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Buy Fee Change Discussion


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7 minutes ago, LittleMe Jewell said:

Why would an increase in the fee for buying L$ cause people to sell more L$ and take the money out to RL?

Other than the very few that might leave SL entirely.

Fairre has developed TSIF Syndrome from prolonged forum trauma.

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3 minutes ago, FairreLilette said:

What if someone tries to hack into the viewer, couldn't they get the lindens?  I wouldn't feel comfortable at this time taking large sums of lindens out.  2FA is needed if people are going to be taking super large sums of lindens out.  

But what does that have to do with increasing the fee to buy L$?

The situation you describe - someone possibly (though highly unlikely) hacking in to someone's account to get their L$ exists today and it will be absolutely no different tomorrow when the higher fee goes into effect.

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2 hours ago, LittleMe Jewell said:

But what does that have to do with increasing the fee to buy L$?

The situation you describe - someone possibly (though highly unlikely) hacking in to someone's account to get their L$ exists today and it will be absolutely no different tomorrow when the higher fee goes into effect.

Because the fee is capped at $9.99 no matter how much linden someone takes out.  So, instead of say someone buying smaller amounts of linden like they used to, to save on the fee, now they can buy thousands of dollars worth of linden for one fee - $9.99.  It's capped at $9.99 per transaction no matter how much linden one buys.

So, yeah, 2FA is needed even more so now.  

Edited by FairreLilette
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6 minutes ago, FairreLilette said:

Because the fee is capped at $9.99 no matter how much linden someone takes out.  So, instead of say someone taking smaller amounts of linden like they used to, to save on the fee, now they can take out thousands of dollars worth of linden for one fee - $9.99.  It's capped at $9.99 per transaction no matter how much linden one buys.

So, yeah, 2FA is needed even more so now.  

You are confusing BUYING and SELLING L$.  The $9.99 cap applies to BUYING the L$.

NOBODY is going to buy L$ (and pay a 7.5% fee) just to sell them (for another fee) and take them out of SL (for another fee).  The resulting RL dollar amount would be quite a bit less than whatever you started with.

And, even in looking at it the way you are ---- I could buy thousands of dollars worth of L$ in one transaction today for $1.49 fee whereas tomorrow it will cost me $9.99.  It makes much more sense for someone to hack into my account today, buy the thousands of dollars worth of L$ for a fee of $1.49 and then transfer them elsewhere to sell and take out of SL  Not to mention that nobody could take that much money out of SL without raising red flags unless they are a merchant that consistently already takes that much out of SL.

 

Edited by LittleMe Jewell
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2 hours ago, Coffee Pancake said:

That's not how this works.

NONE of your rambling in this thread even resembles how any of this works.

Please stop wildly speculating.

I'm not speculating on the last part but would have liked an honest answer about it.  People are saying they are going to buy very large sums of lindens in this thread.  2FA should have been a go already for an option for that.  I think they should have delayed this fee up-age until they had at least completed 2FA.  

Edited by FairreLilette
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2 minutes ago, FairreLilette said:

People are saying they are going to take out very large sums of lindens in this thread. 

Where?  Show me the quotes.

There have been a few people say that they will no longer buy L$ and a few that have said they will leave SL, but I don't recall folks saying they will be taking large sums of money out of SL because of this.  They have simply stated that they will stop putting large sum in.

Edited by LittleMe Jewell
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1 hour ago, LittleMe Jewell said:

Where?  Show me the quotes.

There have been a few people say that they will no longer buy L$ and a few that have said they will leave SL, but I don't recall folks saying they will be taking large sums of money out of SL because of this.  They have simply stated that they will stop putting large sum in.

That's not what I've seen.

BUT, I'm not going to look through this thread to find quotes but yes there were many saying if I buy multiple months of linden at once it's capped at $9.99, instead of paying the $9.99 fee every month.  If they buy four months or 10 months worth of lindens, it's capped at $9.99 no matter how much one buys in one transaction.

As far as leaving, a few have said that but they were explained how they could save on that fee by buying more at one time.  

Many are saying they will try to go to Paypal instead.  And, I have rented at places that do accept Paypal or lindens, so Paypal should not be a big deal.  

Edited by FairreLilette
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26 minutes ago, FairreLilette said:

yes there were many saying if I take out multiple months of linden at once it's capped at $9.99, instead of paying the $9.99 fee every month.  If they take out four months or 10 months worth of lindens, it's capped at $9.99 no matter how much one takes out in one transaction.

No -- those people were saying that if they BUY multiple months of lindens at a time the fee is capped at $9.99.

