What the what! The Marketplace is crazy!

[Setsunasa]

I remember when 100k was a big deal on the Marketplace haha! The gold inflation sure did skyrocket...

Is there any way to fix it though? Seems like the more Dice Roll / Chance stuff the put out the more it bumps up gold prices D:

 

[Astra the Fae]

It has zero to do with Dice Roll and more to do with people being greedy and high balling everything.

When I sell an item I always do it from the lowest price given. I never raise the price and never discount (because i'm not smart enough to know how and I gets frustrating getting 50 pms asking for a discount.) If I do get a single item from the cash shop I will sell it at the hundred thousand. For example I bought the raptor and sold it for 500k or something.

Its nothing I can see gaia fixing it other than implementing another tax. But its something that every individual seller can have control over.  

[SoulRIZer]

Quite true what queenofsleepingforest said.

It also has to do with Gaia making gold more attainable for example Flynn Booty. Anyone with Gaia Cash can purchase these and get a handsome amount of gold. Hence, the currency value of Gaia Gold drops and the price increase.  

[GrayLove45]

There is actually a guild called Revolution:Gaia. Who talks about this problem regularly.  

[GillaGrrl]

Gaia releases a new gold generator almost every day. Gold has devalued as a result. Because of the money hungry GAIA itself we now have to deal with hyper inflation. The only way to save us now is to create giant gold sinks. Unfortunately it doesn't look like that is going to happen any time soon. They even had to raise the max limit of gold that a person is able to keep in their invo. It is not just money hungry sellers. It is Gaia itself that is causing this. Gold gen after gold gen means that people are often paying 6 million for an item that can give them up to a billion. It is insanity. Everything has gone up in price as a result across the board. I was a millionaire. Now I sit on a pile f chump change.

It influences how much I am able to donate within this very guild. It also means that I refuse to buy anything for myself and just sit on what I have until either the inflation gets fixed or I give away everything I have over the course of however long it takes while holding events here, in my fav place to be.

This is much like the Hyperinflation in Zimbabwe, Where the government just kept printing money until it had no value and a loaf of bread was 5 million dollars. INSANE.  

[Astra the Fae]

GillaGrrl

Gaia releases a new gold generator almost every day. Gold has devalued as a result. Because of the money hungry GAIA itself we now have to deal with hyper inflation. The only way to save us now is to create giant gold sinks. Unfortunately it doesn't look like that is going to happen any time soon. They even had to raise the max limit of gold that a person is able to keep in their invo. It is not just money hungry sellers. It is Gaia itself that is causing this. Gold gen after gold gen means that people are often paying 6 million for an item that can give them up to a billion. It is insanity. Everything has gone up in price as a result across the board. I was a millionaire. Now I sit on a pile f chump change.

It influences how much I am able to donate within this very guild. It also means that I refuse to buy anything for myself and just sit on what I have until either the inflation gets fixed or I give away everything I have over the course of however long it takes while holding events here, in my fav place to be.

This is much like the Hyperinflation in Zimbabwe, Where the government just kept printing money until it had no value and a loaf of bread was 5 million dollars. INSANE.

People were hitting the limit even before the gold giving Cis came out (I refuse to call them gold generators because that is something that is banned by the TOS on every single site/mmo that has an online currency)., it makes sense to raise the limit. And I don't think creating gold sinks is the way to go.

I honestly think that people are blaming Gaia is the easiest thing to do. Because finger pointing is always the better solution instead of either taking fault in one self or coming out with a more effective solution.

And again Gaia has stated in the past that it doesn't have any control over what people input. The people have that control and they will always raise the price. It's basically the old buy low, sell high routine taken to the extreme. Gaia can't do anything about it. Much like Perfect World International can't do anything about prices of gold selling by the millions.

You can blame it on an inanimate object or on Gaia all you want, but the fact remains that individual sellers who are high balling the item price are the ones who are truly at fault. Regardless of how many gold sinks Gaia puts out isn't going to be the solution but create a bigger problem. Hell even a higher tax would create problems.  

[Daypaw]

Astra Green

People were hitting the limit even before the gold giving Cis came out (I refuse to call them gold generators because that is something that is banned by the TOS on every single site/mmo that has an online currency)., it makes sense to raise the limit. And I don't think creating gold sinks is the way to go.

I honestly think that people are blaming Gaia is the easiest thing to do. Because finger pointing is always the better solution instead of either taking fault in one self or coming out with a more effective solution.

And again Gaia has stated in the past that it doesn't have any control over what people input. The people have that control and they will always raise the price. It's basically the old buy low, sell high routine taken to the extreme. Gaia can't do anything about it. Much like Perfect World International can't do anything about prices of gold selling by the millions.

