we need to do something..

Look at the rates(288/US$1)

RED ALERT.
we really need to do something.

omg economic crash !

There is (NOTHING) you can do except the following:


a) Get Linden Lab to cut the weekly stipends

or

b) Open your wallet and buy up the available L$



Otherwises, get on your KNEES and say "ReserveBank"
was right all along. I knew I should have listened....

TIMBER!@!@!@!@!@

Told Ya So....



Best buying rate: L$284 / US$1.00
Last trade: L$284 / US$1.00
Last close: L$282 / US$1.00
Change: +L$2 / US$1.00
Today's volume: L$4,817,238
Today's open: L$282 / US$1.00
Today's high: L$288 / US$1.00
Today's low: L$282 / US$1.00
Today's average: L$282.62 / US$1.00

I'm still waiting to see how accurate my predictions are.

hmmmm, for many a month I have sat and watched as people cry for stipends to be removed as a "cure" for the dropping rate of the Linden but its funny... I see a very different reason for whats happening.

#1. The method of "buyers" perchasing lindens from "sellers" seems to be a recipe for disaster. People are always going to be more desperate to sell what they have than to buy what they need, therefor will always try and put their L$ .01cent under the guy above so that theirs sells more quickly.

A cure?

Seems to me that the L$ started its wayward fall as soon as GOM originally introduced this system. Perhaps someone needs to attempt to regulate the Linden and control the flow of "discounted" sales.

#2. Land ownership is a major controlling factor to the Linden exchange rate.. but.. as there is no "real" land...(also that there is no limit to how much land there can be or that one person can own)... people are in no rush to purchase. If they are not in a rush to purchase, then they are not in a rush to buy lindens to purchase their land... and we are back at problem #1 again.

#3. The Linden $ is unlike any other currency in the world...therefor there is no point in comparing it to the US$ or arguing its "stability". There is not another currency in the world where one controlling entity can produce as many millions of dollars worth of their "money" for no reason and without control. If Philip Rosedale decides he wants a new pair of shoes, he could just sit at his computer and punch himself out another hundred thousand lindens... sell them on the market for $2 per thousand and have enough left over to buy some "glow in the dark - sparkle- laces".

I would say that there is little point in moaning and complaining about crashes to the economy...or the stipend people receive... or the lack of "sinkholes" in second life (by the way...I have an inventry full of useless "non transferrable" crap that I would consider a major SINKHOLE)... we should just be happy that some of us can have some fun..plus earn an extra $$ or two while we are here....

As I have been told so many times whilst getting my knickers in a knot...


ITS ONLY A GAME!!!!

You're beginning to sound like my kids. BTW, its 282 now. Exactly 14 days ago it was 280. I guess it is time to worry.

I think Alice left some more reasonable reasons or solutions to fix the problem. The stipends are staying.

Can't wait till 1 linden = 1 penny

You do realise the L$ is headed the wrong direction for that, right? That right now at 284L$/USD that's 2.84L$ per penny?

It's only a problem if you're selling money.

The more L$ you get for your $, the better it is for buyers.

There will always be more buyers than sellers, therefore it's working just fine for me, as a potential buyer, and therefore nothing for the majority of people to worry about.

For those who 'invested' in L$ to try and make a profit.... tough, you should have picked something more real to play with.

It's getting rather tiresome to see people complaining that the rates are going the way that benefits the majority at the expense of the few. Deal with it. If you don't like it, you could always go and speculate in the real world instead of turning a GAME into something it should never have been.

Lewis

So, basically, you give a reason to ppl to sell every single L$ they own, everytime they can ?
Mmm... they do that, and that's our main problem right now.

I think the LindeX (open market) model is wrong. But i'm not a great economist and i have no evidence.

What about those of us who don't invest but need dollars to pay tier? It just makes it all the more tougher to pay that. Though, I'm not complaining about the rate either, it just would be easier that's all.

That doesn't strop reservebank, kerunix, so don't worry



My shop made enough to pay for the split tier me and fiance have this month. We still pay in US$ I think the only lindens I would cash out might be for a alt..witht the new last name feature..

I think it's pretty obvious that the majority of people buying/selling lindens don't run a business in SL and just want to sell their Lindens as fast as possible and thus most of the new sellers put their Linden at less than what some people would want who are trying to make a business in the game. Simply put until you can convince the casual seller (I'm sure that more people sell casually than business people do, although I don't have any hard evidence on that) to sell at a rate that won't hurt the economy in the long run.

