LindeX at 263!

Supply Linden must be asleep at the wheel. All my old sell orders are firing at 263. If you want to get that 1 extra L per USD, get it in fast!

I wonder, though, how much it takes before Supply Linden kicks in. I mean, really, I had an order from April (!) that finally got filled and now it's racing through them like hotcakes.

grr... sold 200K yesterday

this is the lowest i saw this year. Is something going on ....

This happened once before, in April, when it seemed like Supply Linden was snoozing. Since then, I put all my orders at 263 in the event of something like this happening again. I still have 2 orders from mid-July that need to get filled, and a third recent order. It was nuts, I got 6-8 orders filled in rapid succession. Yay!

I am watching but have no concrete way to really see how much money is traded before Supply Linden dumps another 20 mil at 264.

Current rate on SLX is 277L to 1 USD
I use them all the time, even with their small fee I still get more bang for my buck.

I've been using them for over a year and have never had so much as a glitch let alone a problem.

Just fwiw.

FaTeke

I had one for 263 I placed on 2008-08-02, and it didn't fill.

And yet the buy rate is up...

Looks like the spread is shifting to 263-274.

The value of the linden is rising, that has to be a plus for the economy

I cashed in on the 11th, still waiting for it in my paypal..how long does it take? Sorry, Im used to the speedy SLExchange.

I've got 5000 each sitting at 245 and 246 just to see if they'll ever sell... I'm thinking it'll be a cold day in Hell, LOL.

Looks like 263 is the new 264. Approximately 40M for sale at 263. We just got a couple cents more per thousand. Whee.

Cool, I had a nice amount sat at 263 that I had forgotton about, so nice suprise when that sell confirmation popped into my inbox

We're talking about selling Lindens. 277-to-1 sucks if you're trying to sell them, but is great if you're trying to buy them.

* RUNS to lindex to place a sell order *

OHHHH! I feel like an idiot now.

Sorry to intrude in a conversation where I obviously know nothing.

FaTeke

Today I'm looking at the Sell L$ page and 263 is still riding the top, with about L$14 million still to fill.

I wonder, if LL weren't regulating this, how long it would take to force the sell price lower?

Supply Linden dumps millions of L on the market every day. It doesn't take long for money to move, and if Supply Linden didn't sell L, there probably wouldn't be enough money to go around.

Why dump, though? I mean, it's not like the L$ can ever be destroyed, smuggled out of the country, etc, like the physical USD can be. I suppose one could argue that there are millions of alts out there with 100-200 L$ just sitting in their accounts, which effectively remove the L$ from the market... but really, it's a closed system. The same L$ keep circulating over and over.... any economists out there?

Not an economist, but: all those L$ "sinks" like Classifieds, file upload charges, bribes to the Governor, etc.

Also, you get new players every day who need money and buy it from LL/LindeX or one of the other currency services (who turn around and buy from LL/LindeX). If supply didn't dump L every day, the value of the L would be a lot closer to the US dollar. If you sit and watch the LindeX sell activity by refreshing over and over again (or looking at the economy charts for the LindeX activity), you will see millions of L move in a day.

Ahhh I forgot about those. They're still the same L$, though, right? Like if I marked one with a Sharpie, sent it to LL via a Classified, someday, somewhere, it would come back to me. Are the Lindens actually CREATING new L$ every day? Or do they just toss the used ones back into circulation?

They are creating new L every day.

You can see the amount for the sinks (L$ being destroyed) and sources (L$ being created) on the economic statistics page (http://secondlife.com/whatis/economy_stats.php).

You can argue that supply-and-demand would eventually create an equilibrium even without LL interference but that would just create a big mess: everything becomes more expensive and buyers stop buying because their threshold is reached and eventually sellers will have to adjust their L$ pricing downward while meanwhile an additional few hundred million L$ (that Supply Linden would have sold) each month is lost because the demand for L$ would normally outpace the supply.

Supply Linden keeps everyone happy with a stable exchange rate, least of all LL which "earned" half a million US$ in July just for keeping the L$ stable.

(That didn't come out very well but I'm too tired to rewrite )

Also there'd be ample opportunity for mischief, if speculators could actually "play" the L$. It's just not such a big economy that somebody couldn't effectively corner the market in L$s.

Your help and input on this would be much appreciated by me......

Can anyone tell me where the best place to buy Linden would be?
I had an Open order on SL Lindex Exchange the other week and as it was not filled in 3 days I took it off as it was only a small amount, in comparison to some I've seen, it was an order for $L15,000. OK it's not a lot I grant you but it was for approx $50.

I replaced the Open order 5 days ago for $50 again and still nothing has happened. I was considering putting it up to $150 as I want to buy some land in SL and I may need to do it in Linden... as it's a private sale, and as they seem to want Linden I am doing it this way.
I don't really want to tie up my US$'s like this and if this order isn't filled by Saturday, it will have been a week by then, am I daft to cancel this one too? Or should I contact LL and ask why the order has not even been touched, I placed the order on the 9th Aug and since then there has been a lot of movement on there at the rate I asked for too. I've not used this much but I need to get some Linden so I did it this way to try to get more for my $.
I know there are a few different places out there that do Linden. So I thought I'd ask in here to see if anyone can offer some good advice as to what would be the best way to go about this, and also where would bethe best place.
I could just place and order but I'd get a low rate on the SL Lindex, and I don't want to wait an age for the order to be filled either.
So would SL Exchange be worth a try?
I know it isn't a huge amount compared to some peoples orders but it is a lot to me.. and as the saying goes 'From little acorns....'

Your thoughts on this would be of use to me I'm sure, so thanks in advance for any helpful comments/pointers.

Rorrim

Rorrim, the LindeX is the best place to sell. Other places may be better for buying. In terms of selling L, what rate did you try to sell your L at? If you pick a rate that is too far outside the prevailing sell rate, it can literally take months before it sells. You need to look at the lowest (highest number of L) sell orders in the millions and then add 1. Your order should fill within the hour if not much faster than that.

e.g., now the bulk of sell orders are at 263. Sell yours at 264.

A limit buy order on the LindeX generally fills within minutes (most I've had to wait was half an hour).

https://secondlife.com/account/currency_settings.php <- make sure it's set to Advanced

Use the "Increase Your Credit" on your account page (https://secondlife.com/account/manage_balance.php) to put a US$ balance on your account to buy the L$ with.

Go to https://secondlife.com/currency/buy.php and look at the "Open *Buy* Orders". You'll want to place a limit buy order for 1 less than the lowest open buy order. Currently there's L$43 million at L$274/$1 so you'd place your limit buy order at L$273/$1 to make sure it gets processed first (for buy order the fill order is low to high and in the order they were placed for the same exchange rate).

At L$273/$1 L$15,000 would cost you $54.95 + $0.30 = $55.25 (compared to $57.33 if you just bought them the regular way)

SLex might have slightly better rates but I doubt it's going to make that much difference, especially since LindeX limit buys fill quickly (my last limit buy of L$27,319 filled in 37 seconds).