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Isk exchange between Dust and Eve; updated exchange rates
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I Was There
Habemus
#21 - 2013-12-13 15:40:21 UTC
How do you transfer isk to and from dust. I really don't get it.
Xenias Gigawatt
The Greater Goon
#22 - 2013-12-13 16:11:34 UTC
They're working like a money changer I think. They have a stockpile of both eve isk and dust isk. You give them an agreed upon amount in one game and they convert and pay out in the other. It's actually fairly clever imo,
Xenias Gigawatt
The Greater Goon
#23 - 2013-12-13 16:13:43 UTC
As for deciding what rates to charge, since your business is rather unique as far as the eve economy goes, I would just set a price that seems "appropriate" and just gather records and transaction logs to analyze whenever you mess with the rates. Personally, I think as much as 20% may be appropriate but it depends on how much work your doing and the volatility of the exchange rate.
Min Lo
Docwagon
#24 - 2013-12-13 18:48:05 UTC
Xenias Gigawatt wrote:
They're working like a money changer I think. They have a stockpile of both eve isk and dust isk. You give them an agreed upon amount in one game and they convert and pay out in the other. It's actually fairly clever imo,


That's exactly right.

Xenias Gigawatt wrote:
As for deciding what rates to charge, since your business is rather unique as far as the eve economy goes, I would just set a price that seems "appropriate" and just gather records and transaction logs to analyze whenever you mess with the rates. Personally, I think as much as 20% may be appropriate but it depends on how much work your doing and the volatility of the exchange rate.


That's sort of what I'm doing, approaching whatever exchange rate the market will bear, from the direction of Dust to Eve transfers, since I had a modestly large stack of uninvested Eve isk, but a relatively small stack of Dust isk.

The most up to date rates are found in This Dust thread

I'll be really curious to see whether the offered rate of Eve to Dust exchanges reaches 6 to 1, before CCP strengthens the connection enough to entice wealthy Eve players to pile up some Dust isk. I don't think the isk-less Faction warfare payouts are a big enough patch to drive Eve player interest in Dust yet, but within the year I think we'll see something more significant. Perhaps when they fix Dust's effects on null space sovereignty.

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
I Was There
Habemus
#25 - 2013-12-13 21:20:21 UTC
Xenias Gigawatt wrote:
They're working like a money changer I think. They have a stockpile of both eve isk and dust isk. You give them an agreed upon amount in one game and they convert and pay out in the other. It's actually fairly clever imo,


Actually, **** that. They should rename DUST's money to something else than isk.
Batelle
Federal Navy Academy
#26 - 2013-12-13 21:55:40 UTC
I Was There wrote:
Xenias Gigawatt wrote:
They're working like a money changer I think. They have a stockpile of both eve isk and dust isk. You give them an agreed upon amount in one game and they convert and pay out in the other. It's actually fairly clever imo,


Actually, **** that. They should rename DUST's money to something else than isk.


How about DISK ?

Then when the economies get integrated 2-3 years from now, we can just drop the D.

"**CCP is changing policy, and has asked that we discontinue the bonus credit program after November 7th. So until then, enjoy a super-bonus of 1B Blink Credit for each 60-day GTC you buy!"**

Never forget.
Jenjuan
Amargosa Observatory
#27 - 2013-12-16 19:02:04 UTC
This would never work. Almost no one will want to transfer Dust Isk to Eve, almost all of it will be the other way around, so you will very, very, very quickly run out of Dust ISK to sell.
Min Lo
Docwagon
#28 - 2013-12-17 00:15:33 UTC  |  Edited by: Min Lo
Jenjuan wrote:
This would never work. Almost no one will want to transfer Dust Isk to Eve, almost all of it will be the other way around, so you will very, very, very quickly run out of Dust ISK to sell.


So far that hasn't been the case. Mostly people want to exchange their Dust isk for Eve isk, at a rate approaching 1:6.

Currently I have about 3B Dust isk for sale. The most current rates can be found in this Dust thread.

The current rates for Eve to Dust transfers are:

600M Eve for 75M Dust isk, for the "A" batch; - next available.
600M Eve for 75M Dust isk, for the "B" batch;
600M Eve for 70M Dust isk for the "C" batch;
600M Eve for 70M Dust isk for the "D" batch;
600M Eve for 60M Dust isk for the "E" batch;
600M Eve for 60M Dust isk for the "F" batch;
600M Eve for 60M Dust isk for the "G" batch;

-Gyn Wallace, Dust side
- Min Lo, Eve side

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Min Lo
Docwagon
#29 - 2013-12-19 14:50:51 UTC
Min Lo wrote:
Jenjuan wrote:
This would never work. Almost no one will want to transfer Dust Isk to Eve, almost all of it will be the other way around, so you will very, very, very quickly run out of Dust ISK to sell.


So far that hasn't been the case. Mostly people want to exchange their Dust isk for Eve isk, at a rate approaching 1:6.

Currently I have about 3B Dust isk for sale. The most current rates can be found in this Dust thread.

