Linden Labs should backup their currency with Gold.
That'll fix the problem of them printing new money.
Because every dollar print would require an equal amount
of gold. More or Less making the Linden Dollar worth its
weight in gold.
Otherwise, LL is just printing ePaper as fast as they can
key in the 000s on tuesdays.
Eliminate Uncertainty
But there is no guarantee that if inflation is high it will not go higher... or lower. So there is the uncertainty. The only sure way to eliminate uncertainty is to have no inflation at all and that can only be accomplished by a "Gold Standard".
Under a Gold Standard, the government owns a set number of ounces of Gold and issues currency for that amount of money. The only way to increase the money supply is to increase their holdings of Gold. This forces fiscal responsibility on the Government.
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The Gold Standard |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-05-2006 14:54
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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06-05-2006 15:47
You seem to hold alot of trust in the USD. There is no gold standard for the USD, hasn't been for a long time. Better sell sell sell your USD and hoard your yen.
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mcgeeb Gupte
Jolie Femme @}-,-'-,---
Join date: 17 Sep 2005
Posts: 1,152
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06-05-2006 16:05
Linden Labs should backup their currency with Gold. That'll fix the problem of them printing new money. Because every dollar print would require an equal amount of gold. More or Less making the Linden Dollar worth its weight in gold. Otherwise, LL is just printing ePaper as fast as they can key in the 000s on tuesdays. Eliminate Uncertainty But there is no guarantee that if inflation is high it will not go higher... or lower. So there is the uncertainty. The only sure way to eliminate uncertainty is to have no inflation at all and that can only be accomplished by a "Gold Standard". Under a Gold Standard, the government owns a set number of ounces of Gold and issues currency for that amount of money. The only way to increase the money supply is to increase their holdings of Gold. This forces fiscal responsibility on the Government. LOL |
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Ketra Saarinen
Whitelock 'Yena-gal
Join date: 1 Feb 2006
Posts: 676
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06-05-2006 16:42
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J: You've been to the Factories? DW: Once J: Well they're gone now, destroyed. Main reactor went critical, vaporized the lot. DW: Like I said: Once. There's a banana grove there now. I like bananas. Bananas are good. Robot Lords of Tokyo, smile, Taste Kittens! |
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Joannah Cramer
Registered User
Join date: 12 Apr 2006
Posts: 1,539
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06-05-2006 17:55
Linden Labs should backup their currency with Gold. you are about hundred years behind schedule, but nice try otherwise. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-05-2006 18:08
You seem to hold alot of trust in the USD. There is no gold standard for the USD, hasn't been for a long time. Better sell sell sell your USD and hoard your yen. Yen, Euros, Pounds, Swiss Francs, and Yuan. Cause the dollar is going into the crapper.. No doubt about that.. _____________________
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-05-2006 18:09
you are about hundred years behind schedule, but nice try otherwise. History has a way of repeating itself. http://en.wikipedia.org/wiki/Gold_standard#Advocates_of_a_renewed_gold_standard _____________________
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-05-2006 18:16
you are about hundred years behind schedule, but nice try otherwise. History has a way of repeating itself. http://en.wikipedia.org/wiki/Gold_standard#Advocates_of_a_renewed_gold_standard _____________________
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Stephen Teazle
Jesse Camp stole my gf
Join date: 30 May 2005
Posts: 31
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06-05-2006 20:19
I don't check the forums for weeks and I come back to find RBD is back on his Linden on the gold standard soap box. It's like I never went away. And it's as stupid a suggestion now as it was the first time it was floated. Glad to see some people's sense of reality is as defective as ever.
