Pamela Galli Posted June 14, 2016 Share Posted June 14, 2016 Here we go again. I keep having to cancel sell orders as the Lindex inches up. At this point even if my Lindens are worth less I Would just like it to remain stable long enough for an order to complete. Link to comment Share on other sites More sharing options...
wherorangi Posted June 14, 2016 Share Posted June 14, 2016 oh! man. Hope it doesnt go bananas again didn't this start at the same time last month also ? if so then is maybe just somebody(s) who has truckloads of L$ (and possibly truckloads of tiers to pay also) who finds themselves between a rock and a hard place if is the tiers date that is putting them under pressure then is a little bit understandable, if they want to avoid being in default on their tiers. If also a bit difficult/uncomfortable for everyone else Link to comment Share on other sites More sharing options...
Elvina Ewing Posted June 14, 2016 Share Posted June 14, 2016 what i noticed at the time when it settled down on 252 (last week or so) there were like 56 million or so on buy orders... Not so anymore... Maybe there's just too many sellers and not enough buyers? Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 14, 2016 Share Posted June 14, 2016 Elvina Ewing wrote: what i noticed at the time when it settled down on 252 (last week or so) there were like 56 million or so on buy orders... Not so anymore... Maybe there's just too many sellers and not enough buyers? The limit sell orders are almost always filled by market buy orders, which are usually placed in the viewer. This is where the majority of buying comes from. It doesn't come from the buy side, as seen on the LindeX. Market buy orders (like those placed in the viewer) do not appear on the buy side of the LindeX because they are filled instantly from the sell side. You can often see the sell side go down in very small volumes when you refresh. These are your typical small market buy orders being filled. It's almost a continuous flow. The buy side of the LindeX does NOT show demand for L$, as most of the demand is coming from market buy orders, not limit buy orders. What you are seeing on the buy side are limit buy orders only, people who have specified a price. However, I have noticed that a weak volume on the buy side can cause the LindeX exchange rate to increase. I've observed this behaviour - If a very big market sell order is placed it can wipe out the top levels on the buy side in one hit, taking it from 264 to 270. The difference in the spread attracts traders. Once traders start buying and selling they soon start to compete by placing their sell orders at higher levels, thus pushing the exchange rate up on the sell side. I watched this happen a week ago. It took about two days for the buy side to correct itself back to a 10L spread, but it took the sell side up by L$2, and it's staying there. Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 14, 2016 Share Posted June 14, 2016 Now, the reason this is happening now and not before, I believe it's because Supply Linden used to place high volume walls on both sides. Those walls aren't there anymore. Link to comment Share on other sites More sharing options...
DejaHo Posted June 14, 2016 Share Posted June 14, 2016 Re: musical chairs. Are all your analogies furniture related? Link to comment Share on other sites More sharing options...
Qie Niangao Posted June 15, 2016 Share Posted June 15, 2016 wherorangi wrote: oh! man. Hope it doesnt go bananas again Link to comment Share on other sites More sharing options...
KarenMichelle Lane Posted June 15, 2016 Share Posted June 15, 2016 Rya Nitely wrote: Elvina Ewing wrote: what i noticed at the time when it settled down on 252 (last week or so) there were like 56 million or so on buy orders... Not so anymore... Maybe there's just too many sellers and not enough buyers? The limit sell orders are almost always filled by market buy orders, which are usually placed in the viewer. This is where the majority of buying comes from. It doesn't come from the buy side, as seen on the LindeX. Market buy orders (like those placed in the viewer) do not appear on the buy side of the LindeX because they are filled instantly from the sell side. You can often see the sell side go down in very small volumes when you refresh. These are your typical small market buy orders being filled. It's almost a continuous flow. The buy side of the LindeX does NOT show demand for L$, as most of the demand is coming from market buy orders, not limit buy orders. What you are seeing on the buy side are limit buy orders only, people who have specified a price. However, I have noticed that a weak volume on the buy side can cause the LindeX exchange rate to increase. I've observed this behaviour - If a very big market sell order is placed it can wipe out the top levels on the buy side in one hit, taking it from 264 to 270. The difference in the spread attracts traders. Once traders start buying and selling they soon start to compete by placing their sell orders at higher levels, thus pushing the exchange rate up on the sell side. I watched this happen a week ago. It took about two days for the buy side to correct itself back to a 10L spread, but it took the sell side up by L$2, and it's staying there. I was just about going to restate this but.........Oh Yeah... What Rya stated ! Link to comment Share on other sites More sharing options...
