Should Gaia split gold into denominations?

[Ezuka]

Madam Ace

Ezuka

Madam Ace

Ezuka

Madam Ace

No, that would make things unnecessarily complicated.

It's not like real life where we actually have to physically carry our currency, thus denominations are not needed. What we have currently is fine as is. We just need to update some interfaces like the trades so they can hold more digits though.

Sure, the physicality of coins is part of the reason we have paper currencies in higher denominations, but if physicality were the only issue, we'd be doing transactions using cents as the representation of the worth.

When I buy a soda, the cashier doesn't say, "that'll be one hundred cents."

Having one representation of worth is the best for a forum/game site. The value is simply x amount of gold. Having to convert things into different denominations would be nightmareish in doing trades and exchanges. And in the end it doesn't matter because you'll default back to gold being the unit as "1".

Systems tend to gravitate towards simplicity. Back long time ago, there used to be the "half penny" but was discontinued to being worth to little, having almost no buying power and simply is just a nuisance. There's even debate right now over discontinuing the penny for the same reasons. (which I'm all for)

You might have noticed that I said, "cents" rather than pennies. We also have denominations in our paper currency.

Simplicity is great; I'm all for it, but dealing with trillions is not simple.
The issue of converting is denominations moot because the math behind it is very simple, and the amount and value of gold would change in no way.

If you're incapable of removing or adding two zeroes to adjust denominations, then we get back to my point where this could easily be an optional feature.

Not only that, but people adjust. A bit of confusion would certainly arise in the beginning, but just like users have gotten used to saying "1 billion gold," users could get used to saying, "10 million mythrill."

The trillions issue is more of an inflation problem than a currency problem. That and raising the gold cap to the quadrillions.

The way I see if we were to implement a new currency it would go something like this in the long term:
If we were to implement the Mythrill system like you proposed, gold would soon fade out in obscurity due to inflation, everyone uses Mythill to do transactions, people will get mad at all the functions of the site (posting, daily chance) giving out gold, which are like pennies at this point instead of Mythrill so devs do a massive overhaul to change it. Gold gets discontinued, Mythrill is now new official currency. All that work and we're back to square one. Except maybe a few less zeros. But inflation still exists so that problem will arise again.

May be a little exaggerated but basically, too much work for a problem that could be fixed in other ways.

The trillions problem is certainly an inflation issue, but fixing inflation sort of works against Gaia's profitable ideals. F

A simpler solution, then, would be to let the 1b mythrill coins work as a sort of pseudo-currency. Keep them an item, but let them show at the top next to gold, and allow them to be be used in the MP, stores, and trades like gold is. With them being worth 1b and an optional-use item, then gold would remain the most relevant currency.

[Madam Ace]

Ezuka

Madam Ace

Ezuka

Madam Ace

Ezuka

Madam Ace

No, that would make things unnecessarily complicated.

It's not like real life where we actually have to physically carry our currency, thus denominations are not needed. What we have currently is fine as is. We just need to update some interfaces like the trades so they can hold more digits though.

Sure, the physicality of coins is part of the reason we have paper currencies in higher denominations, but if physicality were the only issue, we'd be doing transactions using cents as the representation of the worth.

When I buy a soda, the cashier doesn't say, "that'll be one hundred cents."

Having one representation of worth is the best for a forum/game site. The value is simply x amount of gold. Having to convert things into different denominations would be nightmareish in doing trades and exchanges. And in the end it doesn't matter because you'll default back to gold being the unit as "1".

Systems tend to gravitate towards simplicity. Back long time ago, there used to be the "half penny" but was discontinued to being worth to little, having almost no buying power and simply is just a nuisance. There's even debate right now over discontinuing the penny for the same reasons. (which I'm all for)

You might have noticed that I said, "cents" rather than pennies. We also have denominations in our paper currency.

Simplicity is great; I'm all for it, but dealing with trillions is not simple.
The issue of converting is denominations moot because the math behind it is very simple, and the amount and value of gold would change in no way.

If you're incapable of removing or adding two zeroes to adjust denominations, then we get back to my point where this could easily be an optional feature.

Not only that, but people adjust. A bit of confusion would certainly arise in the beginning, but just like users have gotten used to saying "1 billion gold," users could get used to saying, "10 million mythrill."

The trillions issue is more of an inflation problem than a currency problem. That and raising the gold cap to the quadrillions.

The way I see if we were to implement a new currency it would go something like this in the long term:
If we were to implement the Mythrill system like you proposed, gold would soon fade out in obscurity due to inflation, everyone uses Mythill to do transactions, people will get mad at all the functions of the site (posting, daily chance) giving out gold, which are like pennies at this point instead of Mythrill so devs do a massive overhaul to change it. Gold gets discontinued, Mythrill is now new official currency. All that work and we're back to square one. Except maybe a few less zeros. But inflation still exists so that problem will arise again.

