Help?

I'm sorry but I'm havind difficulty wrapping my head around the new Limit Sell thing. Can someone explain to me the difference between that and market selling and the impact individually and as a whole? In layman's terms if possible... Because the way I see it, I don't see it any better or worse than the last one. ^^;

Thanks in advance for those kind enough to explain it to me!

I think the new feature is "Limit Buy."

Market Sell: Automatically sets the sell price to sell quickest.
Limit Sell: You control the sell price. Set it to whatever you want.

Market Buy: Buy at the cheapest rate.
Limit Buy: Set the rate you'll pay for L$'s, and hope that someone will see your buy offer and set a "Limit Sell" at the same rate.

Not quite. Actually you're hoping that someone will enter a MARKET sell that will fill your limit buy.

I think I get it...

But how does this impact the whole economy? Is this any different from the way we usually do things?

It just adds the same flexability for those who want to sell NOW that those who wanted to buy NOW have always had. And, it allows people who want to buy at their own price to set their own price. And, it allows traders to put limit orders on both sides of the market and offer tons of additional liquidity to buyers and sellers.

Overall it will be great for the economy to have a normal 2-sided currency market. More flexability and more liquidity sound like plusses to me.