Linden Lab thinking about printing money and selling it...

Cancelling out money sinks......lovely.

Have seen no indication that Ll will print L$ and sell,alot of speculation going on here....look at it this way for example...we download anything we pay LL for this service do we not...so we pay they get who is to say they do not ahve right to sell L$ they have made in this fashion...printing machine what they need it for,200,000+ residents if half them do downloads...well you do the math

Ahhh, I understand it now. Thanks for clearing that up.

So what's happening then?

I was kinda hoping you might know

After doing the math(six beers + 1 shot) I have determined that:

1. Robin made a post about stuff.
2. The event dudes are happy and want to see misery and death to the content dudes.
3. I think Enabran may need to check into a rape center.
4. Wands will soon be 6 cents and come in different colors.
5, The stipulends are ending because of dwell and DI.
6. People will create really small currency, we will need microscopes to buy stuff.
7. [email=philip@lindenlab.com]mailtohilip@lindenlab.com[/email] is Philip's email.
8. The investor's that invested 11 million USD, used it to buy $L.

So when you add it all up we get 36 x 7 =252. I guess it wasn't as bad as we'd thought.

So somebody has L$3,300,000,000 in their account? Did they invest it in a Ginko account?

P2

. I think that it is very important for someone in charge to control the money supply. And I know that I have enjoyed buying $L to make key purchases.

One can only hope that they know what they are doing. If you keep printing money, people will just raise their prices, resulting in hyper-inflation. A better policy would be to collect a tax from people, and then sell back the money. But that would be evil!

The federal reserve doesn't make money by printing money. Only 3rd world dictators do that, and they end up getting bailed-out by the IMF. If LL wants to make some real money, they would start contracting out their services to residents, or collect a tax. And by tax, I don't mean user fees.

Shouldn't there be a cycle, where the money comes in, and the money goes out. All LL does is create money. What if they wanted to take it out of circulation?

Shawn, I like the idea of the USD micropayment system. If I could bypass Linden $ alltogether... hmmm!

Thanks!

Well, at the end of the day, LL has to become profitable.

I suspect it would be either this or increased tier fees.

A precious metal backed micropayment system would be very interesting and quite innovative.

I've got one more or less set up. I thought twice about opening it though, due to the possibility of legal issues. I fear that it may never make enough money to recoup the cost of legal advice, even if it does prove ok to run.

A more level playing field? REALLY? I don't think so. If LL begins to bill for services in L$, you can COUNT on them being the single biggest earner of L$. This will also make them the single biggest SELLER of L$!

Many people complain about having to wait in line behind "the largest sellers" of L$, who "constantly drive down the value". If any of you think waiting in line behind a land trader or two can be a pain, just wait until you see what it'll be like to wait in line behind Philip converting L$ into USD to monetize HIS efforts!

Email [email]philip@lindenlab.com[/email] and JUST SAY NO TO COMPETING WITH LINDEN LAB TO SELL YOUR CURRENCY!

Obviously my statement that it is more of a level playing field for them to sell Lindens that they at least earn via services rendered than it is for them to sell generated Lindens is clear and logical. More level as in slightly less bad. As I indicated, I would think it very likely that this would still further devalue an already weak L$, perhaps substantially. I am not in favor of the idea.

The Linden Dollar is going into the crapper...
These executives at LL sure have no concept of
economics. Whomever they hired as the Econ Guru
might as well have been the HaHaBoo Man on the
streets of the SanFran Wharf.

LL is going to sell newly minted Linden Dollars
direct to the public for some fixed cost? Puhlez...
Talk about Inflation. So not only will Linden Dollars
wind up in the economy from Stipends, but also from
direct sales from the printing press..

All I can do is laugh at anybody holding vast quantities
of Land or L$ Cash... It will soon be declining in price.
Enjoy the worthless wisdom of LL... Kingdom of Inflation.

One can only Wish......

You can tell how bad LL has blown it when no one argues with RBD.

So true....

Maybe LL is planning on letting tier be paid in Lindens.

Arguing with RDB makes about as much sense as arguing with that slightly drunken loudmouth in the pub, Jon.

If the money gets too valuable, they will help stabilize it and make it worth less.

Awesome. Can't wait.

I haven't read through all the posts, but could this be the gate way for LL to accept payments in L$ so they can resell it and control how much L$ there is on the market?

Also...will this be opening up LL to problems within the gambling area? If they are setting the market value of the L, isn't that saying the L$ is worth US dollars?

Stuck in a stand by and watch mode again :-\

hmmm, this pretty much sucks... I can think of no way to put anything positive on this whole spin...

Except maybe that those who thought stipends would be the downfall of SL being wrong...

Agreed, Ricky. Plus, once LL applies a 'real value' to the $L, would there not be certain Income Statement and Balance Sheet implicatons in terms of booking Revenue from Sales of $L, Expenses from Purchases of $L, along with a Cash Equivalents (the calculated value of $L's translated to $US) post to Current Assets based on the value of the $L's On Hand at month end?

On the Liabilities side of the Balance Sheet, there would need to be entries to book Provision for Potential Devaluations of $L's during reporting periods.

Like you said, 'Can't have it both ways...." I would assume that also applies to the accounting principles.

Somehow, it strikes me as a significant fundamental difference between a third party engaging in the buying and selling of $L's versus the buying and selling of $L's by the entity that can also 'create/print' the currency. It would appear that LL could have a real conflict of interest in terms of its ability to control both the supply and the value of the currency and, therefore, its ability to generate profits from manipulating the currency.