Gaia's economy has gone to....

[Majni]

TlRA MlSU

I don't consider gaia that fun anymore. I just use it to kill time, and talk to some friends. People have many reasons for sticking around, but because of these changes a lot of people are quitting as well. I don't want gaia to be the way it was in the past, I just want to enjoy myself here without feeling like Gaia wants to eat my wallet on a daily basis.

Me too, I've a set income and well i can't buy things with Gcash so I've got to scrape, pitch and pawn my items in order to get the cool items coming out theses days.

I know gaia is a business but come on people...have some consideration for the low of gold or money.

[glazed strawberry]

Chibi Halo

It's not the fault of Club Verge but rather the fault of Flynn's Booty. Too much gold into the system has devalued it to the point where it takes more of it to buy something now. And with the average user gaining too much gold overnight they've gone on a buying spree, which pretty much guarantees that prices are going to be higher until all that gold is out of the system.

We're becoming the Zimbabwe of the internet.

is there a like button for the zimbabwe quote?

[Chibi Halo]

glazed strawberry

Chibi Halo

It's not the fault of Club Verge but rather the fault of Flynn's Booty. Too much gold into the system has devalued it to the point where it takes more of it to buy something now. And with the average user gaining too much gold overnight they've gone on a buying spree, which pretty much guarantees that prices are going to be higher until all that gold is out of the system.

We're becoming the Zimbabwe of the internet.

is there a like button for the zimbabwe quote?

I have to commend you for understanding the whole Zimbabwe reference. I don't really see too many people who understand that situation.

I mean dang first they released a ten million ZWD note to combat the 100,000 percent inflation (lesson number one Gaia you do not combat inflation with more gold). Then hyperinflation set in because of the civil war in the country so what do they do stop filing official reports on their inflationary status (lesson number two Gaia you don't hide or try to sugarcoat how the site economy is going). It's estimated at its worst the inflation got to 6.5 sextillion percent in mid-November 2008. To combat the hyperinflation the Zimbabwe dollar was redenominated by removing 10 zeroes and ZWD 10 billion became 1 dollar after the redenomination. That's how worthless their money had become. It took ten billion ZWD to do the job of one single ZWD (lesson number three Gaia do not redenominate your gold as it will lead to more problems). The economy is in the drink and the government is pretty near on broke so how do they fund themselves? On 16 January 2009, Zimbabwe issued a ZWD100 trillion bill (lesson number four Gaia do not try and correct your mistakes by repeating your mistakes). So what's the result of all of that self caused hyperinflation? A roll of toilet paper in Zimbabwe costs $145,750, which is about 69 American cents.

So the bottom line in all of this is no matter how much real world dollars Gaia might be making on the sale of Flynn's Booty the constant re-release of the item is doing nothing but to devalue the buying power of gold and send the economy into near on hyperinflation.

[Yukitsu]

I just wanna make avs :/ but I feel like I'll never be able to afford new items anymore because everything's prices have skyrocketed to unrecoverable amounts. I don't think any gold sink, of any sort is really ever going to fix the economy.

It's gotten progressively worse over the years, the inflation... but the constant rereleasing of flynn's booty recently has pretty much crippled the chances of the economy ever truly recovering. There is no gold sink gaia could ever come up with that would alleviate the state of the market.

and yes, on one hand that means that your 'items have more gold worth' but that's only if you're willing to sell your items in order to buy new ones. what if I want to keep what I have, but want to save up for something new? Well, you can't now! Because instead of an item costing 2 mil which might take you a while to save up for but it /was/ doable. Now, said item costs 10 mil and the average non-gc user is going to have to spend a lot more time saving.

also, they nerfed booty grab because it was apparently being detrimental to the economy and causing inflation-- and that's okay, because that was giving away FREE gold. but ruining the economy if it means users will buy gc?? that's fine. that's tooootaaally fine.

I, for one, am extremely disappointed by this turn of events and as a result, will most likely be spending less time on gaia now :/

[wolferonic]

The inflation was caused by Flynns Booty tho.

[ProtectorofGlasses]

Saw my quest item triple in value. Went and checked all my MCs--almost all have tripled, some have quadrupled, from last week. You could probably buy anything today and sell it for more tomorrow.

It doesn't mean anything to make a gold profit off inflation though, when everything else is inflating as well. The gold that is in your account today is worth less tomorrow. The one's who are gettign boned are those who, like the OP, sell an item and then don't immediately stick the gold into another item.

