Second Life needs stable currency

How are you able to know "the real intent" of a person? Psychic? Did they tell you?
Oh no, your prejudice is what enables you to gauge their intent, is that it?

Don't pretend you in any way know how to do this.

Fade... Dmi isn't prejudiced. He knows what he knows because he has experienced it first hand. I'm not going to go into what happened here, suffice it to say I know he has because he lives with me in RL.

If it was being exchanged I'd deal in it.

I would love to see wire option, paypal is not accepting some of the countries, this month removed monaco from supported countries.

No?

I can't remember where but someone in this forum said yesterday that typical land is sold on a 300-400% markup from its actual value when you purchase a whole sim and slice it up.

If I bought a region and sold it at a 200% markup, it would be undercutting most land sellers, and it would sell very quickly, providing a profit to reinvest into further sims, which means I only need the intial $1500 or so setup to buy one sim and go from there.

I have personally divided land and rearranged parcels. I have personally terraformed. I have personally created structures to fit around the environment that they are in. I know how to put land up for sell. So... what else is there to do?

The only thing I don't have is the cut-throat business mind to have success at the expense of others. I'm sure that selfishness is easily developed.

Lewis

Then he is prejudiced by a prior event.
'Prejudice' doesn't have to be a loaded word. And I'm not going to dismiss an idea because of someone else's grudge, no matter how justified it maybe. It's irrelevant to the discussion. You can't bring up a prior personal beef with someone as some kind of counter to an otherwise unrelated event. If your argument with Anshe is strictly personal, then it doesn't really belong in this discussion. If you think it's a bad idea, discuss the idea, otherwise I think you're being unfair.

The idea of an alternate currency for SL is an intriuging one. However, I think there's serious issues in using a currency that's controlled by a private business, plus also in using one that's controlled from external servers. XMLRPC isn't exactly secure.

Also, if SL really were "a country", an attempt to override the government's economic policy by attacking the currency base would probably result in some unpleasant police interaction

You could swear that you play lottery, and if you win that lottery you WILL crash the economy (or, at least, my own business). I'll still take that risk.

I win some good money, and i planned to do more projects. (starting new projects)
I'll do all i can for SecondLife so it stay online for the next decades.
I don't want to lose my investment, i want stable and long term profit, i want SL to stay alive as long as possible and i can't do that against the community.
And i think Anshe want same, because it's the only way to go if you think in "many years".

I let you you the low-profit and low-risk, i'll take the high-profit and high-risk business.
SecondLife need big project too, it need evolution, it need inovation, ...

A player created currency is a good achievment of "Our world, our imagination".

So someone else says it and it's fact? I think you'll find that's not the case at all.
You do know, terraforming on a sim level involves a bit more than raising and lowering the land on a small parcel? Do you know what a RAW file is even?
I don't believe a person who bleats about how impossible it is for a 'little guy', could turn around and succeed just because someone handed him a wad of cash, You're just using this thread as an opportunity to participate in your favourite sport, baron-bashing. and this is your number one target.

"Flaming, Spamming, Trolling – Flaming (posting a message that is intended to incite anger or directly attack a person or persons), Spamming (multiple posts of the same topic or discussion), and Trolling (a post with an intentionally contrary opinion written with the intent of inciting or getting argumentative opinions)"

Read it, learn it, live it.

Yes it is! As such, I hereby announce the launch of BlingBUX. There will be roughly 1,000,000B$ to 1 L$ so everyone can be a B$ billionaire! Details to follow!

Ok if you plan to do this am I correct that these are the steps you'll take:
- You buy your backing for say 100.000EUR, you then know that you can trade that backing in for the rate it's going, you just chose your backing based on its economic health
- You determin a starting exchange price. Let's say 100 A$/1
- As long as there's less then 10.000.000 A$ in circulation you sell them at the base rate
- As soon as there's 10.000.000 A$ out of the door you let the market dictate the rate with the guarantee that people can opt out at any time by trading their A$ in (you can then reinsert those A$ at the going rate).

I can imagine that if you're willing to do the initial investment of 100.000EUR that it could work on a limited scale. I don't know if 100.000EUR would be enough as a start, you should be able to calculate what the starting point should be to move over at least your business. Off course if you'd like to cover more of the SL economy you'd be rather looking at an initial investment of say 1.000.000EUR. Or you could do it in steps but it would grow out to be 1.000.000 EUR fast.

Anyway, in essence you can do it if you have the money but whether it's a good investment or not in the long run will depend on its acceptance. Few people have the ability to tie up such an amount of money in backing but if you can you're set to go.

It could be awesome if it was true, really

You know what's anshe is creating ? A virtual country !
She have lands, a lot of lands. She will have her own currency.
She have some kind of government "herself and her staff", which is still primitve and monarchic (i know a lot about government, i played a lot at "Civilisation" and "sim city" game ) and, of course, the most important : citizen

Anshe, was it really that smart to post this in public?

