Petition to cap Gold Prices

Vansloten - Lost City

Is there any way out there that we can petition the developers to create a cap on gold prices? 1.8m for gold is just too outrageous. We the players have set the prices but we have no notion to let them drop cause well face it, the players who set those prices are greedy.

I'm not against cash shopping as I do it stil my self. But I also enjoy farming. I would like to continue farming as would many people but with the prices in the AH it's just too difficult.

Wasn't there a cap when the game first came out? Nothing more than 1m a gold? Why can't they implement that back in? It's not about money cause players can still charge gold. If anything, they would have to charge more gold to get the amount they're getting now so it's not really that bad of a business decision for PWE.

I remember when gold was 100k. I doubt we'll ever get back to that, but wouldn't something close be nice? I'm looking again to see under 1m AT THE LEAST.

So, how do we get a petition together for the Developers to take into consideration?

Olbaze - Sanctuary

A Gold cap would never work. In fact, it would just make things worse.

Being forced to sell at a lower price, people wouldn't do that. They would, instead, use their zen-bought Gold to get boutique items and sell those at the original prices.

Nothing would change except merchants would be screwed and cash shoppers would be even more screwed.

And no, 1.8m isn't outrageous, considering that people still buy it. Heck, I buy gold at 1.8m and sell packs at what would amount to 1.85m. And they still sell.

Also, I've been selling packs on and off for a year now. The prices have almost always been 350-550k. And the packs-per-gold has gone up from 2.78 to 4.55.

Quilue - Sanctuary

Petition for less sales instead...

Decus - Dreamweaver

Vansloten - Lost City wrote: »

We the players have set the prices but we have no notion to let them drop cause well face it, the players who set those prices are greedy.

Wrong. It is not because they are greedy. It is because that is the value of the commodity. Gold is inflated by the sales in the boutique. Case in point, if you track boutique item worth in gold, you'll see that their value is fairly stable over the course of months. What is greedy is to force people to sell something for less than it's worth.

Kristina_t - Heavens Tear

We had a 1mill gold cap. Emergency maintenance on December 2nd of last year was done to remove it.

TolanSky - Heavens Tear

Kristina_t - Heavens Tear wrote: »

We had a 1mill gold cap. Emergency maintenance on December 2nd of last year was done to remove it.

Why was it removed in the first place anyways?

Jin_Wang - Lost City

Vansloten - Lost City wrote: »

Is there any way out there that we can petition the developers to create a cap on gold prices? 1.8m for gold is just too outrageous. We the players have set the prices but we have no notion to let them drop cause well face it, the players who set those prices are greedy.

I'm not against cash shopping as I do it stil my self. But I also enjoy farming. I would like to continue farming as would many people but with the prices in the AH it's just too difficult.

Wasn't there a cap when the game first came out? Nothing more than 1m a gold? Why can't they implement that back in? It's not about money cause players can still charge gold. If anything, they would have to charge more gold to get the amount they're getting now so it's not really that bad of a business decision for PWE.

I remember when gold was 100k. I doubt we'll ever get back to that, but wouldn't something close be nice? I'm looking again to see under 1m AT THE LEAST.

So, how do we get a petition together for the Developers to take into consideration?

It will never happen because of gold trading. It goes on bad sides for business or the player base, getting real gold for free was a bad idea from the start...

100k per gold was not good for business, thus they had to raise it. Its like reselling for nothing, just stress... If you can't make money by buying products and reselling for the same price, you would just waste time. Auction house is the cause for inflation.

Sarrafeline - Sanctuary

Let's look at the process.

Person A puts in $10, and wants coins.

Person A look at the AH, under Gold Trading, and sees that Gold is selling for 1.x million coins, with prices from 1.63 mil to 1.8 mil for buy and 1.85 mil to 1.95 mil for sell.

Person A then puts their gold into the AH, and sells it for coins, gets X amount of coins, and goes on their marry way, while person B (presumably it was one person, it may be up to 9 people in this case) get their gold to buy things directly from Boutique.

That is how AH gold trading works RIGHT NOW.

Put a cap on it.

Person A puts in $10, and wants coins.

Person A looks at the AH, under Gold Trading, and sees that there is now a 1m cap on gold. INSTEAD of putting their gold into the AH for coins, they buy items from the boutique, which they can sell to other players in game for an approximate price of 1.6-1.9 mil coins per gold that the item cost.

Person A ends up spending several hours getting their coins. They also end up with X amount of coins, just like they did without a cap on Gold trading. It also took several hours, or days, instead of either being nearly instant, or taking an hour or less.

