Revalue the L$ -> $1US = L$100

[Ayashe Ninetails]

3 minutes ago, Orwar said:

   In a similar vein .. Someone recently released a lawn mower. Which cuts grass. That grows. 

   And just the other day, someone was giving me a tour of their place, and she had to stop and clean the swimming pool because it had gotten leaves in it.

   .. SL is starting to get a bit too adult, it seems.

Given the absolute explosion of the mundane business "simulator" games market that kind of/sort of took off with Power Wash Sim and Lawn Mowing Sim and is now filled with such greats as "My Recycling Center," "School Cafeteria Simulator," and "Supermarket Simulator" (most of which are glorified chore sims), I'm not even surprised.

If a person wants to earn more money in Second Life, following the trend of "do all of the chores!" and charging well for a functioning system is certainly one way to accomplish that.

[Orwar]

2 minutes ago, Ayashe Ninetails said:

If a person wants to earn more money in Second Life, following the trend of "do all of the chores!" and charging well for a functioning system is certainly one way to accomplish that.

   Tries to stand in front of the hundreds of BeYou produce elements in the inventory.

   I have no idea what you are talking about.

[Ayashe Ninetails]

2 minutes ago, Orwar said:

   Tries to stand in front of the hundreds of BeYou produce elements in the inventory.

   I have no idea what you are talking about.

Lemme guess...you also own Supermarket Simulator. I think that's the only recent release most people have heard of and play regularly (obsessively). 😂

No but really, BeYou is popular. I think MyStory is as well? I never actually tried those out, but I imagine both earn a bit of monies.

[Sid Nagy]

1 hour ago, Orwar said:

if income is your primary concern, maybe don't look to SL for it.

This, exactly this.
Don't be fooled by the handful real success stories in SL.

[Orwar]

9 minutes ago, Ayashe Ninetails said:

Lemme guess...you also own Supermarket Simulator. I think that's the only recent release most people have heard of and play regularly (obsessively). 😂

   Haven't tried it, but .. Two games that are totally immortal: Cooking Simulator (can't wait for the upcoming sequel with multiplayer!), and Viscera Cleanup Detail.

9 minutes ago, Ayashe Ninetails said:

No but really, BeYou is popular. I think MyStory is as well? I never actually tried those out, but I imagine both earn a bit of monies.

   Only tried BeYou. I went to the MyStory store, there was a display of something, I was curious about what the animations were like so I sat on it - got automatically permabanned from the system for 'cheating'. Oh well, saved me some money, I suppose!

[Ayashe Ninetails]

23 minutes ago, Orwar said:

   Haven't tried it, but .. Two games that are totally immortal: Cooking Simulator (can't wait for the upcoming sequel with multiplayer!), and Viscera Cleanup Detail.

Cooking Simulator is so infuriating for all the obvious reasons. 😂 Chef Life Simulator looks really good, but it has its issues, too. I need a slower-paced cooking sim with food that looks as good as it does in the Cook, Serve, Delicious! series.

As for me, I'm totally hooked on Big Ambitions and Definitely Not Fried Chicken is quite hilarious. 👀

 

23 minutes ago, Orwar said:

Only tried BeYou. I went to the MyStory store, there was a display of something, I was curious about what the animations were like so I sat on it - got automatically permabanned from the system for 'cheating'. Oh well, saved me some money, I suppose!

Oh weird. You know, I've seen a ton of MyStory food around (because of COURSE I shop for food in SL more often than clothes), but never looked into the actual prices for the system or even how it works. Food is home decorating stuffs for me, and I'm willing to bet I'm keeping quite a few stores that sell it in business, that's for sure. 😂 I don't really use SL much for life simulation.

If the Linden dollar got more expensive, it's not my wardrobe that'd suffer. It's my kitchen!

Edited April 3 by Ayashe Ninetails
Fixing stuffs

[Jaylinbridges]

I wonder if some posting here have ever been human avatars, or set up house in SL?  Thirteen years ago I bought a one-seater outhouse with an auto closing door, that had adult couple animations included.  Don't ask why I paid for this, maybe buying lindens was cheaper back then when they didn't have fees to buy.   (see, on topic)

Have you ever tried to cam into a one seater outhouse with the door closed?  It's hard work.

[Zalificent Corvinus]

16 hours ago, Ayashe Ninetails said:

You know, I've seen a ton of MyStory food around (because of COURSE I shop for food in SL more often than clothes), but never looked into the actual prices for the system or even how it works. Food is home decorating stuffs for me

I have a scary amount of "non-immersion limited use RP fanatic" food items, you know the regular kind that works forever, coffee mug givers, etc.

The fridge in my kitchen is filled with booze, and left overs, and ice cream, there's breakfasty snacks on the worktop, even a retro chrome milkshake maker.

I also have a bunch of "attachable" food items, some of which are set up as givers, so people can take candy from the Halloween candy pail, or help them selves to a chicken strip from my chicken n fries takeout, etc.

 

TBH, the whole RP food system seems like some excuse to make you buy the same item 20 times to me, I avoid that like the plague.

