we need to do something..
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MadamG Zagato
means business
Join date: 17 Sep 2005
Posts: 1,402
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03-20-2006 05:14
From: kerunix Flan There.com don't allow the sale of currency and ... well... this game sux  They also do not allow users to freely upload content, speak freely, or walk around naked and have sex either. Maybe that's because of the large amount of minors using their services. Last time I checked there weren't any teenagers standing around in the New York Stock Exchange either hoping to sell their shares. They cannot allow it because their target market does not have access or the legal authority to trade US$ as we do here.  Smiles |
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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03-20-2006 05:20
From: kerunix Flan You forgot the LL transaction fee of 3.5% nah I didn't forget it... I thought maybe someone might be hoping to devalue it enough so they still come out on top... and as I said... I was just wondering if it could work... or if someone could think it could work... |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 05:32
From: Ricky Zamboni I'm still waiting to see how accurate my predictions are. Ricky: You are the Greenspan of SL... |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 05:33
From: mcgeeb Gupte 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. McGeeb: And the Long Term Trend of the L$ has been what? (DOWN) |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 05:38
Just wait until tomorrow when all those newly minted
Stipends get to be dumped on the market, helping to
push the L$ even lower.
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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03-20-2006 05:40
Well I'm certain of one thing... I won't be selling at the moment... I'll wait and hope |
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mcgeeb Gupte
Jolie Femme @}-,-'-,---
Join date: 17 Sep 2005
Posts: 1,152
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03-20-2006 06:03
From: Fade Languish Well I'm certain of one thing... I won't be selling at the moment... I'll wait and hope The smart thing is to wait unlike the person in a rush to sell at 299 |
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Jamie Bergman
SL's Largest Distributor
Join date: 17 Feb 2005
Posts: 1,752
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03-20-2006 07:34
From: Lord Kaos Look at the rates(285/US$1)
we are in the red.
we really need to do something.
omg economic crash ! Trust me, the only response you will get is people denying there is a problem. Everyone here is an Osterich. |
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Jamie Bergman
SL's Largest Distributor
Join date: 17 Feb 2005
Posts: 1,752
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03-20-2006 07:36
From: mcgeeb Gupte 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. Osterich. |
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Reitsuki Kojima
Witchhunter
Join date: 27 Jan 2004
Posts: 5,328
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03-20-2006 07:40
From: Jamie Bergman Osterich. Parrot.
_____________________
I am myself indifferent honest; but yet I could accuse me of such things that it were better my mother had not borne me: I am very proud, revengeful, ambitious, with more offenses at my beck than I have thoughts to put them in, imagination to give them shape, or time to act them in. What should such fellows as I do crawling between earth and heaven? We are arrant knaves, all; believe none of us.
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Jamie Bergman
SL's Largest Distributor
Join date: 17 Feb 2005
Posts: 1,752
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03-20-2006 07:45
From: Fade Languish 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. Capitalist. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 09:28
From: Fade Languish Well I'm certain of one thing... I won't be selling at the moment... I'll wait and hope Hope is for suckers waiting for fairly tales to come true while ignoring the facts in front of their face. Wait and See, but I can tell you the future... Its your choice to believe. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 09:29
From: mcgeeb Gupte The smart thing is to wait unlike the person in a rush to sell at 299 How about the people still waiting at L$250? Or L$260? Or L$270? You keep on waiting and watching your US$ sink into the abyss |
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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03-20-2006 09:40
From: Jamie Bergman Capitalist. ROFL. Did I ever say I wasn't? I find business fun. I find making things fun. I find getting paid to make things the most fun of all. |
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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03-20-2006 09:42
From: ReserveBank Division Hope is for suckers waiting for fairly tales to come
true while ignoring the facts in front of their face.
Wait and See, but I can tell you the future...
Its your choice to believe. I'm not ignoring the data... but I'm not being a lemming either. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 10:12
From: Fade Languish I'm not ignoring the data... but I'm not being a lemming either. Remember all those shareholders who got burned during the .COM bust in 2000/2001? How many of them sat waiting for the stock to go back up? Only to end up with nothing... By July 31st, we might be talking about the Good Old Times when the L$ was L$280... Cause by then, it might be L$362. |
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Jon Rolland
Registered User
Join date: 3 Oct 2005
Posts: 705
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03-20-2006 10:33
From: ReserveBank Division Remember all those shareholders who got burned during the
.COM bust in 2000/2001?
How many of them sat waiting for the stock to go back up? Only
to end up with nothing...
