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Linden Dollar Moving Lower Against |
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 11:04
That probably sounded wrong, and it was, but because less is more around here it is actually right.
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Keiki Lemieux
I make HUDDLES
Join date: 8 Jul 2005
Posts: 1,490
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02-22-2006 11:09
THe Spread is a result of the low volume, not a flaw in SLEX concept. Unless they are padding the spread for their own gains. If so, I think they padded themselves out of the market. As for fees, you can get rid of them, but everything depends on how you collect and transfer money. So where does that extra 2% go? Slexchange keeps it. It's a defacto commission. It's just a more convenient way to express it for the traders. If you accept Paypal or Credit Cards, you have to pay a fee to a 3rd party. As such, you have to pass it onto the user (ie: The Trader). To get around that, you accept other forms of payment which are fee less. There are lots of Digital Currencies to choose from... Which is one of the reasons that lindex charges fees on their transactions. To make money processing transactions in the first place, you can either charge a per-transaction fee or you can become a market maker and control the bid/ask spread and make a profit off the difference. The smaller the spread, the more inviting your market floor will become. Right, the floor takes their cut. It's just a different way to collect a fee. _____________________
imakehuddles.com/wordpress/
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 11:15
The fact is, Lindex is running at the lowest price possible to be break-even in order to facilitate the SL economy and not to be a profit center, something nobody else can afford to do unless they own significant equity in SecondLife..
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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02-22-2006 11:19
The fact is, Lindex is running at the lowest price possible to be break-even in order to facilitate the SL economy and not to be a profit center, something nobody else can afford to do unless they own significant equity in SecondLife.. Why isn't LL allowing cash you made from Selling L$ be reused to purchase new L$ on LindenX? _____________________
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 11:23
Why isn't LL allowing cash you made from Selling L$ be reused to purchase new L$ on LindenX? Great question. My thoughts are a collection of things a) Not enough demand for that feature b) Architectured in a way that it's not easy to do c) More liquid market gets L$ to its true value, which LL doesn't want to happen d) Possibly more fraud as someone can really mess up the market single handedly Listed in no particular order. |
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eltee Statosky
Luskie
Join date: 23 Sep 2003
Posts: 1,258
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02-22-2006 11:25
Why isn't LL allowing cash you made from Selling L$ be reused to purchase new L$ on LindenX? um... they are have been since i think the very first week when it was pointed out an found to be a bug _____________________
wash, rinse, repeat
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eltee Statosky
Luskie
Join date: 23 Sep 2003
Posts: 1,258
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02-22-2006 11:26
basically all cash on 'lindex' is simply yer LL account balance... tier is withdrawn form it directly, and new lindex purchases can be made directly from it.
_____________________
wash, rinse, repeat
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 12:07
Weird, do you know how to configure that eltee?
I just tried to make a L$ purchase (I have USD in my account) and on the confirm purchase screen it listed my mastercard as my payment method. |
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Theo Lament
In Perpetua Designs
Join date: 30 May 2004
Posts: 68
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02-22-2006 12:30
I just tried to make a L$ purchase (I have USD in my account) and on the confirm purchase screen it listed my mastercard as my payment method. I had the problem of LL still taking money from my credit card to pay for my tier when I had USD in my LL account. I called the customer service number to see what was up and they ended up finding a setting that was out of whack on my account. After they fixed that it's never happened again. |
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 12:43
I doubt you can buy L$ via the USD in your account, but I'd be happy to be proven otherwise.
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Theo Lament
In Perpetua Designs
Join date: 30 May 2004
Posts: 68
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02-22-2006 12:53
I doubt you can buy L$ via the USD in your account, but I'd be happy to be proven otherwise. I did it this morning. |
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Iron Perth
Registered User
Join date: 9 Mar 2005
Posts: 802
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02-22-2006 13:18
Weird!
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Siggy Romulus
DILLIGAF
Join date: 22 Sep 2003
Posts: 5,711
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02-22-2006 13:54
They even specifically recommend the two criteria that we use in evaluating limit increase requests. Typically how long does it take to process a request? And do you reply with a yes/no email or does it just go up without notification? Curious is all. _____________________
The Second Life forums are living proof as to why it's illegal for people to have sex with farm animals.