You can blame it on an inanimate object or on Gaia all you want, but the fact remains that individual sellers who are high balling the item price are the ones who are truly at fault. Regardless of how many gold sinks Gaia puts out isn't going to be the solution but create a bigger problem. Hell even a higher tax would create problems.

The number of people hitting the limit before the gold generators started coming out were minimal, if anyone had hit it at all- as far as I am aware, finding the limit was a recent thing. Now there are thousands of people who have hit that limit.

Vendors are marking prices 'higher' because gold has been devalued - it is no longer considered expensive to be at 50mil. That is now a low- to mid-range item. This is only possible because so many people have billions of gold laying around to buy with, and this is now the norm because there is a complete excess of it in the system.

If half of the gold in circulation were removed, the prices in the marketplace would drop drastically because gold would have more value. As Gilla explained - it's like the people of Zimbabwe paying 5 million for a loaf of bread because money was printed, and printed, and printed. The same basic principle works on virtual economies - if you keep printing the money, it isn't going to be worth anything at all and you'l have to charge more of it to get the same valuation on an item.

It isn't that people are asking MORE for the items - it's that they NEED more to get the same value for their sales. 1mil a year ago is over 100mil now- if they asked for 1mil, they'd have a hard time recovering from that loss. And it WOULD be a loss- it would be like selling an item worth 1mil for 1k at this time last year. Because gold is so worthless at this point, prices go up but the actual value of the items does not change. The prices still reflect that value.

Gaia has made it all but impossible to survive in the current economy without the use of cash - BootyGrab and other games will certainly never be adjusted to compensate, because that would hurt Gaia's bottom line. The only possible non-cash option for anyone questing something not available in the gold shops these days is vending - which would be extremely difficult for any new users or those starting from scratch because, other than buying cash, they would have nothing to start with and no real way to rack up the millions that would be required.

People inputting high amounts is not the cause of the problem. The cause of the problem is gold not being worth anything - which is a problem directly caused by Gaia and their gold generators. Users have no control over the value of gold. They still sell the items at their value, which because of the abundance of gold, means that the buy price is a higher number- not more expensive.  

[Setsunasa]

Sorry, I didn't mean to start a huge debate! I do appreciate all the responses though! I read them all!
I was just surprised/frustrated and didn't know where else to express myself ><

 

[Astra the Fae]

Daypaw

Astra Green

People were hitting the limit even before the gold giving Cis came out (I refuse to call them gold generators because that is something that is banned by the TOS on every single site/mmo that has an online currency)., it makes sense to raise the limit. And I don't think creating gold sinks is the way to go.

I honestly think that people are blaming Gaia is the easiest thing to do. Because finger pointing is always the better solution instead of either taking fault in one self or coming out with a more effective solution.

And again Gaia has stated in the past that it doesn't have any control over what people input. The people have that control and they will always raise the price. It's basically the old buy low, sell high routine taken to the extreme. Gaia can't do anything about it. Much like Perfect World International can't do anything about prices of gold selling by the millions.

You can blame it on an inanimate object or on Gaia all you want, but the fact remains that individual sellers who are high balling the item price are the ones who are truly at fault. Regardless of how many gold sinks Gaia puts out isn't going to be the solution but create a bigger problem. Hell even a higher tax would create problems.

The number of people hitting the limit before the gold generators started coming out were minimal, if anyone had hit it at all- as far as I am aware, finding the limit was a recent thing. Now there are thousands of people who have hit that limit.

Vendors are marking prices 'higher' because gold has been devalued - it is no longer considered expensive to be at 50mil. That is now a low- to mid-range item. This is only possible because so many people have billions of gold laying around to buy with, and this is now the norm because there is a complete excess of it in the system.

If half of the gold in circulation were removed, the prices in the marketplace would drop drastically because gold would have more value. As Gilla explained - it's like the people of Zimbabwe paying 5 million for a loaf of bread because money was printed, and printed, and printed. The same basic principle works on virtual economies - if you keep printing the money, it isn't going to be worth anything at all and you'l have to charge more of it to get the same valuation on an item.

It isn't that people are asking MORE for the items - it's that they NEED more to get the same value for their sales. 1mil a year ago is over 100mil now- if they asked for 1mil, they'd have a hard time recovering from that loss. And it WOULD be a loss- it would be like selling an item worth 1mil for 1k at this time last year. Because gold is so worthless at this point, prices go up but the actual value of the items does not change. The prices still reflect that value.

Gaia has made it all but impossible to survive in the current economy without the use of cash - BootyGrab and other games will certainly never be adjusted to compensate, because that would hurt Gaia's bottom line. The only possible non-cash option for anyone questing something not available in the gold shops these days is vending - which would be extremely difficult for any new users or those starting from scratch because, other than buying cash, they would have nothing to start with and no real way to rack up the millions that would be required.

