200K USD transactions yesterday?

on a 7 day basis, that is 350M L$. Last report on the economy page is that we had a 130M week for 10/30.

That would be a record, alright!

Anyone know if the stats on the home page are now accurate?

Doesn't this question presume that at one time they were?

Actually, Lawrence said he was going to fix this so they would be. He had looked into it and gave the impression that it was an oversight and not so much as a real attempt to deceive.

Given that the numbers were lower than what they are now, I can't imagine that this is not the case.

I've done a lot of tracking of the transactions that show up on the various community web pages, and while no doubt a lot of that is gaming related transactions, its interesting to compare historically, if not in terms of actual magnitude.

In otherwords, the economy may not be huge but its growth seems to have accelerated.

I am not an economist, nor do I play one on SLTV, so I'm not qualified to help develop a working approach to objectively valuing and understanding the SL economy.

The download data in tabular form available through the homepage (click on "more" near the right-side box with recent land sales data) includes two tables with weekly data from the week ending July 4, 2004 through week ending October 30, 2005. It does not say, but I'm presuming that the data is in Lindens.

This includes some data which (assuming for the sake of argument it is approximately accurate) helps us understand the economy and its size. (If you download these, be aware that although the download files are suffixed as XLS files, they are actually in HTML. I was only able to view them after changing the suffix on the file).

I'd be interested in quantitative analysis by someone with a background in applying statistics to this data. It may be hard to estimate "size" of the economy from this, because much of it is transactions between residents. It also does not indicate the amount of money in circulation or the average price of a stable "market basket" of representative goods.

It does report that in the four weeks ended Oct. 30, 2005, land transactions between residents totalled L$40 million, and object sales between residents totalled L$57 million. When gifts between parties were added, the total was L$150 million, for four weeks ending almost three months ago. $150 million for 28 days is about L$5 per day. Someone please correct me if somehow I'm reading this data wrong.

US$200 thousand @ L$266/US$ is L$53 million. Growing from L$5 per day in October to L$53 million a day in December seems like a bigger jump than I'd expect, if it can be confirmed.

Land seems to be the only scarce commodity for which there is some granular data, and that suggests that while transactions in land have increased dramatically since July 2004, the average size of parcel and the averge land price per meter has been relatively stable, suggesting that the Lindens have issued "new" land as needed to prevent either gross inflation or deflation in land values.

Of course, this tabular data is almost 3 months old, and the "free trial" is drawing large numbers of consumers into SL. When the fourth quarter data comes out, it will be fascinating to see what macroeconomic effects the change to the teleporting system has on the overall value of land.

Who is doing confirmable econometric study of the SL economy?

Hey frank, you should check out

http://planet0.planet-zero.org/~chromal/slpop

This is being grabbed from the home page.\


Also, the entry is: Week Starting (actually, isn't that week ending?)

2005-10-30 130,051,240 500 23.98 4.77 6.05 254

http://secondlife.com/community/economy.php

So, 130M is ~20M per day.


Still a jump from 20M to 50M is pretty intense.

Blaze, as I study the tabular data, I agree that "total sales" is a better gross measure at this crude level of review. Looking at the last four weeks on the "Second Life Economy" table, the total sales was about L$500 million, or about L$18 million per day, or US$67 thousand a day.

Going from L$18 million per day to L$53 million (tripling) is easier to understand, in light of the near doubling of the number of accounts and increase in simultaneously-in-world figures.

Some of that is going to be "circular" payments back and forth, round and round, as in Tringo games where you bet some, win some, bet some more and win some more, round and round before leaving the table. Judging by the popularity of Tringo, Slingo and the like, a significant amount of the transactions could be those "empty calories."

I suspect Tringo and other games are especially popular with the "free account" folks because its free entertainment. That might drive the churn rate faster than the real economic growth. But that's just a hypothesis.

Yes, the homepage is now accurate, it shows the total of all L$ transactions updated about every 30 minutes. Also the Population number is also now more accurate, it used to include some additional accounts that we exclude from our internal reports, so over the course of the past week I slowed down the rate of advance in order to get the numbers in sync.

Unfortunately, the data on http://secondlife.com/community/economy.php is a bit different... the "Total In-world Sales (L$)" ignores some types of L$ transactions. It is likely that I will soon get a chance to improve that page... when I do I'll probably add a new total column sourced in the same way that the data on the home page is. We recently went created a list of interesting statistics we would like to make available so we do have plans to give you all more information.

Cheers,
Lawrence

(sigh) Well, I get the sense you're trying to get away from massaging. Hopefully I'm not just being naive




Any chance you can tell us what's not getting counted on the economy page? Do you forsee the economy page getting updated soon?

Thanks for the info, it helps.

whats happening... its up to 137k today???

Things seem to be growing by the day!

omg!!!