i think i'm de only dumb one.. i used my excess cash and got the festival tickets instead... and stored it inside a charc =/
each charc can hold about 45 slots and 100k = 270k ...
i guess... i need to find other ways of storing hmm..
The Lockpick Revolution Begins!
Firestone
Shmanka
... the day it takes lockpicks to craft FoW, is a horrible day for mankind.
I just don't like the idea, it seems great on paper, but there are 3 things that come to mind.
It is completely stable in its current form- The price cannot go up or down or fluctuate normally like other current rare materials.
It is not used for any elite purpose other then getting titles for your chest/identify/lucky/unlucky.
They are easy to find... look at the merchant, there is no supply or demand they are always accessible.
It's like the gold mining ages, the currency of gold can influence alot on the dollar today. It's like asking all of North America to replace the stock market value of gold for pepsi cans. We all have whatever pop we want, at almost any location. No point.
I just don't like the idea, it seems great on paper, but there are 3 things that come to mind.
It is completely stable in its current form- The price cannot go up or down or fluctuate normally like other current rare materials.
It is not used for any elite purpose other then getting titles for your chest/identify/lucky/unlucky.
They are easy to find... look at the merchant, there is no supply or demand they are always accessible.
It's like the gold mining ages, the currency of gold can influence alot on the dollar today. It's like asking all of North America to replace the stock market value of gold for pepsi cans. We all have whatever pop we want, at almost any location. No point.
Dougal Kronik
It's stable method of trading that doesn't rely on supply and demand.
It cannot be artificailly inflated or devalued.
I support making the trading value at 1.2k.
I'm going to encourage my alliance to start using Lockpicks as currency.
It cannot be artificailly inflated or devalued.
I support making the trading value at 1.2k.
I'm going to encourage my alliance to start using Lockpicks as currency.
Evilsod
Lol, its an intrueging idea. And tbh its alot more useful in a direct exchange. I guess the value of Lockpicks would be fixed at 1300, the almost constant going rate of Lockpicks from people selling em from Discount merchants. I would definatly prefer to trade an Elite tome for 13 Lockpicks or something instead of messing around selling it for cash then searching for a Lockpick seller.
Now... if only i could find someone on my F-list who was in a holding alliance so i could get em for 1200.
Now... if only i could find someone on my F-list who was in a holding alliance so i could get em for 1200.
Qarl
Quote:
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Originally Posted by Miral
here's a better idea... anet changes the code to allow carrying more than 100k. *hint hint nudge nudge*
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Bryant Again
Quote:
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Originally Posted by Shmanka
It is completely stable in its current form- The price cannot go up or down or fluctuate normally like other current rare materials.
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Quote:
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Originally Posted by Shmanka
It is not used for any elite purpose other then getting titles for your chest/identify/lucky/unlucky.
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Quote:
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Originally Posted by Shmanka
They are easy to find... look at the merchant, there is no supply or demand they are always accessible.
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Quote:
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Originally Posted by Shmanka
It's like the gold mining ages, the currency of gold can influence alot on the dollar today. It's like asking all of North America to replace the stock market value of gold for pepsi cans. We all have whatever pop we want, at almost any location. No point.
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Anyways, the point is that the ecto is an unreliable amount of currency. The prices of them are changing - sometimes drastically - nearly every week. What this causes is nothing short of screwing people.
Here's an example: Persona A is selling an item with 100k +75 ectos. Normally it'd be 50 ectos but the price of ectos has dropped to 6.5k. Person B pays 100k +75 ectos for item. Then holy bajeesus ecto price jump: they're now worth 10k ea. Person A just made a lot of money. Person A - laughs. Person B - cries.
MagicWarrior
This is a great idea. At least if you don't feel like spamming WTS... you can always merch it or go out and use the lockpick.
Mammoth
I'm all for it if it's 1.2K, sounds nice and stable, and nobody will really be able to profit from it over anybody else, unless buyers actively offer 1300 each~
Sir Skullcrasher
Wonder if the price of lockpicks will go to 2k or even 3k?
Krispy
Quote:
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Originally Posted by Sir Skullcrasher
Wonder if the price of lockpicks will go to 2k or even 3k?
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If you want to buy them at 2 or 3k ea, let me know. I'd be glad to sell them to you.
TedTheDead
I like the idea of currency having a static value, however to most people they are not worth what is being proposed. I personally would not buy a lockpick for 1500 to have it worth 1200 in trade, trading in ecto is already a decent loss to your gold count.
For example, most people exchange in Ecto for Trader-1k. Last time I looked Ecto was 7k. Trading based on ecto means that your gold is worth 6,000/7,000 =~ 85% of a coin per trade, thus you lose around 15% of you gold converting it to ectos for exchanges.
