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LostBrave

System Cancelled (2 of 3) orders

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I have read enough about this and nothing makes sense

My bank account works perfectly the amounts were taken on a my credit card not PayPal

Three buy orders of $4,000 $4000 And $8000 Linden were taken

The second $4000 Linden was filled ??? The First and Last were System-cancelled

Oddly the first and last buy orders had a better exchange rate....Better for me!

Are we paying game?

Screen shots taken for the State's Banking and Exchange Officials  (State's Attorney)

You claim to be operating legally..

Explain?

 

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That Investopedia article was not written by Linden Lab.  Nevertheless, the author, Gordon Scott, obviously has a good grasp of the Linden Dollar, both what it is, and what it is not.

Anyone who starts gassing on about notifying the SEC clearly does not have such a grasp.

LL is very clear about what the $L is in the Terms of Service.  They also are clear about what the LindEx is.  It is an exchange for the buying and selling of $L between residents.  Like any commodity exchange, the commodity responds to the forces of supply and demand.  This causes the exchange rate of the $L to fluctuate.  LL keeps that fluctuation within a narrow range, through buying or selling $L with its own account.  This makes the LindEx a "managed" exchange, rather than an open exchange.  It's just as well that it is...were it not so, the value of the $L could vary wildly...sort of like Bitcoin, eh?

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Posted (edited)
18 minutes ago, LostBrave said:

I have read enough about this and nothing makes sense

My bank account works perfectly the amounts were taken on a my credit card not PayPal

Three buy orders of $4,000 $4000 And $8000 Linden were taken

The second $4000 Linden was filled ??? The First and Last were System-cancelled

Oddly the first and last buy orders had a better exchange rate....Better for me!

Are we paying game?

Screen shots taken for the State's Banking and Exchange Officials  (State's Attorney)

You claim to be operating legally..

Explain?

 

This is a Resident-to-Resident forum.  WE are not Linden Lab employees, but simply other Residents.  Thus we can't explain anything - or at least not with any guarantees.  We could guess.  For my credit card, if I had 3 separate large amounts come in rather quickly, the credit card company would probably shut it down until they verified if it was fraud or not.  So, how far apart were your buy orders?

In any case, for proper answers, contact Billing:

  Billing support phone numbers
    Toll-Free (US/Canada): 800.294.1067
    Long-Distance: 703.286.6277  
Our Billing team is available from 9am to 6pm EST(6am to 3pm PST), Monday through Friday.
https://lindenlab.freshdesk.com/support/solutions/articles/31000131008-billing-support
 

Edited by LittleMe Jewell
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Also, note that if your orders were canceled, the money that was being held in escrow pending the purchases is now in the USD balance of your account. It's not lost. It's there, available for making a future purchase or, if you wish, for transferring back out through your PayPal account.  (If you do that, of course, you will pay a transaction fee, so it's wiser to leave the USD balance in your account until you need it.)

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1 hour ago, LittleMe Jewell said:

This is a Resident-to-Resident forum.  WE are not Linden Lab employees, but simply other Residents.  Thus we can't explain anything - or at least not with any guarantees.  We could guess.  For my credit card, if I had 3 separate large amounts come in rather quickly, the credit card company would probably shut it down until they verified if it was fraud or not.  So, how far apart were your buy orders?

In any case, for proper answers, contact Billing:

  Billing support phone numbers
    Toll-Free (US/Canada): 800.294.1067
    Long-Distance: 703.286.6277  
Our Billing team is available from 9am to 6pm EST(6am to 3pm PST), Monday through Friday.
https://lindenlab.freshdesk.com/support/solutions/articles/31000131008-billing-support
 

Thank you for the reply 

Warning to the other residents about Linden Labs business habits

Orders were placed hours apart and the (second) order was filled with a cheapest exchange rate

All transactions were cleared by my bank, this is clearly a Linden Labs problem that can not be explained

I have not lost my monies but Linden Lab Exchange is not as truthful as "they" claim....

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4 minutes ago, LostBrave said:

Orders were placed hours apart and the (second) order was filled with a cheapest exchange rate

Remember that the LindeX is a currency exchange, not a shop of some kind.  When you buy or sell L$, you are trading with other residents.  Linden Lab simply maintains the machinery for the platform and charges a small commission for that service. Orders are filled as other residents agree to sell at or below the price you have set as your limit, so the order in which trades are completed depends on both the order in which they were submitted and the number of residents who can meet your price. As the base market rate fluctuates, residents who are selling at the Market rate at any moment may be selling at a price that is somewhat lower than the limit you have set, so will fill quickly. Once those orders are exhausted your other orders may be filled at a higher rate.

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Thank you for the link and your reply

Linden Labs states , not me 

That it is a "real" money market exchange

If so the S.E.C. needs a call

If I am willing to invest my money in term of 2 day or 4 day maturity at the time

of the buy orders, then the exchange need follow through with the buy orders as stated  

Not cancelling my buy orders only seconds after my money was taken from my bank

Very very dishonest behavior with no attention of completing trades from the start

The Exchange should not have completed any of my buy orders but did just one at the cheaper

a exchange rate

Thank you again Lindal for trying to explain

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4 minutes ago, LostBrave said:

Thank you for the link and your reply

Linden Labs states , not me 

That it is a "real" money market exchange

If so the S.E.C. needs a call

in the Linden ToS it is spelled out very clearly that the L$ is not a currency, that it is a limited license token. On creating a SL account, we accept and agree that this is the case

is all here in Section 3 of the ToS

https://www.lindenlab.com/legal/second-life-terms-and-conditions

notice that in clause 3.1 which is bolded. Linden specifically state that L$ are not redeemable for monetary value from Linden Lab

the LindeX is a trading game within Second Life, which allows residents to trade L$ with each other

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3 minutes ago, LostBrave said:

Thank you, Molly appreciate your effort

Then don't have a "Limit Buy"  

https://www.investopedia.com/terms/l/linden-dollar.asp

  • Linden Labs regulates the transfer and can exert full power over the value of a user's Linden dollars, even revoking them for no reason.

you keep wanting to equate the L$ to a realworld currency. It is not

what investopia say is true. The use of the limited license virtual token, know as the L$, can be revoked at any time by Linden. It says so in the ToS. The main example of this: Linden cancels a person's Second Life account.  Linden do not and will not redeem any L$ in the cancelled account for USD

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Please Molly, I am not 

Linden Labs does in their words, that is a investors journal , not my words 

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Posted (edited)
12 minutes ago, LostBrave said:

Please Molly, I am not 

Linden Labs does in their words, that is a investors journal , not my words 

you cited it, so the assumption can only be that you think it is relevant to how you see or want matters to be

that the quote is on an investor related website, which says the same as what Linden says, doesn't make the L$ into something that it isn't

Edited by Mollymews
same as

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Then the problem is Linden Lab's stating something false to the investors about Linden$ worth

Not with me or you 

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2 hours ago, LostBrave said:

Then the problem is Linden Lab's stating something false to the investors about Linden$ worth

Not with me or you 

Linden have stated exactly what the L$ is in the Terms of Service (ToS), which the investor website you quoted also states exactly. A ToS which we, including you, agree to when creating our accounts

that you read the ToS as a false statement, or that it might cause you to think there is a problem for you, is something not  of Linden's making.  I understand that you thought the L$ was something it isn't, but this is a consequence of your own thought processes. The Linden Lab ToS is very clear and tells us truthfully what the L$ is

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