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Curtiss Spad

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About Curtiss Spad

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  1. I would also add accounting oversight organizations. I am not a CPA, but I do have my degree in accounting. In US generally accepted accounting principles (GAAP) an "asset" is anything which may be converted to cash or cash equivalents. Such assets, unless found in insignificant quantities only, are required to be included in financial statements for companies requiring audited financial reports. L$ are very easily converted to USD, whether or not Linden Labs sets the Market. Whether or not LL wants to admit it, L$ already fits the requirements of GAAP, One can argue that they can stop the trading any time they want. Not really. If they ceased allowing export of L$ to RL currencies, they would lose the majority of their paying land-owners. The vast majority of those are fully dependent on converting L$ to USD to pay for their tier fees. LL can play semantics to try to keep the regulatory and tax wolves at bay, but it will, ultimately, be a losing battle. Why else would such a big deal have been made about gambling or banking? If L$ has no value, in-world gaming is not gambling, but playing with worthless virtual chips.
  2. If, as Linden Labs states in terms of service L$ have no real world value... WHY do they charge a commission of L$ sales in XStreetSL??
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