Rift Patch 2.8 - "Black Wednesday" - Economy Collapse?

[theWocky]

So, people are losing their minds over this on the forums and I did a video on it (it's a sensational topic)

They introduced a spanking new AH User Interface, but forgot to mention a new "feature" - a flat 5% of BUYOUT listing fee..

http://www.youtube.com/watch?v=pL-nwqv_OlA

They later reduced the fee to:

listing fee of 0.75% of buyout price for 12 hours,
listing fee of 2.00% of buyout price for 24 hours,
listing fee of 5.00% of buyout price for 168 hours (1 week)

I think they need to compromise a bit more.

[Edge-]

I don't really see the issue. It cuts down on the ludicrously priced items that get put on the AH and bleeds money out of the economy. Considering the utter lack of plat sinks in the game and the fact that plat has at least some minimal value as a method of getting REX, the economy needed to see some contraction.

But then again I don't bother with the AH very often, so I'm probably biased.

Also, fail to see how this will "collapse" the economy in any way, shape or form. Outside of being a great sensational headline to get views/clicks : D

[Fencers]

It's fine. Everyone has more plat than they know what to do with anyway.

[theWocky]

I don't really see the issue. It cuts down on the ludicrously priced items that get put on the AH and bleeds money out of the economy. Considering the utter lack of plat sinks in the game and the fact that plat has at least some minimal value as a method of getting REX, the economy needed to see some contraction.

But then again I don't bother with the AH very often, so I'm probably biased.

Also, fail to see how this will "collapse" the economy in any way, shape or form. Outside of being a great sensational headline to get views/clicks : D

Yeah - I agree with those sentiments - as I said in the last part of the video.

Yup, I am merely echo'ing the reactions on the forums of at least 50~70% of the people. I don't personally think it will kill the economy. I see a few people are starting getting angry in the comments section of the video too.

In my "parody" section, I tried to convey across with sarcasm the guy selling his "reasonably" priced 4,000 platinum essence.

Fact is... if prices go down, all prices "should" go down. Markets - as long as they are closed - are usually self-adjusting.

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It's fine. Everyone has more plat than they know what to do with anyway.

Ditto - agree

[Duravian]

It's fine. Everyone has more plat than they know what to do with anyway.

Not me. I had 1k once and I spent it all on dimension decorations. Now I'm broke and looking for work.

[Deleted]

As someone that do quite a bit of AH-play, this is such a minor thing, and in the end will likely get some of all the flooded platinum out of the game, or we will simply regulate prices after this change. It gets ridiculous when you have a gazillion *insert video game currency*, so I find this a nice little way to monitor the flow of currency.

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Not me. I had 1k once and I spent it all on dimension decorations. Now I'm broke and looking for work.

Should have invested in gold bars

[Duravian]

I like the sound of this change. The less money people have, the smaller the prices; which means I can maybe finally afford things.

[Deleted]

I like the sound of this change. The less money people have, the smaller the prices; which means I can maybe finally afford things.

Well, to be honest, it really depends on what the big AH investors chose to do. Because they can just as well increase the price, to get the same profit they got before, which means even bigger prices.

[Duravian]

Well, to be honest, it really depends on what the big AH investors chose to do. Because they can just as well increase the price, to get the same profit they got before, which means even bigger prices.

Those slimy bastards!

Edit:
Update on my financial situation... Turns out remaining in a dead guild for months has finally paid off. It seems I've inherited GM status and have an abandoned bank full of goodies all to myself

[Slipmat]

Way too many Gordon Gecko wannabes on the Rift forum at the moment crying into their NY Stock Exchange newspapers, virtual tears over virtual currency, priceless

[theWocky]

Way too many Gordon Gecko wannabes on the Rift forum at the moment crying into their NY Stock Exchange newspapers, virtual tears over virtual currency, priceless

I got to admit - the threats have been funny.

5% was a bit nuts, but the current rate? it will probably do what they want done - reduce inflation.

I think, however, that someone DDOS'ed their forums last night.

I do, however, want a Rift Black Market Auction House.

[Lathais]

So they added a plat sink. I fail to see the problem. I guess people just don't understand having less plat that is worth more is the same exact thing as having a lot of plat worth less. People bitch about what they do not understand and people do not understand basic economics anymore.

