatas: Ladder CDs?
[13:27]  Dzonatas Sol: *maybe would be…
[13:27]  Fender Todd: Automatic CD rollovers at term.
[13:28]  You: Meaning that it begins anew automatically?
[13:28]  Dzonatas Sol: for example, those that are set to 4 terms…. each one ends on a quarter, 1/4 of the CD is cashed
[13:28]  Grant Ferraris: The term deposit sounds more familair to me, as an non-English person, than the term CD.
[13:28]  Wie Wunderlich: Termingeld “Appointment Money” hi hi
[13:29]  ChuChu Ricardo: When does the bank-wide limit DAY start?
[13:29]  Fender Todd: You could always use both terms.
[13:29]  You: Dzonatas: aah ok! Will do, easy
[13:29]  You: Fender: was just thinking about that
[13:29]  You: But i assume using methods which makes now loss, but would help the current situation, is not a idea to go forward with? (High interest rates, low loan rates)
[13:30]  Fender Todd: Tyrian, you’re the expert, what’s your advice?
[13:30]  You: With higher interest
[13:30]  You: there would DEFINATELY be deposits
[13:30]  You: but currently making a profit HAAAARD
[13:30]  Lea Cummings: I dont think, that would raise trust of customers, Tyrian
[13:30]  Wie Wunderlich: Deposits don’t make money per se
[13:30]  You: Lea: it won’t raise trust, but would bring in more cash from people looking high interest
[13:31]  Fender Todd: We’re right back to the liquidity issue, aren’t we?
[13:31]  Lea Cummings: How long can you stand this?
[13:31]  You: How about then so that normal accoutns all are low rate, and SL normal rates are only in term deposits?
[13:31]  Theo Saiman: ok its time for me to call off…as i can barely keep my eyes open and follow whats talked….gotta throw my old bones to rest
[13:31]  You: Lea Cummings: 1 month i think
[13:31]  You: G’nite Theo
[13:31]  Theo Saiman: ty
[13:32]  You: Lea: 1 month without taking too deep losses
[13:32]  Theo Saiman: g’nite to everyone else too when ever you reach that level
[13:32]  Theo Saiman bows and poofs
[13:32]  Wie Wunderlich: Night Theo
[13:32]  Grant Ferraris: goodnight Theo
[13:33]  Lea Cummings: But then, when lowering interests these “investors” will run again from slib, so it would be just a kind of cedit from them, right?
[13:33]  You: Yes
[13:34]  You: you could say that
[13:34]  You: most would “run”
[13:34]  Wie Wunderlich: And after the Ginko thing I would not tinker with rates too much. Just a signal af panic
[13:34]  You: True
[13:34]  You: Ginko had terrible management!
[13:34]  Lea Cummings: Thats my conern, Wie
[13:34]  Fender Todd: I would prefer a stable rate to an artificially-high rate.
[13:34]  You: at current situation, all i can do really is to up the interest rate ONCE
[13:34]  Wie Wunderlich: add those “CDs”
[13:34]  You: and term deposits coming now? BAD timing
[13:34]  Wie Wunderlich: and leave the normal rate
[13:35]  Wie Wunderlich: why bad timing for terms?
[13:35]  You: I took a calcualted risk when i rolled them in monday-tuesday night
[13:35]  You: because it could’ve been taken as a signal of weakness to roll it in during downturn
[13:35]  You: Niiiiiiceeee, limits lifted, next to 0 withdraws so far!
[13:35]  Lea Cummings: A high interest rate for a one month CD would be a solution may be.
[13:36]  Fender Todd: Back shortly.
[13:36]  SLIB ATM Green: Term deposit lengths: 30, 60 and 90days. Interest bonuses respectively: 0.020%, 0.055%, 0.095%, minimum deposits respectively: 5,000L$, 15,000L$ and 40,000L$

4: 5,500.00L$, Interest: 0.090%

[13:36]  Dzonatas Sol: Yes, and the inertia for MAI is back up
[13:36]  Magnus Stovall: I think this recovery though with gambling will take longer then one month
[13:36]  You: Well 30days: +0.020% daily, 60d: +0.055%, 90d: +0.095%
[13:37]  Wie Wunderlich: on top of 0.07?
[13:37]  You: yeap
[13:37]  You: i got to change that text so it’s easier understood
[13:38]  MystiTool HUD 1.0.21: Entering chat range: ChuChu Ricardo (15m)
[13:38]  Wie Wunderlich: if the larger despositors gave you the 2 and a half million …
[13:38]  Wie Wunderlich: would you even consider making SLIB into a mutual company?
[13:39]  You: Wie: not easily really
[13:39]  You: because that would mean an another level of liabilities to pay
[13:39]  You: if i understood your question right, taking SLIB as public?
