Who is this guy selling 8L at 7L/$1?

So, I was looking at the market data and I happen across this:


One guy selling 8 Lindens at the rate of 7L/$1. What the hell... guess he really needs the $1.14.

But makes me wonder... Who are these people listing Lindens and ridiculous rates. There are 38 people selling 10,637L at the rate of 1L/$1. You know that sale ain't gonna ever happen.

Why are they tying up their money like that?

If they don't mind just letting it sit there forever, why not do something useful with it. Like, say, give it to me?

Maybe they're using LindeX as a piggy bank -- I do that, too

I sometimes tie up a few thousand L$'s at a price that's not unreal, but at which price it probably won't sell soon. (Or if it will, that's not bad either.)

Because the L$ is out of my account, I won't spend it as easily Maybe I can save up for a bigger land, etc.

Works like a piggy bank

PS: Though I still keep my L$/US$ rates on the sell order very real, I wouldn't want to hurt anyone who doesn't know what's the real rate. But I keep it on the 'right side'.

Sure, be it just crazy wishful thinking, or attempting to play on people’s incompetence or ignorance and naivety, (and I’m inclined to think more of the latter happens)… people were putting ludicrous sell and buy orders out there on GOM, just as people put up crazy auctions on e-bay…

> Edit > Not to detract at all from what Zonax says above... Just the pessimist in me sees the real off-the wall prices as people putting out fishing lines for the people out there who um, are wearing a droolbib and...

Hehe, Zonax puts it much more nicely and appropriately than I was about to here, the people who don't understand the rate enough to know that they're getting screwed.

Because I feel like it..

I used to play an online browser game called The Prophet's Song. It had a cheaply-scripted market. There were lots of crazy transactions put up like "100 potions for 10,000,000 gold" which we all knew would never sell.

However, this was done because when a character died, he/she would come back to life with no equipped items, but a bug would preserve items earmarked for sale or trade.

Some people would try to counter this sort of thing by buying the items, then getting them banned from the safety of town, then attacking and killing them, thus getting their gold back.

In SL there isn't anything like this going on, of course, but I'm sure there's some form of bug abuse or perhaps feature abuse.

You just never know what MIGHT happen. It is extremely UNLIKELY that those orders will ever sell, sure. On the other hand, as long as the orders are there, it isn't outside the realm of POSSIBILITY.

What else is there to do with L$10,637? Can't hurt to park it there in case you hit a long shot. If the going rate shoots up to L$1 per dollar, you're first in line!

I've found earmarking money out to the lindex at low values tends to be a huge aide when working budgets for group accounts etc.. it allows money to be 'saved away' and out of the consideration for monthly budgets etc. It could be done without it, but it would involve alot more math than just running raw numbers every month and 'saving' surplusses earmarked for later days out to lindex

He heard that stripends were getting canceled and wanted to be the first in line at the new price point once the welfare wears off and the economy gets back to where it should be.

*opens 500 premium accounts to farm welfare and waits for her moment of glory selling it back to the capitalist dogs!*

Who was the person this morning selling 50K lindens for 299L per dollar? If I'm correct, he gave up 10 dollars and could've sold at perhaps 285L per dollar. This doesn't make any sense, are people that careless and think 299L is better than 285?

Hey,, I'll sell my block at whatever rate I want.

Pardon Me - but how did you see that information?

Well if you want to sell at a loss go right ahead.

Sell at a loss? Does your comment apply to those who didn't
sell at L$250? Considering that L$285-L$290 is the new valuation?
If they sell for L$290 and next month the price is L$300, did they
sell for less? Or get out in time? Its all relative...

And according to the theory of relativity, selling this commodity
now with a cronic history of going down means that I'm not selling
at a loss, but a profit.

Another Tuesday to dump Stipends.. All the sweet smell
of selling....

What I mean is if you did indeed sell at 299L you are wasting money instead of selling it at 285 or whatever it is currently.

Actually I know several people that I had to spend a great deal of time explaining why a lower number of lindens to the dollar is better for them as a seller. This concept is not at all obvious to more than a few people. It isn't carelessness; it's is not really understanding how the market works. Big difference in my op.