[gonterf]

I do, however, want a Rift Black Market Auction House.

A while ago, Daglar did an experiment where he posted some high powered (but soon-to-be-obsolete) items to the AH - obviously the plat spent on these items left the economy. Unfortunately, as with their PvP normalization attempt, the backlash from the community was intense. Trion's fanbase (or at least the hardcore raiding subset thereof) declared a BMAH to be unconscionable, and that makes me sad

[Edge-]

A while ago, Daglar did an experiment where he posted some high powered (but soon-to-be-obsolete) items to the AH - obviously the plat spent on these items left the economy. Unfortunately, as with their PvP normalization attempt, the backlash from the community was intense. Trion's fanbase (or at least the hardcore raiding subset thereof) declared a BMAH to be unconscionable, and that makes me sad

That's for gear, which is understandable. However, having something more akin to the BMAH in WoW that sold some super rare drops from time to time or some cash shop items at very high starting prices with no buyout would definitely help bleed some of the plat out from the mega-wealthy.

[Khelendros]

Yeah - I agree with those sentiments - as I said in the last part of the video.

Yup, I am merely echo'ing the reactions on the forums of at least 50~70% of the people. I don't personally think it will kill the economy. I see a few people are starting getting angry in the comments section of the video too.

In my "parody" section, I tried to convey across with sarcasm the guy selling his "reasonably" priced 4,000 platinum essence.

Fact is... if prices go down, all prices "should" go down. Markets - as long as they are closed - are usually self-adjusting.

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Ditto - agree

Depending on the essence 4k plat may be reasonable.

I sold a dark ice essence (dps one) for almost 3k. But I regularly see them sell for 4-5k. I think thats about right for its rarity.

The main issue is there were better ways to handle this without penalizing people. Someone perpetually broke like me is gonna feel this more on the rare occasions they (I) use the AH.

People talked about using one of the Carnival of the Ascended booths to open a casino where the tickets give you items people would feel it worth gambling plat on. There are a myriad of better ways to have done this. What Trion did was the lazy and unimaginative way. And it will definitely bite them. Just to drive home the issue the thread is about 60 pages now and probably 2 pages of that is people for the change (of which half of those are from Will).

They also need to give artifacts a vendor value more than 1 silver. Thats just dumb.As Wocky suggested if you make it at least somewhat worthwhile to vendor artifacts the 30k item limit on the AH would be less of a potential issue.

Its not sky is falling like some people are making it out to be, but it was a dumb decision on Trion's part. And its telling that some of the community leaders (IE people who went to the community day) are against it.

[Zenotetsuken]

Those slimy bastards!

Edit:
Update on my financial situation... Turns out remaining in a dead guild for months has finally paid off. It seems I've inherited GM status and have an abandoned bank full of goodies all to myself

Everything's coming up Duravian!


Side Note- Trying to find things to do lately, and I was thinking about trying to get back into Rift since my computer can't really handle Wildstar very well and I don't have the funds to replace what needs to be upgraded. Is it worth getting back into at this point? Last time I played was umm... IDK, I think shortly after the expansion was released. I had a hard time getting back into it, but that is most likely due to not being able to find a guild.

[theWocky]

People talked about using one of the Carnival of the Ascended booths to open a casino where the tickets give you items people would feel it worth gambling plat on.

Agree it was a bit harsh to do the 5% and they still need to come down a bit more to compromise.
0.5% for 12 hours
0.75% for 24 hours
3% for a week seems more "ok"

Someone on these forums mentioned once it is illegal to put gambling in a game where the in-game currency can be converted to credits and vice versa - against US laws or something.

Apparently, a different law applies to "luck of the draw" lockboxes, however.

[Syce]

Everything's coming up Duravian!


Side Note- Trying to find things to do lately, and I was thinking about trying to get back into Rift since my computer can't really handle Wildstar very well and I don't have the funds to replace what needs to be upgraded. Is it worth getting back into at this point? Last time I played was umm... IDK, I think shortly after the expansion was released. I had a hard time getting back into it, but that is most likely due to not being able to find a guild.

well if you play on Deepwood. im in a Guild called Reavers which has like 1000 members(the biggest i think in rift right now, but obviously not that many are ever on) but thye pretty much accept anyone so if you are interested look for a guy named beastyman.