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Linden Lab thinking about printing money and selling it... |
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Hiro Queso
503less
Join date: 23 Feb 2005
Posts: 2,753
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05-08-2006 04:46
If the land market is any indication as long as people are willing to buy at or above the cost of them producing it then they think the market can absorb it. And since new lindens cost nothing $2000L/$1US here we come. Well they made the sponge more absorbent by squeezing out the dwell payments  _____________________
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Moopf Murray
Moopfmerising
Join date: 7 Jan 2004
Posts: 2,448
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05-08-2006 04:49
Then if you would not trust UK company law, chartered accountants, solid gold, open tranparency, and exchange traded funds, AND if you prefer to trust inflated Linden dollars made at will, and sold for real US dollars going back To Linden Labs, no one can help you. I haven't actually said that I wouldn't trusty it. I'm saying that the average consumer wouldn't even give it a second glance because (a) the Linden currency is integrated into the interface, (b) any competing currency would not offer more value for money and (c) most people would discount it out of hand because it was, company or no company, resident run. They're the things you have to do something about. Quoting company law, chartered acocuntants, solid gold etc. to your average person here would leave them cold and be of no interest to them. Make it easier to use than the L$ and better value for money and, you know, they'll come running. But the first can't be done and the second wouldn't be done because content creators aren't going to lower how much they earn just to throw their weight behind a resident run currency. _____________________
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Pham Neutra
Registered User
Join date: 25 Jan 2005
Posts: 478
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05-08-2006 05:08
Are you blind? who will pay for these all inworld L$-> US$? there is 700million L$ in the game. Cant you see? where is this over 2 million dollar to convert? You have been playin SL for long time for sure. USD is a real currency, you cant tell people: "Hmmm you had 1000000L$ now you have $3000." Where will this $3000 come from. Your way brings only one result: LL will have to pay over 2 million dollar to residents to buy all L$s in the world. omg people, please think a min before posting.  Nobody is able to stop residents from doing this right now.Anyone can take his or her Lindens, go the LindeX and cash out. Actually, there is at least one resident (very active on these forums  ) whose theory is it, that this is already happening.p.s.: I am not blind yet, but becoming a bit short sighted in the last years. It's no fun getting old, no fun at all. |
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Pham Neutra
Registered User
Join date: 25 Jan 2005
Posts: 478
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05-08-2006 05:12
Then if you would not trust UK company law, chartered accountants, solid gold, open tranparency, and exchange traded funds, AND if you prefer to trust inflated Linden dollars made at will, and sold for real US dollars going back To Linden Labs, no one can help you. why should we create another currency, when there is already a nice one around; the US$ for example? Just asking. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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Just Say No!!!
05-08-2006 05:18
[email]philip@lindenlab.com[/email]
JUST SAY NO!!! _____________________
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Persial Hebert
Crashlander
Join date: 28 Sep 2005
Posts: 33
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05-08-2006 05:30
well, at least we now know what the very silent economy guru Vasudha Linden has been doing all this time. Plotting the end of the Second Life economy as we know it so they can make a few more bucks themselves by magicking L$ out of thin air. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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05-08-2006 05:35
How can that work? Without a market for people to sell Lindens they won't be worth anything. [email]philip@lindenlab.com[/email] You're welcome to sell L$ in the marketplace, IF you can compete with whatever LL's current revenue needs are! JUST SAY NO!!!! _____________________
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Fade Languish
I just build stuff...
Join date: 20 Oct 2005
Posts: 1,760
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05-08-2006 05:40
Yah, let's go with that theory anyway cuz it's the one that'll produce the most forum drahma/outrage/entertainment.  That was my reasoning _____________________
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Persial Hebert
Crashlander
Join date: 28 Sep 2005
Posts: 33
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05-08-2006 05:41
Good point about them already selling lindens, whoever said that!
The question does, however, arise that if dwell is eliminated, what is the advantage of going premium when you can simply rent land on a basic account? Linden Labs gets their money either way, and nobody else should know or care if I'm Basic or Premium, or own land, or how much money I have, or anything else, right? |
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Khamon Fate
fategardens.net
Join date: 21 Nov 2003
Posts: 4,177
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05-08-2006 05:43
Yes, but would the simplicity of not having to maintain an economy at all mitigate any potential los of income that LL would make from not being able to sell L$. _____________________
Visit the Fate Gardens Website @ fategardens.net
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Cortex Draper
Registered User
Join date: 23 Aug 2005
Posts: 406
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05-08-2006 05:57
Someone should make vendor machine for shops that accept both L$ and US$.