If you do the same with a lockpick, for "most" players, it will cost 1500 gold to yeild 1200 of value, thus your gold is being exchanged to 1200/1500 = 80% of a coin per trade, or a 20% loss per coin converted to lockpicks.
Thats a pretty hefty tax above ecto. Ecto would have to drop to 5k with the current Trader-1k system to lose its advantage in value, unstable or not. Ecto may keep dropping but I do not think it will drop that low.
Just my 2 cents.
For example, most people exchange in Ecto for Trader-1k. Last time I looked Ecto was 7k. Trading based on ecto means that your gold is worth 6,000/7,000 =~ 85% of a coin per trade, thus you lose around 15% of you gold converting it to ectos for exchanges.
If you do the same with a lockpick, for "most" players, it will cost 1500 gold to yeild 1200 of value, thus your gold is being exchanged to 1200/1500 = 80% of a coin per trade, or a 20% loss per coin converted to lockpicks.
Thats a pretty hefty tax above ecto. Ecto would have to drop to 5k with the current Trader-1k system to lose its advantage in value, unstable or not. Ecto may keep dropping but I do not think it will drop that low.
Just my 2 cents.
Robin_Anadri
Why would the price of lockpicks stabilize at 1.2k? Sure, that's the price alliances controlling towns can buy them, but where's their incentive to sell them at cost? The goodness of their hearts?
I would suspect the price would stabilize 1200 < x < 1300. Right now, there are plenty of folks selling lockpicks purchased from discount merchants for 1300, but if this lockpick as currency thing takes off, both the demand and supply will increase such that the price will be pushed down below 1300. How far below, I don't know. What's the threshold of profit for somebody to be willing to buy the lockpicks from the merchant and stand around trying to sell them? 75 gold each? 50 gold each? 10? I doubt it gets lower than 10, hell, I doubt it gets lower than 50. At some point there it's not worth their time, when they could be doing Lutgardis FFF or AB or Wa/Rt runs.
I would suspect the price would stabilize 1200 < x < 1300. Right now, there are plenty of folks selling lockpicks purchased from discount merchants for 1300, but if this lockpick as currency thing takes off, both the demand and supply will increase such that the price will be pushed down below 1300. How far below, I don't know. What's the threshold of profit for somebody to be willing to buy the lockpicks from the merchant and stand around trying to sell them? 75 gold each? 50 gold each? 10? I doubt it gets lower than 10, hell, I doubt it gets lower than 50. At some point there it's not worth their time, when they could be doing Lutgardis FFF or AB or Wa/Rt runs.
Thunder79
I wish Anet would allow us to put stacks of gold into our inventory so that we can trade gold only instead of other high priced items. Or like someone said...money tokens we can buy that have a fixed value...like coins or paper money in the real world (yes I'm ignoring exchange rates).
or just let us trade more than just 100k in gold in one trade...and store more in our storage...
I don't know about Lockpicks...I haven't decided whether they are a good idea or not.
or just let us trade more than just 100k in gold in one trade...and store more in our storage...
I don't know about Lockpicks...I haven't decided whether they are a good idea or not.
Ritual del Fuego
Since there is a group of people who have access to lockpicks at a lower rate than most of the public, this would create a huge profit center to that group and Mr. regular player would lose out. Lets say that I sell something for 15 lockpicks valued at a "market" price of 1.2k. Now I want to turn it into cash. Now I have to spam WTS lockpicks because if I go to the trader it is only worth 750k which would mean I just lost out on 37% of my value. At least with Ecto, everyone has the same access at the same prices. Like someone else said, if I'm in an alliance that can sell at a higher price, why would they give me a deal? Eventually it would level out because of competition between alliances, however, those that are part of the alliance will still make money off my trade.
The idea of having a fixed value item to trade is a good one, but it would have to be something that everyone has the same access to IMHO.
The idea of having a fixed value item to trade is a good one, but it would have to be something that everyone has the same access to IMHO.
myswheels
The point of this is that you can store/trade your money at _no_ risk. If you own 100 ectos and their price drops 1k, guess what? You just lost 100k. Any amount of gold you have invested in ectos is always at risk, as a lot of people found out recently.
Paying ~50 gold to store 1.2k of your money permanently sounds like a pretty good deal.
Paying ~50 gold to store 1.2k of your money permanently sounds like a pretty good deal.
Firestone
this is only applicable if people take it to be worth 1.2k
unfortunately, most if not all... would take the value to be @ 750g to 1k
another thing to take note of is that if EoTN introduces yet another 1.5k type of key... will lockpick follow obsidian key and get a drop in price?
assuming that you bought a modest 250 keys... a drop of 250g would be 62.5k swiped off.
