Over 2,000,000 L$ at 300!!!!!

It's all gone now. If you don't mind sharing, who bought some, and how much did you buy? I bought about L$600,000.

I saw about $L2.6M of it when it popped out about what, 10 hours ago was it? But... didn't touch it.

I have a stable content business and a stable land business. Becoming a day trader on the LindeX just doesn't appeal to me unless the rates are maybe... 350 in a 285 market.

Calculating the LindeX fee percentage, there was very little real money to be made off this, buying and reselling. In the few hundred dollar range, perhaps.

For me, sitting tight was the right thing to do. I'm not ever accidentally tipping my islands into the sea because I made a 'wrong bet' on a LindeX 'sure thing' and lost my reserves.

So... glad for those that made some money. I do wonder what possible benefit there was for someone to blow a few hundred USD like that. My suspicion: someone set up automated LindeX selling, a third party caught wind of the pattern and tried to manipulate the market during the automated sell-off time. Other than that, messing with the market is pretty futile, I think.

I bought, but its for my own personal spending (shopping is like crack), not for resale after prices go back up. I only bought L$15000.

-Ghoti

I think, if we, the players really, truly want to effect teh value of the Linden, we have to look to the great market crashes and slumps in US history. The government acted in those cases by getting the banks to do certain things, though I would need to research what these were again as I have since forgotten, though in our case, there would be no government intervention. We do however, still have the equivalent of banks, and that is the large and medium sized players (financially).

Getting everyone to work together, without forcing them, might proove difficult. As I recall, the government had to force the hands of the banks to achieve its agenda in RL past.

Money Supply: The amount of money in the economy. Since the money supply is considered by some to be a critical element in determining economic activity, from time to time the financial markets place great importance on the Federal Reserve's reports of changes in the supply. For example, consistently large increases in the money supply can lead to future inflation.




And in Second Life we have exactly that. A never ending increase
in the Money Supply via Stipends. And to appease the people who
must have stipends, all the L$ collected from Sinks every week should
be divided by the population and dispersed accordingly. So the stipend
payouts are not "new" money, but redistributed "old" money. The division
could even be managed based on Premium vs. Non-Premium.

This effect would keep the money supply stable and allow the general
economic health of SL to dictate the proper valuation of the Linden Dollar.

This is a good idea, but as I will point out, there are no real banks in SL that would make any economical difference. What we need is for people to start saving their money, and give them a reason to value the L$. A good way to do this is to have LL open a SL federal reserve where players can put money away in a savings account that will gain interest. this will temproarily remove money from circulation, and stabalize the economy. I know if I were able to put L$ away at say 2% interest/week, I would keep all my money there, and only cash out to US$ when I need it. Right now, I cash out all the time to US$ because I have no other reason to hold onto it!
Now if we use interest money as a new way of trckling new L$ into the economy, we can easily remove stipends and dwell money.

feedback?

Remove the term "LL" from this post, substitute it with the term "residents", find a way to make it work, and I think you'll be onto something.

I can't speak for everyone who bought up some of this person's L$, but speaking personally, the absolute worst possible loss I'm prepared to accept on this trade is $8.03 US. If I'm right, I stand to gain $67.96 US. This return on my outlay beats any bank's annual return by quite a margin, in one day. While I'd of course agree that this upside pales dramatically in comparison to RL forex trades, the potential down side is a lot lower too!

I'm not too terribly worried about $8.03 US disrupting my finances in any discernable way. Besides which, I've certainly had 8 bucks worth of fun evaluating, trading and commenting on this situation, so any monetary gain is just gravy at this point.

Just my take on the whole thing. It's interesting how two people can always look at exactly the same set of circumstances and see them in two entirely different lights. For me, sitting tight was definately not the right thing to do.

I have seen resident after resident try to open banks in SL. honestly, I don't trust anyone with my money unless its LL. I want LL to run the bank, hence the term "FEDERAL RESERVE BANK". Do you honestly think any resident is trustworthy enough to run a bank, and even give interest? I am probably one of the most honest and trustworthy people here in SL, and I wouldn't trust myself if I were some other person. So tell me how a resident run bank would be better than a LL run bank?

There are residents I would have faith in. For some, their reputation is more valuable to them than money, it is their reputation they trade on.

There are residents I would have faith in. For some, their reputation is more valuable to them than money, it is their reputation they trade on.

I agree it's possible, this looks and smells like manipulation to me.

Quite true Shaun, for you (and maybe most) people it would be a shrewd move.

I don't watch the LindeX as closely as many; I do pay attention to it but don't have the day-to-day experience that you and many others do.

Would I ever mistake a real market correction for a sure thing? Odds are, I'd mess up such a bet long before you would. And I don't think I have nearly the reserves that you do to cover the bet (yet! )

Enjoy your winnings, the market seems to have recovered as you predicted and you deserve them.

Reputation is fine, I'm just saying we need something with no risk of someone just taking all your money and running away. I don't care how good of a reputation someone has, I wouldn't give them my money. We need something that EVERYONE can trust and rely on to be there. LL can do it. they have an economist now, lets put him to work!

Has anyone ever even thought for a moment that someone may be wanting to cash out their lindens quick? Maybe they need the money?

Has anyone ever even thought for a moment that someone may be wanting to cash out their lindens quick? Maybe they need the money?

I have seen resident after resident try to open banks in SL. honestly, I don't trust anyone with my money unless its LL. I want LL to run the bank, hence the term "FEDERAL RESERVE BANK". Do you honestly think any resident is trustworthy enough to run a bank, and even give interest? I am probably one of the most honest and trustworthy people here in SL, and I wouldn't trust myself if I were some other person. So tell me how a resident run bank would be better than a LL run bank?

Whoever you are, you accomplished nothing except for losing a few hundred USD. If you remain unconvinced that the free market will resist your attempts to crash it, please try with a few thousand USD value differential next time.

I normally butt out of the economy forum, but i need to butt in. I SELL my lindens. Not for you, not for pleasure not to bring down the economy. I do it to support my sim and other expenses I have online, and recently cause I am going through a separtation and needed the money to move out. I am fortuate the I make money from SL. I am sick of you people whinning.. OMG ITs gonna crash.. etc.. blah blah. People will chose what they want to do with their earnings. NOT YOU. If someone chooses to sell their lindens at a low value compared to others, thats their perogative. NONE of your business. You people must have to much time on your hands to sit and watch a farkin gaming market all day. Get a life.

:mokin' cigar::

Back at GOM, we had a few people who were interested in testing the resilience of the market by engaging in what would be considered "unusual" trading patterns. This could well be an example of someone performing such an experiment. For the cost of a couple of hundred dollars, it's actually pretty interesting to see how the group behaves to such a shock.