WARNING,WARNING, stop selling at the market now

Hmmm, I see, didn't even make the probationary period? Either that or it was an unfeasibly short contract.

Here's a tip. The next 'economist' you hire, make it a condition that BEFORE taking up their position they join SL as a non-Linden basic member for a minimum of 6 weeks, logging in a minimum of 40 hours a week, and finance their SL from their pocket. No rule bending or exceptions - they have to experience SL as a resident.

That way they might stand a chance of 'getting it'... Which Vasudha very obviously didn't.

here's my opioion about SL economy.

personally speaking , I am not a pro-businessman in SL, doing small business only.

and sometimes i thow my eyes into the states of sl economy,looking for a chance to make big money.hehe.

well ,
as a game ,once people build up its own currency system,then as we know ,there'll be a rate for the cash to trans to rl money ( game cash exchange is normal now).
as WOW,EVE,GW and so on. now ,let's talk about something else before we continue it.

the gold price of FFXI , two years ago , when FFXI was realesed , if i donot mistake , it went up to 120 usd/1000k at least.then it kept dropping down , players growing , farmers growing
sell order became more than buy order.so what you see now is that FFXI gold floods the market. btw ,selling FFXI cash is against the rules of FFXI , that's another thing i donot want to talk about it here.

okey , let's back to the topic.

though SL is different from FFXI , two kinds of mmorpg games. anyway they are games, so it's out of reallife , (who knows what a rl is exactly, haha),people donot have to spend money here .they do it when they want it only.

more, there's no stand exchange rate for game cash , the Social system and Currency system are quite different from reallife.

people want LL set a limit for ls rate , sure it will works for a while, but as long as we go,
more problems will turn out too.

and if you guys donot mind , if i am a trader , i'd like to throw tons of ls into market everyday till the economy crash, haha. it sucks , hehe , just a jk.

SL is my dream , and my soul is here, my home is here . but i donot have to live here as long as my life. just imagine that i am a poor people ,i have no money ,no house , no family ,no company, nothing except myself i own in the world , well, do you think i'll live in SL? no, i canot . and among all the people living on earth , not all of us are playing SL . you see the number of players is more than 20k , well , many people own alts now. so how do you think about the real number of players in SL?

more :

1, classic fileds , what i know about classic fields in SL now: you can set it at anytime you wish, you donot need to pay high before, now if you pay highest price , you can be listed at the highest position. so what do we think about a classic field? it means nothing now.
personal opinion , classic fields should be voted out by players.and announced by LL only.

players have no rights to announce their places are classic fields.

2 ,the duel, a problem players discuss lots of times . duel canot be adjusted by campers mostly . well, camping is another thing ,let's disuss it late. it's not against me , hehe.
how do we adjust a place pop or not in rl?

3,people can creat eveything here in SL , yeah , awesome , i love it, i spend most of my time in sl on building. so if i can make what i want , i donot need to buy them.

donot mistake me here , i donot mean i want Ll to cancel this , sure they willnot do it too. if they do, i'll leave SL at once , haha. i just want to remaind you about this.
4, land , land is not limited , in january , about 400+ sims were added . canot remember the exact numbers now, i was planing to do land business at that time, so i checked it every day. so, open your map now please, check the lands on sale, haha , it sucks , really.

okey , get rl work to do now ,

so you see , i have to leave now .

i'll kick out my next post later when i am back , cya, guys , haha

This is about the third time I've seen someone mention this. Is there a problem where people's browsers don't display what you will be getting in $L or US$, displayed live right under the box where you type in what you're trading and for how much, which changes/updates as you change your number? In FireFox browsers, I can see righ away what I will be getting, even before pressing the "Sell" or "Buy" button (fees included).

well, now comtinue my post

there are lots of problems here, well, i am tired to mention them here again.
let's talk about something about economy of SL else.

i have thowed out a new topic

Is SL Linden Lab's own world or Players' world?.
okey,

let's see:

1, what's the stand that LL build the economy in SL based?

2,what 's LL's exact role should be here?

3,what we are doing in SL?

4,who control the future of SL ?

5, importantest : Is SL Linden Lab's own world or Players' world?.

.........................................................

okey, that's all ,

This is about the bazillionth time I've seen someone mention this.
But that was not what I was talking about. I actually mentioned exactly this point in my post you are commenting on.Rasah, I am not begrudging you the fun of doing a little day trading. I would just like to see that your "business partner" in the game is as well informed about the deal as you.

How about stating in red letters to someone trying to sell 50,000L$ with the estimated proceeds:

US$137.08 This is the amount you can expect by placing an unlimited sell order. If you take the time to limit the order you can expect an amount of US$144.89

If he still does the deal after seeing this fact clearly stated, I would say "fair deal".

I wonder how many would be still willing to buy this generous service of "liquidity", you are offering, though.

