Supporting alternative currencies?
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Eggy Lippmann
Wiktator
Join date: 1 May 2003
Posts: 7,939
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05-16-2006 04:03
Why should we only have one L$, and suffer the instability of its value?
Why can't we also have a true micropayment system that would take U$ or E$, with their value fixed at a certain fraction of the USD or EUR.
I'm betting a lot of creators would be interested in using a currency system that would not change relative to their native currency... to the point where this fancy L$ contrivation might become obsolete.
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Aodhan McDunnough
Gearhead
Join date: 29 Mar 2006
Posts: 1,518
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05-16-2006 04:11
LL would be wise to avoid having linkages to different currencies as it would need to become an accredited FOREX trader for that to happen. Trade that would happen in-game would become necessarily linked to the Foreign Exchange market.
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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05-16-2006 04:47
Currency value is based on trust. Trusting LL more than individuals, my linden prices will remain the same. Other currencies will purchase in ym shop at 100 times the linden value. And I get my lindens before I send the item.
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Good freebies here and here I must protest. I am not a merry man! - Warf, ST: TNG, episode: Qpid You killed my father. Prepare to die. - Inigo Montoya, The Princess Bride You killed My father. Your a-- is mine! - Hellboy
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Jon Rolland
Registered User
Join date: 3 Oct 2005
Posts: 705
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05-16-2006 08:22
From: Jonas Pierterson Currency value is based on trust. Trusting LL more than individuals, my linden prices will remain the same. Other currencies will purchase in ym shop at 100 times the linden value. And I get my lindens before I send the item. What a scam lol |
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-16-2006 10:03
From: Eggy Lippmann Why should we only have one L$, and suffer the instability of its value?
Why can't we also have a true micropayment system that would take U$ or E$, with their value fixed at a certain fraction of the USD or EUR.
I'm betting a lot of creators would be interested in using a currency system that would not change relative to their native currency... to the point where this fancy L$ contrivation might become obsolete. Eggy, I would think of SL like it's own country (only having 1 currency). The more currencies we have the more 'unstable' they will all be. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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05-16-2006 11:08
From: Nexus Nash Eggy, I would think of SL like it's own country (only having 1 currency). The more currencies we have the more 'unstable' they will all be. What we need is the currency to be backed by something of value. Gold, Land, something... Lets say L$1,000,000 is equal to one Sim. So at any moment, a player with L$50,000 could exchange it for a Sim. This forces Linden Labs to only issue enough currency they are willing to backup with a Sim. |
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Newfie Pendragon
Crusty and proud of it
Join date: 19 Dec 2003
Posts: 1,025
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05-16-2006 14:39
From: Jonas Pierterson Currency value is based on trust. Trusting LL more than individuals, my linden prices will remain the same. I trust LL only as far as they've proven to be able to act in a responsible manner. After the demise of GOM, that trust has been completely evaporated. On the other hand, I've always treated my L$ as play money, so it's never been a worry to me how it fluctuated. On the gripping hand, I'm of the personal opinion that a privately-owned currency is fundamentally unable to be reliable, until such time that it is released and no longer subject to the whims and ways of a conflicting interest. - Newfie |
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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05-16-2006 15:39
Never said they were completely trustworthy. Just more trustworthy to me than a land baron or another user.
_____________________
Good freebies here and here I must protest. I am not a merry man! - Warf, ST: TNG, episode: Qpid You killed my father. Prepare to die. - Inigo Montoya, The Princess Bride You killed My father. Your a-- is mine! - Hellboy
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Red Mars
What?
Join date: 5 Feb 2004
Posts: 469
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05-16-2006 16:23
From: Eggy Lippmann Why should we only have one L$, and suffer the instability of its value?
Why can't we also have a true micropayment system that would take U$ or E$, with their value fixed at a certain fraction of the USD or EUR.
I'm betting a lot of creators would be interested in using a currency system that would not change relative to their native currency... to the point where this fancy L$ contrivation might become obsolete. I thought you didn't like There? |
