L$ Dropping Precipitously Again

This is gonna be sweet. The first $L crash. Not a burp, not a stumble, a crash.

The reason? People's unwillingness to be patient.

This freefall will continue until the currency sellers buck up and keep firm on their prices. Put all your "for sale" orders to something "normal" (3.95-4.02), and resist the urge to cash out early.

Otherwise, this time next week, the Linden dollar will be trading at $3.00 or below

Patience is a virtue, especially in currency markets.

I know I won't settle for anything less than $3.95. I'll be collecting my lindens til then.

LF

No, I want a panic, this is what the market needs. Scare out all the weak ones, and let me buy all their Lindens. Then in a few weeks when the market riases, I can cash out an make a killing! So to all of you out there, The sky IS falling, if you don't cash out now, you will lose everything! Sell your Lindens NOW!!! Sell it all before you lose even more money!!!!

*Sells all his Lindens then runs away and hides*

You're problem is, Dnate, I've sold, but I've decided never to buy back in as long as the rental market is ok. If enough of us do the same, you'll have to rely on the noobs to bring the price back up. But they may decide to rent too ! Gone (sadly) are the days when an owner enjoyed unique and desirable privileges. Without them, why own? Why ever need so many Lindens again ?

In my opinion that change, and the newly unlimited land supply, are at the root of this. What, oh what, is the Linden plan ?

Or are we really all just messing about until the new Vice President Finance arrives to sort it all out ?

All you of little faith. There are many things at work here. Renting does require some investment by the landlord. If the market keeps falling, what do you think will happen to the amount of L$ that will need to cover the basic costs? It will need to rise. When that happens, all of a sudden, the money you used to get every week will not be enough to pay your rent. That means to keep your rented land, you need to buy more lindens. True, some has converted to L$, but there will always be a demand for L$. I will be more the glad to buy anyone that wants to sell thier L$ to me for cheap.

You are perfectly right, of course - I was just trying to damp your ardor
Without anyone at the controls, what we get is indeed likely to be boom and bust. You may love it, but I can't be bothered with the ride for anything but a totally insignificant sum.

Partly because, of course we cannot even predict whether it will remain unpredictable.
The Lindens have total charge of everything, and can take any stabilising or destabilising action they like, any time. They might suddenly stabilise everything at $3.00. Or let it run the wild rollercoaster. We just can't know.

The only thing we do know is that we can't be certain of anything, not even uncertainty.

Ekk!...

Are you certain of that?

Every day I get ALMOST ready to start implementing some sort of partial fill/best price system over at the stock exchange, but then I look at GOM. Wow, $3.67. If we somehow had another 1,453 blocks traded today IN ADDITION to the 2,324 already traded, ALONG WITH NOBODY ELSE POSTING ANOTHER SELL ORDER TODAY, we could make it back to $3.77. Of course this partial recovery also assumes that NOBODY trading L$ in that period would be filling a buy order but ONLY filling sell orders. As an additional aside, IGE has followed the crashing market by moving their buy price to $3.70.

Wow. I'm usually cuatiously optimistic about L$ conversion ratios but this seems to be getting absolutely out of control. It looks like we are well on our way to much higher in-world prices. Fasten your seatbelts! I think that the only thing left to talk about now is if much higher in-world prices coupled with much cheaper L$ is ideal, because we seem to be well on our way to $2.00 and below.

Someone keeps doing things to make the crash seem less, last crash, the price went to $2.02, someone sold 1k for $75, and there wasn't a crash on the graph... Now, they did 1k for $3.25 to make the crash look not as bad, there's a double conspiracy here!

It actually looks more severe this time, as the price is staying down. The lowest transaction prices quoted last time were just someone filling a string of offers to buy one unit at one penny increments down to close to the two dollar point. Someone just sold off a few L$ units to make it appear more dramatic than it was. Now the left side has some substantial offers to buy, which are real resistance to a drop on that side.

Holy monkeys! 3.61!

ok now lets get back to the real issue this partial order filling......

you know ive read all the posts i could on this issue but we come back to the same thing that no one has mentioned.
most successful/stable economys have been built on the principal of supply and demand. LL has to my perspective slowed down the supply,not stopping it but slowing it a tad. I as a content creator have seen and futhermore felt this decline in my own pockets. People have less money...they buy less....allot less! If people have less money then there would inturn be a jump in how many are buying lindens.

yet if this is true... what are the sellers still selling low? If anything...these above causes in any economy woul send the value of the $ soring...why not here?

well we just cut off or noses to spite our face.
-Partial order filling(eliminating the supply and demand principle all together..if i bought, hell who gives a $hit if the one noob selling that low has a total unrealistic view of the economy....my pocket says its realistic enough for me)
-in doing this the casual buyer/seller is determining the market instead of working with it.
-what about those that cant afford to hold on to those lindens and wait...thats a luxury to some. Thus dictating what price they sell at

-in sumation....changing it from a buyers market to a sellers market overnight...
wow i find it interesting how a system trusted with an entire economic system can change so easily w/o descusion from the users that drive this system.
when LL mentions the SL economy it directly links to GOM,why, cause it is the economy, if you didnt know all prices refect its market value numbers/charts/graphs. So why would a change so drastic as the partial order feature not me votable or proposed even to the users that make it possible?.....If LL did some BS like this wed be screaming, protesting, boycotting even. Like LL a step like this trying to make it "easier to use" doesnt hurt anyone but us...not GOM, they get thier 3% anyway it goes. however what GOM does get to do is say to LL "look we made the system easier so plz dont run us out of bussiness."
what GOM fails to realize is that its not LL they have to worry about...its the users. Loosing the support of the users should be the main concern here.

do i use GOM in terms of buying and selling...no
am i still effected by this change?....almost instantly.
do i think LL should institue the inworld trading system over GOM....no
do i think that if GOM desides to drasically change a trusted system as it has that the people it effects should be consulted first?.....almost instantly!