Jin Gupte is that you?

no, i am not him/her , i am Uranus Barrett.

the big bad people in SL, haha

Sorry, it just seemed as if people were not realizing how much money they would be trading, as if they couldn't see the number showing up right under the box they were typing in. Hell, first guy complaining on here even did his own calculations before going to Lindex, and was surprised that after he typed in his transaction (with the numbers showing under the box), went through a login page to a confirmation page (where it said what he was selling, and how much he was getting), and clicked confirm, he got ripped off. I agree, better explanations are needed, but from the way some people have been posting on this it's as if either their browsers are borked (or the sl.com script is borked) or they're blind...

Although one thing, the redletters shouldn't say "expect," they should say "this is how much you MIGHT get if you are really lucky, but chances are probably won't." The service of liquidity is curently paying almost nothing. The loss of money for small noob transactions is almost nothing at all (a few pennies). I don't see noobs loosing out on this when their choices are loose $0.50US or sit for over a day trying to sell, with a high chance of not being able to since the rates are going up apparently $4l a day.

There is a little thing that comes up and shows the total amount that will be paid for the L$. For example it will say:

L50,000 .... $121.00

The trick is, as someone accurately pointed out, people aren't in the habit of whipping out their calculators and seeing what deal this is. Since the Market Sell was a brand new thing and Linden Lab presented it as being a good way to sell (obviously they must think so to place it as the ONLY option on the BASIC listing)... people just took it for granted the price was a good one. It wasn't until after I sold that I realized I just got ripped for almost 100L per dollar.

What they need in addition to the above is a cost-per-dollar listing, ie:

L50,000... $120.00 which equates to 413L / $1.

That would stop a lot of confusion right there. That's what people are talking about. Make SURE the customer knows what they're doing before they do it. Otherwise here's what happens:I don't know exactly what LL had in mind when they put this together, but all the indicators point to shady dealing (whether that was the case or not, that's the impression it gives). Consider:
* This was placed as the only option in BASIC, replacing the regular sell.
* Even the advanced listing had extremely poor and misleading documentation.
* Linden Lab had plenty of opportunity to test such a system before releasing it to the public. Are we to understand they had no clue this would happen? That would be almost as bad as intending for it to happen.

So this is what people are up in arms about. It's another example of poor conception and poor implementation. Now me, I want to help LL all I can and it seems that they're at least paying attention to the ton of complaints that are coming in about this. So they might do something to make it better. But if it were me, I'd have fixed the problem with the very first complaint that came in (which basically would have entailed having a quick meeting and then posting a disclaimer on a web page. Simple stop-gap solution, then think about a more permanent solution as schedule allows... although in this case the simple solution will probably hold).

Please give us a break, Rasah. You can not boast in one post how much money you already made and lament in another how little profit is in the game. Forgive me, please, of course you can, but it sounds a little bit ... hmmmm ...

The example I used was one with current current numbers I took right off the LindeX sell page. The second number I quoted was simply the result of using a limit a little above the currently best selling price. There hasn't been a situation in the last few weeks - outside the early morning panics - where a measly sum of 50,000 L$ could not be sold 1L$ or 2L$ above current market in the course of a few minutes. We are not talking Anshe's million L$ offers here. Even they were selling fine 5L$ - 10L$ above market.

Yes, I can. The profits on $300US trades were $8.50, then $8, then $5, then a bunch of $3, and now about $2 to $2.5 if you're lucky. The split between buy and sell is around $0 to less than that most of the time now that more people have gotten into the buy orders.
Also, even at the enormous margins that give me $8 profit, that's on $300. Most people don't buy $300 worth of L$, most get about $4 to $5 worth, where the difference is something like $4.75 to $5.25 depending on which option they choose. If I saw selling or buying those ammounts, I wouldn't care about the difference and use the instant options. And yes, you're right, small ammounts tend to fly off the market really quickly, but there is still guessing involved, especially with the apparently now even worse inflation, and I till don't think the difference in real USD for the otpions is all that much.

The problem with the day traders is they just want to make a quick buck and dump the L they buy right back on the regular market driving down the value of the L. We don't need to worry about stipends or dwell anymore because we have this and its driving down the value of the L faster then anything else ever has. There is no end in sight as to how low the value of the L will be driven as all they need to do to compensate is raise their "buy prices". Sure the value of the L has been slowly dropping but nothing like it has been dropping since limit buy was implimented.

If any of you day traders own property, I would suggest you set aside your sales figures you made from day trading and take a look at how much the value of your real estate dropped due to your driving the value of the L down by 30 points. Don't forget to look at the value of any goods you sell and how much less you actually are making from them too.

Take all that and subtract it from your day trading profits and I think you will find that you lost money. You think you are making money but you are just taking it out of your back pocket and putting it in your front and when you reach into that back pocket to get the money you think you had, its not gonna be there.

