{"id":4125,"date":"2014-07-19T20:32:20","date_gmt":"2014-07-19T19:32:20","guid":{"rendered":"http:\/\/sl.governormarley.com\/?p=4125"},"modified":"2014-07-19T20:32:20","modified_gmt":"2014-07-19T19:32:20","slug":"the-mysterious-case-of-inworldz-cash-outs","status":"publish","type":"post","link":"https:\/\/sl.governormarley.com\/?p=4125","title":{"rendered":"The Mysterious Case Of Inworldz Cash Outs"},"content":{"rendered":"

There’s an odd forum announcement over on the Inworldz forums<\/a> :<\/p>\n

Over the course of the last couple of months or so, it has become apparent that Linden Labs has been tightening the cash outs, or taking longer, etc., thus forcing people to make accounts over here to attempt to cash their L’s out.<\/em><\/p>\n

For clarification: InWorldz economy stands on it’s own, we are not tied to Linden Lab, nor any other grid for that matter. When you attempt to cash out against our merchants and residents who are growing this economy, while not being a part of it, we will remove the cashout.<\/em><\/p>\n

From a business standpoint, we are not about to start absorbing a loss for Linden Lab and their cash outs. This would be very foolhardy on our part to even try to absorb those. If you wish to cash out in our world, then you need to be a part of it, otherwise expect us to put a hold on those monies and not cash them out (as this also sets off my fraud flags when I look over the accounts).<\/em><\/p>\n

If you are encouraging people to bring their cash outs over here, please stop. This is not helpful to our merchants or residents who do normal business daily in our grid. If you know someone who is encouraging others to do this, please let them know to stop or send them to this thread \ud83d\ude42<\/em><\/p>\n

Thanks everyone!<\/em><\/p><\/blockquote>\n

The odd part about this is that I’m not sure how anyone is exchanging money from Second Life to Inworldz or vice versa, as far I was aware this sort of exchange ended long ago. In their TOS update thread, an October 2012 announcement<\/a> stated :<\/p>\n

Unfortunately, at this time, our losses due to Fraud have become too high to sustain and we are effectively shutting down any ATM business. Owners that we are aware of have been notified, and we will no longer allow intergrid currency exchanging.<\/em><\/p><\/blockquote>\n

Furthermore\u00a0the InworldZ TOS<\/a> states :<\/p>\n

InWorldz, LLC further establishes that any service designed to transfer I’z into or out of it’s service may result in account termination. This includes, but not limited to: ATM machines designed to transfer I’z out of InWorldz into other currency, people or accounts created to transfer I’z out of InWorldz into other currency, or any other system deemed by InWorldz staff to be accommodating such transfers.<\/em><\/p><\/blockquote>\n

So I am somewhat bemused as to how anyone is using Inworldz for cashing out, rather than cashing out via Second Life.<\/p>\n

<\/p>\n

This is also the sort of thing that may have Linden Lab scratching their heads too because trading Linden Dollars on third party exchanges was banned in 2013. In May 2013 Linden Lab did announce ways to buy Linden Dollars<\/a> from authorised third party exchanges<\/a> but not to sell them.<\/p>\n

I don’t know if someone has found a way to exploit transfer of currencies between the two grids but I’d be very wary of getting involved in anything like this, Inworldz clearly don’t like this and Linden Lab most definitely won’t like this.<\/p>\n

There’s another interesting statement in the original Inworldz thread<\/a> I linked to. \u00a0Someone asks how long it will be before Inworldz has to add the tax requirements Linden Lab now have for Second Life, the answer is :<\/p>\n

Fairly soon actually. I need to really have those in place before 2015 rolls around for the new tax year. Although I’m working out a much easier method so we don’t slow down cash outs for our users, just put in the limit if they are not willing to comply with what we need.<\/em><\/p><\/blockquote>\n

Tax and account requirements look like they will be coming to Inworldz and in the future many more virtual worlds, so we should get used to them.<\/p>\n

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