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Over 2,000,000 L$ at 300!!!!! |
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Elde Eponym
Registered User
Join date: 14 Feb 2006
Posts: 159
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03-23-2006 11:10
As Jesrad and me have pointed out a few times before, there is some evidence that there are people purposefully trying to bring the L$ down. Even if this sounds rediculous, there are SL businesses which would profit from such a development. This does not mean that these businesses are involved. Indeed - noting the spread between the average and high prices over the last few days, it's quite obvious that someone is dumping cash at a fairly good clip. The question is who, and why. |
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Jesrad Seraph
Nonsense
Join date: 11 Dec 2004
Posts: 1,463
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03-23-2006 11:10
I want LL to run the bank, hence the term "FEDERAL RESERVE BANK". The Fed' is a privately owned company, not some government agency (well, the Board of Governors is, but the reserve banks are private companies). _____________________
Either Man can enjoy universal freedom, or Man cannot. If it is possible then everyone can act freely if they don't stop anyone else from doing same. If it is not possible, then conflict will arise anyway so punch those that try to stop you. In conclusion the only strategy that wins in all cases is that of doing what you want against all adversity, as long as you respect that right in others.
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Ricky Zamboni
Private citizen
Join date: 4 Jun 2004
Posts: 1,080
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03-23-2006 11:12
Perhaps. Were you the L$ seller, by the way?  Heh. Shortly after we closed GOM, Jamie and I liquidated all our SL holdings. Since then, I've been posting my stipend for sale dilligently every Tuesday to try to recoup the cost of my annual membership. I now have L$1 to my name, which means that if I win my bet with Desmond I will double my currency holdings. So, no. Wasn't me.  |
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Elde Eponym
Registered User
Join date: 14 Feb 2006
Posts: 159
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03-23-2006 11:19
Besides, the stipend is paid for as part of premium If LL used part of the premium each month to purchase $L to pay the stipends with, then yes - stipends would be paid for as part of the premium. But that's not what is happening - the premium stipend, like the basic stipend, is money newly printed each week. The premium stipend does not come from the market, it comes from outside. Thus the economic effects of the premium stipend are equivalent to that of the basic stipend. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-23-2006 11:28
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? Thus spawns the need for shared ownership in SL Businesses via stock to keep ownership and trust diversified.. No one person holds all the keys. It takes a majority vote to do something like by land, increase rates, etc... But LL just refuses to address this needed function... Not to mention. The added benefit of in-world investments would create demand for Linden Dollars. Helping to solve the mudflation problem that exists. _____________________
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-23-2006 11:31
The Fed' is a privately owned company, not some government agency (well, the Board of Governors is, but the reserve banks are private companies). LL would have to grant economic ownership to a 3rd party. Highly Unlikely concisidering how they choked GOM out of the Linden Dollar Trading Business. _____________________
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Elde Eponym
Registered User
Join date: 14 Feb 2006
Posts: 159
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03-23-2006 11:37
I agree it's possible, this looks and smells like manipulation to me. I can think of very few people with that much Linden - and this isn't a sudden thing. For several days (weeks) now, there has been middling sums offered for sale at rates that vary greatly from the market. (Examine the spread between high and average prices.) Then in the wee hours this morning - huge sums were dumped on the market at or near the excessive rates of the past few days (weeks). This smells of long term deliberate action, the number of sellers is too low and the amounts of cash too high. Testing the waters, setting up, winding up - then delivering the knockout blow. |
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Patrick Playfair
Registered User
Join date: 19 Jul 2004
Posts: 328
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03-23-2006 11:40
Has anyone ever even thought for a moment that someone may be wanting to cash out their lindens quick? Maybe they need the money? Awww... your no fun at all Tya. WHat's a conspiracy theorist to do? _____________________
The meek shall inherit the earth (after I'm through with it).
