LL Selling $L?

Hmm.

Initial reaction: "ZOMGWTFBBQ IS LINDEN LAB THINKING THOSEFUCKING ASSHOLE PRICK GREEDY FUCKING PIGFUCKERS"

After re-reading Robin's announcement and her clarification, it sounds like they're changing the legalese of the ToS to allow them the ability to sell $L in times of... whatever. Economic distress, say.

So, let's say Anshecorp gets their panties in a bunch, and, having over 5% of the total land in SL under her belt, decides to crash the Lindex. Again. Or maybe just hoard money until LLab capitulates to her demands. Or whatever.

Or better yet, let's pretend Anshe's alleged $L500,000 a day business simply stops converting it to $USD on the Lindex, for a month. There goes $L15,000,000 from the economy inside of 30 days. Whoops, big problem for the economy to suck up. LLab could influx the necessary $L to balance this out

Times like that, the big players force the little ones to suffer through their temper tantrums. The result is a fluctuating and unstable economy. What LLab wants to do is the option to sell $L during these times to stabilize the economy.

Of course, I'm the optimist. What will probably eventually happen is, during one of these times, it will be wildly successful. As a result, LLab will reduce/remove stipends further, and make the only way to infuse cash into the world by purchasing controlled amounts of $L. That is to say, not like There.com, where you could theoretically buy an infinite amount; rather, they might release $L1,000,000 into the system per day and have people bid on it.

That'll happen within a year, in my humble opinion.

Already happens. I got snared in a steel trap last week in Boardman. I got out, but my left ankle is no longer comely.

Funny, right after you posted that, Robin Linden's post pretty much confirmed everything I said. Guess you stopped reading at the Fools part and assumed the rest.

Fact remains, everyone crying DOOOM and running to cash out their L$ should be waiting to see what they plan.

Well your first post in this thread, I ignored all the insults and went about reading the rest of the discussions in this thread... but now it appears you are the one that is running around screaming and kicking while the rest of discuss the possibilities and affect it may have on us...

Cheers.

Watch the Lindex today for some crazy-eddie insane deals.

Best entertainment I've seen for a long time.

Make yourself comfortable, pull up a chair, and get paid L$5/10 minutes as you do so.

Lewis

I'm sorry about this. We've had a small gopher problem in Boardman of late.

True, I might be able to snag some good deals.. Might as well capitalize on the Chicken Littles. What was it P.T. Barnum said?

Funny, you have missed the point over many people's concern. Do you not realise how big a policy change this is? Do you not understand the implications? Well from this post, it's clear you do not.

PS you guesed wrong. I read it. I can ensure you I didn't find much there that was enlightening.



I doubt many will. Most of this concern was elevated further by the fact that protracted discussions were taking place and yet LL took their time to make a statement.

I know of the one you're thinking of. But he also said, "Money is a terrible master, but an excellent servant."

I think you delibetely misinterpreted concern and confusion about an important topic that affects us all for stupid panic so that you could insult a bunch of people here. What you fail to understand is that you don't need an excuse. These are the forums.

The gophers are both cute and contained. It's the moles THE MOLES that are undermining the grid fabric. We need smaller traps.

Robin, what I don't understand is why you would want to do this in the first place. Inflation is going to be determined by supply and demand for content, not an influx of Lindens flooding the market. If the value of the Linden plummets then prices will rise to compensate. Inflation will occur as a result of your action, not the other way around.

Better to just let the market determine the value of the Linden and stay out of it. You already have some control over Linden by controlling the introduction of new land into the market. Land is the biggest expense for most people and the more scarce then the price of land increases, driving up the value of the Linden. Increase the introduction of new land and the opposite effect. You already control the price of the Linden to a degree, the economy seems to be doing just fine.

If it aint broke, don't try to fix it. A friend of mine has a handyman business IR. He has two prices he quotes customers... one if you call him to fix something, and another if you try to fix it first. lol

I think we're arguing two different discussions here. Yes it's a huge policy change, but I don't see why it's grounds for cashing out ASAP.



