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:
Reinstatement of the Instant Payout option on the LindeX™ Exchange page
Eva Artemesia
We are writing to express our deep concern and disappointment regarding the recent removal of the "Instant Payout" feature from the LindeX™ Exchange page. This sudden change has caused considerable distress within the creator and merchant community, particularly in light of the ongoing economic uncertainties that have already impacted user activity and income.
The Instant Payout option has long served as a crucial tool for creators, enabling timely access to earned funds and providing a sense of financial reliability. Many of us rely on this feature not only to support our creative businesses within the Second Life platform but also to manage real-world financial obligations. The recent promotional campaign offering 50 hours without withdrawal fees led many to believe that the company was actively supporting its creators and acknowledging the economic strain we are facing. Therefore, the removal of this feature shortly after such a gesture feels contradictory and disheartening.
Without access to immediate cashouts, we fear that the overall perceived and real value of the Linden Dollar may begin to decline, triggering broader economic repercussions across the platform. Delayed access to funds could lead to reduced reinvestment in the platform, price inflation, or even the departure of long-standing contributors and designers who can no longer afford to wait days for their earnings.
We strongly believe that this decision could have long-term negative consequences for the platform’s economic health and the retention of its most dedicated creators. We therefore respectfully urge you to reconsider the removal of the Instant Payout option and engage in open dialogue with the creator community to find sustainable solutions that protect both the interests of Linden Lab and its user base.
Thank you for your attention to this matter. We remain hopeful that a resolution can be reached that supports the continued vitality and growth of the Second Life economy.
Mynoir Resident
Me personally I think the instant cash out is awesome ! And here’s why as a creator I work countless hours on making things better for my Secondlife community and it’s nothing more then being able to pay your self when you feel like it not having to wait weeks for your $ to hit ! That could be so annoying and risky especially if someone is full time working from home. Because some of the payout didn’t hit on time ! I remember I had to wait over 10 days for my ls to hit and tried calling SL they couldn’t do anything about it. Going back would be a truly set back because this truly made a lot of designers work like never before ! And encourage others to come as well ! So going back to the old way would be a hard no for me and bad decision the community could make.
4
4kt Leeder
We love the option to instant cash out ‼️‼️ we shouldn’t be forced to have to offer to sell our ls ‼️ it’s 2025 moving forward we would like more freedom ‼
szzurp Resident
I Just don't think removing the instant cashout option for your players is beneficial whatsoever 🤷.
Monamaldita Resident
The second table is the value that customers are willing to buy and pay, it is the value used in the "Instant Sale", as you can see you will lose more LS. Before removing this option it was at 279LS per dollar and now it is falling, precisely with the change. Like it or not, this will force everyone to learn how to sell and value their money, and have a better idea of how much their LS is worth. I recommend everyone to read about it and try it, you will see that it is worth waiting a few minutes or days to have more dollars for less LS. Offers are falling from customers, now it's up to sellers to be aware and value their work to lower resale as well. The maximum should be 249ls per dollar to be accessible and fair for both sides. LL needs to regulate and set a maximum and minimum limit for the market to be fair.
Eva Artemesia
EDIT: we have news about users talking to LL directly and this might be a bug/issue due to the maintenance. So let's wait and see if the instant payout will be restored.
Streex Foxtrot
Instant payout is now gone. I guess one less option was to stop confusion.
Vanity Bonetto
guys... the abolition of "instant payout" was long overdue! This meant that both sellers and buyers received the worst possible rate when going with the market option, just to be served instantly. For example, if the current sell price was L$254, the instant sell price was set at L$264! (10 points higher, if I'm not mistaken). Yes, they were served immediately, but the seller could also be served instantly by choosing a rate just ONE point higher than the current rate... in this case, L$255 instead of L$254.
Eva Artemesia
Vanity Bonetto in this scenario the exchange rate will go higher and higher, considering, also, there is no proper tutorial for people to understand the linden market. I have dozens of people in my IMs asking me how the market works cause they are panicking. They are confused and they feel lost. Higher rates are VERY damaging for the entire community and they will bring higher prices.
Vanity Bonetto
Eva Artemesiain this scenario, the exchange rate will still be regulated by supply and demand, only that unexperienced users will no longer fall for way-out-of-line sell and buy rates by trying to be served instantly. nothing has changed AT ALL and it is killing me that nobody can see that! if there was only a market rate, both sellers and buyers would be left without zero control over their sell / buy rates and they would have to go with whatever the market is asking! there wasn't even a rate to choose! you told the system the amount and you got served. end of story! do you want that?!