[13:39]  Magnus Stovall is against that idea but
[13:39]  Wie Wunderlich: not in the usual way … private shares … restricted % of ownership
[13:40]  Wie Wunderlich: likw max 5% per person
[13:40]  You: aah
[13:40]  Wie Wunderlich: but that iis on the sidelines … i did understand you need 2 1/2 million - right?
[13:40]  You: Yes, to get back to pre VAT level
[13:41]  Wie Wunderlich: well ask the larger sespot owners and mai investors per individuall letter
[13:41]  Wie Wunderlich: a message on the group might trigger angst
[13:41]  Wie Wunderlich: sespot : deposit
[13:41]  Lea Cummings: Yes, good communication is essential
[13:41]  Tyrian Camilo nods
[13:42]  You: That takes a lot of time
[13:42]  Wie Wunderlich: a note dragged onto a profile …
[13:42]  You: Lynn: can you prepare a notecard, so i’ll get then list of people to whom send it?
[13:42]  You: Wie wunderlich: when you send to 100 persons it takes a bit time X)
[13:42]  You: Actually i’ll write the notecard
[13:43]  Wie Wunderlich: yes .. i admitt
[13:43]  You: aah but i can automate it! No worries
[13:44]  You: I thikn everything really important was already covered
[13:44]  You: If any one has any further ideas, now is the time if any to come forward
[13:45]  Glenn Goodliffe: please keep up the great work Tyrian. we really appreciate it!
[13:45]  You: Ty Glenn, i will
[13:45]  You: Infact, i just ordered a week ago some books covering banking and real estate (4 of them infact)
[13:45]  You: to learn more
[13:45]  Wie Wunderlich: have you paid this onths tiers already?
[13:45]  You: and thus make bette rbusiness
[13:45]  Lea Cummings: Yes, you should state that SLIb will stay SLIB as we all know and like it
[13:45]  You: Wie: Nope, they are coming, 6th and 12th
[13:46]  You: and Mun Saari 8th
[13:46]  Lynn Binder: I agree with Lea
[13:46]  Lynn Binder: there needs to be a very positive note sent out regarding the outcome of this meeting to all SLIB customers
[13:46]  MystiTool HUD 1.0.21: Entering chat range: Investor Merlin (2m)
[13:46]  You: ok, will make transcript within an hour after this meeting and announce to nigger hcances are going to happen
[13:46]  Wie Wunderlich: yes - underlining the strong community
[13:47]  Lynn Binder: community and trust
[13:47]  Wie Wunderlich: in Tyrian
[13:47]  You: I would like to note
[13:47]  You: i was just being happy a sno withdrawals
[13:47]  You: last 15mins: over 150k L$ gone out again :O
[13:48]  Wie Wunderlich: I was so happy unsure ppl made MAI so xcheap for a while
[13:48]  You: Yeap, and it’s a bit cheap still!
[13:48]  Magnus Stovall: well…
[13:49]  Grant Ferraris: that sucks, Tyrian, count me in for a deposit of L$ 25k within the hour.
[13:49]  You: Ty Grant!
[13:49]  Grant Ferraris: yw
[13:49]  Magnus Stovall: perhaps freezing the deposits for a time might be good or freezing withdraws
[13:49]  Lea Cummings: No, dont make peole feel they are cut off from their money. Just limit it.
[13:49]  Wie Wunderlich: wow .. well when someone notices the limit is reached that spreads like wildfire
[13:50]  You: Wie: True
[13:50]  Wie Wunderlich: i remember groubs standing at ginko trying to draw
[13:50]  You: i just am amazed those who like to smear me hasn’t ran smear campaigns due to that
[13:50]  Magnus Stovall: that is the problem Lea
[13:50]  Fender Todd: People are going to end up in the same situation if they can’t control themselves.
[13:50]  You: I have to limit per account even further now
[13:51]  Lea Cummings: yes, but also tell people why and thats only for a given time
[13:51]  You: True
[13:51]  Grant Ferraris: i agree with Lea, make a clear line to tell why you limit it.
[13:51]  You: Ginko didn’t do that
[13:52]  Wie Wunderlich: no - ginko sqirmed in the mire of desparation
[13:52]  You: Yeap!
[13:52]  You: I have to lower the withdraw limit tomorrow
[13:52]  You: if this doesn’t stop
[13:52]  Lea Cummings: If people are unsure, they will panic and draw all hy can get
[13:52]  You: truth being told: I have only about 500k L$ liquid anymore!
[13:52]  Wie Wunderlich: right
[13:52]  Fender Todd: Tyrian, the thing is that most people don’t understand accounting and they don’t realize the impact a series of withdrawals has. You have to explain it in simple terms.
[13:52]  Magnus Stovall: I would do it today
[13:53]  Wie Wunderlich: how high are the tiers on the 6th?
