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Faction currencies to mitigate inflation

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Isaac Armer
The Soup Kitchen
#21 - 2016-01-15 19:09:13 UTC
GTN wrote:
Isaac Armer wrote:
Who determines that 100,000 trit are worth 100,000 caldari credits?


Who determines that 1 caldari credit is worth 6 isk?


I'm trying to get you to think through the idea you proposed, you tell me. It wouldn't work for a few very blatant reasons.
GTN
BALKAN EXPRESS
Shadow Cartel
#22 - 2016-01-15 19:11:35 UTC
Isaac Armer wrote:
GTN wrote:
Isaac Armer wrote:
Who determines that 100,000 trit are worth 100,000 caldari credits?


Who determines that 1 caldari credit is worth 6 isk?


I'm trying to get you to think through the idea you proposed, you tell me. It wouldn't work for a few very blatant reasons.

Yet those reasons are nowhere to be heard.
Isaac Armer
The Soup Kitchen
#23 - 2016-01-15 19:14:45 UTC
GTN wrote:
Yet those reasons are nowhere to be heard.


Walk me through how we would determine that 100,000 trit is worth 100,000 caldari credits.

You never answered my question.
GTN
BALKAN EXPRESS
Shadow Cartel
#24 - 2016-01-15 19:15:05 UTC
Isaac Armer wrote:
GTN wrote:
Isaac Armer wrote:
Who determines that 100,000 trit are worth 100,000 caldari credits?


Who determines that 1 caldari credit is worth 6 isk?


you tell me.


The userbase has determined that 1 tritanium is worth 6 isk, thus 1 caldari credit will be worth 6 isk. If the userbase determines that tritanium is worth 7 isk, then 1 caldari credit will be worth 7 isk.
GTN
BALKAN EXPRESS
Shadow Cartel
#25 - 2016-01-15 19:18:10 UTC
Isaac Armer wrote:
GTN wrote:
Yet those reasons are nowhere to be heard.


Walk me through how we would determine that 100,000 trit is worth 100,000 caldari credits.

You never answered my question.


The exchange rate of tritanium to caldari credit can be determined by the userbase through a voting system. But once set, it's forever.
SurrenderMonkey
State Protectorate
Caldari State
#26 - 2016-01-15 19:26:50 UTC
GTN wrote:
SurrenderMonkey wrote:
You seem to have skipped over the part where you establish that there is actually a problem and just moved on ahead with proposing an ill-conceived solution.


There is no problem and I didn't propose any solution. I just think that it would be great to have currencies backed by resources.


So instead of "Faction currencies to mitigate inflation" you should have titled this, "Faction currencies because idk it would be cool tho, rite?"

"Help, I'm bored with missions!"

http://swiftandbitter.com/eve/wtd/
GTN
BALKAN EXPRESS
Shadow Cartel
#27 - 2016-01-15 19:30:22 UTC
SurrenderMonkey wrote:
GTN wrote:
SurrenderMonkey wrote:
You seem to have skipped over the part where you establish that there is actually a problem and just moved on ahead with proposing an ill-conceived solution.


There is no problem and I didn't propose any solution. I just think that it would be great to have currencies backed by resources.


So instead of "Faction currencies to mitigate inflation" you should have titled this, "Faction currencies because idk it would be cool tho, rite?"


You are right, it would do nothing to stop ISK inflation, but at least it would give players the choice of using a currency that has some value.
Isaac Armer
The Soup Kitchen
#28 - 2016-01-15 19:32:10 UTC
GTN wrote:
The userbase has determined that 1 tritanium is worth 6 isk, thus 1 caldari credit will be worth 6 isk. If the userbase determines that tritanium is worth 7 isk, then 1 caldari credit will be worth 7 isk.


Exactly the problem. Now there are four more currencies to manipulate, making market fluctuation swing even wilder than they are now. It would do nothing for inflation, it would only line the pockets of those who care enough to play currency games. If anything, it would make predicting inflation/deflationary trends even more difficult than it is today.

The only feasible way you could use this to control inflation would be to have CCP set limits on the exchange rates, which is not something we want.
GTN
BALKAN EXPRESS
Shadow Cartel
#29 - 2016-01-15 19:37:10 UTC
Isaac Armer wrote:
GTN wrote:
The userbase has determined that 1 tritanium is worth 6 isk, thus 1 caldari credit will be worth 6 isk. If the userbase determines that tritanium is worth 7 isk, then 1 caldari credit will be worth 7 isk.


Exactly the problem. Now there are four more currencies to manipulate, making market fluctuation swing even wilder than they are now. It would do nothing for inflation, it would only line the pockets of those who care enough to play currency games. If anything, it would make predicting inflation/deflationary trends even more difficult than it is today.

The only feasible way you could use this to control inflation would be to have CCP set limits on the exchange rates, which is not something we want.

You say that you don't want CCP to set exchange rates, then complain when players manipulate the market and set their own exchange rates? The irony is strong.
Isaac Armer
The Soup Kitchen
#30 - 2016-01-15 19:40:59 UTC
GTN wrote:
You say that you don't want CCP to set exchange rates, then complain when players manipulate the market and set their own exchange rates? The irony is strong.


Did you read what I wrote? Players manipulating the market is good for the game. That taken to a ridiculous extreme is not.

