Second Life Forums Archive - currency exchange

Forseti Svarog

ESC

Join date: 2 Nov 2004

Posts: 1,730

08-17-2005 08:04

Ricky Z of GOM just asked for clarification on a few things in the hotline.

In his response, Philip wrote:

From: someone

Currency Exchange: I think we need to somehow figure out ways to make it easier for casual or first time users to buy currency more easily from other users. This seems like a huge opportunity for SL producers - it seems to me that if currency exchange could happen with one click for new users, there would probably be US$300K or so in new income for producers - overnight. That would be really cool.

full thread: /invalid_link.html

I cannot agree more. A seamless and easy way to buy small batches of L$ for whim purchases (and big batches for bigger needs) would change a lot of things. It would bolster the economy a great deal.

While I like what the GOM team has done, there is no question that as a Newbie I was extremely relunctant to use a third party website I didn't know much about. Not to mention that it took days to set up GOM and paypal to work. When the time came that I realized I needed extra L$, and was willing to pay for it, I needed it NOW.

If, for example, we're going to have people say "I want that dress" and then use RL money to buy it the way they buy the extra popcorn *after* they've bought their movie ticket, then it all needs to be much easier.

Until that happens, people will just clamor for more stipends and the demand for in-world currency will remain stifled.

Kenn Nilsson

AeonVox

Join date: 24 May 2005

Posts: 897

08-17-2005 08:46

Hmmmm...that's not a bad idea...(wheels spinning)

Greene Hornet

Citizen Resident

Join date: 9 May 2005

Posts: 103

Slippery slope...

08-17-2005 09:22

Its a slippery slope from micro-exchanges to larger currency transactions... LL will either have to pick a partner like GOM or they will own it in due time. My guess is that there are some significant jurisdictional sales tax issues for a VP of Finance to work out in this whole mix.

"Monetize" usually means carving up user experience into more buckets of value for which fees can be charged. So whether that happens through new feature/function, or a more federated existing feature/function will be the key for businesses like GOM, et al.

SL could very well offer a "one-click" currency exchange service for newbies that works like its "First Land" program or on a timer like Money Trees today if they maintained a "bank". Such a bank could be funded by open market purchases on GOM and might be a significant sink over time, inasmuch as Lindens are taken out of circulation for a period of time.

Other thoughts?

_____________________

I'm unemployed and my girlfriend wants me to get a job. She thinks I'm addicted to the internet and this game.
Greene Hornet

nimrod Yaffle

Cavemen are people too...

Join date: 15 Nov 2004

Posts: 3,146

08-17-2005 09:32

Weird, in the past 10 minutes, the price keeps going up and down between 3.60 and 3.64, about 700k+ have been sold. WOW, someone's making a big purchase!

Iron Perth

Registered User

Join date: 9 Mar 2005

Posts: 802

08-17-2005 12:04

I agree.

I think by increasing the demand of the supply/demand equation, the L$ will rise.

_____________________

http://ironperth.com - Games for SecondLife and more.

currency exchange
Forseti Svarog ESC Join date: 2 Nov 2004 Posts: 1,730	08-17-2005 08:04 Ricky Z of GOM just asked for clarification on a few things in the hotline. In his response, Philip wrote: From: someone Currency Exchange: I think we need to somehow figure out ways to make it easier for casual or first time users to buy currency more easily from other users. This seems like a huge opportunity for SL producers - it seems to me that if currency exchange could happen with one click for new users, there would probably be US$300K or so in new income for producers - overnight. That would be really cool. full thread: /invalid_link.html I cannot agree more. A seamless and easy way to buy small batches of L$ for whim purchases (and big batches for bigger needs) would change a lot of things. It would bolster the economy a great deal. While I like what the GOM team has done, there is no question that as a Newbie I was extremely relunctant to use a third party website I didn't know much about. Not to mention that it took days to set up GOM and paypal to work. When the time came that I realized I needed extra L$, and was willing to pay for it, I needed it NOW. If, for example, we're going to have people say "I want that dress" and then use RL money to buy it the way they buy the extra popcorn after they've bought their movie ticket, then it all needs to be much easier. Until that happens, people will just clamor for more stipends and the demand for in-world currency will remain stifled.
Kenn Nilsson AeonVox Join date: 24 May 2005 Posts: 897	08-17-2005 08:46 Hmmmm...that's not a bad idea...(wheels spinning)
Greene Hornet Citizen Resident Join date: 9 May 2005 Posts: 103	Slippery slope... 08-17-2005 09:22 Its a slippery slope from micro-exchanges to larger currency transactions... LL will either have to pick a partner like GOM or they will own it in due time. My guess is that there are some significant jurisdictional sales tax issues for a VP of Finance to work out in this whole mix. "Monetize" usually means carving up user experience into more buckets of value for which fees can be charged. So whether that happens through new feature/function, or a more federated existing feature/function will be the key for businesses like GOM, et al. SL could very well offer a "one-click" currency exchange service for newbies that works like its "First Land" program or on a timer like Money Trees today if they maintained a "bank". Such a bank could be funded by open market purchases on GOM and might be a significant sink over time, inasmuch as Lindens are taken out of circulation for a period of time. Other thoughts? _____________________ I'm unemployed and my girlfriend wants me to get a job. She thinks I'm addicted to the internet and this game. Greene Hornet
nimrod Yaffle Cavemen are people too... Join date: 15 Nov 2004 Posts: 3,146	08-17-2005 09:32 Weird, in the past 10 minutes, the price keeps going up and down between 3.60 and 3.64, about 700k+ have been sold. WOW, someone's making a big purchase!
Iron Perth Registered User Join date: 9 Mar 2005 Posts: 802	08-17-2005 12:04 I agree. I think by increasing the demand of the supply/demand equation, the L$ will rise. _____________________ http://ironperth.com - Games for SecondLife and more.

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currency exchange