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Medhue Simoni

Hey LL, the Lindex has no instant cashout!!!!

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Perrie Juran wrote:


arton Rotaru wrote:

Yeah, looks like they removed the Risk API, and you do at your own risk when using a third party exchange.

You still proceeded at your own risk when you used them:  Linden Lab never 'guaranteed' them.

But it looks like they are now washing their hands completely of any responsibility.

 

Regardless, I can still find no reference to their use NOT BEING ALLOWED.

Well yeah, but if you look at a certain third party exchange site, they say "Security provided by:

Linden Lab's Risk API". That kind of "security" (what ever it was), is now gone.

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Same problem here, no credit card. I use Eldexchange, as it follows european banking- and money laundering prevention laws
and I can use bank transfer / direct debit with them, as these are the main ways to transfer money here in Germany.
If I can't use Eldexchange any longer, it would mean, that I have to take down my two parcels and pack up everything.

I addition, I won't touch PayPal with a ten feet barge pole. They screwed up too many people in the past,
some customers had to resort to tougher measures, like pressing charges at the police against PayPal, just to get their money out.
I won't put my bank account at risk by linking it to anything related to PayPal.

 

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ohh  just champion,  I read it as this....

"We make money off your transations,  when you arnt making those linden transactions through us,  we loose money and even though we understand that most of you use external agencies due to our delays,  we find it easier to block those services than to improve ours" .

 

Of cvourse thats just opinion,  however people use services that work for them,  certainly having to plan weeks in advance to take out your money means its held by LL longer,  ergo more interest for LL.  Many of you would remember when the way out was through the marketplace,  they closed that avenue down,  now they have closed the likes of virvox down too. I am not going to leave SL ,  but I will find it harder to do business in a place where I have to wait 2 weeks to extract money but if I want to purchase lindens it can be done IMEDIATELY!!!!!

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i wonder what people would do if LL started enforcing this..

5.1 Each Linden dollar is a virtual token representing contractual permission from Linden Lab to access features of the Service. Linden dollars are available for Purchase or distribution at Linden Lab's discretion, and are not redeemable for monetary value from Linden Lab.


So, the complaint is.. Instead of getting the exchange of your L$ into the currency of your choice immediately, you have to wait a week.. An exchange that they don't have to allow.. Perhaps we should be happy they are taking a greater interest in our money and protecting us.

The new ToS does NOT say you can't use a third party exchange. They are just saying they wont protect you if they screw you.

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I'm pretty sure a lot of this has to do with the fact that at least one exchange has had several complaints made against it in recent history. I know at least one has been shut down over the years too. To be honest, I don't blame LL for not wanting to protect us against fraud other people, or companies, commit. It may or may not be a choice I'd make if I were in charge myself, but I can fully understand it. It's a liability issue to make yourself responsible for the misgivings of others and could easily cost them a decent chunk of change. I don't know that I'd choose to cut off the opportunity entirely to customers, but I might change the way things are done.

But this wouldn't be the first time their wording is more than vague, and confusing as all get out. It's pretty predictable of them, actually.

I'm trying to look at it from all angles. Which is why I'm reading about it, and others' perspectives on the matter, including the lab's perspective.

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Oh, I understand the need for protection, but 5 day turnarounds is hardly a way for an efficient economy to run. Heck, I'd accept 2 days if that was the rule and didn't go past 3. When you throw in weekends, when the rest of the net runs 7 days, it gets to be rediculous. Rod just talked about lessening the bottleneck on improvements in the viewer. Now, how about addressing the delays in cashouts? Really, if it was 2 days and reliable, who would complain about it? When someone like me reaches 7 actual days, I'll have 3 or more cashouts in process by then. I can't imagine how many times a larger merchant would cash out. For the smaller merchants, it doesn't promote the instant need to create right away, as you won't see the money for a week, at best.

As merchants, our biggest obstacle is the competition in the market. When you pile on other things that slows the whole process down, you create more volitility in the markets. With so many people on the edge of folding or just hanging on, it creates a situation where they are more likely to hold their money, as they don't know when the next payment will come. It destroys many impulse buys, or investments to expand.

Do I seriously expect cashouts to be instant? NOT Really! A few hours does makes sense tho! It takes a few minutes to look up an account and comb over transactions, or scan an account with a program to flag transactions. Plus, any substantial merchant has a long track record of transactions that can put them in a fast track category. A few hours to a days is plenty of time for security to do it's job. Any more than that is a bottle neck, which is usually a simple fix of adding more personal. Of course, these are my opinions.

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Jewel Laurasia wrote:

Nalates website has this link:

 

 

thanks too..; it explains a lot, and for non native english speakers for me, it  pointed the difference between "non authorized" and "forbiden"..it remained the pb about "not allowed", but ive found a shade of difference in the meaning for this word too... 

English language sometimes irks me bec it has a whole word for so much different meaning... and idk how do english speakers for knowing when its about a meaning or another one.. but for french pp like me it makes things really really not easy.

Then the end of the blog post didnt made the thing more clear :  "Apparently, Linden Lab’s support team is telling people that LL is interpreting “not authorized” to mean “not permitted” rather than “not accredited.”"