Person B, who wants to buy gold, is looking at AH, and is staring at a ****ing blank window. There is NO gold to be bought, because nobody is selling.

Is this all too hard for you people who cry for a gold cap to understand? Seriously...

Cliffs notes: Gold cap = Gold Trading Empty of gold

Vansloten - Lost City

Sarrafeline - Sanctuary wrote: »

Let's look at the process.

Person A puts in $10, and wants coins.

Person A look at the AH, under Gold Trading, and sees that Gold is selling for 1.x million coins, with prices from 1.63 mil to 1.8 mil for buy and 1.85 mil to 1.95 mil for sell.

Person A then puts their gold into the AH, and sells it for coins, gets X amount of coins, and goes on their marry way, while person B (presumably it was one person, it may be up to 9 people in this case) get their gold to buy things directly from Boutique.

That is how AH gold trading works RIGHT NOW.

Put a cap on it.

Person A puts in $10, and wants coins.

Person A looks at the AH, under Gold Trading, and sees that there is now a 1m cap on gold. INSTEAD of putting their gold into the AH for coins, they buy items from the boutique, which they can sell to other players in game for an approximate price of 1.6-1.9 mil coins per gold that the item cost.

Person A ends up spending several hours getting their coins. They also end up with X amount of coins, just like they did without a cap on Gold trading. It also took several hours, or days, instead of either being nearly instant, or taking an hour or less.

Person B, who wants to buy gold, is looking at AH, and is staring at a ****ing blank window. There is NO gold to be bought, because nobody is selling.

Is this all too hard for you people who cry for a gold cap to understand? Seriously...

Cliffs notes: Gold cap = Gold Trading Empty of gold

Exactly my point...people being greedy. Just sell the Boutique items at what the gold prices are currently at UNDER that cap. Instead of some outrageous price.

And yes gold prices are outrageous. Just because people are buying them doesn't mean they aren't. They're buying them because they dont' have a choice if they're trying to get the items they need.

Burnout - Harshlands

Vansloten - Lost City wrote: »

Exactly my point...people being greedy. Just sell the Boutique items at what the gold prices are currently at UNDER that cap. Instead of some outrageous price.

And yes gold prices are outrageous. Just because people are buying them doesn't mean they aren't. They're buying them because they dont' have a choice if they're trying to get the items they need.

Sure, lets start with you. Put up 100 gold for sale at 1 million, and I'll do the same.

Sarrafeline - Sanctuary

Vansloten - Lost City wrote: »

Exactly my point...people being greedy. Just sell the Boutique items at what the gold prices are currently at UNDER that cap. Instead of some outrageous price.

And yes gold prices are outrageous. Just because people are buying them doesn't mean they aren't. They're buying them because they dont' have a choice if they're trying to get the items they need.

Okay, so if gold gets capped, people are gonna sell at the prices that items are worth anyway.

If Wanmei put a cap on that, cash shopping and charging would stop.

Seriously, who is being greedy here?

"I want cheap gold!" is all I hear. If you want cheap gold, then charm prices can go back to being 600-800k, mount prices should drop to something reasonable, and so on and so forth.

Once gold drops below around 1m per gold, it's not worth it for me to drop any into AH. I spend it on other things, like computer upgrades, MineCraft, excessive amounts of diabetes inducing Mountain Dew, stuff like that. I can be pretty confident that most other people who charge and sell the gold feel the same way.

You might call it greedy, but I didn't get my gold for free, and I'm not going to give it away free either.

Tsukyini - Raging Tide

Sarrafeline - Sanctuary wrote: »

Okay, so if gold gets capped, people are gonna sell at the prices that items are worth anyway.

If Wanmei put a cap on that, cash shopping and charging would stop.

Seriously, who is being greedy here?

"I want cheap gold!" is all I hear. If you want cheap gold, then charm prices can go back to being 600-800k, mount prices should drop to something reasonable, and so on and so forth.

Once gold drops below around 1m per gold, it's not worth it for me to drop any into AH. I spend it on other things, like computer upgrades, MineCraft, excessive amounts of diabetes inducing Mountain Dew, stuff like that. I can be pretty confident that most other people who charge and sell the gold feel the same way.

You might call it greedy, but I didn't get my gold for free, and I'm not going to give it away free either.

^+1

Both sides are "greedy". It's all about perspective. IMO, it's more "greedy" to expect people to throw away real life money just so free players can continue to purchase stuff cheaply.

