Cyberspace is provoking a dramatic shift in our cultural understanding of reality. A transition is taking place, from a reality marked by loss and limit to one experienced through infinite access. This paper begins to map Reality 2.0 with the conviction that we need to revisit traditional psychoanalytic concepts such as loss and fantasy within the framework of this new reality so that we may appreciate how online experience does and doesn't facilitate the formation of subjectivity and multiplicity. In Reality 2.0, access trumps the need to accept limits as a tool to self-discovery, and networking replaces containment as the bulwark of meaning. How then might we appreciate ways that online life turns what many see as a kind of psychic retreat into a generative space for psychoanalytic dialogue?