Coffee Pancake Posted April 1 Share Posted April 1 The L$ is in dire need of being revalued. The high number of 'Linden fun monies' per real USD creates the false impression that small amounts of L$ have more value than they actually present. 1 real money American dollar is worth 100 pennies. 1 Linden dollar isn't even worth that. L$1000 is not a lot of money, but it looks and sounds like it might be. L$10,000 .. wow, that's obviously a fortune!! The difference between L$499 and L$299 is about a fun sized candy bar, you know, the size that isn't fun. But it's psychologically enough to make someone think twice about a purchase. Did you tip a DJ L$100 for an hours entertainment. What if the entire crowd, as big as it can be at 80 all people tipped (and we all know most don't tip a bean) L$100. L$8000 !! WOW !! .. US $32 .. that's US $17 after fees and income tax. .. It's a bit yikes once you do the math isn't it. We're selling ourselves short, delivering hand crafted Etsy artistry at prices too cheap for Temu, and complaining about it. All while our core life blood content creators literally starve trying to compete with content farms and piracy. This needs fixing. 3 1 10 Link to comment Share on other sites More sharing options...
CaitlinParker Posted April 1 Share Posted April 1 (edited) 6 minutes ago, Coffee Pancake said: The L$ is in dire need of being revalued. The high number of 'Linden fun monies' per real USD creates the false impression that small amounts of L$ have more value than they actually present. 1 real money American dollar is worth 100 pennies. 1 Linden dollar isn't even worth that. L$1000 is not a lot of money, but it looks and sounds like it might be. L$10,000 .. wow, that's obviously a fortune!! The difference between L$499 and L$299 is about a fun sized candy bar, you know, the size that isn't fun. But it's psychologically enough to make someone think twice about a purchase. Did you tip a DJ L$100 for an hours entertainment. What if the entire crowd, as big as it can be at 80 all people tipped (and we all know most don't tip a bean) L$100. L$8000 !! WOW !! .. US $32 .. that's US $17 after fees and income tax. .. It's a bit yikes once you do the math isn't it. We're selling ourselves short, delivering hand crafted Etsy artistry at prices too cheap for Temu, and complaining about it. All while our core life blood content creators literally starve trying to compete with content farms and piracy. This needs fixing. Most of us wouldn't be able to afford to buy lindens for rent or to even buy anything if it were $1 USD = $100 L. Inflation of anything does no one any good and actually hurts in the long run. Edited April 1 by CaitlinParker 10 3 Link to comment Share on other sites More sharing options...
Honey Puddles Posted April 1 Share Posted April 1 (edited) With prices inworld as low as they are now? NO! We need to go further! Introduce fractional L$! People already treat a $250 L$ purchase like they should come with an extended lifetime warranty, free updates for life, customization, and 24/7 personal support time with the creator, so the value of L$ when cashing out really should compensate creators for all that added time and service load. 1L$ should cost $100 USD.. or more.. LL should index L$ directly to the price of bitcoin, that way we can freely convert BTC to L$ 1:1, and kill two birds with one stone by embracing the crypto block chain. Perhaps LL should mint a new crypto currency for micro-microtransactions. #primcoin Edited April 1 by Honey Puddles 9 Link to comment Share on other sites More sharing options...
Katherine Heartsong Posted April 1 Share Posted April 1 The date people. The date. 🙄 7 1 10 Link to comment Share on other sites More sharing options...
