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Who's the idiot... |
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 05:44
Let me start by saying "Yes I know it's a free market, free market == woot, the market will gobble them up and so on and so forth" but come on... Who the hell is the idiot posting at 315? I understand if you leap frog... but this is the 'ala matrix style' building leap! There was this huge gap from 306 to 315... I just don't understand some people I guess...
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Lewis Nerd
Nerd by name and nature!
Join date: 9 Oct 2005
Posts: 3,431
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05-11-2006 05:52
I wonder who put the L$350 on there.
Lewis _____________________
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 06:08
Indeed... why post that low when a simple leap frog or a 3 hour wait will get your money sold off... It boggles my mind.
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Smith Fizz
SF-Labs
Join date: 20 Jun 2005
Posts: 51
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05-11-2006 06:13
Is a group of people trying to crash the market or somthing???
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Owner of SF-Labs
SF-Labs sells some of the few massive fleet ships in SL with some of the best movement available! Located in Blackwater |
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 06:33
Nah, if you are trying to crash the market you don't do it by putting peanuts on the low. You would probably have to dump increments of like 18~20 million at 310 320 330. You would also have to wait about 2 days for the prices to adjust on all markets before proceeding to your next notch (ie 310). What we are seeing is just people with no concept of market trading.
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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05-11-2006 07:03
I wonder who put the L$350 on there. Lewis Yesterday it was L$2000 to 1, I just wish I could see these offers but they are gone so fast you would have to be on constantly just to catch a glimpse. Open buy orders are supposed to be comming. |
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 07:53
Buy orders would rock, however I would suggest LL to bring the margin down from 3.5% to maybe... 1%. This would increase day trading and probably multiply the trading volume. So it doesn't matter if you cut the margin down to 1% if you anticipate trading volume to quadruple! 3.5% just isn't viable for day trading.
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Adam Zaius
Deus
Join date: 9 Jan 2004
Posts: 1,483
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05-11-2006 08:02
Buy orders would rock, however I would suggest LL to bring the margin down from 3.5% to maybe... 1%. This would increase day trading and probably multiply the trading volume. So it doesn't matter if you cut the margin down to 1% if you anticipate trading volume to quadruple! 3.5% just isn't viable for day trading. I think the fee is there for Credit Cards which charge ~2%, plus Lawrence's salary. Maybe move that onto a buyer using a credit card? _____________________
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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05-11-2006 08:04
Buy orders would rock, however I would suggest LL to bring the margin down from 3.5% to maybe... 1%. This would increase day trading and probably multiply the trading volume. So it doesn't matter if you cut the margin down to 1% if you anticipate trading volume to quadruple! 3.5% just isn't viable for day trading. I think the 3.5% is to cover the 3% charge LL has to pay credit card companies when they accept buy orders from residents buying Lindens with credit cards. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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05-11-2006 08:06
I think the 3.5% is to cover the 3% charge LL has to pay credit card companies when they accept buy orders from residents buying Lindens with credit cards. It would be better if Linden Labs just accepted 1-Time Deposits of checks to hold in our accounts so we can bypass the need for a 3.5% free... _____________________
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 08:16
Ah I didn't think of that fee.
As for LindeX (sorry to Jamie and company from GOM...) but LindeX should look like GOM. I want to see all the day trading come back. But with that 3.5% fee it's not gonna happen, or at least it won't work very well. _____________________
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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05-11-2006 08:24
Ah I didn't think of that fee. As for LindeX (sorry to Jamie and company from GOM...) but LindeX should look like GOM. I want to see all the day trading come back. But with that 3.5% fee it's not gonna happen, or at least it won't work very well. Wouldn't that be nice.. But Linden Labs hates "Traders". They only want a basic trading platform so clueless users can just issue simple buy or sells. Whereas GOM was geared more towards traders to help facilitate trading volume. Since GOM was paid per transaction. The more trading, the more money GOM made. LindenX is more of a "freebee service" that LL is giving to users. They have no motive to cater to traders.. _____________________
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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05-11-2006 08:28
It would be better if Linden Labs just accepted 1-Time Deposits of checks to hold in our accounts so we can bypass the need for a 3.5% free... I think I read somewhere that PayPal deposits are being investigated to implement open buy orders. |
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CJ Carnot
Registered User
Join date: 23 Oct 2005
Posts: 433
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05-11-2006 08:46
They only want a basic trading platform so clueless users can just issue simple buy or sells. Wouldn't they be content creators seeking to benefit from the work on which LL relies to attract residents to SL or the residents wanting money to spend on it ? It's hardly fair to label them as clueless as I imagine the ability to exchange USD and LD was envisaged primarily for these people and not those wanting to play trader in the first place. |
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Chris Linden
Program Manager
Join date: 10 Jan 2005
Posts: 149
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05-11-2006 10:04
I think I read somewhere that PayPal deposits are being investigated to implement open buy orders. We are in the process of implementing limit linden buy orders, and therefore also market sell USD orders. However, this has nothing to do with PayPal deposits. For limit linden buy orders we will require money in advance for the trade. This new LindeX feature should be live in the next week or two. |
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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05-11-2006 10:20
Chris, is there a way to deposit USD directly into SL?
