Changes in the LindeX™ Exchange website page to keep SL economy healthy
Eva Artemesia
As we are seeing for a while now, our economy is not working great.
The linden market is stuck for various reasons, our currency is losing value, but I think LL can help us all by making some changes in the LindeX Exchange page.
Second Life should change the description in their website, to explain better how the market works and to direct people that can't wait to an instant payout.
We ask for a easier choice of words and concepts that direct users to make a thoughtful choice when they sell their lindens. By using a simpler interface like "Instant Payout" and "Linden Market for experts" we can help users and also help our economy.
We also ask to add a "Linden Market guide" in the same page explaining how the Limit Sell works, in terms or timing, mostly.
In this way we can help to keep the exchange rate low and have a valuable currency that allows residents and designers to live with their SL incomes.
This attached image is just an example, but it gives you an idea of what we ask.
Thank you.
Log In
Spidey Linden
Merged in a post:
API for Current L$ to Real Money Rate
Galaxy Littlepaws
In order to be in compliance with EU consumer protection laws related to in-game virtual currencies, one of the requirements is that when in-game virtual currency or in-game digital content or services are offered for sale, their price in real-world money should be clearly and prominently displayed.
For developers who display the L$ price within SL and their own external websites, it would be very helpful to have an API that fetches the current price of the amount of L$. Perhaps a script function such as
llGetRealPayPrice()
.Information on the requirements: https://commission.europa.eu/document/8af13e88-6540-436c-b137-9853e7fe866a_en
Quuiana Resident
I bought from the viewfinder and it cost me the same money as always grrrrr.
Imagin Illyar
I'd like to see the Lindex gone. Just set a rate and leave it be. 250 would be fine.
HellsCait Resident
I agree i am living in Australia and the amount we pay is ridiculous, I always use the buy now instant when I do. exchange rate also kills
Monamaldita Resident
a limit on price increases, for example, a limit of 250ls per dollar, a ceiling on sales, so as not to devalue the currency as it is. You can only sell below this value and never above it.
Tech Robonaught
They get theirs either way. It would be nice to see ACH transfers (Instead of Skrill and Paypal) so at least one is only paying 5% instead of 10% though.
The average user:
Pays for internet, pays for land, pays for uploads, pays to sell linden, pays to buy linden, pays to exchange and finally 'cash out' lol
Somebody's making money, but it's not us.
Streex Foxtrot
I like this idea but I think I stand payout should be “instant exchange” exchange from linden to USD
We use payout for process credit which would be better termed process payout.
But yes, something needs to be done. This whole process was super confusing to figure out as a business owner.
Eva Artemesia
Streex Foxtrot I like "instant exchange" as well! more professional :D
Streex Foxtrot
Eva Artemesia it does need something. That has a little more compassion for the base line user.
The first thing they teach you in college about web development is “usability”
The professor stated “if your grandma can’t easily user it or understand it- you’ve got a site that isn’t easily usable.”
Streex Foxtrot
I also wish to ad we could use some clarity it would be nice if they told the customer which was the best deal.
I have employees who will only do the market sell (instant exchange) because the lower option makes no sense.
Eva Artemesia
Streex Foxtrot I'm actually starting a group here: https://www.facebook.com/groups/1874481996632669 "SL Residents for a Healthy Economy" where I give my suggestions on the daily rates (in order to lower the insane exchange rate that we have now). I also prepared a guide about how the linden market works that you can find in the same group. trying my best ^^'
Streex Foxtrot
Eva Artemesia I don’t want to join the group.
Lowering the rates or manipulating the market to get lower rates feels, wrong. (Like insider trading and market manipulation)
I am however here for the webpages having clarity!
Eva Artemesia
Streex Foxtrot suggestions and clarity for the LindeX webpage is hardly manipulating anything. that's actually impossible, we can only give advices and teach people how the market works, the market will be the market. I'm here to ask LL to help us giving easier informations to users and trying to have a healthier market. I'm not a magician :D the group was to show you the extra work I am doing, no need to join if you don't feel it!
Christi Maeterlinck
Excellent idea. Specific, informative, and to the point.
Caroly Rossini
The central point of what you have written is to “live off the Lindens”, that is not healthy for the economy of SL, only for the pocket of those who sell. Those of us who are buyers cannot sustain the real-world misfinances of the creators of SL or their excessive ambition. Right now it's not a good idea to improve the economy of the minority with a clown in RL charging whimsical tariffs that eventually each of us will have to pay.
Eva Artemesia
Caroly Rossini SL is based on designers, they keep users inside SL to enjoy their creations. The buyers, or the customers of SL, should stand with the sellers, cause trying to lower the exhange rate is the last step before being forced to raise prices like in RL, sadly. This is a suggestion I am proposing to LL, which is simple and can help everyone.
Caroly Rossini
Eva Artemesia would understand the effort if it were applied to such everyday things as having the same inworld price as in MP, but more and more people are abusing it, preventing their customers from reducing commissions by buying with DC or CC versus buying Lindens, that would be a real contribution, and it would also strengthen a safer platform where good and bad are distinguished by feedback from reviews.
Streex Foxtrot
Caroly Rossini I do not believe that making clarifying changes to wording is a way to strong arm our economy.