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Paulismyname Bunin
Registered User
Join date: 29 Nov 2005
Posts: 243
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06-06-2006 03:23
I don't check the forums for weeks and I come back to find RBD is back on his Linden on the gold standard soap box. It's like I never went away. And it's as stupid a suggestion now as it was the first time it was floated. Glad to see some people's sense of reality is as defective as ever. Well Stephen, what do you suggest we use for those of us who are evaluating Second Life as a business and who need a reasonable currency on platform that will not endlessly devalue in relationship to Pounds, Dollars, Yen, Yuan, or Lira |
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PetGirl Bergman
Fellow Creature:-)
Join date: 16 Feb 2005
Posts: 2,414
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06-06-2006 03:32
Linden Lab can by al that are left of my golden ladder and put them in a safe...
 /Tina - EXAKT made golden ladders are from EXAKT store in Verloren.. read more about Sweden National Day at: /invalid_link.html _____________________
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Eggy Lippmann
Wiktator
Join date: 1 May 2003
Posts: 7,939
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06-06-2006 04:27
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Ordinal Malaprop
really very ordinary
Join date: 9 Sep 2005
Posts: 4,607
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06-06-2006 04:33
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Ranma Tardis
沖縄弛緩の明確で青い水
Join date: 8 Nov 2005
Posts: 1,415
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06-06-2006 07:55
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Shaun Altman
Fund Manager
Join date: 11 Dec 2004
Posts: 1,011
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06-06-2006 07:57
Linden Labs should backup their currency with Gold. That'll fix the problem of them printing new money. Because every dollar print would require an equal amount of gold. More or Less making the Linden Dollar worth its weight in gold. Otherwise, LL is just printing ePaper as fast as they can key in the 000s on tuesdays. Eliminate Uncertainty But there is no guarantee that if inflation is high it will not go higher... or lower. So there is the uncertainty. The only sure way to eliminate uncertainty is to have no inflation at all and that can only be accomplished by a "Gold Standard". Under a Gold Standard, the government owns a set number of ounces of Gold and issues currency for that amount of money. The only way to increase the money supply is to increase their holdings of Gold. This forces fiscal responsibility on the Government. Why are you waiting for LL to do this? YOU could do it yourself!  Live up to your name and become a reserve bank, backing each L$ deposited with GOLD! _____________________
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Siggy Romulus
DILLIGAF
Join date: 22 Sep 2003
Posts: 5,711
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06-06-2006 08:03
His parents still need their teeth at this time - so that plan has been put on hold.
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Natalia Basiat
Registered User
Join date: 22 Apr 2006
Posts: 62
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06-06-2006 08:07
I suggested in another thread that they follow the Petro dollar example. Find a commodity, say land?, and much like how you can only buy oil with US dollars, make people have to buy land only with L$.
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-06-2006 08:32
I suggested in another thread that they follow the Petro dollar example. Find a commodity, say land?, and much like how you can only buy oil with US dollars, make people have to buy land only with L$. They already buy resold land in L$ dollars. But New Land will always be sold in US$ because Linden Labs will never accept large scale auctions of land in L$ because they would be forced to dump it on the LindenX, further depressing the currency. Mainly because they can't pay the bills with L$, they gotta get the US$ out of the deal... _____________________
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Rasah Tigereye
"Buckaneer American"
Join date: 30 Nov 2003
Posts: 783
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06-06-2006 08:37
They already buy resold land in L$ dollars. But New Land will always be sold in US$ because Linden Labs will never accept large scale auctions of land in L$ because they would be forced to dump it on the LindenX, further depressing the currency. Mainly because they can't pay the bills with L$, they gotta get the US$ out of the deal... LindenLabs needs to find dedicated SecondLife players (addicts) to host their servers and web connections. THEN they can fund their land in $L. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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06-06-2006 10:57