"If a little of something is good, it doesn't mean a lot of the same thing is great"

That's the idea behind 'balance'
GTN
BALKAN EXPRESS
Shadow Cartel
#31 - 2016-01-15 19:57:19 UTC
Isaac Armer wrote:
GTN wrote:
You say that you don't want CCP to set exchange rates, then complain when players manipulate the market and set their own exchange rates? The irony is strong.


Did you read what I wrote? Players manipulating the market is good for the game. That taken to a ridiculous extreme is not.

"If a little of something is good, it doesn't mean a lot of the same thing is great"

That's the idea behind 'balance'


Good luck manipulating tritanium.
Danika Princip
GoonWaffe
Goonswarm Federation
#32 - 2016-01-15 20:16:02 UTC
So OP? How would this work for me?

I live in nullsec, and buy stuff with ISK. I don't mine unless I have to, and even then I cherrypick highends, I don't mine for trit.

If I wanted to buy fifty rifters, would I use ISK, or would I have to go through some convoluted method of importing trit to certain stations to convert to new currency to spend on the stuff I want, instead of just buying it? Would I have to keep five separate wallet balances in mind to use the market, or would this, in fact, just add compexity for no reason?


(As an aside, how much do you have invested in bitcoin right now?)
Isaac Armer
The Soup Kitchen
#33 - 2016-01-15 20:16:38 UTC
GTN wrote:
Good luck manipulating tritanium.


You don't understand how market manipulation works, do you? I didn't read the other responses, but going back and doing that, read what Serendipity Lost said.
GTN
BALKAN EXPRESS
Shadow Cartel
#34 - 2016-01-15 20:35:02 UTC  |  Edited by: GTN
Danika Princip wrote:
So OP? How would this work for me?

I live in nullsec, and buy stuff with ISK. I don't mine unless I have to, and even then I cherrypick highends, I don't mine for trit.

If I wanted to buy fifty rifters, would I use ISK, or would I have to go through some convoluted method of importing trit to certain stations to convert to new currency to spend on the stuff I want, instead of just buying it? Would I have to keep five separate wallet balances in mind to use the market, or would this, in fact, just add compexity for no reason?


(As an aside, how much do you have invested in bitcoin right now?)


If the person selling the fifty rifters is asking for caldari credits, you can open the eve market, go into the caldari credit / ISK exchange section, buy caldari credits with your ISK, then buy the fifty rifters with caldari credits. If the fifty rifters are for sale for ISK, then just buy them with ISK.

Right now I don't have anything invested in bitcoin because the majority of bitcoin in existence is in the hands of a few people. It's a ponzi scheme.
Danika Princip
GoonWaffe
Goonswarm Federation
#35 - 2016-01-15 20:37:47 UTC
So what's the advantage to buying credits, assuming someone is actually selling them in the hypothetical nullsec system we're talking about, instead of just buying the rifters directly?

And as a seller, what would be the advantage in asking for credits over ISK? It's all going to be measured in terms of it's ISK value anyway, surely?
Bumblefck
Kerensky Initiatives
#36 - 2016-01-15 20:39:43 UTC
GTN wrote:

What are your opinions?



My opinion is that we should let videogames be videogames

Perfection is a dish best served like wasabi .

Bumble's Space Log
GTN
BALKAN EXPRESS
Shadow Cartel
#37 - 2016-01-15 20:43:40 UTC  |  Edited by: GTN
Danika Princip wrote:
So what's the advantage to buying credits, assuming someone is actually selling them in the hypothetical nullsec system we're talking about, instead of just buying the rifters directly?

And as a seller, what would be the advantage in asking for credits over ISK? It's all going to be measured in terms of it's ISK value anyway, surely?


The beauty of currency is that it's a virtual good, so you can exchange currencies with a person that is on the other side of the universe, without knowing it. If you place a sell order in jita, people in amarr will see it and can buy it.

The difference between ISK and faction credit is that faction credit has a fixed value, it stays the same over time. The value of ISK? What is the value of ISK? You need to check every second, because the next second it may have another value.
GTN
BALKAN EXPRESS
Shadow Cartel
#38 - 2016-01-15 20:50:53 UTC
Danika Princip wrote:
So what's the advantage to buying credits, assuming someone is actually selling them in the hypothetical nullsec system we're talking about, instead of just buying the rifters directly?

And as a seller, what would be the advantage in asking for credits over ISK? It's all going to be measured in terms of it's ISK value anyway, surely?


For example, you sell a supercarrier and obtain 50 billion isk. The next day ISK loses 90% of its value and the same supercarrier is now worth 500 billion isk. You just gave a supercarrier away for free and the ISK that you got is useless.
Isaac Armer
The Soup Kitchen
#39 - 2016-01-15 20:57:38 UTC
GTN wrote:
The exchange rate of tritanium to caldari credit can be determined by the userbase through a voting system. But once set, it's forever.


I really, really hope you're trolling.
Danika Princip
GoonWaffe
Goonswarm Federation
#40 - 2016-01-15 20:57:48 UTC
You haven't actually given an advantage, just a situation which will literally never happen. How would ISK lose it's value when there isn't an alternative outside of some weird barter system?

Where is the advantage in forcing me to keep track of no less than five seperate wallets, maintain balances in five seperate currencies, and pay close attention to all the exchange rates and **** instead of just buying and selling what I want in ISK?

Complexity for it's own sake is not a good thing.