"LindeX" - Linden Currency Exchange Begins Public Testing

One question...will private island fees also be taken from our $US balance? Or is that still separate?

Please read the dates at the bottom of the graph carefully.

Cheers,
Lawrence

Yes, but they're probably a few days out... however I'm going to try to make some of the market data downloadable before then so that you can construct what ever graphs please you.

Cheers,
Lawrence

Can we get a buy L$ button at the bottom of the client? Say, between IM and CHAT

I have to admit, so far so good. Liquidity does not seem to be an issue.

We're working on a client interface for buy L$ right now... It won't make the first 1.7 release, but I'm hoping we can get it finished up not too long after that. No promises at this point though.

Cheers,
Lawrence

Yes the private island fees should pull first from your US$ balance before billing your credit card/paypal.

Cheers,
Peter

Please check your PMs.

Thanks,
Lawrence

Um, ok.

Made ya look! ha ha ha!

(I assumed that the last chart included "so far today", like GOM and stock sites I watch, silly me.)

Buster

I actually had this same conversation with someone at work earlier today... obviously folks are expecting to see today's values on the volume and price history graphs. I'll take that into consideration as I update the graphs. I'm very strongly considering adding a volume graph to go under the "last 24 hours" graph. There are several other good suggestions that Robin has received for various graph and stat improvements that I'd like to incorporate as well.

Cheers,
Lawrence

I think what you have already is more than sufficient, personally.

The downloadable trading information would be really really cool though.

I know it's probably too much to ask, but if you could do a daily dump into a file which gets zipped up with all the trades over the last 24 hours that would be sooooo cool.

ReallyRick...I thought I was the only one that was asked to remove a post...did you get a phone call too? LMAO!

Side note for those looking to sell larger quanities as a representative of Gamerzfix.com we do buy and sell regardless of linden age and allow the purchasing and selling of larger blocks. We are revamping our buying/selling system to one we felt GOM should of had to help the growth of the L. Expect a lot of new and big things very soon from Gamerzfix.com Tasia I loved your orginal post wait um what post?

Hi Lawrence,

I have a question I want to confirm, you may have covered this somewhere in this string, but I don't want to read them all right now lol.

If the $L you sell off the LindeX is credited to your account, and say you don't want to send it to pay pal or have a check mailed, but instead use that toward your Land and Sim payment can we do it this way?

1. it would save me a paypal fee since it would go back to LL anyways.
2. would or could it be automatic?
3. would this credit be only for land tier and island fees? or could this be used towards monthly membership fee's too... errr or all the above.

I have a Linden Bill coming up soon and would like to know the fastest way to pay for some of it. Because if I could pay for it with credit that would save me alot of time and hassle since some would go back to LL anyways.

Kat I can answer this one.

When LL pay DI awards they are automatically credited to your SL account. Money raised from sales on LindeX will be credited the same way.

When LL bills you for land tier or monthly membership or sim maintainance, they first use any credit in your account then bill the remainder direct to your CC.

I wonder if anything can be done about the outliers that skew the graphs. The effect of outliers is to make the graphs almost useless.

Like the 500,000 trade on the 1st, or the 330 trade yesterday.

Buster

Just ignore any point with a std.dev greater than 3.0; should solve that problem.

-Adam

Some suggestions for LindeX:

When my sell order gets filled, I should get an email saying it was filled.

Also, why do I have to keep logging in whenever I make or change any transaction? For example, if I place a sell order, I am redirected to the login page. I enter my name and password, then finish placing my sell order. After that, if I decide to cancel the order, as soon as I hit cancel, again I have to login. I should be cookied for this session and not have to keep logging in for every single transaction I make.

Other than that, good job so far!

Any chance we can have the amount of US$ credited to our account displayed in our 'account history' s'il vous plait? All that's displayed at the moment is the order number.

I can tell you that I REALLY miss GOM's "Sell Now" feature that LindeX lacks (unless I missed it). I don't like the idea of my exchange being in limbo for an extended time. I'm not looking to play the market or fill orders, I just want a little extra on the side. Having to wait makes it irritating to use.

But I'm guessing with it being so new, there aren't many buy orders yet?

I think that might possibly be #1 best feature of Lindex, actually.

It's too early to tell, of course, but Philip and Peter may be getting a lot of kudos if this continues to work.

I actually have come to love the login feature on sales. I hope they don't get rid of that.

To be honest, it's all good .. IF it continues to work as it is.

The L$ value has risen and I suspect most buyers don't even know about it yet. I'd be very very hesitant about making any changes here on out.

Unless of course the L$ resumes a downward trend. If that happens, well, back to the drawing board.

Just a quick note, I'll reply to your recent posting a bit later this afternoon...

A couple hours ago I published a few updates:
- a change to speed up and increase reliability of getting L$ balance updates to the viewer. In my testing this had made a huge difference. Now I'm seeing my L$ balance updated in-world just as soon as the website displays the transaction completed pages.
- improved the error message for when a transaction would take you over your limit... there's still some additional room for improvement in the messaging, but other currency exchange tasks are going to take priority
- add a little more info on https://secondlife.com/currency/ page about balance updates, and removed the market hours info since the market is now open 24/7

Cheers,
Lawrence

But why has it risen? Is that not the real question? I hae notice that the volume of L$ is about half of what GOM used to be. I have also noticed that there are a lot less open sell orders then were before GOM closed. I think that right now 2 things are happening. Many sellers cashed out before GOM closed, that is why there was that huge spike in volume the days before they closed. Many people don't understand or even know about the ablity to sell on LLX, so the number of sellers is down. There is also at least one big seller that has not placed a large amount back onto the market. All of these factor come into play with the market being higher now. Wait a month, and I think we will find we are not much better of then before.

I think that other steps that LL has taken are also about to start filtering into the market. The reduction of the rate bonus and the new free accounts are all going to be accountable for the changing market. I don't think that LL has found the balanced economy yet, but they are getting close.

It is the real question, and it's a rather intriguing one.



Well, that's to be expected, it's growing pretty fast though.

Once we get a button at the bottom of the client and the MOTD message points, I suspect the volume will probably roughly match GOM, maybe a tad lower because of daily limits and lack of day traders trading with each other.



Daily limits, lack of traders, plus GOM accumulated a lot of money over time. And how knows. Maybe some scammers were using GOM to dump their L$ but are afraid of SL and don't dare try selling on the lindex.




I don't see that .. if that were the case, the GOM market should have seriously dropped. Perhaps Anshe took up the slack, but I'd find that to be surprising.



I think anyone who sells L$ seriously knows about Lindex. It would be their business to know about lindex. Not so with buyers. There's no ROI in buying from lindex for buyers, so they dont' make it their business to know about it.



True.. I wonder how the daily limits work. Can you not have more than X for sale on one day or can you accumulate over time?



True.



Well, let's wait and see. It's all very fascinating though, I have to admit that.

I'm liking the Lindex so far. Its very convenient to not even have to log into SL to sell Lindens. I don't play the trade market or anything but for my purposes it works fine.

My only requests:

- I really hope the $5.00 PayPal withdrawal fee is reduced significantly or removed. It might not matter for big-time traders and businesses who are cashing out $100s or $1000s each withdrawal transaction, but if I'm only withdrawing like $50 that $5 is quite a dent in that. I know you are working on automating that which will reduce the fee, I just hope it comes out much much lower or is removed.

- Please display our $US balance somewhere on our account other than in the buy / sell pages. It just seems non-intuitive and kludgy to have to look at the buy / sell just for that info.

Thanks for the work on this Lawrence!