[Opensim-users] Advantages of grid using OMC or Podex vs using Paypal + fictional currency?

[John Sheridan]

Correct me if I'm wrong, but aren't virtual currency providers required 
to register with the government now (ala BitCoin)? I know on the SL side 
of things they made some changes wherein those who cash out over a 
certain amount yearly need to register their tax information.  Maybe it 
would be worth running this past your lawyer or accountant?


On 12/18/2014 05:18 PM, Ethan Grammatikidis wrote:
> On Thu, Dec 18, 2014, at 02:07 PM, Erik Gordon Bainbridge wrote:
>> What are the advantages and disadvantages of using Paypal as a grid 
>> currency rather than OMC or Podex?  I'm interested in the 
>> perspectives both of people who sell in grids and of grid owners.  I 
>> am building a grid for a company that wants to use a Kitely model of 
>> fictional currency combined with Paypal instead of using OMC or 
>> Podex.  I think the complexity of setting up fictional currency + 
>> Paypal could outweigh the advantages.  I need both perspectives so I 
>> can give my client the best advice.
> What? OMC and Podex both offer "fictional currency" backed by real 
> money. Any grid with an exchangeable currency provides "fictional 
> currency" backed by real money in one way or another. Your choice is 
> whether to contract with a company (OMC or Podex) which specializes in 
> this, or to making your own system.
> Making your own system doesn't just mean writing code, you will also 
> have to choose what rules to apply. If I were doing this, I'd think 
> deciding on the rules would be harder work than writing the code.
>
>
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