Gaia Economy Project

[Ryaoran]

Thank you for your efforts to correct the inflation!

I don't understand why we would need to be able to convert back and forth between gold and the new currency. If you implement the new currency with an equal exchange rate, how would anyone lose currency? I think you should just convert gold across gaia to the new currency and then all earned gold from that point forward will be adjusted accordingly with the algorithm.

Name suggestions:
1. relevant acronym such as SAC (self adjusting currency), AC (adaptive currency), etc
2. platinum

[Diumon]

Hown about 'gg', as in Gaia gold? It's simple and easy, similar enough to be associated with non-premium currency, while still being different to just "gold"

[KerryeeKerryee]

I'm for this. Right now, it feels impossible to make money without spending RL money to get Cash Shop items to resell them. Honestly, this can't make the whole thing worse. And I love that it'll auto-adjust to MP prices, so people can't try to price hike items because people are earning more.

I second Grunny Bucks!

[HighClass Badass]

Cherie-chan

I appreciate so much that you all are attempting to combat this major problem!
It has certainly taken long enough....
It really means a lot to me, and I am sure many others, that you are taking the time to care for us and listen to our problems with the site that we have had for so long. I mean, you even managed to bring back zOMG!
That certainly took a long time, as well.....
But thank you for putting forth the effort into making this site enjoyable again!
It's about time.....

That's a lovely bit of backhanded praise you got going there, it's almost as if it takes time for new changes to take affect, and make :V Especially when you're coming back to a partially burned down building .

[Okami Tenrou]

I still think the "Flynn's Plunder Method" of removing huge chunks of gold through highly limited rereleases of rare items would be a better way of solving the gold issue, especially since they usually appeal to the wealthier Gaia users who tend to have more gold hidden away. What we need right now is just a sink to drain out excessive gold and to reduce the gold imbalance going on here.

Forgive my skepticism since I'm not an economist, this is just my opinion from playing lots of MMORPG over the years.

[shaphat]

oh, I'm interested. I hope it works

I suggest, Gcoins

[ManicMeow]

Lanzer

Gaia is a community with many game like qualities, including a virtual economy where all Gaians get to earn gold for participating in activities. Our goal is to encourage all Gaians to participate in the community, and be rewarded while doing so.

Although this idea has an inherent problem, where unlike a real economy where money is earned form other businesses or individuals, on Gaia, most money is earned directly from the system, which adds more currency to the economy everyday. This increase of currency in the economy causes inflation year after year. On top of that, starting 2014 there were items named Gold Generators which grated a huge sum of gold into the economy, causing a massive surge on inflation. All Gaians who have been with us will know these aspects far too well.

The Problem

With inflation at such a high rate, it became harder and harder to earn the amount of gold it takes to buy items off the marketplace. Earning gold on Gaia to afford items in the marketplace became more of a remote challenge than a goal.

The New Gold Granting System

Our most important goal at Gaia is to restore the ability for all Gaians to be able to afford items in the marketplace. To do that, we will need to re-write all the ways which gold are granted throughout Gaia.

The new system starts with algorithms to monitor marketplace prices, and determine what is a fair amount of gold required to purchase items in the marketplace. Then having the amount of gold as a target, we can adjust gold granting across all features on Gaia to meet that goal. Essentially, gold granting from this point forward will self adjust according to marketplace prices to ensure that all Gaians can afford to buy items by earning gold through whatever features they please. Whether it’s posting in forums, voting in arenas, or playing games, getting a fair gold reward should be part of the fun.

The New Currency Setting

While marketplace items begin to become affordable, the current gold currency is hyper inflated, and counting so many zeros is a chore. Gaia will have a new currency setting to deal with this issue. At anytime, Gaians can switch back and forth between Gold, and the new currency. This way no one will lose any currency, and still be able to benefit from having a smaller, more friendly currency moving forward.

Lastly, the gold granting system will be tied to the new currency, so be sure to switch to the new currency to take advantage of bigger and better gold granting when the feature is released.

We have yet to name the new currency, and we welcome any suggestions! Please let us know what you think of the system, and what you would like the new currency to be!

Just take out some of the not needed 0's really the same thing ....with less 0's super simple

[xukshia]

I'm terribly skeptical about this new currency.
In the past Gaia already tried to fix inflation but it never worked out.

[not this book]

Lied vom Tod

not this book

Lied vom Tod

Somehow I feel like if topic voting was on for this, this would get down-voted so quickly. Ages ago I made a thread here in Site Feedback suggesting a new currency to switch over to and pretty much everyone HATED the idea.

People here want lower prices on items but they don't want to do anything to get to that point. You tried lowering the gold in Lake Kindred (that thing that keeps generating massive amounts of gold) and people were raging over this when it happened. I thought it was good though. Games shouldn't be churning out so much gold if people actually want prices to go down.

I really don't think most people want anything to change on Gaia even if they say otherwise.

oh god I remember this and was pretty active in the forums when it happened. I couldn't believe how people had basically mob mentality when talking about how much they hated the whole thing for lake kindred being nerfed. I felt like barely anyone understood that it was done because of how much it was churning out. I mean, if you look at the numbers the average lake kindred farmer makes 500b to 800b in a single day if they spend several hours doing it (and this is according to several people I spoke to that recorded these numbers back before the changes). Casual players could make 100-200b in an hour or so of grinding. Even using the 100b number, assuming 100 people play each day and earn this that's still like 10tril being pooled into the economy. Think of how much it'd be daily if you also factor in the people that grind for 4-5 hours each day back then. It's mind boggling!!!

And yet everyone was like "I cry oh no pls don't nerf it's not the main source of inflation your gcash is!!" and then they'd whine and moan and complain when Lanzer made a note that the lake kindred was a huge cause of inflation and that gcash wasn't as big of a factor lmao.

Honestly, are they even still making gold generators? I feel like I haven't seen announcements for any in ages. Because if they aren't still selling them, then the only way Gaia Cash could possibly be causing inflation is if people make poor choices and spend their GC in the marketplace instead of buying items from the cash shops and selling those in the marketplace for gold to buy the items they want.

But assuming most people aren't dumb enough to do that, then Gaia Cash is probably helping Gaia because people are actually buying and then selling the items everyone wants. emotion_facepalm

Lol yup. I am pretty sure like 90% or more of the items we see today on avatars were purchased first with real cash, or via gcash earned through promotions and stuff (ad watching, surveys etc). People keep bitching about gaia putting out items for gcash, but when you think about it, selling them for gcash allows the artists to invest more time into making the items look great/premium. Selling them for gold on the site doesn't pay gaia's overhead or workers, afterall, so I can understand their focus on the cash shop, and obviously people are fine buying them because we have hundreds of thousands of items, maybe millions? out there right now strictly from the gcash shops lol.

[lGl God Of Sithayans lDl]

Fix
the wait for the ticket system and gold and tickets will continuously flow faster. With the wait people just holding tickets which is like holding money.

[n i n i - s w a n]

I still don't know what to think about that
But something has to be done,
I hope you'll be able to fix this problem.
I came back recently and I miss the community, the events
Now everything is about La Victoire and GC
yum_cupcake

[10k10k 2]

I'm just so happy you're trying SOMETHING! I hope it works and I hope it makes Gaia the site it used to be <3 Welcome back Lanzer.

[vanelloqe]

wow, this will be very interesting to see play out!

i also like Mythril as a name, it definitely sounds very gaia-related to me

[akiflower]

this is a good idea. The economy needs to be fixed