Lindens at 308 per U.S. Dollar --- Who's the Idiot?

Chip:

Put it up for sale at L$250 and let me know how long it takes to sell.
We've heard the same song and dance at previous valuations and still
the price moves lower. One with any sense would realize that its best to
get out at what you can, than wait for what you want.

It looks easy to me to manipulate the market. Just post 1 million Lindens up for saleand watch everyone else go one or two under that. Then wait a few days and remove the 1 million and post them even lower. With everyone in such a rush, the 1 million Linden sell orders never sell.
This also brings up the question I've been wondering. Why post 1 million Lindens up for sale at one price. I've never seen them sell since everyone else cuts in line. If they are to be sold, post 250,000 Lindens up for sale 4 times in a week and they sell much faster that way. 1 million Lindens acts as a road block and anytime a person puts that much up the market goes lower by 1 or 2 points because no one wants to wait.

Argh... 'upward' as in the climbing number of L$ to the US$... sigh.

With all the talk of devaluation, I mis-interpreted your statement as
saying they were going to be turning the slide around and restore
value to the L$ in order to make good on their recent VC. =)

Well shut my mouth. (Careful with the G word there... btw.

--

A little Theory I had a week back:

/130/be/98240/1.html#post975406

Smells like it

Nope. Just like last week - the numbers simply don't support your theory.

I said that on purpose. I said that to Lee Linden on the phone once and he almost had a cow. On the other hand I saw a sign at the in world Linden Job place that said Second Life is a game and much more.

I won't dispute that Second Life is much more than just a game. In fact from my point of view I think even the Lindens are near clueless as to what exactly SL is and could be. If they'd respond to user complaints, actually fix some bugs instead of adding more buggy features, and generally treat Second Life as a business, people would probably take it a lot more seriously.

Right now I've noticed that at times in some places, SL is a visual chatroom. It's a great IM client too. Just needs integration with the other IMs like MSN and AOL. Or for that matter allow clients like AdiumX and Trillian to connect. SL would also make a nice 3D browser. In fact with a little modification SL could become the ultimate web client. It already runs on Linux, MacOS, and Windows.

And back to the subject again...
I've noticed that every time someone bitches about the price of Lindens in the forum, someone else (or not?) sells off another batch at some stupid price that's about 1/2 the going rate. On the other hand, you could just as easily play the other side and buy some for L$250/$1. In fact if enough people screw with the stats, they would become meaningless and/or force interaction from the Lindens. Not saying you SHOULD, but you COULD. I'm gonna sit back and watch the show.

Nobody can corner the L$ Market. Because Linden Labs holds
the trump card with their L$ Printing Machine.

Looks like our economy is slowly dying....

The linden dollar has NEVER EVER has this low value before.

Sorry but selling lindens on GOM was way better.

Right now the linden dollar drops in value EVERY DAY.
In 3-4 months the linden dollar will be at 400l's /1 dollar...if things keep going like this.
and so on...till you nearly have to give away your linden dollars for free.

I've been sitting here thinking of what would really cause the market to be flooded with the L as fast as it's going. There is the A$ theory, we know what would motivate that...but then I sat back and thought a little more, what else could motivate this large scale assult on the linden? So I have a few more theories just for the hell of it.

1. The socialists. They don't want anyone to be any richer or poorer then the next, so they have been saving up their lindens like mad....and once they managed to save about 12million linden, they decided to put it all on the market.....if it seems like the buyers were out in force, they would dump another million a few points lower then what it was before, pulling linden from reserves they had up for sale at much more expensive amounts that they figured would either sell and make them a huge profit to spread their anti capitalism message, or save them for an evil take over of the market.