The fee change that is coming tomorrow ONLY applies to BUY transactions.  It will now be 7.5% of the US $ amount that you are spending to buy the L$ - with a minimum amount of $1.49 per BUY transaction and a maximum of $9.99 per BUY transaction.

 

To sell L$, you have to pay LL a flat 3.5% of the amount -- best I know there is no cap on that fee.  To then Process Credit (take the money out to RL), it will cost another 5%, with a minimum of $3.00 and a maximum of $500.00.   

Thus the ONLY place that a $9.99 cap comes in to play is for BUYING L$.

 

Edited by LittleMe Jewell
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22 minutes ago, FairreLilette said:

That's not what I've seen.

BUT, I'm not going to look through this thread to find quotes but yes there were many saying if I take out multiple months of linden at once it's capped at $9.99, instead of paying the $9.99 fee every month.  If they take out four months or 10 months worth of lindens, it's capped at $9.99 no matter how much one takes out in one transaction.

As far as leaving, a few have said that but they were explained how they could save on that fee by buying more at one time.  

Many are saying they will try to go to Paypal instead.  And, I have rented at places that do accept Paypal or lindens, so Paypal should not be a big deal.  

Q: Does this fee apply to selling Linden Dollars, too?

A: No. This change only applies to Linden Dollar purchase transactions -- there are no changes or new charges added to other Second Life transactions (such as selling Linden Dollars).

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2 minutes ago, Rowan Amore said:

Q: Does this fee apply to selling Linden Dollars, too?

A: No. This change only applies to Linden Dollar purchase transactions -- there are no changes or new charges added to other Second Life transactions (such as selling Linden Dollars).

I never said it did.  

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27 minutes ago, FairreLilette said:

If they take out four months or 10 months worth of lindens, it's capped at $9.99 no matter how much one takes out in one transaction.

yeah,  you kinda did.

Edited by Rowan Amore
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1 hour ago, LittleMe Jewell said:

No -- those people were saying that if they BUY multiple months of lindens at time the fee is capped at $9.99.

The fee change that is coming tomorrow ONLY applies to BUY transactions.  It will now be 7.5% of the US $ amount that you are spending to buy the L$ - with a minimum amount of $1.49 per BUY transaction and a maximum of $9.99 per BUY transaction.

 

To sell L$, you have to pay LL a flat 3.5% of the amount -- best I know there is no cap on that fee.  To then Process Credit (take the money out to RL), it will cost another 5%, with a minimum of $3.00 and a maximum of $500.00.   

Thus the ONLY place that a $9.99 cap comes in to play is for BUYING L$.

 

 I meant BUY when I said take out.  

Posts have been edited to reflect I meant buy not take lindens out of the game and sell them. 

Edited by FairreLilette
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31 minutes ago, FairreLilette said:

BUT, I'm not going to look through this thread to find quotes but yes there were many saying if I take out multiple months of linden at once it's capped at $9.99, instead of paying the $9.99 fee every month.  If they take out four months or 10 months worth of lindens, it's capped at $9.99 no matter how much one takes out in one transaction.

That might be a good solution to buy all at once then use an Alt to give you a monthly allowance to prevent overspending.

 

31 minutes ago, FairreLilette said:

Many are saying they will try to go to Paypal instead.  And, I have rented at places that do accept Paypal or lindens, so Paypal should not be a big deal.  

You can! but if your sorta well known on the grid(successful business, protagonist or worth getting the dibs on) then it would be a terrible idea as your giving up any privacy Linden Lab provides with anonymous of autonomy, the landlord will have all your real life details including real name, address, phone #, Email Address and if they are a Paypal Business Registered they can get access to your online purchase history with Paypal and any credit cards used by Paypal.

What landlords share and distribute outside LL Servers could open the door to your account getting hacked in theory. it's a  possible trade off if you have details your not wanting other to know who you might really be.

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Edited by Sassy Kenin
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57 minutes ago, FairreLilette said:

Because the fee is capped at $9.99 no matter how much linden someone takes out.  So, instead of say someone taking smaller amounts of linden like they used to, to save on the fee, now they can take out thousands of dollars worth of linden for one fee - $9.99.  It's capped at $9.99 per transaction no matter how much linden one buys.

So, yeah, 2FA is needed even more so now.  

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8 minutes ago, FairreLilette said:

Oh, I see what is going on here.  I have the wrong lingo, sorry.  I use take out lindens to mean buy them.  It's like that saying..."well, I'm just going to have to TAKE OUT more money because this costs more now".  

Sorry, lingo mixed up there.  

I meant BUY when I said take out.  

You might want to modify that when talking to people.  Your wording is confusing as hell.

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