If you already understood, then there's no need to be panicking. And if you're not panicking, then the post wasn't for you. So why the replies?



Actually Robin's post was made at 4:59PM Forums-time, which is 9:59am LL time. I can quite reasonably see "Take care of Forum brushfires" falling after "Wake up", "Get Ready", "Drive to work", "Misc Monday Morning Office Tasks", and "Deal with unresolved weekend issues."

Also, I just looked at the full Statment in the Announcement Forum, and I see that Robin also posted up links of real-world economic models that support this decision. Even less reason to start dumping L$ on the market for 500/1.

Atleast it seems that people with calmer heads are profiting on the Chicken Littles. All the L$ that was above 303/1 has been purchased at the time of this posting.

The quote button is for replying to a particular post, or parts of a particular post. It's quite handy. You should try it.

Well, I would disagree there.









These are just a few stand-outs that I've quickly gathered. Another sign of Unwarranted Panic is that alrady today's high is $500/1 with a huge swing in the value of the L$. Since LL hasn't started selling L$ and hasn't even stated a plan yet, it's purely a panic reaction.

As it is, my post was about people panicking over this with no specifics. If you're merely concerned, then the post wasn't for you. I apologize if it appeared that way,but I felt I was clear that we shouldn't panic and should wait and see.

I have read thru most of the posts on this thread and do not seem to see the obvious question that springs to my mind.

If Linden are going to allow themselves to sell L$ to stabilise the market in one direction - why wont they bite the bullet and buy back the excess L$ they have already pumped into the system that is destabalizing in the other direction ?

Surely as they aim to be the SL national bank they should perform both tasks when the need arises.

Simply put: Buying L$ back costs them money. Creating L$ and selling makes them money.

They kind of want the good part of being the treasury, but not the bad part

This is a great question. If I were to guess, I'd think it means that they might plan to err on the side of more Sinks, rather than more Sources.

Personally, I think they should do away with the players selling to players thing since, from a mechanics standpoint, I think it has some big issues. Hopefully this new change is a step in teh right direction to solve these issues. But maybe it might not be too bad of an idea for LL to just buy/sell the L$ in it's entirety. LL buys the L$ you want to sell at say, 250/1 and then those who want to buy, do so at 240/1 (numbers are just an example.) They then have a firm grip on the economy, and are making a profit to boot which can be put towards operating/upgrade/expansion costs.

But I think LL really wants the economy to work as hand-off as possible. And they can't really tell if it'll work that way with their hands in it all the time. Seems they've seen that, in its current state, the economy can't run that way, and are now putting their hands into the mix to reshape it.

That's an equally valid possibility too

Whatever. I need my money while it's still worth something to someone.

And everything else. XD

I am just not a big fan of those who like to be-little others in order to try and look clever. I would like to emphasise 'try'.

I also wanted to point out that you completely missed the point; it seems that you are guilty of not actually reading the various threads that these "chicken-littles" are posting in.



And this post was made by Robin at 6.41 am

/130/12/105401/1.html

I don't think it's fair to lump this on one LL employee, but it highlights the fact that it was known about well before.



I would say that the chicken-littles are those that are only worried about the exchange rate, and are blind to the bigger questions that so many have raised this morning. These questions are still to be answered.

Now, I am sure you have L$ trading to continue with

I agree - and believe this is the only solution to the constant roller coaster ride that is exchanging L$.

A market this small cannot function and survive like a real currency market - it is unstable in its very nature.

LL - scrap the lindex as a mistake.

Sell 1.00 L$ for 0.xyz US$ and buy it back for 0.abc US$

Then everybody knows what is what, content providers know where they stand re. selling their goods - buyers know where they stand re. buying stuff and we can put these constant firework displays behind us and get on with improving SL.