10 cents increase

[LordHappycat]

Okay, so I've noticed that $5 is no longer $5.30 but now $5.40. Okay...so just to screw around a bit, I've assessed the values of various amounts to see how much of a piss-squirt of a difference this makes.

$30 usually got you like 7,440L just about. Now it's 7,470. That's when I noticed a key difference.

LL, your economics don't make sense with me.

[Amethyst Jetaime]

The Lindex is a money market exchange, not a fixed rate exchange.  You actually buy and sell $L's on it from and to other residents, and LL just facilitates the transactions.

Like any money market the value of $L's to your RL currence will change with whatever the suppy and demand is, or if you RL currency is not US$, the exchange rate for your currency to $US.

See here for more information: https://community.secondlife.com/t5/English-Knowledge-Base/Buying-and-selling-Linden-dollars/ta-p/700107

[Perrie Juran]

What Amethyst said AND there's been a change in the fee schedule:

https://community.secondlife.com/t5/Featured-News/Faster-Credit-Processing-amp-Upcoming-Changes-to-Fees/ba-p/3011794

LL has decided that we are all turnips. 

[LordHappycat]

I know how the damn thing works. Don't need to be reminded for the hundredth time.

But, there needs to be a line drawn somewhere on what's worth it and what's not. Just doing things by sprinkling between fingers is not the answer.

[Sassy Romano]

The "what it's worth" question is answered each time when one resident buys L$ from another resident. You too can influence this by choosing at what rate to transact.

 

Contact all your friends (and a few hundred thousand others) and all agree to boycott those residents who are offering at what you feel is a price too high.

 

That's all there is to it, simples!

[LordHappycat]

No, you can't.

Because, if that was the case, we'd be able to buy lindens by a single dollar. Yet, for some reason, it was decided back then that $2.50 was the bare minimum. So much for influence.

[Sassy Romano]

Ok, then you don't understand how it works at all but let me help with a dump of the current market data:-

You see, you CAN buy L$ for a single dollar, how many would you like?  As you can see, most people are selling them for between L$248 to L$250.  You can buy L$10,000 or in fact as many as you like for $1 US...IF you can find someone willing to perform that transaction.  (Money laundering rules aside, there are ways to achieve this while remaining within the TOS).

But the simple fact is that the trading rates are those show below and if there's no demand to buy or sell, those people hoping to sell @ L$231 for $1 will have their turn or those who want to buy L$279 for $1 will get theirs.  They just have to wait for the other half billion L$ to change hands first without anyone coming along with a better offer in between. *shrugs*

LL as the original vendor will have seeded the market but once in circulation, the market rate will prevail, just how it is, do as I suggested and have EVERYONE stop transacting until they get to the rate you want.  Simples!



[Perrie Juran]



 

I think what he is referring too is the minumum buy, US$ 2.50, not the buy/sell rates.

But yes, doing Market Buys does not get you your best value for your dollar.

[Amethyst Jetaime]

---

LordHappycat wrote:

No, you can't.

Because, if that was the case, we'd be able to buy lindens by a single dollar. Yet, for some reason, it was decided back then that $2.50 was the bare minimum. So much for influence.

---

You have no grasp of how credit card and paypal transactions work for merchants process payments.

LL has to pay transaction fees to credit card companies and paypal.  While they are most likely only a few cents or a small percentage of a transaction, it is not worth their while to process a $1.00 charge by the time they pay that and the employee's time in processing it. 

Most merchants in RL that accept credit cards or PayPal have a minimum amount you must charge at one time.  Most of the one's I see in RL are for $10US at least.  Some are higher.  So be thankful LL will charge $2.50.  All in all not much.  If that 'breaks' you, you should reconsider spending any RL money in SL.

As far as what a $L is worth compared to RL money, even if the exchange rate was double what it is, you'd pay more for items.  Many merchants when they price things do so in terms of RL money and how many they think they'll sell, then translate that into $L's.  Just for example purposes, if a merchant thinks they'll sell 10 of an item, and wants $10.00 for their time and expenses, they would charge $1US or about $250L for each one just to break even. If merchants are not paid fairly for their time and expenses for creating things and allowed a small profit there would soon be nothing to buy.  Even so most merchants don't charge near what they could make in RL doing graphic or 3D work and make only pennies an hour in SL. 

Merchants that provide freebies are being really generous as things generally take hours to create.

 

[Pamela Galli]

---

LordHappycat wrote:

I know how the damn thing works. Don't need to be reminded for the hundredth time.

 

 

---

First, you clearly do not. Second, no one reminded you of anything at all, since one cannot remind someone of something unless they once knew it.