CRYSTY_III - Sanctuary

BOI - Battle of Immortals (PWE game)

100 ZEN was 60k coins.In few months (3-4),bcuz of resellers too , the zen price reached 600k.All the players on Atlantis server started to worry about that fast raising price .So we all spamed world chat with chats like " DON'T BUY ZEN " or don't buy yet till the prices will not drop down b:pleased .On that day and even next ones the zen price droped down to 400k !! bcuz nobody was buying b:laugh
Unfortunately ,in time ,the zen price reached the cap number as 999,999 allowed by game.Last time i checked was 700-800k but BOI game is so empty now..

If PWI has the cap gold price from 7 or 8 number then we will see in time reaching this lvl , 1 gold might become 10 milions.

Buyers make the prices so high by supporting this , buying the gold at higher prices.
Stop buying gold all of you,even for 1 day ,and you'll see the results .Well,the price will go up again in a very short time , but teach them a lesson the gold RESELLERS.

With so many ppl selling cheap(cheaper than the cash shop) mounts,fashion...etc no need to buy gold unless you are a high lvl and you really need the medals or rep badges from shop for your rank 9 gear.

In 2008-2009 there wasnt RANK gear 9 and we were doing fine (Stil alot ppl dont use even rank 3 or 4 gear or 5 or 6 or whatever)
Edit: why ppl are gambling for a .00002% chance mount or a baby pet ? Just to show off lol (how they got into pwe 0.0002% chance traps )..Beleive me i dont care if i see you with a rare mount in archosaur city xD and you cry in faction that you spent +$1000 but thats your choice ..
Also PWE should apply a history of transactions and not allow players to sell again gold in 24 hours or 48 hours .


I don't want to become a offtopic poster but i suport this to set a cap price to gold b:victory

Aquilez - Sanctuary

gold price is going up but the sales are making boutique itens cheaper so is around the same thing.
when they introduced the dam packs, it was 1 gold each pack, gold price went up , then they made it 0,5 gold, gold price doubled, then they lowered other boutique prices like charms, long as PWE keep doing this kind of things the price will keep going up, and any player who know something about how economy works know it.
want prices to go down?
A: make people stop gambling with packs
or
B: make PWE do less sales

good luck with any of those b:bye

_Skai_ - Raging Tide

If gold was capped at 1m each right now, think about it.

100 packs = 22 gold = 22.44m with 2% tax.

Selling packs at ~230-250k each yields around 100k or less loss per gamble. That's such a low punishment for losing while gambling.

To emphasize, you would only need 2 ToBL in 100 packs to break even.

If gold was capped at 1m, and 100 packs were 22 gold, I'd just invest all of my coin into opening packs and having a high chance of winning.

Kweer - Sanctuary

A solution that may work is if PWE ceases to allow Players to sell gold. Modify the system so that the game generates gold at a cap (say 1.5mil to be fair), and refreshes the amount being sold if it is ran out.

This has been done on private servers, and actually encourages individuals to either play the game and farm in order to sell the items to gather enough coin to buy gold, or just buy the ZEN to buy the items in the boutique directly through PWE.

If a F2P gamer were to actually play the game and farm, in order to buy gold from the NPC or Auction House (whichever were to be created), they would have to consistently consume resources, which requires them to purchase from players selling items. The players selling said items would of course initially inflate the prices, but it would settle down to equal the NPC gold cap of 1.5mil per gold.

See what I mean? Gold does not go up, there is a steady stream of gold for players, it reduces the amount of coin flow in the game (major coin sink), which drops prices, and availability of certain items.

Olbaze - Sanctuary

Kweer - Sanctuary wrote: »

A solution that may work is if PWE ceases to allow Players to sell gold. Modify the system so that the game generates gold at a cap (say 1.5mil to be fair), and refreshes the amount being sold if it is ran out.

This has been done on private servers, and actually encourages individuals to either play the game and farm in order to sell the items to gather enough coin to buy gold, or just buy the ZEN to buy the items in the boutique directly through PWE.

If a F2P gamer were to actually play the game and farm, in order to buy gold from the NPC or Auction House (whichever were to be created), they would have to consistently consume resources, which requires them to purchase from players selling items. The players selling said items would of course initially inflate the prices, but it would settle down to equal the NPC gold cap of 1.5mil per gold.

See what I mean? Gold does not go up, there is a steady stream of gold for players, it reduces the amount of coin flow in the game (major coin sink), which drops prices, and availability of certain items.

An NPC selling gold wouldn't work.

Simple reasons, really. For one, all of the biggest gold buyers right now have several hundreds of millions, if not a few billions in coin.

What would happen is that PWE would lose all their sales at point where the perceived price is at over 1,500,000 coins. For example, the current packs would only be worth 330,000, 1* Dragon Orbs would be at 67,500 and Ocean Orbs would be 30,000,000. In reality, the current packs sell for about 400,000 easily, 1* Orbs are bought at 70,000-75,000 and Ocean Orbs at ~32,000,000. On all of these, which are major sellers, PWE would be losing money.

