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ISK exchange rate
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Randrafir Kautsuo
Harper Industries Interstellar Holdings
#1 - 2012-02-09 22:29:55 UTC
(If this topic is a repost please ignore and accept my humble apologies. I did do a pre-search but did not find a similar post)



So, in my spare time I remembered that someone once told me that the in game currency
ISK is loosely base on the real world Icelandic currency, the Danish Krone (ISK).
That makes sense. If you're going to build an entire economy, why not emulate a real one?

With that knowledge I decided to research the exchange rate and I found out some fun facts when comparing prices in game market and translating their values from ISK to the US dollar and the Euro.

1 ISK = $0.01 USD = 0.00617 EUR

So with that defined, I found out that: (figures have been rounded to the nearest hundredth)

1 unit of Tritanium: 4.50 ISK / $0.04 USD / 0.04 EUR

1 Bloodclaw Fury Light Missile: 119 ISK / $0.97 USD / 0.73 EUR

1 Heron Frigate: 190,000 ISK / $1,556.23 USD / $1,171.42 EUR

1 Caracal Cruiser: 4,600,000 ISK / $37,677.14 USD / 27,540.34 EUR

1 Rhea Cargo Freighter: 8 Billion ISK / $6,552,545.35 USD / 4,454,900 EUR

So, with those equivalencies defined, for the same prices you could buy:

1 Unit of Tritanium = nothing ( I've lost more between my sofa cushions)

1 Bloodclaw Fury Light Missile = Baseball Card or a Cup of Fruit form your local grocery store

1 Heron Frigate = (roughly) 1 ounce of Gold or Rent a 1,300 sq ft home in Omaha Nebraska for one month.

1 Caracal Cruiser = 1999 Porsche 911 with 54,000 miles

1 Rhea Cargo Freighter = Entire Apartment Complex or Repave the M6 through London UK, or a Mansion in Beverly Hills



Gotta love that exchange rate!


So for a bit of fun, what do normal items in your life cost in ISK?
Lady Spank
Get Out Nasty Face
#2 - 2012-02-09 23:41:13 UTC
While the name comes from the Icelandic ISK, the exchange rate is unrelated. If you want to do this kind of comparison you have to consider the in-game value of a plex and it's real life cost to see how much EVE ISK you get for your dollar/euro.

Bear in mind some people might start getting mad about any even slight hint of giving in game ISK a real live value since real monetary transactions for in game ISK are a big no-no.

Having said that... 490 m isk currently costs 26.5 USD.

(ಠ_ృ) ~ It Takes a Million Years to Become Diamonds So Lets Just Burn Like Coal Until the Sky's Black ~ (ಠ_ృ)
DelBoy Trades
Trotter Independent Traders.
Stealth Alliance
#3 - 2012-02-10 09:05:40 UTC
http://www.shatteredcrystal.com/code.php/eve_online

$35 will get you 2 PLEX ~980million isk.

So, $1 = 28 million isk and 1million isk = $0.03.

Damn nature, you scary!
Randrafir Kautsuo
Harper Industries Interstellar Holdings
#4 - 2012-02-10 14:23:52 UTC
Okay, so what you both just replied with completely missed the point of the post.

The theory was CCP used a real currency as a basis to construct the one we know in Eve Online. Obviously the exchange valuation would be different as the market fluctuations, inflation rates, and market valuations concerning derivatives on the Eve Market is openly subject to players activities when effecting the flow of commodities and resources. As the in game Economy began back in January 22, 2008 when the game first saw broad release on American and European markets.

That taken into account; it is very likely that the economies in Eve and the real world were similar back then. Now over four years have passed and the markets behave independently of each other now. What I did in the original post was attempt to tie in game ISK to the currency it was once based on to attempt to achieve relation.

The purpose of this exercise?

For the fun of it. I am in NO WAY suggesting that in game currency and real world currency should be directly exchangeable.
So lighten up, have a little fun and figure out if what you would pay for a burrito could buy you a couple hundred rounds of anti-matter ammunition.