Patrick Playfair |
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Patrick Playfair
Registered User
Join date: 19 Jul 2004
Posts: 328
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03-23-2006 11:51
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. Seeing as how we don't know who sold out, all of this is speculation. Tya is right, people come and go from SL everyday. I left last May and did npt plan to come back. WHat's the 1st thing I did? I cashed out my Lindens (a lot of them!). I was not trying to manipulate anything, nor did I give a rats ass what the market price was. Most any one of us would do the same if we were leaving SL. When the DI checks stop rolling in, I would not be surprised to see a few more big rollers cash in (if they aren't already). _____________________
The meek shall inherit the earth (after I'm through with it).
Patrick Playfair |
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Ricky Zamboni
Private citizen
Join date: 4 Jun 2004
Posts: 1,080
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03-23-2006 11:56
Seeing as how we don't know who sold out, all of this is speculation. Tya is right, people come and go from SL everyday. I left last May and did npt plan to come back. WHat's the 1st thing I did? I cashed out my Lindens (a lot of them!). I was not trying to manipulate anything, nor did I give a rats ass what the market price was. Most any one of us would do the same if we were leaving SL. When the DI checks stop rolling in, I would not be surprised to see a few more big rollers cash in (if they aren't already). Hmmmmm... |
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Merlyn Bailly
owner, AVALON GALLERIA
Join date: 7 Sep 2005
Posts: 576
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03-23-2006 11:57
L$300 / US$1.00 11 L$2,680,346 I can't believe there is 11 "IRL ppl" selling around 240000L$ each. I mean, when you sell/own so much money you DO care of the L$ value and you wait the end of this market abuse/griefing/manipulation/whatever/... 1) Someone have something to do with the 300L$/US$ 2) Someone want to crash the land market I think that ginko will be in trouble in the next few day. Has to be Anshe or one of the other land barons... _____________________
SL used to be a game -- now it's a corporate advertising/marketing platform.
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Desmond Shang
Guvnah of Caledon
Join date: 14 Mar 2005
Posts: 5,250
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03-23-2006 12:02
Heh. Shortly after we closed GOM, Jamie and I liquidated all our SL holdings. Since then, I've been posting my stipend for sale dilligently every Tuesday to try to recoup the cost of my annual membership. I now have L$1 to my name, which means that if I win my bet with Desmond I will double my currency holdings. So, no. Wasn't me. Wah, well... *feels guilty!* I'd consider a payoff of $L 2 over the course of seven years as fair recompense, if I should happen to win and you find yourself in dire circumstances. Yes, I know the $L may slide further, but I've always wanted to style myself as a shrewd risk-taking type - maybe this will support my self-image? Plus, I just have this hunch that your business acumen could grow that $L 1 into $L 3, $L 5, or maybe even $L 15 over such a span of time. _____________________
 Steampunk Victorian, Well-Mannered Caledon! |
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Ricky Zamboni
Private citizen
Join date: 4 Jun 2004
Posts: 1,080
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03-23-2006 12:05
Plus, I just have this hunch that your business acumen could grow that $L 1 into $L 3, $L 5, or maybe even $L 15 over such a span of time. I'll be able to grow it into L$501 next Tuesday.  |
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Rockwell Maltz
Registered User
Join date: 17 Sep 2005
Posts: 34
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03-23-2006 12:06
::flicks ashes and exhales a smoke circle::
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Jesrad Seraph
Nonsense
Join date: 11 Dec 2004
Posts: 1,463
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03-23-2006 12:06
If LL used part of the premium each month to purchase $L to pay the stipends with, then yes - stipends would be paid for as part of the premium. Nonsense. LL holds the magic L$ printing press. They can take your premium fee's US$, issue your L$ stipend, and call it a transaction if they want. And so can I. _____________________
Either Man can enjoy universal freedom, or Man cannot. If it is possible then everyone can act freely if they don't stop anyone else from doing same. If it is not possible, then conflict will arise anyway so punch those that try to stop you. In conclusion the only strategy that wins in all cases is that of doing what you want against all adversity, as long as you respect that right in others.
