$L Price dip

What on earth did someone do to cause that price dip a day or two ago. Someone had to dump an enormous amount of $L extremely cheap to cause the average dot to end up so low. Anyone see what happened?

Yup, yesterday somebody put a batch up at $500L/$1US. They didn't last long.

btw, last night at 9:33pm eastern the amount available at that price was just under $200,000L. At 9:35pm eastern there were $44,536L available at that price. Moments later they were gone as well. How many there were before then, I do not know.

A certain land baron might be trying to manipulate the market to cause a crash that yould devastate a certain other business.

An L$ crash would be a dream come true for Ginko, as they have all their money outside L$.

Which is good if your talking about financial stability, remember the L$ has no inherit value and can be easily manipulated by land barons saying dumping large amounts on the exchange as we saw when gom was closing and anshe dropping off the leaderboard, while when used outside the currency is fairy stable

Someone with millions and millions and millions can afford to dump a few hundred grand to manipulate the market ... interesting complexion /that/ puts on recent events.

It actually takes a couple million, and the ones that I witnessed do it before are hated for other reasons and they aren't land barons. Why would land barons want their investment to suddenly be worthless?

Umm, I don't think we are facing a crash. I was just trying to figure out what mistake was made. You don't dump $L to manipulate the market, you put $L on the market where it won't sell to manipulate the market. I don't think there is anybody stupid enough to dump more $L at 500$L/US$1 just because one person made a mistake. The $L has been steady for a while. Calm down, the sky stopped falling. The sun came back up, and what do you know the scary black became blue.

Well what happened on gom when a large amount was posted was that newer people were forced to offer at an even lower price if they wanted to sell, the person who then posted the millions cheap could then buy up the people posting below them, and withdraw their own cash without loosing any, its a good way to buy lower if people are willing to post below you.

Yep, but in my opinion the people doing this were not land barons, although they do have a currency exchange of their own.

I think this was a test of market manipulation, to prove to someone that they are a factor in the Second Life economy.

Here's the scenario:

Someone with $L to burn dumps a sizeable load at half of current market value. They look and see if the $L will just be consumed immediately by the buying populace (as it was in this case), or find out if this causes a panic on the exchange.

My money says that whomever did this was trying to find the 'trigger point' to determine how many $L need to be posted at such a devalued rate to incite others to dump theirs as well, thus creating an instant devaluation of the $L.

Yeah, it sounds like a wacky Dale Gribble-grade conspiricy theory, but I can assure you all that this does happen in the real world.

That's all I can say ATM as there's a CIA helicopter landing in my back yard... SHI-SHAA!!

shish shish sha!

Wow, without a shred of evidence a certain business girl is accused of manipulating the market. On one side the Anshe-Chung-is-Satan crowd are wigging out, on the other side, the Ginko-is-a-pyramid-crowd are wondering if a certain business boy is cutting and running. All without a shred of evidence either way.

Paranoia will destroy ya......

I was chatting with TheDragonMaster, and setting off a rapid scare to the general public can contribute to a crash, remember when the banks closed because of a scare. When people all rush to pull their money out, that is whats going to crash it.

Yes, but as you can tell, this scare has gone one for four days now, and tahnks to the free advertising from Anshe, our customer base has gone through a rise of new accounts. But anyway, this has failed in trying to ruin Ginko, I am tired of seeing all of these posts, I had said once before that I was not going to post anymore.. but of course, I just have to, though from now on I will try not to, lets see if I can manage it.

Actually, its entirely possible to be on both of those sides.

Although its actually the "Ginko-is-a-ponzi" crowd.

Carry on.