MizzKittenzz Posted March 15, 2014 Share Posted March 15, 2014 Sorry if I'm in the wrong section, anyway I read you can exchange your bitcoins to lindens, is this true??? I was curious as my husband mines bitcoins...What I really want to know is, is it acceptably ok to get lindens with your bitcoins, as I know both are virtual currencies that many people seek after.I was just curious because I thought if its acceptable I could trade some BCs for Lindens.Also if so can someone tell me around about the exchange rate, like how many BC it takes to make so many lindens...Thanks. :) Link to comment Share on other sites More sharing options...
Theresa Tennyson Posted March 15, 2014 Share Posted March 15, 2014 MizzKittenzz wrote: Sorry if I'm in the wrong section, anyway I read you can exchange your bitcoins to lindens, is this true??? I was curious as my husband mines bitcoins... What I really want to know is, is it acceptably ok to get lindens with your bitcoins, as I know both are virtual currencies that many people seek after. I was just curious because I thought if its acceptable I could trade some BCs for Lindens. Also if so can someone tell me around about the exchange rate, like how many BC it takes to make so many lindens... Thanks. One of the biggest sites for exchanges like this is www.virwox.com. You can buy Lindens with Bitcoins on sites like this (look for the "Authorized Linden Dollar Reseller" identification), but you can't sell Lindens anywhere but the official Lindex exchange. Link to comment Share on other sites More sharing options...
MizzKittenzz Posted March 15, 2014 Author Share Posted March 15, 2014 So if I bought these lindens through virwox with my bitcoins could I take my lindens and sell them through lindex? Thanks so much for the reply. I'm really hoping to buy lindens not just to sell but I wanna be a contributor for people and buy clothes and houses in game. Ty Link to comment Share on other sites More sharing options...
Theresa Tennyson Posted March 16, 2014 Share Posted March 16, 2014 MizzKittenzz wrote: So if I bought these lindens through virwox with my bitcoins could I take my lindens and sell them through lindex? Thanks so much for the reply. I'm really hoping to buy lindens not just to sell but I wanna be a contributor for people and buy clothes and houses in game. Ty You're not going to be able to sell Lindens on the Lindex until you've bought some directly from LL and they have a payment record and history for you. Linden Lab does NOT want to be in the currency conversion business so they deliberately make it somewhat inconvenient to take real-world currency out of Second Life. Lindens from Virwox will be perfectly usable to buy things and give to others though. Link to comment Share on other sites More sharing options...
Perrie Juran Posted March 16, 2014 Share Posted March 16, 2014 Theresa Tennyson wrote: MizzKittenzz wrote: So if I bought these lindens through virwox with my bitcoins could I take my lindens and sell them through lindex? Thanks so much for the reply. I'm really hoping to buy lindens not just to sell but I wanna be a contributor for people and buy clothes and houses in game. Ty You're not going to be able to sell Lindens on the Lindex until you've bought some directly from LL and they have a payment record and history for you. Do you have documentation for this? Just curious. It wouldn't surprise me but can't find documentation. Link to comment Share on other sites More sharing options...
Theresa Tennyson Posted March 16, 2014 Share Posted March 16, 2014 Perrie Juran wrote: Theresa Tennyson wrote: MizzKittenzz wrote: So if I bought these lindens through virwox with my bitcoins could I take my lindens and sell them through lindex? Thanks so much for the reply. I'm really hoping to buy lindens not just to sell but I wanna be a contributor for people and buy clothes and houses in game. Ty You're not going to be able to sell Lindens on the Lindex until you've bought some directly from LL and they have a payment record and history for you. Do you have documentation for this? Just curious. It wouldn't surprise me but can't find documentation. https://secondlife.com/my/lindex/describe-limits.php? Note that these start from your first transaction with them, and you can't sell Lindens at the first two levels. I'm guessing this means you have to buy, but it may be possible to put your payment info in without buying anything. Link to comment Share on other sites More sharing options...