The current rates for Eve to Dust transfers are:


Updated rates, as of Dec. 19th, 2013

600M Eve buys 60M Dust isk for the "L" batch; - next available batch.
600M Eve buys 60M Dust isk for the "M" batch;
600M Eve buys 60M Dust isk for the "N" batch;
600M Eve buys 60M Dust isk for the "O" batch;
600M Eve buys 55M Dust isk for the "P" batch;
600M Eve buys 55M Dust isk for the "Q" batch;
600M Eve buys 55M Dust isk for the "U" batch;
600M Eve buys 55M Dust isk for the "R" batch;


-Gyn Wallace, Dust side
- Min Lo, Eve side

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Min Lo
Docwagon
#30 - 2014-01-07 13:40:07 UTC
I'm increasing the number of batches at each rate before a rate change so that the current rates are:

Updated rates, as of Jan. 7th, 2014

120M Dust buys 600M Eve, 62nd batch; - Viktor queued
120M Dust buys 600M Eve, 63rd batch; - next available batch
120M Dust buys 600M Eve, 64th batch;
120M Dust buys 600M Eve, 65th batch;
120M Dust buys 600M Eve, 66th batch;
125M Dust buys 600M Eve, 67th batch;
125M Dust buys 600M Eve, 68th batch;
125M Dust buys 600M Eve, 69th batch;


For the opposite direction of isk transfers, converting Eve isk into Dust isk:

600M Eve buys 75M Dust isk for the "O" batch; - next available batch.
600M Eve buys 75M Dust isk for the "P" batch;
600M Eve buys 75M Dust isk for the "Q" batch;
600M Eve buys 75M Dust isk for the "R" batch;
600M Eve buys 75M Dust isk for the "S" batch;
600M Eve buys 70M Dust isk for the "T" batch;
600M Eve buys 70M Dust isk for the "U" batch;
600M Eve buys 70M Dust isk for the "V" batch;
600M Eve buys 70M Dust isk for the "W" batch;
600M Eve buys 70M Dust isk for the "X" batch;
600M Eve buys 65M Dust isk for the "Y" batch;
600M Eve buys 65M Dust isk for the "Z" batch;
600M Eve buys 65M Dust isk for the "AA" batch;
600M Eve buys 65M Dust isk for the "AB" batch;

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Serpentine Logic
Ministry of War
Amarr Empire
#31 - 2014-01-31 14:12:08 UTC
bags batch 63. Evemail me the details please.
Min Lo
Docwagon
#32 - 2014-01-31 19:04:22 UTC
Serpentine Logic wrote:
bags batch 63. Evemail me the details please.


Evemail sent, and the first page updated to show current rates.

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Min Lo
Docwagon
#33 - 2014-02-11 17:46:06 UTC
At what point or how should I measure whether the private exchange is a success?

I was looking at my spreadsheet, and realized that my initial price discovery costs have been recovered, and at the current pace of exchanges, I'll probably have recovered all the Eve isk I initially set aside for buying Dust isk pretty soon. If I've recovered my initial price discovery costs, and an nearly back to having as much Eve isk as I'd allocated for the Exchange... do I need to operate at some particular profit for the time I've spent completing transactions, before I can consider this a successful experiment?

If CCP opened an official exchange tomorrow, I think I'd be glad to spend less time reading and composing evemails, confirming wallet transactions and sending isk. But time spent running the exchange is at least as lucrative as anything else I've done in Eve/Dust.

A bond that pays off its investors at its expected rate of return is a pretty clear success. I wonder if the MD gurus have any insight into how to measure a currency exchange's success.

Also, top post rates and availability updated.

-Gyn Wallace/Min Lo

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Oiras Isimazu
State War Academy
Caldari State
#34 - 2014-02-12 19:51:32 UTC
is it safe to think that I'd get a lot more EVE Isk for my 500,000 start up DUST Isk?
Like :
on 2014.01.07 13:40
@ 120M Dust buys 600M Eve
Quote:
= 500,000k DUST Isk is worth 2,500,000 EVE Isk?


Except that I need about 52M DUST isk before I can transfer anything at those rates?
Min Lo
Docwagon
#35 - 2014-02-13 14:21:56 UTC
Oiras Isimazu wrote:
is it safe to think that I'd get a lot more EVE Isk for my 500,000 start up DUST Isk?
Like :
on 2014.01.07 13:40
@ 120M Dust buys 600M Eve
Quote:
= 500,000k DUST Isk is worth 2,500,000 EVE Isk?


Except that I need about 52M DUST isk before I can transfer anything at those rates?


Yes. You could probably get a transfer for a smaller amount, but at a even less advantageous rate.

-Gyn Wallace, Dust

-Min Lo, Eve

The Eve/Dust Isk Exchange Thread
Oiras Isimazu
State War Academy
Caldari State
#36 - 2014-02-13 14:24:23 UTC
Min Lo wrote:
Yes. You could probably get a transfer for a smaller amount, but at a even less advantageous rate.

That's very good, it would work very well, ty.
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