Second Life needs stable currency

Yes.. so does Cyboria. If flopped before it ever really got off the ground, but, not because of finances. Was a shame too since it would have been a vast improvement over AW. This was, of course, about 6 years ago. Anyway... what you stated is the very reason I was asking about the profit and loss statements. Like I said a good accountant/bookkeeper (auditor, too, obviously) can usually spot the areas where the books were doctored just by looking very closely at the statements. This gives them a clue as to where to look in the books and source documents for discrepancies.

Oh I'm not going anywhere for long... I know I keep you all amused with my posts. LMAO!!

Quote:
"You don't need extra vendor. The same vendor device can accept both L$ and A$ if the merchant configure that way."

LOL..

No thanks! Not in my stores.

Cyboria never really had much hope. It was using an ancient engine for the time period, and was being written in Pascal by a single developer without any real backing. It's content creation tools were limited to uploading files generated by the engine's level editor.

(searching for Mr. Potato Head!)

any word on that currency thing?

I heard it had it's A$$ kicked.

I think it's high time we all started printing our own SL currency. Feel free to exchange at will

Yup. That is why I stated that is was not due to financial reason for it's downfall. There was more to it that what either you or I have stated. I still wish he had gone ahead with open source. It would have been fun to play with.

I'm going to start paying for everything with fish. They're portable, available in a variety of sizes, and you can eat them in a pinch.

if she goes through with this will be interesting to see if anyone will trust her with the value of their money when she can't keep her own acct paid up.

Before I begin, please let me state I am not an economist or financial type. With that being said, the problem is simple: Devaluation of the currency occurs because of constant inflow of lindens from free sources. These include, but aren't limited to, the following: Stipends (both regular and premium), Initial payments for account openings, and payments from LL (for things like Dwell Bonus). So, now that we have the problem, how do we solve it?

From what I have read in this post and many others, people want to try things from backing fake currencies with silver to eliminating all newbie payments. This simply will not work in my opinion as it will either (a) cause it to be difficult to purchase goods and services (as there will be multiple currencies) (b) make it extremely difficult for newbies to break into the game as they, again imho, need a little money to get started.

With that being said, maybe there are other ways to solve this problem. Here are some ideas I thought of (if these were repeated before I apologize):

1. LL Vendors: Have NPC vendors that would sell things people could use. These things could range from simple items for newbies to the complex for more seasoned use. By buying from LL Vendors, money would be taken out of the economy permanently and would reduce the number of lindens in circulation. Same could happen for some non-technical support type services LL could provide (contest judging, use of LL gathering places, LL advertising on the main web site for private events [banner ads], etc).

2. A standardized banking and interest rate system: If LL could create a banking system that included loan services and savings interest, they could produce a standardized interest rate that they could manipulate to control inflation and public and private investment. This would allow people to make reliable investment systems, LL to allow secured loans, and more. LL could also extract fees for this service would again take lindens out of the economy.

3. Create a linden reserve: Have a linden storehouse that would buy small amounts of lindens that are out of whack and later sell them when prices are more stable. Interest from loans could help build this reserve and any profits made from the linden speculation could be used to pay savings interest and other costs.

4. Instead of eliminating newbie stipends and dwell bonuses, change the system so that they are either temporary or no interest loans. This would give the newbies a little to spend, but would take the currency out of the system once they made some money (as they would have to repay the loan). You could make the first payment say after 60 days. I would say in 60 days a newbie should be able to either find a job, sell a product, or pick enough money trees to payback the funds. If they couldn't repay, they simply would not be given any more money and all profits made would be redirected to paying the loan.

These are just ideas I have. While they are not perfect or may need some serious collaboration to work, I think they provide some alternatives that do not involve multiple currencies or blanket eliminations of stipends...

Please let me know what you think, good or bad. I look forward to your comments.

