The sudden plummet in price for gems at roughly Thursday 2pm. From roughly 2.2Gold to 1.6Gold. Surely there’s ‘someone’ buying a LOT in order to cause such a big drop in the price?
The price of gems has been confirmed to be completely controlled by ArenaNet, who confirmed it, ArenaNet, in a previous post in this forum. I don’t know if the number of people purchasing gems has anything to do with it.
What post would that be?
One thing I have wondered:
if someone sells 10,000 gems for gold, then someone else buys 10,000 gems with gold, will the gem->gold price be the same after as before? (is it the same increase as decrease?)
also, I’d like to point out (I’m not sure if Anet has thought of and accounted for this):
if you sell 100 gems you get (as an example) 1.5g. if you buy 1.5g worth of gems, you will only get like 85 gems (for example). However, when someone sells 100 gems for 1.5g, the exchange rate goes down so the next 100 gems may only give 1.499g. and that 1.5g would then buy 85.01 gems. If this is the case, then it’s only a matter of quantity before it’s possible to make instant profit from buying/selling gems. example: sell 100,000 gems and get 1,500g, then price of gems goes down to 100 gems for 1g, then you buy 100,000 gems for 1,150g (I’m assuming it costs 15% more to buy gems than selling them will bring)
This was an exploit in Fable and many other games. I would hate for it to exist here as well. It is very possible to have less simplistic mechanics that make this impossible.
I thought of this before release, it won’t work; although I highly encourage you to give it a shot