[13:53]  You: And we got 280k L$ worth of tiers coming in the next 9days!
[13:53]  MystiTool HUD 1.0.21: Entering chat range: Huntress Palen (19m)
[13:53]  You: wie: they are only few hundred
[13:53]  MystiTool HUD 1.0.21: Entering chat range: ChatNoir Moonsoo (9m)
[13:54]  Grant Ferraris: if you all will excuse me, have a nice evening, Tyrian thanks for all your hard work, hope that sunshine will come soon again.
[13:54]  Wie Wunderlich: can you sell mai stock off of WSE? and if yes, would you be allowed to put that in SLIB?
[13:54]  Wie Wunderlich: can MAI invest in SLIB?
[13:54]  Lynn Binder: Have another meeting in 6 minutes, will check the blog
[13:56]  You: Wie: no i can’t not
[13:56]  You: Wie: All MAI liquid is already in it’s SLIB account lol
[13:56]  You: Lynn: ok, ttyl
[13:57]  You: Investor
[13:57]  You: you have not said a word
[13:57]  Investor Merlin: You’re right I haen’t, I had to run and have been busy working so was just watching what was going on.
[13:58]  Huntress Palen: Have you identified the cause of the problem this time? THe LL changes in collecting the VAT or ???
[13:58]  You: Huntress: Yes, definately VAT which caused this problem
[13:58]  Dzonatas Sol: I gotta get back to work here. I appreciate being able to meet everyone here.
[13:58]  You: SLIB wasn’t doing GREAT but nevertheless OK before that
[13:58]  Investor Merlin: I would have to say you’re doing a good job as you always do to try to manage things during this troubling times in SL.
[13:58]  Magnus Stovall: Its the VAT a lot of Europeans are cashing out of game Huntress
[13:58]  You: So, root cause for current panic: VAT
[13:59]  Huntress Palen: It almost seems as though Linden Labs is bent on destroying the SL economy and community.
[13:59]  Investor Merlin: Yes which creates a situation which is beyond the control of those of us in the SL community
[13:59]  You: Indeed Huntress!
[13:59]  Magnus Stovall: Actually I think its a judge in Pennslavanyia that gave them the fear of him
[13:59]  MystiTool HUD 1.0.21: Entering chat range: Calixus Voom (19m)
[13:59]  Magnus Stovall: and unfotunately its a federal judge
[14:00]  You: Anyways, i have few tax shelter options lined up, some other plans to make SL banking even better
[14:00]  You: etc.
[14:00]  Wie Wunderlich: can we VAT exemt guys help you in anyway?
[14:00]  You: Magnus: Well, LL is going to be sued over this by end of Octoboer
[14:01]  You: Wie: Definately! Tax shelter! X)
[14:01]  Magnus Stovall: Oh I am sure
[14:01]  You: Basicly, i still need someone through which to buy islands & mainland sims
[14:01]  Wie Wunderlich: Well tell me how and I’ll consider it (have a VAT ID Number)
[14:01]  Fender Todd: And I don’t pay VAT at all.
[14:01]  ChatNoir Moonsoo: and i don’t have to pay VAT
[14:02]  You: There are several methods, what is most convenient for you Wie?
[14:02]  Magnus Stovall is the US but I will need a guarentee that the tier will get paid
[14:02]  Wie Wunderlich: Dunno … I would expect your suggestions.
[14:02]  Magnus Stovall: So could do that
[14:02]  Magnus Stovall: or you could go through me
[14:02]  Magnus Stovall: and avoid the VAT
[14:02]  You: Saefst & easiest for you is that you get Mainland tier, and i pay you in L$ monthly, even upfront if you want
[14:03]  You: ty Magnus
[14:03]  Wie Wunderlich: i see
[14:03]  ChatNoir Moonsoo: works for me
[14:03]  You: Dates of premium?
[14:03]  Magnus Stovall: Mine on the 30th of each month
[14:03]  ChatNoir Moonsoo: what do you mean?
[14:03]  Wie Wunderlich: jan 08
[14:03]  You: ChatNoir: Your premium & mainland tier fee payment day
[14:03]  ChatNoir Moonsoo: i’m on yearly payment, but tier is paid each month
[14:03]  Calixus Voom: Tyrian will you post a transscript of this meeting, please?