Persephone Emerald Posted April 1 Share Posted April 1 20 minutes ago, Coffee Pancake said: The L$ is in dire need of being revalued. The high number of 'Linden fun monies' per real USD creates the false impression that small amounts of L$ have more value than they actually present. 1 real money American dollar is worth 100 pennies. 1 Linden dollar isn't even worth that. L$1000 is not a lot of money, but it looks and sounds like it might be. L$10,000 .. wow, that's obviously a fortune!! The difference between L$499 and L$299 is about a fun sized candy bar, you know, the size that isn't fun. But it's psychologically enough to make someone think twice about a purchase. Did you tip a DJ L$100 for an hours entertainment. What if the entire crowd, as big as it can be at 80 all people tipped (and we all know most don't tip a bean) L$100. L$8000 !! WOW !! .. US $32 .. that's US $17 after fees and income tax. .. It's a bit yikes once you do the math isn't it. We're selling ourselves short, delivering hand crafted Etsy artistry at prices too cheap for Temu, and complaining about it. All while our core life blood content creators literally starve trying to compete with content farms and piracy. This needs fixing. Have you ever exchanged US dollars for another currency to use in another country? They don't have to have a simple 1 to 100 or similarly simple exchange rate. The exchange rate between $Ls and $ US is relatively simple if one remembers a few relationships: $L 250 = $1, $L 25 = 10 cents, and $L 2,500 = $ 10 $L 500 = $2, $L 50 = 20 cents, and $L 5000 = $ 20 $L 1000 = $ 4, $L 100 = 40 cents, and $L 10,000 = $ 40 If one might spend more than $L 10,000, they should get out a calculator and be sure of how much money they're actually spending. 1 2 Link to comment Share on other sites More sharing options...
Coffee Pancake Posted April 2 Author Share Posted April 2 5 minutes ago, Katherine Heartsong said: The date people. The date. 🙄 Oh I'm not kidding. You're all out here making considered purchases over items too cheap for Dollar Tree. Who's the fool. 3 1 1 Link to comment Share on other sites More sharing options...
Coffee Pancake Posted April 2 Author Share Posted April 2 38 minutes ago, CaitlinParker said: Inflation of anything does no one any good and actually hurts in the long run. That's a wonderful sentiment, meanwhile ... in the real world where stuff is made by real people who need to eat. 1 Link to comment Share on other sites More sharing options...
Perrie Juran Posted April 2 Share Posted April 2 While revaluing the Linden Dollar might improve peoples realization of the value of goods and services I fear the horse may be too far out of the barn. How would you apply it to the Market Place? And the monumental task of Merchants having to reprice everything in their stores, redoing hundreds and thousands of images. And I would question tying the value of the $L to bitcoin. They are just too volatile. And on a bit of a side note, the way Phillip Rosedale set up the Lindex has been a boon for all of us because $L function as a currency and not a commodity. I do agree people have to get a better appreciation of the value of the goods and services in SL. 3 Link to comment Share on other sites More sharing options...
Persephone Emerald Posted April 2 Share Posted April 2 41 minutes ago, Coffee Pancake said: Oh I'm not kidding. You're all out here making considered purchases over items too cheap for Dollar Tree. Who's the fool. Everyone has their own idea of how much they want to spend on virtual goods on a platform that could disappear at any time. I enjoy finding free stuff and bargains. This is part of how I "play" SL, though I certainly don't complain if a creator is trying to get more than $ 1 for something they spent hours to create or If a club host would like to make at least $ 2 / hour for their time. 2 2 Link to comment Share on other sites More sharing options...
Katherine Heartsong Posted April 2 Share Posted April 2 58 minutes ago, Coffee Pancake said: Oh I'm not kidding. You're all out here making considered purchases over items too cheap for Dollar Tree. Who's the fool. As someone who enjoys selling one-of-a-kind abstract art that takes me a few hours to do for the equivalent of $1.50, not sure even what's being discussed here anymore. 🤷♀️ 👋 6 Link to comment Share on other sites More sharing options...
Modulated Posted April 2 Share Posted April 2 3 2 Link to comment Share on other sites More sharing options...
Love Zhaoying Posted April 2 Share Posted April 2 Under the proposed L$ revaluation, I think we would need fractional L$, or most Slex workers would be grossly overpaid. Link to comment Share on other sites More sharing options...
Rowan Amore Posted April 2 Share Posted April 2 1 hour ago, Coffee Pancake said: Did you tip a DJ L$100 for an hours entertainment. What if the entire crowd, as big as it can be at 80 all people tipped (and we all know most don't tip a bean) L$100. L$8000 !! WOW !! .. US $32 .. that's US $17 after fees and income tax. .. It's a bit yikes once you do the math isn't it. The DJ made $17/hr. That's more than minimum wage in most places in the US and they did it from the comfort of their home. I don't see a problem with that. 4 4 1 Link to comment Share on other sites More sharing options...
