Silly Rabbits, let the LindeX go to 261!!

It went there at the end of November but people keep stocking it at 262 and 263. Don't you want a few extra cents? Let the damned thing go to 261.

I wonder what makes it move around at all sometimes.

hollidays

I think one of the "people" stocking it is called "Supply Linden" - he (or she) offers lots of Lindens for sale at the price that LL would like to keep it at. It's not a totally free currency market.

I am well aware of Supply Linden's existence.

Is it worth the wait for a few extra cents?

My theory is there have been too many threads on the LindeX and now everyone knows how to use it they're all carping the market instead of hitting or lifting the bid or offer. It's very annoying!

Sorry, Cristalle, I didn't mean to insult you (I sense that I did though) - my understanding (flase as it may be) is that Supply Linden makes sure that there is always enough Lindens for sale at a price that THEY want, so nothing we can really do will change it.

What have I missed?

that you can inflate your own virtual currency.

Sorry Kalderi. I do not think it's Supply Linden keeping it at 262, although it could be. They let the sales run at 261 and a critical mass sprung up around that point. But a competing critical mass is back at 262. It is annoying, because I've got a bunch of orders that have been sitting there for almost the entire month now.

Another opportunity to advertise my website: http://ninjaland.net/tools/lindex-market-data/.

I don't think LL is propping it up at 262 if you look the amount at 262 isn't getting lower and lower then jumping up. It's being constantly refreshed. Which, in my opinion, shows that Cristalle is right. Real people are just joining the 262 bid since they get filled quickly.

Unfortunately, you can't fight "the market" with logic. Controlling crowds like this is notoriously difficult and human nature means someone will always undercut the 261 price if they can't be bothered to wait. Especially right now since if you put a bid up at 261 you can expect it to remain unfilled forever.

Surprising how stable the L$/US$ rates have been given the volatility of the FX markets.

I would prefer the Linden Dollar not be tied to the US Dollar, because USD is going in the tank. Now if only there was some way to buy gold inworld...

What people don't realize is how fast the LindeX moves. You could move L$30M in a matter of hours. The constant refreshing is stopping everyone from picking up more money per transaction. If they let it run down to 261, the Supply Linden breakers probably wouldn't engage until it was at almost 260.

eta: Nice chart, Elan! That will provide some really interesting data.

The amount at Sell@262 seems to be stalled at 14,300,000 or so, but yet sells at a lower rate have been cleaned out. Ive watched this in real time by constant refresh. Right now orders at 257 are being eaten away:

14:03 SL Time

L$262 / US$1.00 L$14,459,523
L$257 / US$1.00 L$216,946
L$256 / US$1.00 L$354,153

14:05 SL Time

L$262 / US$1.00 L$14,311,682
L$257 / US$1.00 L$188,060
L$256 / US$1.00 L$330,644

14:08 SL Time

L$262 / US$1.00 L$14,230,523
L$257 / US$1.00 L$142,886
L$256 / US$1.00 L$296,668

14:12 SL Time

L$262 / US$1.00 L$14,230,523
L$257 / US$1.00 L$72,694
L$256 / US$1.00 L$217,628

14:19 SL Time

L$262 / US$1.00 L$14,230,523
L$256 / US$1.00 L$50,357
L$255 / US$1.00 L$481,195

Its as if supply linden has a fixed amount at 262 that it wont go below, and refills its orders to maintain that level, but yet some trades break through to a lower price.

Notice how at 14:08 and 14:12 the amount at 262 stayed the same, and yet lower orders are being steadily eaten?

The theory that Supply Linden enters orders like the rest of us might be wrong. They may have a fixed entry in the Lindex order table that is not real orders at all, just a number like 14,230,523 thats added to whatever the real orders at 262 are.

(I do think they actually sell, since they report that on the economics stats page, but its also possible to artificially change the reported order totals to help stabilize the price where they want it)

This silly puppy let the LindeX go to 261 and had two sell orders filled on Christmas Day! Yay! I value my extra cents.

I agree, I've been trading for well over a year and it appears that more and more have started trading especially lately which is destroying the level of return that can be achieved.

The LindeX had a bug in it and is now closed until LL can fix it.

It is reopened now but still don't look right, just sold 23125 L$ at 251 in 27 minutes with a large sum sitting at 262 and even at 263, either orders are filled at random or the order book is not updated right resulting in lower orders being the actual best orders.

wish my buy orders where already filled, got L$675,231 sitting from the 24th and another L$153,704 sitting from the 26th both at 272

Right now, that's not a very good deal. L$ are selling for 251/$1 in minutes.

Clearly, I should have waited for the "day after Christmas sale" on the LindeX! I did sell a few more for 251/$1. Will be nice to cash out at a better rate since my annual membership is due soon. Hopefully the rate will continue to be favorable for sellers, but not too extreme, lest no one buy.