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

[M.E. Verhagen]

I do not think paypal, omc, podex or others are the virtual currency
providers of the grids. The grids sure have do their taxes in the country
the reside in.
There is no such requirement thing for the grids to report transactions
over a certain amount. (The banks in the eu have got some rules about
reporting large transactions and so, but there does not exists such a
requirement for the companies living here.)

2014-12-19 3:27 GMT+01:00 John Sheridan <john at pseudospace.net>:
>
>  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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