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What to do with gold - how do you fight inflation?

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roguefx

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Friday, September 23rd 2011, 3:00pm

What to do with gold - how do you fight inflation?

Well, simply put, if you hold on large amount of gold, it is more likely that it will become worthless in future, so I wonder what the fellow players do in the order to protect their investments?!

Are you buying gear or do you have some other ways to ensure that your gold does not get eaten by inflation??

aardvark3

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Friday, September 23rd 2011, 3:24pm

As soon as I see anything in the AH that I can afford that is useful or can be resold I buy it. Try to keep my gold well below 10 million.
Recently I bought several items for 4 million and put them back in the AH for 12 to 15 million to save room in my inventory and instead of sitting there they sold!
Now as a FTP player I have a complete Yawaka set with excellent stats. My gear which while not as good as someone with unlimited diamonds is all very good. You can make inflation work in your favor but it can't go on forever the crash is taking place, the one thing you don't want to have when that happens is gold.

KatalanOrk

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Friday, September 23rd 2011, 3:41pm

@Earthpig3: Don't you have that the wrong way about?

The value of gold is crashing now - so sitting with gold doing nothing is hurting the value of your assets.

But if a crash is coming, it is the gold value of items - so if you spend 500kk on a GCHM weapon, then bubble bursts - it is worth 35kk your assets have taken a hit. If however you hold onto your 500kk and it crashes to that level then you have er, several times the assets you would have with the weapon alone.

Perhaps I'm misunderstanding you. More than possible.

To the OP, just don't stockpile stuff. It is always a risk, and there is no need to at your level. A level 32 toon has no need of huge amounts of gold, and no way of obtaining it short of insame amount grinding (don't level instead), cheating (don't or I'll be very disappointed in you and you don't want that happening) or adding lots of real life money (no need to do that at your level, and if you do then spend the gold quickly on bargains).

Inflation will slow down, gold is slowly stopping to accumulate. It will take a while for prices to normalise but you can kind of avoid that by just working away at producing stuff yourself. Get yourself levelled, get some mems, farm some shells, have a little boogie, make a little love, get down tonight.

Don't worry about it really. It may all be a bad memory by the time it can effect you.

roguefx

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Friday, September 23rd 2011, 3:50pm

@KatalnOrk - not sure why everyone says that gold is not that important at my low level, where I found it to be very useful to be able to afford couple of house maids (and have them level before you really need them), nice leveled pet (spending large amount of cash on pet) and at least some stats to your gear. In overall, experience with game is much better if you don't have to pay death debts all the time. :D

It will hurt some people who will make bad investments, hopping to make money later... but what if this continue for couple more months and gold becomes even more worthless??:eek:

aardvark3

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Friday, September 23rd 2011, 4:06pm

If you have gold today and buy something worth 1 million today, tomorrow it is worth 4 million you have the item for 3 million less gold. If you keep 1 million tomorrow you can't buy the item tomorrow your gold is worthless.
One of the ways they solve the problem of too much money or gold is devaluating it taking 10 or 100 old gold making it 1 new gold. Not saying that is what will happen here but governments do that all the time and the prices never drop when it happens so the 1 million gold item will still cost 1 million gold but your 1 million gold will be only 1,000 or 10,000 gold after devaluation and you can't afford it, if you have bought the item you can now sell it for even 100,000 gold and still come out ahead.
Gold can and does lose its value but items always maintain theirs.
People saving huge amounts of gold is what caused this inflation, they will find a way to prevent this from happening again and you have to protect yourself from this happening. Do you honestly believe 1,000,000,000 gold in your account will be worth that after they fix things. I don't.

KatalanOrk

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Friday, September 23rd 2011, 4:24pm

My point is you don't need it.

I don't have a pet - I might start to level some of the ones that I have lying about but to me it smacks a little bit too much of a tamagotchi.

Housekeepers are pretty good for the buffs and pots, but you don't need them.

Certainly gold can make everything easier - but it can also take away some of the struggle that allows you to learn what your class is about and capable of, Then again it may make you push the boundaries even further. If you are contributing financially to the game, that's cool if you are happy to. But you don't need to level which should be your number one priority atm.

And bad investments happen to everyone, just try to make sure that you feel you are getting value at the time. Should it all go wrong, you won't mind cos you were happy to do it at the time. Don't feel pressurised into spending $200 on Crimson stats cause you are worried that something will happen to make them more expensive, as if things don't go to plan then you are left with a very bad taste in your mouth.

Just do stuff you are happy doing, and well, you'll be happy :)

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Friday, September 23rd 2011, 4:33pm

Quoted from "aardvark3;466662"

People saving huge amounts of gold is what caused this inflation, they will find a way to prevent this from happening again and you have to protect yourself from this happening. Do you honestly believe 1,000,000,000 gold in your account will be worth that after they fix things. I don't.


That isn't true. A gold exploit caused this inflation. This has been confirmed on the Polish Boards where I beleive their problem is even worse than yours is here, and that is with the Dia NPC enabled.

It was calculated (I have no idea how accurately) that from one Polish ebay-type site - 3kkk illegal gold was sold every day for one server. The inflationary of effects rich endgamers hoarding gold, or the price of a puri (when many t6 their armour or above) when compared to this is absolutely neglible.