Fastfreddy Freeloader

Once again, take a look at the daily stats for April 2, 2006


Daily Summary:
Best buying rate: L$295 / US$1.00
Last trade: L$295 / US$1.00
Last close: L$297 / US$1.00
Change: -L$2 / US$1.00
Today's volume: L$3,387,482
Today's open: L$297 / US$1.00
Today's high: L$2000 / US$1.00 <------- Once again someone does it. good work
Today's low: L$293 / US$1.00
Today's average: L$296.10 / US$1.00

The average is higher then the current low.... hmmm could that high have anything to do with it? probably.

The high will have little to do with it. With 3.3M L$ volume do you really believe someone sold enough at L$2000 / US$1.00 to influence the average? That would mean they sold thousands of L$ at a tremendous loss just to have the average move a few points.

Look at the open, the low and the last trade. 296.1 seems to be a fairly consistent average. Averages can't be easily manipulated when you're having a 3.3M volume.

Just as a practical note on this topic.

After reading all the fuss about Anshes banning I find it rather hard to belief Anshe is serious about launching her own currency. To set up such a currency and cover for the inflow money you would need at the least 100.000EUR backup. So given the financial info she disclosed herself there's only few options left:
- She hasn't done any serious analysis on what amount of money would be needed to start this
- She wasn't planning anything at all but just thought threatening to would accomplish something
- She wasn't actually planning to do it as promised but would do it without the backup in place (this would've been the worst possibility off course)

In the end discussing it any further isn't useful as Anshe apparently doesn't hold enough funds to pull it off.

Ok Ive read a good bit of this. It's amazing, No really. I guess this is what happens when someone gains power they feel they have so much to offer they can push their way into a situation and make it sound like they really care let alone thought it through. I'm sorry in the US we call that serendipitious at the very best.

I have a good idea. If everyone truly would take the time and effort they are putting into this farce, and work out a real solution we just may get some where.

I'm sorry and I realize you have built an empire in SL and I respect your abilities but dont you think it would better serve the SL community if you start thinking in trems of supporting LL seing it allowed you the ability to gain what you have here rather than trying to feed your ego?

Truly this MUST be an April FOOLS joke. If not, maybe you should think about investing in your own business away from SL that way you would be the God you desire to be.

A$$World would be a good name. Good luck, I for one will continue to support SL, LL as well as the Community at large rather than making it my private play ground.

Best of luck

Elocin Tuppakaka

I've got a better idea...Anshe could fund the creation of her own version of SL and work with ll to combine them so it would be like another country in the metaverse!

Just as probable! Twice as fun!!

But seriously, you're still inside someone else's game. You're not calling the shots with the money! Bill Gates can't print money with his face on it and expect people in RL to use it!

No disrespect, just some perspective!

-S1 >X<

Although AU$ is used for the Australian Dollar, I have concerns that non-SL people may mistaken the A$ symbol on websites etc as being Aussie Dollars.

And the other way round....

What if i was selling an entire region of Second Life land on an Australian site and for the sake of this example, decided to use Australian currency (perhaps without realising). Say I was trying to sell it for AU$1500 which is approx US$1100. So perhaps I make a typo and type A$1500 instead of AU$1500?

Is that enough to express my concern clearly?

Regards,
Trev.

Averages are between High and Low (unless High = Low, which would make High = Low = Average.) That's what makes them "average", pardon the pun.

Heeheehee... pardon my laughter... "poses a serious problem to the economy and infrastructure of SL". Pleeeeeeaaaaaase. Stop with the doomsaying (pouting?), Anshe. It started getting old when you tore into Ginko, and got even older when you started throwing little fits about the doing away with telehubs.



nice thought, but remember. Anshe has a proven track record of only supporting LL when it does things that go with her and her plans. Remember when they did away with telehubs? ANd Anshe was up in arms? Saying it would crush the land business, cause us all to descend into the lower pits of hell, and so forth?
Hmm. SL seems fine, even with the devil's method of teleporting *g*

And I remember the whole "turn your back on the Lindens" thing. And her threatening to leave. And then the attacks on Ginko. And so on. And so on. Anshe seems to have two things in mind when it comes to SL.