For example: I could pay my rent next month with a pallet of Trauma Heavy Missiles.
Utemetsu
#5 - 2012-02-10 14:29:47 UTC
ISK is Interstellar Credits, not Iceland's currency by the same name. To determine the exchange rate:
1. Check EVE Central for current PLEX cost.
2. Divide that cost by 19.95 (Current Cost to purchase plex in USD)
3. You now have the amount of EVE's ISK that is equatable to ONE (1) USD.

Your numbers just seem a little off.
Randrafir Kautsuo
Harper Industries Interstellar Holdings
#6 - 2012-02-10 14:47:30 UTC
Utemetsu wrote:
ISK is Interstellar Credits, not Iceland's currency by the same name. To determine the exchange rate:
1. Check EVE Central for current PLEX cost.
2. Divide that cost by 19.95 (Current Cost to purchase plex in USD)
3. You now have the amount of EVE's ISK that is equatable to ONE (1) USD.

Your numbers just seem a little off.


As they likely would. I did it by taking the Danish Krone (ISK symbol on the currency exchange market) and did the translation there based on today's market rates.

So with your calculations:

1. PLEX on the market is averaging 500,000,000.00 ISK as of today
2. PLEX/19.95 = 25,062,656.64
3. 25,062,656.64 ISK = $1 USD

So by that my calculations were WAY off and I overvalued in game ISK by equating it to the Icelandic Krone.

So with that kind of valuation spread playing the game I suggested becomes impractical, when in relation a fully equipped battlecruiser is equivalent in price to a six pack of soda.

Whereas the previous valuation made relating to it much easier. A fully armed battlecruiser is a serious investment, one only a well skilled and at least vested player could afford to use regularly. Similar in social statement to a Porsche 911, even one from 1999 with 50,000 miles. To own that kind of car and still be financially stable is a statement to the efforts and skills of the person who owns it.
Shartifartblast
In Praise Of Shadows
#7 - 2012-02-10 15:06:57 UTC
I treat my ships like cans of soda.
Randrafir Kautsuo
Harper Industries Interstellar Holdings
#8 - 2012-02-10 15:12:18 UTC
You crack them open and feast upon the gooey bits inside? Shocked
Shartifartblast
In Praise Of Shadows
#9 - 2012-02-10 16:12:55 UTC
I like to spurt the gooey bits at my enemies.
Brakor Enki
Be Nice Inc.
Prismatic Legion
#10 - 2012-02-10 17:12:00 UTC
Danish Krone =/= Icelandic Krona, just sayin'. The Danish Krone (DKK) is roughly 0.18 USD.
Randrafir Kautsuo
Harper Industries Interstellar Holdings
#11 - 2012-02-10 17:31:08 UTC
I get them mixed around since both are Nordic for "Crown" Oops
rodyas
Tie Fighters Inc
#12 - 2012-02-13 08:06:38 UTC
Well to be fair to get a real world comparison of in game ISK to currencies. You would need the plex cost (as previously stated) As well as the Illegal online website prices for ISK. Then play a balanceing game between those two to get the real value of ISK.

Signature removed for inappropriate language - CCP Eterne
Shalia Ripper
#13 - 2012-02-13 08:40:29 UTC
Why the hell would anyone want to rent a home in Omaha, NE for ANY amount of money?

They aren't called flyover states for nothing, you know.

Sig blah blah blah blah
Randrafir Kautsuo
Harper Industries Interstellar Holdings
#14 - 2012-02-13 15:29:08 UTC
1. 4.5 % unemployment rate. (and dropping)

2. Inexpensive cost of living.

3. Low crime rate (compared to other cities in the midwest)

4. Some of the lowest fuel prices in the nation

5. Pretty low taxes

6. Been around since the mid 1800's, birthplace of the intercontinental railway.

7. Still a major rail hub to this day.

8. Crash of 2008 happened, we barely noticed.

Unfortunately downtown or North O is a good place to go if you're interested in smuggling bullets or hiding blades in your corpse, but everywhere else is rather nice.

Yeah, you're right. I can't imagine why anyone would want to live here.