Oh and don't even bring up what would happen if they ever brought back the 11* and 12* orbs: their prices were 33 Gold and 50 Gold each, which was much less than what they were priced at previously. The amount of money PWE would lose on that would be ridiculous.

SliceOfTuna - Heavens Tear

Quilue - Sanctuary wrote: »

Petition for less sales instead...

↑ This

If you cap gold prices. People will sell outside of AH for higher.

Kweer - Sanctuary

Olbaze - Sanctuary wrote: »

An NPC selling gold wouldn't work.

Simple reasons, really. For one, all of the biggest gold buyers right now have several hundreds of millions, if not a few billions in coin.

What would happen is that PWE would lose all their sales at point where the perceived price is at over 1,500,000 coins. For example, the current packs would only be worth 330,000, 1* Dragon Orbs would be at 67,500 and Ocean Orbs would be 30,000,000. In reality, the current packs sell for about 400,000 easily, 1* Orbs are bought at 70,000-75,000 and Ocean Orbs at ~32,000,000. On all of these, which are major sellers, PWE would be losing money.

Oh and don't even bring up what would happen if they ever brought back the 11* and 12* orbs: their prices were 33 Gold and 50 Gold each, which was much less than what they were priced at previously. The amount of money PWE would lose on that would be ridiculous.

If that were the case, what is stopping them from buying gold now? Its not as if the cap on NPC gold were lower than the average gold price over the past 6 months, it would be the same. So they would not be taking advantage of it.

You are simply removing the power of the gold market from the player, and regulating it as it should have been in the first place.

And if the mega-rich did splurge and gobble up the overpriced NPC gold (when they could have done it before when it was player-controlled), that coin is gone, sunk directly back into the game.

See what I mean? Its the perfect coin sink that everyone has been asking for.

I highly doubt the community of PWE on any server would allow for players selling boutique items to inflate the prices. The market is so free and competitive, that eventually the prices would be slashed down.

Especially when no one can just sell gold anymore for quick coin. Get what I mean? Less coin coming in from selling gold, less coin available, stuff doesn't get sold, therefore, merchants cannot inflate the price of merchandise.

So you either have to farm your gear, farm mats to sell, then buy gold through NPC, or just buy gold from PWE. The newer generations of PWI players are so freaking lazy and spoiled, that they would much rather just buy ZEN than buy NPC gold in-game. Which would boost PWE's capital.

Its a much easier system to put into place, without wishing for a miracle like asking for less sales *lol*

Decus - Dreamweaver

People that ask for a cap on gold have little to no understanding of simple economics.

You simply cannot force someone to sell something for less than its value. That is greedy.

It has already been explained ad nauseum. Sales control gold prices. Period. A cap does NOTHING for gold prices if sales are allowed to remain the same.

Kweer - Sanctuary

Decus - Dreamweaver wrote: »

People that ask for a cap on gold have little to no understanding of simple economics.

You simply cannot force someone to sell something for less than its value. That is greedy.

It has already been explained ad nauseum. Sales control gold prices. Period. A cap does NOTHING for gold prices if sales are allowed to remain the same.

So you are saying that the player-controlled gold prices are because the company does what it always did, even before gold prices rose? Had sales?

Its always easy to point the finger at the bigger man. Its harder to come up with a creative solution.

TBH, everyone says 'have less sales' QQ. I decided to come up with a solution that with a bit of tweaking, has the best chance of changing things.

Think outside of the box for a change people. Stop being **** lazy.

Icehart - Lost City

Waahh Waahh I want stuff cheapb:cry

_Ghoul_ - Lost City

lol fish (sin) are the biggest farmer in game with there aps sht so please dont tell us how hard it is for you to farm money for gold.

as the dev wont make a nerf on aps so shouldent anything be affective on the gold prices.

gold let a vit barb like myself survive in this aps era where anything without aps is sht.

Sarrafeline - Sanctuary

_Skai_ - Raging Tide wrote: »

If gold was capped at 1m each right now, think about it.

100 packs = 22 gold = 22.44m with 2% tax.

Selling packs at ~230-250k each yields around 100k or less loss per gamble. That's such a low punishment for losing while gambling.

To emphasize, you would only need 2 ToBL in 100 packs to break even.

If gold was capped at 1m, and 100 packs were 22 gold, I'd just invest all of my coin into opening packs and having a high chance of winning.

I once opened 600 packs and got 9,000 tokens of luck. Not a single ToBL.

So, basically, that was the last time I ever opened packs.

