What happened to the premium price with silvers?

    • Player112 wrote:

      The price is lifted to reduce the number of people doing that. If these people end up quitting, the price will come down again.
      Wrong.

      Gatuno wrote:

      It jumped from 5 millions to 6.5 millions in less than 24 hours, what gives
      Supply and Demand. Gold is a limited commodity that you cant farm in-game but demand for it is too high. So as long as players will continue to buy gold at these prices - the prices will only rise. There is also a possibility of gold market manipulation by wealthy players.
      This is a normal market process.
    • Gold is a fixed price if you buy it with RL money.
      Well, not really, because some of us took advantage of the discount last week when it was 2k per and and now some are selling it all back at 2.5k around a week later.

      Some of us will wait maybe another week after that and gold will be sucked out of the economy through the vanity stuff, so we'll be selling it for 3 - 3.5k then.

      @Player112 - punching in those credit card numbers and spending ten bucks a week ago has fruitfully multiplied much more heartily than your oxes I'm sure.

      It takes me about 11 minutes to earn 10 bucks USD (net).

      Seems to me that if you were really the master trader you think you are, you'd have a better job, or at least apply your master skills toward making real money so you don't have to mess around acting like raising virtual goats is the pinnacle of your existence.
      1.23.40b patch UO Feluccian from Minoc, Pacifica.

      The post was edited 3 times, last by Elsa: Too much ().

    • Xanthirius wrote:

      TheArimatheus wrote:

      Seems to me that if you were really the master trader you think you are, you'd have a better job, or at least apply your master skills toward making real money so you don't have to mess around acting like raising virtual goats is the pinnacle of your existence.
      Holy shit lol.
      God Dam!!. gonna need a sensu bean for that one.
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    • Skitted wrote:

      What happens if all Gold would have been spend on skins and premium...how does new Gold enter the economy ?
      People buy it with RL money because/when the price per silver is so very high, which is more or less the "magical creation of wealth" because it effectively at that point comes from "nowhere". Then we take the gold purchased, sell it for silver, which floods the market with excess gold to the point where the supply curve intersects with the demand curve, and then the price falls a bit and plateaus for a period of time before the f2p players buy their premium with silver, which is immediately converted to gold, removing the gold from the economy, thusly re-adjusting the demand and supply curves for a new cycle all over again.

      The short answer is that ALL of the gold will NEVER EVER be converted to silver because the price of the last gold coin would be astronomically high. (think BILLIONS of silver for the very last gold coin if it ever came down to that)

      The bummer of the deal is that we, as players "playing the gold market" don't have access to the total volume of "shares outstanding" (ie: number of gold coins in existence) and the "daily volume" (ie: number of gold coins bought/sold over a period of time) to truly manipulate the market as it possibly could be.
      1.23.40b patch UO Feluccian from Minoc, Pacifica.

      The post was edited 3 times, last by TheArimatheus ().

    • For instance, with gold being ~2500 sil each right now before even the vanity gold gets burned, I'm going to wait to purchase gold with any more RL money until the price gets up to around 3500 sil, at which point I'll probably buy another 20-50 bucks worth, dump it all on the market for 3.5k sil each (or whatever I can get close to that, we'll see what the invisible hand deals us) and likely many others (like @Piddle) will have the same plan which will then immediately "devalue the currency".

      After that sale, I'll immediately put up a buy order for gold at ~2 or 2.5k sil with a 30 day time limit, then sell all that back for silver at the beginning of august hopefully for around 3k each, maybe more.

      If the system is working perfectly, then the gold market for a f2p player should never be profitable because they're using any silver gained through gold transactions to pay for their premium, since the price is tied to the rate of inflation. But a player that actually pays for permium with RL money should be able to turn a profit roughly equatable to the 6.5M sil or whatever the monthly rate for premium is through silver just by locking their money in gold to avoid inflation.

      Now as I said, that's if "the system is working ideally" and not being overly manipulated by other means, which of course it can be and often is through coordinated trades of mass volume, but that's also why there are restrictions on the amount of gold accounts can trade based on very opaque and varying criteria.

      Think of silver as a checking account and gold as a money-market account.
      1.23.40b patch UO Feluccian from Minoc, Pacifica.

      The post was edited 4 times, last by TheArimatheus ().

    • The additional market factor in play is that currently, those of us with substantial gold holdings are hoarding our gold and not releasing it into the open market, rightfully expecting that it will rise in value, which creates "false demand" or more commonly known as "a bubble". This is how RL recessions spiral out of control because people hesitate to spend their wealth in the open economy.

      This will have a two-fold effect.

      1) Prices will rise for most products (measured in silver) in the marketplaces until the gold price stops rising and falls into "correction territory".

      2) When the gold price does begin to fall, it will fall FAST. Currently there are likely very, very few large scale (meaning 5k gold or more) open sell orders for gold, so anyone that wants to buy premium with silver has to effectively buy the gold first, which is not available because we're not selling. But when we do place our sell orders, they'll have to be VERY carefully price-targeted so we aren't undercut by everyone else trying to get out during the sell-off.

      Always remember that EVERYTHING is ONLY worth what SOMEONE ELSE IS WILLING TO PAY FOR IT AT THAT MOMENT IN TIME.
      1.23.40b patch UO Feluccian from Minoc, Pacifica.

      The post was edited 10 times, last by TheArimatheus ().

    • Player112 wrote:

      Too many people buying premium with silver. The price is lifted to reduce the number of people doing that. If these people end up quitting, the price will come down again.
      I think you are projecting way too much of your own life upon others, expecting that they'd rather quit than spend 33 cents a day.

      You're the only person that openly admits he can't afford ten bucks a month yet claims to be the master of market dynamics.

      I'm really hoping that you realize, just as everyone else has, how ridiculous you look in these conversations. But go ahead and keep drinking your water at the bar, bitching about the music. Those of us that pay to keep the lights on and feed money into the jukebox just plain don't care about your opinion, @Player112. Sorry.

      Has anyone, ever once thanked you for the information you're provided as an answer to one of the "general questions"?. No, you've been a small, hateful little person that is only motivated by promoting the already inflated ego you possess.
      1.23.40b patch UO Feluccian from Minoc, Pacifica.

      The post was edited 3 times, last by TheArimatheus ().