The US$ payments would jump to a website and automatically find the page on that site to purchase that product. If these vendor machines are free, many shopkeepers may adopt them making the idea common to SL users. If the US$ price is more attractive than the linden price, buyers may use it Give these 3 options for the shokeeper to set his price 1. he chooses both the L$ and US$ price 2. He chooses the L$ price and it automaticaly calculates the US$ price 3. He chooses the US$ price and it automatically calculates the L$ price. This is a very good option, as it means the shopkeeper doesnt have to ever worry about what the current inflation of the L$ is as it will automatically update his prices. Problems I forsee are 1. transactions in lindens are very easy at the moment, so jumping to a website would be anoying 2. People using things like paypal may have to pay per transaction. |
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Persial Hebert
Crashlander
Join date: 28 Sep 2005
Posts: 33
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05-08-2006 06:00
But the first can't be done and the second wouldn't be done because content creators aren't going to lower how much they earn just to throw their weight behind a resident run currency. I really don't get it. Why would they do this? How could they sell Lindens any faster than they are now without destroying the value of Lindens? And then who'd buy them? Do they just think there's enough stuff already in the game, so the economy doesn't matter? |
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 06:02
Why is this even being discussed? We should NOT have to compete with Linden Lab to SELL our fake money in order to monetize or efforts! The simple fact that MOST of our monetization goes to PAYING TIER is ENOUGH! MORE THAN ENOUGH! Farther, Linden Lab already sells PLEANTY of L$ via stipends. I WILL NOT compete with Linden Lab in the currency market any more than I already do! I SIMPLY WILL NOT! JUST SAY NO TO COMPETING WITH LINDEN LAB TO SELL YOUR CURRENCY! NOT THROUGH WORDS, BUT THROUGH ACTION! What can we do? Well, I think that it is now time for one of the following: 1. A second world currency, created and managed by residents. 2. A USD micropayment transaction platform, created and managed by residents. Who will rise to the occasion? I will help with the programming, if needed/desired, but I do not have the free time to administer such a beast. People could always use SLExchange and their credit card payment method. |
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 06:03
Someone should make vendor machine for shops that accept both L$ and US$. The US$ payments would jump to a website and automatically find the page on that site to purchase that product. If these vendor machines are free, many shopkeepers may adopt them making the idea common to SL users. If the US$ price is more attractive than the linden price, buyers may use it Give these 3 options for the shokeeper to set his price 1. he chooses both the L$ and US$ price 2. He chooses the L$ price and it automaticaly calculates the US$ price 3. He chooses the US$ price and it automatically calculates the L$ price. This is a very good option, as it means the shopkeeper doesnt have to ever worry about what the current inflation of the L$ is as it will automatically update his prices. Problems I forsee are 1. transactions in lindens are very easy at the moment, so jumping to a website would be anoying 2. People using things like paypal may have to pay per transaction. www.SLExchange.com ?? |
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Kazanture Aleixandre
Here I am.
Join date: 5 Oct 2005
Posts: 524
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05-08-2006 06:12
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Paulismyname Bunin
Registered User
Join date: 29 Nov 2005
Posts: 243
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05-08-2006 06:13
Pauli, the question with your - or Anshe's - suggestion for another currency for Second Life is not only one of trust. That is important, no question, but why should we create another currency, when there is already a nice one around; the US$ for example? Just asking. I would have no problem using the US Dollar Pham but many business opperations in Second Life would. There are issues with gambling and many other sl business ventures that may find it a little difficult to cope with dollars. The reason being is that SLs servers are located on US soil. US law prohibits many such ventures. (I am UK based) A new virtual currency albeit with real life fungible value would be a way around that issue Regards Paul |
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Paolo Portocarrero
Puritanical Hedonist
Join date: 28 Apr 2004
Posts: 2,393
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05-08-2006 06:15
OMGzzz, where's the poll?
For the record, I vote no. (Like that really matters.) _____________________
Facades by Paolo - Photo-Realistic Skins for Doods
> Flagship store, Santo Paolo's Lofts & Boutiques > SLBoutique |
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nimrod Yaffle
Cavemen are people too...
Join date: 15 Nov 2004
Posts: 3,146
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05-08-2006 06:21
Why is this even being discussed? We should NOT have to compete with Linden Lab to SELL our fake money in order to monetize or efforts! The simple fact that MOST of our monetization goes to PAYING TIER is ENOUGH! MORE THAN ENOUGH! Farther, Linden Lab already sells PLEANTY of L$ via stipends. I WILL NOT compete with Linden Lab in the currency market any more than I already do! I SIMPLY WILL NOT! JUST SAY NO TO COMPETING WITH LINDEN LAB TO SELL YOUR CURRENCY! NOT THROUGH WORDS, BUT THROUGH ACTION! What can we do? Well, I think that it is now time for one of the following: 1. A second world currency, created and managed by residents. 2. A USD micropayment transaction platform, created and managed by residents. Who will rise to the occasion? I will help with the programming, if needed/desired, but I do not have the free time to administer such a beast. *Grins and waves to Shaun* _____________________
"People can cry much easier than they can change."