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Paulismyname Bunin
Registered User
Join date: 29 Nov 2005
Posts: 243
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05-11-2006 10:38
We are in the process of implementing limit linden buy orders, and therefore also market sell USD orders. However, this has nothing to do with PayPal deposits. For limit linden buy orders we will require money in advance for the trade. This new LindeX feature should be live in the next week or two. Hmm, will we be able to sell Lindens we do not currently own, providing a sufficent US dollar reserve is maintained to buy them back at some point? (evil smile) |
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Trajan Somme
Registered User
Join date: 17 Nov 2005
Posts: 10
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05-11-2006 10:48
Yesterday it was L$2000 to 1, I just wish I could see these offers but they are gone so fast you would have to be on constantly just to catch a glimpse. Open buy orders are supposed to be comming. ...well, ... not constantly... but close. *sheepish grin as I reflect upon how much time I spend at the wee hours looking for such opportunities...now THAT is idiocy, but so far worth it....*. hehe--at least it has better odds than a SLingo machine.... All kidding aside... Broadband and _very_ fast typing speeds help. But then,... I've worn out more than one keyboard's F5 key to date.... (Suddenly feels like the idiot... oh well, it was fun.) Cheers.  |
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Nexus Nash
Undercover Linden
Join date: 18 Dec 2002
Posts: 1,084
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05-11-2006 11:14
We are in the process of implementing limit linden buy orders, and therefore also market sell USD orders. However, this has nothing to do with PayPal deposits. For limit linden buy orders we will require money in advance for the trade. This new LindeX feature should be live in the next week or two. Ah nice. I guess for the new players to SL the instant buy order will fill the lowest sale order. That's how I would do it anyways. Good to hear that LL is working on that. Thanks for the update Chris! _____________________
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Chris Linden
Program Manager
Join date: 10 Jan 2005
Posts: 149
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05-11-2006 11:38
Hmm, will we be able to sell Lindens we do not currently own, providing a sufficent US dollar reserve is maintained to buy them back at some point? (evil smile) Sorry no, just as it currently works, if you put a sell linden order we take the linden's from you immediately. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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05-11-2006 12:07
We are in the process of implementing limit linden buy orders, and therefore also market sell USD orders. However, this has nothing to do with PayPal deposits. For limit linden buy orders we will require money in advance for the trade. This new LindeX feature should be live in the next week or two. When can we start Short Selling the Linden Dollar? _____________________
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Svar Beckersted
Registered User
Join date: 14 Apr 2006
Posts: 783
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05-11-2006 12:16
When can we start Short Selling the Linden Dollar? LMAO, yeah let in there. |
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Mad Wombat
Six Stringz Owner
Join date: 21 Jan 2006
Posts: 373
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05-11-2006 12:25
When can we have an official stock market? I want to invest my L$ which are piling up in my Ginko account.
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Ordinal Malaprop
really very ordinary
Join date: 9 Sep 2005
Posts: 4,607
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05-11-2006 12:28
When can we start raiding the pension fund, converting it into outside assets and then declaring bankruptcy?
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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05-11-2006 12:57
When can we start raiding the pension fund, converting it into outside assets and then declaring bankruptcy? Thats Capitalism for you... Finally the Capitalist have realized that "Mini-Socialism" in Corporate America leads to financial ruin.. Can we say "General Motors"?? _____________________
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