Has anyone noticed?

The volume figures after the limit buy orders were instituted include all the limit buy orders filled and any limit sell orders that the currency traders who just filled limit buy orders turned around and sold as limit sells to new money comming into SL. Before the limit buy orders were instituted all the volume represented new money comming into SL.

I agree with you and I'm very new, one of the older residents pointed that out to me 3 or 4 weeks ago and I have been tracking data since that supports this.

I'm sorry... I mis-interpreted your OP how?

How do you propose enforcing a fixed 1000:1 rate with 3 or more independently active exchanges?

How do you expect LL to stay clear of the laws that regulate money transfers when the L$ value is locked to the USD?

These are issues that have already been discussed.

Sorry, I may seem hostile but I would expect someone who STARTS a thread saying things like "... AND SHUT UP!" to have a slightly thicker skin and be able to take a little attitude in return. My error.



Xerius Andalso- To clarify my previous off-topic sig: The demand for USD will always be higher than the demand for L$. More can be done with USD, they have more value and are not locked up inside a proprietary and closed environment. I was expressing my doubts that equilibrium can be found or maintained between USDs and L$. Competition for USDs is increasing faster than the demand for L$ can keep up.

Hola Guys! Hi Spork!!! How's it going?

Well, you guys can do whatever you want with the economy. It will be interesting to see what LL does in the future.

I do, however, think LL wants this world to be a true virtual land. To do that, it really should have its own currency which is not pegged to a real world currency. I mean, hey, if you want to get rid of L$ and just use USD, you could, but then the economy of SL would be less flexible, and really would no longer be a virtual economy/world, but just a US online sales catalog, where you could buy virtual toys & scripts. Which is fine, if that's what you want.

The main issue with having a currency with no restriction is that when an economy becomes really strong, the currency gains value, as the currency gains value, less people can afford to come on game and "play" or in the real world, less people would come and visit your country or buy your goods. This slows the economy and drives up interest rates, which stops an economy from becoming overextended (bubbles). An economy which is weak, will have a currency which gets weaker, and thus people can buy more of the goods from that society, which helps turn around the downfall, drives down interest rates, companies can borrow more, and things turn around slow but sure.

I do however feel that if we could get the devaluation under control (due to printing) that would be nice as our economy would be sound and it would be easier to invest as well as we would have more confidence when making as investment which grows the economy.

So, if we only used USD in game, then we would depend on what the USD did. If the US economy was strong, then the value of the dollar would go up, so less Europeans and Asians would come to SL although our economy would be different than that of the US and many people on SL do not live in the US.

To sum things up. If LL wants an actual VIRTUAL ECONOMY and VIRTUAL WORLD, I don't think they would ever want us to use USD. If they just want an online sales catalog of virtual goods for mainly US customers, then maybe they should do that.

Trying to artificially manipulate currency almost always leads to bad things. Simply keep the money supply constant and let the value find itself via the free market. The more regulations and rules, etc. you add the more you increase the likelihood of black markets and loopholes, etc. There really is no need for any artificial manipulation.

Cheers!

PS: Being able to trade L$ for more than just USD would be nice! But then again, yea right. If you are interested in currency exchange and how the values are determined, try opening a Forex "mini account" and try your hand in currency trading. Forex is the real world market we trade currency on, It is free and there are never any charges, which keeps the market VERY flexible so there is a VERY small spread if any and markets clear themselves fast.

I agree with you here and watch every night to see if that is the night it starts. I posted this tongue in cheek on 30 May and nobody responded:

"Ok, Lewis you busted me so I'll confess. First I need to get all stipends stopped, then I need to get my Currency Trader tier upgraded to level 10. Now that will take a couple of months but by then the USA stock market summer rally will be in full swing and I can remove $100,000 from one of my accounts. I wait for the right time on a Saturday night and start buying L$ at the Market. On that Saturday night I make my maximum $40,000 per day buy. That will drive the exchange rate down to about L$303/1. As soon as Sunday starts I'll buy another $40,000 worth of L$ and the exchange rate will be below L$280/1 and dropping. You are free (it is a free market) to sell all the L$ you want at any exchange rate you choose but I would hope you keep it above L$330/1 so I can maximise my profits. Also you must stay awake that night because by 3 AM the market will be selling below L$280/1 and you don't want to be caught selling for the rate, what will your competetors who all sold above L$300/1 think of you.

Once the market stabilizes wherever that may be I'll spent the next 6 months selling all those L$ back at the new rate."

While this is currently impossible once there are enough currency traders in the game with the required $100,000 all it takes is a trigger and there could be a stampeed to buy L$ at the bargin rate of L$330/1 or even L$310/1. If you go in now and look at the average exchange rate for $70.000 worth of L$ you can see the potential. I was going to say $80,000 but my data is old and there may not be much more than that in the total LindeX.

I'm waiting for a good bounce even if it is 6 months from now. Its easy for the ones to scream that its only going to get worse. Tell me that in 6 months if it DOES get worse.

What is RTFT?

coco

I presume it meant Read The Friendly Thread. Or very near. A variation of RTFM (M = manual).

Your milage on the letter F may vary.

Svar, how about: I compared the bathtub we had before limit buys were implemented to the jacuzzi we have now: the movement increased, but the water level (in the sense of in-Lindex volume) is still pretty much the same.

And to compare jacuzzis with jacuzzis I offer the data of:

May 23rd: open sell orders: L$ 32,505,823 (time to fill 2.9 days)
volume of filled sell orders: L$ 11,282,282

May 31st: open sell orders: L$ 27,957,585 (time to fill 2.5 days)
volume of filled sell orders: L$ 11,067,824

@Jopsy Pendragon
You are absolutely right about the competition

Perfect. I asked that the Limit Buy data be seperated from the limit Sell data so we could track the new $ comming into SL. We will see if LL does that with the next upgrade to the LindeX page. Right now we need to guess.