For those who monitor GOM, you will see that the L$ traded as low as $3.50 / 1000 today. Additionally, support as far as outstanding buy offers is extremely light ... there are only L$218,000 buy offers above $3.00 USD / 1000.
Below that, its a free fall to $1.00 USD / 1000 - - only L$75,000 stands btw $3.00 USD / 1000 and that level.
Of course, new buyers could emerge before the $1.00 USD level, but it is amazing how support for the L$ has virtually vanished.
Amazing! Is the L$ collapse imminent?
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Imminent Collapse of L$ Possible |
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:22
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Trimda Hedges
Creator of Useless Prims
Join date: 19 Nov 2003
Posts: 247
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11-11-2004 12:24
Burn baby burn!
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C. Create useless prims... Then delete... Rinse... Repeat.
"The problem is us, and the solution is within us all." -- Merwan Marker "Trimda - do us both a favor and please put me on ignore." -- blaze Spinnaker |
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Wiggle Biggles
Second Life Resident
Join date: 18 Oct 2004
Posts: 645
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11-11-2004 12:28
HAha, if I didnt have to use Paypal, I would have already bought some, but it takes three days to transfer the funds.
I will be looking into buying some of these cheap L though, it's just to good to pass up. |
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Cubey Terra
Aircraft Builder
Join date: 6 Sep 2003
Posts: 1,725
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11-11-2004 12:30
Jacqueline, would you and your alts please stop trying to mess with the market by spreading unfounded rumour and trying to fabricate panic (for whatever reason). It's not collapsing. The market fluctuates. It goes up, it comes down. It's cheap now, so it's a good time to buy... because chances are it will go up again later and you'll make a lot of money.
It's NOT the end of the Linden for crying out loud. _____________________
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Trimda Hedges
Creator of Useless Prims
Join date: 19 Nov 2003
Posts: 247
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11-11-2004 12:31
But it is, didn't you see the black spots post? OMG
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C. Create useless prims... Then delete... Rinse... Repeat.
"The problem is us, and the solution is within us all." -- Merwan Marker "Trimda - do us both a favor and please put me on ignore." -- blaze Spinnaker |
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Ferran Brodsky
Better living through rum
Join date: 3 Feb 2004
Posts: 821
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11-11-2004 12:32
If we all nurture the L$ with a little love, caring, lube and porn it will certainly get back up
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:32
Jacqueline, would you and your alts please stop trying to mess with the market by spreading unfounded rumour and trying to fabricate panic (for whatever reason). It's not collapsing. The market fluctuates. It goes up, it comes down. It's cheap now, so it's a good time to buy... because chances are it will go up again later and you'll make a lot of money. It's NOT the end of the Linden for crying out loud. Unfounded rumor? Go recompute the GOM buy bids if you don't believe me... you'll see the L$ could be posed for an imminent collapse... And if you don't consider a fall from USD $5.60 to USD $3.50 a "collapse", I don't know what is... |
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Cubey Terra
Aircraft Builder
Join date: 6 Sep 2003
Posts: 1,725
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11-11-2004 12:35
Unfounded rumor? Go recompute the GOM buy bids if you don't believe me... you'll see the L$ could be posed for an imminent collapse... Buy bids don't represent the current value of the market -- they are bids. Nothing more. Even if they *did* represent the current value, there's no logical reason to connect a current low value with an "imminent collapse". You either have an over-active imagination, or you stand to profit from panic selling. _____________________
C U B E Y · T E R R A
planes · helicopters · blimps · balloons · skydiving · submarines Available at Abbotts Aerodrome and XstreetSL.com |
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Trimda Hedges
Creator of Useless Prims
Join date: 19 Nov 2003
Posts: 247
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11-11-2004 12:36
"New Orleans is sinkin' and I don't wanna swim"
 or even better yet "What goes up Must come down Spinning wheel Got to go around Talkin' 'bout your troubles It's a cryin' sin Ride a painted pony Let the spinning wheel spin You got no money You got no home Spinning wheel All alone Talkin' 'bout your troubles and you You never learn Ride a painted pony Let the spinning wheel turn " _____________________
C. Create useless prims... Then delete... Rinse... Repeat.
"The problem is us, and the solution is within us all." -- Merwan Marker "Trimda - do us both a favor and please put me on ignore." -- blaze Spinnaker |
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:37
Buy bids don't represent the current value of the market -- they are bids. Nothing more. Even if they *did* represent the current value, there's no logical reason to connect a current low value with an "imminent collapse". You either have an over-active imagination, or you stand to profit from panic selling. Oh Cubey, you're in denial... but you rode the Nasdaq from 6,000 down to 1,400 didn't ya?  |
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Cubey Terra
Aircraft Builder
Join date: 6 Sep 2003
Posts: 1,725
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11-11-2004 12:38
And if you don't consider a fall from USD $5.60 to USD $3.50 a "collapse", I don't know what is... Your taking an extreme high, anomalous price and comparing it with the current lower price. The 5.60 price was a temporary spike where the Linden was drastically *overvalued*. To compare those two is completely misrepresenting the facts. _____________________
C U B E Y · T E R R A
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Cross Lament
Loose-brained Vixen
Join date: 20 Mar 2004
Posts: 1,115
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11-11-2004 12:39
Who cares? It's play money, for gods' sakes.
