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Gem / Gold Exchange Rates


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#31 awanderer101

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Posted 23 August 2012 - 12:05 PM

Just a suggestion ,  what  if  Anet were  to impose a daily restriction on the amount  of gems(  per account ,  not per toon ) that  a person would be able  to purchase from the trading post ?   As  an example  lets   say  50 gems  per  day  per account .  Wouldnt that  kind  of cripple  the gold farmers / botters   from making  huge amounts of  RL cash ?

#32 Linfang

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Posted 23 August 2012 - 06:08 PM

View PostMatthias Umbra, on 21 August 2012 - 05:07 PM, said:

So would it be plausible to wait to purchase gems with in-game gold for a new character slot, or should I just go ahead and drop the $10 at launch for one?  What were the in-game gold prices per gems around during the Betas?

My decision would be based on perhaps how important the character names are to you. If you could care less about names I would wait to buy a extra character slot,

#33 Anlyon Spellrage

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Posted 24 August 2012 - 06:26 PM

I see 'buying gold with gems is more expensive than buy gems with gold' and i head-desk.

You get gold (lets say 1 gold exactly for an example) for selling a gem.
If you then turned around and bought a Gem, it would cost you 1gold and 30 silver.

This means buys gems with fake money is not as effective as buying gems with real money.

This does two things;

1. Incentivises using the cash shop for gems and ingame gold, since these 'real money gems' are inherintly 30% cheaper since you have to spend 30% more to get one via gold.
2. dis-incentivises use of gold sellers, since in order to get cash shop items they have to spend 30% more to get a gem than if they bought if off ANet.

The higher the rate, the MORE it discourages gold sellers, since people who bought off them have to spend so much more.
However, since the higher rate also hurts people trying to honestly buy gems without paying real cash, the rate isnt too steep.

#34 Corvindi

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Posted 24 August 2012 - 06:34 PM

View PostAnlyon Spellrage, on 24 August 2012 - 06:26 PM, said:

I see 'buying gold with gems is more expensive than buy gems with gold' and i head-desk.

You get gold (lets say 1 gold exactly for an example) for selling a gem.
If you then turned around and bought a Gem, it would cost you 1gold and 30 silver.

This means buys gems with fake money is not as effective as buying gems with real money.

This does two things;

1. Incentivises using the cash shop for gems and ingame gold, since these 'real money gems' are inherintly 30% cheaper since you have to spend 30% more to get one via gold.
2. dis-incentivises use of gold sellers, since in order to get cash shop items they have to spend 30% more to get a gem than if they bought if off ANet.

The higher the rate, the MORE it discourages gold sellers, since people who bought off them have to spend so much more.
However, since the higher rate also hurts people trying to honestly buy gems without paying real cash, the rate isnt too steep.


I think it's a good thing for a slightly different reason.  It might discourage gem speculation (buying a ton of gems while gold is scarce and holding them to sell when gold is flowing better and gem prices are going up).  While I would do this myself if it looked profitable, I think I'd rather it never be very profitable.  The market is going to end up screwy enough as it is.

#35 mutecow

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Posted 27 August 2012 - 04:05 AM

View PostZudetGambeous, on 04 August 2012 - 12:20 AM, said:

From the interface in the last 3 BWE's.

You don't set the price you sell/buy gems for, it is decided for you by the game (Anet) not by the players. Also you buy gems for significantly more then you sell them for. It's a controlled market by definition.

jesus, learn how a market like gw2 actually work.

anet is acting as a market maker, which means that when there is no liquidity (no buyer or seller), they act to create the liquidity. thats why initially they set a price and sell gold. this creates a negative balance on their account (i.e they injected 100 gold into the economy), later on they will reabsorb that 100 gold  to even things out.

so yes, on day one anet will "create" gold out of nowhere if no one is selling them. but later on when liquidity starts flowing they will take back that 100 gold they added in initially. The end result is that the net amount of gold is whatever the players produced through gameplay.

the 30% is a bid/ask spread. in the real world its what the market maker on a stock exchange earns in profit. in gw2 it serves as a gold sink.

Quote

It's a controlled market by definition.

no its not. its what a market maker in a stock exchange does. they need to start with a price, then let market do the adjustments. if the price they started with is too high, it will decrease, if its too low, it will increase. free market allows the price to adjust, but there is to be a starting to adjust from.

