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POPSMicro-Giving: A New Era in Fundraising "...we're entering a new era in fundraising and perhaps other social/political causes. What's new? Virtual tribes -- networks of caring people with more commitment than cash. And that's what excites us about micro-giving: It takes so little. You might not have much to spare, but you've got a penny jar -- and we all know that if you reach in and remove a handful of change, you'll feel no pain. What's great about the new, frictionless online giving we're testing here is that, if you've got a good cause, you no longer need to spend a fortune on real-world marketing. Online, with word of mouth and simple technology, pennies can become serious money..."
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POPSCell phones double as electronic wallets It costs a lot to run a mint, and print currency. Virtual banking, is like virtual retail, The net removes the need for a shop front, staff, and materials costs. The 'liquidity' of internet cash, means that real currency will be needed in reduced amounts, no doubt with aims of eliminating it's need entirely. The more online transactions there are the easier it will be to see where the mioney is with an instant status report.
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POPSFraud I had the opportunity to work as a virtual assistant for a banker in Second Life. He claimed he was honest and legitimate. As an inside observer of some of the activities, the exchanges looked fraudulent at best. When the residents of Second Life pressured the banker out, I think it spoke volumes about financial institutions, stock exchanges, etc giving even a hint of impropriety. As honest as this banker tried to be, the way he handled certain situations left SL residents with a sour taste in their mouths. For me, the bottom line is, banks and stock exchanges in Second Life stole money from residents. I did not invest any of my L$. The customers I worked with were very savvy. They asked a lot of hard questions before investing. I am a supporter of Linden Labs staying out of resident to resident interactions. I am a supporter of people trying new things in SL or using SL for educational purposes. To this date, the banks and exchanges in SL have taken advantage of residents.
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