How do you check the status Best Rate Buy Linden purchases?

[oliviatoms]

The last two orders of Lindens using the Best Rate Buy section doesn't seem to be filled for me. I've checked the Linden Status section on My Account, and I see the regular Linden purchases straight through Linden Labs, but there's not been any activity for the amount of Lindens I attempted to buy using Best Rate Buy.

 

I understand it can take some time to fill these orders, but the two I'm checking about are now 2 and 1 week(s) old.

 

Edit after 1st response - I placed the order for one of the amounts in the middle of the scale that's shown. So, people can just refuse to fill order? Also, how can I cancel the transaction because I can't find a place to even check it?

 

2nd Edit after learning more about the process - I appreciate SO much the help from everyone. I decided to cancel the transactions but I can't find anywhere to do that. I'm going to contact Linden Labs after the holiday and see how I cancel those transactions. Thank you for the great responses. :)

[Rolig Loon]

If the price you were offering to pay was much below what other residents were willing to sell their L$ for, your orders could remain unfilled for years.  Meanwhile, your credit card or PayPal account has been charged for the amount of the purchase and the money is being held, pending the transactions.  If you were to cancel the transactions right now, the money would appear in your account's USD balance.

If you'd like Linden Lab to confirm that,  you can call the Linden Lab billing team at the following toll-free numbers at any time 24/7:

Local Toll-Free numbers

US/Canada: 800-294-1067 FREE
France: 0805-101-490
Germany: 800-724-4552 FREE
Japan: 800-100-3060 FREE
Brazil: 800-878-3076 FREE
Spain: 90-083-9074
UK: 800-086-9081 FREE

Long distance ( not free, but you can use Skype to save some cost ) : 703-286-6277
**Note: Support is offered only in English

[Alwin Alcott]

i'll give you, next to Rolig's answer, one that i gave somebody else yesterday...

 

look at your order history, it will show your exchange rate.

If your rate is far from 269 you are out of luck and won't be sold any lindens soon

In that case, cancel the order, your money will go to your USD balance for use in next buy/fees

(If you don't know how limit buy works, or you need your money instantly, always do a market buy.)

 

If your rate is 269 it is only a matter of patience, it will fill somewhere in the 26 million that is waiting now.

{edit = the current amount is 33 million ]

[Rolig Loon]

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oliviatoms wrote:[ ... ] I placed the order for one of the amounts in the middle of the scale that's shown. So, people can just refuse to fill order? Also, how can I cancel the transaction because I can't find a place to even check it?

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It's not a matter of "refusing" to fill an order.  When you use Limit Buy on the LindeX or on the NY Stock Exchange or on any currency exchange in RL, you are posting a proposal: "I would like to buy XXXX and I am willing to pay $YYY for it.  Who wants to sell at that price?"  If your price looks good to someone else, you get what you want.  Otherwise, you wait until a seller comes along who IS willing to sell.  Setting a buy limit that is far below the current market price almost guarantees that you will be waiting for a long time.

That's the way that all exchanges work.  Sales are managed these days by software that does the heavy work of matching potential buyers and sellers, so you never deal face-to-face, but the trade is just like standing in a bazaar somewhere and haggling over a price.  When sellers and buyers agree, everyone is happy.  When they aren't, the market shifts as people back away and reconsider their offers.

[Nalates Urriah]

You got some answers but the how to check is a bit vague in them.

On the purchase page you can scroll down to see pending buy-sell orders in two columns. Look at the top of both columns. Sell is at L$258/US$1 and Buy at L$268/US$1 (L$2,500 pending). The Buy offers at L$269 have stacked up to L$34 million. 

Whoever is willing to buy at L$268 is waiting for a seller as are those wanting L$34 million worth. Within the L$34m orders will bee filled in order placed. The line is long and it will take some time to get to the last buyer in that cue. There is no way to know how long. Everyone guesses.

You can go into the page's left column and select MANAGE your L$ and see market data. Look at Today's Volume. It will give you an idea of how much money is moving through the exchange. As of now it is showing L$17m. The graphs say the last two days volume has been about L$110m. That doesn't guarantee today will perform at that level. It does say it is reasonable to think the whole L$34m will clear today.

The problem is we have no idea how many will come in today wanting to buy L$ at 268... They will clear ahead of those wanting to buy at 269. So, some portion of those 269 orders probably won't clear.

If I wanted to be certain an order filled today, I would buy at L$267. That would move me to the head of the line. Or I would offer at 268 as that is a really short line.

Any seller willing to sell at L$269 will fill the L$267 first then the L$268 then the L$269 orders.

With experience you can pay attention to the market data and make a decent guess at how long it will take a given buy order to fill. 

This is one place where patience pays, literally.

[Lindal Kidd]

1.  "The middle of the scale"...that may seem logical to you, but it's actually a very bad choice.  If you look at the market data, you can see that the $L trading range is pretty much at the top of the scale.  If you choose the first or second rate in the list, your order will generally be filled in a few days.  Further than that, and you're going to wait a loooong time to find a willing seller...maybe never.

2.  Where to look to cancel an open order:  Go to your Dashboard page, in the LindeX section on the left sidebar, and click Manage.  Then open your $L Order History.  You'll find your open order there, and you can cancel it.  The money will be moved to your $USD Balance.  You can then use it to either purchase $L at the market rate, or place another limit buy at a more realistic rate.

[Alwin Alcott]

in the middle of the scale is around 280/1 that will never fill, really cancel your order and replace it at the lowest...only that will move

or do a market buy... even easier.