Still Not understanding LindeX & Data HELP!

Ok I posted about this yesterday that I felt the market data and lindeX trading values were incorrect and after thinking about it some more things still do not make sense.

I ran a test or 2 yesterday in small amounts to see if the high and low trade amonts showing were correct. I got talked into believing that they were.

before I run this next test I want to make sure we are in agreement

Posted from the buying page of the linder buy order I am about ready to place:


Order Summary
Description: Buy Linden Dollar Order for L$5
at a limit of no less than L$1 per US$1.00
Estimated Price: US$5.30

So therefore I am going to be buying $L5 at an exchange rate of $L1.00/$1.00 USD CORRECT?

wich inturn will cost me $5.00 USD + the .30 fee that linden labs charges this fee is not figured into the exchange rate correct?

ie. look at my total cost of the buy = $5.30 USD

Ummm. Well, I don't think it's going to work that way. I think you'll get charged the transaction fee, but I think you'll get the L$5 for a lot less than US$5; rather, I think you'll get it at the price of the current lowest sell order (about L$265/US$, usually). So, regardless of what the estimated price is showing you, it should cost... well, too lazy to calculate it, but not much more than the US$0.30 transaction fee, really.

got this error message when I tried to do the buy

I was not buying less then a $1.00US worht I was buying 5.00$$

We are unable to complete your request.
• You cannot purchase less than US$1.00 worth of currency. Your closing net is 0.32

But you only get to specify how many L$s you want to end up with, not how many US$s you want to put into the transaction. So you were only buying L$5... which at the 265 exchange rate evidently works out to US$0.02 (plus the 30-cent transaction fee).

No. If you posted correctly, you were buying 5 lindens, not 5 dollars worth of lindens.

Since you offered to buy at a ridiculously high exchange rate, 1L per dollar, you would have bought at the current rate of, say, 264 per dollar.

Your cost would have been 5/264 + .30 = $.32, which is exactly what was reported to you.

[EDIT: Qie beat me to it.]

That was all trying to do a limit buy order

YEs it will fill a limit order at the going rate ----- as long as it is not lower then the trade limit you set. And Market orders are not included ie when a market order shows you a est. exchange rate of $L242/USD$1.00 that is not counted in the days trading high and low limits AND it SHOULD BE. For a true reading of whats going on

D

A buy or sell order if its a limit order or a market order is ALL lindeX activity...

Why are market orders NOT included in the days trading high and low limits under market data?

They are. From the prior thread, the explanation was that you were including the US$0.30 in the calculation (as does the estimate on the page, apparently), but the true exchange rate was still L$265/US$. It would be just weird to base the market history data on how much people spent on the transaction fees.

Ok well I guess its a dead issue. LOL I'm not sure that I %100 understand it but ok......

I just can't believe or I should say I have a hard time believing that in a months time we have for the most part stayed at the same trading levels? With almost no change day to day....

There was change back at about the 10th of July. We were up to $L275/USD$1.00

around the 10th is when most are cashing out to pay fees (i think)

so that would make sense that the market got flooded with $L at that time

The money market has stayed very stable for the entire time I have been in SL - from December 2006 to today. I am of the impression that LL does actively work to maintain a stable L$.

The spread you see between the L$264 (or L$265) to L$275 is the 3.5% service fee that LL charges on sales of L$. Some days the market 'closes' on the L$275 figure which makes it look like the market took a big 'jump' that day, but if you look at the chart of the spread you'll see the high and low almost never change.

Once again, you have to analyze the rates without the service fees; on buys that means discounting the 30 cents that they charge, and on sells, that means ignoring the 3.5% markup they charge. When you just look at the 'clean' numbers, you'll see that yes, the exchange rate has been fairly solid for 18 months or more.

-Atashi

That's what Supply Linden does: maintain a stable LindeX exchange rate by selling freshly minted L$s when demand starts to boost the price. (This is a cue for all the gold bugs to jump on this thread and rail against any use of monetary policy by dem ebil guv'ments.)