Second Life Economy is Perfect

Thats right my young Padawans. The Second Life Economy
is churning along, just as it was planned by Linden Labs.

Every Tuesday, stipends are handed out like candy.
Adding to the overall money supply faster than any
sinks can take out. This is a wonderful benefit that
Linden Labs has given us.

Sure the Linden Dollar might go down the tubes, but
you'll always have your Tuesday Paycheck to use in-game.
And does LL really care about the value of the L$? As long
as you keep paying them US$ for land tiers, who cares
what happens with the L$.. King Phillip is getting the hookup
with Land Payments and New Land Sales. Linden Dollars?
They don't cost King Phillip one red nickel.

One more thing, ever notice how the L$ chart on LindenX
is upside down? The graph has a declining L$ going up and to
the right instead of down? Well I've decided to give this setup
a name. I'm calling it: The Stairway to Hell. Enjoy your L$,
cause Phillip is laughing all the way to the bank. Suckers...


Daily Summary:
Best buying rate: L$297 / US$1.00
Last trade: L$297 / US$1.00
Last close: L$297 / US$1.00
Change: L$0 / US$1.00
Today's volume: L$1,043,980
Today's open: L$297 / US$1.00
Today's high: L$298 / US$1.00
Today's low: L$296 / US$1.00
Today's average: L$296.24 / US$1.00

This tuesday thing conclusion is not right, it is about weekend, at weekends people buy more L$ and after weekend monday, tuesday, till next weekend seller count> buyer count. "Every Tuesday, stipends are handed out like candy." This is wrong. Look at this:
L$297 / US$1.00 !5! L$129,438 only 5 people is selling at L$297/1usd, if your conclusion was right we should see something like this:

L$297 / US$1.00 !581! L$129,438
It is about weekend not tuesday.

teh economy is teh kewl.

Somebody get me a beer. I'm enjoying the L$ fall.
It only confirms everything I've been saying...

Sorry RBD you've been rather upstaged today elsewhere. On the plus side, your arguments look a lot more rational by comparison

People are the cause of the problem not stipends etc. Add some Linden control to Lindex Max/Minimum value sort of thing. make people have to sell in at least 1k-2k blocks this way this prevents people from saying people are cashing out on stipends weekly as they can onyl do it bi-weekly or monthly. So say a max value of 125L - 1usd and a minimum value of 300L - 1 usd. it prevents the L from 1 going to low and 2 from going to high. It may also help stabalize if LL first slowly pushes down the minimum a bit and then raises it after the L is at a level that is fit in this case around the 250L mark. This idea is quite doable if they are willing to try it and wouldnt be massively hard to implement in any aspect. It helps control L to a degree while still allowing some leway for players to dictate some value of L. And it adds reaassurance that L can fall to far

445 !
I remember when you created this alt (i hope you enjoy your additional stipend), around january 2006.

One of your 1st post sounded like "OMG the sky is falling NOW!!".
Now you're at 445th post. i think we finally understood you, really.

Now please stop creating a new thread every day, thx.

hahahah... I've been upstaged? Damn. I've created a Monster.
I let Pandora out of the box and now look what happen. hahahaha

Silence Apprentice. Listen to the Master and you will be come
a Journeyman before the end of the year..

As long as i earn more money than you, i don't care of being the apprentice or the master

Feel free to take a seat at my in-game Lindex monitor at Baramdoli/6/105/66

It updates from the Lindex every five minutes, and there is a beer keg that hands out free beers.

Novel. I like it. Especially the beer.

Are you sure you might not consider renaming it a more appropriate name.

Like say...

...The Elevator to Hell?

Which was what again? Some virtual economy that doesn't matter blah blah blah. Who CARES about the economy? I sure don't. It's such a low rate, and people are worrying about like 85 cents worth of L in a week or something. I don't know, I spent five times that on coffee today, while I made real money at an actual job. 250L a week for stipend? Anyone who is worrying about one dollar in an entire week needs a serious reality check.

Hold on, I'll be right back...





Back. I just put a dollar into an M&M machine. Man, these are yummy. What were we talking about again? Oh yeah...

Any response about how someone is trying to make a living in SL will be met with a "Only silly folk try to make a living with play money" response, so save it. It's not insured, it isn't recognized as real money anywhere but on these boards and in SL (no banks, lending agencies etc). Wake up.

