"LindeX" - Linden Currency Exchange Begins Public Testing

Supply still outstrips demand.
Yay!

How do you "fix" that? If no one buys, and sellers keep undercuting eachother, what is to stop the price from falling to 1000L$/1$?

Correct. Though that may change in the near future, I'll keep you all updated.

Cheers,
Lawrence

The problem is that we aren't yet getting the buy volume necessary. I expect the volume to pick up once a more formal announcement is made. Also, we just started letting new accounts buy currency about an hour ago, so I anticipate that volume will pick up... hmm... I should amend my post in the announcements forum.

*runs off to the announcements fourm*

Cheers,
Lawrence

With such a tiny percentage of SLers reading the forums.... well, if you're trying to limit the market for a bit while you iron out bugs and such, I can see it, but once LindeX is deemed ready to go, how about a little in-world informing? (And I don't mean the MOTD )

I have been unable to purchase anything in any amount yet. Everytime I try I get an error that the system ran into some problem. This might be _a_ reason that you are not seeing alot of buyers.

Talked to a friend ingame, same problem as I am having.

OK, that email address should be working now.

Cheers,
Lawrence

I'm going to be improving the error messages over the next hour or two... by this evening it should be much more apparent what is going on when people are unable to buy. For now, let me recommend that you 1) check your payment info in your account settings (for credit card users, if your expiration date correct?) 2) keep your purchases a bit under US$20.00.

Cheers,
Lawrence

I've not been able to buy/sell from here at work,
but was able to at home. Could there be some
issue with that? Firewall? Proxy? etc?

Aradon... perhaps something along those lines
for you too?

Purchased the Linden, card got charged, but yet no Lindens have been deposited in game. Am I missing something?

I know my CC works, just got charged for my LL account

It worked this time..... did not change a single thing. Perhaps just a burp in the system.

I seem to have better luck buying with my CC then I can with paypal. I wonder if this is an issue, or is it just me?

I am also not showing any of my $L... figured it would be instant payment. GOM seemed to be instant.

OUCH, so a newbie can only buy 40 dollars worth in a month, that isn't alot if you consider buying, skin, clothes, hair, attachments, land....etc... so they are for 45 days limited to enjoying the full benifits other have right away... which may turn them away from staying, why not consider instead....

Residents whose accounts are Free Basic Membership are currently restricted to:
purchasing no more than US$20 worth of L$ per day and US$40 worth of L$ per month
can't sell L$

This would encourage Purchasing a Premium account, and discourage alt accounts from mass buying and selling.




OUCH again! Someone who is a premium member may want to buy land that cost way more than 20 dollars. This is a limitation that will seriously upset many, I can understand the 1000 us selling a day, that is kinda fair and would pace people.

but I would change this from 45 days old or older to Premium Membership. and raise the buying limits. allowing only 20 dollars a day..... a decent plot of land so you have the prims to actually build something nice on cost more than 20US dollars. think my first land cost me 100us dollars, i didnt take advantage of the first linden land of 512m2 for $512 L

I strongly suggest adjustments. some people have had poor experience with companies like IGE and really don't want to be forced to use them. and many pay good money to play Second Life, not spare change either....Please reconsider these options....

This moves money into and out of your account in a somewhat different way, it seems. The L$ may actually be there - try tradeing 1L$ with a freind, to force and update of your L$ amount shown in your client.

Yes that worked... perhaps they need to put in a "refresh" trigger in their payout system.

I agree on this one, I think the limit's lower than what the market requires. For 45 day old avs, up it to at least 40, maybe as much as 60.

The grid was having a melt down... if it's been more than a few minutes then you may have to relogin to SL to get your in-world balance to update.

Cheers,
Lawrence

Thank you Lawrence

These are the current limits during this part of the public testing... we're been making them less and less restrictive each day. Interesting suggestion regarding basic vs premium limits.

Cheers,
Lawrence

There is... but it can be slow to find you when the sim you're on is heavily loaded. Next week I'll be working with some other folks to try to improve the response time.

Cheers,
Lawrence

Can somebody please tell me what happens when I sell L$ on the Lindex?

I can't see any info that tells me how I receive the US$ I made from selling my L$. Is the US$ transferred to a PayPal account?. I don't see any info anywhere that tells a user that they first need to specify their paypal email address. Perhaps this is LL's way of making sure the silly people don't use the system yet?

Nobody else in this thread seems to confused about this. I'm clearly missing something. A fully functioning brain perhaps?

It is rather hard to find, they tell you what to do here:
https://secondlife.com/currency/describe-transaction-fees.php

or at least half of the selling price...
so if the limit is 1000us dollars to sell, maybe 500us dollars to buy.

Not everyone can buy land off the aution for US dollars, the competition is too hard with the land barons, many are left to buy land in game off them. no offense to them they got a business going, real estates what they do. but if someone new is left to buy in game. 20 US dollar or even 60 US dollars isnt leaving them squat. Like I said my first plot of land was probably 25k lindens, a year ago that was 100 us dollars....

Just doesnt sound like it will pan out with this option.

Imagine being new, your friend encouraged you to come join and get a premium account, They said yes you can make money here start a business, make a mall or club or even you own little shop. but for 45 days they are discouraged becasue they can't sell their lindens to pay for their teirs, they are kinda shy so they don't know about 3rd party selling and buying...or they do know but had a horrible exp with that company... they really want more prims....but in order to get more prims they are forced to buy more land... but o wait they cant compete in the auction..they are out bid all the time....Lindens won't let them take out more than 40 a month.....they may just say the hell with it, I pay 10 dollars a month and my land teirs and i can't even do anything.... and may just quit because it is too hard to get started.

Something to reallly consider.

and on the other note, business may drop for many designers, land sellers, sim owners... Ok business has dropped people are having a hard time buying lindens now GOM is gone.. these contributors to SL making things for people can't afford their business cause sales dropped. wow I can see people closing down businesses all over. Not everyone is rich, and depend on their lindens to pay for their land...

I know personally if I can't pay for my Sim with my game money, I would most likely consider shutting down. Not all of us charge super high rent...I would feel bad having to raise rent on my merchants to balance out the cost to keep the sim running....Just my opinion, hope it counts.

yup trial an error Lawrence (testing) , I'm glad that you are all keeping a close eye on suggestions.

I know it is very crazy behind the scene right now and alot of pressure to keep things as smooth as possible.

personally I am just trying to look at it from when I was new and how this place looked to me, it was confusing enough to learn how to walk and get dressed and not wear a box on my head, let alone not being able to buy nice things for 45 days..

and I look at it now, we encourage avatars to be unique looking, all neat little gadgets to wear, even build a business. it is the hype that gets people here. want to keep that balance.

at the same time keep the loyal regular players who have been here a year or two and have established and worked hard for their place in the world, keep them alive and going. without members this place wouldnt be the way it is, and Balance is what we are shooting for.