Perrie Juran Posted March 16, 2014 Share Posted March 16, 2014 Theresa Tennyson wrote: Perrie Juran wrote: Theresa Tennyson wrote: MizzKittenzz wrote: So if I bought these lindens through virwox with my bitcoins could I take my lindens and sell them through lindex? Thanks so much for the reply. I'm really hoping to buy lindens not just to sell but I wanna be a contributor for people and buy clothes and houses in game. Ty You're not going to be able to sell Lindens on the Lindex until you've bought some directly from LL and they have a payment record and history for you. Do you have documentation for this? Just curious. It wouldn't surprise me but can't find documentation. https://secondlife.com/my/lindex/describe-limits.php? Note that these start from your first transaction with them, and you can't sell Lindens at the first two levels. I'm guessing this means you have to buy, but it may be possible to put your payment info in without buying anything. Thanks. That makes sense. Link to comment Share on other sites More sharing options...
Drew Bhalti Posted March 16, 2014 Share Posted March 16, 2014 Lindens are not in the business of money laundering, we've had some "people" come here looking to just sell their coins at one point in time for lindens and then covert them into real money. LL changed somethings, as I still think something was happening in the pipeline and some goverment agency was looking at LL because of it. Link to comment Share on other sites More sharing options...
MizzKittenzz Posted March 17, 2014 Author Share Posted March 17, 2014 I definitely didn't join to launder money, but maybe I'm biased but I don't see how selling btc for lindens, and then converting them to usd is laundering... I haven't done so or even tried yet, but you'd think they wouldn't mind if you only do a little bit because it still drives traffic to here and to the game. To me Bitcoins doesn't match the true definition of "money laundering", it's a real currency just the same as lindens is a real currency, and both are earned... Link to comment Share on other sites More sharing options...
Butch Daddy Posted March 17, 2014 Share Posted March 17, 2014 MizzKittenzz wrote: I definitely didn't join to launder money, but maybe I'm biased but I don't see how selling btc for lindens, and then converting them to usd is laundering... I haven't done so or even tried yet, but you'd think they wouldn't mind if you only do a little bit because it still drives traffic to here and to the game. To me Bitcoins doesn't match the true definition of "money laundering", it's a real currency just the same as lindens is a real currency, and both are earned... While "money laundering" was originaly coined as a term to describe the process by which illegally gotten funds were hidden in such a way as to appear to have been legally gained, the term has come more to mean the converting of funds in such a way as to hide where they originated from, wether legally gotten or not. Since there are plenty of exchanges that will convert Bitcoin to USD, using Second Life to convert Bitcoin to Lindens then Lindens to USD can be considered mondey laundering. Linden Dollars are not a legal/real currency. There are an ingame token used for the buying and selling of virtual content. You can buy these tokens with US Dollars, and can also sell those tokens to others for US Dollars, but in and of themselves they are completely worthless outside of Second Life. Link to comment Share on other sites More sharing options...
Storm Clarence Posted March 17, 2014 Share Posted March 17, 2014 MizzKittenzz wrote: I definitely didn't join to launder money, but maybe I'm biased but I don't see how selling btc for lindens, and then converting them to usd is laundering... I haven't done so or even tried yet, but you'd think they wouldn't mind if you only do a little bit because it still drives traffic to here and to the game. To me Bitcoins doesn't match the true definition of "money laundering", it's a real currency just the same as lindens is a real currency, and both are earned... Go to your nearest Community College and take a few courses in economics. Start with eco101, you need it. Absolutely clueless! Link to comment Share on other sites More sharing options...
Wooja Posted March 17, 2014 Share Posted March 17, 2014 Storm Clarence wrote: MizzKittenzz wrote: I definitely didn't join to launder money, but maybe I'm biased but I don't see how selling btc for lindens, and then converting them to usd is laundering... I haven't done so or even tried yet, but you'd think they wouldn't mind if you only do a little bit because it still drives traffic to here and to the game. To me Bitcoins doesn't match the true definition of "money laundering", it's a real currency just the same as lindens is a real currency, and both are earned... Go to your nearest Community College and take a few courses in economics. Start with eco101, you need it. Absolutely clueless! A couple of courses in Law might not go amiss, either. Wooja...rememberthathewhorepresentshimselfhasafoolforaclient Link to comment Share on other sites More sharing options...
