Instant buying with Gcash in the marketplace

[Unveiling]

La Cantarella

Yeah I had to look at his name again to make sure he wasn't a Mod. Lol. No problem! =)

[Phantasmai]

Bitway

My problem with it is no matter how you look at it it's still pumping new, unwanted gold into the economy. If we were actually RECEIVING cash from others for our listed items instead of gold it would be miles better.

This is exactly what I'm thinking. It is now giving us a direct GC to gold conversion, and anyone and everyone can just buy GC, go to the marketplace, and pump gold into the economy from buying things with it. IT is not making gold more scarce, it is adding more to the economy, and it's going to just keep bloating.

Mind you I'm not an economist by any means, most of what I know about economy I learned here anyway. But I still see no perk to this aside from giving us that direct worth of GC now.

[Unveiling]

Phantasmai

Honestly the only ones winning is the Staff at Gaia. People will spend more money on Gaia Cash now to buy items from the Market instead of spending gold. Gold will become more worthless so more and more Gaia Cash will be bought to compensate. All us Gaians lose again and it is a faster lose then ever.

[Pugnacious Banana]

Myrielle

Myrielle

Just thought of this.

If I were to buy a 499 GC item from the CS, got bored of it, then I sell it for like 249,500,000,000 gold. If I use the 500M:1 ratio, Gaia would set it at 499GC as well.

If someone comes along and buys it for GC, I would get the generated gold 237,025,000,000 and Gaia gets 499GC.

In the end, Gaia would have earned 998GC for that single item. And if that item gets bought and sold, it will earn Gaia 499GC (more or less) each time it does. In effect, it's like a potentially continuously earning item. Also, it will continue to create billions of gold each time this option is taken.

And since new gold is generated, inflation gets worse. This could make people start selling the item for 300B, 400B, and every time the GC option is chosen, Gaia gets more GC for it and more gold is generated.

It can be a perpetual gold and GC faucet.

it's not really that they're getting an extra 499 gc for the same item though.
they're getting the 499 gc for the 237,025,000,000 gold.
it's like someone buying a 499 gc gold generator and getting that amount.
except now it isn't a random amount and they don't have to have someone come up with artwork/names/etc for a gold generator item.

[Serif]

Myrielle

Just thought of this.

If I were to buy a 499 GC item from the CS, got bored of it, then I sell it for like 249,500,000,000 gold. If I use the 500M:1 ratio, Gaia would set it at 499GC as well.

If someone comes along and buys it for GC, I would get the generated gold 237,025,000,000 and Gaia gets 499GC.

In the end, Gaia would have earned 998GC for that single item. And if that item gets bought and sold, it will earn Gaia 499GC (more or less) each time it does. In effect, it's like a potentially continuously earning item. Also, it will continue to create billions of gold each time this option is taken.

And since new gold is generated, inflation gets worse. This could make people start selling the item for 300B, 400B, and every time the GC option is chosen, Gaia gets more GC for it and more gold is generated.

It can be a perpetual gold and GC faucet.

It's 50m to 1 x: I just priced an item at the amount you stated and it was well over 7.8k GC
I don't think the conversion rate would ever go that high, but we've yet to see.

People can price items higher, but would the users buy those items for that amount? With the GC amount also pretty outrageous and that rate of gold so astronomical, I can't really see that becoming a thing because it benefits nobody in the end. Very few Gaians would be able to afford it.

I'm still thinking this has good potential, and now the GGs are out of the shop too. It's a test period. I see no reason to blow up over an attempt to help our economy (Not directed at you, Myr <3 just adding this in general). The idea has potential and I think we need to sit back for a bit and let things cool off and see how it works. Give it a chance, y'know?

Worst case scenario, they pull the plug. Best case, it helps. Everyone wants the gold gens gone, and if this is the closest we can get, I welcome the challenge.

[Sand Dancer Shaka]

Unveiling

Sand Dancer Shaka

In all honest it wont stabilize it at all. Think about it like this. The old way, you buy something with Gaia Gold and the user gets 95% of what you spent on said item straight from your pocket so to speak. This way, a user can use Gaia Cash to buy an item, while the seller gets gold, where does that gold come from? It comes out of thin air. It is just throwing more gold into the economy then what was already there. Doing that will make gold even more worthless. They also now made everything on Gaia purchasable by Gaia Cash so that means more people will spend even more money to get Gaia Cash to buy items, so they bring in even more money.

No I fully understand that its a generator in another firm, but there are other factors that come into play here.

Why would a user pay GC outright for an item if its charged way above user GC to gold ratio? They wouldn't. People would just buy from cash shop and then convert to gold via MP as always, and get the item for less GC overall.

The only time that a user would want to buy from MP with GC outright is if the GC is easier to get than gold. So gold has to be hugely inflated in comparison to the GC. Current 1gc=50M does not favour gaia, and I don't see gold gen CIs being a thing of the past at current.

Hence see where it goes before judging. We don't know how staff will modulate the ratio yet, whether users will be unsavvy with their GC yet.