However, I've bought a LUAD for a fraction of the price they were selling for in 2009. b:avoid One guy on Sanct had 3 drop for him in one day... Was QQing about not being able to get rid of them (Scroll of Tomes that is).

Decus - Dreamweaver

Kweer - Sanctuary wrote: »

So you are saying that the player-controlled gold prices are because the company does what it always did, even before gold prices rose? Had sales?

Its always easy to point the finger at the bigger man. Its harder to come up with a creative solution.

TBH, everyone says 'have less sales' QQ. I decided to come up with a solution that with a bit of tweaking, has the best chance of changing things.

Think outside of the box for a change people. Stop being **** lazy.

No, the company did not ALWAYS sell power, not to the extent that we see now within the past year and a half. To claim that sales were "always" so would be incredibly ignorant. Players control gold prices but the prices reflect the value of the commodity. That is how any basic free market works.

The company encourages players to buy if they sell items that are VASTLY more popular than charms, mounts, or fash ever were. Indeed, in the past, prices rose steadily as a result of increased sales. However, prices truly ballooned as a result of JJ box sales, countless chance pack sales (with ever increasing discounts being the key), and rep sales.

That is what devalues in-game coin and ups the price of gold. This, combined with other poor decisions, is why gold is so high. I am not pointing the finger, I am explaining why gold is the way it is and why a cap is a stupid idea.

mogwai

Gold will be capped at 5 million so that 3rd party sites can sell 100mils at $22.50 b:chuckle

Asterelle - Sanctuary_1381265973

Decus - Dreamweaver wrote: »

Players control gold prices but the prices reflect the value of the commodity.

This is not really true. The majority of the current gold price is determined by the company and not any player market.

Consider the anni pack: http://www.pwdatabase.com/pwi/quest/20191
Perfect -Token of Luck - 15 (97%)
Perfect -Token of Best Luck (1.715%)

Those tokens of luck can be sold directly to an NPC for 10k each in coins and the Best Luck for 5m each.

Just these two alone contribute:
15*10k*.97 + 5,000k*.01715 = 231k
231k to the value of the pack in total absence of any player market

The anniversary pack when bought in bulk costs 22 silver. Even factoring in the 2% AH fee.

231K / .22 / 1.02 = 1029 k

Just looking at the tokens from the Anniversary Pack and totally ignoring any player market and totally ignoring every other item in the Anniversary Pack gold would be pegged at 1.029M.

The tokens are contributing the majority influence on the price of gold, not the players. The player market is a minority influence.

Mitachi - Dreamweaver

Olbaze - Sanctuary wrote: »

A Gold cap would never work. In fact, it would just make things worse.

Being forced to sell at a lower price, people wouldn't do that. They would, instead, use their zen-bought Gold to get boutique items and sell those at the original prices.

Nothing would change except merchants would be screwed and cash shoppers would be even more screwed.

And no, 1.8m isn't outrageous, considering that people still buy it. Heck, I buy gold at 1.8m and sell packs at what would amount to 1.85m. And they still sell.

Also, I've been selling packs on and off for a year now. The prices have almost always been 350-550k. And the packs-per-gold has gone up from 2.78 to 4.55.

Agreed its still the same profit margin it hasn't changed.

dfdfdfdfdfds

Reason they can't and don't cap gold price is gold selling sites. Trust me you don't want them to cap the gold and neither does PWE.

Massad - Harshlands

Vansloten - Lost City wrote: »

Is there any way out there that we can petition the developers to create a cap on gold prices? 1.8m for gold is just too outrageous. We the players have set the prices but we have no notion to let them drop cause well face it, the players who set those prices are greedy.

I'm not against cash shopping as I do it stil my self. But I also enjoy farming. I would like to continue farming as would many people but with the prices in the AH it's just too difficult.

Wasn't there a cap when the game first came out? Nothing more than 1m a gold? Why can't they implement that back in? It's not about money cause players can still charge gold. If anything, they would have to charge more gold to get the amount they're getting now so it's not really that bad of a business decision for PWE.

I remember when gold was 100k. I doubt we'll ever get back to that, but wouldn't something close be nice? I'm looking again to see under 1m AT THE LEAST.

So, how do we get a petition together for the Developers to take into consideration?

It is capped we just haven't got there yet... Maximum selling cap is 4kk for 1 gold last time I checked

Sarrafeline - Sanctuary

Massad - Harshlands wrote: »

It is capped we just haven't got there yet... Maximum selling cap is 4kk for 1 gold last time I checked

What does 4kk mean? Isn't it easier to just write 4m?

And no, the cap is not at 4m. I've seen listings at 9m and above.