Virwox now supports bitcoin

[Vladimir]

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[1714897939]

1714897939

[pc]

I got my first bitcoins quite some time ago by converting my Second Life wealth (which I didn't really play anymore) into bitcoins, with some kind person whose name I don't remember who was doing so.

It does make me think that this may help the problem of people trying to get their money into the Bitcoin exchanges, at least for smaller amounts of money. It's easier to buy Second Life Lindens with "traditional" forms of payment, so it may be easier for people to do USD to SLL to BTC than, say, going via Liberty Reserve.

[Danube]

They charge 0.1 BTC for tranferring bitcoins from their wallet to yours.

[monkeykoder]

The transfer fees are a bit much but they do allow you to change between bitcoins and paypal which seems like it should be allowed by paypal as it's a game currency they seem to support that you're changing through.

[2_Thumbs_Up]

I'm not very familiar with Virwox and I won't bother with signing up. But does this mean that you can withdraw to paypal again?

[silversurfer]

I'm not very familiar with Virwox and I won't bother with signing up. But does this mean that you can withdraw to paypal again?

Yes.  VirWoX has cashout options as well as Second Life's own exchange (Lindex) that trades USD for SLL.  The Linden dollar market is larger and more liquid than the bitcoin market currently.  Yesterday, in the Marketplace forum, I made a post about buying/selling BTC with credit card or PayPal via Second Life and VirWoX.  For small orders, this may be one of the cheapest ways to go (despite some complication to SL novices).

http://bitcointalk.org/index.php?topic=7080.0

[kseistrup]

It's a pity 2L doesn't support Linux x86_64, so I cannot access the virtual VirWoX terminal…

[silversurfer]

I suppose the next step would be to find that game company which runs some mmorpg game and which got itself banking license in order to peg internal currency to major fiat currencies and handle customers deposits. I cannot recall the name of the game or company. It's rather strange that they are not all over bitcoin yet.

Entropia Universe?  I've never tried it, but remember when Anshe Chung (a big Second Life player) opened a currency exchange with Entropia.

I've watched the Linden dollar for almost five years, and it has been remarkably stable (this is due in part to Second Life creating currency to force peg the rate to the dollar).  The Linden dollar has not fluctuated more than 10% vs. the USD in this time.

[gigabytecoin]

Sooooo... they've made the news announcement over a week ago, but it still seems as though they are not accepting bitcoins as payment?

In their main "buy/sell" linden dollars box... there is no option to select bitcoins.

[fmk63]

It's a pity 2L doesn't support Linux x86_64, so I cannot access the virtual VirWoX terminal…

Actually yon don't need to deal with Second Life at all if you just want to use VirWoX to exchange BTC to/from some other currency. You can enter any name as the avatar name on registration, and never need to log in to Second Life.

For example, to sell your BTC and receive USD via PayPal, first sell the BTC for SLL, then sell the SLL for USD, then select "withdraw to PayPal".

[kseistrup]

It's a pity 2L doesn't support Linux x86_64, so I cannot access the virtual VirWoX terminal…

Actually yon don't need to deal with Second Life at all if you just want to use VirWoX to exchange BTC to/from some other currency. You can enter any name as the avatar name on registration, and never need to log in to Second Life.

Oh, really?  That's cool.  Thanks!! 

Cheers,

[BitLex]

Sooooo... they've made the news announcement over a week ago, but it still seems as though they are not accepting bitcoins as payment?

In their main "buy/sell" linden dollars box... there is no option to select bitcoins.

they are not accepting bitcoin as payment,  if you want to buy L$ from the "Currency Shop", that seems to be true,
but
they do allow funding of your trading account with bitcoins, so you can trade BTC/SLL with other users.
works ok so far,
only thing that bothers me is the 0.1BTC withdraw-fee, as if they don't make enough from trading-fees already.

besides that, there's also problems funding your trading account with L$ way too often (and this really sucks), caused by the shitty LindenLabs Risk-API,
if you want to move bigger amounts on a regular basis between SecondLife and VirWox, you better give them both all your banking-details, or you will end up with rejected payments from those VirWox terminals.

[kseistrup]

'Twould be cool is VirWoX allowed conversion between any two of the supported currencies…

[frog]

Isnt Viwox too expensive?

E.g. If i want to sell BTC cheapest in EUR:
Costs: BTC/SLL   25 SLL   1,00%
+EUR/SLL   50 SLL   2,50%

So I have to pay 75SLL + 3,5%

[BitLex]

'Twould be cool is VirWoX allowed conversion between any two of the supported currencies…

well, right now they treat bitcoins like real money and they don't allow conversion from USD to EUR/GBP/CHF either (and never will),
you can try to convince them that bitcoins aren't that real and actually more virtual tokens than L$,
not sure if you'd be successful though.

Isnt Viwox too expensive?
..
So I have to pay 75SLL + 3,5%

VirWox is not exactly cheap,
75SLL+3.5% is for Market Orders only, which are more expensive than trading at current bids/asks anyway,
for Limit Orders you pay 0.8 - 3.9% (*2) based on your amount of SLL commission paid in the previous 30 days.

[Stephen Gornick]

I got my first bitcoins quite some time ago by converting my Second Life wealth (which I didn't really play anymore) into bitcoins

There's been fairly decent trading volume for this.  The BTC/SLL market ranks about third place, roughly about even with the GBP/SLL, as far as trading volume.

The market seems synthetic though with bids and asks adjusting automatically to changes in the BTC/USD:
  http://www.virwox.com/market_depth.php?instr=11

Maybe VirWoX does trades to clear any limit orders that would tighten the spread?  Either way, it is great to see this option made available.

[Bit_Happy]

...Maybe someone can get them in touch with reality. Potentially they can be the first real bank with real banking license who officially recognise bitcoin as currency, do exchange, hold bitcoin deposits etc...
 

First, thank you for the info vladimir, this is amazing.
Second, !!! FYI: they are not a "real bank" yet.

a) The virtual Entropia Universe banks:
(They sold expensive "virtual" licenses to 5 members)
        * Avatar “Janus JD D'Arcwire”, representing Wirecard Bank AG, who paid US$59,060.[17][18]
        * Russian Internet Payment Provider MONETA.ru, with avatar “Yuri iNTellect” who paid US$99,900.[18]
        * Entropia celebrity “Jon NEVERDIE Jacobs”, who paid US$90,000.[14][16]
        * Second Life virtual celebrity and entrepreneur Anshe Chung, who paid US$60,000.[18]
        * Avatar "Jolana Kitty Brice", an Entropia Universe participant and entrepreneur who paid US$95,000.[15]

b) The parent company has serious issues:
They reported a cash flow of -18.6 Million SEK (-$2.4M). In the report it states that the real life bank they were planning to start is on hold due to a lack of funds.  (bold added by me)   ~Source


Question (for anyone)
Despite everything posted above, Entropia Universe still might have a (real-world) "license to handle the game money and traditional fiat deposits."
Can anyone provide a link which establishes this for certain?

Edit:
This strongly suggests (proves) they are "legal", for handling the game money and traditional fiat deposits:  
On May 2, 2006, MindArk announced the introduction of an ATM card enabling players to withdraw the real-world currency equivalent of their PED funds directly from any real-world Versatel ATMs. ~Same source as above

[mizerydearia]

Is there a forum user affiliated with virwox?

[BitLex]

not directly affiliated, but i use them quite often for about 2years now to trade from/to SLL/USD/EUR and of course BTC now.
need any help? 

[HeroCat]

Nice BTC expanding  Bitcoin going up everywhere in the world