Thunes to acquire payments platform Tilia LLC

[Persephone Emerald]

2 hours ago, Sid Nagy said:

I don't know, I never hold USD in my account. If I have a surplus in L$, I strart to spend more in world.
My shop isn't a big moneymaker. I keep it for the fun of it all. But sometimes it makes more than my tier.

If you only rent from other users in SL, then you could pay for everything in lindens and never use Tillia or Thunes.

However, if you have a Premium account and pay for it or additional tier, then you must be exchanging inworld linden dollar tokens for real $ US dollars. There is a fee when you do this and the minimum amount is $ 3.00 worth of lindens. This is the same as selling lindens on the Lindex. When you sell them, the dollar amount you get goes into your $US dollar account, which is currently managed by Tillia. From there LL can use your balance to pay for your Premium account, tier payments, or any other payments to them.

[Ceka Cianci]

44 minutes ago, Coffee Pancake said:

they will likely have both as part of the transaction

we dont added funds to a personal account and then distribute it to our in world avatars, its a per avatar relationship

I'd go watch the lab gab again where they discuss it and he mentions that they won't have that information. Just the financial information.

Edited April 30 by Ceka Cianci

[Jaylinbridges]

They are called Tilia Dollars because they are held by Tilia.  When Thunes takes over and rebrands Tilia, they will be called Thunes Dollars, maybe.  Thunes is slang for cash.  So Cash Dollars? - a dollar isn't worth a dime today anyway.  It's just a promise to pay, backed up by only the U.S. Military strength.  No real asset backs up the dollar, since Nixon took it off the gold standard in the 1970's.  

When you buy L$ with your external account, your USD goes to Tilia, which they immediately send to the Linden exchange as a market or limit buy order.  There is also a fee to buy L$ from Tilia dollars. Who gets that fee, Tilia or LL?  When the order is filled, you get your L$ in your SL account.  

Cashing out is all Tilia.  Your Tilia Dollars must already be in your Tilia account before you can do a process transfer.

I usually leave a substantial sum of my USD balance with Tilia.  It makes paying for land tier and Premium accounts easier because I don't need to worry if Paypal has the funds.  My dollars are already with Tilia.  Paypal will no longer use your connected checking account funds if your Paypal balance does not cover your withdrawal.  A new rule they put into effect this year.

(I'm surprised so many forum members neither buy lindens or cash them out.  I guess you don't need to do that if all you do is post here.)

Edited April 30 by Jaylinbridges
Watch out for the word police here!

[Love Zhaoying]

5 minutes ago, Jaylinbridges said:

They are called Tilia Dollars because they are held by Tilia. 

Who calls them that? I've never heard of "Tilia Dollars".

[Love Zhaoying]

8 minutes ago, Jaylinbridges said:

I'm surprised so many forum members neither buy lindens or cash them out

I buy L$. I've never bought "lindens".

[Jaylinbridges]

3 minutes ago, Love Zhaoying said:

I buy L$. I've never bought "lindens".

You need to get out more in world, where the verbal slang for L$ is lindens.  But I will correct my post to make the literal word police happy.

[Ceka Cianci]

1 minute ago, Love Zhaoying said:

I buy L$. I've never bought "lindens".

If it doesn't start in the right section and starts and the beginning of the video, Go to the 17:33 section of the video and he talks about your financial information being with tillia and your second life information remaining with second life..

 

[Rowan Amore]

11 minutes ago, Love Zhaoying said:

Who calls them that? I've never heard of "Tilia Dollars".

It's Linden dollars and the Tilia account balance which is in USD.  

[Jaylinbridges]

35 minutes ago, Love Zhaoying said:

Who calls them that? I've never heard of "Tilia Dollars".

I do!  The official name for USD not yet cashed in to real USD is 

"US$ Tilia Account"  (From your Tilia Account summary page)

US$ kept in my Tilia account, are Tilia Dollars to me, equivalent to USD minus the transaction fees when they send them to PayPal or Skrill, where I can actually use them in RL.  

It works like this.  US Dollars that are not useable to me because they are kept in a money transmitter business, which is called Tilia, are USD kept in my Tilla account.  Tilia US$ because they are not real currency until I can spend them in the RL.  Tilia US Dollars, can be shortened to Tilia Dollars, because that's what we call dollars in the USA.  You seem to have a problem understanding common word usage.  I don't ask for change in US Dollars at the grocery store.  I ask for 20 Dollars, preferably one bill.

Edited May 1 by Jaylinbridges

[Love Zhaoying]

30 minutes ago, Rowan Amore said:

It's Linden dollars and the Tilia account balance which is in USD.  

Thanks, thought I missed something big for a second there (as usual).

[Rowan Amore]

US$ Tilia Account Summary

US Dollar balance:USD 0.00

[Jaylinbridges]

Processing credit with Tilia

In order to stay in compliance with regulatory requirements, if you wish to  credit a portion of your U.S. Dollar balance to your PayPal or Skrill account  (known as processing a credit)  then you must provide certain personal information to verify your identity, including your:

• Name
• Address
• Date of birth
• Social security number (or government-issued identification if you are not a U.S. Citizen).

You may also be required to provide additional information to complete the transaction. Tilia securely stores this information so that you should only need to provide it once.

[Persephone Emerald]

14 minutes ago, Jaylinbridges said:

I do!  The official name for USD not yet cashed in to real USD is 

"US$ Tilia Account"  (From your Tilia Account summary page)

US$ kept in my Tilia account, are Tilia Dollars to me, equivalent to USD minus the transaction fees when they send them to PayPal or Skrill, where I can actually use them in RL.  

