Best Place to Sell Lindens

Oh well...

A lot of things that LL does seem to be pretty much "half way" efforts, although I'm sure the "Everything LL does is wonderful"crew should be along any minute to tell us all how perfect Lindex is.

Looks like SL Exchange is now buying at $3.50 USD per 1000 using mass pay.

Yeah. I actually hate to say it (and no reflexion on the folks at GOM, who really seem to be very nice people and were on-the-ball with customer service)... GOM deciding to close may have been the best thing to happen to the L$ sales market. I'm seeing new L$ sales companies popping up all over the place-- and none of them are going the bogus stock market route. They're acting as currency exchange services--which is what should have been happening all along.

today was the first time I had 'cashed out' of SL. I decided on IGE and within a couple of hours the transaction was sorted and the money on the way out of PayPal and on towards my bank. Have to say that was a smooth and efficient transaction. Way to go guys.

It's still in beta, but I sold my lindens and got money on paypal with in an hour or two. That's all I want and they delivered. I have friends who are waiting days for money to hit paypal from Lindex and read others are getting money much faster...maybe lindex will improve when they are automated. I like inworld service i got with planetbux, however, so i will stick with them - www.planetbux.com

And so the splintering begins...

This is going to be bad for the value of the linden dollar, as it lowers liquidity of the market.

Oh well, everyone's gotta make a buck somehow.

Lf

Haven't ya heard Lordfly... the very best possibly market is a totally free, open market with competition! (or at least, that's what the pro-GOM people claimed... even after GOM shut down shop).

I don't really have a prediction what that will do... but I think one thing it will do is prevent Linden Lab from gaining the stranglehold they appeared to be seeking. We'll just have to see.

I made suggestions to LL weeks ago about the best way to handle L$ sales. They went a totally different suggestion, which is fine. They don't have to follow my opinions; after all, they're just my opinions. It's their company, their decision-- their loss.

How so? Less stress to a single system should reduce transaction time. More exchange options lowers the liquidity of the market?

Asking for lack of competition is the same as asking for people to pay more for something than it has to be. When a small group of people are the only people working in the market, they can raise the prices together, since the public has no alternative except buying from this small group of people. All a free market with competition does is allow people to pay the actual price of something instead of the over-inflated price caused by lack of competition. Your suggestion doesn't take into account that even 2-3 people not working together are competition however.

In a Linden system that sells other people's $L1000 for US$4.00 you will have people slowly buying $L who have not learned about better prices elsewhere, and you'll have thousands of people sitting in line to sell their $L at a overinflated price. People will feel taken advantage of when they learned they paid too much, and others will feel taken advantage of when their $L don't sell.

Meanwhile you have people that base their prices off of supply and demand. Since the $L tends to always grow in supply faster than demand, the competition will sell the $L for a price lower than US$4.00/$L1000. Everyone who is smart goes to these sites selling the $L cheaper, and the Linden system just sits there doing nothing.

Even if supply and demand raised the value of the $L to greater than US$4.00, you suddenly have the same problem in reverse. All the sellers feel taken advantage of since they didn't get what their $L was worth, and the buyers will feel taken advantage of when there is constantly no $L available on the cheap market.

I am very glad that they allowed competition on their system. A system that is just a line to buy and sell at one price is a rip off. If you think it is a better system, create it and see what happens.

You want Linden Labs to gain a stranglehold on everything? More competition is the one way Linden Labs doesn't get a stranglehold. Doesn't that kind of disprove your assumption they are looking to control it all by force? They went with the method that lets the beast set its own prices.

Yes, because if Joe Q Newbie has to check 30 websites to get the best price, and there are 30 different places to place orders/buy/sell currency, you're lowering the amount of money that changes hands efficiently.

Lemme use a terrible analogy:

1) You have two regions. One has a central, big city, where everything is. The other has many medium-to-small cities, each producing the same services and competing against one another.

A customer in Region 1 merely has to go down to the central bazaar and see all of the competitors at once; they are in one central location, out-bidding one another and fighting for his business.

A customer in region 2 doesn't have this luxury; he has to spend time travelling from town to town, finding the best price on the product he's looking for. On top of that, some of the towns have shady dealings that prey on uninformed folks that don't bother to travel between the towns; many of them charge higher rates in order to extract a higher profit.

By the time he goes around to check all the towns out, the prices have changed again, and so have the names and faces of the competitors.

Which region would you like to shop in?

Nah, re-read, and read between the lines. I just suggested to LL a way to sell L$ that would work. It wouldn't give them a stranglehold by any means. If they want that, they'll have to make it "illegal" to trade L$ off-world. Doubt they're gonna do that.

Seriously, LF. It's the Internet. Nobody has to do anything but spend a few minutes and type in a few sites. Additionally, as you recognize who legitimately has market competitive pricing, those sites can be a barometer. Also, the word will get around as to who is competitive and those sites that don't offer those rates will not survive.

This will not really slow down the amount of money that changes hands. Are you talking efficient pricing or faster service? Not the same.

is why monoplies are not allowed in most of the free market systems of the world. Everyone forced to use one providor? No options for those that *want* to comparison shop? One providor that can literally charge what ever they like for thier product set what ever rules *they* want? Thats...never been a good idea..and that has not changed in my lifetime

Sure there are folks that *won't* shop....they get to pay what ever is being charged in thier small corner of the "world", real or virtual. Many more tho..will shop and compare. I d rather have options. Sometimes I 'll go to the nearest place...sometimes I'll spend days and days shopping for a thing.

Basically..I have and I want options. I don't want to be forced into any one direction for any service I look for.

So is it possible to view a graph of recent Linden prices on LindenX? Today's sell price is around 262, or US$3.81 per L$1000. Am I likely to get a much better selling price than that if I wait?

Here you go:

https://secondlife.com/currency/market.php

Click on the 30 day option under the volume graph.

Looks like the best price recently has been 260. 262 looks like your best sell price right now if you need to sell quick. If you can wait a bit, you might be able to sell at 261 (after waiting for the 800K L$ ahead of you). Trying to sell at 260 puts you behind the 800K at 261 and the 1.2M at 260. All this assumes, of course, that nobody dumps L$ at 262, 263, 264..... It's a free market.

I do not see a volume graph.

Go to "Your Account"

Select "Currency Exchange Settings"

Select "Advanced" and submit.

Then if you go to : https://secondlife.com/currency/market.php

You should see the graphs.

Simple Chaos: Thanks, I didn't realize I had to enable "advanced" currency options. That did the trick! And the graphs are exactly what I wanted. The data on "who is in line to sell" was particularly helpful. I sold my first batch shortly after posting here, and I'm quite pleased with Lindex so far.

Is Lindex still the best place to buy/sell?

LindeX seems the most convenient since you don't have to give your L$ to a 3rd party avatar middleman. The LindeX works directly with your avatar's account.

However, SL changed their website, and I CANNOT FIND the link nor the page that takes me to the SELLING page.. only the BUY page. What's going on??

I found the url to take you to the sell page:

https://secondlife.com/currency/sell.php?place_trade=Sell+L%24+Now

I don't know why there isn't a link to this page, but I figured it out messing with the URL some. I hope this is just a small oversite since the facelift they did to the website.

I wanted to ask that too I can't find the page to sell my Linden money are they stopping letting us sell it? What happens to the ones that were still selling earlier today before the website changed do they not get to sell any more?

https://secondlife.com/currency/sell.php

Bug report being filed.

It will take you to a page with both buy and sell buttons.