Tilia takes over
By Garnet Psaltery, July 1, 2019 in General Discussion Forum
Crim Mip 89
You only need to provide information needed for RL currency transfer if you plan to transfer RL currency out of LL. It's not LL's choice, it's US law. If you just buy L$ or sell them and leave the credit in your LL account to pay tier and membership fees, you're good to go.
Bree Giffen 1,733
Maybe this is what happened...
https://www.fincen.gov/news/news-releases/new-fincen-guidance-affirms-its-longstanding-regulatory-framework-virtual
Adam Spark 363
Love Everybody
12 minutes ago, lurarose said:
Yes I am aware of this. It seems to be just a 2nd middle man though. Which to me seems unnecessary. Why is Tilia even a thing? Why is Second Life or Linden Labs not capable of handling this as it has in the past 16 years? People are confused and unhappy about this.
No middle man. Linden Lab is doing this. They have just created a subsidiary company. Just the way they are handling it and has now bearing on how it works for us.
People are confused and unhappy about this.
Some people are often easily confused. Even if LL had properly spelled it all out, it wouldn't have made a difference to some folks in that regard.
Every time LL does something, folks get unhappy also. Truthfully, other than having to agree to yet another TOS, I don't see why anyone that never cashes out money is unhappy. Literally nothing about their SL will change in any way. As to the ones that cash out money, most of them have already had to give this info to LL in the past.
It seems to be just a 2nd middle man though. Which to me seems unnecessary. Why is Tilia even a thing? Why is Second Life or Linden Labs not capable of handling this as it has in the past 16 years?
Because of the link that Bree posted. The writing has been on the wall with that for some time now.
Talligurl 29,392
Bee a Butterfly
On 7/1/2019 at 4:14 PM, Scylla Rhiadra said:
"Inactivity Fee"???
only charged if you have funds in the account and there is no activity for a year.
Mollymews 2,372
now that there is an official Q&A thread then I open up on what I think about Tilia in another context
I think Tilia is a really good thing for LL to do
it opens up other future possibilities for LL the company as well. Like Tilia has potential to become a major player in the virtual currency micro-transactions global economy. an example of potential: Enabling us to trade L$/ S$ for Libra$ one day maybe, should Libra$ eventuate
altogether I think Tilia will be good because as what is financially good for LL, is good for SL and for us as residents. LL potentially will be able to diversify its revenue streams in other ways beyond SL, while staying within its area of expertise, and not be overly-reliant on SL tiers and merchant fees. Diversifying/finding new revenue streams is something which Ebbe Linden is very keen on
I think that when compared to all the things that LL have done in the past to try to earn other money, this is the best
Chic Aeon 11,732
Windlight(R) Queen
32 minutes ago, Bree Giffen said:
That's probably what I was referring to a couple of posts up in this thread. Thanks. I don't think LL is doing this on a whim by any means. They just (typically) didn't introduce it well -- and then there is the horrible TOS for Tilia :D.
As to the ones that cash out money, most of them have already had to give this info to LL in the past.
But again we did that under a very DIFFERENT TOS than the one that is coming up to sign. So really not the same thing IMO>
elviratg 15
1 hour ago, Crim Mip said:
Basically this, If you live on the right side of the pond and you've ever bought premium membership or linden dollars you're already signed up to tilla, via it's London office which operates under FSA rules and EU data protection laws.
Random Person 15
@Linden Lab Add optional 2-step verification support for resident accounts
14 hours ago, Zaara Kohime said:
Please bring back wire transfer direct to our bank accounts, which at least cuts down on FX charges we have to face on Paypal or in case of Skrill, a dual FX conversion.
When did they have this? I know PayPal does it.
11 hours ago, MordsithJenn said:
I will close my shop immediately.
Can I have your stuff?
Hexapoda 7
To read a TOS is like reading the Bible, you know what each word means but no one is sure how to read them, folk often look to priest and preachers to get a understanding of this strange text, so is there any TOS priest out there that can translate this and say what we need to do and how many sheep we need to sacrifice to be safe?
16 minutes ago, Hexapoda said:
Who said anything about sheep? https://bible.knowing-jesus.com/topics/Child-Sacrifice - So get started.
Luna Bliss 2,945
With the new Tilia TOS, all our RL assets (including house and car) become the property of Tilia when we die instead of transferring to our heirs. We are allowed to keep one burial plot however.
5 minutes ago, Alyona Su said:
Sheep taste good. Children, not as much.
In the great U.S.A. the poorest of the poor receive Medicaid for health care. For any money Medicaid pays in your behalf after age 50, a lien is placed on your estate to recoup costs, and so no money transfers to heirs, insuring a cycle of poverty among the poor. You are allowed, however, to keep one burial plot.
Dima Plessis 28
I'd just like to point out that although some of the questions I asked on the official Q & A thread were answered, every single question related to a possible near future increase in fees, charges, decrease in $L value or further restrictions on cashing out were not answered. They may say the fees and such will stay the same at the time of the switch, but the unsaid caveat seems to be "for now".
14 minutes ago, Dima Plessis said:
Yes, they've already said fees will be increasing in the future -- not sure if they will attribute that to the hungry Tilia or a "re-balancing" of the ways in which they derive income (land vs other sources).
Blush Bravin 5,779
Where's my coffee?
20 minutes ago, Luna Bliss said:
Ebbe said they are still in the process of rebalancing fees. So some fees may come down and others may go up as a result.
40 minutes ago, Blush Bravin said:
1 hour ago, Luna Bliss said:
Ebbe said they are still in the process of rebalancing fees. So some fees may come down and others may go up as a result.
It had to be very expensive to set up Tilia , especially with all the attorney fees. Surely they will pass on some of that cost to us. So I don't see it in simple "rebalancing" terms.
Not complaining about Tilia or saying it was unnecessary, or that our fees should not go up because of it -- just saying there is most likely more to fee increases than "land prices go down, cashout fees go up".
Edited July 3, 2019 by Luna Bliss
2 minutes ago, Luna Bliss said:
Apparently Tilia was set up quite a few years ago and has been handling our buying and selling of L$ for quite some time.
I would think they'd have passed those costs on a while ago. Or maybe that is part of the reason for many of the buy/sell L$ fee increases over the past few years.
Just now, LittleMe Jewell said:
Could be, for some of it.
However I bet it will take a lot of woman-hours to verify all those identities (the many peeps who cash out just a bit each month).
It's been in existence for a long time. Inara reported on it back in November of 2015. You can read about it here: https://modemworld.me/2019/07/02/tilia-a-further-look-and-a-little-more-speculation/