Should we be worried about the linden currency crashing?

Within a day the currency markets are already moving in a negative direction.

Goood for the people coming in bad for the people already here.

the lindex hasnt moved much due to supply lindens involvement but if you look at Slexchange which is more like a real currency market, youll see it is indeed rising.

I wouldn't worry, It's probably temporary. If the sex industry gets banned then you better run to the bank.

..just don't get confused about the type of deposit required.

I say worry about it. Worry yourself sick...

Cause if you don't worry about it, you will be forced by the Lindens to find something new to worry about. And THAT is something to worry about...

nice

That won't take long, they will either update with about three blogs a day for the next two days to try and bury this as they usually do with controversial topics or they'll blog about id verification.

Windlight!

The last market data at close of buisness showed the L$ at one of the best it has been. 267-1.

However, with the new rules on gambling, I do expecta glut through the Lindex as casino operators/users cash out before thigns get too tight for them to do so without it being noticed and reported to RL law (you all KNOW that's comming).

Then I expect the value of the L$ to drop, but not for long. Just like with any venture, when a significant portion leave, the rest must take time to adjust and the exodus itslef does cause spikes.

Honestly, I don't think it will effect much in the long run. Time to wait and watch.

~Jessy

The linden currency seems to be pretty well controled by the lab lately.

Think what it might do to land prices. All that casino real estate flooding the market.

In fact, SL is a venture...and ventures can fail.

Having said that, I have a few bucks invested
and I'm not worried about the Linden dollar
going away anytime real soon.

I just noticed the US$ Spent Last 24h: $2,122,475...

I recently stopped watching daily...but then it hovered
at 1.7M daily....consistent...so this is a significant increase
over let's say 2 to 3 weeks.

- Infrared

A lot of new land has been released in the last 24 hours.

Well they said this with LLABs plug the pulled the on third party money sellers back in 2005. Everyone panic and sold out! But the those that cried sky is falling are the ones that look unknowing.......

That doesn't really make much sense to me. Supply Linden can only adjust the value of the L$ upward (more L$/US$), not downward.

If everyone would start dumping large amounts of L$ on the LindeX with a declining (for the seller) exchange rate I don't see what Supply Linden can do to offset that, since LL can't buy L$ back, only sell more or not sell at all.

US$ spent only refers to how much L$ is being moved around in-world, it doesn't actually have anything to do with US$.

that us dollar within last 24 hours can be easily 'gamed'

say i buy a island and sell it to a alt and sell it back to myself like 50 times, thats 2000USD counted changing hands 50 times.....100,000 spent in world added to the total

that number is meaningless

The CopyBot panic last fall caused a run on the LindeX and Supply Linden just stopped selling for a few days and waited for the dust to settle. I doubt if the data even reflects that now.

That is a lot of work when in the past people just set up a scipt to transfer money back and forth between 2 accounts and let it run for a few hours.

When I checked the Lindex about half an hour ago, it looked like the exchange rate had IMPROVED for sellers by a full Linden. This really surprised me, I expected it to be worse by at least 10 Lindens. The limit order buys have significantly decreased, but it doesn't look like many people are panic selling. (unless they are all using market sells)

The price to buy Ls on slx had gone down (what I consider) significantly over the past two days. On Monday is was about 51.09 to buy 13650L (just an arbitrary amount I put in to compare) today it was down to 49.80.

Update, price is now down to 49.37 for the same amount of Ls as posted earlier. wonder how low it will go?

Historically, LL has kept the value of the L$ low by injecting new supplies of currency into the game whenever demand has risen enough to significantly raise the value of of their currency. By selling millions of L$ per day, they have effectively created a stable currency.

Any SL "problems" would tend to depress the value of the L$, as demand for SL currency would wane while people bailing out dump their L$. LL could help stabilize such times by simply not selling L$.

I conclude it will take a lot worse than what we're seeing now to significantly alter the value of the L$. Consider some of the threats to the SL economy just within the past year: lower stipends, end of free land, shortage of mainland, copybot, landbots, glut of mainland, open sourcing, advertising for gambling, threat of age verification, etc.

In the short-term, however, there are opportunities for risk-takers who are willing to purchase large quantities of L$ in private transactions (they risk getting fraud-tainted L$ and paying 150% in fees or having their account suspended).

I understand LL's reason for what they did this time. Normally i don't. Lets face it, they made so many stupid decisions in the past. However if they keep banning stuff like this there will be nothing left of SL but a empty shell. We should just give it a week or two and I'm sure things will be calmed down temporary till they ban something else.

I've been regularly monitoring what Lindex will pay for 10000L. It had been holding at $35.90 and now it's 34.85.

I seems to me that gambling is a powerful engine in the SL economy. As a group, gamblers buy Lindens with their credit cards and distribute that money to other gamblers, casino owners, and casino employees. That money then gets redistributed to other businesses

So the value of L's has to go down as that river of new cash dries up. I cashed out most of my L's.

Nope. The money then gets taken out of the system entirely, or used to pay tier.

your missing people just holding on to their lindens as well.........