Economia: General Economic Advice 11/02/09

Beanette - Lost City

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The below said advice is simply advice, it is not a prediction that is invariably correct nor can it be said to guarantee results, they are instead a few simple suggestions or tips that can be taken or ignored at the discretion of the player. I will however try to explain my logic, enjoy.

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b:bye Advice:

1. Stock up on gold until 12/01/09

2. Stop buying all the high end items and binding them.

3. Spend more time amassing gold rather than spending it on current money sinks.

4. Stop using world chats

5. Budget yourself if you have to spend real cash on this game until 12/01/09


b:victory Reasoning:

1. Your going to want to stock pile the gold for the Christmas season no matter how tempting it may be to spend it. If you want to spend it on something, you will be "wasting" potential profit off selling the gold around Christmas time for more. Not only this, but it is around Christmas time that you can recieve better items with the gold that you would be spending right now.

2. Its obvious the new tideborn expansion pack is going to offer new phat loot.

3. The new packs are tempting to throw your money into... 9 mil in will get you a 3.2 / 6.2 mount (Approximately) HOWEVER, You don't know when that bubble will burst and not to mention that fact that you may come out with nothing. Your going to want this money for the holiday season

4. The prices are ridiculous right now... Plus, they are a good way for you to start spending a lot of gold on something that need not be said.

5. If you do need to spend money on charms/dolls to survive, make sure to budget yourself accordingly to have some money for the upcoming holiday season. If you have to choose between destroying your charm on a rebirth versus just going out to do an HH run for money, go for the HH run instead and save your charm. If you have to go PK ... well try to abstain. Be the better and more economically savvy man and walk away. You need those dolls.

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In Summation----

This is just advice that I am offering up for you. It may turn out wrong, but it may turn out right. I offer up my logic and if you disagree or concur feel free to add.

-Yours,
Dr. Bean

P.S. I want to help b:victory

Caldaster - Lost City

I got a better Idea ..... STOP PLAYING AND GTFO.

Its a game for christ sake.

Beanette - Lost City

Caldaster - Lost City wrote: »

I got a better Idea ..... STOP PLAYING AND GTFO.

Its a game for christ sake.

I don't know how this has any relevant bearing on what I just said b:surrender

I am trying to offer advice, not get people to quit... ya... you might be doing alright, but I know a lot of people that could improve their current situation if they took this advice.

-Yours,
Dr. Bean

P.S. I respect your opinion but I think it could use moderation.

HighlevelEA - Lost City

Better idea.


Get as many coins as you can, Sell everything you have.
Mail them to me
???
PROFIT!!!

Beanette - Lost City

HighlevelEA - Lost City wrote: »

Better idea.


Get as many coins as you can, Sell everything you have.
Mail them to me
???
PROFIT!!!

Hmmm ... I smell two tier ponzi scheme...

Bernie Madoff: Get as much money as you can, sell off all your investment, let me do it for you... I run off with your money!

Hmm ... can't seem to recall who else did it...

-Yours,
Dr. Bean

Ottogi - Lost City

Good ideas!


1. Everyone stock up on gold now so demand stays high and prices don't drop.

3. Don't spend money on coin sinks so coin supply stays high therefore making gold prices stay high.

5. Don't spend real cash so gold supply stays low increasing gold prices.

Maybe I'm selfish... but people that pay attention to the economy WANT people to waste money on coin sinks, and want people to inject gold right now and don't want ANYONE buying gold while we're trying to buy it in this lull.

Beanette - Lost City

Ottogi - Lost City wrote: »

Good ideas!


1. Everyone stock up on gold now so demand stays high and prices don't drop.

3. Don't spend money on coin sinks so coin supply stays high therefore making gold prices stay high.

5. Don't spend real cash so gold supply stays low increasing gold prices.

Maybe I'm selfish... but people that pay attention to the economy WANT people to waste money on coin sinks, and want people to inject gold right now and don't want ANYONE buying gold while we're trying to buy it in this lull.

I agree that if everyone does this, then gold will stay at high prices, and that if everyone doesn't sink their coins then gold stays high, and if everyone stops spending cash gold supply stays low and the gold is high... but that's just it... EVERYONE. You know atleast one person that will consistently spend gold on this game and they can AFFORD to do it. This advice is for those people who do not wish to always spend gold/ don't spend gold on this game.

To be fair though if everyone DID do as I suggest, it would be terrible for all the people who do not spend gold on this game, HOWEVER as an individual you would earn more if you waited until later rather than spend it now. Plus, these "people who pay attention to the economy" are obviously doing it for personal gain, my advice is consistent with THEIR personal gain, not net gain for the game.

-Yours,
Dr. Bean

Oneshotu - Lost City

PW economy remind me of the houseing market o.o( in u.s.)

Anfisa - Lost City

Economics can be so much fun, especially with the gold prices.

The price of gold used to be stable at around 100-110k which seems reasonable, but in the past few months it has inflated to about 500-550k or so (half the the max amount gold can be sold/bought for).

If you are concerned about the high gold prices, then the best solution is to convince the vast majority of gold buyers that they simply need to stop buying gold from players for a while and prices should drop. I think that buyers are convinced that they have to increase their asking price when the seller's raise theirs in order to have any hope of getting gold.

I personally have sold gold in oder to make a quick few mil. I also noticed that cs stuff sold in cat shops are usually less than their worth in gold times 500k. So I've been able to sell gold, then buy any cs stuff I need from other people and still make a profit.

And I do plan to save up for the Christmas season, it's gonna be crazy.

Beanette - Lost City

Anfisa - Lost City wrote: »

Economics can be so much fun, especially with the gold prices.

The price of gold used to be stable at around 100-110k which seems reasonable, but in the past few months it has inflated to about 500-550k or so (half the the max amount gold can be sold/bought for).

If you are concerned about the high gold prices, then the best solution is to convince the vast majority of gold buyers that they simply need to stop buying gold from players for a while and prices should drop. I think that buyers are convinced that they have to increase their asking price when the seller's raise theirs in order to have any hope of getting gold.

I personally have sold gold in oder to make a quick few mil. I also noticed that cs stuff sold in cat shops are usually less than their worth in gold times 500k. So I've been able to sell gold, then buy any cs stuff I need from other people and still make a profit.

And I do plan to save up for the Christmas season, it's gonna be crazy.

I hope this guide has helped you, to address your concern about convincing the vast majority of people to ask for lower prices on gold... its a good idea actually. However, you have to realize that the vast majority of people will stick with AH prices. So until the buyers make a move to lower gold prices because it is not selling, than the gold prices are set. So, I will not give advice such as trying to convince a random variable such as pricing that is determined at the discretion of the seller, I am simply asking you to abstain your own purchases until the patch.

-Yours,
Dr. Bean