Limited open system.

So... this isn't any sort of suggestion, just have been reasing posts and a couple caught my eye, merged and became this idea. I'd like to see what folk think about it.

Right now we have a totally open sysem, tapped into SL and RL roughly equally, market forces in all thier complexity doing the unpredictable to it.

Someone sugested fixing the sell price, but that wouldn't work well as it would become a long, long wait instead of a loss at the market when interest was slow, like now.

Also there is understandable resistance to the elimination of stipends along side and equally understandable resistance to having that much L$ pumped into the pool every month.

So, here's what came to mind:

Partially open system.

In order for this to match the current system to some degree, the price of the L$ would be 1USD to 400L$. (2.5USD to 1000L$) This matches the current assumed price of L$ from a 10USD a month premium account (The other 5USD going to land tier).

The idea is one can buy L$ direct from LL. These L$ would be produced from thin air, but the USD would go sit in a backing pool for those L$. Premium account holder's stipends would simply be a monthly automatic buy.

The L$ would then be used in-world as they are now. A person could spend them on the various toyus that caught thier eye... and if they wanted more they could buy more, if not, then not.

Then those who choose to could sell thier L$ back to LL. Either at 420L$ to the USD or for some flat fee... the point being that it frees some of the transaction from the pool and into LL's till to help make sure they can pay thier bills. L$ returned for USD would be destroyed.

In-world this should be a self-balancing system and ties the L$ more directly to the percived value of what's being offered.

Now, there'd be no way of making the transition to this sytem short of LL footing the bill to back all the current currency or wiping the board of L$ and screwing everyone who bought L$. I simply don't see either happening. So, again, this isn't a suggestion, just a hypothetical.

Enjoy killing it

Hi, Jillian!

Will this address the problem of there being more people wanting to make money than there are people wanting to spend money?

That's the only problem I see.

Yes, actualy. Just not in the way a select but vocal part of the group wanting to make money would like.

Thank you Starax, that was rather insightful.
People could solve that very easily by spending some of the money they earn on advertising and marketing.
Promote the usage of Lindex. Teach people how to use it.
Evangelize SL in general. Pitch it as a fun place to be in and a place where you can buy stuff rather than a place to make money.
Don't sit on your ass and wait for the government to do it all for you. Successful people are proactive.

Not gonna kill it Jill, this is basically what I suggested all along. LL set the exchange rate at a fixed rate. Then set system flags making sure no one messes with it using e-bay or some such. Easily done since even though the USD changes hands on paypal through e0bay they STILL have to log in and transfer L's in SL.

There'd be no need to give a flying rat's butt about people trading on eBay or anywhere else. That's part of the limited open. I rather doubt it would be a popular thing to do with a fixed cost and backed L$.

Well Jill, by now it should be painfully obvious that the RBD brigade will oppose anything that fixes matters and doesn't line thier own pockets with OUR work and our efforts. And of course since LL has already done so it's prety much proven fact that they will cater to whatever that richest one percent asks of them and let the rest of us slowly dwindle off. I wonder what they're gonna do when they are all that's left and none of the content is around anymore because someone has come up with a better way elsewhere. That's the nice thing about VR. We don't have to have a rebellion. All we gotta do is put our heads together and create a better world on another server.