I have a lot of L$ to sell and just dont know what to do?

I have been saving my L$ ( another acct ) since the day I started and have 4 Million in split in various accts.

Last time I looked the rate was $3.7 for 1000L$ now I find its $3.00????

I remember when It was $4.04 !

Its lost 1/4 of its value in about 1 year.

People are panic selling undercutting the lowest price and Im scared now.

I wont undercut anyone but should I sell at the same rate?

I'd much prefer to sell in one lump sum and have been offered $12,000 for the lot.

Sad thing Is I was working it out as $14,000 based on $3.7 for 1000L$ now with this all time low record Ive lost $2000

I thought about selling it on ebay but then ebay take their cut and then paypal.

Can anyone recomend some-one or the best way to sell...I darent hold out any longer im afraid despite whatl LL are saying 'all talk & no action' is just driving it down more & more.

Why cant they Cap it? Stop this silly undercutting?

Eventually its their necks on the line long term...if the L$ has little to no worth like the TSO money ended up like ppl WILL leave stop creating designing....move on etc.

LL are the ONLY ppl who can control this mess and yet all I hear is ' oh its nothing to panic about' (hence it continues to drop ...from Xmas to now Easter ) we will NEVER recover now I see this...I had assumed after the Xmas dip things would pick up again ( after all the L$ ppl were offloading for Xmas was bought up) but looking at Lindex's charts it never recovered after Xmas at all.


I have not been following it just saving my L$ and I am scared to sit on it any longer but also dont know what to do with that amount of money.

Can anyone give me some advise on how to shift it at the best rate and avoid as much 'fees' as possible?

I would really appreciate it.

Sarg

Well, if you have that much money I suggest you start with a double post.


Then decide for yourself if the L will go up or down, and sell or hold based on that. Forget what you paid for the lindens; that's irrelevant now.

Post 400K every day at about 14:00 SL time at the then current rate +1. Your money should be gone in 10 days at a pretty reasonable rate (better than 3US$/1000L$).

As to the L$ decline. If you managed to build up a stockpile of 4M L$ without needing any of it back getting 12.000US$ might as well be just as good as getting 14.000US$. Note also that you did not lose 2000 US$ as such unless one of these things happened:
- you bought 4M L$ in the past and resell it now
- you gathered the 4M L$ in the past and have then sit on it for months doing nothing
Obviously both cases would require you to be a fool and I can't imagine anyone holding 4M L$ being a fool.

LOL

I sat on it!!!! (aaggghhhh!) I thought exchange rate after Xmas would pick up and having seen places in world that hold your money for you ( banks cant think of the name) then I assuemd I wasnt the only one

I was saving it for a deposit on a house you see...as a poor saver of money i felt it was safer tied up in SL rather than where I can get my hands on it.

Another thing I can get 12,200 from IGE and 12K off anshe but what if ( and this is just a theory) they play the ' I never got it game' does SL support these 2 people in buying & selling L$ regarding proof of transfer of funds?

Trust me how I made my L$ is one thing How I deal with the L$ I make is another I am stupid dumb and an ass!

Just been to ebay couple of ppl selling on there at FAR better prices that I can get from LL or anywhere but Id rather just sell one lump sum that ass about with bits.

I put 250K in Lindex yesterday ( said my limit was 250K a day?) at the going rate +.1 I refuse to undercut ppl...and drive this market down...if we ALL just nugded it up a few points each day we'de get it back up again but ppl dont see beyond that day or their needs...they dont see the bigger picture that if everyone 'undercut' the value of the L$ would be worthless and eventually they'd be left with a load of monoply money

IDIOTS...It gets me so angry!

LL should send a messege of the day out pointing this out instead of saying ' ooohh lets not panic! '

GGGGGRRR!!

Sarg,

Don't be so hard on yourself. You obviously did something right to earn these L$. What you need is to learn how to manage your wealth once you acquired it. Just like in the real world, if you have a business and made a lot of USD and USD depreciates, you are going to be hurt. It's sad to see so many talented people in SL with very little financial knowledge.

---tiger.

I would be very surprised if Anshe Chung would be dishonest in a transaction like that, I would suggest you IM her if you want any help.

Alternativly if you IM me in world to confirm your ID, I will ask her for you if you like.(we know one another)

Finally I offer an investment service within Second Life at my merchant bank in Plush Zeta, you may want to consider that if you are prepared to continue to invest

I sell at the going rate just as I convert spending money at the going rate every other day when I'm out of country. It's true that the linden has lost 1/4 of it's value this year; but that's not going to improve any time soon. Consider that even a nickel's difference per thousand is only $200 difference out of $12,000 when selling four-million lindens.

I would keep it with the bank(ginko), they are good inflation fighters. In the short run from week to week, inflation may outpace the return, but in the long run, ginko returns have outpaced inflation. Although with ginko slowly lowering its rates, that gap is closing, but for now ginko is better. I also tend to be optimistic, even though I don't expect the L to ever increase in value, I expect inflation will eventually slow down to a more manageable level, allowing the ginko returns to contiously outpace inflation.

Sarg,

If you have an account over at SL Exchange you should be able to sell your Lindens for 287 on the USD. It seems to me I saw someone buy about 80K Lindens yesterday on the spot market and pay as much as 276 on the USD. The only problem right now is that market is rather small and buyers outnumber sellers by about 10 to 1 if you look at open orders. Also the total volume runs between 100K and 200K lindens so you wont be able to move your Lindens very fast but you could park about 500K over there and see if anyone will give you a better exchange rate than the 300 to 1 now seen on the LindeX.

Both IGE and ANSHECHUNG Studios Ltd. are officially register RL companies based in China, the only country that I know of that legally recognize value of virtual property.

Anshe,

I have to take issue with this. As we all know, china is currently not even respecting intellectual property, how can you convince us that it respects virtual property. Anyway there are maybe laws in china but there is no or arbitrary enforcement of laws. If you tell me your companies are based in the US or UK and are regulated under these jurisdictions, I might put some faith in that.

---Tiger

To be honest, I would be more worried about buying off an unknown resident than selling to a known one. I've been sold L$ that have originated from a hacked account before now; I lost out on that (through choice), and returned the money to the original account via LL.

I'm not suggesting that you're not to be trusted Sarg, just putting a few things into perspective