People inputting high amounts is not the cause of the problem. The cause of the problem is gold not being worth anything - which is a problem directly caused by Gaia and their gold generators. Users have no control over the value of gold. They still sell the items at their value, which because of the abundance of gold, means that the buy price is a higher number- not more expensive.

Um except 1 mil last year=1 mil now. So I'm not understanding how it would change. 1 bil last year is still 1 bil today and so on. An item worth 2 mil last year is still 2 mil. However if there is no supply for it then it doubles in price.

It's kind of like actual video games. The cost of certain games are going to be doubled because there are no copies left or x amount. Like the game Koudelka. When it came out in the 90's it was probably $30 (I'm not sure to be exact but I imagine that PS1 games weren't as expensive as PS2 and PS3 games.), today it's about $199 because it's a rare game due to the manufacturer closing down (Infogames filed for bankruptcy, Sacnoth became Nautilus which in recent years also closed down) and because x amount were made. It has nothing to do with inflation. The same goes for many of the later gen Evolving Items. There are hardly any listings for the items anymore which makes the originals even more of a rarity (and also due to them being re-released by Gaia)  

[Daypaw]

Astra Green

Um except 1 mil last year=1 mil now. So I'm not understanding how it would change. 1 bil last year is still 1 bil today and so on. An item worth 2 mil last year is still 2 mil. However if there is no supply for it then it doubles in price.

It's kind of like actual video games. The cost of certain games are going to be doubled because there are no copies left or x amount. Like the game Koudelka. When it came out in the 90's it was probably $30 (I'm not sure to be exact but I imagine that PS1 games weren't as expensive as PS2 and PS3 games.), today it's about $199 because it's a rare game due to the manufacturer closing down (Infogames filed for bankruptcy, Sacnoth became Nautilus which in recent years also closed down) and because x amount were made. It has nothing to do with inflation. The same goes for many of the later gen Evolving Items. There are hardly any listings for the items anymore which makes the originals even more of a rarity (and also due to them being re-released by Gaia)

1mil today is not valued at 1mil 1 year ago, unfortunately sad What you're talking about is items being more expensive due to supply and demand issues- it isn't the same as inflation. Inflation is the increase of the price of ALL items, plentiful or rare, due to problems with the economy. Suppy and demand effects the perceived value of an item- inflation affects the actual price that you see in the marketplace.

Let me pull up an example--

Here are 3 items, with their marketplace graphs.
Kitten Star is a 'rare' item that has always been expensive due to supply and demand. It's value has gone up due to inflation.
The Katana was a moderately priced item- so it was less expensive last year, and it's price has gone up steadily with the inflation. It is a commonly quested item, but was reasonably plentiful.
The last item, Little Octopus, used to be cheap as dirt- I think I bought one for 14k. Hardly anyone wants it- it isn't a popular item. It has also spiked in price, because of inflation. The supply/demand issue would have had nothing to do with this one because hardly anyone wants this item. It simply requires more gold to meet that minimal value- which is still lower than the others but about 300% of it's previous cost.

show spoilerhide spoiler

Supply and Demand helps influence the value of the item, yes- but the economy and inflation determine the actual number that the value equals. A year ago, that octopus would have cost 20k. It still isn't popular- but it's still skyrocketed into the millions.

I'll use the example of the bread in Zimbabwe again- with supply and demand included.
If bread is plentiful and valued as something cheap, last year it would run you $5.
If bread is scarce, it may run you $10.

This year, because of inflation, the value of the bread has not changed but you're paying $5,000,000 for it because $5,000,000 today is worth $5 last year.
If bread is scarce, it will run you $10,000,000 because that $10,000,000 is valued the same as $10 last year.

The bread hasn't changed in value, the supply and demand hasn't changed- the difference is that there is so much money in the economy that it is worth so little and takes more to hit that set value. In real world societies, when this happens, peoples pay checks increase the same as the cost of items because they require more pay to meet the same value for their work. This doesn't work on Gaia because not everybody has access to money at the current rates- only those buying cash do, which leaves those grinding basically out of luck to catch up.

Another way to think about it is to look at real-world exchange rates. A British Pound is worth more than a US Dollar, but a US Dollar is worth quite a bit more than Japanese Yen. These differences are present because of differences in the economy and the value of that money. It takes a bit over 100 Yen to equal 1 Dollar- but if you were buying something internationally, the value would be the same. Something that costs someone using the Dollar 50.00 will run someone using Yen exactly 5143.50 Yen - they're not paying more, it just takes more currency to meet the value of that item because the Yen is worth less.

What has happened on Gaia is that the Gold is now worth less, like the Yen, so it takes more to hit that same value.  

[Astra the Fae]

Daypaw

Astra Green

Um except 1 mil last year=1 mil now. So I'm not understanding how it would change. 1 bil last year is still 1 bil today and so on. An item worth 2 mil last year is still 2 mil. However if there is no supply for it then it doubles in price.