It works like this.  US Dollars that are not useable to me because they are kept in a money transmitter business, which is called Tilia, are USD kept in my Tilla account.  Tilia US$ because they are not real currency until I can spend them in the RL.  Tilia US Dollars, can be shortened to Tilia Dollars, because that's what we call dollars in the USA.  You seem to have a problem understanding common word usage.

That part where it says"US$" means United States dollars. The part where it says "Tillia Account" means they are held in an account controlled by Tillia. I tend to write $ US to distinguish US dollars from other currencies that are also called dollars. 

[Rowan Amore]

3 minutes ago, Love Zhaoying said:

Thanks, thought I missed something big for a second there (as usual).

Do you call money you have in other RL accounts Bank dollars?  I don't.  Even if an ATM charges me a fee to withdraw.  Dollars is dollars.

Edited May 1 by Rowan Amore

[Love Zhaoying]

2 minutes ago, Rowan Amore said:

Do you call money you have in other RL accounts Bank dollars?  I don't.  Even if an ATM charges me a fee to withdraw.  Dollars is dollars.

Nope, only fake "store credit" money is renamed usually.

[Jaylinbridges]

19 hours ago, Rowan Amore said:

Do you call money you have in other RL accounts Bank dollars?  I don't.  Even if an ATM charges me a fee to withdraw.  Dollars is dollars

Well, If I have dollars in a Chase Bank account and dollars in a Schwab money market account, I might call them Chase dollars and Schwab dollars, to remind me where they are.  US$ kept in a Tilia account are not the equivalent of dollars kept in a US bank.  Tilia is not a bank. They charge a 5% fee to send them to a real bank. I can't pay my RL rent with dollars kept in Tilia.  But I can if they are in PayPal, or Chase, or Schwab., and I don't have to pay a 5% fee and wait 10-15 days until the money is available.  There is a difference.  

Some SL peeps who actually work in SL and depend on their L$ getting processed to a real bank account, have had to get a RL loan to pay their monthly rent - because of the delays from Tilia processing your Tilia US$ into a real US bank.  In one case it took 30 days for her (a SL business manager) to finally get her USD from Tilia.  

 

Edited May 1 by Jaylinbridges

[Rowan Amore]

Well, since you can pay for premium, land use fees, private region fees and purchase Ls with your Tilia USD balance, seems like real money to me.  

[Jaylinbridges]

5 minutes ago, Rowan Amore said:

Well, since you can pay for premium, land use fees, private region fees and purchase Ls with your Tilia USD balance, seems like real money to me

But can you buy a Big Mac with Tilia USD?  RL vs SL - sometimes there is a difference.

[Jaylinbridges]

Tilia was acquired by Thunes on April 23, 2024.  In case that wasn't clear, I see the Thunes webpage listing all their worldwide offices now has their new San Francisco office address listed.  This is the same address and office where Tilia was/is located, on the 6th floor at the corner of the California street triangle, in the heart of the SF financial district.  I wonder if they have changed the building directory yet?  It is a secure access building, other than the donut shop on the first floor, so street bums can't ride the elevator or use the restrooms.

 

Edited May 1 by Jaylinbridges

[Rowan Amore]

36 minutes ago, Jaylinbridges said:

But can you buy a Big Mac with Tilia USD?  RL vs SL - sometimes there is a difference.

Can't buy a big Mac with the dollars in my IRA either unless I withdraw them, possibly incurring a fee for early withdrawal.  

[Jaylinbridges]

6 hours ago, Rowan Amore said:

Can't buy a big Mac with the dollars in my IRA either unless I withdraw them, possibly incurring a fee for early withdrawal.  

In one of my past businesses as a financial advisor, I would not recommend you cash in your IRA to buy Big Macs. They do not increase in value with age. In fact they decay after a few weeks at room temperature.

Edited May 1 by Jaylinbridges

[Persephone Emerald]

1 hour ago, Jaylinbridges said:

But can you buy a Big Mac with Tilia USD?  RL vs SL - sometimes there is a difference.

You might not be able to buy a Big Mac, depending on how many "Tillia dollars" you take out, but you may be able to buy either a basic hamburger or fries. 🍔 🍟 

[Jaylinbridges]

The Lindens should never have named their game token a linden dollar.   It's nothing close to a dollar,, the $L is 1/250 (0.004) of a US Dollar.  They didn't need to use their company name either, just to confuse Love.  When someone asks me how to buy Lindens, I don't tell them that slavery ended in the USA after the Civil War, and they should not be thinking about owning slaves. And I surely don't know if any of the linden staff are for sale.  

Nope, I know they are talking about the SL game token, the poorly named L$.

 

Edited May 1 by Jaylinbridges

[Ceka Cianci]

7 hours ago, Rowan Amore said:

Well, since you can pay for premium, land use fees, private region fees and purchase Ls with your Tilia USD balance, seems like real money to me.  

I think the reason they let you use the tilla money for services, is because, you aren't removing money from the service, but putting it back into the service. 

If it was real world usable money at the tilla dollar, besides usable within the service..  you would have to pay either income tax or property tax on it right after the linden dollar exchange. 

It may be looked as even a reinvestment. 

[Rowan Amore]

3 hours ago, Ceka Cianci said:

I think the reason they let you use the tilla money for services, is because, you aren't removing money from the service, but putting it back into the service. 

If it was real world usable money at the tilla dollar, besides usable within the service..  you would have to pay either income tax or property tax on it right after the linden dollar exchange. 

It may be looked as even a reinvestment. 

 

I'm not saying Tilia is a bank in any way but the money in your Tilia account IS real money just like in a bank. 

If you have money in your PayPal account (from Tilia transfer) and the bill you wish to pay does not accept PayPal, you then need to transfer that money to your bank account. PayPal charges a fee for instant transfers.  With Thunes, we should be able.to move the USD balance directly to our bank account.  It's the same money as before just without the PayPal/skrill middleman.