I understand that as a problem - however personally I'm not in favour of the whole "exchange market", as I believe game cash should stay exactly as it is - game cash.

Lewis

If it was game cash, there wouldn't be anywhere near as much user created content as there is now.

and, more important than everything else : no land for sale.
Remember, new sim are bought at auction, with real US$, before being sold to the "mass".

Same for rental.

There.com don't allow the sale of currency and ... well... this game sux

Do you realise we have good content because of the exchange market? That many wonderful projects are funded by a business that pays the tier? That highly talented and skilled people are producing content because they can justify their time because they get a return on that investment?
So you think that someone who makes a beautiful sim, and funds it from a business operating in that sim, should pay $195 a month out of their own pocket to provide the rest of us with entertainment/a nice experience/whatever? You wouldn't see projects of the scale and beauty of Lost Gardens of Apollo. Clothes would be a whole lot shittier. Anims would be amateur etc etc.
'Game' money is only attractive for so long. Once your $L balance hits 6 figures, you have more than enough just to 'play'. Shopping for your avi only holds your interest so far... I've got everything I need, I'm set, I already bought out Acedia's.
And why is it so bad that people make money in SL? It's more than just 'land barons' out there making money. If someone is skilled at making anims, clothes, textures, building... well, in my opinion, what a wonderful creative way to make some/all of your living.
Viewing SL as a game is a very narrow way of looking at it. If that's all you see it as, then you are really missing it's true potential and attraction. As I've said before, there's games within it, it's a game for some, but it is not merely a game. If you want to 'play' it that way fine, but why begrudge those who see it as more?
SL is a platform, a creative community, it's lots of things...
Returning to the topic of the thread... I think a component of the $L current woes stems from that fact that SL is not particularly desirable right now. Another crap update, my avatar's been invisble for most of the week (so why would I buy something for my avi right now?), and I'm not the only one, a lot of people have been having this issue with this update.
Important fixes/features that have long been promised are now widely regarded as a joke, while we get trivialities like, and I can't get over this, the whole "editing appearance" thing (like, if I hadn't realised they were editing appearance cos their arms were stuck out, would it matter? What's it to me?). Building is not so much fun anymore, it seems buggier than ever before.
Many people have become quite jaded, to say the least. I'm tiering down, I was going to move, but instead, I'll wait and see if things get any better (like when I can see my avatar again). If SL is not attractive, then neither is the $L.

We definitely need to do something about it.

I suggest jumping up and down screaming.

The L$ value can easily stabilize at 283 for today. If ppl stop being stupid, which is impossible ...

L$287 / US$1.00 5 L$93,549
L$285 / US$1.00 4 L$396,026
L$284 / US$1.00 16 L$506,880
L$283 / US$1.00 7 L$2,831,500

Edit : and now ...
L$298 / US$1.00 1 L$52,000

Anybody with a million, can raise the L$ value to 300, extremly easily.

Which leaves me wondering how a single res has 40,000 to burn - and why they would sell
at such a significantly lower rate than the current. Someone with a business with a typing problem? Or someone with a currency based business who wants the linden to sink :~
Or just a rich idiot?

Its been surprisingly common for blocks of 30k-40k Lindens to be sold at around 300 to the dollar.

Why 298 and not 300 ?
Because 298 can be easily misread "288", which is the natural suit of "287".

The market manipulation is obvious, and it work very well today.
And, yes. 300 is "common" now...
It's like subliminal message sent everyday, since many weeks ... "sell at 300, sell at 300, sell at 300".

I've been watching the Lindex all night (my timezone)... and either... there's some really silly sellers... or someone is trying to devalue the $L... or both?

Why would someone be dumb enough to through away 10 dollars, if I figured it out correctly? It's now 299L and quantity of 52K.

Well... I was kinda wondering if this would work... drop a small quantity, like 52k at a worse rate than others are selling, wait for another L$500,000 or so follow it down, buy up more than you sold, drop another small quantity, wait for the L$ to follow, buy more. Do that a few times, stop, sit back, wait for it to recover, sell.
I don't usually opt for the conspiracy theory first, but I agree, why would someone be dumb enough to throw away $10? To sell them fast, they didn't need to sell them at 299L...
Of course, given the small (relative) quantity, could be inexperience.

You forgot the LL transaction fee of 3.5%