Value of the Linden...
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Uvas Umarov
Phone Weasel Advocate
Join date: 8 Feb 2007
Posts: 622
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08-26-2007 05:40
seems to be going up. It hit a new recent high of 264 to the dollar yesterday.
Anyone have any ideas on why, and how high it will go?
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"On the other hand, if you are convinced that I spent all the money on a new sports car, then getting even 2.5% instead of 0% back would be quite a deal, wouldn't it?" ---ginko bank owner on his financial dealings
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Ciaran Laval
Mostly Harmless
Join date: 11 Mar 2007
Posts: 7,951
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08-26-2007 05:45
Is that the selling or buying rate? 266 - 276 is around the norm.
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Uvas Umarov
Phone Weasel Advocate
Join date: 8 Feb 2007
Posts: 622
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08-26-2007 06:10
Sell rate 264
Buy rate 275 right now...
_____________________
"On the other hand, if you are convinced that I spent all the money on a new sports car, then getting even 2.5% instead of 0% back would be quite a deal, wouldn't it?" ---ginko bank owner on his financial dealings
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Uvas Umarov
Phone Weasel Advocate
Join date: 8 Feb 2007
Posts: 622
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08-26-2007 07:23
Hmm, I found a clue. Supply Linden sales are WAY down this month! July supply linden sales were 159,000,000 August to date are only 19,000,000!! Supply of Lindens go down, price goes up.  Also it looks like people are bailing from premium accounts, stipend payouts look like they will be down 30,000,000 in August.
_____________________
"On the other hand, if you are convinced that I spent all the money on a new sports car, then getting even 2.5% instead of 0% back would be quite a deal, wouldn't it?" ---ginko bank owner on his financial dealings
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cHex Losangeles
Registered User
Join date: 24 Nov 2006
Posts: 370
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08-26-2007 08:55
Supply Linden is meant to stabilize the value of the L$ (and if LL happens to make a fortune, then serendipity, Baby). If they are selling less L$, it means the demand for L$ has weakened as compared to the supply--not necessarily that the value of the L$ is going up. It could mean that more people than usual are cashing out, less people than usual are buying L$, or a combination of the two.
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3Ring Binder
always smile
Join date: 8 Mar 2007
Posts: 15,028
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08-26-2007 10:12
awhile back, to test the ratio and "rationale", in the same 10 minute period- i sold L$276 and got $1US, but only got L$185 for my $1US when i rebought.
very uneven.
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it was fun while it lasted.
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Osprey Therian
I want capslocklock
Join date: 6 Jul 2004
Posts: 5,049
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08-26-2007 10:30
From: 3Ring Binder awhile back, to test the ratio and "rationale", in the same 10 minute period- i sold L$276 and got $1US, but only got L$185 for my $1US when i rebought.
very uneven. Was that market or limit? |
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Annabelle Babii
Unholier than thou
Join date: 2 Jun 2007
Posts: 1,797
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08-26-2007 10:45
From: 3Ring Binder awhile back, to test the ratio and "rationale", in the same 10 minute period- i sold L$276 and got $1US, but only got L$185 for my $1US when i rebought.
very uneven. That's because of the $.30/transaction fee. You really only spent $.70US on $L. Never ever ever buy less than $10US in $L. it skews the ratio |
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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08-26-2007 11:16
This will be fun to watch. Last year before Supply Linden could sell almost unlimited amounts of L$ the rate started to go down and the big content creators who normally cash out every week noticed it so held their sell orders precipitating a rapid decline. The change in LL policy allowing Supply Linden to sell the amount he can now sell was caused by the rapid declines last year so watch for his sales to increase rapidly if the rate drops to L$263/1 or lower. If Supply Linden doesn't start selling and the exchange rate continues to drop then there has been a change in LL policy.
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Gordon Wendt
404 - User not found
Join date: 10 May 2006
Posts: 1,024
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08-26-2007 11:42
From: Svar Beckersted This will be fun to watch. Last year before Supply Linden could sell almost unlimited amounts of L$ the rate started to go down and the big content creators who normally cash out every week noticed it so held their sell orders precipitating a rapid decline. The change in LL policy allowing Supply Linden to sell the amount he can now sell was caused by the rapid declines last year so watch for his sales to increase rapidly if the rate drops to L$263/1 or lower. If Supply Linden doesn't start selling and the exchange rate continues to drop then there has been a change in LL policy. That would actually be great, for people like me who never buy and only sell lindens a rate of 1:1 (which I admit will probably never happen) would be ideal.
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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08-26-2007 12:23
Well that didn't last long. Supply Linden just dropped a L$10,000,000 sell order at L$265/1 so we know that the policy has not changed.
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