I, for one, am highly un-helped by this thread |
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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02-22-2006 14:51
The solution to (a) is to only accept e-Gold which cannot be charged back. Although eGold isn't widely used, so economic incentives should be given for traders who use eGold ( http:www.e-gold.com ). But still the majority of folks won't use it or find it too complex. As such, charge those folks your chargeback-protection fees. Or just charge the egold all the fees. Either way, luimps all the fees in one place which is what you are advocating. Good Article: Gold Rush Online payment systems like e-gold Ltd. are becoming the currency of choice for cybercrooks The second bit of dribble to make sense from you. (The first being don't give in to socialist propoganda, like what you spew) Its your currency fo choice..probably not coincidence. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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02-22-2006 19:38
Or just charge the egold all the fees. Either way, luimps all the fees in one place which is what you are advocating. The second bit of dribble to make sense from you. (The first being don't give in to socialist propoganda, like what you spew) Its your currency fo choice..probably not coincidence. Pleaze Jonas... There are crooks everywhere in life. And the few who might use egold doesn'r equate to anything. Maybe people use egold as a legitimate tool. Thats like saying UBS or CSFB are crooked because Swiss Banking Laws help to shield criminals who use Swiss Banks for illegal activities. Don't let your mind be brainwashed Jonas, Digitial Currency backed by Gold is the future. 2.8/Million eGold Accounts can't be wrong. http://www.e-gold.com/stats.html _____________________
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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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02-22-2006 19:42
Pleaze Jonas... There are crooks everywhere in life. And the few who might use egold doesn'r equate to anything. Maybe people use egold as a legitimate tool. Thats like saying UBS or CSFB are crooked because Swiss Banking Laws help to shield criminals who use Swiss Banks for illegal activities. Don't let your mind be brainwashed Jonas, Digitial Currency backed by Gold is the future. 2.8/Million eGold Accounts can't be wrong. http://www.e-gold.com/stats.html Not sure about that, I think that a man oops fool and his money are soon parted! |
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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02-22-2006 20:05
Don't let your mind be brainwashed Jonas, Digitial Currency backed by Gold is the future. 2.8/Million eGold Accounts can't be wrong. You also said don't listen to socialist propoganda. So I won't listen to your other advice! Oh: and obviously a mass can be wrong.. the lesson of Gallileo.. |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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02-22-2006 20:13
You also said don't listen to socialist propoganda. So I won't listen to your other advice! Oh: and obviously a mass can be wrong.. the lesson of Gallileo.. Hehhee, I don't think my remarks come close to being Socialist at all..In fact, I think they border on Libertarian. And a single individual can be wrong, the lesson of Neville Chamberlain _____________________
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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02-22-2006 21:44
Regulating a market by making prims a commodity..taking away stipends from premium members (without lowering monthly charges)
You sound like a pretty good socialist/fascist to me |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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02-22-2006 22:20
Regulating a market by making prims a commodity..taking away stipends from premium members (without lowering monthly charges) You sound like a pretty good socialist/fascist to me Hahah, sounds like what I'm proposing is more akin to Capitalism and Free Markets, than Socialism. Socialism would be keeping the status-quo with LL regulating stipend-welfare dependency and keeping the cost of production at zero, making everything a person creates intrinsically worthless. so·cial·ism: ------------- Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy cap·i·tal·ism: --------------- An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. _____________________
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Jonas Pierterson
Dark Harlequin
Join date: 27 Dec 2005
Posts: 3,660
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02-23-2006 05:51
Please explain how my stipend is welfare considering I pay for it with my premium charges. Please explain how my buying lindens is welfare that they are giving something to me under the guise of free when I actually paid for it already.
When you can pull that magic trick out of where the sun don't shine, feel free to continue on a rant, you socialist, marxist banker you. |
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Surreal Farber
Cat Herder
Join date: 5 Feb 2004
Posts: 2,059
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02-23-2006 06:54
If you've got the urge for some ludfisk, then you might want to keep an eye on the exchange rate for the Swedish Kronor.
$SEK 1 = $L 31 Stockholm is a very expensive town, so you'd better bring a big bag o'$L. _____________________
Surreal
Phobos 3d Design - putting the hot in psychotic since 2004 Come see our whole line of clothing, animations and accessories in Chaos (37, 198, 43) |
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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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02-23-2006 07:09
If you've got the urge for some ludfisk, then you might want to keep an eye on the exchange rate for the Swedish Kronor. $SEK 1 = $L 31 Stockholm is a very expensive town, so you'd better bring a big bag o'$L. Try visiting the toursit areas of Tokyo! They only accept ¥ yen! |
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ReserveBank Division
Senior Member
Join date: 16 Jan 2006
Posts: 1,408
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02-23-2006 07:44
Try visiting the toursit areas of Tokyo! They only accept ¥ yen! Try visiting London, you'll be broke before you can say, "Quid". _____________________
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Yumi Murakami
DoIt!AttachTheEarOfACat!
Join date: 27 Sep 2005
Posts: 6,860
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02-23-2006 07:49
L$469 to the UKP
L$329 to the euro L$3 to the yen  |