Love Zhaoying Posted April 2 Share Posted April 2 2 minutes ago, Rowan Amore said: The DJ made $17/hr. That's more than minimum wage in most places in the US and they did it from the comfort of their home. I don't see a problem with that. Plus in some countries, US$17 is a LOT. Possibly the assumptions in the OP are an example of US-centrism. 7 Link to comment Share on other sites More sharing options...
shireena1 Posted April 2 Share Posted April 2 LL would have to rethink stipend as well if they changed the exchange rate of L to USD. I mean if you work it out, at current rates, LL would be paying everyone about 2 or 3 times what it costs to be a paid member, but personally, that could be a good idea! 😁 3 2 Link to comment Share on other sites More sharing options...
Coffee Pancake Posted April 2 Author Share Posted April 2 1 minute ago, Katherine Heartsong said: As someone who enjoys selling one-of-a-kind abstract art that takes me a few hours to do for the equivalent of $1.50, not sure even what's being discussed here anymore. 🤷♀️ 👋 Say you were making clothing. Time from inception to store is about a week's work full time hours. You have to make the item, hand paint it 14 different shades and do 6 special patterns for the fat pack, rig it for 6 bodies, box art, documentation, set up huds and packages, list it and get up in a store or at an event. You keep 60% of the money you make after fees and tax and you get no paid time off, no healthcare, etc etc/ Still happy with a buck fiddy? 2 minutes ago, Rowan Amore said: The DJ made $17/hr. That's more than minimum wage in most places in the US and they did it from the comfort of their home. I don't see a problem with that. He made $17 an hour for ONE hour. Is min wage (which is not a livable wage) really the benchmark here? How is he paying for his comfortable home. 2 Link to comment Share on other sites More sharing options...
Persephone Emerald Posted April 2 Share Posted April 2 2 minutes ago, Coffee Pancake said: Say you were making clothing. Time from inception to store is about a week's work full time hours. You have to make the item, hand paint it 14 different shades and do 6 special patterns for the fat pack, rig it for 6 bodies, box art, documentation, set up huds and packages, list it and get up in a store or at an event. You keep 60% of the money you make after fees and tax and you get no paid time off, no healthcare, etc etc/ The real problem isn't the exchange rate between $L and real currency. The real problem is that all the exchange fees are too high. 1 1 Link to comment Share on other sites More sharing options...
Arielle Popstar Posted April 2 Share Posted April 2 3 minutes ago, Coffee Pancake said: He made $17 an hour for ONE hour. Is min wage (which is not a livable wage) really the benchmark here? How is he paying for his comfortable home. By doing some other money making work for the remainder of the day probably. 2 Link to comment Share on other sites More sharing options...
Rowan Amore Posted April 2 Share Posted April 2 (edited) 9 minutes ago, Coffee Pancake said: He made $17 an hour for ONE hour. Is min wage (which is not a livable wage) really the benchmark here? How is he paying for his comfortable home. Well, you are using $1 as your benchmark so yes, RL minimum wage would apply. I realize SOME people count on SL to pay RL bills. Does that seem wise when anything anyone spends in SL is considered a luxury and one of the first things to cut when their own RL purse strings need tightening? I do feel.for.people.who may have no other option except SL for RL income. I'll feel bad for them when LL shuts the doors and they have no back-up plan but your proposal, IMO, would only hasten that. 100L/$1 and I'd be spending even less than I am now. How is that helping anyone? Edited April 2 by Rowan Amore 5 4 Link to comment Share on other sites More sharing options...