In Germany after WWI, when inflation was bad they let workers out several times a day to spend their money, because the prices rose that fast.

[Chibi Halo]

ProtectorofGlasses

Saw my quest item triple in value. Went and checked all my MCs--almost all have tripled, some have quadrupled, from last week. You could probably buy anything today and sell it for more tomorrow.

It doesn't mean anything to make a gold profit off inflation though, when everything else is inflating as well. The gold that is in your account today is worth less tomorrow. The one's who are gettign boned are those who, like the OP, sell an item and then don't immediately stick the gold into another item.

In Germany after WWI, when inflation was bad they let workers out several times a day to spend their money, because the prices rose that fast.

That's just it. Kenny's heart is in the right place and I commend him for trying with this gold sink we're going to be getting but it will only be a short term situation. Gaia needs untimed long term massive gold sinks that give us something in return. The answer to giving us something to spend on shouldn't be more quick Cash sales. I'll admit I was saying Gaia could use a good sale or two in the Cash Shop but not like this. I was talking reduced prices so more supply could get out there and things could deflate a little.

Gaia now has a laundry list of things that they have to do in order to clean up this mess and get the economy back on a natural path:

1. They need to admit that the gold enconomy on Gaia is totally messed up and that they're looking into LONG TERM ways to balance out things.

2. They need to promise they'll lay off future Flynn's Booty sales for at least a year.

3. They need to space out their flash sales from one or two a week to one or two A MONTH.

4. Their gold shop releases need to be beefier and pricier meaning more items for at least fifty grand or more.

5. Every shop needs a recolor grab bag for gold only including the D*C.

6. Playpen games need a gold paying tournament option for possible Wing Sticker payouts.

There's possibly more but this would be a good start to healing the damage done by Flynn's Booty. People on Gaia feel like they don't have anything to spend their gold on, that's not art; profiles; graphics; and breedables, and it's just causing all the excess gold to sit around rotting away becoming useless. Oh sure Cash items have their appeal but that just transfers gold with a minimum amount taken out. It's not enough. I understand the aim is to make back lost production costs and get people interested in becoming Cash users but that won't do anything if it's at the expense of the gold economy on Gaia. You want Cash users again Gaia then bring back the AutoCash discount. That's the reward, and the honey, needed to bring people back to Cash.

[Majni]

you all make valid and good points, Gaia needs to do something about this.

[GaIvatron]

De Chimera

old sweaters

So you're mad you sold an item that inflated basically overnight? thats how the market works sometimes buddy. thats why if you like something keep it.

No I'm angry that I can't buy another one.
I know the market works like that but it shouldn't jump so much in such a short time,
that's what I'm mad about.
In past years the market never jumped that much.

It does sporadically jump around, though the inflation has certainly gotten out of hand now. I'm thinking that they're going to need to roll out this new gold shop sooner than they expected, because this is going to have to stop eventually. gonk

[Majni]

L0LlTAB0T

It does sporadically jump around, though the inflation has certainly gotten out of hand now. I'm thinking that they're going to need to roll out this new gold shop sooner than they expected, because this is going to have to stop eventually. gonk

What Gaia should do is regulate the market but that's highly unlikely.

[Empress Celene]

Its your fault to sell it when you were considering buying it back later.
Also club verge is not the reason for the inflation it is obviously flynns booty and that it is getting re released.

[Soulfulness]

everybody should shut the ******** up and wait to complain [********] after their gold sink idea sets sail
all these ******** topics of you assholes whining are filling up the GCD and it's annoying, sweet baby jesus

[GaIvatron]

De Chimera

L0LlTAB0T

It does sporadically jump around, though the inflation has certainly gotten out of hand now. I'm thinking that they're going to need to roll out this new gold shop sooner than they expected, because this is going to have to stop eventually. gonk

What Gaia should do is regulate the market but that's highly unlikely.

They actually have it in writing this time that they won't directly manipulate the MP. That gold shop is going to do wonders, as will this contest. Like if 1 in 5 gaians paid the 10K for the item, there'd be a large mass of gold taken out of the system. surprised
This needs to be happening quicker, is my only critique.

[Majni]

L0LlTAB0T

They actually have it in writing this time that they won't directly manipulate the MP. That gold shop is going to do wonders, as will this contest. Like if 1 in 5 gaians paid the 10K for the item, there'd be a large mass of gold taken out of the system. surprised
This needs to be happening quicker, is my only critique.

well we'll see, hopefully it'll help.

[satansrose]

I always knew booty was evil