So now, if even LL are not sure about what they mean when they use words.. it doesnt help more.

i would have liked to know better about the "apparently", who said it ? where ? and as usual with contracts like this.. all remain blury, and can be interpreted in different meaning... So i wouldn't worry to much... its enough vague for not meaning a lot.

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Drake1 Nightfire wrote:

i wonder what people would do if LL started enforcing this..

5.1 Each Linden dollar is a virtual token representing contractual permission from Linden Lab to access features of the Service. Linden dollars are available for Purchase or distribution at Linden Lab's discretion,
and are not redeemable for monetary value from Linden Lab.

LL already enforces that, they have not bought back a single L$ in years, when you cash out on Lindex or any other exchange you are selling your L$ to other residents not to LL.

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johnpatty wrote:


Drake1 Nightfire wrote:

i wonder what people would do if LL started enforcing this..

5.1 Each Linden dollar is a virtual token representing contractual permission from Linden Lab to access features of the Service. Linden dollars are available for Purchase or distribution at Linden Lab's discretion,
and are not redeemable for monetary value from Linden Lab.

LL already enforces that, they have not bought back a single L$ in years, when you cash out on Lindex or any other exchange you are selling your L$ to other residents not to LL.

That is not actually true.  I am buying and selling L$ to and from Linden Labs. They are buying and selling them to and from other residents. My Credit card statement does not say another residents name, it lists Linden Labs as the payee when i buy L$.

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Drake1 Nightfire wrote:


johnpatty wrote:


Drake1 Nightfire wrote:

i wonder what people would do if LL started enforcing this..

5.1 Each Linden dollar is a virtual token representing contractual permission from Linden Lab to access features of the Service. Linden dollars are available for Purchase or distribution at Linden Lab's discretion,
and are not redeemable for monetary value from Linden Lab.

LL already enforces that, they have not bought back a single L$ in years, when you cash out on Lindex or any other exchange you are selling your L$ to other residents not to LL.

That is not actually true.  I am buying and selling L$ to and from Linden Labs. They are buying and selling them to and from other residents. My Credit card statement does not say another residents name, it lists Linden Labs as the payee when i buy L$.

You need to look at the transaction all the way through.

You deposit money into your account with Linden Lab.

Linden Lab then acts as your authorized agent to purchase $L's for you on the Lindex using your cash.

You are still not purchasing them from Linden Lab.  They are only acting as your banker.

They do charge you a fee for performing that service which they then also deduct from the deposit you made into your Linden Account.

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When you sell you always sell to other residents (through the Lindex).

But when you buy, the money can both come from another resident or right away from the 'L$ press'.

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This is actually how works bank aswell.. nevertheless when you loan money to your bank you deal with the bank and not with whoever comes the money from and you owe the money to the bank aswell.

LL does business with Lindex since they take commission for every trade and in any case you have to deal with the person who sold the l$ you purchased bec the ammount is just an ammount and not someone's in particular.

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Madeliefste Oh wrote:

When you sell you always sell to other residents (through the Lindex).

But when you buy, the money can both come from another resident or right away from the 'L$ press'.

Supply Linden was the Linden selling account, I'm not sure how they figured that into their accounting figures but quite a while before Linden Lab removed the stats from their website, Supply Linden sales were at zero.

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Yup you buy from a pool of Linden Dollars and then it depends upon how you buy, be it limit or market rates, you may not be buying it all from one person.

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My interest in this dying game has been waning for a long time, but I've stuck around because my business has served as a reliable source of emergency income when I needed a few bucks to cash out here and there. The ability to cash out instantly is the only reason I continue to pay LL's ludicrous prices for renting a full sim.

The sim is getting dropped and I'm done, eat **bleep** Linden Labs. I hope you get sued by someone who was making big money and can afford to throw a lawyer at you.

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Charlotte Wirtanen wrote: "The sim is getting dropped and I'm done, eat **bleep** Linden Labs."

I guess, the next Gridsurvey-Reports will provide interesting reading material.

 

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I did a sell order the day they announced this to see how long it would take.

sell order was on the 7th .. its the 16th now and still nothing on paypal ... that just NOT normal... +i still have to wait 5 work days from pp to bank

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This whole thing with the new ToS is understandable, but i Hope it gets better. Does anyone know if even though one may have a premium account will they be able to cash out 40-50k at a time? or do they still have those stypid exchange caps of like 2.5k a week?

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Hawk Umino wrote:

This whole thing with the new ToS is understandable, but i Hope it gets better. Does anyone know if even though one may have a premium account will they be able to cash out 40-50k at a time? or do they still have those stypid exchange caps of like 2.5k a week?

I'm guessing you are talking U.S. Dollars here.

If you need to cash out more you can apply for it.

 

What to do if the limits listed above don't meet your needs

If the limits listed above don't meet your needs please send a limit review request as described above. Include information about your needs. We'll review your request, and if appropriate create additional limits or make adjustments to the existing limits.

https://secondlife.com/my/lindex/describe-limits.php

 

It would be stypid of them not to review a $50,000US cash out.

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