wherorangi Posted June 15, 2016 Share Posted June 15, 2016 Qie Niangao wrote: wherorangi wrote: oh! man. Hope it doesnt go bananas again jejejeje (: musical chairs of one is about right I think (: or if can manage to survive this vid then the Lindex be pretty easy forever more (: Link to comment Share on other sites More sharing options...
Lasher Oh Posted June 15, 2016 Share Posted June 15, 2016 There is definitely something odd going on with the Lindex. After similar experiences to yours over the past month I placed a limit order at 254. It was filled in seconds - Yippee - until I discovered that it had been wrongly filled at the fast sell rate which currently works out at around a rate of 268. Thought I might have hit the wrong button by mistake however the transaction history shows the correct 254 limit sell rate and the wrong final settlement. *sigh* I really, really, really don't want to go through the raising a ticket dance. Sellers Beware! ^L^ Ammended after tip off from Qie Link to comment Share on other sites More sharing options...
Qie Niangao Posted June 15, 2016 Share Posted June 15, 2016 Lasher Oh wrote: the fast sell rate which currently works out at around a rate of 368. Do you possibly mean 268? Link to comment Share on other sites More sharing options...
Lasher Oh Posted June 15, 2016 Share Posted June 15, 2016 Indeed I do - thanks :smileyembarrassed :manembarrassed: Link to comment Share on other sites More sharing options...
Pamela Galli Posted June 17, 2016 Author Share Posted June 17, 2016 23 Million at 255 now. half a million at 256. If I cancel my orders that got leap frogged, and put them at 256, then there will appear orders at 257. Link to comment Share on other sites More sharing options...
Pamela Galli Posted June 17, 2016 Author Share Posted June 17, 2016 I read this article about $50,000,000 in virtual currency getting hacked, bit the bullet and sold below the worst price on the board. There is no point in using a limit order anymore. Link to comment Share on other sites More sharing options...
Phil Deakins Posted June 19, 2016 Share Posted June 19, 2016 When I came to SL 9½ years ago, I was told that US$1 was about equal to L$250. I bought some L$ at that time and they cost just a little above 250 - just about the selling price of the bulk at the moment (252-254). So, overall, nothing has changed in all that time. It's been up and it's been down, but overall, it's remained the same. Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 19, 2016 Share Posted June 19, 2016 There might be bulk orders at 252 and 253, but it's not going to work for anyone. You'll be waiting a long time even at 254 right now. And yes (here we go again), we all know it has gone up and down in the past, but most people are also aware of the recent 4 year stable exchange rate. Why it was stable and why it is wildly fluctuating right now is the question, and concern. The concern is because nobody knows where it will stop, and neither do you, so I don't think you can tell people there's no need for concern or that nothing has changed. You, like all rest of us, don't know. Link to comment Share on other sites More sharing options...
KarenMichelle Lane Posted June 20, 2016 Share Posted June 20, 2016 Rya Nitely wrote: There might be bulk orders at 252 and 253, but it's not going to work for anyone. You'll be waiting a long time even at 254 right now. And yes (here we go again), we all know it has gone up and down in the past, but most people are also aware of the recent 4 year stable exchange rate. Why it was stable and why it is wildly fluctuating right now is the question, and concern. The concern is because nobody knows where it will stop, and neither do you, so I don't think you can tell people there's no need for concern or that nothing has changed. You, like all rest of us, don't know. My small limit sell order was completed in less that 24 hours at the requested rate of 254. There seems to be enough volume to flush these orders through. Being willing to wait netted me an additional $3.33 USD above the Market Sell rate when I placed this Sell Order. Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 20, 2016 Share Posted June 20, 2016 Thanks Karen, that's good to know for when I sell next week. Hopefully 254 will still be good to go. Link to comment Share on other sites More sharing options...
