Lindex: 2000 per month limit? Wasn't that 2000 per day before?

Maybe my memory is fuzzy, but I thought it was 2000 per day before.

Any land barons going to find this to be a problem?

This will push a lot of business into SLExchange, I think, if it stays like this and people will fill up their 2000 quota by doing arbitrage between the two indexes.

I mean - why not? It's free money

If it does stay like this, all I can say is - Silly Silly Silly GOM.

I mean OUCH.

who the hell trades more than $2000 US a month?

Well, it's not that hard to sell more than 2000 USD per month on content alone, but the obvious case is anyone who sells land, converts it into USD, and then buys more land with that.

Well, I guess you can spread it over alt accounts. That's like 10K per household, I suppose that's not so bad..

Im probably wrong but i think it was like the old gom limit of 250$ per day, now you can put 2000$ up in a day and not sell anything for the rest of the month and not have to spread it out if your making that much of a profit.

There was a deposit limit of 250$ a day at GOM, but I can't imagine GOM posting any kind of trading limit. Their business model was about volume.

In fact their tier system was all about rewarding people for trading more on a monthly basis.

Correct me if I am wrong about something, though.

It was a limit of USD$1000 a day. Now it's USD$2000 a month? Seems rather odd. I think this limit will restrict a lot of people unless its a typo for 'day'.

Yes these were the old limits

During the testing period Residents whose accounts are less than 45 days old will be restricted to:

* purchasing no more than US$20 worth of L$ per day and US$40 worth of L$ per month
* can't sell L$

During the testing period Residents whose accounts are 45 days old or older will be restricted to:

* purchasing no more than US$250 worth of L$ per day
* selling/posting no more than US$1000 worth of L$ per day

This limit effectively went from US$30,000/month to US$2,000/month, that's 6.66% of what it used to be. A 93.33% decrease.

I dunno, it will either

a) force people to do business with slexchange
b) people will just split it over ALT accounts

I'm trying to clarify if we're allowed to do b.

Thanks, Blaze.

I'm personally thankful beyond words that we pulled out prior to the release of 1.7. I have a *ton* of criticisms (generally constructive) that I could post about the way LL's exchange has shaped up and, yes, we absolutely could have provided superior service and features to what Lindex is offering and given them a run for their money (assuming our account balance or L$ dispensor objects didn't happen to vanish into the asset server void in the meantime).

Given the abundance of asset failures, lag, and communication issues that have cropped up, it's clear that SL is still effectively a toy, and is just not in a state to support a business to the standards we would expect. And that's not sour grapes -- it's just the way it is. If they're eventually able to get their system acceptably stable, then we may be back. Provided their TOS is revised such that they take even the modest amount of responsibility for user content that a $9.95-per-month web hosting is willing to.....

Well, lindex serves the master that is LindenLabs.

The recent limit change is very interesting and personally rather alarming.

Are they trying to put an upper limit on how much business people are supposed to be doing in SL?

Has SL decided to be unfriendly to people who are doing more than 2K per month in gross revenue?

I suspect SLExchange will provide an out here, however, there are a lot of things they could do to make life very difficult for SLExchange / IGE.

I mean - look what they did to GOM? Clearly they have no qualms to **** anyone over they care to.

While I remain blinded in hope that this was meerly a typo on the currency page it does send some very mixed signals. Linden Labs spends a lot of time marketing the economy of SecondLife and how you can make money from it. But limiting exchange to US$2000/month sends a mixed message saying that "Yes you can make money in SecondLife, but no more than US$2000/month so don't depend on it." I think this will hurt a lot of content developers that have been depending on it. There are alternatives, but will the consumers who buy the L$ use those alternatives?

If I am correct and it is meerly a typo, there should really be a proofreading/review system in place before things like this are posted which particularly on a Friday night could send the market into a panic for the whole weekend until corrected.

I had an IM conversation with Lawrence, and he said it wasn't a typo.

I think it is LL trying to control the price of the L$. By placing limits on selling, they can keep people from dumping on the market and depressing it. Anyone that buys and sells sims, the content makers, the island owners, and all the other big money makers are now forced to stop the selling after just 2k. 2k is only 500kl$ or so, not that much at all. If they can't sell, LL figures they will just hold it to next month, thus allowing the price to remain higher then the true market value. Once other exchanges get into the picture, with out these limits, we will see the market continue on the downward trend we were seeing before.

Yeah, that's exactly my theory.

However, LL can shut out the other exchanges if this is their policy. It's not that hard to make life difficult for people when you write the code.

These limits will drive the bigger sellers to thirdy party exchanges, which will dump the L$ in ways out of LL's control, causing a downward shift on the market since they're unable to sell on LindeX, once the buyers realize they can buy L$ in bulk cheaper they too will leave LindeX. These limits hurt the market!

LL could make it impossible for other exchanges to operate, it would be trivial.

Just say that 3rd party buying/selling of L$ is against the TOS and why would anyone risk it?

No, because we will tune the limits as necessary to make that they meet people's needs to the maximum extent that is possible while still affording an appropriate amount of risk mitigation for Linden Lab.

Also there are additional exchange limits tiers not described on that page. If you find that the LindeX limits aren't meeting your needs, then please contact us, and we'll evaluate bumping you into one of our currency trader or business owner tiers.

I would love to spell out exact criteria here, but the truth is that I want us to retain the flexibility to accomodate any reasonable request and not box ourselves into criteria that may only make sense for a small percentage of the residents. The basic things we'll be looking for are 1) existing LindeX usage near the limits 2) a demostrated ability to properly fund your US$ transactions with Linden Lab.

The currency trader tiers feature increased symetric buy and sell limits.

The business owner tiers feature slightly incresed buy limits, and dramatically increased sell limits.

Cheers,
Lawrence

Quite a few people.

Cheers,
Lawrence

Excellent.

Ok, well, we need to know if we can get into that tier BEFORE we invest all the time and effort to get into that tier.

What if we go to all this work that gets us into the tier and then you say "uh no, we don't like your business model it doesn't suit our purposes"?

Or what if you change your mind?

Then all that work we went to was meaningless and we are screwed because of some weird idea you might have about what we're trying to do

Give us clear, transparent fair rules so we know what to expect, or you can expect us not to do anything.

so first they strangulate GOm, then once GOm is dead they strangulate the sellers?

good good continue this way

contact us? which email addy should we be sending this request to?

i would really prefer not to create and juggle alt accounts and besides, doesn't that just make this a wasted effort to control how much people can trade?

eh anyways, thanks for any response

Secret tier structures.....muwahahahahahaha.