 

[Arielle Popstar]

5 minutes ago, Zalificent Corvinus said:

I have a scary amount of "non-immersion limited use RP fanatic" food items, you know the regular kind that works forever, coffee mug givers, etc.

The fridge in my kitchen is filled with booze, and left overs, and ice cream, there's breakfasty snacks on the worktop, even a retro chrome milkshake maker.

I also have a bunch of "attachable" food items, some of which are set up as givers, so people can take candy from the Halloween candy pail, or help them selves to a chicken strip from my chicken n fries takeout, etc.

Do you have avatar arteries like this to go along with the food? Nothing like some realism to go along with one's virtual.

[Paul Hexem]

I can't decide which side of the debate I like more.

I do have to say though, I'm a little surprised how many otherwise intelligent residents (or so I thought) have apparently suggested that non-profitable hobby creators should leave SL.

If anything were truly going to kill SL, that would do it.

[Love Zhaoying]

20 minutes ago, Paul Hexem said:

I do have to say though, I'm a little surprised how many otherwise intelligent residents (or so I thought) have apparently suggested that non-profitable hobby creators should leave SL.

It's a form of classism, just like the RL attitude of "screw you, I've got mine".

[Ayashe Ninetails]

41 minutes ago, Paul Hexem said:

I can't decide which side of the debate I like more.

I do have to say though, I'm a little surprised how many otherwise intelligent residents (or so I thought) have apparently suggested that non-profitable hobby creators should leave SL.

If anything were truly going to kill SL, that would do it.

Mhm. I wonder how many of our fashion designers would stay if they knew they could take their 3D modeling skills over to Michael Kors for up to $88,000/yr, provided they have a few years of experience and know Maya and ZBrush. 👀 We are quite fortunate many do stay with us. 

Also, the hobby part only really applies if one never cashes out or never gets paid. Once you do, it stops being fun real quick (me many years ago when I got my very first 1099 from my "hobby" Zazzle business for a piddly $36 that was still untouchable in my creator account because I didn't even reach the royalties payout threshold by the reporting date - you told the IRS about money I didn't even GET yet r u srs rite meow).

[Nalates Urriah]

Some uninformed person is always trying to get someone to control something. 🙄 The generally clueless are so annoying.

L$ is an actual currency that suffers RL government control like any other currency. The price of the Linden currency floats and depends on users willingness to buy L$. The Lab exerts a degree of control just as the US Treasury exerts control on the US$. But others have a say too. Just as every RL government and RL person has a say in RL currencies there are many virtual entities that have an influence on the L$.

As RL currencies destabilize due to the Ukraine war and Russia, China, India, and others deciding they cannot trust the US Dollar we'll see increasing US inflation. What is that going to do to the L$? Since the Lab is a US based company it will suffer as the US Dollar declines. The Lab has to pay the majority of its bills in US$.

Those of us in the US are likely to see L$ become more expensive. But it is hard to know which foreign currencies will do better and find L$ cheaper.

Gold is the only stable commodity. But until people use Goldbacks for the majority of their transactions, I doubt we will be able to talk the Lab into accepting Goldbacks.

[Luna Bliss]

48 minutes ago, Nalates Urriah said:

As RL currencies destabilize due to the Ukraine war and Russia, China, India, and others deciding they cannot trust the US Dollar we'll see increasing US inflation. What is that going to do to the L$? Since the Lab is a US based company it will suffer as the US Dollar declines. The Lab has to pay the majority of its bills in US$.

I foresee another increased cashing out fee for creators, as well as a Marketplace percentage cut increase, as this progresses...but eventually I suspect we're all going to need to learn to exist with less.

Edited April 5 by Luna Bliss

[Coffee Pancake]

8 hours ago, Nalates Urriah said:

L$ is an actual currency that suffers RL government control like any other currency.

Nooo non ono no noonon no.

The L$ is a token. A worthless token. It does not have any govt oversight or any kind. It's not even on the same page as a crypto coin. See the ToS.

It might as well be called gems or blasts or beans.

[Jaylinbridges]

9 hours ago, Nalates Urriah said:

L$ is an actual currency that suffers RL government control like any other currency

Did you mean the Tilia dollar?  The L$ is not regulated at all, but exchanging them for Tilia US$ puts them in a regulated status.

My Tilia account says US$ Tilia Account Summary, and is regulated like a US bank.  LL could take all my $L and burn them and I could do nothing about it, they are unregulated tokens.

 

 

[Nalates Urriah]

7 hours ago, Jaylinbridges said:

Did you mean the Tilia dollar?  The L$ is not regulated at all, but exchanging them for Tilia US$ puts them in a regulated status.

My Tilia account says US$ Tilia Account Summary, and is regulated like a US bank.  LL could take all my $L and burn them and I could do nothing about it, they are unregulated tokens.

No I actually mean the L$. Tilia came into being because of the regulations being imposed on L$. The Lab needed a cleaner way to handle L$ that was a better fit into the system. L$ were around long before Tilia. Government was restricting what the Lab could do with L$ and how it had to be tracked. Tilia greatly reduces the amount of tracking the Lab has to provide.

