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Brand Spankin New Totem
- Thread starter Argyle
- Start date
Nikki_Demise
Bug Hunter
Re: Brand Spankin New Totem
There has been someone trying to sell a totem for 6 BRSK's at Luna bank for some time. Even if you value a BRSK at a trade value of 4k thats 24k for a totem. 18kk if you assign a cash value of 3kk to a BRSK. He hasn't succeeded last i saw and 6 BRSK is probably easier to come by than 20kk.
There has been someone trying to sell a totem for 6 BRSK's at Luna bank for some time. Even if you value a BRSK at a trade value of 4k thats 24k for a totem. 18kk if you assign a cash value of 3kk to a BRSK. He hasn't succeeded last i saw and 6 BRSK is probably easier to come by than 20kk.
Re: Brand Spankin New Totem
Man keep your item and use it, or just make a deal with someone that posts in the buying forum. next time before you make another post to sell it or bump this one, just check the last 4 pages of the buying forums on here, amazing what people will give if they have been trying to get it for weeks or days.
Man keep your item and use it, or just make a deal with someone that posts in the buying forum. next time before you make another post to sell it or bump this one, just check the last 4 pages of the buying forums on here, amazing what people will give if they have been trying to get it for weeks or days.
Mister Dank
Knight
Re: Brand Spankin New Totem
Last I checked it was 30m, and items usually go for less than their full value when the payment is exclusively gold.
Argyle;431221 said:
Last I checked it was 30m, and items usually go for less than their full value when the payment is exclusively gold.
repiovesana
Sorceror
Re: Brand Spankin New Totem
The problem is that very few people actually have 20 million in cash to spend. And those who do, already have a Totem... or should I say *some* Totems?
The problem is that very few people actually have 20 million in cash to spend. And those who do, already have a Totem... or should I say *some* Totems?
Re: Brand Spankin New Totem
Yeah, this is Totem #3 for me.
And I wasnt bumping my thread tbh, I was just making fun of the "economy" here. Its more grossly inflated than speculation on the petroleum markets.
Things are worth X gold until you ask for X gold, then they are worth X/2 Gold.
Comical.
Yeah, this is Totem #3 for me.
And I wasnt bumping my thread tbh, I was just making fun of the "economy" here. Its more grossly inflated than speculation on the petroleum markets.
Things are worth X gold until you ask for X gold, then they are worth X/2 Gold.
Comical.
Mister Dank
Knight
Re: Brand Spankin New Totem
Tbh it reflects reality; do you really think there is enough gold stashed away by the USA to cover all the paper money and credit issued here in America?
Tbh it reflects reality; do you really think there is enough gold stashed away by the USA to cover all the paper money and credit issued here in America?
Re: Brand Spankin New Totem
Um, Dank, an educated man knows that we have a fiat currency system which was established with the abolishment of the gold standard in 1971 and that the value of our currency is a factor of international debt and global exchange rates.
Actually there is about $253,000,000,000 in physical currency the last time I checked, and thats not even enough CASH to pay for the value of the USA's accounts payable or receivable.
However, that doesn't mean I can purchase any product on the market for HALF of its value with cash or troy gold ounces. I might get a 3-7% break for paying with cash. If I tried to buy a car with a gold bar the dealership wouldn't know what to do...
So it doesnt reflect reality worth a damn actually.
Um, Dank, an educated man knows that we have a fiat currency system which was established with the abolishment of the gold standard in 1971 and that the value of our currency is a factor of international debt and global exchange rates.
Actually there is about $253,000,000,000 in physical currency the last time I checked, and thats not even enough CASH to pay for the value of the USA's accounts payable or receivable.
However, that doesn't mean I can purchase any product on the market for HALF of its value with cash or troy gold ounces. I might get a 3-7% break for paying with cash. If I tried to buy a car with a gold bar the dealership wouldn't know what to do...
So it doesnt reflect reality worth a damn actually.
Mister Dank
Knight
Re: Brand Spankin New Totem
What I meant was that our system was initially based on gold, but inflated to the point where that became a useless standard. I was drawing a comparison between that fact and the fact that on demise gold is also becoming a useless standard to base some thing's worth on.
What I meant was that our system was initially based on gold, but inflated to the point where that became a useless standard. I was drawing a comparison between that fact and the fact that on demise gold is also becoming a useless standard to base some thing's worth on.