250/1500 is essentially a 17% drop in value.
what happens if the other person doesn't take keys @ 1.2k in value? essentially it means ur stuck with a value key of 750g. Even if u buy the key @ 1.2k ... u still lose out approx 450g per key.
for some reason... this seems to be more risky to me, and the reason y i used festival tickets till i can find a medium to store my excess $ as.
unfortunately, most if not all... would take the value to be @ 750g to 1k
another thing to take note of is that if EoTN introduces yet another 1.5k type of key... will lockpick follow obsidian key and get a drop in price?
assuming that you bought a modest 250 keys... a drop of 250g would be 62.5k swiped off.
250/1500 is essentially a 17% drop in value.
what happens if the other person doesn't take keys @ 1.2k in value? essentially it means ur stuck with a value key of 750g. Even if u buy the key @ 1.2k ... u still lose out approx 450g per key.
for some reason... this seems to be more risky to me, and the reason y i used festival tickets till i can find a medium to store my excess $ as.
Firebaall
Still not a good idea.
No player or group of players should have an advantage in a wide spread monetary market. It's bad enough that they get a 300 gp break in price and they are ALREADY taking advantage of it.
What about those that don't own factions? Piss on anybody, as long as it benefits YOU, right?
You'll find two types that will support this lockpick "idea". Those that got their asses handed to them due to hoarding ecto, and those that have control of the outposts in factions (where the discount merchants are).
No player or group of players should have an advantage in a wide spread monetary market. It's bad enough that they get a 300 gp break in price and they are ALREADY taking advantage of it.
What about those that don't own factions? Piss on anybody, as long as it benefits YOU, right?
You'll find two types that will support this lockpick "idea". Those that got their asses handed to them due to hoarding ecto, and those that have control of the outposts in factions (where the discount merchants are).
Silly Warrior
Quote:
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Originally Posted by Alleji
That would be nice if the trend actually caught on...
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But chances are it won't. Even if everyone in Guru starts using lockpicks, Guru only counts for a small amount of players.
So unless GWonline, Guru, and all the other fan sites team up to do this, I don't see how its going to happen.
Its the best idea yet though, Lockpicks have a fixed price, problem is they only cost 1.5k, so stacks would have to be bought to amount to anything.
TedTheDead
Quote:
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Originally Posted by myswheels
The point of this is that you can store/trade your money at _no_ risk. If you own 100 ectos and their price drops 1k, guess what? You just lost 100k. Any amount of gold you have invested in ectos is always at risk, as a lot of people found out recently.
Paying ~50 gold to store 1.2k of your money permanently sounds like a pretty good deal. |
It costs 750 gold to store 750 for an everage player that does not want to sit in town and sell lockpicks all day. With ecto at least the cost is down to 7000 gold to store 6000 gold currently. Ecto would have to drop half in price from when you purchased it to make it less effective.
Thats the core truth.
LifeInfusion
Lockpicks are a good idea, as long as the price doesn't get bumped down by arenanet
myswheels
Quote:
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Originally Posted by TedTheDead
It costs 750 gold to store 750 for an everage player that does not want to sit in town and sell lockpicks all day. With ecto at least the cost is down to 7000 gold to store 6000 gold currently. Ecto would have to drop half in price from when you purchased it to make it less effective.
Thats the core truth. |
The sell price of a lockpick is not 750g. Just like you wouldn't sell your ectos to the trader to convert it to gold when you could sell it for trader -1 to another player. Try selling a batch of lockpicks for even 1k or 1.1k each, see how long it takes. Demand will only go higher if lockpicks take off as a form of currency.
The rare mat trader is selling ectos at 7k now, and buying at 5k. So by using the most unintelligent way of converting your gold, you'd lose about 29% of your value. Using lockpicks in the most unintelligent way, you would lose 50%. But, who would do this is any normal circumstance?
Realistically, ectos and lockpicks are traded between players at the same rates (~6k for ectos, ~1.2k for lockpicks). The only difference is, lockpick holders are immune to nerfs and other economy changing events.
Star Gazer
how about using stacks of iron!!! EVERYONE has a stack or 10 of iron, and you could easily use their 3g per as a stable form. hell, its even available to all!!! XD
Diddy bow
Quote:
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Originally Posted by Star Gazer
how about using stacks of iron!!! EVERYONE has a stack or 10 of iron, and you could easily use their 3g per as a stable form. hell, its even available to all!!! XD
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But really i think i said in that tread
"house zu heltzer will cost like 60,000,000 faction or somthing"
would it cause an ff revoloution as if you own one of the cities you have a huge advantage over the economy.
lightblade
Quote:
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Originally Posted by Star Gazer
how about using stacks of iron!!! EVERYONE has a stack or 10 of iron, and you could easily use their 3g per as a stable form. hell, its even available to all!!! XD
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Why not?
