Cashout of HFC->USD now available at the Bank


#1

Hi All! Today we will start accepting HFC at the Bank and giving you back dollars using Paypal, so that creators can start making money. Also you can buy more if you like. Exchange rate fixed at HFC100 = $1USD

Thoughts very welcome and much love for all the development that’s gone on in the ‘pre-economic’ era,

Philip


#2

I got a question after reading this.

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High Fidelity staff will take receipt of HFC from the trading user. Payments will be made using PayPal and paid to the email account connected to their High Fidelity account. Time to payment receipt will be based on PayPal rules and guidelines. Payments will be made from finance@highfidelity.com.

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What if soemone use a different account for high fidelity then for paypal ? If i read the above it would fail.

Not that i want to convert to RL, i like to use it in High Fidelity.
It helped my to buy 2 skybox themes i need for future.


#3

Will we be able to use hfc to buy placenames?
and is hfc legal tender in other members of the allience’s worlds?


#4

You can specify a PayPal address in the bank appointment booking form (linked in the blog post).


#5

You can’t use HFC to buy placenames right now, but yes we will work on that, agree we need it! We need to build a web mechanism for paying HFC, don’t have that yet.

Nope, HFC isn’t useable in any VRBA worlds yet, but hopefully will be soon as we get more of the blockchain turned on.


#6

Yaay!
It works.
I just got the Paypal confirmation email.


#7

And so it begins! We’ll streamline the process, but for now this gets things started.


#8

“And so it begins.”

We need a Kosh avatar. :smiley: :smiley:


#9

So, after seeing some issues with the cashout option due to having to set up appointments, here is a rough draft idea that may save everyone a headache:

Money can only be sent (as of now) under two conditions: you have someone nearby or you have them added to your connections. I haven’t tried setting up an appointment yet, but if it’s like how the the earlier bank stuff worked, I’ll just assume it’s more or less “How much would you like to withdraw? Okay, send the money over. The email you plan to use? Done!”

So, here’s a thought: what if you had some ‘ATM’ bots that were set up at the bank. They can be given an avatar that makes them look like an ATM, and are programmed to always sit at a specific spot (in fact, we can even use this as a situation where if nothing is there, the object underneath is a “Sorry, we’re experiencing technical difficulty. Try again later.”). The ATM avatar would have a bone (or set of) required to make a connection. The user then, if they haven’t already, make a connection with said ATM bot (can even use a case of ‘place hand here’ for VR users). Huzzah! We have now become friends with officialhifibankatm!

From here, if someone wants to withdraw say 10k HFC. They deposit (send) 10k HFC to officialhifibankatm and make note of the time of deposit, the value, and (if we ever get this information) the transaction hash/ID and then relay it to the High Fidelity bank (email or in person). Now, instead of setting up an appointment, you just need to view the transaction, validate it is correct, and walla!

No need to worry about setting up appointments (or missing them)! During bank hours, the teller can just view the emails, observe the transactions and relate them to the emails that come in. If there are any questions, you can still ask someone to stop by during the banking hours or via the appointments if extra security is needed (this can be especially useful for first time transactions to validate the public keys to the person).


#10

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