extremely quick rising Gold price is a reason to stop trading. Our economy is dying.

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    • extremely quick rising Gold price is a reason to stop trading. Our economy is dying.

      Example:
      Someone invested 5 million and earned back 7 million in 4 days.
      That is 40% profit in 4 days.
      Sounds good?

      No it is a horrible trade!

      Gold went from 169 to 266 in 4 days.
      This is 57% profit
      This means that our trader of the example lost 17% of profit for actually doing something with risk, while doing nothing was the way to go.


      Now i understand that selling gold is the earningsmodel. And i understand that gold wil rise quickly during the first few days.
      However the goldprice rising so quickly after a month is destroying every single businessmodel that seemed viable.
      It may also proof that there are botters busy botting the crap out of something. Why? because there was actually an entire week inwhich the gold price stayed almost the same and then all of a sudden the goldprice started going through the roof. This was still far before everybody needed to buy more premium accounts at the end of the month.

      It is very important for an economic game like this to have a goldprice that doesn't go up more then lets say 10% per week.

      My advice would be to:
      1. Don't have a goldmarket during the first week after the release.
      2. Fight inflation as if there is no yesterday.evening.
      3. Find out if somebody is botting the crap out of something in this game.

    • Bajoli schrieb:

      Example:
      Someone invested 5 million and earned back 7 million in 4 days.
      That is 40% profit in 4 days.
      Sounds good?

      No it is a horrible trade!

      Gold went from 169 to 266 in 4 days.
      This is 57% profit
      This means that our trader of the example lost 17% of profit for actually doing something with risk, while doing nothing was the way to go.


      Now i understand that selling gold is the earningsmodel. And i understand that gold wil rise quickly during the first few days.
      However the goldprice rising so quickly after a month is destroying every single businessmodel that seemed viable.
      It may also proof that there are botters busy botting the crap out of something. Why? because there was actually an entire week inwhich the gold price stayed almost the same and then all of a sudden the goldprice started going through the roof. This was still far before everybody needed to buy more premium accounts at the end of the month.

      It is very important for an economic game like this to have a goldprice that doesn't go up more then lets say 10% per week.

      My advice would be to:
      1. Don't have a goldmarket during the first week after the release.
      2. Fight inflation as if there is no yesterday.evening.
      3. Find out if somebody is botting the crap out of something in this game.
      The reason why gold rises so fast is due to the fact that there's a ton of silver just sitting around. Players aren't dying, therefore they're not spending silver on goods in fact they just spend it on gold now. To be honest I am surprised it even held at 160-180 for a week or more, but then again that actually made sense considering this beta test is only 4 months. There's no reason to buy additional gold outside the realm of four months for your character(s).

    • I think people aught to spend a bit more time thinking on this.

      There is only 3 uses for gold in the game:

      1) Speculation
      2) Vanity items
      3) Premium

      So lets ask the question: what would cause prices to rise fast at a particular point in the game?

      1) Speculation could be the reason, but without an external event (news) making people believe it will rise fast, it won't rise fast.
      2) Vanity items are nice, but there is no particularly good reason why people would en-masse start to buy gold to get them, right?
      3) Premium... We all started with it. Some of us got 30 days, some of us got 60 days and some got 90 days at start.

      I think we have an obvious winner, since..

      Bajoli schrieb:

      goldprice rising so quickly after a month
      makes it quite obvious that those who bought the 30-day premium package ran out, and needed to refill.

      Expect the same bump next month, and the month after, just with smaller rises since they..

      1) had more starting gold, and might've spent more on extra premium.
      2) have had more time to get more premium to avoid a rush.

      As for the gold price killing the economy.. Sure, markets are highly affected. Silver is heavily inflated during those rushes; but economy have recovered before and will recover this time as well.

    • It is "demand-boost" coz premium status on most veteran account coming to end. So every player trying to buy premium for next month with silver and it is rising up pretty fast. There will be another one demand boost in next 2-2,5 monthes, when most of "free" gold will gone and after that gold price will be actually stable around 450-550 silver per 1 gold. Every beta it is same scenario and every beta someone crying about it.

    • If you keep more than 20k silver on your character when you aren't actively buying shit idk what to tell you. Gold will always go up up up, so your money is earning you money while you sleep...

      The more silver is in the game (time goes by, people kill mobs, more silver in the gameworld) the less valuable each piece of it is. standard inflation.

    • There are speculators on gold market. And it is just a silver making tool. You can see big orders rolling over and over again and making silver. If you have 100k gold you can make 100k silver just by selling it +1 gold higher. 100k is pretty big vs compare it by killing mobs and get that. +10 gold higher and its 1mil. Usually you can see two big orders with difference 2-4 gold and just wash silver.
      The market has big flaws. There should be 5% tax (of total value) whenever you set up order (even failed ones) This prevents silver washing and also speculation to rise market. Currently you can set up order just by 10 silver.

