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LL Selling $L? |
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Sensual Casanova
Spoiled Brat
Join date: 28 Feb 2004
Posts: 4,807
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05-08-2006 06:20
Here is quote from Robin Linden
We have also made a change (see paragraph 1.4) to enable the L$ sale by Linden Lab . We are considering the sale of L$, but only within the context of smart economic policy. In other words, we will only sell L$ if we think the economy can absorb a new infusion of L$ because either other sources have been reduced or sinks have increased. Please tell me I am misreading something? LL Selling thier own currnecy.. why would they ever or want to do that? your thoughts? _____________________
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Hiro Queso
503less
Join date: 23 Feb 2005
Posts: 2,753
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05-08-2006 06:22
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Sensual Casanova
Spoiled Brat
Join date: 28 Feb 2004
Posts: 4,807
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05-08-2006 06:33
I had to get a cup of coffee and look at the calendar to assure myself it wasn't April Fool's ... this is ridiculous and I see no need for LL to sell $L EVER!
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Nolan Nash
Frischer Frosch
Join date: 15 May 2003
Posts: 7,141
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05-08-2006 06:39
I am honestly very confused about this announcement. I have no idea what they are thinking...
I can see one short term issue cropping up immediately. People are going to start dumping L$ onto LindeX ASAP, and it looks like it's already started. I'll take the "Fuck You Charlie" combo special Miss, with a side of "Devaluation Fries". _____________________
“Time's fun when you're having flies.” ~Kermit
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Billybob Goodliffe
NINJA WIZARDS!
Join date: 22 Dec 2005
Posts: 4,036
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05-08-2006 06:44
its not all that hard a concept really, hell the US government does it all the time. they are going to stop selling linden when the value starts to drop, then sell it again when the value is too high, its way to control inflation and the total amount of currency in circulation.
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Sensual Casanova
Spoiled Brat
Join date: 28 Feb 2004
Posts: 4,807
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05-08-2006 06:47
its not all that hard a concept really, hell the US government does it all the time. they are going to stop selling linden when the value starts to drop, then sell it again when the value is too high, its way to control inflation and the total amount of currency in circulation. What is too high and too low? It wasn't long ago where you could get $1200 USD for $L250k... Who determines what is too high and too low? Who determines when they should start/stop selling $L? There isn't a shortage of $L, why do they even need to sell at all? Why not just set a fixed rate oln Lindex? _____________________
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Ingrid Ingersoll
Archived
Join date: 10 Aug 2004
Posts: 4,601
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05-08-2006 06:51
What is too high and too low? I don't understand this either. When I started 1000L was close to 5 USD. And land cost a fortune. It was just part of the whole cycle, and everyone survived... then the value of the $L dipped drastically and we still survived. I wonder what precipitated this decision. _____________________
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Hiro Queso
503less
Join date: 23 Feb 2005
Posts: 2,753
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05-08-2006 06:57
I wonder what precipitated this decision.  _____________________
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Ingrid Ingersoll
Archived
Join date: 10 Aug 2004
Posts: 4,601
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05-08-2006 07:22
srsly _____________________
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Schwanson Schlegel
SL's Tokin' Villain
Join date: 15 Nov 2003
Posts: 2,721
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05-08-2006 07:30
This is the ultimate slap in the face for content creators in SL.
Complete bullshit.  _____________________
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Jon Rolland
Registered User
Join date: 3 Oct 2005
Posts: 705
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05-08-2006 07:33
its not all that hard a concept really, hell the US government does it all the time. they are going to stop selling linden when the value starts to drop, then sell it again when the value is too high, its way to control inflation and the total amount of currency in circulation. If they are gonna stop when the linden starts falling they would never have announced they were starting! ROFL |
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Shirley Marquez
Ethical SLut
Join date: 28 Oct 2005
Posts: 788
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Not necessarily...
05-08-2006 07:40
The change in the TOS is giving LL the right to act as a reserve bank does; controlling the money supply. There seems to be a lot of alarm at the notion of LL selling L$; however, there is no reason to believe that they will be selling any in the near future. Right now, general agreement -- including statements by LL -- is that the money supply is too large, causing inflation in-world.
For now, I am willing to believe that LL will use its power as a central bank responsibly, and not issue any new L$. |
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Khamon Fate
fategardens.net
Join date: 21 Nov 2003
Posts: 4,177
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05-08-2006 07:43
I don't understand this either. When I started 1000L was close to 5 USD. And land cost a fortune. It was just part of the whole cycle, and everyone survived... then the value of the $L dipped drastically and we still survived. I wonder what precipitated this decision. _____________________
Visit the Fate Gardens Website @ fategardens.net
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nimrod Yaffle
Cavemen are people too...
