GW2 - How much gold do you guys have and how did you get it?

[Meledelion]

Another one who doesn't understand opportunity cost, I should've known...

[Kickbuttmario]

Another one who doesn't understand opportunity cost, I should've known...

Explain and educate me then <_<.

Also I forgot everything I learned about economics 101 so yeah.

[Eliandal]

A little over 4K gold - mainly by selling top tier mats to people who want to make their "Oh come shoot me now" weapons

[Meledelion]

Ok here goes in a simplified way: You as a person can only be at one place at a given time, this also counts for your money. This means that if you want to go to the zoo and you want to go to the movies as well you have to pick one. The result is that by choosing the zoo, you lose the ability to go to the movies and vice versa. (that was easy right)
Now, the same thing goes for money, you can either spend your money on going to the zoo or going to the movies (they cost the same and they cost exactly your budget).

This applies to what you said in the following ways:

... and I had the 2 gifts done last year. At the time, the t6 mats costed about 20-26s each.

A lot of the mats I farmed myself

and used Laurels. Similar to the glob.

2 months ago, I finished the gift of legendary for about 50-100g.

1. You put your money into the gift, this means that you can't do anything else with your money (you lost the opportunity to spend it on other stuff)
2. You put your time into farming, while farming you might have "saved" money by not having to spend it on the item but you could've farmed money instead and then bought the item (you lost the opportunity to do something else)
3. You put your laurels into getting t6 mats, you again could've used them for other things.
4. See 1.

While at first glance it looks like you made a profit, it's possible (and likely) that if you hadn't put your gold into the other stuff you could've made even more money in the mean time.

edit: I came up with an example that might make it more obvious.
Let's say you get a 2k pay-check this month and in order to save money you decide to hide it somewhere in your house. 70 Years later you find that check and it turns out to be worth 200k. While you can say you made a 198k profit, you'd be wrong since you could've invested that 2k into a savings account and it could be worth 250k if you had done that meaning that you actually lost 48k.

Here's a more in depth explanation.

[Kickbuttmario]

Ok here goes in a simplified way: You as a person can only be at one place at a given time, this also counts for your money. This means that if you want to go to the zoo and you want to go to the movies as well you have to pick one. The result is that by choosing the zoo, you lose the ability to go to the movies and vice versa. (that was easy right)
Now, the same thing goes for money, you can either spend your money on going to the zoo or going to the movies (they cost the same and they cost exactly your budget).

This applies to what you said in the following ways:

1. You put your money into the gift, this means that you can't do anything else with your money (you lost the opportunity to spend it on other stuff)
2. You put your time into farming, while farming you might have "saved" money by not having to spend it on the item but you could've farmed money instead and then bought the item (you lost the opportunity to do something else)
3. You put your laurels into getting t6 mats, you again could've used them for other things.
4. See 1.

While at first glance it looks like you made a profit, it's possible (and likely) that if you hadn't put your gold into the other stuff you could've made even more money in the mean time.

edit: I came up with an example that might make it more obvious.
Let's say you get a 2k pay-check this month and in order to save money you decide to hide it somewhere in your house. 70 Years later you find that check and it turns out to be worth 200k. While you can say you made a 198k profit, you'd be wrong since you could've invested that 2k into a savings account and it could be worth 250k if you had done that meaning that you actually lost 48k.

Here's a more in depth explanation.

Hmm I guess that makes sense and a big reminder to some concepts I enjoyed in that class. I guess all I can truly say is that I got 2600 gold by selling a legendary I made...

Now what did the <500g mean?

[Meledelion]

Howler costs 1.9k to make (give or take), the current sell price is 2.8k fees are 15% of that 2.8k = 420g this means that your profit is (give or take) 400g meaning that you pulled 500g of extra profit out of somewhere, I was saying that the 500g of extra profit had to come from somewhere and I was expressing my doubts that you nearly halved the costs of precursor+other mats.

Sorry for being snarky about this, but this is a common mistake which annoys the everliving crap out of me and it just seems to keep coming back every so often (last time Silverbleed warned to not go into it if I recall correctly )

[Fhi]

Sorry for being snarky about this, but this is a common mistake which annoys the everliving crap out of me and it just seems to keep coming back every so often (last time Silverbleed warned to not go into it if I recall correctly )

At least this one's open to explanation, unlike many who say stuffs like "Why should I pay $10 in real money to get 90g when I can spend 6 hours farming 90g for free."

[lawow74]

At least this one's open to explanation, unlike many who say stuffs like "Why should I pay $10 in real money to get 90g when I can spend 6 hours farming 90g for free."

That one is a choice of which is more valuable to you: time or money. Pretty simple.

[Deleted]

Not sure if you're talking to me but I sold my Howler for 2900g. I bought the Howl for 480g and I had the 2 gifts done last year. At the time, the t6 mats costed about 20-26s each. A lot of the mats I farmed myself and used Laurels. Similar to the glob.

2 months ago, I finished the gift of legendary for about 50-100g.

I forgot exactly where I got my posting money but I remember selling about 50 charged lodestones (got about 140g from that whole shindig)...