    • Bajoli schrieb:

      Someone invested 5 million and earned back 7 million in 4 days.
      That is 40% profit in 4 days.
      Sounds good?

      No it is a horrible trade!

      Gold went from 169 to 266 in 4 days.
      This is 57% profit
      If you think how real gold currency work, its actually quite normal. The one that invest in the gold market will always be profitable.
      Its not a rich man's game but a smart game, the one that invest in the best market will always be more profitable.

    • Stop gold speculation please!



      The price of gold increased by 25% in the last 24 hours. This is pretty horrible. No, not the new price, the change itself. Why? Because last evening and today early morning I played over 4 hours, being engaged and immersed in the game and happily noticed that I made over a million silver by clever trading and was pretty happy about my performance. Then I saw the gold prices and realized that if I had just sold everything and bought gold for all my cash, I could have finished in 10 minutes and made 4M silver over the increase. So now I do just that, I sold what can be reasonably sold and bought gold. I now have 57.5K gold (the order on the picture filled). If the gold price increases by just 20 silver, I'll be another million silver more rich without loging in.

      I understand that gold prices need to change according to both supply and demand and the monetization goals of SI. I don't want to get rid of gold changes, I want to get rid of gold speculation, aka buying gold when cheap and selling when high. Making guesses about game monetization schemes and player spending behavior isn't gameplay at all.

      I suggest to do what Blizzard did with tokens:
      • make 2 kinds of gold, unlocked and locked
      • when you buy gold for $ or receive it for referral or with a founder pack, your gold is unlocked. You can use it for everything as today, including selling it for silver.
      • when you buy gold for silver, you receive locked gold. You can't sell locked gold on the marketplace, but you can use it to buy premium or spend it on yourself any other way available.
      This way there can't be speculation, if you bought gold with silver, you can't sell it anymore. With that change I wouldn't be writing a post, but would be playing right now, as I had no reason to buy gold until I need premium for any of my characters. I want to play. But I also want to play optimally and if the optimal way of getting silver is not logging in until gold price stabilizes, I won't log in.
      Blog: greedygoblin.blogspot.com

    • Well with the current system what I had a bunch of friends doing was farming up silver, and then swapping it all to gold, waiting for the price to go up and banking big times, so imagine what it would be like if a person farms up millions of silver and then turns it all to gold and stops playing for a few months comes back and has over a billion silver.

    • Seriously dont even know what to say to this. Im a real life day trader, ure saying 40% in 4 days is unfair. Bro... have u even seen ppl making 2000% in 1hr lol, and thats just stocks. Dont even get me started with cfd...

      U know how many arms manufacturers gone crazy just because trumps going to start ww3? ya well u know, welcome to real life, its really not that uncommon for ppl to just buy 100k gold if they feel like it or some windfall happens to them. I can hold my stocks for 4 days, if they went up a couple % thats prolly about 10k already, If i feel like it i can chuck in $500 and buy 100k gold. So are ppl gonna complain about that? not really, coz no one cares.

      Thats how the market works, just go on with it.

    • Taurean schrieb:

      In a free, player-driven market, there will always be speculation. Although playing the markets is not my thing, I don't see this as a problem. Market pvp is as valid as any other form of pvp.
      Speculate on Slate Block! Or T6.2 mace. Or T7 horses. Or on any game item. Gold is not a game item, no gameplay involves gold (you can't craft gear or use it as consumable or feed it to horses), it's a real money equivalent. Speculating on gear needs you to understand how players play (big guilds go to war, they will lose gear, buy gear, prices go up). Speculating on gold needs you to understand SI marketing dept and how people spend their money.

    • Come on people, everyone knows this. This is nothing new ffs... been how long now? 2-3 yrs?

      To be honest its pretty pathetic, all that farming gold/conversion etc..

      If udo that math its like $5 per hr or something lol, or even less, theres thread like this all the time. Theres one that actually done the math, it is really really sad. I rather go work 1hr in real life, even the min wage u still be earning $20 with a net profit for $15 per hr, u can also use the $15 to buy even more gold.

      End of the day this issue is so trivial that its not even worth mentioning, come on who doesnt know about this, seriously.

    • agrias schrieb:

      Seriously dont even know what to say to this. Im a real life day trader, ure saying 40% in 4 days is unfair. Bro... have u even seen ppl making 2000% in 1hr lol, and thats just stocks. Dont even get me started with cfd...

      U know how many arms manufacturers gone crazy just because trumps going to start ww3? ya well u know, welcome to real life, its really not that uncommon for ppl to just buy 100k gold if they feel like it or some windfall happens to them. I can hold my stocks for 4 days, if they went up a couple % thats prolly about 10k already, If i feel like it i can chuck in $500 and buy 100k gold. So are ppl gonna complain about that? not really, coz no one cares.

      Thats how the market works, just go on with it.
      The difference being that A) this is a game and B) the stocks you're talking about are generally risky where as gold (the premium currency in-game) investments has next to no risk.