The Linden Dollar sell rate seems to be trending downward from its record highs at the start of this week, when the top sell order was L$265. As of today (I took this screen capture from the LindeX about a half hour ago), the top rate is L$259, with other top sell orders approaching the more typical rate of around L$250 per US1.00.
"It seems like it wants to settle," observes Juliette Westerburg of Tres Blah, "but people are probably desperate to cash out simply because they need to, that it keeps going back up. But it's not continually going up every morning like it was for a few days ago."
However, there's still a lot of Linden Dollars being sold on the market, with nearly L$116,000,000 being offered for L$250/1. (That's over $450,000 in real cash.) That's likely not from a single person but an aggregate rate now on sale from many SLers. "Probably all the people who refuse to sell at a higher rate. It just accumulates," as Juliette puts it.
And those sell orders are accumulating quite a lot:
On a rough estimate, the top ten sell orders represent over USD$1 million in Linden Dollars. So while the sell rate may be starting to stabilize, the mystery remains: Why are so many SLers suddenly selling so much L$? After reviewing this long (often conspiracy-mindend) thread, I think the most theory is still the most likely: Private sim owners cashing in L$ to take advantage of Linden Lab's recently announced offer of grandfathered maintenance rates (after paying a "buy-down" fee of $600).
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Smaller sims that I frequent are putting out donation signs for the purpose of being able to to do the buy down.
It only makes sense that larger operations would also be looking to get in.
After years of people complaining the SL land market was rigged in the favor of a few land barons - there is now a way to get yourself into competitive parity with them.
People who see a future in SL are of course going to try to get in on that.
And anyone who thinks community matters for a VR still sees a future for SL - since are still no competing community-focused products in the pipeline from any other company nor from Sansar,
Posted by: Pussycat Catnap | Friday, May 27, 2016 at 03:42 PM
I think you are right. Private sim owners are most likely the root of this. As I said in my comment on your last post on this subject, I think it is more likely content creators with their own private sims more than a "land baron" - they are the most likely private sim owners to be buying down with large amounts of Lindens.
I can't believe it got as high as it did. Once when the highest open order was 265, I saw some joker put a couple hundred thousand up at 274. Which you pretty much may as well do a market sell for that. The panic is over now hopefully. But who knows what will happen in the last half of June. We may see another hike, since that is when thew Lindex usually ticks up a bit.
By the way the 100M Lindens piled up at 250 is normal. A normal healthy Lindex will up to 200M Lindens for sale all the time on the second best rate.
For example before this started 230M Lindens piled up at 248 and 49M Lindens piles up at 249 and 0 Lindens at 250, would be totally normal. For a fast sale you would pick a sell rate of 250 for your Lindens, if you could wait a half day or so you would pick 249, and if you were willing to wait several days you could choose 248.
The amount of Lindens on the market right now is actually totally normal for a top sell rate of 250/251. They are just unusually spread out because of the panic.
Posted by: Hottie Something | Friday, May 27, 2016 at 09:22 PM
Probably just comes down to some financial dummies having no idea what they're doing with their money.
Posted by: Tesla Miles | Saturday, May 28, 2016 at 11:41 AM