"LindeX" - Linden Currency Exchange Begins Public Testing

You can get that from yahoo, and practically any forex site. These are trends and patterns we have already have access to. We learn nothing new.

You can also pretty much get it from SL as well - just click 90 days.

Let's be innovative here. Getting the trade data will be something people will write about in articles and the press.

Quote data will be like, yah so?

what are you talking about blaze? No FX site carries Linden dollar information. They do have historical pricing information because it's useful. We should have it because it's useful. You click on 90 days and all I see is a chart, which I can't analyze further.

Not arguing with you on trade info. That is interesting too. It's the kind of useful information traders with RL market makers get to see, although the average joe does not.

I like LLX.

How about LEX?. It works as both a single word / name / syllable and also as initials for Linden Exchange.

Keep it up, Forseti, maybe we'll all get lucky and all they do is give us daily quote information.

As an avid Superman fan, the last person I want handling my money is Lex Luthor!

You might want to fix the trades graph, the data has fallen right off the graph!

Not a avid superman fan, but isn't lex a selfmade miljonaire. You would think you can thrust him with your money. Just don't give him some kryptonite.

Well, according to smallville he's just the bosses son.

Actually, he's now a former president who is leading a group of evil supervillians, but anyway...

I'd trust his with his money, but not someone else's money!

you seem to be getting confused between the concept of AND versus OR

Trade data would have quote data as well, though.

You can just sift through it and pull it out with things like select max(quote) from data where date=tuesday or something

I really just think we shouldn't be sending mixed messages here because I think the trade data would be very very cool (preferably with time stamps as well).

I am pretty sure anyone who is actually going to use the data seriously wants trade info over and above quote data and I'm worried that LL might get the impression that is not the case.

Complete BS. I never had to pay any fees when sending or receiving a payment from PayPal. $10 for a check, when I'm probably only selling less than $10 worth of L$? What a crock.

Either that or they are trying to make us keep our U$D balance kept online so users can later use it to pay for their land ownership fees every month. If this is the case, they will probably charge you to USE your own money to pay for that. Worse than getting screwed by Wells Fargo Bank.

At it looks like my trading days are over since this service is trying to gouge everyone out of every little transaction. In stead I'll sell directly to people via pay-pal, or trade it for Therebucks, which in turn I sell that directly to users via pay-pal.

It's not our interntion to use fees as a barrier to cashing out, they're there mostly to cover our costs. Right now check and Paypal processing is a completely manual and expensive process. We're working on automating Paypal processing, and as soon as that is complete we'll lower the Paypal fee.

Cheers,
Lawrence

Lower it to $0 maybe? Since if you use the Mass Payment feature it will cost sender or receiver nothing?

Yesterday was my first exchange on LindeX, and I'm pleasantly surprised at how painless and quick it was. Everything sold same-day, for a decent rate, and was in my PayPal account by 10am today, even though I sent the withdrawl request well after business hours last night.

Once the withdrawl requests are automated and those fees lowered, I think it will be great.

I see this info on the Paypal site:
"
Competitive pricing
A low fee of 2.0% of the payment amount with a cap of $1.00 USD (or its equivalent in the payment currency) is assessed on each payment made with Mass Payment.
"

If you know how to legitimately get this service for free, please let me know!

Cheers,
Lawrence

Heh, the cap at USD$1.0 is the killer part of that, if your exchanging $500 worth, then that 2.0% becomes nearly nothing.

-Adam

Yes, on $500 .. $1 is 1/5 of a percent or 0.2%

Much better than the 2.9% I was paying on GOM.

BTW, 2% on $10 is 20 cents .. hopefully people won't find that to be too painful.

Great job, Lawrence. Going by the value of the L$, Lindex is a clear winner.

I still want to know if it's possible to get notified when a sell order is filled.

That's pretty high on my todo list.

Cheers,
Lawrence

Lawrence, pending code complete, I think you should call people when sell orders are executed. My cell phone number is 954-555-1212. Please give me a ring as my orders are filled. You can leave a voice mail if I don't answer.

Buster

P.S. how about adding the $US per 1000 L$ to the "todays statistics" panel? GOM had it both ways, why not Lindex? Number of trades would be useful too, so we can get a feel for the average trade size. (Or, just the average trade size.)

So how in the hell do you pull your money out??

https://secondlife.com/currency/describe-transaction-fees.php

"Sellers of currency will pay a fee of 3.5% per transaction. Proceeds will be initially credited to your Second Life account balance. Sellers wishing to receive a payment by either check or PayPal will pay fees according to the schedule given below. To request a payment from your balance, send an email to [email]exchange_proceeds@lindenlab.com[/email] with the amount you would like to receive and the method of payment you would like to use.

Check sent by mail: $10.00 processing fee
Paypal transfer: $5.00 processing fee. (We are in the process of automating payment and will reduce this fee) "

Just send an email to [email=exchange_proceeds@lindenlab.com]exchange_proceeds@lindenlab.com[/email] and tell them how much you want to withdraw, and how. I.e. an address for a PayPal account, or by check.

How about just changing it to LindX?

It sounds the same, but in writing it doesnt look that much like a cheap swedish clothing chain. Lindex is probably the cheapest clothing chain in the Scandinavian market, with outlets in almost every city.

Or maybe LinEx? I think LindX is better.

But I think SLExchange would have been the best name. Why not just buy them out and integrate their shopping site in the client while you're at it?