LindeX Default Sell Exchange Rate

I think the default exchange rate for selling Lindens on the LindeX Currency Exchange web page should be set to zero or at the "Todays Low" amount. As it is now, it is set to the "Today's High" amount. (edit: or the "Best buying rate"

A lot of people do not realize that you can change this setting. On my first time using it I also just left the default setting not knowing it can be changed or understanding how it can effect the market for Lindens. Using this default setting gets you the least amount of money for your hard earned Lindens.

In order to get the best return on your Lindens this value should be the "Today's low" value and not the "Todays high". Looking at the Market Data I can see that the value of the Linden is declining and I think that this setting can be a major contributor to this.

Your poll makes an incorrect assumption. The default value is not the daily low. The default value is the current lowest value of $L. If $L sold at 300$L/US$1 during the day, but the current lowest value is 265$L/US$1; you will see the default value is actually at $L265/US$1. This value makes alot of sense, because it is the fastest value to sell $L at without ripping you off and giving you less than everyone else. The value is constantly changing though. The daily high may never be reached again for weeks on some occasions, and on other occasions many people may come in and underbid you making you not sell anything that day even at the default rate. The time you need the money in and the desire to get the most possible value will conflict making each person need a different strategy in how to get their $L sold. Either way, you should keep a constant eye on the market throughout the day. It costs nothing to cancel your order and place at a different rate. If you don't keep an eye on the changing of the market; you may not get your $L sold in a timely fashion or at the best possible value.

I never said it was the daily low. I said it was the daily high because for about the last week that I have been "keeping an eye" on the market data, more than once I have seen the default sell value set to the same value as the "Today's high" value. But it may be that it is actually set at the "Best buying rate". That works well for a buyer and for a seller that wants to get his Lindens sold quickly but the effect is to eventually see the best buying rate climb and the value of the Linden decline.

The default value should not be set based on a value the will give you the fastest (and lowest value) return on your Lindens.

Yeah, I see now the Lindens consider what I consider to be low as high. I would consider 300$L/meter2 lower than 250$L/meter. I like $L/$US better than $L1000/US$1, but I wish they would flip the graph at least. As long as you label it right; it would make more sense.

That aside though, the daily low and high are too easy to influence on purpose. All I would have to do is sell US$1.00 worth of $L at an extremely low exchange rate every day, and cause every new person to sell at a rate that will never be bought. I do not think that the default should be daily low or high. The way it is now, if I set at too "low" a rate; the default rate doesn't change. If I sell cheaper than everybody else; my $L quickly disappear as people take advantage of the discount. I think it is best as it is now, since it is harder to push around on purpose.

Maybe setting it to zero would force people to take a good look at the data and make a more intelligent decision.

I see we only have a few people who voted.

If we can get more people to vote, maybe the Lindens will change this.