Vanity Bonetto
Eva Artemesiathe sell rate will DEFINITLY not go higher and higher because 90 % of all L$ offered on LINDEX are offered by the top 20 business owners in Second Life and it is in their best interest to keep the rate low. Which means they will for sure hold back their L$ when the rate is getting too high and only sell what is absolutely needed. this is exactly how market regulation by supply and demand works. there is ZERO reason to panic. This hysteria is what is causing all the drama, not the market. We have been through similar situations in the past and it always calmed down. and if the price goes up, that means that stores have to adjust their prices a bit - so what? at the same time, buyers receive more L$ in return for their US$ - no damage done. The only ones who will be left behind are stores and business owners who think they will have to go out of business when they adapt, but that's not the case! - We have seen sell rates as high as L$280, years ago, and the sky wasn't falling! - If the sell rate goes up by 5% - increase your prices by 5%. at the same time, your customers will receive 5% more L$ for their US$.
Eva Artemesia
Vanity Bonetto I'm not sure you understand the huge impact that raising prices has, but it's ok
Vanity Bonetto
Eva Artemesia Eva ... :))
Eva Artemesia
Vanity Bonetto that is amazing!
Kim Primdashian
Vanity Bonetto "Yes, they were served immediately, but the seller could also be served instantly by choosing a rate just ONE point higher than the current rate... in this case, L$255 instead of L$254."
This is not as simple as you think and that what has created such a mess in the market. The "ONE point higher" method caused exchange rates to climb at a volatile rate the past few months... sellers are stepping on top of each other to have the best available rate and it creates a domino effect - 254 will end up being 270.... Price increase of items gridwide come after that and we all know what will follow! I invite you to be open minded and think about this on a larger scale, because this is a complex system.
Vanity Bonetto
Kim Primdashian a few buyers placing their bids at the top of the list has no serious impact on the rate at all. it has always been that way and the sell rate was stable for years. to make a lasting impact, a buyer would have to place an order in the range of several million L$ to make it stick, otherwise it would be eaten up within moments. --- the rate increase we see now has absolutely nothing to do with that. zero.
Kim Primdashian
Vanity Bonetto Do you actually monitor the Limit Sell exchange rates? It's not just a "few buyers" placing bids, there's multi-millions sitting in those exchange rates because when sellers (especially a seller selling millions of L$ at once) decide to go up one point, it invites other sellers to either add to it or step on the current highest rate if they feel like it is too many lindens for them to sell quickly. Additionally, it doesn't help that the L$ are being sold faster than buyers are purchasing, so YES it does have an effect on the rates.
The rate increase we see now was stimulated by the induction of instant process credit payouts and sellers not wanting to wait for their l$ to be purchased in Limit Sell, hence the jump from 248 to now 258!
Vanity Bonetto
Kim Primdashian I was talking about buy and sell orders placed via market sell / buy - only those who don't know how Lindex works are using market sell / buy - therefor there will never be millions of L$ traded via market sell / buy which means it will never have a lasting impact on the rates, not in any direction.
Reid Parkin
Vanity Bonetto We need Market Buy because Limit Sell orders are being filled by Market Buy orders. These are mainly people buying in the viewer.
But, as you say, people who do Market Sells are actually pushing the L$ value lower because they are selling at a much cheaper rate, except we don't see it because it's an instant sale, but it shows in the charts.
So, a Market Sell order is the same as putting in a Limit Sell order at say 263. It would sell instantly and not show in the waiting orders.
Eva Artemesia
Vanity Bonetto we have news about users talking to LL directly and this might be a bug/issue due to the maintenance. So let's wait and see if the instant payout will be restored.
Eva Artemesia
I would also like to suggest that, if this was indeed a maintenance-related issue as indicated in the grid status, it would be helpful in the future to inform users in advance that a section of the website may temporarily disappear during maintenance, to avoid unnecessary concern. Thank you again.
Wulfie Reanimator
Eva Artemesia The Cashier is for Marketplace. On LindeX, all the other buy/sell options are on the page, so there's no reason to think it's maintenance-related.
Eva Artemesia
Wulfie Reanimator yes I agree, that's what I am saying to people asking me about the maintenance. But you never know, so I wanted to add that in case there is a bug or something. Personally a never saw a block of their website suddenly disappearing.
Eva Artemesia
Wulfie Reanimator oh and the maintenance is about everything (marketplace and website) as you can see here: https://gyazo.com/aa301511172f2febb64edae88bbc65ae
Eva Artemesia
we have news about users talking to LL directly and this might be a bug/issue due to the maintenance. So let's wait and see if the instant payout will be restored.
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