Rasah, this is a fruitless discussion. In one post you are boasting about 10% profit per day or week (I lost track). In the next your are telling us, how little money you are making of it.

Nobody is denying you the right to make a profit in the day trading game. Just don't try to sell it as a public service, OK?

Hmmm ... I am just wondering. But maybe I better not spell it out.

Day traders end up ondercutting on both sell orders and buy orders. Result is a margin that gives near $0 profit, and Sells and Buys moving parallel to each other. Each increase in inflation also decreases the profit off the same margin (330S to 350B makes less than 320S to 340B). All day trading does is speed things up to where they are in their "neutral" position, and eventually when that neutral is hit, it won't be worth it for day traders to trade any more. I'm actually seeing it getting there REALLY fast myself, and will probabl drop it as soon as my last buy order is complete (which has been filled yesterday evening, and is yet to go through, so it's not a quick buck, either). If you check the graphs, you'll also note that throughout most of the day, this buy sell order thing tends to keep prices fairly level. Did so yesterday, before yesterday, and is doing it again today. Most of the inflation tends to happen late in the evening when people go to sleep, while others undercut them with small ammounts. Note the $336 market price that the market closed at last night was mostly single orders of $100k or so, at every level between $332 and $336. That;s all gone by noon the next day, with the prices being back down to $330 to $333, but the inflation is still there (not huge though).

As I said, profits dropped. On that one day this was new. Now it's not and competition is up. Easy as that. It's a service where I exchange my time for your money. You do this every time your credit card charges you interest as well. It's their time for your money.
And feel free to say whatever you want.

As I said, Rasah: It is fruitless. Have fun!

When I first reported the problem as I saw it with the Currency Market and the new Limit Buy and Market Sell orders, I was unaware of the problem with the basic interface that was brought up by eltee Statosky. Thank you eltee for the insight. It would seem that many people have gotten the word about switching from the basic to advanced interface so they can sell their L$ with limit sell orders. Please tell youf friends about this change if you haven't already. Finally eltee has asked LL to rectify this oversight so the new players can see their best option in selling L$ instead of their fastest option. I have yet to see an anwer and am eagerly awaiting one.

The switch from market sell to limit sell has significantly reduced the volume of L$ being first sold to limit buyers and resold to market buyers. The volume of recycled L$ seems to have trailed off and the currency market appears to be settling into a stable trading range. I don't see the L$2 million being removed every two days from the limit buy orders.

Now some really good news. On 23 May when I took my 11:00 PM market data there was $94,665 worth of L$ being offered at L$280/1 and above while the highest exchange rate was L$323/1. On 24 May when I took the same data there was $93,353 worth of L$ being offered at L$280/1 and above while the highest exchange rate was L$327/1. By 25 May that number had shrunk to $89,722 worth of L$ being offered at L$280/1 and above while the highest exchange rate was L$336/1. Ok wise guy why is this good news? It isn't but what happened on 26 May is good news. When the 11:00 PM data was analyzed it was discovered that there was only $82,456 worth of L$ being offered at L$280/1 and above while the highest exchange rate was L$331/1. That indicates a drop in the exchange rate for the first time since the limit buy orders were instituted.

How will this weekend fare in the currency market? I am confident that the trend in volume of USD into the LindeX will continue to increase at least though Saturday and begin to taper off some on Sunday. The volume for the last 4 days has been a steady increase of $33,920, $34,008, $40,125, and $40,574. This is on days when the peak population ingame was 6986 on 23 May, 6528 on 24 May, 6609 on 25 May, and 6530 on 26 May. That's right the population has trended down while the Lindex USD volume has steadily gone up. How can this be? easy, you don't have to be ingame to trade the LindeX and it would appear more and more people are playing the LindeX Currency Game. Don't get mad at them as more and more play the competition on the limit buy side could be as fierce as on the limit sell side. It wont be long term but can be for short periods of time.

Examined the data presented but don't agree with the findings. The L$ market is showing a contining devaluation cycle that doesn't appear to have an end. In the last 2 weeks the L$ has gone from L315 to L336 in trading. It really does no good to talk about "L$ traded above 280" because that 280 figure (or 290 or 310) is totally out of the picture when buyers can buy for 336.

The only thing that will stop that is when buyers start buying enough quantity that it reduces the high L$ sales and starts cutting down into the lower offerings-- which is unlikely to happen because LL keeps flooding the market with millions of new L$ every week.

Alternately, sellers could just get sick and tired of getting so little for their L$ that they refuse to sell. But there is always going to be someone willing to sell at a higher conversion to make the sale now (they have to... they have bills to pay).

So this devaluation trend seems to be continuing and to be truthful, I don't think the new Market Sell system is going to do anything to stop that. All it's done so far that I can see is really tick off clients who were snookered into selling L$ at a price far below what they'd have been willing to sell (primarily due to very poor presentation and documentation on the part of LL).

/bump, add my support to this

/130/c8/110945/1.html