L$4,000,000 @ L$315

All right, you have made me laugh, your not a troll as I might have thought, I did not mean to be too personal........well not too personal.....

But Lewis it is not for us to question Phillips sexual preference, after all he is not John Prescot or Bill Clinton.....that is the absolute ruler of all he sees. He is entitled to a private life..

do you mean tier donation pyramid schemes?

Reminder: The MARKET will determine the best price.
If you don't like the price, appeal to the high power (Linden Labs)
to fix their economic policy so the market steers in the direction you like.

Ok everybody quit looking for a bad guy here, there isn't one. Look at this trade, it was the last one executed at L$315 / US$1.00.

300541 Limit Sell L$45,000 L$36,918 L$315 / US$1.00 2006-05-20 20:10:59 2006-05-21 21:03:15 user_cancel US$117.22 US$113.09

It was executed between 21:30 and 23:30 on the 20th of May. At 23:30 2006-05-20 there were 13 orders totalling L$481,472 including the remainder of my 45K offer. At 23:00 on the 21st of May there were 35 orders totalling L$2,328,797. Currently there are 50 orders totalling L$3,772,415. That doesn't constitute a conspiracy it is just plain market psychology, there are a large number of people wanting to sell at L$315 / US$1.00 thats all.

What I don't understand is why they don't understand. I can tell you as long as 315 to 1 is over 3 million, it won't be touched for weeks unless someone pulls it down to a lower level. It was over 4 million this morning and someone has canceled some at this amount already.

"I'll guarantee you that that L$4 million didn't come from some basic account just saving stipends too. It came from one of the big SL businesses (don't ask me which, I dunno)... So stop blaming the stipends for problems of your own making."

If those basic account holders spent their L$50 buying things from those big businesses, then yes, the stipend is behind it.

If those basic account holders had no stipend and instead bought their Lindens off of Lindex, then you'd see that roadblock at L$315 bought up very quickly, and the rate would settle.

Musuko.

Basic account holders are unlikely to purchase substantial amounts of Linden dollars imho as (in the main) they are here trying to get something for nothing or just playing what they see as another game.

I accept there are exceptions but consider this to be a good rule.

This excludes people who rent land rather than purchase as in some cases that can be considered a viable alternative to purchase especially if the rent is paid in Linden dollars

Ok... so my renting a small 768m² plot makes me a 'more-than-Basic, but less-than-Premium' user.

I still manage to make more than what's needed to cover rent in any given week, and I tend to hold it.

I also build small items, occasionally seeking help with scripts (which I've yet to fully comprehend, but I'm getting there).

All my items are priced relatively inexpensively, and those prices will not change. If sales (ha... a total of one. Whoop-de-do... *fingertwirl*) let me cover that, I'll consider myself a success.

And with my current savings, were I to pull it all out of Ginko, never buy a thing, and not make a single L$ aside from my 50/week, it would take 3.26 YEARS to go broke (balance of L$0).

Now, were my Ginko'd savings enough to make , in interest, the required L$300/wk, I could 'retire' and let the interest pay my rent on that alone.

However, I don't sit idly by and watch the world go. I get out, interact, play Tringo, build things, etc.




Now, to you two GIANT FLAMING IDIOTS, ReserveBank 'I'm right there, but can't see it infront of my nose' Division and Jamie 'Everyone's an "osterich" (BTW, you trying to call people Austrian?)' Bergman:

I've said this once, and I'll say it again:

The L$ has only one value: 1/10 of a sound, texture or animation upload.

Anything beyong that is what you can agree to.


To Jamie the Freebie Reseller specifically, as RBD seems to be nearing the right line of thinking:

Having come controls on the LindeX is NOT Socialist. It is actually a GOOD thing. That's right. Let me repeat that:

It is a GOOD thing.

The controls, however, MUST be minor, but will do one of two things:

1) Help guide the L$ back to the 300 mark, or

2) Keep the slide in check.


Myself, while I will never cash out a penny on LindeX, would like to see controls as follows:

(Note: GR means Going Rate: the average between lowest and highest number of L$ to the US$, weighted SLIGHTLY by amount at any level. Possibly one 'point' per L$50K or L$100K)

Part 1: Buy requests should be limited to L$GR - (L$GR - 1) (so you can buy OR sell at 1 to 1, if you want. Stupid, yes, but possible under this system) through L$GR + 10 (so you can set up an order to catch some cheap L$ when it hits), defaulting to L$GR.

Part 2: Sell requests should be limited to L$GR - (L$GR - 1) (see above for explanation) to L$GR + 5 (so if you want to sell quick, you still can; you just won't affect the 'value' much), again defaulting to L$GR.



The way I understand it now, you simply type in how much in L$ you want to buy or sell, and the rate you desire, and it goes until someone fills it.

Like any plan, this has its pros and cons:

+ Slowing slide, or even turning around the 'value' of the L$.
+ Allowing for supply and demand shift.
+ Buy and Sell at will.

- Gamability. Throw up huge numbers on either end of the allowable spectrum to weight the average. Would require someone with a fatload of L$ doing nothing.
- Gamability. Won't stop people from selling at L$GR + 5 in large quantities to sell quick or push 'value' down. Requires someone willing to take a US$ hit.


Just my... let's see... with conversion factored in... L$6.

"Basic account holders are unlikely to purchase substantial amounts of Linden dollars imho as (in the main) they are here trying to get something for nothing or just playing what they see as another game."

I am not here to get nothing for the things I am making. That just isn't fair. So why should I give people things I have made through hard work and creative flair in exchange for useless currency?

In the end, all I would have to do is raise me prices to compensate for the loss of value caused by the dilution of the currency, which in turn pretty much negates the value of the stipends entirely.

Where I may have once charged L$270 for something, I'd now have to charge L$315 for the same value.

Actually, it'd be more than that, seeing how the US dollar itself has slumped drastically since 2003, and I need my money in Sterling, but that's by the by.

Musuko.

I will agree partially to this. Basic accounts should have a stipend life of 30-60 days. Then nothing. By that time they will know if they want to upgrade to premium or not.

"I will agree partially to this. Basic accounts should have a stipend life of 30-60 days. Then nothing. By that time they will know if they want to upgrade to premium or not."

Something like that sounds sensible. After a certain period of time stipends are no-longer helping new players.

Musuko.

Please be seated, Miss Bergman. The correct spelling is "Ostrich".

Unlike premiums the basic players don't pay for the stipend, and while I recognize the need for a lure to draw in new players, there needs to be a draw for the new players to buy premium. By that timeframe, they will know the following:

1. Do I want to upgrade to premium?
2. Am I happy coasting as is?
3. How do i make an income?

Now.that ebin said, I'd limit a basic account to selling only so much on the lindex a month. Not the 2000 USD limit, more like 10USD. If people want to make a living, or suppliment income on SL, then they can surelyinvest in the game to get that return. -And- the 10$ can pay for your first month..

Sure enough as predicted none of those Lindens sold at 315 today. Only purpose it served was to create a wall of some sort or panic. Lindens need to create some way to deter this from happening. I'm sure someone will come in here and say let the market decided or whatever. This is not good when someone can do that though with no intention to actually selling any of those at 315 to 1.