2. The capiatalists: They are worried the value of the linden will become worthless, and they really want to dictate how much they make on any givin day. So for months now, they have all been putting all uneeded L$ in a reserve fund waiting for the day when they ammased enough L$ to destroy the market bad enough that LL would yank the dwell bonuses, the stipends, and any other form of "Welfare/entitlement" type program, effectivly running the socialists out of town, their rivals out of town, and anyone else they don't want to look at any more. Once they have accomplished this, they will simply take all the linden back off the market and put it all up for sale for L$1 per US$1

LOL Highly unlikely, but it gives the conspiracy therorists other directions to go in so we don't have the same arguments every day

That's not strictly correct. From the GOM archives:

2005-09-16, 297.2974
2005-09-17, 295.9201
2005-09-18, 293.1484
2005-09-19, 295.3536
2005-09-20, 299.4435
2005-09-21, 298.6591
2005-09-22, 297.2195
2005-09-23, 291.2331
2005-09-24, 291.6701
2005-09-25, 288.2257
2005-09-26, 292.5462
2005-09-27, 302.5511
2005-09-28, 297.3084
2005-09-29, 283.1691
2005-09-30, 294.6147

So, in the few weeks prior to closing our doors, the exchange rate was hovering in the mid-to-high 290's. The all-time high for the daiy average exchange rate was L$302.55/US$ on September 27th, 2005.

Definitely getting close though...

n/m

Well you're forced to sell your money in small amounts instead of saving up for a larger amount.

Because tomorow the linden will be even lower in value then today.

And you're forced to sell your money at the 'today's avarage' price or your money simply won't sell.

Or you can't wait till the 24 sellers sold all their money and then HOPE no one else adds more money to the group who's selling for 300l's per dollar...

Wich kinda is impossible

This Is A Game!!!!!

today's high is just scary.

Strong reason right there to hold onto that trump card.

Best buying rate: L$301 / US$1.00
Last trade: L$301 / US$1.00
Last close: L$301 / US$1.00
Change: L$0 / US$1.00
Today's volume: L$8,187,945
Today's open: L$301 / US$1.00
Today's high: L$900 / US$1.00
Today's low: L$299 / US$1.00
Today's average: L$300.51 / US$1.00

L$900 for a dollar. Are people seeing this the wrong way and think they're getting a deal? Or was this just someone selling a couple hundred Lindens for a quarter? Just ask me and I'll buy everything at L$900 per dollar and resell at the real market price.

GOM Was KING!!!!! LindenX can't hold a flame to GOM.


Yeah, The L$ is going down the tubes and Linden Labs with their
endless printing machines help the downward spiral without a
care in the world..

Just like Globalization in the Real World. Its a Game.
A financial game of money. Regardless of it being
Virtual Currency to buy eLand or RealWorld currency
to buy food for the dinner table.


WILLIAM McDONOUGH: We have to improve the rules of the game. You want the financial system essentially to be like the shock absorber in a car. When you hit a pothole the car still bounces, but have you ever been in one that didn't have a shock absorber? If you have a good, strong shock absorber, at least you get through the pothole and you're still driving in the same direction that you thought you were when you hit it.
Commanding Heights
Battle for the World Economy


Just like in real life, Second Life needs a new Virtual Financial Model.
The current model is a complete failure. The economy of
Second Life is the epitome of Mudflation (aka: Hyperinflation)



How do you spell Mudflation? (S.E.C.O.N.D. L.I.F.E.)

The cost to purchase L$s is not rising, the cost of selling them is. To purchase L$1000 at L$300 to US$1.00 is a hell of lot cheaper than purchasing that same amount at L$250 to US$1.00. On the other hand, it is more expensive to sell that L$1000 at L$300 to US$1.00 than it is to sell at L$250 to US$1.00.

I think it's the same idiot that did that :
L$320 / US$1.00 1 L$1,062
L$299 / US$1.00 1 L$35,000

Who keeps posting sale orders at 295?? All it does is act as a road block.

What Socialist price would you prefer they set it at?

I think you totally missed my point.

ok, let me tell everyone something, you dont need to keep raising the amount of L per $. I always sell mine like 5L bellow the LOWEST and it sells. Just give it a little more time, be patient, you dont need that money right away its not like your gunna die if you dont get that extra dollar.

Whats wrong if somebody wants to sell now? How about if
you apply your remarks to all those folks who didn't get their
posted sale executed at L$250 or L$275?

Sellers will sell for whatever they can get. Buyers will buyer
for whatever they can get. Supply and Demand will dictate the
price. Not some morale judgement call on posting a sale order
at some price to try and hold up the downward cash of the L$