Anet gave a price to start the ball rolling, then let market adjust. By definition thats the opposite of controlled market. price to buy gems went down from 40s to 30+s per 100gems. thats free qorking working its magic.

Edited by mutecow, 27 August 2012 - 04:14 AM.


#36 ZudetGambeous

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Posted 27 August 2012 - 02:24 PM

View Postmutecow, on 27 August 2012 - 04:05 AM, said:

jesus, learn how a market like gw2 actually work.

anet is acting as a market maker, which means that when there is no liquidity (no buyer or seller), they act to create the liquidity. thats why initially they set a price and sell gold. this creates a negative balance on their account (i.e they injected 100 gold into the economy), later on they will reabsorb that 100 gold  to even things out.

so yes, on day one anet will "create" gold out of nowhere if no one is selling them. but later on when liquidity starts flowing they will take back that 100 gold they added in initially. The end result is that the net amount of gold is whatever the players produced through gameplay.

the 30% is a bid/ask spread. in the real world its what the market maker on a stock exchange earns in profit. in gw2 it serves as a gold sink.



no its not. its what a market maker in a stock exchange does. they need to start with a price, then let market do the adjustments. if the price they started with is too high, it will decrease, if its too low, it will increase. free market allows the price to adjust, but there is to be a starting to adjust from.

Anet gave a price to start the ball rolling, then let market adjust. By definition thats the opposite of controlled market. price to buy gems went down from 40s to 30+s per 100gems. thats free qorking working its magic.

So what your saying is that players aren't FREE to set the price and that the price is CONTROLLED by Anet... i'm glad we can agree that it is a controlled market then.

#37 Wanderlust

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Posted 27 August 2012 - 06:30 PM

As an economist myself, I'm going to keep quiet here with specifics so as to not completely ruin my chances for profiting off of the currently low exchange rate.

#38 evilbob

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Posted 27 August 2012 - 08:37 PM

Now that the game has started and I see how it works, I must confess I did not have a good understanding originally.  mutecow (minus the rude comment) has it right.  I'm not sure where the market will go eventually, but yes:  at the moment you can exchange gold for gems and both of those resources are created out of thin air.  Presumably this will eventually change like mutecow is suggesting.

As of today, you could buy 1 gem for about 40 copper.  That's still prohibitively expensive even for the cheapest gemshop items (for example, 125 gems @ 40 copper ea. = 50 silver).  I am guessing that pretty soon sums like 50 silver won't be too hard to come by, though (especially looking at end-game item pricing).  It will be interesting to see how this number moves over time.

By contrast, selling gems for gold was definitely worse - I don't recall the specific number now, however.

Presumably players will continue to influence the market, and due to gold inflation the cost of gems will still presumably rise:  but I admit I'm less sure overall now.  I didn't fully understand just how much control over the market AN would exert.  I'm also a little confused by their "5 day" market analysis chart (that appears when you go to the gold->gem trading option), which seems to indicate that gems are costing 37-40 silver each - but I'm guessing I'm just reading that chart wrong.

Edited by evilbob, 27 August 2012 - 08:41 PM.


#39 Painbringer ®

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Posted 27 August 2012 - 08:49 PM

Just tell me if I did good or not.  By mistake I hit a button last night and purchased 10 gems for around 3.5 k gold.  Button mashing for NOOBLET 101.  Still working this whole thing out.

On topic ~ Its a monitored market that can be controled by Anet if they wish. I am sure they let Players fluctuate it but when it gets close to out of hand they step in.  We will never know the truth and sopeculations may up and down it but when I am sure they do not want the ecto crash happening anytime soon so

#40 evilbob

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Posted 27 August 2012 - 08:59 PM

As of a few hours ago you could buy 10 gems for 4 silver.  So if you typed that correctly, you overspent by about 3499.6 gold.  (How in the world did you have 3500 gold on day two?)


Personally, I would think AN would want gem prices to be low right now; I know I've personally looted about 3 of those boxes you have to purchase keys to open, and even 40 copper / gem is WAY too much for me to bother spending gold.  (Can you get those keys any other way?)  I could also just spend about 1.57 ($ or euro) to get gems for a key, but that also seems far too expensive.