[14:04]  You: wie: wow! 8th, that means you are almost perfectly on the time i need too, 12th
[14:04]  You: Calixus: yes i will
[14:04]  ChatNoir Moonsoo: my tier is due each 18th
[14:04]  Calixus Voom: great
[14:04]  Wie Wunderlich: no … sorry that was my membership
[14:04]  You: Wie: it’s by your membership
[14:04]  Wie Wunderlich: I don’t own LL Land - only bloody ansche
[14:04]  You: If you bought premuim the 8th, then your tier is 8th
[14:04]  Wie Wunderlich: oh
[14:04]  You: everyone is leaving from anshelandia
[14:05]  Magnus Stovall: Its due the same day as your membership
[14:05]  Wie Wunderlich: i see
[14:05]  Wie Wunderlich: wait … checking that (Jan 08 is a month)
[14:06]  You: Wie: you just go on “my account” and the date is down there
[14:07]  Glenn Goodliffe: ty Tyrian, i gtg. please list the main decisions and changes in a brief message.
[14:07]  Wie Wunderlich: January the 14th
[14:07]  Jermaine Jannings: I need to go too. Thanks for your work, Tyrian!
[14:07]  You: Glenn: i will try to summarise
[14:07]  Glenn Goodliffe: ty!
[14:07]  You: Ty Jermaine!
[14:07]  You: Wie: aah damn, 14th
[14:08]  Wie Wunderlich: sorry
[14:08]  You: Magnus: i think i should use you then
[14:08]  You: and BNT for islands
[14:09]  Magnus Stovall: k we can discuss it after the meeting Tyrian
[14:09]  Wie Wunderlich: does it formaly mean handing over the land?
[14:09]  ChatNoir Moonsoo: yes, Wie
[14:09]  You: Wie: no, only group donation
[14:09]  You: ooh, using BNT for islands, yes it includes that
[14:09]  You: under contract
[14:09]  ChatNoir Moonsoo: Tyrian, in that case the owner of the group will be charged the VAT
[14:09]  You: in effect, BNT is a trustee
[14:09]  You: ChatNoir: lol, will not
[14:10]  You: ChatNoir: isn’t stated there Please, get your facts straight
[14:10]  Magnus Stovall: All I have to do is form a group
[14:10]  ChatNoir Moonsoo: we’ll see
[14:10]  ChatNoir Moonsoo: the point for LL is: they have to charge VAT
[14:10]  Magnus Stovall: and make Tyrian and the europeans as officers
[14:10]  Wie Wunderlich: test it on smal scale first
[14:10]  ChatNoir Moonsoo: VAT is charged for LL services to european customers
[14:11]  Magnus Stovall: and I am inteh US
[14:11]  ChatNoir Moonsoo: european customer donates land tier to group - european customer gets charged
[14:11]  ChatNoir Moonsoo: so how does a group donation avoid the VAt on land tier?
[14:11]  ChatNoir Moonsoo: it’s simple
[14:11]  You: ChatNoir: Incorrect, VAT is being paid by WHO pays the tier fee
[14:11]  Magnus Stovall: Exactly ChatNoir
[14:11]  ChatNoir Moonsoo: yes, and group members who can make donations are liable for tier fee
[14:11]  Wie Wunderlich: if ll is in uk, i do not have to pay vat (as business owner in germany)
[14:11]  ChatNoir Moonsoo: wrong wie
[14:12]  You: ChatNoir: Magnus gets tier, donates to group, i cancel all mainland tier
[14:12]  ChatNoir Moonsoo: it does not mateter where ll is
[14:12]  Wie Wunderlich: does
[14:12]  Calixus Voom: Wie: MwSt is VAT actually
[14:12]  You: Ok CHATNOIR!
[14:12]  You: SHUT UP!
[14:12]  ChatNoir Moonsoo: what matters is here the customer receiving LL’s service is
[14:12]  You: I’m tired of your false information and causing grief to SLIB, and me
[14:12]  ChatNoir Moonsoo: sorry, Tyrian?
[14:12]  Wie Wunderlich: i only can be tax exempt on imported goods and servixces
[14:12]  ChatNoir Moonsoo: would you like to substantiate that accusation?
[14:13]  You: ChatNoir: Do you really want that happen publicly? Please excuse yourself.
[14:13]  ChatNoir Moonsoo: i have nothing to hide
[14:13]  You: Anyways, this meeting is over
[14:13]  Wie Wunderlich: Calixus, ist mir schon klar
[14:13]  You: Magnus: shall we discuss in IM how we handle it
[14:13]  Magnus Stovall: yes
[14:14]  You: ChatNoir: You blamed me for false accusations on “The Bank”, what happened?
[14:14]  You: You blamed me for not bringing you evidence.
[14:14]  ChatNoir Moonsoo: no, i asked you questions, Tyrian
[14:14]  You: Question is, how much did you loose money on “The Bank”, while imposing to be a big and good SLIB client
[14:14]  ChatNoir Moonsoo: not my fault that you feel attacked when someone asks a question
[14:14]  You: And i gave answers
[14:14]  You: Let’s remember i do have chat logs, you then proceeded to harass my employee with the same stuff
[14:15]  ChatNoir Moonsoo: i have logs too
[14:15]  You: End of discussion, and end of meeting