Re: Brand Spankin New Totem
And the point that I was making was that inflationary rates based on a prime standard above the realistic selling point is an economy that has no true standard.
If people say an Orny is worth 50-60 mil, but you cant actually get that product for the gold, then the price is LESS.
Supply, meet demand.
And the point that I was making was that inflationary rates based on a prime standard above the realistic selling point is an economy that has no true standard.
If people say an Orny is worth 50-60 mil, but you cant actually get that product for the gold, then the price is LESS.
Supply, meet demand.
Mister Dank
Knight
Re: Brand Spankin New Totem
Factor in stubborn assholes.
Factor in stubborn assholes.
Nikki_Demise
Bug Hunter
Re: Brand Spankin New Totem
It doesn't reflect reality. UO currency may be called gold but it doesn't carry the same intrinsic value real gold carries. Also the dollar isn't backed by gold either. In the case of both the dollar and the gp both currency's are intrinsically worthless and only have value because we believe they will be accepted later in another transaction. ltot's are a much better corollary to real gold since they are also are used as a medium of exchange but like gold they have their own intrinsic value in their ability to be used directly to generate something of value. In the real world we don't have one value for an item measured in dollars but used solely as a measure of comparing the value between two goods and another value for an actual sale in dollars.
I think this is caused by a rapid shift in how people view the gp. Back in spring the talk on the forums was about how worthless gold was and it was fairly easy to sell an item for gold value but as values approached the high end people often expected to get items in trade and didn't want gold. I've been away from the game so I don't know what has caused the shift but now people WANT gold, as a result the value of gold has appreciated and the supply is squeezed harder. Naturally as the value of gold appreciates the gold values of items should fall. However since this shift has happened so rapidly people are having trouble accepting the perceived loss. There have been some cases where items go up or down in value. Stormgrips are more expensive than they were AOF's are cheaper but for the most part most items seem to have pretty much retained their values relative to each other.
I think the gap between trade value and sale value is a coping mechanism. When people remember their items were worth 60kk last spring they don't want to accept that they are worth only 30kk now because that drop in gold value looks like they lost alot of money and people don't want to accept that. In practice most high value transactions still take place in trades which allows people to insist their items are still worth 60kk and avoid accepting that they are now worth 30kk.
The reason this will never happen in real life is because most business is actually conducted in dollar sales and not trades forcing people to deal with value fluctuations. When we buy a house it may be borrowed money but we actually pay the price in dollars. We don't give a car, a big screen TV, 6 laptops, and 10k.
In UO's high end barter economy the trade value of an item can move away from it's sale value and business still function without people being forced to accept the changed value of their items. In real life if the dollar were to deflate 50% over the course of the summer it may take some time to accept but people would have to accept that the house they bought for 200k in the spring is only worth 100k now that they want to sell it and perceived would follow real values down as people gave in to reality and made sales.
It doesn't reflect reality. UO currency may be called gold but it doesn't carry the same intrinsic value real gold carries. Also the dollar isn't backed by gold either. In the case of both the dollar and the gp both currency's are intrinsically worthless and only have value because we believe they will be accepted later in another transaction. ltot's are a much better corollary to real gold since they are also are used as a medium of exchange but like gold they have their own intrinsic value in their ability to be used directly to generate something of value. In the real world we don't have one value for an item measured in dollars but used solely as a measure of comparing the value between two goods and another value for an actual sale in dollars.
I think this is caused by a rapid shift in how people view the gp. Back in spring the talk on the forums was about how worthless gold was and it was fairly easy to sell an item for gold value but as values approached the high end people often expected to get items in trade and didn't want gold. I've been away from the game so I don't know what has caused the shift but now people WANT gold, as a result the value of gold has appreciated and the supply is squeezed harder. Naturally as the value of gold appreciates the gold values of items should fall. However since this shift has happened so rapidly people are having trouble accepting the perceived loss. There have been some cases where items go up or down in value. Stormgrips are more expensive than they were AOF's are cheaper but for the most part most items seem to have pretty much retained their values relative to each other.
I think the gap between trade value and sale value is a coping mechanism. When people remember their items were worth 60kk last spring they don't want to accept that they are worth only 30kk now because that drop in gold value looks like they lost alot of money and people don't want to accept that. In practice most high value transactions still take place in trades which allows people to insist their items are still worth 60kk and avoid accepting that they are now worth 30kk.