1> I have money. I know best. Trust me, because I'm rich. Lets not worry about the way I've strangled the land market with overblown prices.

2> Since I have money, SL exists to cater to what I and others with money want. It doesn't matter what works for eeeeeveryone else. The select few have an issue, and we'll raise a huge stink about stuff.

The Linden fluxuates, but really, its not a *huge* fluxuation. I know more than one person that makes a nice, tidy, healthy amount of money in SL, and never complains about the exchange rate and such. I frankly doubt An$he's intentions in this. She can say all she wants about stabilizing the economy, but really, it comes down to Anshe wanting to get that little bit more of a grip on things, so she can have her way.

Anshe, you can do what you like. Its a game. But I will tell you that I avoid anything you have a hand in whenever possible. I don't buy your overpriced land, and I won't touch your currency with a hazmat suit on. =) Have a good day.

OMG, a thread necromancer !



Do you have any business in land reselling/rental ?
Do you even know how it work ?

All land (but 1st land) are bought in US$ at auction by some player.
They are sold in L$ to the players.
The L$ are sold for US$.
Thoses US$ will pay the montly fee + the initial investment.

If the L$ is too unstable, there is some problems.
What if you set the land price with a 300L$ per US$ and when you have the good L$ you have to sell it at 310L$/US$ ?

People don't buy sim (it's expensive) to lose money ... you know that ?



She support her own business ... what's wrong with that ?
If LL do something good for her, she's happy about LL.
If LL do something bad for her, she mad against LL.

What's wrong ?
Don't you do that IRL with your government ? Most ppl do ...



Reading your post... She know the SL economy better than you, anyway.



It's not huge... but when you own 100 sims, it's 19500US$ per month !!
And do you have an idea of the land rental profit ? At the current rate in L$/sqm/week, the profit is extremly low.

* 1250US$ investment + 195US$/month.
If you rent 100% of your land at 0.4L$/sqm/week you earn around 350US$/month
your benefit is around 150US$, considering you have to pay back the 1250US$ ...
in 10 month with a lucky 100% rental your earn nothing.
And you never rent 100% of your land.

Any little fluxuation can kill your benefit.
What if you planned a 10% profit, and the L$ fallen by 20% ?
you lose 1950US$/month without screaming ?



I think that nobody care about what you're doing... Anshe more than anybody else

Well as long as this thread has come back from the dead anyhow..

Has anyone made any progress towards setting up a secondary currency? I kinda figured that even if Anshe decided not to, someone else may. If Anshe or anyone else is working towards this goal, how's it comming?

In the broad scheme of things I suggested a perfectly workable system called the Gold Linden Dollar, based on real gold via Gold Bullion Securities (epic code gbs and an exchange traded fund quoted on the main UK stock market) with a real life UK Limited Company including a chartered accountant. In Second Life it would work via Pay Pal

In short I know how to do it but the computer programing is beyond my own abilities.

Finally yes, it (Gold LInden) would have real life fungible value based on the gold price vis-a-vis the US Dollar

Dude you already have a huge monolopy on the game with land and your extortionate prices and the eyesores that litter the land, big heffing white signs, its slightly egotisitical to want a currency named after you. you'll be wanting re-name the game soon Ashne Life!

Does it not bother you that you have sucked the entire fun out of the game just for capital gain, i would hate to know what you actually do for fun, or is that not a word in your vocabulary.

Stop Greed and promote happiness dudes - dont turn this world into the real world.

Kat Sullivan
Chillax.

p.s and before you say "you wouldnt have a second life without me blah blah blah with my 'investment' etc thats a total misconception, there are 206,000 more residence in world who beenfit from game with or without "your investment. And i am sure that you get back enough dollars to keep you adequately happy. In short, get a grip, no one is indispensable and the world doesnt revolve around you.