#41 Painbringer ®

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Posted 27 August 2012 - 09:10 PM

View Postevilbob, on 27 August 2012 - 08:59 PM, said:

As of a few hours ago you could buy 10 gems for 4 silver.  So if you typed that correctly, you overspent by about 3499.6 gold.  (How in the world did you have 3500 gold on day two?)

My bad it was silver 3.5 or so

#42 evilbob

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Posted 27 August 2012 - 11:22 PM

3.5 silver means you did great.  That's 35 copper each, which is about right or slightly better (see below).

After a little more experimenting, what I have found is that your exchange rate depends on the number of gems you purchase.  This is odd, but it may be due to the fact that I am using very small numbers and there is a lot of rounding.  What I found was that 3 gems went for nearly 41 copper each, 5 gems went for about 37 copper each, and 8 gems went for about 38 copper each.  As these numbers suggest, it's almost random what you get and doesn't follow a set direction (not necessarily a bulk rate for higher purchases).  Also, I was specifically trading down to the copper; for example, 183 copper bought 5 gems, but 182 and lower bought 4 gems.  In this case, it's best to play a bit with your total for the maximum benefit - unless nearly 40 copper is effectively not worth your time (about the max you could lose).

You also cannot trade for just one gem, apparently.

Also, the rates to trade gems for gold seemed to fluctuate in the same way, but generally they were about 25-30 copper per gem.  That's between 30% and 17% (using my tiny sample data) depending on how you buy/sell.

Also, the "market watch" clearly still references 37-40 silver.  I'm not sure what it's actually watching, or if the data is just skewed due to the lack of 5 day's worth of anything.  Maybe in a week it will sort itself out.

In the meantime I may watch gem prices and see where they go just for fun.  :)

#43 evilbob

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Posted 29 August 2012 - 01:15 PM

I checked again a day later and the price of gems in gold seemed to have dropped slightly; it was closer to 35-36 copper each (on average; again:  the prices fluctuate depending on how much you buy).

At this point we can really only speculate what causes the market to move in any specific direction; presumably it was player demand but now that we know specifically there is a person whose sole job is to manipulate the market (or keep it from being manipulated, depending on your perspective) we really can only guess.  But if we disregard this person, I would suspect that a large influx of player cash for gems (and subsequently, for gold) would be driving the price down a little.  Considering yesterday was the first full launch day, that was pretty expected.  It will be interesting to see if prices start to rise, now that there are more and more people raising up in level and getting better access to gold.

#44 Aria Frost

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Posted 29 August 2012 - 01:38 PM

Just to provide additional data: this morning I bought 3 gems with 121c (average price of 40c each). I have the same feeling that price fluctuate depending on how much you buy (to buy a single gem it took me 61c).

#45 FoxBat

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Posted 29 August 2012 - 02:32 PM

Look carefully about how much gold actually gets deducted from your inventory. There's some tomfoolery where the quoted price isn't always what you end up paying.

#46 mutecow

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Posted 29 August 2012 - 03:47 PM

View PostZudetGambeous, on 27 August 2012 - 02:24 PM, said:

So what your saying is that players aren't FREE to set the price and that the price is CONTROLLED by Anet... i'm glad we can agree that it is a controlled market then.

seriously?

how do you think a competitive system works? the market price of a good just magically appear?

someone starts the game by setting a value. ANY value.

controlled market = value is static

non-controlled market = value changes

value of gems/gold changes on TP, this its a non-controlled market. Its that simple. econs 101.

Quote


players aren't FREE to set the price

the market sets the price. the market's price is based on players' actions. hence players are setting the price.

Just because an individual cant set the price doesnt mean players cant set the price. a farmer doesnt have the ability to set his prices either, that doesnt mean the price he is selling at is controlled by the gooverment. It makes no sense to allow youu to sell at 10g when market price is 5g and buyers can instantly buy at that price, neither does it make sense for the system to allow have the option for someone to sell at 5g when they can instantly sell at 10g

a stocks at any instance in time sell at X price. you cant sell for more because no one will buy it, neither can you sell for less unless you are doing a private deal. the TP works in the exact same way. are you going to start talking about how the stock exchange is a controlled market?

seriously, read up on basic economics before making comments about the market.

Edited by mutecow, 29 August 2012 - 03:54 PM.