[Persephone Emerald]

5 minutes ago, Nalates Urriah said:

No I actually mean the L$. Tilia came into being because of the regulations being imposed on L$. The Lab needed a cleaner way to handle L$ that was a better fit into the system. L$ were around long before Tilia. Government was restricting what the Lab could do with L$ and how it had to be tracked. Tilia greatly reduces the amount of tracking the Lab has to provide.

True, but linden dollars are still a game token, not a currency. They function like a currency, but Linden Lab specifically defines them as a token so they won't have to follow currency regulations and so they won't have to pay out for the linden dollars we have in our accounts if they don't want to do so. If someone is banned, LL can keep their lindens. If LL decides to close down SL, they won't have to pay out our lindens as RL currency.

[Rowan Amore]

In the U.S., FinCen guidelines rule that virtual currency that can be exchanged for legally recognized money is property, not money, and will be treated as such. 

[Sid Nagy]

9 hours ago, Jaylinbridges said:

Did you mean the Tilia dollar?  The L$ is not regulated at all, but exchanging them for Tilia US$ puts them in a regulated status.

My Tilia account says US$ Tilia Account Summary, and is regulated like a US bank.  LL could take all my $L and burn them and I could do nothing about it, they are unregulated tokens.

 

 

Of course the L$ is regulated. That's why LL needs L$ sinks (MP fees) and a supply Linden that can pop in with L$ if needed.
It is not for nothing that L$ are solid as a rock and almost never fluctuate much in value.
It is people selling to people who want to buy (so LL is never forced in a position to buy back their (for them worthless) L$) and the Lab regulating.

Edited April 6 by Sid Nagy

[Coffee Pancake]

12 hours ago, Nalates Urriah said:

No I actually mean the L$. Tilia came into being because of the regulations being imposed on L$. The Lab needed a cleaner way to handle L$ that was a better fit into the system. L$ were around long before Tilia. Government was restricting what the Lab could do with L$ and how it had to be tracked. Tilia greatly reduces the amount of tracking the Lab has to provide.

Tilia came into existence to provide distinct legal mechanisms for exchanging money for tokens and back again, that was the part of the operation that was under scrutiny.. It has nothing to do with the L$ itself or how it's used. Tilia provides the same services to other platforms including VRChat.

L$ are not money, they can be bought and sold for money.

Cakes are not money, they can be bought and sold for money.

Govt doesn't care about the cakes, they care about the money.

Edited April 7 by Coffee Pancake

[Modulated]

It's just space bux until you move it to Tillia or out through Paypal, then it becomes taxable  , in the U.S. anyway.

[Ceka Cianci]

21 hours ago, Persephone Emerald said:

True, but linden dollars are still a game token, not a currency. They function like a currency, but Linden Lab specifically defines them as a token so they won't have to follow currency regulations and so they won't have to pay out for the linden dollars we have in our accounts if they don't want to do so. If someone is banned, LL can keep their lindens. If LL decides to close down SL, they won't have to pay out our lindens as RL currency.

 The linden dollar is a Closed-Loop Digital Currency..It stops short of of being a crypto or a full on fiat currency.

Mainly because, users have no financial or legal claim on the linden dollars they hold and they can be revoked or deleted at anytime without a reason.

Real world currencies hold a real world value and are property of who holds them at the time as well as can be taxed..

It's not really in the name they choose that sets it's real world value and ownership and tax ability. It's in how it moves and is contained or not contained and it's ownership changing hands and taxable.. The linden dollar never leaves linden lab ownership and never leaves it's virtual bubble..

Virtual currencies are not seen as real money, they are seen as property. So they fall under property tax laws.

Us never actually owning them, don't get taxed on them.. hehehe

 

[Jaylinbridges]

On 4/6/2024 at 9:18 AM, Sid Nagy said:

Of course the L$ is regulated. That's why LL needs L$ sinks (MP fees) and a supply Linden that can pop in with L$ if needed.

That is not what I meant by regulated.   That is simply LL controlling the exchange rate, and keeping it stable in their own interest.  There are no government regulations requiring LL to maintain any value to the L$, or to maintain a stable exchange rate.

This is because the L$ is not a currency, but just a token in a privately owned online game.  LL can declare the L$ worth nothing at all if they choose, but that would not be a wise business decision.

RL government regulations, as Tilia, PayPal, etc must obey is what I call regulations, often laws passed by the US Congress.

 

Edited April 7 by Jaylinbridges

[Sid Nagy]

1 hour ago, Jaylinbridges said:

That is not what I meant by regulated.   That is simply LL controlling the exchange rate, and keeping it stable in their own interest.  There are no government regulations requiring LL to maintain any value to the L$, or to maintain a stable exchange rate.

This is because the L$ is not a currency, but just a token in a privately owned online game.  LL can declare the L$ worth nothing at all if they choose, but that would not be a wise business decision.

RL government regulations, as Tilia, PayPal, etc must obey is what I call regulations, often laws passed by the US Congress.

 

Yup, I think I misunderstood your initial post.
L$ are game tokens already. Not regulated by a government.
Worthless for the outside, but certainly not inside SL.

Edited April 7 by Sid Nagy