Inflation by the MP GC purchase can only happen if users first list it, then users then buy into it. It can actually stabilise it if GC conversion is unfavourable, it'll inflate it if GC coversion is favourable. We cannot tell yet which it will do.

[Phantasmai]

Unveiling

Phantasmai

Honestly the only ones winning is the Staff at Gaia. People will spend more money on Gaia Cash now to buy items from the Market instead of spending gold. Gold will become more worthless so more and more Gaia Cash will be bought to compensate. All us Gaians lose again and it is a faster lose then ever.

Right? At this point just give us a damn conversion chart for GC to gold, who needs to flop around items to do it now. Because in the end, yeah, the only thing this does is make more people buy GC, and more people flood gold into seller's hands with it.

[Unveiling]

Sand Dancer Shaka

Because people would rather keep their gold when they were going to spend the Gaia Cash anyways. I know people that drop like $2,000 a month on here, they don't care honestly. But also, why bother wasting the time to buy an item from the Cash shop, when you can just buy it straight from the Market, why bother taking an extra step? Plus you lose more gold. If you buy an item from the Cash shop then sell it you lose 5% of the gold you listed it for so buying straight from the Market saves you that 5% and time.

It wont be a good thing, people get that free Gaia cash all the time so why not use it on an item you wanted from the Market? So when there is nothing in the shop you want, yet the item you always wanted is now in the Market and all that free cash you have can buy it, you buy it and don't care about the Gold that is made from that. People will be doing that more and more, if it is easier they will do it, people want stuff that is simple and easy, they do not wish to take other steps, and do you blame them for that?

[Myrielle]

Pugnacious Banana

it's not really that they're getting an extra 499 gc for the same item though.
they're getting the 499 gc for the 237,025,000,000 gold.
it's like someone buying a 499 gc gold generator and getting that amount.
except now it isn't a random amount and they don't have to have someone come up with artwork/names/etc for a gold generator item.

My thought is that every time the same item exchanges hands via GC in the MP, Gaia gets X amount of GC and creating Y amount of new gold. Every time this process is repeated, Gaia gets more GC.

Laserif

It's 50m to 1 x: I just priced an item at the amount you stated and it was well over 7.8k GC
I don't think the conversion rate would ever go that high, but we've yet to see.

People can price items higher, but would the users buy those items for that amount? With the GC amount also pretty outrageous and that rate of gold so astronomical, I can't really see that becoming a thing because it benefits nobody in the end. Very few Gaians would be able to afford it.

I'm still thinking this has good potential, and now the GGs are out of the shop too. It's a test period. I see no reason to blow up over an attempt to help our economy (Not directed at you, Myr <3 just adding this in general). The idea has potential and I think we need to sit back for a bit and let things cool off and see how it works. Give it a chance, y'know?

Worst case scenario, they pull the plug. Best case, it helps. Everyone wants the gold gens gone, and if this is the closest we can get, I welcome the challenge.

I was using that ratio as a hypothetical. They did say it was still up in the air what the final value is going to be. Right now is 50M:1, the one in the announcement (lol) is 1T:1. I pulled 500M:1 out of my a** purely as an example.


If you had a Sapphire ticket you'd want to sell, how much would you price it in the MP for it to be fair to you? Remember: Gaia attempted to sell that item for $20k US.

I'm curious what would be the short and long term effects on the economy. For one thing, they are presenting an actual conversion of GC to GG. The GC/GG ratio of 1:60 of the gold shop is largely ignored.

[Unveiling]

Phantasmai

Most people do not seem to understand that either. It throws more gold, just make it a straight trade, Gaia Cash for Gold instead of doing it through an item. People will be dropping Gaia Cash into the Market left and right instead of the Cash shop now because it cuts out the middle man of having to sell an item for gold for the item you wanted. Just go buy it with Gaia Cash now!

[Avalei]

This is turning every item into a possible gold generator. Instead of gold swapping owners with the tax taken out you are just pumping more gold into the system when you buy with the Gaia cash. The buyer of the item is buying gold with cash for the seller. Making the item a static ratio gold generator. How in any way will this help inflation?

[Little Dead Soldier]

Im actually a little confused by it, so if anyone can please explain, Ill be very thankful.
So, if someone buys the item for cash in the MP, does the seller get gold or cash from exchange? If its gold, does it still get taxed? Is the gold still being sinked and will this actually stable gold prices in the MP?

[Pugnacious Banana]

Little Dead Soldier

Im actually a little confused by it, so if anyone can please explain, Ill be very thankful.
So, if someone buys the item for cash in the MP, does the seller get gold or cash from exchange? If its gold, does it still get taxed? Is the gold still being sinked and will this actually stable gold prices in the MP?

the seller gets the amount of gold they listed, minus the 5% tax.
the gold they sold their item for gets 'generated' since the buyer paid with cash.
so no gold is disappearing from anywhere, the 5% tax gold never existed in the first place.