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Unambiguous statement of exchange rate target

ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
03-24-2006 10:22
From: Fade Languish
Yes I agree with you. SL's economy seems to have been LL's most prominent marketing tool of late, they need to back that up. If they expect people to have confidence in their concept of SL having an economy, they need to reinforce that with the appropriate and regular data.
A lot of people, even those who are here for fun but doing well in the process, have a reasonable amount invested in SL. I think we should be armed with information, so we can fairly ascertain the relative risks involved and the general health of the economy. It shouldn't really have to be a dream.




Hmmmmm Your post has made me ponder a possible SL business.

Insurance Company.

Buy a policy to cover yourself from currency crashes, land devaluatons,
etc... All I need to do is a little statisitical economic modeling to create
the little Black Book. Hmmmmm... Berkshire Hathaway of SL...
I like the ring of that..
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Lewis Nerd
Nerd by name and nature!
Join date: 9 Oct 2005
Posts: 3,431
03-24-2006 10:47
From: Anshe Chung
Anyway, I still firmly believe that L$ will recover to L$250. Everything else would simply not fit with my trust in Philip as the very ethical person. What we see is certainly just some temporary short term thing. Philip always keep his word.


Quite what is 'unethical' about the economy doing what it wants to?

Just because it doesn't fit your plans, and hits you firmly in the bank account, does not in any way make it unethical.

Artificially manipulating things so that it went back towards L$250/$1 would, however, be unethical if that's not where the market was heading. If it recovers, it's because that's where it's heading of its own accord. As a purchaser, obviously I'd like the exchange rate to go further so I get more L$ for my $.

I'm surprised that nobody has cottoned on to the fact that this whole joke of an 'economy' is actually nothing more than a glorified pyramid scheme. Those at the top make lots of money for very little effort, and the poor sucker at the bottom of the pile have almost no hope, this far into the game's life, of ever achieving any significant wealth regardless of the effort put in, because almost all possible markets are already saturated, and are being controlled by a small group so that nobody else has a hope.

You do realise that the individual who recently put L$2,000,000 on the market actually had about $6,800 of real cash tied up in that investment? To accumulate that much game money and have not cashed it out before is rather risky, given the fact that if SL closed tomorrow you'd be SOL as far as getting any of it back.

Lewis
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
03-24-2006 10:55
From: someone
Philip always keep his word.


*cough* havok 2 *cough*
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Jason Foo
Old Timer
Join date: 6 Feb 2004
Posts: 105
03-25-2006 09:20
From: Lewis Nerd
Quite what is 'unethical' about the economy doing what it wants to?

Just because it doesn't fit your plans, and hits you firmly in the bank account, does not in any way make it unethical.

Artificially manipulating things so that it went back towards L$250/$1 would, however, be unethical if that's not where the market was heading. If it recovers, it's because that's where it's heading of its own accord. As a purchaser, obviously I'd like the exchange rate to go further so I get more L$ for my $.

I'm surprised that nobody has cottoned on to the fact that this whole joke of an 'economy' is actually nothing more than a glorified pyramid scheme. Those at the top make lots of money for very little effort, and the poor sucker at the bottom of the pile have almost no hope, this far into the game's life, of ever achieving any significant wealth regardless of the effort put in, because almost all possible markets are already saturated, and are being controlled by a small group so that nobody else has a hope.

You do realise that the individual who recently put L$2,000,000 on the market actually had about $6,800 of real cash tied up in that investment? To accumulate that much game money and have not cashed it out before is rather risky, given the fact that if SL closed tomorrow you'd be SOL as far as getting any of it back.

Lewis



Pyramid scheme? are you saying that SL is a pyramid where sellers are on top and the buyers are on the bottom? I see in no way shape or form how there is any type of scheme here, and I will assure you that all of us sellers that cash out around 500KL$ a month or more work very hard for our money. We are developers, business owners, and vendors. we scour the SL market to find a nich that will make us successful. so I fail to understand how in any way this is a pyramid scheme.
Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
03-25-2006 10:03
From: ReserveBank Division
Hmmmmm Your post has made me ponder a possible SL business.

Insurance Company.

Buy a policy to cover yourself from currency crashes, land devaluatons,
etc... All I need to do is a little statisitical economic modeling to create
the little Black Book. Hmmmmm... Berkshire Hathaway of SL...
I like the ring of that..


That's actually a good idea.
Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
03-25-2006 11:02
From: Lewis Nerd
Those at the top make lots of money for very little effort, and the poor sucker at the bottom of the pile have almost no hope, this far into the game's life, of ever achieving any significant wealth regardless of the effort put in, because almost all possible markets are already saturated, and are being controlled by a small group so that nobody else has a hope.