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- Making everyone's day just a little more surreal -
Teeple Linden: "OK, where did the tentacled thing go while I was playing with my face?" |
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:40
Who cares? It's play money, for gods' sakes. Agreed, but its fun. Just don't be on the wrong side of the tracks, my foxy friend.  |
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Jack Digeridoo
machinimaniac
Join date: 29 Jul 2003
Posts: 1,170
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11-11-2004 12:40
Hey isn't the USD slumping? Shouldn't that make the LD go up?? I know the CAD is enjoying the attention.
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If you'll excuse me, it's, it's time to make the world safe for democracy.
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:41
Hey isn't the USD slumping? Shouldn't that make the LD go up?? I know the CAD is enjoying the attention. You're right!! I bet a lucrative arbitrage play between the Euro / Dollar / Linden exists. Oh, build a better mousetrap and the world will beat a path to your door.... but the cats will hate you. |
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Jennyfur Peregrine
Whatever
Join date: 24 Dec 2003
Posts: 1,151
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keep on beating that dead horse
11-11-2004 12:42
the topic of the decline in value of the linden dollar is like beating a dead horse.
its tired, boring and pointless. instead of hysteria.... why is there no focus on getting the dollar back up to where it once was? -Jennyfur |
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Jauani Wu
pancake rabbit
Join date: 7 Apr 2003
Posts: 3,835
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11-11-2004 12:42
if you read the GOM forum, you'll find the Linden$ Barons discussing how the L$ market works.
somethings mentioned there is that most buying happens on the seller side. the buyer side is mostly the speculators who, when their orders are filled, place orders immediately on the sell side. to me this suggests there is someone, or a group of people, slowly liquidating a large amount of L$ and that all the top sell orders that appear are from the speculators whose orders are filled. and the new york times articles says to me => hoard your lindens! hoard your land! _____________________
http://wu-had.blogspot.com/
read my blog Mecha Jauani Wu hero of justice __________________________________________________ "Oh Jauani, you're terrible." - khamon fate |
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Cubey Terra
Aircraft Builder
Join date: 6 Sep 2003
Posts: 1,725
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11-11-2004 12:42
Oh Cubey, you're in denial... but you rode the Nasdaq from 6,000 down to 1,400 didn't ya? You know as well as I do that the Nasdaq is not comparible to GOM. The Linden market is small and new, and is subject to the effects of silly rumour-mongering. When Nasdaq drops, it's something to take seriously. When GOM drops, it usually means that either a single wealthy player is selling 100k or someone is fabricating rumours to create panic selling. You wouldn't happen to be trying to buy Lindens, would you, Jacqueline? Because driving the price down would really help you do that. _____________________
C U B E Y · T E R R A
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Jacqueline Richelieu
SL Resident Economist
Join date: 28 Jul 2004
Posts: 260
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11-11-2004 12:46
You wouldn't happen to be trying to buy Lindens, would you, Jacqueline? Because driving the price down would really help you do that. Who me? Nah. I don't engage in rutheless business practices. I say, if you can't make a dollar (or L$) honestly, then there's no sense in making it at all... |
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Anshe Chung
Business Girl
Join date: 22 Mar 2004
Posts: 1,615
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11-11-2004 12:48
I honestly don't understand why people believe if one currency once was higher than now it must automatically reach that level again if we just wait long enough.
With that logic I should sell all my EUR now and buy US$. Because 2 year ago US$ was at 1.20 EUR and now it is at 0.70 EUR. So I should make much money, just need wait until US$ is high again. Mmmm, easy isn't it? *wonders why all the smart and rich people don't run to buy US$ now* _____________________
ANSHECHUNG.COM: Buy land - Sell land - Rent land - Sell sim - Rent store - Earn L$ - Buy L$ - Sell L$
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Xtopherxaos Ixtab
D- in English
Join date: 7 Oct 2004
Posts: 884
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11-11-2004 12:51
Wait...theres a problem with the value of the L$? When did this happen?
...jk _____________________
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Jauani Wu
pancake rabbit
Join date: 7 Apr 2003
Posts: 3,835
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11-11-2004 13:01
*wonders why all the smart and rich people don't run to buy US$ now* smart rich people think the US$ still hasn't found its bottom. _____________________
http://wu-had.blogspot.com/
read my blog Mecha Jauani Wu hero of justice __________________________________________________ "Oh Jauani, you're terrible." - khamon fate |
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Ferran Brodsky
Better living through rum
Join date: 3 Feb 2004
Posts: 821
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11-11-2004 13:04
1 L$ = 1 L$
there is no problem with the value of the L$ You are all crazy |
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blaze Spinnaker
1/2 Serious
Join date: 12 Aug 2004
Posts: 5,898
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11-11-2004 13:06
Massive currency devaluation is a well recognized barometer of an economy in crisis.
30-50% devaluation is significant. The reason this is a problem is because LindenLabs keeps their processes opaque so we have no idea why this might be happening. _____________________
Taken from The last paragraph on pg. 16 of Cory Ondrejka's paper "Changing Realities: User Creation, Communication, and Innovation in Digital Worlds :
"User-created content takes the idea of leveraging player opinions a step further by allowing them to effectively prototype new ideas and features. Developers can then measure which new concepts most improve the products and incorporate them into the game in future patches." |
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Eggy Lippmann
Wiktator
Join date: 1 May 2003
Posts: 7,939
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11-11-2004 13:06
I was there when the L$ was only worth $0.60 per block of 250. I thought it was a great value for my play money. The equivalent in blocks of $1000 would be $2.40 so I guess the L$ is still pretty darn high.
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