The L$ just hit 299/1$

Is this the reason all the out of work doomsayers have to post from alts? lol

*enjoyin the ride down see ya'll at the bottom*

L$240 / US$1.00 11 L$2,502,750

ZOMG! BUY BUY BUY! I mean SELL SELL SELL!

/me runs around like a chicken with its head cut off

Hehe my sympathies to anyone who has to sell now they are losing alot of money.

What? I got it wrong again?

*sighs*

Uses excess Lindens to stuff mattress, instead....

Actually, this is where I saw the Linden stabilizing *right before* the great announcement that LL was allowing itself to sell Lindens, which drove the market into a selling panic. I suspect we'll be here for a while. Although, watch the usual suspects scream as it gets weaker against the dollar on Monday and Tuesday, which has been the usual behavior for weeks. (And to be expected, given the weekend is the peak period for people to be in-world, so a slight drop-off afterwards is not surprising.)

I think we'll be pretty good until LL makes another boneheaded announcement that will once again drive the market into a panic. I have no faith that this will not happen...and I'm too young in-world to be this cynical.

Well my real question is - who is buying all these $linden or have the panic sellers run out of $linden to sell?

Remember kids these $Lindens have a tendacy of ending up in the same pockets eventually and it comes down to how quickly they plan to sell them again....

I'm loving this... (ok, so I'm gloating a little... can you blame me?)

JB decides to predict a hardcore drop that still hasn't arrived... (dunno about anyone else, but I feel cheated out of it. I was so looking forward to it)
RBD keeps screaming about inflation and how it's just a dead cat bounce... (where's the inflation and why is this cat leaping ever upwards?)
PF tries the usual "ZOMG SELL SELL SELL!!!!!111!" tactic that JB was so fond of, insisting that it'd never strengthen past 301... (did we see 299 in the topic title? Why, I do believe we did )


In light of this I'd just like to say a few of things...

First... not much point trying to panic people with the demand being so much more than supply...
Second... I seriously do not think we'll see 500/1 any time soon... if ever.
Third... I figure that this lot proves that our resident doomsayers are very much out of touch with the reality of the SL economy.
Fourth... though the value may weaken slightly on Mon/tues due to people trying to sell their stipends, (and it's just a "may"... there is no certainty that it'll be anymore than a slight blip) the value will recover fairly quickly.... so no doomsaying when it falls a couple of points guys. We're wise to it and you'll just embarass yourselves.

The only way we will be here for more than a day is if lots of sellers panic. It's a sellers market right now it will stabilize whereever we decide to let it.

Bought an extra mil but did it on the limit buy side. I did watch someone(s) do a controlled dump of a couple mil at 300 but the market ate through that.

My view on all of this is that the value will continue to increase at the same pace, even through the stipend tuesday. People seeing the trend of the linden will be most likely reluctant to sell as they most likely wish to get the most for their linden. Those that buy every day (and people have bought 9 to 15 million L$ each day) will continue to buy, more so now hoping to get a better price before they have to spend too much more. All in all I see the value increasing steadily untill people begin to flood the market once again, however now that there are day traders to pick up large quantities of linden it is sure to stablilize.

Cheers,

Kirk

Also, we'll probably see less of a slip Mon/Tuesday because Tuesday is a holiday in the US and I suspect more people will be online as compared to the typical Mon/Tues, thus a higher demand for Lindens.

I'm with Kirk I don't think we'll see a slip maybe a reduced rate of change but I see no reason except nervous sellers for the L$ to stop anywhere near 300.

297 and dropping.

Sorry, I wasn't clear -- I was agreeing. I was just trying to point out another reason why I thought the Linden would be stronger than usual on Mon/Tues -- the holiday.

Better SELL now! The market will correct itself soon! Back to 315 we go! SELL SELL SELL!

And rally over, for tonight at least. A few bigger orders got placed 297-299.

TROLL TROLL TROLL

Hopefully the L$ will recover in due course so that those who buy get a good deal again.

Lewis

One of them is by Mr/Mrs 800k. He/She regularly places sell orders of L$ 800,000 undercutting the other sellers. It will be gone in the morning.

I find it rather perplexing that the usual suspects have absolutely nothing to say here.
Has the market beaten back the trolls?

A one-sided and wrong conclusion...

The more L$ you get to the $, the more likely it is that content creators will raise their prices... ergo, no-one gets a good deal.
The more $ you get to the L$, the more likely it is that content creators will reduce their prices... ergo, everyone gets a good deal.


Please try to understand the implications of currency fluctuations before coming to a conclusion about them.

Reduced some already.

This is the lash back from the unstable economy you cheered all winter. Prices go up as the linden weakens now you pay as it strengthens. And I'm gonna love every minute of watching you moan about it.

Nah, I bet they are just on vacation.

And I also am guessing that the reason the L$ is gaining value is because all the folks that like driving the value down are on vacation as well.

Maybe they are one in the same?