Phil Deakins Posted June 20, 2016 Share Posted June 20, 2016 I didn't say that there's no need for concern, although that's what I think. I did say that nothing has changed in the last 9½ years, and that's true. And it will still be true if the avergae bulk stays at around 252/253. The last 4 years are not especially relevant, imo. I'm looking at the whole of the time that I've been in SL, and, from that point of view, nothing has changed. Perhaps those who find the recent increase concerning are those who are relatively recent arrivals. Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 20, 2016 Share Posted June 20, 2016 Phil Deakins wrote: Perhaps those who find the recent increase concerning are those who are relatively recent arrivals. It only takes looking at historical charts and data to know that the L$ has fluctuated in the past. It doesn't mean there's no need for concern now. I don't know how it works where you live, but the Australian Reserve Bank keeps a very sharp eye on the Australian dollar, and will intervene when things are not looking favourable. The Reserve Bank does not say 'this has happened before so it's all normal, there's no need for concern'. It can have serious effects. It may not be a serious situation, at the moment anyway, but it is not correct to say that because it's happened in the past there's no need for concern. If you are a business making money then you probably would be concerned. The trend is definitely up Link to comment Share on other sites More sharing options...
Phil Deakins Posted June 20, 2016 Share Posted June 20, 2016 I did mention that it has had its ups and down. My point was that it is the same now as it was for quite some time 9½ years ago. My conclusion is that, over time, it's quite stable. Even the fluctuations haven't been very big. The last two times I remember, it went up to around 260. It's not a lot. That's my view of it anyway. Incidentally, I am a business making money. In the past I made a thousands of US$ each and every month, and the sort of fluctuations we've seen through the years never concerned me in the slightest. Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 20, 2016 Share Posted June 20, 2016 I hope you're right, and 260 wouldn't be too bad. I'll quote you from a previous thead - 'Wasn't it 260 or over at one time? My memory says it was. I used to miss the time before that when it was around 250.' What did you miss about it? Perhaps you did care back then, when you were making decent money. Link to comment Share on other sites More sharing options...
Phil Deakins Posted June 20, 2016 Share Posted June 20, 2016 Great Scott! You're really trying hard to make a superfluous point lol. I don't remember exactly what I was thinking, but I can assure you that I've never been concerned about it. Perhaps I missed the few extra dollars, but not to the extent of treating it as a big deal, or something of real concern, in my mind. I'll say it again. Overall, the value hasn't changed in the 9½ years that I've been in SL, so I don't consider the current value, and slight fluctuations, to be of concern or significant. Perhaps what you ought to be thinking is how fortunate you were during the ~4 years when it was below 250. Link to comment Share on other sites More sharing options...
Qie Niangao Posted June 20, 2016 Share Posted June 20, 2016 Rya Nitely wrote: ... the Australian dollar... Just in passing, to be stable against the AUD of four years ago today, the L$ exchange rate would need to be L$338/USD now. (Of course, as noted before, tier is paid in US$, so the increased value of the L$ against many other world currencies doesn't make SL land costs any easier to pay.) Link to comment Share on other sites More sharing options...
Rya Nitely Posted June 21, 2016 Share Posted June 21, 2016 Phil Deakins wrote: I'll say it again. Overall, the value hasn't changed in the 9½ years that I've been in SL, so I don't consider the current value, and slight fluctuations, to be of concern or significant. Perhaps what you ought to be thinking is how fortunate you were during the ~4 years when it was below 250. Phil, you might be right, but as you've seen in previous threads on the subject, there are many people who have shown concern. It's just a bit insensitive when you keep saying it's petty. And that's the point I've been trying to make. You've been making your superfluous point from one thread to another, saying it's a petty concern, and you'll probably continue doing so. It's insensitive. Link to comment Share on other sites More sharing options...
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