The gold exploit is closed, and the idea that the hard limit of how much gold you can have on one account will be worth nothing is just not true.

Just as lots of people are doing very well out of this inflation, many are doing very poorly, but it will stabilise eventually. And hopefully players will help out with this, cause I think that if the developers have to get involved to take direct action in the economy people are not going to be happy about. I reckon that would be absolutely brutal.

roguefx

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Friday, September 23rd 2011, 4:49pm

At least we agree that being happy is priceless... and this game sure can give a lot for very little (f2p or what some call p2w game :))

Well, I find pet being very useful and easy to manage (thanks to vfwiffo's great tutorial) and for low level player material gathering are very important part of leveling craft and/or make some gold in AH by selling elite skill required mats. (Last night was selling beetroot sap for 25-35k and they all sold in less then 2 hour that I played) I don't know why you think that pet is not worth having, but I know that it did help me a lot. (for example I was able to go solo after low level boss that otherwise I could not)

I find collecting pet eggs, using one you need to level your pet and selling all other very profitable. And kind of side job for doing dailies. (last night got multiple pets, 2 of them being rune pets)

As for house maids, it makes huge difference to have them. Even at low level, they provide more protection or other stats, and at your leve it might be nothing, but for my toon that might be difference between duying and living. Combined with pets, it made it possible for even low level player such as myself to fight +5 level mobs very easy, thus gaining much more XP/TP then I would otherwise.

So in overall, game is more fun to run with all of this...

But the problem is that accumulating gold seems to be bad idea at the time... or I might be wrong....

TheMann64

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Friday, September 23rd 2011, 5:34pm

Quoted from "KatalanOrk;466668"

That isn't true. A gold exploit caused this inflation. This has been confirmed on the Polish Boards where I beleive their problem is even worse than yours is here, and that is with the Dia NPC enabled.

It was calculated (I have no idea how accurately) that from one Polish ebay-type site - 3kkk illegal gold was sold every day for one server. The inflationary of effects rich endgamers hoarding gold, or the price of a puri (when many t6 their armour or above) when compared to this is absolutely neglible.

The gold exploit is closed, and the idea that the hard limit of how much gold you can have on one account will be worth nothing is just not true.

Just as lots of people are doing very well out of this inflation, many are doing very poorly, but it will stabilise eventually. And hopefully players will help out with this, cause I think that if the developers have to get involved to take direct action in the economy people are not going to be happy about. I reckon that would be absolutely brutal.


You and aardvark are both right actually. Gold value was artifically high because a lot of really rich end-gamers were holding onto their gold, not doing anything with it. When the new chapter came out, those same end gamers started regearing, and rather than buy diamonds they sought to buy diamonds from other players. Diamond seller supplies were low, demand was on the rise, so the price of diamonds skyrocketed. More of the end-gamer gold reserves were released into the economy, driving down the relative value of gold. Didn't help that players equated, at least to some degree, the value of their equipment with the value in diamonds it cost to make the equipment.

Gold supply increased, diamond price increased, gold value decreased. Prices go up, unscrupulous players turn to gold sellers to help fill the void (gold seller gold is either dupped, or it is also sitting in large stockpiles waiting to be released into the economy), and the cycle continues.

Luckily, overly high demand for diamonds wanes after end gamers get their gear all supped up; gold sellers are being dispatched at a healthy rate; illegal gold is leaving the game; and end-gamers can start selling gear/stats on the AH, which will drive the AH prices back down again. Give it time, and with a little help from Frogster (economy update this week Swag? You promised........) and things should get back to normal.
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Friday, September 23rd 2011, 5:34pm

I would say that there are certain things that a knowledgeable newbie can spend gold on. Housekeepers are one. They are great for the buffs, for the food and potions, and even as storage. As long as you see good 100 charisma ones, they are very much worth grabbing early, since they need a lot of time and there is no way to speed up their development.

Pets (and thanks for the compliment on the guide) is another potential money sink that takes time. You can sorta spend your way into a great pet, but it is much cheaper to put in time. You can start stockpiling cheap eggs as a new toon while you wait for right eggs for chain merging.

Leveling crafting is another thing that can be money sink at times and can be started early.

Buying yellow statted gear which many L55+ make from junkier instance run drops is another way to spend money. You dont want to overtwink as a newb, but you don't want to walk around with 35-40% of other people HPs which is all that quest gear will really give you compared to moderately statted toon
-- Rustyx --- 92R / 92S / 92M on Reni (Guild KnightShift). Yes, running the new FOTM R/M, cause I am not elf enough to be WD/S.

Oh, and people who have more than 3 classes are clinically insane.

roguefx

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Friday, September 23rd 2011, 6:38pm

I'm glad I got it right, and all thanks for pet goes to you. It did what guide should do - give me idea how to best use them.

Same goes for housemaids, where after reading tutorial I found it attractive to have buff for night-play and some food/crafts such as the one that gives you speed increase of 15%. (any level can use that :)) That extra storage space (and only that you can get for gold in game) makes it much easier to organize.

And lastly, I am buying some stated gear, but also some gear that I will use to create my own gear in the future.

I still think that having large amount of gold atm is bad idea, but it might change. It would definitely change if they include NPC selling diamonds like they do on EU servers.