#47 ZudetGambeous

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Posted 29 August 2012 - 04:43 PM

View Postmutecow, on 29 August 2012 - 03:47 PM, said:

seriously?

how do you think a competitive system works? the market price of a good just magically appear?

someone starts the game by setting a value. ANY value.

controlled market = value is static

non-controlled market = value changes

value of gems/gold changes on TP, this its a non-controlled market. Its that simple. econs 101.



the market sets the price. the market's price is based on players' actions. hence players are setting the price.

Just because an individual cant set the price doesnt mean players cant set the price. a farmer doesnt have the ability to set his prices either, that doesnt mean the price he is selling at is controlled by the gooverment. It makes no sense to allow youu to sell at 10g when market price is 5g and buyers can instantly buy at that price, neither does it make sense for the system to allow have the option for someone to sell at 5g when they can instantly sell at 10g

a stocks at any instance in time sell at X price. you cant sell for more because no one will buy it, neither can you sell for less unless you are doing a private deal. the TP works in the exact same way. are you going to start talking about how the stock exchange is a controlled market?

seriously, read up on basic economics before making comments about the market.

Well I guess we will just agree to disagree. If I want to undercut the market and sell at a cheaper price I should be able to. I believe in a totally free market, which is not how the stock exchange works which is coincidentally why it keeps crashing and having large ups and downs.

#48 mutecow

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Posted 29 August 2012 - 06:09 PM

View PostZudetGambeous, on 29 August 2012 - 04:43 PM, said:

Well I guess we will just agree to disagree. If I want to undercut the market and sell at a cheaper price I should be able to. I believe in a totally free market, which is not how the stock exchange works which is coincidentally why it keeps crashing and having large ups and downs.



Quote

Well I guess we will just agree to disagree.

no. we cant "agree to disagree" about factual issues. The definition of controlled/non-controlled is set in stone. whether gw2's econ is controlled or non-controlled is a fact, not an opinion. its an empirical factual truth that its non-controlled. there is no leeway.

Quote

If I want to undercut the market and sell at a cheaper price I should be able to.

Undercut = selling at lower price to get customers

you cant undercut because you wont sell to more customers, nor will you sell faster. the market will buy all of your items at market price instantly. selling at lower market price in this case isnt undercutting.

you can sell instantly at 10g, you literally have to decide to self-sabotarge yourself to sell at 5g. the system is made for players acting in a rational manner. the reason you can't sell at lower than market is the same reason there isn't a "kill myself" skill button in the middle of your screen. are you going to complain that anet is infringing on your freedom by now allowing you to die whenever you want?

once again, just because the system is designed under the assumption that players dont want to engage in wanton self-sabotarge doesnt mean its anti-freedom. the developers dont design their game based on what a lunatic might want to do.

Quote

I believe in a totally free market, which is not how the stock exchange works which is coincidentally why it keeps crashing and having large ups and downs.

i dont know what to say to this. the ignorance is staggering. large up and downs are the RESULT of non-control. Same with most crashes. goverment/exchange interventions work to remove crash and reduce fluctuations.

and no, you dont believe in a *"totally free market"*. Its plainly obvious you dont even know what a "totally free market" is or how it functions. Whatever it is you seem to believe in, its not a "totally free market".

Edited by mutecow, 29 August 2012 - 06:18 PM.


#49 Inglorious Bass Star

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Posted 29 August 2012 - 06:16 PM

Maaannnn, lots of people here have no clue what "Pay to Win" is. You don't need anything in the item mall to progress through the game. It's there to get revenue for the Developer post-purchase; why should they practically give it away?

#50 aop

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Posted 29 August 2012 - 09:33 PM

GW2 Currency Exchange isn't comparable to real world market for one reason: ArenaNet can create both Gems and Gold from thin air.

I doubt all the gems or gold are coming from real players because that is bound to lead in rampart inflation, something like hundredfold increase in Gem Price after most of the people have hit lvl80 because making money in later levels is much faster and easier than on lower levels.

I'm just at lvl57 and I already bought over 1200 gems from the Currency Exchange for 4.5G and opened two bank tabs with those and that was with AH down and minimal player to player trading (sold one bow for 40S). So I got Gold for for over 1200 gems just by doing events and selling some items to vendors (mostly Green ones, since those are pretty common from lvl40+ onwards, give you ~1S per item and not much recources when salvaged) while leveling up. If I had had the patience to sell those items to other players I might have made even more.

