It was, on the financial scale, a shaking so small, that it is like the orgasm of a flea, but it just happened. According to my partner, who monitors this, at 8:30 SLT, with the linden selling at 263, someone put in a sell for 5 million linden at 264. Moments later that same person withdrew it. 5ML order would have been a sign that someone was willing to spend 70 USD, right now, to defend the 264 line, or to get money out right now. Had it been joined by other large trades, it would have been a sign that people with a great deal of Linden wanted 264.
The currency traders have joined the move.
[Updated, now I am addicted watching this. Someone just put 5 million up at 264. Saying, in effect, they are willing to pay 70 dollars to have their money out now in this quantity. But you can see how a few big players capable of selling 15,000 USD of linden, are determining the outcome. Even mid sized businesses can't compete.]
Lillie,
ReplyDeleteThis is kind of fascinating yes:-) Where can you track individual orders?
Also, I do wonder about Linden Labs' (tm) role in this: Do they sell lindens for USD? What kind of guidelines do they use to set the rate? Normally, in a RL economy, its the national bank who will issue new currency, using their rates to stabilize the rate. Is LL taking on the same role here? Anyone knows?
Cris
LL sells Linden, that's published in their economic numbers as the limits of "supply linden."
ReplyDeleteAs for individual orders, I don't know, I can ask though.