If anything making that page easier to understand will help people buy and sell better, and allow them to make better educated choices about what they wish to do with their Lindens/us dollars
Natacha Haroldsen
Possible solution
Key Elements:
- Knowledge Questionnaire: Before gaining access to non-direct selling options, users must complete a short questionnaire.
- The questionnaire would test understanding of:
. Currency risk and exchange rate volatility
. The mechanics of the LindenX and its implications
. Impact of pricing in a weakening USD economy
. Broader economic effects on the SL economy
Goal: Not to restrict, but to inform and empower users to make better decisions while reducing systemic risks caused by uninformed economic behavior.
Compliance Parallel: This approach is inspired by financial regulations such as MiFID II in the EU, where investor profiling is required before granting access to complex financial instruments. Similarly, this would help SL creators understand what they're getting into before engaging in higher-risk selling strategies.
Concerns & Tradeoffs:
- While this may not immediately improve the exchange rate situation or fully stabilize the market, it would promote better awareness and decision-making, potentially reducing reckless pricing behavior.
- This could also serve as a signal of responsibility to creators and consumers, showing proactive steps are being taken to protect the creator economy.
Despite this might not help a lot. We should try something.
Garnet Psaltery
Natacha Haroldsen I'm not clear on what your intention is in forcing people to go through a questionnaire before they have gained knowledge of the four points you mention. Where are they supposed to find this information, and who has time for it anyway? Besides, I've got on perfectly well with buying linden dollars for 20 years and I've never fully understood any of those points. I just buy what I can afford at the current rate or close to it, if I don't mind waiting; I'm given the comparable costs and an estimate of time, and that's fine, it's my choice. I can see that something is not quite right in the SL economy but this is not, I think, a way that will encourage anyone.
Christi Maeterlinck
Natacha Haroldsen well, maybe for big-hitter traders, but for me, life's too short for all this. The original proposal is just right.
Streex Foxtrot
Garnet Psaltery think of it more like “money training” you’d only do it once and it would help you understand how it works.
Answering the questions after just lets them know you do understand it. It could be easily something users could opt out of I’m sure.
Garnet Psaltery
Streex Foxtrot That doesn't address what Natacha Haroldsen said. It was suggested that people answer the questionnaire, but I asked how we are to learn what is required to answer them. I any case I'm not going to spend precious time out of my old age in learning something so wide-ranging and unnecessary.
Kim Primdashian
Natacha Haroldsen I love this idea. I think it would be a great step toward making sure sellers understand the different selling methods and their impact on exchange rates. That way, if we still see people consistently choosing higher-rate options, we’ll know it’s likely not due to lack of knowledge, but maybe another factor like needing the money faster or personal financial urgency, rather than simple seller ignorance. It would give us clearer insight into the real reasons behind the rising rates without hurting the entire economy in the process.
To those asking where they could find the answer to the questions, a knowledgeable usage guide could simply be on the same page. I get that not everyone has loads of time, but if you’re using the Linden Exchange, it’s kinda important to at least understand how it works. Choosing not to learn how to properly use the Linden Exchange while continuing to use it in a way that affects everyone else isn’t really fair to the community.
When people avoid learning the basics, especially when the information is readily available, it leads to avoidable mistakes and in this case, it drives up rates and hurts both creators AND buyers. If you have time to use the Exchange, it’s only reasonable to take a little time to understand it, so your choices will save a lot of trouble for the whole community. Everyone will benefit when we all make responsible and informed decisions.
Natacha Haroldsen
Garnet Psalteryq of course it needs to be clearer and to explain better. It would be a one time questionnaire.
Actually in Europe when you trade, you get through this questionnaire before being able to trade anything. So just took that as an example that works, at least it allows people to question themselves if they are weong and to then look for information?
But a nice tutorial should be indeed be part of this! How many won’t read it? So yeah the questionnaire can cohabitate with the tutorials.
Our EU questionnaire are valid for 3yrs here. It could be. Good system really without too much hassle for sellers but more knowledge;)
Garnet Psaltery
Natacha Haroldsen It obviously suits you but I dislike this idea very much. You're treating people as though they weren't adults, with control over their decisions. Of course some people are less able to manage but most adults know what they're doing. How many people are actually taking huge risks here? You want to inconvenience those who don't need this imposition. Anyway I'm not a European. :)
Natacha Haroldsen
Garnet Psaltery I want to help finding qolutions so SL keeps viable for everyone.
Questionnaire has 3 questions… but yeah I understand you.
I just offer a possible solution, you just criticize. So maybe come up with something?
Why can’t exchange be constructive?
Enjoy your day nevertheless!
Garnet Psaltery
Natacha Haroldsen Criticism is a normal part of procedures like this, surely; it's not a fight. You're putting forward an idea and inviting comment. I am not an economist so I don't know what the answer is to the apparent problems. I've given my view and haven't anything more to say unless someone asks me to do so.
Eva Artemesia
Kim Primdashian some time ago I made a very basic tutorial for the LindeX page and many appreciated it, you can find it here: https://www.facebook.com/permalink.php?story_fbid=pfbid0RfKu3dM3ZCeQq2g5fNTHnDV6drewCKsyWPLTpvGtUcwYqqWzx9vj5dpkpvhVJPbkl&id=100013453985844
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