US$ Spent Today question

On the front page of SL there is a display titled US$ Spent Today and an amount listed next to it.

What affects this amount?

Thanks in advance to those who can help me understand this.

It used to be the case that the "USD spent today" was actually counting up to the previous day's total spent (L$ exchanged in-world * USD/L$ exchange rate), incremented at random intervals. That is to say, the "total spent today" is increased periodically in such a way that by today at 11:59 PM SL time, the figure on the front page is equal to the total amount exchanged as of yesterday at 11:59PM. I'm not sure if they've actually tied that counter into the transaction database yet, but apparently it was in their plans.

Don't they also count L$ sales on LindenX?

I think I need people to speak slow to me on this so I can understand.

Here is what I understand, the amount of money however it is calculated is based on the previous 24 hour period.

The money listed on the front page is from people exchanging Lindens to Dollars?

The money listed on the front page is from people using the LindeX to exchange Linden to Dollars?

The money listed on the front page is from people using various services and LindeX to sell lindens for dollars? ( I forget who else sells money now that LindeX is here)

This amount has nothing to do with in world $Linden trasactions?

Thanks for your patience.

As I understand it, it is the inworld transactions of $L. I do not think it includes any Lindex transactions.

The amount on the front page is based on the previous 24 hours.

The amount on the front page is based on the equivalent US$ value of all in-world transactions.

That means if I buy a plot of land from you for L$10,000, then the counter on the front page goes up by about $36 (L$10,000 / 275L$/US$). Similarly, if I pay you L$100 to play your blackback table, then win L$200, the counter will go up by about $1.10 ($0.36 for when I pay you to play, and another $0.73 when I win). So, a few back-and-forth transactions (Tringo, anyone?) will have a small net transfer of wealth overall, but will show a large effect in the "transactions today" number.

I give Joe Av 1000L

Joe Av gives Lori Av 1000L

Lori Av gives me 1000L


The front page updates to reflect 12$ ? (assume 1000L is = $4)

Yeah, I think it's sort of a Gross Domestic Product for SL. A fairly useless number all told, but it gets real big because it counts all economic activity.

In addition, there es is no documention anywhere, that really describes which transactions are included and which not (Lawrence was hinting at some selection criteria a few weeks ago.)

The number in itself is faily useless. Trends might be interesting, though.

But, given the fact that there were long periods where this number staid nearly the same for every day, followed by periods of wild fluctuation I would not trust this specific piece of data very much.

Pretty much everything. It's just a total of the all the L$ transactions for the current day, converted to US$ using the previous day's average LindeX exchange rate.

Related posts:
/130/9f/76099/1.html#post790874
/130/b8/85344/2.html#post886265

Cheers,
Lawrence

Thanks. I now understand. I appreciate everyone helping me.

If it is all $L transactions, then it would include $L passed between business partners, or given as gifts or loans? Or is it only the kind of transactions that would come up in Account History? Also, does it count $L paid to Linden Lab for things like Classified?

Thanks!
Nim