Join date: 15 Nov 2004
Posts: 3,146
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05-08-2006 07:57
You're all whining before you even know what they are going to do. Why not wait until they say what they actually plan to do? Yes, yes, I know, you don't want to sit around and take it, but at this point, do you know what you're taking?
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"People can cry much easier than they can change."
-James Baldwin |
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Ingrid Ingersoll
Archived
Join date: 10 Aug 2004
Posts: 4,601
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05-08-2006 08:00
You're all whining before you even know what they are going to do. I think confused is more like it. The economy has been self sustaining, as far as I know. There have been ups and downs like any real economy. _____________________
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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05-08-2006 08:00
You're all whining before you even know what they are going to do. Why not wait until they say what they actually plan to do? Yes, yes, I know, you don't want to sit around and take it, but at this point, do you know what you're taking? No, but given how fundamental this is, and how little we've been given to go on, it is hard not to be concerned about this one. _____________________
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 08:01
You're all whining before you even know what they are going to do. Why not wait until they say what they actually plan to do? Yes, yes, I know, you don't want to sit around and take it, but at this point, do you know what you're taking? Shutup you!! WE'RE ALL GOING TO DIE!!! RUN FOR YOUR SECOND LIVES!!! |
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Ingrid Ingersoll
Archived
Join date: 10 Aug 2004
Posts: 4,601
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05-08-2006 08:02
Shutup you!! WE'RE ALL GOING TO DIE!!! RUN FOR YOUR SECOND LIVES!!! I can't wait for your wand to be worth 6 cents. I'll buy one in each color. _____________________
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 08:03
I can't wait for your wand to be worth 6 cents. I'll buy one in each color. Okay, I'm sorry. I shouldn't laugh.  |
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Ingrid Ingersoll
Archived
Join date: 10 Aug 2004
Posts: 4,601
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05-08-2006 08:23
Okay, I'm sorry. I shouldn't laugh.  Just pulling your crazy, little leg Starax._____________________
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Pratyeka Muromachi
Meditating Avatar
Join date: 14 Apr 2005
Posts: 642
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05-08-2006 08:45
once LL starts selling currency, they will need something else to control inflation and the economy. And that is taxes and interest rates.
Face it. People come into SL and brought the economy with them. By insisting into making people pay for your products, you the people of SL have brought this upon yourself. You want money, but not what comes with it. That just can't work. Money has to flow to have any value. If the money has nowhere to go, the economy stagnates. I predict LL will at some point introduce more money sinks in order to make the money flow. _____________________
gone to Openlife Grid and OpenSim standalone, your very own sim on your PC, 45,000 prims, huge prims at will up to 100m, yes, run your own grid on your PC, FOR FREE!
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Surreal Farber
Cat Herder
Join date: 5 Feb 2004
Posts: 2,059
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05-08-2006 08:55
Face it. People come into SL and brought the economy with them. By insisting into making people pay for your products, you the people of SL have brought this upon yourself. How very odd that I would want recompense for my time and effort. I think I will go into my boss's office today and tell her i've decided to work for free. Hopefully my landlord will also let me live in my apt. for free. _____________________
Surreal
Phobos 3d Design - putting the hot in psychotic since 2004 Come see our whole line of clothing, animations and accessories in Chaos (37, 198, 43) |
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Enabran Templar
Capitalist Pig
Join date: 26 Aug 2004
Posts: 4,506
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05-08-2006 08:56
Terrifying.
It's grab-yer-ankles time for those of us who have been counting on any amount of SL income to pay the bills. What a bunch of douchebags Linden Lab has turned out to be.  edit: The transition from using L$ to another form of exchange isn't going to be fun. It'll be interesting to watch the market respond to this stupidity. In the meantime, I'm going to cash out for whatever rate I can get. _____________________
Furthermore, as Second Life goes to the Metaverse, and this becomes an open platform, Linden Lab risks lawsuit in court and [attachment culling] will, I repeat WILL be reverse in court. Second Life Forums: Who needs Reason when you can use bold tags? |
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Sensual Casanova
Spoiled Brat
Join date: 28 Feb 2004
Posts: 4,807
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05-08-2006 09:09
In the meantime, I'm going to cash out for whatever rate I can get. I think that would be the worse thing you can do...It is actually people that do this that make LL want to Sell $L... _____________________
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Ashen Stygian
@-'-,---
Join date: 30 Apr 2004
Posts: 243
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05-08-2006 09:12
what the fuck?
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Chaos may not be the safest sim to attempt to grief.... It's a little like going to an insane asylum to pick a fight.  |
