WSE Down - But Coming Back
step 3: Close virtual stock exchange for 30 days. step 4: Directors resign. step 5: Profit?
by Jessica Holyoke
LukeConnell Vandeverre has plans for WSE
Upon entering the World Stock Exchange, visitors are greeted with a notice that the ATM's and assorted systems will be down for up to 30 days. After two trading days of 3.8 million shares on January 2nd and 2.4 million shares on January 3rd, LukeConnell Vandeverre announced a shut down in order to update the WSE to WSE 4.0.
The new WSE promises better security, increased functionality and more features. As part of the evolution of the WSE, the directorship has been changed. Three non-executive directors, Simon Sugita, Erik Goff and Jermaine Sapwood, all resigned from Hope Capital Limited. Vandeverre stated that one of the new functions of the WSE 4.0 is the ability for shareholders of the WSE to vote on the board of directors based on individuals he nominates.
WSE ATMs go missing
Plans for the WSE 4.0 include opening up trading to non Second Life residents by increasing the use of the fictional World Internet Currency and allowing others to take part in the fictional WSE and enjoying the entertainment and educational value therein. Additionally, Market Rules, in keeping with the WSE Terms of Service, governing the interactions between game participants, will be released closer to the unveiling of WSE 4.0.
Seems like boy Vandeverre is implementing new ways to squeeze even more lindens from Citizens... He has even employed newbie campers to try and trick newbies into investing, without them knowing anything about the tricky SL Economy.
And did I read correctly: "Vandeverre stated that one of the new functions of the WSE 4.0 is the ability for shareholders of the WSE to vote on the board of directors based on individuals he nominates.
".... individuals HE nominates??? Alt01, Alt02, and Newbie Unicornicum? LMFAO!!!
Come on... WSE is one gigantic fraud! And yes, I have been trading there for a long time until I realized what Lucky LukeConnell had on his mind... And that's NOT good for YOUR wallet...
I wonder if there are any ties with JTFinancials... Juice Trading Financials... if it sounds like a scam, and smells like a scam, guess what? Then it most likely IS a scam... Juice Trading World Stock Exchange... Don't make me laugh, it hurts my bad back...
Posted by: Lucky Luke Vandeverre | January 04, 2008 at 09:49 AM
I WANT GINKO BACK!!!! At least my still disapeared money, now beeing hold by, he... that's funny... WSE!
Posted by: Jean Doe | January 04, 2008 at 09:52 AM
How is he squeezing money out of citizens when YOU DON'T HAVE TO GIVE HIM SHIT!?! Sounds like another moron that lost his money because he didn't understand what the fuck he was doing.
Also, do you have any conclusive proof about the newbie camper accusations? And none of the "I personally saw..." bullshit that most SL-tards use to try to validate their assertions.
Investing in SL financial institutions is still stupid (unless you take it for the game that it is) but from everything I've seen (I have made a decent sum of money from trading on WSE before the Ginko collapse) Luke's only real crime was coming into this as new and naive as he was about how SL works socially. I would have invested more if he had been poking around SL for more than a year before he started the WSE.
Good job on this one, Jessica! It actally looked like you tried to be objective and "journalistic" this time!
Posted by: DaveOner | January 04, 2008 at 12:11 PM
@ 1st photo in article: So, I am expected to invest in a bank in which the owner is about to take a nap inside his business? Or is he inviting me to snuggle? No thank you. I will keep my lindens where they belong and that is in the top-right corner of my screen.
Posted by: Lao-Tzu | January 04, 2008 at 03:10 PM
As WSE is nothing more than a finance oriented Roleplay group, I wouldn't think anyone should be surprised at all of this. RP sims close and restructure all the time. Donated funds disappear, members change. Just another day in SL. I just feel a bit sorry for those that expected more.
Posted by: Darien Caldwell | January 04, 2008 at 03:44 PM
What's upsetting to me is that WSE, other SL stock exchanges, and other SL banks still make it to news blog reels. SL journalists are still treating stock exchanges in SL as if they are actually stock exchanges. WSE is not the dow jones or the nasdaq, it doesn't need reporting on, it's not changing the SL economy... as Lao-Tzu put it, it's a roleplay group. In a roleplay group, there's never important news that needs to be mentioned to anyone outside of the roleplay group.
Posted by: Doubledown Tandino | January 04, 2008 at 05:35 PM
Lukes staff has also been quitting. Alex1, Smithers Daviau, among others have left over "issues". Everybody is leaving HCL/WSE to avoid being named in a lawsuit over the Midas Bank Heist by Luke.
Luke needs 30 days to get a good head start on the law...
