Gold Price....

Arliana - Dreamweaver
Arliana - Dreamweaver Posts: 410 Arc User
edited June 2009 in Tideswell (East)
Gold has reached 900k.... wth.
Post edited by Arliana - Dreamweaver on

Comments

  • joemina
    joemina Posts: 0 Arc User
    edited June 2009
    I second that Im tryin to buy gold at 150 freakin thousand and ppl keep going higher and all the 160k sold out and now its 900 and 200k WTFFF b:angryb:angryb:angryb:angryb
  • aryannamage
    aryannamage Posts: 0 Arc User
    edited June 2009
    Any idea why?
    [SIGPIC][/SIGPIC]
  • Zoe - Heavens Tear
    Zoe - Heavens Tear Posts: 3,814 Arc User
    edited June 2009
    The answer why should be plain obvious. Player greed.
    Main characters
    Celestial Sage Venomancer Zoe - 100
    Sage Barbarian Malego - 91
  • Ku - Dreamweaver
    Ku - Dreamweaver Posts: 2 Arc User
    edited June 2009
    aryannamage wrote: »
    Any idea why?

    Common sense theory:
    The cheapest gold always sells first. Normally this is replenished with more similarly priced gold. This allows for the small fluctuations in price that we see on a daily basis.

    When there is a reduction in the ammount of gold offered the cheapest gold will go first but will not be replenished. Therefore only the expensive gold is left for sale. People who aren't in a hurry to sell their gold will also price it on a similar level as the existing gold. This results in a more dramatic price increase.

    Irrational sellers (AKA noobs) with no understanding of the market will jump onto the bandwagon in hopes of making tons of $$. Delusional as they are, they don't realise that their profit will only amount to ~10k per gold when the tarrif is factored in, resulting in a rather pathetic income due to the trivial ammount of gold that they have to sell in the first place. None the less they hoist the price over the edge of what is reasonable, causing an even bigger spike in the fluctuations.

    During such periods where the economy is ****ed, the rational consumer abstains from the conventional means of trade and seeks other, more financially sound endeavors. In laymans terms, they stop buying items from the cash shop for gold and seek to buy the same items from other players for coins. They stop bidding on gold completely, thus creating a surplus of gold that will innevitably force the price back down to common levels. Wether these fabled "rational consumers" actually exist is another issue.

    The Conspiracy theory:
    GMs artificially induced the current inflation in the Gold market to discourage Gold/coin exchanges and cause consumer frustration that would lead said consumers to say "Oh **** it, I'll just charge my credit card..."

    How's that for an idea?
  • Minlin - Dreamweaver
    Minlin - Dreamweaver Posts: 3 Arc User
    edited June 2009
    It's because the demand for gold exceeds the supply.

    The prices increased slightly when the Gold Charm pack sale started this week, but the huge price increase is because the Dragon Orbs are 50% off today. Everyone is trying to buy as much gold as possible to get those orbs.

    Very likely the gold price will fall down tomorrow, or in a few days, and return to normal after the Gold Charm pack sale ends in 1.5 weeks.
  • aryannamage
    aryannamage Posts: 0 Arc User
    edited June 2009
    I actually meant if there is a bug involved guys. Last time the prices went up so far there was a bug after all. Though someone just checked and told me it is only 1 person trying to sell for 900k.
    [SIGPIC][/SIGPIC]
  • Wolfgang - Dreamweaver
    Wolfgang - Dreamweaver Posts: 438 Arc User
    edited June 2009
    aryannamage wrote: »
    I actually meant if there is a bug involved guys. Last time the prices went up so far there was a bug after all. Though someone just checked and told me it is only 1 person trying to sell for 900k.

    Awww guys? Be nice to Aryanna....
    I would have checked for you had I been in game ^.^

    It must be 'cause of the dragon orb sale and some noob doesn't know any better...
    900k for one gold? LOL
  • aryannamage
    aryannamage Posts: 0 Arc User
    edited June 2009
    Wolfgang - Dreamweaver wrote: »
    Awww guys? Be nice to Aryanna....
    I would have checked for you had I been in game ^.^

    It must be 'cause of the dragon orb sale and some noob doesn't know any better...
    900k for one gold? LOL

    That is actually what the GM I spoke to thinks.
    [SIGPIC][/SIGPIC]

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