Ex-Linden money chief creates new metaverse currency (Gloebits)


Sounds intressting to let everybody know, mabey it’s usefull.




I sdunno those ex linden types are so shady :stuck_out_tongue:


And why would anyone even bother making such a thing for an ancient old technology like OS / SL that’s so hacky and antiquated and obviously due to be replaced?


It’s not only useable for old technolegy. High Fidelity still fit under the number metaverse. (no it’s not a browser)


It just seems to me that from the ground up the structural design of HiFi achieves what OpenSim has been struggling to accomplish for years now with HyperGrid by forcing what was meant to be a closed grid system into operating as an open metaverse. Personally, that alone makes me want to dive head first into HiFi while leaving OpenSim and SL behind. :slight_smile:


Opensim is old yes. and keeps a struggle.
But with high fidelity you losing hope to as long the are complete blinded by HMD. And that is really a shame.


Occulus, motion control, and all that are just peripherals. HiFi still supports the good ole keyboard / monitor / mouse and honestly I can’t imagine any system operating without support for those so I feel safe. :slightly_smiling: The vibe I’m getting is that they’re just making a push toward supporting the HMD stuff to coincide with whatever’s going on with the release of that occulus thing.


Poorly lately. This has to be addressed post March/April death march.


Well, I wonder how easy it might be, when the time comes, to tie Gloebits currency into the HiFi system. Probably not that hard to do that, I’ll bet.


Hi HiFi!

Personally I think it would be a shame to see a centralized service used when decentralized, opensource options are available and within everyone’s reach.

There’s an initiative getting started to bring the NXT crypto-currency platform to Opensim:


NXT is an amazing digital currency with a wonderful opensource community behind it. I think a decentralized currency like NXT would make a much better fit for the future of the metaverse, both for Opensim or HiFi.


Here’s another article on Gloebits, comparing it against several other virtual currencies.



I don’t know of any decentralized, opensource currency options for virtual worlds that are available and within everyone’s reach. Bitcoin is significantly problematic for use in-world due to volatility and the exchange rate, and the time it takes for transactions to go through. The only grid that’s managed to use it is YrGrid, and they did quite a bit of work and built an escrow service as a kind of work-around. But this isn’t available to other grids. OMC and PayPal, the other two options, are both very much centralized.

Meanwhile, centralized systems do provide some advantages. There’s someone around to provide updates and support, to handle compliance issues, and to invest in marketing.


This is yet another worthless cryptocurrency. Anybody can make their own in 5 minutes or less. The one worth taking a look at is Ethereum. It has actual value in the fact that it is not only a cryptocurrency it is also turing complete executable code that you can use to make smart contracts for any sort of tokenized transaction (e.g. voting, currency creation, coupons, etc).

The only thing that gives any cryptocurrency value are the services behind it. From what I see on the Gloebit site all they are offering is the same as any other cryptocurrency, like Gamecoin which was around a long time before Gloebits (and is garbage as well) except it looks 100% pre-mined (meaning it is centralized) which is BAD and counter-productive to what cryptocurrencies are designed to do. This is no different than what SL already has except they want to use it between metaverses which can be done with any of the hundreds of existing cryptocoins out there. I don’t see anything special and this looks like a scam to me whether they know it or not. Only a scammer or a noob would do what they are doing. You don’t even need blockchain to do what they are doing so we can’t even be sure it is a cryptocurrency (although it probably is). If it is a CC then they aren’t using it right.

Given the 100% premine and lack of transparency (no public blockchain) they are more akin to chinese gold farmer sites who sell MMORPG gold than a cryptocurrency service.

This might have worked 10 years ago (and could have easily been accomplished 10 years ago) but with all the options we have now… AVOID LIKE THE PLAGUE.


Also, I suspect this is the guy who rigged the value of the SL Linden by creating a giant sell order and buy order out of thin air. Not the kind of person I want handling my currency or credit card numbers.


I don’t understand why actual money is taboo?


If you use actual money (fiat currency) then every transaction between parties inside a virtual world is a revenue creation event, hence taxed. It means every single teensy transaction needs to be tracked, merchants would have to report each one, pay sales tax to states in the U.S. pay VAT in EU nations, etc. That’s a huge mess. This is why you see hybrid currency: it stays purely virtual (zero value events) inside a world and becomes an income event upon conversion to fiat currency; that is, when you withdraw the funds from the virtual world.


Quoted from their facebook page: "We are not a crypto-currency, nor do we use Blockchain technology. "

He probably had the idea 10 years ago but was bound by contractual obligations to Linden Labs and couldn’t. I don’t envy their task of having to deal with all the red tape associated with currency exchangers. That’s a huge effort to work with outdated dying technology.

Too bad they aren’t using cryptocurrency. I think people deserve transparency but given his history it is no wonder they want to keep everything secret and centralized. Good luck to him though.


Ethereum looks very interesting!


Haha. Ever since I posted about ethereum it has been in the news. Wish I had bought some back then because it is worth 17 times what I would have paid for it.

Also there was the big DAO controversy.


LOL DAO! My eth is still there I gave up trying to get it back lol but I did make some with the rise of eth