"LindeX" - Linden Currency Exchange Begins Public Testing

I like the 5.00 paypal fee. If they do remove it, hopefully there will be a delay on withdrawls. People need to learn to be patient when selling on the Lindex.

Why is the fee or a delay desirable? Please elaborate...

Well, if people don't expect that they'll get their USD immediately, they probably won't mind selling their L$ at the current market price rather than undercutting.

Ahh - yeah I see your point there. It helps keep the exchange rate healthy I suppose. I still don't think a $5 withdrawal fee is necessary for that though - and the main reason I think they have the fee is for the labor of manual processing. If they want to impose a delay mechanisim on withdrawals for market stability, I can deal with that. I would prefer to keep my $5 though.

I've added your L$ and US$ balances to the currency transaction history page and to the main account page.

Cheers,
Lawrence

I like chocolate pudding!

lol ok seriously, I do like the fact I don't have to wait for a pick up (lost 3 days of sleep this route last time), i do like the fact when it is sold i dont have to send it to paypal (+fees) or bank which can take a 2-5 business days, then have it sent back to the lindens for a bill. I know some people are worried for something bad to happen, but for people like me it is saving alot of time from having to go to a 3rd party seller/buyer if I am paying a game bill. 2-7 business days can be nerve wrecking.

I did sell some Lindens to test, I haven't ran into new or known issues. So I can only speak for myslef it seems to work. (so far)

Pudding anyone?

Perfect! Thank you Lawrence!

Yes please.

Lawrence,
two things:

1. you had earlier in this thread talked about a downloadable excel file (or simple tab/semi delimited text file, I don't care).

I would love to see this. Daily high, low, average, and volume over either a user-customizable time period or a set period like 4 weeks. For now, when do you think you'll get the historical market data functionality working? And how are you calculating your average trading price, btw? Is it volume-weighted over the 24 hour period or simply based on number of trades?



2. it may make sense for you to start an ongoing thread in the Announcements forum with your notes and comments, which you can update as things move along. This thread has gotten way too long for anyone to try and tackle.

I'd rather the last 24 hours worth of trades .. that would be compelling.

For those of who care, we could download it every day so they wouldn't have to stock up that much data.

And 200 trades zipped up, is probably about 1K.

we need a LindeX forum

Agreed

Subforum for this one. That would be useful, methinks.

I agree, I think its strange for this to be going on here...

Does anybody have good GOM statistics in excel or something, and able to plot a continuous graph (especially after another month or so) so we can see the overall trend across the exchange switch?

I predict that the $L will resume its downward trend as people discover LindeX. I am assuming that the sink changes will not sufficiently slow the money supply growth. I have to think there are a lot of referral bonuses going on too.

The free accounts have resulted in a real population explosion. I'm seeing real growth in the number of users online -- there's about 3000 online now, which seems like 50% more than a month ago at the same time of day.

Maybe a flood of freebienoobs will create demand for $L as they discover that they can buy a few $L to up their avies. I think it will be hard to sustain sufficient growth to hold up the exchange rate -- it just seems to me that there is a torrent of new $L being created, I can't believe the sinks can keep up.

Buster

I'll speak with Robin tomorrow about the possibility of a LindeX forum.

I just published a few cosmetic updates:
- no more 3D look to the Exchange Rate Availability Snapshot graph, minor y-axis scale change
- showing approx 2 standard deviations from the average on the 24 hour price graph
- minor y-axis scale change, and small performance optimization for the volume graph
- for high/low/average graph, now banding the averages by +/- 10 units on the y-axis, added clipping code for the high/low indicators... sometimes they're just going to go off the bounds of the graph
- updated the wording for the US$/L$1000 equivalent rate on the sell page... renamed the sell button to make things fit better

Cheers,
Lawrence

Lawrence, a suggestion:

function ld_format($number) {
	return str_replace("L$-","-L$","L$" . number_format($number,0));
}

Run that function over all the L$ values in the tables, big contiguous blocks look ugly. =p

i disagree vehemently

don't limit access to historical market data to those who have time to visit every day or who have the technical ability to automate some fetch script

we're not talking about a lot of data, just a text file. Go look at yahoo's historical stock quotes. We only need something like that. It doesn't have to be 6 months or a year of data, a rolling 4 week table would do.

My only comment: Please rethink the name

Firstly, it sounds like cleaning fluid. Secondly, what would Lindex say? Or even Lindex ? Could it be confused with the Lindex. Or with the Lindex ?

Call it Linden Labs Exchange, or LLX. This would allow you to even branch out to more then just currancy! You could add a land auction to go between residents, you could add a item auction, or even just add a resident store to it! Think of the big picture!

What's your proposal... lots of Lindens have similar thoughts about the name... but nobody has offered up alternatives.

Cheers,
Lawrence

Originally it had such a name... but folks made a compeling case for the exchange to have a single word moniker.

Cheers,
Lawrence

I'd propose you open a new thread or even have a competition and invite suggestions from residents. They're a pretty creative bunch when all is said and done

LLX? We have IGE, and GOM, why not LLX? Or better if you don't want the "Linden Labs" use "Second Life" then we have the SLX.

Daily quotes are boring. You can get that anywhere, what's new about that?

Trades would be fascinating. We'd have a port hole into a world we never get to see.

ummm except you can't get it anywhere, unless LL gives it to us.

trade information would be interesting to see as well, i agree