MizzKittenzz Posted March 17, 2014 Author Share Posted March 17, 2014 To Wooja and the other dude; you don't have to "flame" me or reply rudely... The law don't apply to the web in this area. There is nothing unethical about getting and trading currency you've earned, ever heard of forex? Thanks to the other replies that were sincere, also may I add this though that btc is also worthless in and of themselves its simply a token representing a mathmatical problem solved by a computer. Link to comment Share on other sites More sharing options...
Wooja Posted March 17, 2014 Share Posted March 17, 2014 MizzKittenzz wrote: The law don't apply to the web in this area. How wrong can you be! Well, that wrong. Wooja...keeppostingandhumiliateyourselfevenmore Link to comment Share on other sites More sharing options...
MizzKittenzz Posted March 17, 2014 Author Share Posted March 17, 2014 You need English 101 Wooja... I'm not humiliating myself by having a discussion, you're the only problem here.. Please don't reply back in my thread, unless you want to have a discussion like an adult and not childish name calling. Everyone else replied nicely with their opinions and how they feel. You? not so much. Link to comment Share on other sites More sharing options...
Wooja Posted March 17, 2014 Share Posted March 17, 2014 MizzKittenzz wrote: You need English 101 Wooja... I'm not humiliating myself by having a discussion, you're the only problem here.. Your ignorance is demonstrably profound - and your own English appalling, from review of your postings in these forums. Wooja...laughatsomeonesuggestingineedenglishclasses Link to comment Share on other sites More sharing options...
Wooja Posted March 17, 2014 Share Posted March 17, 2014 MizzKittenzz added this: Please don't reply back in my thread, unless you want to have a discussion like an adult and not childish name calling. Everyone else replied nicely with their opinions and how they feel. You? not so much. So who died and put you in charge here, after so little time, much of it spent whinging, explaining about your depressing personal circumstances, and demonstrating a capacity for ignorance that is unusual even in these forums. Wooja...wouldbuyyourbrainifyouweresellingitasitobviouslyhasneverbeenused Link to comment Share on other sites More sharing options...
MizzKittenzz Posted March 17, 2014 Author Share Posted March 17, 2014 Lol lackofspacesbecauseimscaredillgetintroubleforflamingg** sarcasm Link to comment Share on other sites More sharing options...
Butch Daddy Posted March 18, 2014 Share Posted March 18, 2014 MizzKittenzz wrote: To Wooja and the other dude; you don't have to "flame" me or reply rudely... The law don't apply to the web in this area. There is nothing unethical about getting and trading currency you've earned, ever heard of forex? Thanks to the other replies that were sincere, also may I add this though that btc is also worthless in and of themselves its simply a token representing a mathmatical problem solved by a computer. Bitcoins have value because brick and mortar companies will accept them as currency for trade for product. Just like any hard currency, like printed money or stamped coins. This makes Bitcoin a "real" currency. Since no company places value on the Second Like Tokens (Linden Dollars) they are not a "real" currency. Just as the "gold" you use to buy and sell items inside World of Warcraft is not "real" gold and has no value outside of the World of Warcraft universe. And the law does still apply to everything covered in Second Life. If it didn't, then users wouldn't have to include the income they make through SL on their yearly taxes and LL wouldn't be asking for tax forms that need to be filed. And DMCA would't apply. If you withdraw enough USD from Second Life you WILL have to report the funds on your taxes. http://community.secondlife.com/t5/Commerce/Required-Tax-Documentation/ba-p/2336109 So yes, the law does apply. While there is nothing unethical about trading currency, Linden Dollars are not a real currency. They are an in world token. If you wish to engage in Currency Trading, your best bet is to stick to real currency exchanges, like Forex. Although even those are subject to legal action. http://www.forbes.com/sites/jonmatonis/2013/05/28/u-s-authorities-close-another-digital-currency-exchange/ http://www.nbcnews.com/id/3540930/ns/business-corporate_scandals/t/dozens-forex-traders-arrested/ Link to comment Share on other sites More sharing options...
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