« SL Crowdfunding Update: Karl Stiefvater's Mesh Project Very Near $5K Goal, Kirsten's Viewer Project at 12% Target | Main | Sims 3 Pets: Big Competitive Threat and Opportunity for Second Life's Huge Virtual Animal Market »

Monday, October 24, 2011

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Patchouli Woollahra

What you might not be aware of is the fact that Facebook takes a 30% cut of all Facebook credits used. If I used 10 FBCs (1USD) to buy Lindens from LL through the currency exchange, LL would be obliged to supply me with barely more than 67 US cents' worth of L$ after deducting the cost of that Facebook commission (30 cents on the dollar) and the per-transaction fee levied on buyers (3 cents on the dollar)

Having said that, it would still be cheaper for me. I currently tend to get my L$ off First Meta Exchange.

Assuming I bought 2500 L$ at current rates of exchange:

For a direct L$ buy off LL's currency exchange, I would need to pay $10.09. To maintain the same level of profit, LL would need to bill me for 1309 FBOCs (about USD$13.09).

Via First Meta Xchange, using MOLpoints as a alternative virtual currency - I would need to pay US$14.47. As MOL levies a 15% commission at the time the points are purchased (rather than when they are spent), I would have had to buy about US$17.02 worth of MOLpoints.

That's almost four dollars worth of savings. There probably would be even more if more L$ were purchased, and for purchases of L$ exceeding US$200+ in value, it would become impossible to use MOLpoints because of limits imposed (and because if you can afford to spend more than US$200 in one shot regularly, you surely must have access to a more direct form of payment like bank cheques or Paypal!)

Just a quick analysis. I could be wrong of course, as First Meta is currently reducing its infrastructural requirements in order to reduce the cost of servicing its traders, including the removal of convenience-at-great-cost payment services like Zong Mobile payments. If I check in six months' time, it might be conceivable there might be a plunge in the price offered by FMX attributable to these changes.

But that is later, and this now.

/Just my L$5 worth to open discussion.

shockwave yareach

I will never use EITHER Facebook nor LL credit/moonrocks/beans/clams/pepsipoints outside of their systems. The day I would trust either company with a realworld business application will be the day I suffer a stroke. Both companies have shown themselves to be utterly untrustworthy and unbusinesslike -- LL has gone so far as to be criminal with bait and switch tactics. So neither will become a universal currency for the internet for anyone with more than a split second to research the companies wanting their money.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

Your Information

(Name is required. Email address will not be displayed with the comment.)

Wagner James Au
Wagner James "Hamlet" Au
Dutchie 0223 Masssage table Slideshow
my site ... ... ...

PC/Mac readers recommend for SL:

Classic New World Notes stories:

Linden Limit Libertarianism: Metaverse community management illustrates the problems with laissez faire governance (2008)

The Husband That Eshi Made: Metaverse artist, grieving for her dead husband, recreates him as an avatar (2008)

Labor Union Protesters Converge On IBM's Metaverse Campus: Leaders Claim Success, 1850 Total Attendees (Including Giant Banana & Talking Triangle) (2007)

All About My Avatar: The story behind amazing strange avatars (2007)

Fighting the Front: When fascists open an HQ in Second Life, chaos and exploding pigs ensue (2007)

Copying a Controversy: Copyright concerns come to the Metaverse via... the CopyBot! (2006)

The Penguin & the Zookeeper: Just another unlikely friendship formed in The Metaverse (2006)

"—And He Rezzed a Crooked House—": Mathematician makes a tesseract in the Metaverse — watch the videos! (2006)

Guarding Darfur: Virtual super heroes rally to protect a real world activist site (2006)

The Skin You're In: How virtual world avatar options expose real world racism (2006)

Making Love: When virtual sex gets real (2005)

Watching the Detectives: How to honeytrap a cheater in the Metaverse (2005)

The Freeform Identity of Eboni Khan: First-hand account of the Black user experience in virtual worlds (2005)

Man on Man and Woman on Woman: Just another gender-bending avatar love story, with a twist (2005)

The Nine Souls of Wilde Cunningham: A collective of severely disabled people share the same avatar (2004)

Falling for Eddie: Two shy artists divided by an ocean literally create a new life for each other (2004)

War of the Jessie Wall: Battle over virtual borders -- and real war in Iraq (2003)

Home for the Homeless: Creating a virtual mansion despite the most challenging circumstances (2003)

Newstex_Author_Badge-Color 240px