Posted by: Take The Money And Run | January 04, 2008 at 06:32 PM
Doubledown has really hit the nail on the head. This is a roleplay group for people who never had jobs in real life and want to go through the motions in simulation. It's like the way little puppy dogs practice humping.
Posted by: Prokofy Neva | January 04, 2008 at 08:40 PM
SL Herald, due to your confusing format on this and every page where readers' post commnents, I was mis-quoted above. Look at the comments . The author of each post "seems" to be right above the comment-inside a box. When in fact, the author of each comment is BELOW the comment. Look at other blogs if you cannot figure this out on how to correct this. This would be an easy fix. I will repeat for clarity: please do not create a box that encloses the wrong author's name right above a comment. TY :) Posted by Lao-Tzu
Posted by: Lao-Tzu | January 04, 2008 at 08:47 PM
Lao-Tzu, in this funny thing we call "real life," letters to the editor to newspapers, oh, letters to *anything* are set up like this:
Dear Editor
Blah blah.
Yours,
Signed,
Name
So, your name goes LAST.
And...it's not anything the Herald does, it's what the host Typepad does in their template, which cannot be changed.
It's no "fix," you just need to get used to the idea that first comments the comment, then the name.
Posted by: Prokofy Neva | January 05, 2008 at 02:07 AM
This is just too too funny! The fool and his money are soon parted just as a man and he money are parted!
I wonder when Linden Labs and the police from the different countries will step in and stop this nonsense once and for all. I see a group of talented but criminal teens and preteen going to jail or reform school!
The police are here looking for perverts it is only a matter of time. Robin Harper the German press are on the job and getting ready to pounce!!
Posted by: Ranma Tardis | January 05, 2008 at 06:14 AM
"...allowing others to take part in the fictional WSE and enjoying the entertainment and educational value therein...."
The operative part of the announcement.
Posted by: Jazzman Jibilla | January 05, 2008 at 03:55 PM
Take The Money And Run said, "Lukes staff has also been quitting. Alex1, Smithers Daviau, among others have left over "issues". Everybody is leaving HCL/WSE to avoid being named in a lawsuit over the Midas Bank Heist by Luke.
Luke needs 30 days to get a good head start on the law..."
Is this true?????
Posted by: Rut Roh | January 05, 2008 at 04:33 PM
@Rut Roh: "Is this true?????"
No, it ins't.
Posted by: Extrems Brock | January 05, 2008 at 06:17 PM
Its true all those people have left/resigned over the Midas theft by Luke (as well as over the theft of 1.5 million L$ worth of stocks held by Investor Merlin which should have been handed over to Skip Oceanlane). Lukes become an economic serial killer and nobody intelligent wants to be in the path of the fallout.
Posted by: Take The Money And Run | January 05, 2008 at 10:02 PM
@ Ranma > "Robin Harper the German press are on the job and getting ready to pounce!!"
Haha, this is the only thing that gets the Lindens, especially Robin (Who is so obviously in the churches pocket to enforce mind police) to move.
I still think that dead fish look of hers was the highlight of 2007 "You mean... people are having sex in SL? OMG I have to stop this or they will go to hell"
The finance RP community might be the next to be sanctioned. Pixel kids can no longer be near a sexgen, soon the Bankers will not be allowed near a cash register.
Posted by: Angel | January 05, 2008 at 11:30 PM
Angel says, "The finance RP community might be the next to be sanctioned. Pixel kids can no longer be near a sexgen, soon the Bankers will not be allowed near a cash register."
Youre one to talk Angel, if anybody gets sanctioned, its butt rangers with too many Linden bed buddies abusing power and getting innocent people B& for alleged events that allegedly happened 5 months before their avs were born.
Posted by: Angel On The Red Button | January 06, 2008 at 03:37 AM
@Extrems Brock
How do you know? Are you a WSE insider? If not, why should we listen to you?
Posted by: Rut Roh | January 06, 2008 at 09:53 AM
@Rut Roh: "How do you know? Are you a WSE insider? If not, why should we listen to you?"
Right click on an ATM, select 'Edit...', go in the 'General' tab and check who is the creator.
Posted by: Extrems Brock | January 06, 2008 at 12:29 PM
> "The finance RP community might be the next to be sanctioned. Pixel kids can no longer be near a sexgen, soon the Bankers will not be allowed near a cash register."
Was I was right or was I right?
> "Youre one to talk Angel, if anybody gets sanctioned, its butt rangers with too many Linden bed buddies abusing power and getting innocent people B& for alleged events that allegedly happened 5 months before their avs were born."
You are making the same mistake as Daddy's Cock. I'm not Angel Fluffy, the similarity end with the first name.
Posted by: Angel | January 10, 2008 at 02:47 AM