Again, all of this ended up possibly yielding me a about 1k+ gold...

That's not even possible. It costs a minimum of 100g because of the Icy Runestones. Also you need the crafting recipes which makes it 120g so you're way off.

- - - Updated - - -

And I'm proud to announce myself;

I'm now flat broke.



Took me forever, but I did it =D
I'll annoy you guys later on with some more screenshots of it when I get home.

[zed zebes]

Grats! Did you get your precursor first or your mats?

[zito]

That's not even possible. It costs a minimum of 100g because of the Icy Runestones. Also you need the crafting recipes which makes it 120g so you're way off.

- - - Updated - - -

And I'm proud to announce myself;

I'm now flat broke.



Took me forever, but I did it =D
I'll annoy you guys later on with some more screenshots of it when I get home.

what? How did you get the t6 mats so fast? help me!

[Kickbuttmario]

That's not even possible. It costs a minimum of 100g because of the Icy Runestones. Also you need the crafting recipes which makes it 120g so you're way off.

- - - Updated - - -

And I'm proud to announce myself;

I'm now flat broke.



Took me forever, but I did it =D
I'll annoy you guys later on with some more screenshots of it when I get home.

Grats senpai! Oh good good gosh, your legendary is turning me on ^_^...

[Deleted]

Thanks guys!! Soooo happy with it!

My secret? Holidays. One positive side of going to college is 2 months no college in summer. And having no life as well (I live 2hrs from my friends and cannot afford the costs to go very often).

A few other things that helped as well was my trade in dyes. I used to make a lot of money with that before the april patch. Had a lot of dyes sitting in my bank since then, including things like Abyss, Celestials, Flare, Charred etc. Those dyes (most of them) went back to their usual prices again and I even made a small profit of those. I got my investments back and I invested ... a lot xD So that was 256g exactly, with 47g the profit. So not a huge profit for the many months I had it in my bank, but at least no loss like I was afraid for after April.

Second I had many skins like Tormented and Phoenix. Also made a decent profit, and it returned my investments. That was 387g total. So if you count those two up, I got to 643 gold from just that. I already had 600+ gold cash. That's when I decided to buy my precursor (I have shit luck, so I didn't even try gambling). I bought it a few weeks ago, so every penny I gained went to T6, Runestones, other mats and ecto's.

Every single day when I salvage my rares, I keep the major runes and sigils. When I have 4, I throw them in the mystic forge. Once in a while you get lucky and you can sell your rune/sigil for 4-8g.
I also salvage only light armor for silks, the rest I sell because that's almost 2s each, a bigger profit than mithril ore/leather you often get.

For the rest pretty much mindless gaming. Many fractals and dungeons with guildies (I'm happy I have great guildies, it's fun too!) Get lucky once in a while... (charged cores and such)

And I do a weekly bank sale. Depending on the item, wait for the right moment of the week. Avoid weekends, I would suggest to sell most of your items on Wednesday or Tuesday. There are a few exceptions, but because of the many more people playing in the weekends, items get way way cheaper. I also bought T6 only in weekends if I decided to buy any. And I sold my T6 on wednesdays (and even if 35s for Powerful venoms was the lowest seller, I always sold it at night at 38s). In the weekend the T6 got way lower (like 32s for Powerful Venoms) if you keep an eye out.

Hope this helps all of you.

But yeah. Seriously flat broke now, I got nothing. Every single time when I needed things like an ecto for my clay pot for the backpiece, I had to do a few worldbosses because I couldn't even buy one hahaha.

[zito]

I'm going to sell my scarlets rainbow for 400g and hopefully that will be enough to finish the rest of my mats.

Just noticed I needed 750 crystaline dust da fuck

[lawow74]

I also salvage only light armor for silks, the rest I sell because that's almost 2s each, a bigger profit than mithril ore/leather you often get.

I would point out salvaging heavy armor is still a good idea because of Orichalcum Ore. Even using a basic-quality kit I frequently get them and Ancient Wood Logs from weapons and heavy armor. Medium? Yeah, that's trash. Maybe ones that salvage to T4 are still worth it(karma-flip Crabgrabber Gloves and MF them if you really want that), but T5 is junk, even getting Hard Leather is barely worth it.

[Deleted]

The chance of orichalcum ore is very low, and I've tried it very often, in many cases you could have sold your armor for a bigger profit. Or you must be luckier than I am, but I don't get every 3 pieces ori ore. I even get ori ore from whites, so I usually salvage those and blues, but I sell the greens in most cases.

[carnifex2005]

My go to "Legendaries are too hard to get" pic...



And congrats Silverbleed!

[Deleted]

Lol.

Legendaries don't really scream 'hard to get' or 'easy' to me.
It says to me either 'I'm a regular player' or 'I'm rich, or just horrible with my priorities what I should spend money on'.
If someone crafted it, there's no other way than playing regular or throwing in that creditcard.

[Deleted]

I don't think I'm ever getting a legendary.

[LilSaihah]

I went from 120 to 700g by doing a selloff of two months' worth of ascended materials.