I sold all my L$ this morning in case the idea makes everyone holding jumpy.

For me, the problems which come with L$ devaluation are solved. I dont care what lewis or selene or whatever thinks.
I see two ways and either one is good for me:
1-> LL will do something to stop devaluation and i will continue with L$ which is good for me.
2-> L$ devaluation will continue and i will start to use A$.

This is what i will do, i am not suggesting anyone to do anything. So lewis and others, you dont have to say:" no this is wong etc.." This is what i will do. You cant decide something is wrong or right for me.
In either way i will feel safe.
I dont care what people think about Anshe. Maybe it is shame to say for a businessman but with my all honesty, in worst economic days of SL, i regularly check what anshe is doing, if she is keeping her lands, buying new sims, i think like:"oh ok, SL is not in danger, she is still keeping 10Ks of USD in the game. If it was in danger, she would leave SL quick" But in my short SL life (6 months) she kept investing SL.
with falling L$ and without any alternative, i was not feeling safe.
Now i am glad to hear, one resident appeared and told that:"if L$ wont work, i will put something which will work".
For LL, i think new currency wont bother them. Maybe they will loose some usd because of less transactions, but at the end, it will be good for them too, stronger economy, better sim sells etc.

but there is a bad scenerio to take care
if anshe is making bluff to raise L$ value(MISTAKE), there are two possiblities.
->Bad one:If LL likes the new currency idea, They will stop their plans(if there is any) to stop devaluation of L$. And anshe wont put A$ because it was a bluff(assumption). And everything will be worse.
-> Good one: LL doesnt like the new currency idea, they will act quick to stop L$ devaluation.

I KNEW someone will say that, i just didn't want to be this one
I tought it will come from some drama-economist mind, not from a wise guy like you.
and i expected some : "OMG TEH SKY IS FALLING BCUZ OF ANSHE !!!11!!11!!oneone *burn* *burn*".
But you did it right, with nice parenthesis and all

Whisper in a hidden microphone : *scchrrrr*We reached the Seldon crisis, the 1st fundation (also called : Anshechung) is doing as expected. Our plan to overtake the universe in 750 years is on his way*sccchrrr*

Okay Ms. Chung, let's go over the basics, shall we?

Who suffers the most from the fluctuating value of the L$? People who cash out the L$ on a regular basis, that's who. And who'se the biggest cashout person in SL? Hmm, that would be you.
Who decides that a 'truly stable currency' is needed? Hmmm, that would be you.
Who decides the value of this new currency? Hmmm, that would be you.
Who will be the original source of this new currency? Hmmm, that would be you.
Who determines the exchange rate between L$ and A$? Hmmm, that would be you.
Who DOESN'T beleive that this is little more than a scam of epic proportions? Hmmm, that would be you.

That would surprise me. Because if we need go through all this effort to maintain one payment server, then there would be no reason to limit it to Second Life.

Who doesn't understand how a currency exchange works? Hmmm, that would be you.

Well...

There is at least some sound argument that if anyone's going to run a currency in SL, Anshe would be a good bet, because she has the most interest in keeping it stable while at once not needing to make a profit from the currency directly, because she makes so much from her other business.

On the other hand, any attempt at overriding the L$ is liable to be very risky and insecure, and a threat to the underlying model. There is something very wrong with the fact that Anshe is making high profits while LL aren't breaking even. For LL to effectively allow another business to cherry-pick the most profitable parts of their business model and subsume them seems extremely dangerous. I presume LL know what they are doing and that advertising Anshe's big profits from SL is positive, but it could be negative too (".. and if you come to SL this is who you'll be competing with"

Currency exchanges don't automatically work that way when all the currency data is all stored on a server that one person controls. They work the usual way for L$ but that's only because LL choose to allow them to.

Now if A$ - or any other currency - could be decentralised; so that, say, each A$ would have a serial number and you'd store all your serial numbers on notecards or data files, and thus you could trade serial numbers between people without needing to go through a central entity - that would be great, and an important step in decentralising SL as a whole.

Did you expected an action from someone that don't usffer of the actual L$ value ?



She can't "decide" that.
Her currency, and the value of this currrency, is VOID if nobody trust it.
And it's the actual problem with L$ : the "big investor" with potential innovation don't trust in L$ (at the day of today).

A$ would be tradeable on the third party exchange. People and 3rd party sites would be able to "give" A$ to whoever they want.

Not really. There's a massive difference in infrastructure, development costs would be enormous, they are very different types of businesses.

Yumi she did say third-party exchanges could trade.

Edit: Anshe just made the same point while I was posting.