There are already some signs of inflation, yesterday I got 420 gems for 1.5G, today when I logged in I got 419 gems for 1.5G and couple a hours later 417 gems for 1.5G. If ArenaNet doesn't create gems from thin air the inflation will accelerate until Gold is worth nothing.

View Postmutecow, on 29 August 2012 - 03:47 PM, said:

the market sets the price. the market's price is based on players' actions. hence players are setting the price.
You can't compare GW2 market with real world market because ArenaNet can create all the stuff traded from thin air. You have no way of knowing if those Gems/Gold you purchase come from real players or does ArenaNet just create them from thin air to fulfill your order.

#51 Wanderlust

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Posted 31 August 2012 - 07:56 PM

View Postaop, on 29 August 2012 - 09:33 PM, said:

There are already some signs of inflation, yesterday I got 420 gems for 1.5G, today when I logged in I got 419 gems for 1.5G and couple a hours later 417 gems for 1.5G. If ArenaNet doesn't create gems from thin air the inflation will accelerate until Gold is worth nothing.

That's the market's own doing, not A-Nets. Because the supply of Gold is increasing (players level, and the average gold earned per player rises) the availability of gold relative to gems is going to inevitably rise. The fact that gold is depreciating is simply part of the market responding to the larger supply of gold. The prices in the Black Lion trading store are invariable - They aren't changing. If the current exchange rate was artificially maintained, a player who pumped 100g into Gems would end up with something bordering 30k gems (Able to buy everything in the store multiple times over). That's not going to happen. Yes, the price of gems is going to inflate (when purchasing with gold). That has nothing to do with A-Net artificially creating Gems/Gold, and more to do with the simple economics.

#52 Vlak

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Posted 31 August 2012 - 08:45 PM

View PostMFGrady, on 19 August 2012 - 11:18 PM, said:

The gap is neccessary.

If the gold > Gem conversion as less, then who would buy gems? People would just farm gold and buy their gems with it.

If the gem > gold conversion was less, then people could just buy gems and get in game currency, ala "Pay to win"

This is one of the many features that Arenanet introduced which are completely optional and only benefit players which people always seem to find a way to deem "wrong" or "broken". If you don't like it don't use it.

Except you don't pay to win in this game, you 'Pay to get aesthetics' lol

Edited by Vlak, 31 August 2012 - 08:45 PM.


#53 tachycardias

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Posted 03 September 2012 - 07:48 PM

View PostVlak, on 31 August 2012 - 08:45 PM, said:

Except you don't pay to win in this game, you 'Pay to get aesthetics' lol

I see a lot of people saying this.  And I see a lot of people saying "at least they didn't do a RMAH BLizzard style."

I'd like to correct this misconception.

The only real difference between the RMAH and the GW2 system is that Anet has fooled you into thinking it's not a RMAH.  When you think about it, there is no real difference between:

RMAH: cash$$ -> gold/items

vs.

GW2: cash$$ -> gems -> gold -> items

The latter just makes you feel better because, hey, you're "only buying aesthetics".

#54 Mataris

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Posted 03 September 2012 - 07:54 PM

I sold 50 gems, then went to buy gems and could only buy 47. So a 6% loss

#55 IDarko

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Posted 04 September 2012 - 04:03 AM

They probably go up in price when new items are added to the shop. I bought about 1200 gems with ingame gold and about 1600 with real money. Spent 1200 on extra bank tabs. I see it as simply buying extra bank tabs for 2.25G. I don't need anything else atm. so i probably save the gems and transfer em back to gold when an expansion launches or when new items are added. Should be able to get a lot more money out of it, right? (i suck at economics).

Edited by IDarko, 04 September 2012 - 04:04 AM.


#56 FoxBat

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Posted 04 September 2012 - 06:47 AM

Gold won't be worth nothing, it's gems that are supposed to be worth a ton. The only reason they aren't is more people aren't at endgame uyet. Minimum wage job in America usually beats grinding for cash in developed game economies, don't expect to earn gems fast as the playerbase matures.

Edited by FoxBat, 04 September 2012 - 06:47 AM.


#57 evilbob

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Posted 04 September 2012 - 02:21 PM

This topic has been going all over the place, but I wanted to chime in again and say that very interestingly, buying gems for gold has pretty much continued to go slightly down - not up.  As of yesterday, gold prices for gems were somewhere around 33.2 copper per gem.  (The "chart" shown when you go to the gems->gold page is still completely useless as well.)  As far as I can tell, this price hasn't fluctuated too much and it has generally dropped a few copper since launch.