May be a little exaggerated but basically, too much work for a problem that could be fixed in other ways.

The trillions problem is certainly an inflation issue, but fixing inflation sort of works against Gaia's profitable ideals. F

A simpler solution, then, would be to let the 1b mythrill coins work as a sort of pseudo-currency. Keep them an item, but let them show at the top next to gold, and allow them to be be used in the MP, stores, and trades like gold is. With them being worth 1b and an optional-use item, then gold would remain the most relevant currency.

Now that is something that I'd like to see.
It would be nice too have them be purchasable in someplace easily accessible instead of having to click back to Barton Boutique anytime I wanted some Mythrill.
Oh and having the coins stack too, would be nice. I'd be able to see how many I have at a glance when I'm doing trades.

Plus this idea builds on what we already have.

[Shiarka Jonless]

We already have multiple currencies. Mind you, I count some of our game items as currency, such as wing stickers and GoFusion charms.

[Ichigo Arerugi]

I wouldn't know on the 100bil thing though.

[BunnyEXE]

Works wonders for MMORPG's but I am afraid it wouldn't work out so well on a Avatar Site.

[Awww Applesauce]

I feel like that would get pretty confusing. I also think that it would probably inflate items more, because of that confusion. :/

[soaked fingers]

We need a devalue not an increment application.
I'm sure it seemingly makes sense to cut it down into parts, but speaking from the perspective as an exchanger, it's far more tedious to memorize multi-forms of currency to value items in trade.
In the aspect it's applying more than 1 set general currency value to a single item face. It seems practical for a couple said items, bu then it becomes extremely tedious for the many. Then you have to go through the degrading of the new currency in time (because gaia will not just simply stop release currency generators. It's easily their cash cow).

The current said currency needs to get cut and dropped and low-end items revalued. Which takes an extraneous amount of time. And I would hardly think gaia's said understaffed list can handle such an endeavor without many volunteers.

As nice as it would be it seems distant. We could only hope gaia does develop something in due time though, because this is now far out of hand.

[Myrielle]

Someone buy my new shirt. It only costs 11 platinum, 22 mythrill, 4535 gold, 153333 silver, 19 bronze, and 6 coppers. It's a bargain!

[Sagebomb]

Ezuka

I think the problem with that is dropping the zeroes would actually change the value of gold and remove gold from users' accounts. Sure, comparatively they'd have the same amount of gold, but it's still a change to how much users have.

If I ended up with 1 mythrill after this change, I'd still have 100 billion gold. Let's say Gaia decided to remove two zeroes with the "new" gold change.

Suddenly 100 gold = 1 gold. The buying power may be technically the same, but it's still a reduction in the amount. The value might be higher, but the reduction is still there.

But with denominations, 1 mythrill is 100 gold. Gold does not leave or change. 100 gold still equals 100 gold, but it also equals 1 mythrill, and also 10,000 silver.

Dropping zeros has worked for actually markets, denomations wouldnt be much different than just using coins, or tickets or other different items, since at the end of the day currency itself needs to be a fluid changeable thing to work, so to add in different kinds of currency creates more complexity and does nothing to really address any issues.

With adjusting ratios, you actually create more value for the currency. Whilst you dont change anythings relative worth, it does limit how much gold there is in the system comparitivly meaning there is less gold to move around. Thus it gives more of a economic stabalising effect (again check with currency markets). The only thing is, once you do it, you need to stop creating tonnes of new currency and pumping that into the market or the same thing happens again....

[Ezuka]

Myrielle

Someone buy my new shirt. It only costs 11 platinum, 22 mythrill, 4535 gold, 153333 silver, 19 bronze, and 6 coppers. It's a bargain!

You would never have more than 100 of any denominations except for the highest, so your hyperbole isn't so great.
But yes, something like that can be an issue if there are too many denominations of a currency.

[stampededentist]

No.


Why bother if they're just going to keep jacking up the max payouts, keep releasing gold gens, and keep saying that everything is fine?

Eventually we'll be working with trillions of gold coins again, quadrillions of silver coins, quintillions of copper coins.

While a clever idea, it's a very temporary.. well, not really a "fix".. but a temporary improvement.
It will be pointless and even more confusing in a few months when the copper coins aren't worth farting on.

[ThanatosRising]

I'm exceptionally bad at math and this always confused me in WoW so I don't think I'd manage very well if they implemented it here emo

[Spooky]

It would confuse the hell out of me if this did happen.
So I hope it doesn't.
I'm fine with just gold & Gaia Cash.