Currency Duplication?

Is it possible that someone has discovered a way to duplicate the currency and slowly sell it under the radar, basically siphoning all of the USD out of the market and into their pocket?

Hear me out.

Let's say you have 10-20 ALTs that you've developed without the knowledge of Linden Labs (not that hard, you can get 'gift certificate' credit cards that keep things private) and then logs onto SL via dynamic ip addresses.

And then lets say, each ALT is selling about 5K / day on the market, so you have a total selling pressure of 50-100K / per day.

Now, lets say that each alt is generating about 5K per day with a currency duplication bug.

Basically, everytime someone buys into the market they're just giving their money to whoever has discovered the duplication bug.

What guarantees can LindenLabs provide that currency is not being duplicated?

For that matter, what can LindenLabs due to inspire trust in this currency?

Huh? Umm, you gotta get off the acid dude. Its not good for your health...

Dun dun dun... the plot thickens.... hey, I did happen to see Cubey driving around a new Benz IRL... hmmm...

blaze who are you really? LOL

Trimda .. clearly you don't know much about dupe bugs.

Before criticizing, how about being familar with the topic?

Do a google search for "dupe bugs mmorpg"

http://www.google.com/search?sourceid=navclient&ie=UTF-8&q=dupe+bugs+mmorpg

Here's some easy reading:

Shadowbane World Closure Due To Counterfeiting?

http://games.slashdot.org/games/03/10/02/0448208.shtml?tid=127&tid=186&tid=206&tid=209

Ususally these cant go on long without an honest person finding the bug or to many dishonest people figuring it out and someone reclessly duping cash.

Refer to SWGs recent run in with people duping millions of credits.

That's very true.. However, I don't see why the currency is dropping so fast.

LindenLabs keeps claiming that they don't increase the money supply and that they're careful to keep everything in line with demand.

This is my only explanation ..

There are a couple of things that LL could be doing to ensure that this isn't happening. For example, can they double verify on an hourly or daily basis that the total money supply hasn't changed?

Here's a possible dupe bug:

Someone generates a lot of temp accounts and 'artifically' increases the total money supply and somehow siphons that money into their accounts.

Not sure how to do this, but this is an example of how this might be possible.

Or maybe there is some other way of increasing the total money supply that we don't know about.

First of all Blaze, you speak of dupe bugs in a theoretical sense and pulling it out of your ass. While the begining of your post had some sense to it, you then come and make reference to a possible magical dupe bug. No indications of what it may be, just some magical hot air. That type of statement causes unneeded dhrama in a forum base that has enought dhrama queens and trolls to go around.

Next of all, don't make assumptions of what I do or do not know. You are very much unaware of my skills or knowledge, and I likewise with you. To assume you know anything of me from a single post is a grave assumption. I recommend you refrain from calling me naive about a subject that I would most probably know more about than you expect I do.

It's an interesting theory....





























For me to poop on!!

My turn! POOOOOP!

OMG HE SAID INTERESTING!!!

That was a rhetorical post - both of you are banned from replying to my posts.

I would like to award Blaze for the coveted Schlegel thread of the day award.
AND...
Jack gets the coveted post of the day award.
Congrats you!

Sorry, Trimda .. I generally attribute naivety and ignorance to those who'd rather utilize ad hominen rather than actually address the facts / logical conclusions. The only thing I know about you is that you'd rather imply some kind of drug habit rather than say something useful. I guess that's what I know about the sort of person you are - are you happy with that?

And anyways, it's also called a hypothesis, btw. Based on two things: a rapidly dropping currency, and a so-called claim by LindenLabs that they are 'staying the course' and 'keeping things normal'.

If they are no increasing the money supply, then we only have the following conclusions:

1. Dramatic loss of faith in the currency (possible)
2. Dramatic loss of demand for the currency (I see this as unlikely)
3. Duplication bug

What other hypothesis are there?


And my point is that LindenLabs could be doing more to create more confidence in the currency rather than just staying silent. Or maybe their silence is indicative of their approach? Let the currency go into free fall and freak everyone out. Who knows?

Did you ever think,

1/ Profit taking, so people are generally just hiting the sell link and not forcing buyers to come up?
2/ The effect of needless panic being created by a million posters screaming the sky is falling? So therefore, effect 1 is multiplied?

A thread like this, hypothesizing about something that has no real proof of any sort does not help my second point. And finally, you are incorrect about the increasing money in cirrculation. Every week, L$ are given out, further watering down the L$.

Well that's the best apology everrr!

!!For me to poop on!!

Trimda, profit taking accounts for 2-5 percent, not 30-50%.

Do you have a link saying that stipends increase the money supply? I haven't seen that.. This is an example of not knowing what the heck is going on.

I'm not screaming the sky is falling. You're confusing me with other posters who are doing so.

Let me repeat: the sky is not falling, but the L$ is rapidly devaluating.

Whether or not other people are using hyperbole to describe this does not alter that fact and really has nothing to do with what I'm pointing out.

blaze,

Why not spin this 180-degrees. Instead of framing your thoughts on why the market is so low, frame your thoughts on why it was so high. My theory and random thoughts:

There was a lot of Second Life publicity late Spring, early Summer. That's how I arrived at this place, after seeing it on CNN somewhere. Because of this, lots of people streamed to SL over the Summer. There was a land crunch... seemingly not enough for all the newbies. Land prices went up, and at the same time, all those newbies thought they had to have lots of L$ to survive. Then, new land was added. By the end of Summer, a lot of the newbies lost interest or time, and dropped out of the world. It's also possible that many of the survivors began to realize that having lots of L$ really isn't necessary. For those with subscriptions, they get enough with the weekly stipend. Others may realize they can get things for free or create their own.

Thoughts on how to raise the value? Make it more valuable (duh!):
--Stop giving away L$ for free.
--Charge an entrance fee to your build/event.

Yeah .. a lack of demand. I proposed this thread exactly because I don't see a lack of demand in the works.

It is possible of course, however we had over 325 events last weekend (the most ever). And according to Philip's spreadsheets, the # of objects purchased is still pretty high.

I don't see a lot of indications of a drop off in demand. SL is doing alright (maybe not gangbusters) but I believe there has been a loss of faith by serious investors or something else more nefarious.

Blaze, you are the genuine inspiration behind Chair Fight. Have you seen that yet?

Im waiting for L$ to hit 0 for USD, then maybe all this nonsense will end

Actually, I hafta come clean.

It's me. Sorry.

Well, me and my 26 alts so far. See, it works like this:

I create a new account, get in game, rate whore like crazy for 3 days, networking, getting to know people etc. Well, you know what SL is like, I mean you can be best friends forever in under 2 days and love a lifetime in 3. So I gain a few people's trust and affections with each alt (sometimes get married), outline a great business plan for which I need money for land and uploads etc, and I borrow a few k off of my new found best friends. Sometimes they'll even let me be an officer in their group and I can sell their deeded land from right under them as a bonus. And then I simply dont renew the account and then sell the whole lot on GOM, see?

And now half the people in world havent got the Lindens to spend because I've been fleecing them of all their money. And I can tell you for nothing that I'm not the only person doing it - net result, recession.







Disclaimer: The only part of the above that is prolly true is that other people are doing it. But random insane theories seem to be all the rage. Thought I'd present mine.

Agreed toy.

It makes absolute no sense as to why the $L is such a big deal only to be there to make $US. Perhaps SL will finally return to the way it has been a year ago. Where community mattered and $L wasn't the highest priority.