Since we really don't have a complete picture and since there is an invisible hand actively guiding the market we can only speculate.  However, this is certainly the opposite of my own guesses earlier.  I'm wondering now if the majority of people who were going to buy gems have bought them and spent them - and now the market for gems for gold is drying up a little.  The constant lack of a viable trading post has certainly played into the situation in an unexpected way as well; gold is worth less since you can't do as much with it.  And finally, the occasional inability to purchase gems has likely made a small difference, although this is much less common than the trading post being down.

I still suspect that gems will eventually be worth more since gold will eventually be worth less (since there will be more of it), but it may be that until there is anything besides character slots and bank tabs that really offer something to players, there may not be much in the way of gem purchasing going on.  It seems like people are either paying cash for gems, or they are not spending gems.  Considering that it would still take nearly 3 gold to buy one extra character slot - and not that many people have 3 gold just lying around yet - I can understand why there isn't much point in buying gems yet.

Or:  perhaps the gold sinks in the game are extremely well-balanced after all, and gold will continue to remain valuable for longer than we all thought?  I know that even now I find a 20 copper teleport to be expensive (all I can see is "another piece of jute" when I see 20 copper...).

#58 barcode120x

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Posted 04 September 2012 - 02:43 PM

View Postevilbob, on 04 September 2012 - 02:21 PM, said:

This topic has been going all over the place, but I wanted to chime in again and say that very interestingly, buying gems for gold has pretty much continued to go slightly down - not up.  As of yesterday, gold prices for gems were somewhere around 33.2 copper per gem.  (The "chart" shown when you go to the gems->gold page is still completely useless as well.)  As far as I can tell, this price hasn't fluctuated too much and it has generally dropped a few copper since launch.

Since we really don't have a complete picture and since there is an invisible hand actively guiding the market we can only speculate.  However, this is certainly the opposite of my own guesses earlier.  I'm wondering now if the majority of people who were going to buy gems have bought them and spent them - and now the market for gems for gold is drying up a little.  The constant lack of a viable trading post has certainly played into the situation in an unexpected way as well; gold is worth less since you can't do as much with it.  And finally, the occasional inability to purchase gems has likely made a small difference, although this is much less common than the trading post being down.

I still suspect that gems will eventually be worth more since gold will eventually be worth less (since there will be more of it), but it may be that until there is anything besides character slots and bank tabs that really offer something to players, there may not be much in the way of gem purchasing going on.  It seems like people are either paying cash for gems, or they are not spending gems.  Considering that it would still take nearly 3 gold to buy one extra character slot - and not that many people have 3 gold just lying around yet - I can understand why there isn't much point in buying gems yet.

Or:  perhaps the gold sinks in the game are extremely well-balanced after all, and gold will continue to remain valuable for longer than we all thought?  I know that even now I find a 20 copper teleport to be expensive (all I can see is "another piece of jute" when I see 20 copper...).

Interesting point. When the TP starting failing, I started buying gems (bought them too early since at one point it was at 380 gems for 1g) thinking that in a few weeks gems would be worth more than gold. But I'm actually starting to see the last point you made in your post (at level 70+, hits 1s+ for teleports, even to close by ports Q_Q). Well to me, the only real useful items in the gem store (or the ones that I buy) are the magic find and karma boosters lolz.

Funny thing is, the gem store doesn't have anything like amazing (the way item mall/cash shops SHOULD be run in an MMO) so, it actually might make gems not worth that much. Lately, the gems have been up and down from about 280gems to about 380gems per 1 gold and I think it'll stay around there after the TP issues are entirely fixed.

The way I see it is that there is no way to BUY gear unless you have GOLD on hand; which is why I think gold will eventually be worth at least the same amount as gems, or more in the future.

Edited by barcode120x, 04 September 2012 - 02:47 PM.


#59 Lootifer

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Posted 04 September 2012 - 11:57 PM

View PostNebojsha, on 03 August 2012 - 07:22 PM, said:

Why should this be stopped and 30% is waaay too much...
No way, gold sinks are very very good for MMO economy's.

#60 Major_Heartfire

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Posted 05 September 2012 - 01:14 AM

The 30% is to prevent people from using the Gem Exchange as a stock market, which would drive up the price a lot.




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