LindenLabs needs to find dedicated SecondLife players (addicts) to host their servers and web connections. THEN they can fund their land in $L. They should figure out a way to increase the number of sims per server. That would cut back on their expenses and increase their profits. I believe the max right now is 4 Sims per server. _____________________
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Rasah Tigereye
"Buckaneer American"
Join date: 30 Nov 2003
Posts: 783
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06-06-2006 11:37
They should figure out a way to increase the number of sims per server. That would cut back on their expenses and increase their profits. I believe the max right now is 4 Sims per server. They COULD do that if they go to Havok 2, I think. But main problem is that in order to make each server support more sims, they need to increase the server processor power. Processors aren't cheap, and paying for them with premium memberships ($10 a month) probably isn't easy either. Plus 4x sims per processor = 4x content and 4x people = 4x bandwidth. It would only really save them in storage space right now. On the other hand, processors ARE getting more powerfull and cheaper, so with time I'm sure that will happen. p.s. those 4 sims per server are limited to the same number of prims as a single normal sim, meaning they're essentially desert sims. |
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Seraph Nephilim
and the angels will weep
Join date: 28 Jan 2006
Posts: 255
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06-06-2006 12:15
p.s. those 4 sims per server are limited to the same number of prims as a single normal sim, meaning they're essentially desert sims. There are several classes of servers, with 1 (class 2 server), 2 (class 3), or 4 (class 4) CPUs each. I've heard it said that the servers have been all updated to class 4 boxes, but I may have misread it, so I wouldn't rely upon that. Now, a normal sim is 256x256 = 65,536 sq.m. and can accomodate up to 15,000 prims, and runs on a single CPU. So, a class 4 server can manage 4 such sims. An openspace ("void"  sim is the same size and can accomodate up to 1,875 prims, and run 4 per CPU. (So a single CPU is handling 262,144 sq.m and 7,500 prims -- 4x the land and 1/2 the prims of a normal sim.) A class 4 server, having 4 CPUs, can manage 16 such sims.The CPU is the processor (Central Processor Unit) inside the computer. The server is the box that contains one or more CPUs. Finally, I have no idea if LL mixes and matches the type of sims run on a particular server. |
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Rasah Tigereye
"Buckaneer American"
Join date: 30 Nov 2003
Posts: 783
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06-06-2006 12:30
Maybe I need to be more specific. (This information is in the wiki somewhere, I believe): There are several classes of servers, with 1 (class 2 server), 2 (class 3), or 4 (class 4) CPUs each. I've heard it said that the servers have been all updated to class 4 boxes, but I may have misread it, so I wouldn't rely upon that. Now, a normal sim is 256x256 = 65,536 sq.m. and can accomodate up to 15,000 prims, and runs on a single CPU. So, a class 4 server can manage 4 such sims. An openspace ("void" sim is the same size and can accomodate up to 1,875 prims, and run 4 per CPU. (So a single CPU is handling 262,144 sq.m and 7,500 prims -- 4x the land and 1/2 the prims of a normal sim.) A class 4 server, having 4 CPUs, can manage 16 such sims.The CPU is the processor (Central Processor Unit) inside the computer. The server is the box that contains one or more CPUs. Finally, I have no idea if LL mixes and matches the type of sims run on a particular server. Thanks. I posted that based on what I remembered from the announcement a while ago, before you posted the explanation in another forum. |
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Zonax Delorean
Registered User
Join date: 5 Jun 2004
Posts: 767
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06-07-2006 07:27
History has a way of repeating itself. http://en.wikipedia.org/wiki/Gold_standard#Advocates_of_a_renewed_gold_standard It's insane to propose a gold standard in the modern world. Money isn't physical, and has no needs to be (and to be backed). Money is numbers today. |
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Kieran Rambler
Registered User
Join date: 11 Jun 2005
Posts: 6
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06-07-2006 08:30
Gold is not a steady value in itself. Right this second, gold is selling for $622 U.S. dollars for an ounce. This time last month it was at around $720 U.S. dollars an ounce. Those numbers aren't exactly inflation proof. We had a gold standard when we thought that money needed something else to give it value. We now know the little green things in our pocket are actually worth something without comparing it to a precious metal. Governments don't need a precious metal to maintain their currency. I may not know much about the economy in Second Life yet, but I can tell you that I would be seriously worried if the U.S. government thought gold would magically fix the U.S. dollar from falling through the floor in value recently.
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