Meanwhile, when I was asked by a good friend to join SL, he claimed the progress of the user was driven by user creativity and community aspects. The L dollar is not indicitive of progress in SL to me, and hopefully, it never will be. I go inworld to meet people, go to events, build objects, and participate in what I think is the next level of information exchange and interaction. I don't care about free money, I buy L if I need it for a tiny amount of real money, just so I can buy a couple things/upload textures etc, and I just don't care if the L dollar rises or falls here and there. It just doesn't affect me (and thousands and thousands of other non money-grubbing users).

If you call me a socialist, I will point and laugh, as I am SO not a socialist.

Thanks for playing, though!

Repeat after me...

I am not a socialist...

I am not a socialist...

I am not a socialist

That is what all you Socialists say...

"Let me hear that dirty word --- socialism" - Bulworth, 2000.

Well, what about cutting off the stipends for a test period? Don't know for how long. If the capitalist wing here was right, the worst thing that can happen is that I stop buying LL because it gets too expensive to justify it for myself, and if they were wrong, and people start indeed downgrading, and all that, just switch it back, and the "socialists" have someone to humiliate and spit at...

This whole senseless talking has to stop, people involved in it start losing their credibility, and for a good part their dignity too.

I don't care enough about economy-drivel to make an educated guess how it will turn out, I just want to save people from themselves...that kind of a good person I am...

I've seen Castronova mentioned around here before, if you haven't read this, it seems a good jumping off point for discussion on this topic

From : On Virtual Economies

by Edward Castronova
http://www.gamestudies.org/0302/castronova/

"In economics, the value of objects does not depend on their characteristics or their components, but rather on their contribution to the well-being of the people who use them. Value is subjective, wholly created in the minds of people. If people in free markets determine that a shiny crystal called “diamond” is worth $100,000, economists basically accept the reality of that valuation. If the object in question is not a shiny crystal called “diamond” but is rather a magic sword called “Excalibur,” that exists only in an online game, economists would still put the value of the item at $100,000. Similarly, if people are willing to incur large time and money costs to live in a virtual world, economists will judge that location to be lucrative real estate, regardless of the fact that it exists only in cyberspace. The mere fact that the goods and spaces are digital, and are part of something that has been given the label "game," is irrelevant. Willingness to pay, to sacrifice time and effort, is the ultimate arbiter of significance when it comes to assessments of economic value.[3] As avatar games consume more human time, the assets within them will very likely grow in value; understanding how these assets are produced and traded will ultimately require a unique theory of the demand for avatar gaming."

and...
"Game time is a substitute for other consumption goods, and it is also a substitute for work time. The degree to which this substitution occurs depends on wages and prices both on Earth and inside the games. It also depends on the emotional satisfactions and general costs of game time. In the most radical approach to game/ work substitution, the emotional satisfactions of Earth work are directly compared to the emotional satisfactions of game time. These Earth/ game substitutions involve real economic transfers. It has already been shown (Castronova, 2001a) that labour devoted to games produces durable economic assets with observable market values. The wealth stock and annual production of a game world is already significant on a per capita basis; they will become significant macroeconomic aggregates if the stream of Earth to game substitution becomes strong. And we can gauge the potential strength of substitutions into gaming by asking how satisfying and costly game time may possibly become in the future."

What is not mentioned is the role of the company that is running the service as anything other than a despotic group of executives surrounded by syncophantic players.

Unless Second Life or a derivitive began allowing locally hosted distributed network architecture, the EULA is The EULA.

Back to the olive tree for me...

I'm not complaining about the L$ value but...
I know some casino with a wallet of more than 4 million L$.
My casino keep 2 million L$, because of the 600,000L$ jackpot. (<spam>VERTIGO PRO GAMER</spam>
In january the L$ was around 270, now it's near than 295~300 ...
so, with 2 millions, it's a ~700US$ difference, and i highly doubt you spent 700US$ of coffee since january...

Some ppl are complaining about the stipend, not because of the US$ value of the stipend. But they think it's the major cause of the L$ inflation/devaluation/whatever/...



Anyone who is worrying about posting in the forum needs seriously to read a few thread.
I mean... "TEH PROBLEM" is explained twice a day by RBD, and you still don't understand what do we talk about ? doh ...

Ed is God... Linden Labs even offered him a job and he turned
them down. Guess he also could see the writing on the wall.
That SL's Socialist Economy was just going to become another
Mudflation statistic...