-James Baldwin |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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05-08-2006 06:28
OMGzzz, where's the poll? For the record, I vote no. (Like that really matters.) There is no need for a poll, or a vote! Email [email]philip@lindenlab.com[/email] and JUST SAY NO TO COMPETING WITH LINDEN LAB TO SELL YOUR CURRENCY! _____________________
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Surreal Farber
Cat Herder
Join date: 5 Feb 2004
Posts: 2,059
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05-08-2006 06:47
2. A USD micropayment transaction platform, created and managed by residents. Tossing out the first ball... I've been saying this is the answer to the $L instability for a long time. SLB and SLEx could be early adopters by adding this feature to their already existant system. SLEx already shows purchase values in USD even though you have to convert to $L for the transaction. One way it could work would be you open an SLB or SLEx with a minimum USD deposit. Your micropayment purchases are then charged against it. It would keep credit card/Paypal fees reasonable. If they want to avoid escrow issues, then make it purchasing a "gift card" or something like that where you buy $20 at a time or something. There are 3 main problems to solve that I see: -Any legal issues -Programming issues -Expanding operations in world, not just on the web. _____________________
Surreal
Phobos 3d Design - putting the hot in psychotic since 2004 Come see our whole line of clothing, animations and accessories in Chaos (37, 198, 43) |
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Moopf Murray
Moopfmerising
Join date: 7 Jan 2004
Posts: 2,448
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05-08-2006 06:55
Wouldn't they, if the L$ starts falling fast enough? Isn't that what you're worried about? No, I can honestly say I'm not worried either way to be honest. Even if the L$ suddenly falls, and even if you get some major content creators to dump sales in L$ for this new currency, what's going to happen? Well, people will be getting a lot more value for their L$ when they buy using them, so they're less likely to want to go to another currency where the value for money isn't so good. Plus, you'll get others selling cheaper in L$ and grabbing market share from those who dumped the L$ in favour of this other currency. You see, the L$ is in a position of 100% acceptance and absolute dominance. Trying to break that would be foolish. I really don't get it. Why would they do this? How could they sell Lindens any faster than they are now without destroying the value of Lindens? And then who'd buy them? Do they just think there's enough stuff already in the game, so the economy doesn't matter? My guess is that stipends are on the way out. I doubt this will also mean that tier prices are lowered (I'd be really suprised if that happens). I always thought that the stipend I got for being premium was a perk of paying, not a right because I'm paying. But that might just be me. But, at the end of the day, constantly trying to balance this false economy looks like it's getting harder and harder. Dump the L$ and let's use US$. Then they don't have to worry about an internal economy - it will cease to exist and that won't be detrimental in the least. _____________________
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 06:59
Tossing out the first ball... SLEx already shows purchase values in USD even though you have to convert to $L for the transaction. Gah I thought we could buy items using a credit card from SLEx.  I'll go remove my suggestions. |
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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05-08-2006 07:00
Tossing out the first ball... I've been saying this is the answer to the $L instability for a long time. SLB and SLEx could be early adopters by adding this feature to their already existant system. SLEx already shows purchase values in USD even though you have to convert to $L for the transaction. One way it could work would be you open an SLB or SLEx with a minimum USD deposit. Your micropayment purchases are then charged against it. It would keep credit card/Paypal fees reasonable. If they want to avoid escrow issues, then make it purchasing a "gift card" or something like that where you buy $20 at a time or something. There are 3 main problems to solve that I see: -Any legal issues -Programming issues -Expanding operations in world, not just on the web. I agree. It is time that we get started on viable USD alternatives, before it is TOO LATE! Will you rise to the occasion? _____________________
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Starax Statosky
Unregistered User
Join date: 23 Dec 2003
Posts: 1,099
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05-08-2006 07:06
I agree. It is time that we get started on viable USD alternatives, before it is TOO LATE! Will you rise to the occasion? But I'm Spartacus!!! |
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Keiki Lemieux
I make HUDDLES
Join date: 8 Jul 2005
Posts: 1,490
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05-08-2006 07:25
Emailing Phillip. This is a bad idea.
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imakehuddles.com/wordpress/
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