Comments on: A Virtual Currency, merits beyond fashion shopping? http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/ Exporting an SL photographer's Second Life Mon, 13 Feb 2012 10:40:29 +0000 http://wordpress.org/?v=2.3.3 By: Chloe http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100847 Chloe Sun, 07 Dec 2008 13:19:07 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100847 Stumbled it! great one, Juho Hamari’s overview, makes it simple alright. Stumbled it!
great one, Juho Hamari’s overview, makes it simple alright.

]]> By: Sered Woollahra http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100784 Sered Woollahra Sat, 06 Dec 2008 22:18:30 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100784 The way I see it, LL has two control mechanisms on the economy. LL cannot directly control the amount of land available for purchase on the market, as it is partly influenced by endusers selling their parcels besides new LL provided land. LL has to be very careful with adding new land in order to keep the land market in a certain state of equilibrium: there cannot be too much land available for sale, or the prices would plummet (..even further) and that could crash the economy. The second piece is the amount of available Lindens, also to a certain extent. They print the Linden Dollars, out of thin air, for new accounts and the premium stipends, which they have to provide. But they can't control the user owned dollars, which is a vastly greater sum; in the end Linden Labs does't have too much control there, either. They have managed to keep the value of the L$ reasonably stable nonetheless. So no, LL cannot control it's economy as far as I can see, other than crashing it by prohibiting or restricting certain lucrative in world operations like banking or gambling ;-) The way I see it, LL has two control mechanisms on the economy.

LL cannot directly control the amount of land available for purchase on the market, as it is partly influenced by endusers selling their parcels besides new LL provided land. LL has to be very careful with adding new land in order to keep the land market in a certain state of equilibrium: there cannot be too much land available for sale, or the prices would plummet (..even further) and that could crash the economy.

The second piece is the amount of available Lindens, also to a certain extent. They print the Linden Dollars, out of thin air, for new accounts and the premium stipends, which they have to provide. But they can’t control the user owned dollars, which is a vastly greater sum; in the end Linden Labs does’t have too much control there, either. They have managed to keep the value of the L$ reasonably stable nonetheless.

So no, LL cannot control it’s economy as far as I can see, other than crashing it by prohibiting or restricting certain lucrative in world operations like banking or gambling ;-)

]]> By: Vint Falken http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100759 Vint Falken Sat, 06 Dec 2008 13:27:53 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100759 Thank you, Sered! I followed the discussion a bit back in 2007, but never read something recent. The one problem is, that Second Life (and thus probably also OS) differs from most other MMORPG's & virtual worlds on 2 points: the ability for a large amount of user created content & the ability of of the users to set price for virtual goods & services. Besides land tier & the sinks (and a possible influence on exchange rates through the sinks & land prices through the amount of new land they offer) there is not less LL can do to 'control' it's economy, opposed to other virtual worlds? Thank you, Sered! I followed the discussion a bit back in 2007, but never read something recent. The one problem is, that Second Life (and thus probably also OS) differs from most other MMORPG’s & virtual worlds on 2 points: the ability for a large amount of user created content & the ability of of the users to set price for virtual goods & services. Besides land tier & the sinks (and a possible influence on exchange rates through the sinks & land prices through the amount of new land they offer) there is not less LL can do to ‘control’ it’s economy, opposed to other virtual worlds?

]]> By: Sered Woollahra http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100744 Sered Woollahra Sat, 06 Dec 2008 09:19:30 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100744 Interesting stuff, certainly beyond the scope of SL, thanks for pointing this article out! We had quite a discussion amongs OpenSim developers about how to deal with currencies and money, on a grid comprised of sims or gridlets operated by independend grid/sim owners. One overarching currency for all, or each grid it's own? The latter seems unworkable to me, but some grid owners really expect to operate their own economy on a small grid. I'd rather use Lindens, but that's not allowed - yet? More on that discussion here: http://sered-sl.blogspot.com/2008/11/nature-of-open-grid.html Interesting stuff, certainly beyond the scope of SL, thanks for pointing this article out! We had quite a discussion amongs OpenSim developers about how to deal with currencies and money, on a grid comprised of sims or gridlets operated by independend grid/sim owners. One overarching currency for all, or each grid it’s own? The latter seems unworkable to me, but some grid owners really expect to operate their own economy on a small grid. I’d rather use Lindens, but that’s not allowed - yet? More on that discussion here:
http://sered-sl.blogspot.com/2008/11/nature-of-open-grid.html

]]> By: Detune http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100726 Detune Sat, 06 Dec 2008 01:23:10 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100726 I never understood people that let their avatar camp over night, while the puppeteer slept. In most countries the electricity, to power the PC, cost a lot more then the few Linden dollars you get out of it. You might end up paying more for to get those L$, insteadt of just buying them via your plastic card. I never understood people that let their avatar camp over night, while the puppeteer slept.
In most countries the electricity, to power the PC, cost a lot more then the few Linden dollars you get out of it.
You might end up paying more for to get those L$, insteadt of just buying them via your plastic card.

]]> By: JoshMiller http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100716 JoshMiller Fri, 05 Dec 2008 22:54:14 +0000 http://www.vintfalken.com/a-virtual-currency-merits-beyond-fashion-shopping/#comment-100716 Second Life could certainly benefit but SOME form of currency distribution through Linden Labs. The big problem is of course preventing abuse. One thing I am supremely grateful for is that my account is old enough that I still get the free 50L a week stipends. I have a few newer alts and coming up with money is always a pain since I don't care to spend my days camping. Generally the money comes of course from my main account. It's not like I've never bought Lindens. When I want something larger I pony up and for a while I was renting a few apartments which require Lindens. I think I figured up once that over the years I've probably throw 50-75 US dollars towards Linden Labs. Alternately, maybe instead of a few lindens per week, the ability to day, upload 10 textures a week free. Or ten textures/sounds/animations. Something to help incite new players into building things or making clothing to try to sell. 10L isn't much but when you're working for 2L an hour in a camping chair it's a LOT. On the other hand, I've tried selling the things I make through various outlets with zero success. Anyway, I think that goes along with the spirit of this blog post. Second Life could certainly benefit but SOME form of currency distribution through Linden Labs. The big problem is of course preventing abuse.

One thing I am supremely grateful for is that my account is old enough that I still get the free 50L a week stipends. I have a few newer alts and coming up with money is always a pain since I don’t care to spend my days camping. Generally the money comes of course from my main account.

It’s not like I’ve never bought Lindens. When I want something larger I pony up and for a while I was renting a few apartments which require Lindens. I think I figured up once that over the years I’ve probably throw 50-75 US dollars towards Linden Labs.

Alternately, maybe instead of a few lindens per week, the ability to day, upload 10 textures a week free. Or ten textures/sounds/animations. Something to help incite new players into building things or making clothing to try to sell. 10L isn’t much but when you’re working for 2L an hour in a camping chair it’s a LOT. On the other hand, I’ve tried selling the things I make through various outlets with zero success.

Anyway, I think that goes along with the spirit of this blog post.

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