I find myself in strong disagreement with your statements frequently. I'll try and keep this reply non-personal.
Those "at the top", include all manner of people, making their money in an endless variety of ways. They include some very talented, clever, innovative residents. Contrary to your statement, successful people in SL work very very hard, that's why they're successful. Have a look at the Developer Directory. Research some of those names, investigate and visit their work, and you'll see how truly creative and professional they are. Many of them were here before currency could be converted to $US, doing it for the joy of creation, and if the Lindens all disappeared tomorrow, they'd still be here doing it for the love.
Some people must create to exist. Very often, they turn it into a profession so they can justify the enormous amount of time they put in, and because they need to make a living but don't want to take time away from creating. Often, they live the same way in RL. I've spent the last 20 years working for myself, carving a living out of things I love doing. I approach SL in the same way as RL.
I've had some insight into the work successful residents put into their businesses, and how much passion they have for their work. My first day here, I made friends with Acedia Albion (I love her style, it's totally me!), I know exactly how much time she spends online at her store, creating new garments, providing service to her customers, organising events.
When I was rebuilding Textures-R-Us, I gained enormous respect for Lillybeth Filth. She lives and breathes her textures and her store. Her store is her SL home, her textures are her art, and she works her ass off. She drove me hard, but I understood. It was very important to her.
I am in awe of even older, more successful residents. Their work frequently astounds me, and many have such vision. Take a walk in Midnight City. Visit Abbott's Aerodrome. Think of what FlipperPA has achieved with SL Boutique and more.
I don't think it's true that a new resident "has almost no hope", or that the market's saturated. You and I joined in the same month, but our outlook and our experiences seem very different. After spending 8-12 hours a day for about four months learning to build (so much still to learn!), pushing myself further with every build, I've spent the last 6 weeks constantly doing custom builds, to the point where I've had to knock back offers, and commanding a very high fee for someone so new.
I've made enough money not to have to inject any more money into SL for at least six months even if I stopped earning now. I have the backing behind me to start my next phase, set myself up exactly how I want, I only wish I didn't have to take a break for a few weeks while I move house RL, I'm dieing to get stuck into it. I haven't felt disadvantaged by being new, I haven't felt limited in any way.
To my thinking, unless financial disaster strikes LL, we're not very far into SL at all. This is early days still. Furthermore, as the population grows, the influence of the founding residents will become diluted. They'll still be amazing, they'll still be successful, but new people will create new possibilities, with their fresh talent and ideas, and by sheer weight of numbers. They'll also see SL through different eyes.
I've witnessed this cycle in real life. I have spent 20 years as part of and working in the club scene in my city. I was one of the handful of people who started the whole thing here. I am now the last man standing, there's no-one left who was there before me. For about 15 years, hard work and passion not withstanding, it was enough to just be me. Everyone knew who I was, my reputation, what I'd done. All doors were open to me.
The club scene here is now many many times bigger than it was when I first found my underage way into that world. So many generations have passed, that who I am, what my generation did, is no longer remembered except by a handful of old timers. The momentum is with the young, it's their scene now. I have to forge my reputation anew every weekend behind the decks, I can't afford to rest on my laurels. If I do, there's a hundred people standing behind me hungry for my place, with all the energy, enthusiasm and healthy disrespect for the past of youth.
The same will hold true for SL.
SL's history as only just begun, and we've only caught a glimpse of its' potential, even if that potential is realised by a successor. One day, it's history will fill so many chapters, that even you and I will be considered pioneers.
Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
03-25-2006 19:27
If Philip Linden's target is L$250/US$, then I think the premium package should reflect that, not L$361/US$. Time to stop undercutting the residents maybe.
ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
03-25-2006 19:59
From: Fade Languish
If Philip Linden's target is L$250/US$, then I think the premium package should reflect that, not L$361/US$. Time to stop undercutting the residents maybe.




Hahahahah... King Phillip is talking out the side of his neck.
They might "wish" for a L$250 target. But Linden Labs isn't doing
jack squat about trying to reach that level...

Every 2bit idea they muster never works. You are more likely to
see the L$ below L$300 in the next 6 months than you are L$250.
And you can take that to the bank.
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Jamie Bergman
SL's Largest Distributor
Join date: 17 Feb 2005
Posts: 1,752
03-25-2006 20:11
From: Lewis Nerd

I'm surprised that nobody has cottoned on to the fact that this whole joke of an 'economy' is actually nothing more than a glorified pyramid scheme. Those at the top make lots of money for very little effort, and the poor sucker at the bottom of the pile have almost no hope, this far into the game's life, of ever achieving any significant wealth regardless of the effort put in, because almost all possible markets are already saturated, and are being controlled by a small group so that nobody else has a hope.

Lewis


This is ludicrous. New markets open up every day. Old Companies die. New moguls emerge.

I'm so glad I live life as a Capitalist with a 'can do' attitude and never embrace the above quoted defeatist sentiment.
Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
03-25-2006 20:36
From: ReserveBank Division
HahahahahYou are more likely to
see the L$ below L$300 in the next 6 months than you are L$250.
And you can take that to the bank.


Yeah, I'd agree with that statement.
StoneSelf Karuna
His Grace
Join date: 13 Jun 2004
Posts: 1,955
03-25-2006 22:56
From: Ricky Zamboni
/139/e1/94866/1.html

We'll see if it gets answered... :o
so far given that the msot of the posts around your question have been answered...

maybe not...?
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StoneSelf Karuna
His Grace
Join date: 13 Jun 2004
Posts: 1,955
03-27-2006 13:03
From: Ricky Zamboni
/139/e1/94866/1.html

We'll see if it gets answered... :o
day 6
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Shep Korvin
The Lucky Chair Guy
Join date: 30 Jun 2005
Posts: 305
03-28-2006 05:24
From: Lewis Nerd
the poor sucker at the bottom of the pile have almost no hope, this far into the game's life, of ever achieving any significant wealth regardless of the effort put in, because almost all possible markets are already saturated, and are being controlled by a small group so that nobody else has a hope.


Lewis, I joined the game about a month before you did (and I come from the UK too). I decided to enter one of these aforementioned "saturated" markets... the clothing business. I sold my first item of clothing on the 27th november... it was the only thing I sold all week (and only went for about half the cost of the vendor spot I was renting at the time, iirc!)

But, you know what... I stuck with it, worked hard on my product line - and after a few months, I'm doing great! OK, it's somewhat vulgar to talk figures... but my SL "job" is already pulling in more weekly spending money than I earned as a graduate fresh out of university (albeit 15 years ago!). The market is most definitely *not* saturated.... all you need is the right combination of talent and attitude.

Seriously mate... take the chip off your shoulder and you might be surprised at what you can achieve.
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