Ayashe Ninetails Posted April 2 Share Posted April 2 $17/hr for a DJ is shockingly low and I certainly wouldn't mess with it. Where they're doing the work should have little bearing on that. I wouldn't take less money for my own freelancing just because I can do it from anywhere. I get no benefits, no paid time off, pay all taxes on every cent, and have to maintain my own equipment. That said, though, I've talked to a few SL creators about raising their prices, but they were happy with what they're currently charging. Same could be said for the for all of the writers, designers, musicians, Etsy crafters, and artists working for peanuts. Raise ya damn fees. Taxes are spensive, yo. Hey, I tried. 2 Link to comment Share on other sites More sharing options...
Rowan Amore Posted April 2 Share Posted April 2 4 minutes ago, Ayashe Ninetails said: $17/hr for a DJ is shockingly low and I certainly wouldn't mess with it. Where they're doing the work should have little bearing on that. I wouldn't take less money for my own freelancing just because I can do it from anywhere. I get no benefits, no paid time off, pay all taxes on every cent, and have to maintain my own equipment. That said, though, I've talked to a few SL creators about raising their prices, but they were happy with what they're currently charging. Same could be said for the for all of the writers, designers, musicians, Etsy crafters, and artists working for peanuts. Raise ya damn fees. Taxes are spensive, yo. Hey, I tried. Seems reasonable from what I've seen though... Median hourly wage: $16.65 Average DJ hourly wage: $25.76 The top 10% earns about $51 per hour The bottom 10% earns just under $10 per hour 2 1 Link to comment Share on other sites More sharing options...
Coffee Pancake Posted April 2 Author Share Posted April 2 Just now, Rowan Amore said: Seems reasonable from what I've seen though... Median hourly wage: $16.65 Average DJ hourly wage: $25.76 The top 10% earns about $51 per hour The bottom 10% earns just under $10 per hour Carefully ignoring the fact he has ONE hours work and in the example, every single person at an 80 person event tipped. We all know no more than 10% of attendees tip at all, and that events rarely run to 80 people. The cost of hiring a DJ for a real world event is more like $700 US for 3 hours of performance time. 1 Link to comment Share on other sites More sharing options...
Luna Bliss Posted April 2 Share Posted April 2 2 hours ago, Coffee Pancake said: We're selling ourselves short, delivering hand crafted Etsy artistry at prices too cheap for Temu, and complaining about it. All while our core life blood content creators literally starve trying to compete with content farms and piracy. This needs fixing. I agree, Coffee...our content is being sold way too cheaply. However you're barking up the wrong tree here by posting this on the forum -- the biggest percentage of regular forum posters here are not creators, and they can't see our perspective. Their perspective is that of the consumer. 1 2 Link to comment Share on other sites More sharing options...
Ayashe Ninetails Posted April 2 Share Posted April 2 1 minute ago, Rowan Amore said: Seems reasonable from what I've seen though... Median hourly wage: $16.65 Average DJ hourly wage: $25.76 The top 10% earns about $51 per hour The bottom 10% earns just under $10 per hour Nope. There's nothing reasonable about $17 an hour anywhere (assuming we're talking USA) with rents the way they are. A DJ right smack in the middle of NYC or Philly or Vegas or Chicago or any major city trying to make it on $17 an hour is a bad time. DJ equipment is thousands of dollars. Buying all that music and paying licensing fees. Rent. Taxes. Healthcare. Food. Car or public transportation between gigs. Travel expenses if they're doing festivals. Etc. In no world would I ever sign up for $17/hr for all of that. Doing it at home/in SL doesn't really relieve the expenses too much (assuming we're talking about real DJs and not just the "lemme toss on my Spotify playlist, music artist rights be damned" variety. Maybe travel costs, but the rest is still a burden. Now, if a DJ wants to work like 4 jobs in addition to that, sure, that $17/hr in Second Life is fine, but that's not something anybody should be doing (but don't go by me - I'm a strong advocate for self-employed freelancers not getting crushed while just trying to live). 3 Link to comment Share on other sites More sharing options...
Love Zhaoying Posted April 2 Share Posted April 2 Comparing an SL DJ to a RL DJ..wow! What next, compare an SL "doctor" to a RL "doctor"? 3 3 Link to comment Share on other sites More sharing options...
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