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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03-23-2006 12:10
Has to be Anshe or one of the other land barons... Nobody in this class of virtual investor would do something so silly. What's to gain? Your hatred for land barons doesn't make them stupid. I think a certain banking reservist type avatar may have bought up a few mil over a few weeks and dumped it, trying in vein to prove a point on a web forum. That av took credit for it, but I don't know if we can believe him/her._____________________
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MeLight Korvin
Im on da Use
Join date: 4 Jun 2005
Posts: 99
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03-23-2006 12:29
Best money sink/solution to the L$ inflation problem in my opinion would be L$ tax on every L$ sale. That way only the those who make money from L$ would take the blow and im sure people won't mind coz in the long range its to their own good, the only problem i c here is implementing this practice netwide (SLX, AnsheChung and other L$ exchange sites)
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Boobs are remote controls for the male brain. Lemmie push some buttons!!!
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Eboni Khan
Misanthrope
Join date: 17 Mar 2004
Posts: 2,133
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03-23-2006 12:35
Anyone think since it is getting near the end of the month, that the people who live off SL are cashing out to pay rent and other RL bills? Does anyone watch the $L at the end of the month and notice if there is a selloff at that time?
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Elde Eponym
Registered User
Join date: 14 Feb 2006
Posts: 159
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03-23-2006 12:45
Anyone think since it is getting near the end of the month, that the people who live off SL are cashing out to pay rent and other RL bills? Does anyone watch the $L at the end of the month and notice if there is a selloff at that time? I don't know about you - but the due dates for my RL bills are scattered pretty evenly across the month. OTOH, April 15th is fast approaching. |
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Eboni Khan
Misanthrope
Join date: 17 Mar 2004
Posts: 2,133
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03-23-2006 12:48
Most people pay rent at the beginning of the month.
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Static Sprocket
Registered User
Join date: 10 Feb 2006
Posts: 157
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03-23-2006 13:22
Most people pay rent at the beginning of the month. But there is a delay for payout, and generally most people like to have the cash in their accounts before writing a check. Paypal with drawl of money out of Linden Labs can take up to a week (if I'm remembering correctly) and then there is an additional delay from PayPal to your actual bank account. So if you needed to pay a bill on any given date, and you were planning on doing it by cashing out Linden, you'd be wise to do it about 10 days before you had to write the check in RL. |
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Red Mars
What?
Join date: 5 Feb 2004
Posts: 469
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03-23-2006 13:23
Agreed. This is the second time already that someone sell L$ at that rate, and that doesn't count a few more times that the rate was sharply dropped by few persons selling lots of L$ at much lower rate than it should be. This has to be controlled. Least thing we want is a few people getting free $USD in their pocket and pull down the entire SL economy....does that sound familiar to the RL scene? So wait .. let me get this straight. You believe that their are people intentionally selling $L at this price to somehow make money... so you want to stop it because ... YOU aren't making money off it too? Did I get that right? Did I miss anything? You want the $L to be sold in a manner that makes you money, but if someone else is making money in such a way that you can't, then that's bad. They're manipulating the market in their favor and that's BAD, so you want to manipulate the market in your favor so that's GOOD. Mmmm ok. I think I understand now. |
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Red Mars
What?
Join date: 5 Feb 2004
Posts: 469
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03-23-2006 13:24
I suggest LL show list of all sells, telling who sell what at which rate. So we can know if it's a manipulation and who did it. Absolutely! I'll bring the tar and feathers!!! Someone bring the rope and torches!! |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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03-23-2006 13:31
Absolutely! I'll bring the tar and feathers!!! Someone bring the rope and torches!! Rope and Torches. That's Racist... Reporting this post to the Socialist Party Ministry for Linden Justice. _____________________
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Eboni Khan
Misanthrope
Join date: 17 Mar 2004
Posts: 2,133
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03-23-2006 14:12
But there is a delay for payout, and generally most people like to have the cash in their accounts before writing a check. Paypal with drawl of money out of Linden Labs can take up to a week (if I'm remembering correctly) and then there is an additional delay from PayPal to your actual bank account. So if you needed to pay a bill on any given date, and you were planning on doing it by cashing out Linden, you'd be wise to do it about 10 days before you had to write the check in RL. Today is the 23rd, the first is almost 10 days away... I have always had my payouts from the Lindex in a few hours. |