On Monday Linden Lab announced the end of the L$ Reseller Program. As of August 1st, 2015 it will only be possible to buy L$ from the Linden Exchange. Resellers have about 6 weeks to sell their stock of L$ and close their businesses.
In the announcement they provide a video tutorial on using the Linden Exchange for those that have never used it. Apparently some people have only used Resellers for their purchase of Linden dollars.
I don’t remember the Lab telling people that the Reseller Program would be a temporary step in their plans to provide international players access to L$. So, I suspect some people will be upset with the Lab.
Some time ago US law changed and the US Treasury Dept started enforcing regulations to control money flow. The stated reason being to stop terrorists from laundering or moving money. That forced the Lab to change how they handle the exchange of L$ for US$. That change crippled their international currency exchange.
To make L$ available to international players the Lab started the ‘Pilot’ Reseller Program. I don’t remember the word ‘pilot’ being associated with the program before this announcement. But, going back to May 2013 I find they referred to the program with these words, quoting:
Now, to give users more options and make it easier to purchase L$, we’re launching a pilot program of Authorized Resellers of L$. These sites are authorized by Linden Lab to purchase L$ on the LindeX and then resell those L$ using a variety of international currencies and payment methods. To be clear: per the Terms of Service, these resellers will not be allowed to purchase L$ outside of the LindeX (i.e. they will not be able to buy L$ back from users and cash people out). The list of Authorized Resellers participating in the pilot program is available here.
The emphasis in the quote is mine. See my article: Lab Makes L$ Exchange Announcement.
I am sure we will hear screams. But, pilot programs end. So, some change should have been expected. Whether the Lab was all THAT up front about there plans… I’ll just say one has to be way careful what they base their business model on and who they trust.