By July 31st, we might be talking about the Good Old Times
when the L$ was L$280... Cause by then, it might be L$362. And land that sold for 6L/m now will sell for 9L/m or more in that case. |
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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03-20-2006 10:33
From: ReserveBank Division Remember all those shareholders who got burned during the
.COM bust in 2000/2001?
How many of them sat waiting for the stock to go back up? Only
to end up with nothing...
By July 31st, we might be talking about the Good Old Times
when the L$ was L$280... Cause by then, it might be L$362. True. I'm well aware of the risk. Could well be this time next week today's price will look good. I'll take my chances. If everyone panics and sells, well then, it'll definitely go down won't it. |
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Pham Neutra
Registered User
Join date: 25 Jan 2005
Posts: 478
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03-20-2006 11:27
Last weekend, on Saturday and Sunday alone, Linden Lab auctioned off fresh sims worth more than 38,000 USD >= 10 Million L$ Any suggestions, where all those large and small land barons get the USD to pay for their wins? *hint*hint* They probably wont put fresh USD into the economy every week, sell their land for L$ and pile those up ad infinitum just like Scrooge McDuck.  |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 12:14
Seems like Today is truely a "Sellers" Day...
Don't try to catch that falling knife...
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-20-2006 12:18
I guess it would be fair to call today, "Black Monday"
Daily Summary:
Best buying rate: L$289 / US$1.00
Last trade: L$289 / US$1.00
Last close: L$285 / US$1.00
Change: +L$4 / US$1.00
Today's volume: L$2,376,495
Today's open: L$285 / US$1.00
Today's high: L$300 / US$1.00
Today's low: L$284 / US$1.00
Today's average: L$287.18 / US$1.00
Send your letters of Thanks to King Phillip.
Your Glorious Inept Economic Wizard...
Time to rally the battlecry to end all stipends....
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Jamie Bergman
SL's Largest Distributor
Join date: 17 Feb 2005
Posts: 1,752
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03-20-2006 12:20
From: Fade Languish ROFL. Did I ever say I wasn't? I find business fun. I find making things fun. I find getting paid to make things the most fun of all. No, no ... it was a compliment. Being a Capitalist is the best thing you could possibly be. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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03-20-2006 12:33
From: Lewis Nerd It's only a problem if you're selling money.
The more L$ 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.
You've hit the nail RIGHT on the head here. It's not that there's anything WRONG with the market, it's simply a BUYER'S market. It is critical that this trend continue to at least L$316 per dollar, probably a bit father. LL currently offers the best rate on L$, but tells us to offer a much worse rate, and to base our in-world pricing on that worse rate. This is completely unfair to both consumers and producers. From: Lewis Nerd
For those who 'invested' in L$ to try and make a profit.... tough, you should have picked something more real to play with.
This would definately be a foolish thing to do at the moment. It's a shame we can't short L$. THAT would be worth "investing" in. From: Lewis Nerd
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
I agree that the whining is getting VERY tiring. People should either step up to the plate and help to pioneer and work on resident run services/institutions, or just shut up already. It is interesting to note that some time back, I called for a resident economic summit. Most of the people who whine and moan regularly that "someone should do something" showed absolutely no interest. The interest instead came from real virtual businesspeople who rarely post here. It is pretty obvious at this point that LL either isn't very good at regulating the economy, or are simply focusing on their own interests at the expense of the interests of platform users. Please don't take this as an LL bash though. It is amazing how far this platform has come in the time it's been around. It's also MIND BOGGLING how far it has to go though. I'm sure we'll get there in time. It clearly is time for residents to step up to the plate and fill in the economic gaps. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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03-20-2006 12:36
From: mcgeeb Gupte 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. Raise or lower your prices to reflect current exchange rates as the market moves. Problem solved. If you sold an item for L$25 based on the false assumption that L$250 was worth a dollar, the price should be adjusted to L$28 or so. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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03-20-2006 12:42
From: slick McCoy 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 would be willing to bet L$1 that if professional market makers were pricing the L$ on LindeX and everyone else traded through them, the price would be even farther away from the L$250 "goal" than it is presently. It's not casual vs. non-casual buyers and sellers. It's a price seeking a level where there's enough liquidity for everyone who wants to sell WITHIN the time frame that they want to sell. Selling L$ for L$250 per dollar 6 months from now doesn't do you a bit of good if your tier is due 6 days from now. Also, different prices don't hurt the economy in the long run or really in the short run either. Simply adjust your prices to compensate. It's always worked well for me. |
