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- mus1k
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Member for 15 years, 1 month, and 7 days
Last active Fri, Oct, 7 2011 00:35:47
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Aug 2, 2011mus1k posted a message on The Auction House ExplainedPosted in: NewsQuote from Dolaiim
No it won't. You're assuming everyone behaves rationally, like counting machines. You're assuming everyone will exchange currencies immediately like some HFT software. Human beings are not pure theory executors, and the system in practice will be many orders of magnitude more complex than you and Phrozen are making it out to be.
Here's an important point: The models you're using are in reference to two real-world currencies. But that's not what we're discussing. We're talking about one fake currency and one actual currency. The models don't necessarily hold, and the emotion and moral dissonance that is obviously at work here destroys many of your notions.
While I honestly appreciate the exercise in econ 101, the world does not operate in a vacuum, nor does it adhere to steadfast rules like this, because there are no steadfast rules outside a vacuum. We can't say that a video game community is going to behave like wall street currency traders. The fact is we just don't know any of this for sure.
My bottom line is this. Why do I have to exchange between two currencies in the FIRST PLACE? It's an added layer of toil that keeps me from killing monsters and getting loot.
There are many answers to this, but I haven't heard any that are compelling.
If people are not behaving rationally (working off the economy laws) they lose money. When they lose money, I get money. Yay for me.
Fake currency? Played WoW ever? Fake currency and yet the most robust, active and WORKING economy I've ever seen in gaming. Hell, some real-life economies are not as stable as WoW economy based on a FAKE currency.
PS. All currencies (yes, I am tlaking about dollars, euros and all those other pieces of paper) except for pure gold are fake, just saying...
Quote from santaclaws490_4577737
There is a market price and to drive it up, reducing supply will work. It may not be so drastic as the example listed but regardless it is easily doable with a bit of money. If I am buying out the market at 10$ and I have to buy your one 900$ sword to keep the market price up it does not effect the avg. price so much if my volume is high, which I am guessing it would be. Even so if I wanted to retain market prices I would still be making a profit on your 900$ dollar sword. This increases YOUR gain for the sword, but it creates a very very messy economy.
Of course you wouldn't want to hold a manipulation for extended times but with MANY companies doing this, it can turn in to a very 'not so fun' environment. Market manipulation is abundant in the real world, in example it only takes an average 3 million USD to manipulate Sri Lankan markets, it is not just a problem with oil.
If you buy a sword for 1000$ it is worth 1000$.
If you don't think a sword is worth 1000$ - DO NOT BUY IT.
I mean, it's simple, it's how marketplace operates and still people cannot understand even basics of it. How do you live your life without knowing basics of supply/demand and free market? -
Aug 2, 2011mus1k posted a message on The Auction House ExplainedI love this so much. This is just a godly present for all those people like me, who played WoW not for pvp or pve but for the auction-pvp AND who love Diablo-games.Posted in: News
So far in this thread not one real concern was raised, because mostly the people who "hate" this new feature are the ones economically uneducated and plain dim-witted.
The only REAL issue I find with this announcement so far is it's effect on the Hardcore players community. I loved the Hardcore in D2 and for the last 3 years of my Diablo2-carrier I played exclusively HC, but I must admit, that I don't think I could play HC with so much money there to be made in SC. Probably most of the dedicated HC players feel this way. It would surely feel a waste to play HC, when you can play SC AND earn money doing it. I hope they change their mind about RMAH on HC.
PS. I am so quitting my job this winter.
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If people are not behaving rationally (working off the economy laws) they lose money. When they lose money, I get money. Yay for me.
Fake currency? Played WoW ever? Fake currency and yet the most robust, active and WORKING economy I've ever seen in gaming. Hell, some real-life economies are not as stable as WoW economy based on a FAKE currency.
PS. All currencies (yes, I am tlaking about dollars, euros and all those other pieces of paper) except for pure gold are fake, just saying...
If you buy a sword for 1000$ it is worth 1000$.
If you don't think a sword is worth 1000$ - DO NOT BUY IT.
I mean, it's simple, it's how marketplace operates and still people cannot understand even basics of it. How do you live your life without knowing basics of supply/demand and free market?
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So far in this thread not one real concern was raised, because mostly the people who "hate" this new feature are the ones economically uneducated and plain dim-witted.
The only REAL issue I find with this announcement so far is it's effect on the Hardcore players community. I loved the Hardcore in D2 and for the last 3 years of my Diablo2-carrier I played exclusively HC, but I must admit, that I don't think I could play HC with so much money there to be made in SC. Probably most of the dedicated HC players feel this way. It would surely feel a waste to play HC, when you can play SC AND earn money doing it. I hope they change their mind about RMAH on HC.
PS. I am so quitting my job this winter.