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Damiel Ingersoll
Registered User
Join date: 3 Jan 2004
Posts: 18
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09-09-2004 11:40
Hey, I was just noticing that the L$ for Land Fee Offset Table has been static for a very long time and that the exchange rate on it is wildly divergent from the current state of the currency market on GOM. The exchange rate on that table is: L$2,000 per $1 US the exchange rate on GOM today is: L$179 per $1 US ...that's more than a ten-fold multiplier. So, that means that I could either, (a) Use the Linden exchange rate and pay L$10,000 for a $5 US reduction in monthly Land Fee, or (b) go to GOM, and sell L$895 and get $5 US that I could then allot to my land fee payment. Hmmm. Am I doing the math right or am I missing something obvious? Perhaps the Lindens could code that table to make it dynamically adjust according to the GOM or keep an eye on it and make periodic adjustments. Sure, they could make the exchange rate slightly favorable to them to garner some fair "commissions" -- but not ten-fold. Just a friendly suggestion. D. |
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Loki Pico
Registered User
Join date: 20 Jun 2003
Posts: 1,938
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09-09-2004 11:46
The exchange is unrealistic for anyone to use L$ to pay their tier for any lenght of time. It is not really in LL best interest.
I was thinking that it might be a good idea for LL to offer a sale on this option. Make it a bit cheaper to use L$ to pay tiers for a temporary lenght of time. It would drain some L$ from the economy and allow residents to save some US$ at Turnover, er, I mean Christmas.
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Damiel Ingersoll
Registered User
Join date: 3 Jan 2004
Posts: 18
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09-09-2004 11:56
Hi,
I can understand how it would not be in the Lindens best interest to allow easy usage of L$ to offset actual US$ revenue, but is a ten-fold difference overkill, unfair and a bit predatory?
Why offer the program then? Is it for those people who don't have the wherewithal to find and use GOM? If so, then they are really bilking those poor folks.
It would be a good-faith move by the Lindens to narrow the gap between their exchange and GOMs -- or, at the least, offer some education about GOM, IGE, etc. so people are aware of these options.
Perhaps widespread and well-educated knowledge about GOM and IGE will actually serve to increase activity on SL.
D.
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Loki Pico
Registered User
Join date: 20 Jun 2003
Posts: 1,938
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09-09-2004 12:03
I do agree that the fees are expensive, so much so many would never think of using it. I would be curious to see how many use their L$ to pay directly to LL for their tier. A lower rate would encourage it, but LL cant pay the real world bills with L$. I still think a sale on the pricing in November and December would be cool. LL does explain currency exchange in the "possibilities" of the "About Second Life" section of the website...(that section provides direct links to the vendors) From: someone Make Real Money
Did you ever think you'd be able to make real money in a virtual world? It's happening in Second Life right now!
Money that you earn in Second Life's in-world currency (Linden Dollars, L$) can be converted to cash on several third-party websites, such as Gaming Open Market or Internet Gaming Entertainment. Some of these operators offer convenient in world "ATM" machines to facilitate transactions.
What's a Linden Dollar worth? Take a quick look at the today's exchange rate between L$ and US$
In addition, every month Linden Lab awards cash Developer Incentives to the 25 most successful Residents in Second Life based on Dwell (the amount of time Residents spend visiting your land).
By re-investing some of the revenue from Second Life into the Developer Incentives program, Linden Lab hopes to encourage both user creativity and entrepreneurship.
How do Residents make Linden Dollars and draw crowds? In-world, malls and flea markets dot the landscape, a variety of contractors and consultants offer construction services, daily events run the gamut from Shakespearean Theatre to Sci-Fi Avatar contests to DJ dance parties.
All it takes is a single good idea -- millions of Linden Dollars change hands every month for the goods and services Residents provide. |