It's kind of like actual video games. The cost of certain games are going to be doubled because there are no copies left or x amount. Like the game Koudelka. When it came out in the 90's it was probably $30 (I'm not sure to be exact but I imagine that PS1 games weren't as expensive as PS2 and PS3 games.), today it's about $199 because it's a rare game due to the manufacturer closing down (Infogames filed for bankruptcy, Sacnoth became Nautilus which in recent years also closed down) and because x amount were made. It has nothing to do with inflation. The same goes for many of the later gen Evolving Items. There are hardly any listings for the items anymore which makes the originals even more of a rarity (and also due to them being re-released by Gaia)

1mil today is not valued at 1mil 1 year ago, unfortunately sad What you're talking about is items being more expensive due to supply and demand issues- it isn't the same as inflation. Inflation is the increase of the price of ALL items, plentiful or rare, due to problems with the economy. Suppy and demand effects the perceived value of an item- inflation affects the actual price that you see in the marketplace.

Let me pull up an example--

Here are 3 items, with their marketplace graphs.
Kitten Star is a 'rare' item that has always been expensive due to supply and demand. It's value has gone up due to inflation.
The Katana was a moderately priced item- so it was less expensive last year, and it's price has gone up steadily with the inflation. It is a commonly quested item, but was reasonably plentiful.
The last item, Little Octopus, used to be cheap as dirt- I think I bought one for 14k. Hardly anyone wants it- it isn't a popular item. It has also spiked in price, because of inflation. The supply/demand issue would have had nothing to do with this one because hardly anyone wants this item. It simply requires more gold to meet that minimal value- which is still lower than the others but about 300% of it's previous cost.

show spoilerhide spoiler

Supply and Demand helps influence the value of the item, yes- but the economy and inflation determine the actual number that the value equals. A year ago, that octopus would have cost 20k. It still isn't popular- but it's still skyrocketed into the millions.

I'll use the example of the bread in Zimbabwe again- with supply and demand included.
If bread is plentiful and valued as something cheap, last year it would run you $5.
If bread is scarce, it may run you $10.

This year, because of inflation, the value of the bread has not changed but you're paying $5,000,000 for it because $5,000,000 today is worth $5 last year.
If bread is scarce, it will run you $10,000,000 because that $10,000,000 is valued the same as $10 last year.

The bread hasn't changed in value, the supply and demand hasn't changed- the difference is that there is so much money in the economy that it is worth so little and takes more to hit that set value. In real world societies, when this happens, peoples pay checks increase the same as the cost of items because they require more pay to meet the same value for their work. This doesn't work on Gaia because not everybody has access to money at the current rates- only those buying cash do, which leaves those grinding basically out of luck to catch up.

Another way to think about it is to look at real-world exchange rates. A British Pound is worth more than a US Dollar, but a US Dollar is worth quite a bit more than Japanese Yen. These differences are present because of differences in the economy and the value of that money. It takes a bit over 100 Yen to equal 1 Dollar- but if you were buying something internationally, the value would be the same. Something that costs someone using the Dollar 50.00 will run someone using Yen exactly 5143.50 Yen - they're not paying more, it just takes more currency to meet the value of that item because the Yen is worth less.

What has happened on Gaia is that the Gold is now worth less, like the Yen, so it takes more to hit that same value.

I'm going to agree to disagree. I also don't see the point in comparing an online economy based on real life economy. It's comparing apples to oranges. But meh, if that's your thing then that's awesome.  

[Daypaw]

Astra Green

I'm going to agree to disagree. I also don't see the point in comparing an online economy based on real life economy. It's comparing apples to oranges. But meh, if that's your thing then that's awesome.

But a virtual economy IS the same as a real economy xD~ That's why these problems exist. Apples to oranges in some ways, certainly- but apples to apples in the way that it functions and sustains its self. Too much currency makes it worth less which makes the economy crash- an the price of everything goes sky high.

But we can certainly agree to disagree~ Either way, I don't see the problem ever resolving so much as I see the economy collapsing in the near future.  

[Lady Lilith Mistfang]

Many feel very frustrated about how Gaia is treating this MMO Game, I am one of many who feel this way.
It's like we give such a damn over inanimate objects that we are willing to spend real money and I have, for which not only this game but any other MMO Sites feed off of.

 

[Artistic Wizard]

Setsunasa

I remember when 100k was a big deal on the Marketplace haha! The gold inflation sure did skyrocket...

Is there any way to fix it though? Seems like the more Dice Roll / Chance stuff the put out the more it bumps up gold prices D:

I miss you Setsu-chan <3

How are you?

And inflation is so sad sad And Im pretty sad that despite the number of Gaia cash sales, Gaia has refused to make any updates in the other features except for the cash shop items sad