Hugsies Blog!

October 23, 2006

I’m just not in the mood…

Filed under: Second Life Shit! — Hugsie @ 7:28 am

I haven’t been online for a while, but I’m still alive.  Not like many ppl read this but if they happen to notice the URL off my profile, then welcome!

I’m just burned out of SL.  I’m just not getting in the mood for it anymore.  Which sucks since I’m also not making any money which also mean no REAL money since I cash out my L$ once I’ve accumulated enough.

Which reminds me.. have you heard the government wants to tax Second Life?  Hell why not all the other online worlds?  Linden Labs claims there’s Millions of dollars being exchanged on LindeX, but it’s not “real” dollars, otherwise Linden Labs would be a very rich company.  It’s “possible” millions of dollars only *IF* you translated all those L$ into USD, which it isn’t.  While you do have a USD balance kept on your SL account, most people invest it BACK into Lindens, and vice versa.

Most people are paying USD into SL so they have a USD balance to purchase L$, that money goes directly to LL, but may come back out if someone wishes to sell out their Lindens for USD.

Yeah it’s all really complicated. Thing is if you sign up for a Google adsense account, they ask you too fill out a W-2 tax form, just as if it were a real job.  So sooner of later they might do the same thing with Second Life.  If that does happen, then users will just go back to private trades with PayPal.

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2 Comments »

  1. What happens when my (UK) government wants to tax my (currently non-existant) income? And then France, and Germany… what an administrative nightmare that would be for Linden Labs!

    I think the Linden Labs ‘Linden Dollars are not real money’ viewpoint is more a legal one than a realistic one. They don’t want to be liable for Linden Dollar losses if something happens.

    Currently (I think you’ll find you) should probably be telling the taxman when you withdraw funds from SL (as that is income). That would be under existing legislation. What concerns me more is when they start talking about taxing every transaction within SL and other virtual worlds.

    (all spelling mistakes are my own)

    Comment by Lectra Forte — October 24, 2006 @ 9:39 am

  2. They would only tax if you took your USD ballance on Second Life and sent to to your self, converted it to Euros (or franks?) and used it as income.

    Being in France, I would assume France would want you to claim that as income.. assuming France has income tax as we do in the states. But only if you make enough. I barely make $100 in 30 days in SL, and that’s WAY WAY below the poverty level.

    Comment by hugsalot — October 25, 2006 @ 7:46 am


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