TedTheDead
Ectos are worth what they are worth to players and subject to market costs because of what the in-game mechanics would give you if you had to trade it in that way. Ecto are valued what they are because if necessary they could be "cashed in" for something realistically close, as you said around a 29% loss. With lockspicks, as you said you could stand to lose 50%.
Constant worth aside, the margin for potential loss with lockpicks (i.e. being forced to trade in to merchants) is pretty massive compared to ecto. That is why I do not think they will be accepted as currency.
Constant worth aside, the margin for potential loss with lockpicks (i.e. being forced to trade in to merchants) is pretty massive compared to ecto. That is why I do not think they will be accepted as currency.
lucifer_uk
As an admittedly biased player, I will not be trading in lock picks and I'm hoping with the turn of GW:EN that the different rare materials go up in price.
Dougal Kronik
Anything that doesn't have a fixed price tag attached to it will be dropping as more gold is taken out of circulation.
Halfthought
Hurrah for lockpicks :P
lacasner
If lockpicks were like 3k ea then I might consider this idea.
foo
I already said that this is a great idea, however, I know I can buy lockpicks for 1.3k, and I know I can sell them for the same price, hence I value them at 1.3k. when I'll want to buy somehting for 500k, I will not want to find out I need to spend 533k cause I can't find anyone to sell me picks for 1.2k.
Terra Xin
Bullion Coins should be considered by Anet as well.
arcanemacabre
I like this idea. Very much, actually. What's great is that all we have to do is just agree on it, since it's a community issue rather than an Anet issue. I dig.
ryanryanryan0310
I will support this...
But will be really screw up if a-net changes the prices...
But will be really screw up if a-net changes the prices...
Unlucky Slayer
All the power traders and rich people can go do what they want as long as the ecto prices keep dropping I'll be happy.
Zorglubb
Somehow I don't think this will work out: items with similarly fixed prices existed before (high-end keys), and they did not became currency.
Ecto value is more of a tradition thing, just like with gold in our society.
Ecto value is more of a tradition thing, just like with gold in our society.
nugzta
other high end keys are not universal, lockpick you can use it everywhere.
fenix
This will take A LOT of Lockpicks to do decent sized trades. Which is why I'm never going to do it. Much too much effort if I need to sell the Lockpicks at any stage.
Envious
Great idea. Nothing was ever meant to be over 100k anyways, wonder when this will catch on.
Longasc
The revolution has not begun, it died in its infancy as a brainfart.
Sure, the idea is not bad. A fixed price item as ecto substitute.
But this also assumes everyone wants to open chests with the lockpicks.
Not everyone is a treasure hunter, some simply want money.
If you sell them to the Merchant you only get 750 gold, not the proposed 1200/1300 people want to trade them for. They would have to sell TONS of lockpicks to other players.
It is also cumbersome: 1-1.5k per item, this does not work:
If you trade them at 1.2K, you would also need multiple stacks if you exceed 400k: 100+ 300k(=250 Lockpicks a 1200).
This option is almost like trading in Superior Salvage Gears, more useful, but still overkill and not really what people want. Then there is also tradition: Ectos are an established currency.
Final statement: No item should cost more than 100k.
Sure, the idea is not bad. A fixed price item as ecto substitute.
But this also assumes everyone wants to open chests with the lockpicks.
Not everyone is a treasure hunter, some simply want money.
If you sell them to the Merchant you only get 750 gold, not the proposed 1200/1300 people want to trade them for. They would have to sell TONS of lockpicks to other players.
It is also cumbersome: 1-1.5k per item, this does not work:
If you trade them at 1.2K, you would also need multiple stacks if you exceed 400k: 100+ 300k(=250 Lockpicks a 1200).
This option is almost like trading in Superior Salvage Gears, more useful, but still overkill and not really what people want. Then there is also tradition: Ectos are an established currency.
Final statement: No item should cost more than 100k.
ichigo_panty
Blame those people who set their stuffs above 100k.
This will result in factions owning people to earn real fast cash. What if they push the keys to 1400? It is the lowest you can get and 200 per key is a good trade.
I still think that rare materials make a better alt money as you can't buy them from merchants 24/7, people control the market of these materials.
This will result in factions owning people to earn real fast cash. What if they push the keys to 1400? It is the lowest you can get and 200 per key is a good trade.
I still think that rare materials make a better alt money as you can't buy them from merchants 24/7, people control the market of these materials.