The site The Next Web has an article about how blockchain currency is democratizing the virtual world, VR, and real life. The Sansar Project gets into it because Ebbe Altberg is quoted. Not because Sansar will use a cryptocurrency.
First, do you know what a blockchain currency is? I barely do. Quoting:
A blockchain is a digitized, decentralized public ledger of cryptocurrency transactions. Essentially each ‘block’ is like an individual bank statement. Completed ‘blocks’ (the most recent transactions) are added in chronological order allowing market participants to keep track of the transactions without the need for central record keeping. Just as Bitcoin eliminates the need for a third party to process or store payments, and isn’t regulated by a central authority, users in any blockchain structure are responsible for validating transactions whenever one party pays another for goods or services.
That explanation isn’t all that helpful. If you think of a cryptocurrency as a paper dollar that you print but yet cannot be forged and shows who paid for it and printed it… you sort of get an idea. This is extreme free market stuff and requires a good grounding in free-market economics to make sense.
Blockchain currencies and other cryptocurrencies depend on complex encryption processes requiring huge amounts of computer time. No one seems to think about how quantum computing may change the game. So, for now, these new currencies are the hot thing. Hot as in one currency project raised US$25 million in less than a minute.
I suppose it is the freedom from the control of centralized governments where politicians try to control us that makes them so valuable. Continue reading →
A lot was written a few weeks ago about the instability in the Second Life™ Lindex. Darrius Gothly wrote: The Math Behind the LindeX. It has enough misconceptions I am moved to provide a counter point and more accurate information.
Marionette – 3
I’m moved to do it at this time because of a recent post in the forum. Some one thought selling L$ at L$265/US$1 on July 29 was setting the price to high… high!?! No that is pretty low, for a seller. Continue reading →
There is more and more being said about the Lindex and the current trend in exchange rates. I was curious about trend so I’ve been graphing it.
The raw data comes from Linden Lab. Tyche Shepard collects that information and has since 2009. (See: GridSurvey) The Lab publishes the raw numbers for the last 30 days and charts it for that last 90 days. My chart is a combination of both. The last 5 days have not shown up at Tech’s. The last few days are the most interesting. Continue reading →
When it comes to currency exchange Americans tend to be ignorant of how it works. Europeans that travel are much more knowledgeable, at least in my experience. That knowledge difference seems to have led to some conspiracy theories about the recent price of Linden dollars.
Lindex Buy Sell Orders 2016
The image is the list of pending buy and sell orders placed in the Lindex market as of 9AM PT 5/24. Continue reading →
Fees are going up. You can read the announcement to see why, but the info is:
As of April 5, 2016, instead of charging a flat fee of $1 (USD) per transaction, we will charge a fee of 1.5% of the transaction value, with a minimum fee of $3 (USD) and a maximum of $15 (USD). Additionally, the fee for purchasing L$ on the LindeX will increase 10¢, from $0.30 (USD) to $0.40 (USD) per transaction.
For years we have in Second Life™ have complained about how poorly Linden Lab communicates with users/customers. Over the last couple of years that has improved. But, there are still areas in which the Lab seriously fails.
Daniel Voyager Plurked about Grendel’s Children Saved From Shutdown. This a somewhat common occurrence. I’ve long thought anything one wants to do with Lab will require far more time than one will imagine. This is another story adding support to my thinking.
On Monday Linden Lab announced the end of the L$ 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. Continue reading →
Someone in the forum is thinking now is the time to cash out their dollars for Euros. It might be. But, it is not a simple decision. Both market and personal factors set when is best.
Today the exchange rate is US$1.00=€0.95. (That changes by the minute) January 1, 2015 it was €0.826. So, if you cashed out US$1,000.00 in January you got €826. If you cash out today, you will get €951. Is that a good deal? It depends.
Dollar to Euro Exchange Rates 2015
According to the graph the trend is a strengthening dollar and a weakening Euro. So, the longer you wait the more Euros you are likely to get for your dollar. Said another way, euros are getting cheaper, losing value. The problems with Greece and the European banks is portending big problems. People are abandoning the euro in anticipation. Continue reading →