The reason this will never happen in real life is because most business is actually conducted in dollar sales and not trades forcing people to deal with value fluctuations. When we buy a house it may be borrowed money but we actually pay the price in dollars. We don't give a car, a big screen TV, 6 laptops, and 10k.
In UO's high end barter economy the trade value of an item can move away from it's sale value and business still function without people being forced to accept the changed value of their items. In real life if the dollar were to deflate 50% over the course of the summer it may take some time to accept but people would have to accept that the house they bought for 200k in the spring is only worth 100k now that they want to sell it and perceived would follow real values down as people gave in to reality and made sales.
Nikki_Demise
Bug Hunter
Re: Brand Spankin New Totem
It doesn't reflect reality. UO currency may be called gold but it doesn't carry the same intrinsic value real gold carries. Also the dollar isn't backed by gold either. In the case of both the dollar and the gp both currency's are intrinsically worthless and only have value because we believe they will be accepted later in another transaction. ltot's are a much better corollary to real gold since they are also are used as a medium of exchange but like gold they have their own intrinsic value in their ability to be used directly to generate something of value. In the real world we don't have one value for an item measured in dollars but used solely as a measure of comparing the value between two goods and another value for an actual sale in dollars.
I think this is caused by a rapid shift in how people view the gp. Back in spring the talk on the forums was about how worthless gold was and it was fairly easy to sell an item for gold value but as values approached the high end people often expected to get items in trade and didn't want gold. I've been away from the game so I don't know what has caused the shift but now people WANT gold, as a result the value of gold has appreciated and the supply is squeezed harder. Naturally as the value of gold appreciates the gold values of items should fall. However since this shift has happened so rapidly people are having trouble accepting the perceived loss. There have been some cases where items go up or down in value. Stormgrips are more expensive than they were AOF's are cheaper but for the most part most items seem to have pretty much retained their values relative to each other.
I think the gap between trade value and sale value is a coping mechanism. When people remember their items were worth 60kk last spring they don't want to accept that they are worth only 30kk now because that drop in gold value looks like they lost alot of money and people don't want to accept that. In practice most high value transactions still take place in trades which allows people to insist their items are still worth 60kk and avoid accepting that they are now worth 30kk.
The reason this will never happen in real life is because most business is actually conducted in dollar sales and not trades forcing people to deal with value fluctuations. When we buy a house it may be borrowed money but we actually pay the price in dollars. We don't give a car, a big screen TV, 6 laptops, and 10k.
In UO's high end barter economy the trade value of an item can move away from it's sale value and business still function without people being forced to accept the changed value of their items. In real life if the dollar were to deflate 50% over the course of the summer it may take some time to accept but people would have to accept that the house they bought for 200k in the spring is only worth 100k now that they want to sell it and perceived would follow real values down as people gave in to reality and made sales.
ps. Reading what was said while I was typing I should point out the UO gp isn't inflating it's deflating.
It doesn't reflect reality. UO currency may be called gold but it doesn't carry the same intrinsic value real gold carries. Also the dollar isn't backed by gold either. In the case of both the dollar and the gp both currency's are intrinsically worthless and only have value because we believe they will be accepted later in another transaction. ltot's are a much better corollary to real gold since they are also are used as a medium of exchange but like gold they have their own intrinsic value in their ability to be used directly to generate something of value. In the real world we don't have one value for an item measured in dollars but used solely as a measure of comparing the value between two goods and another value for an actual sale in dollars.
I think this is caused by a rapid shift in how people view the gp. Back in spring the talk on the forums was about how worthless gold was and it was fairly easy to sell an item for gold value but as values approached the high end people often expected to get items in trade and didn't want gold. I've been away from the game so I don't know what has caused the shift but now people WANT gold, as a result the value of gold has appreciated and the supply is squeezed harder. Naturally as the value of gold appreciates the gold values of items should fall. However since this shift has happened so rapidly people are having trouble accepting the perceived loss. There have been some cases where items go up or down in value. Stormgrips are more expensive than they were AOF's are cheaper but for the most part most items seem to have pretty much retained their values relative to each other.
I think the gap between trade value and sale value is a coping mechanism. When people remember their items were worth 60kk last spring they don't want to accept that they are worth only 30kk now because that drop in gold value looks like they lost alot of money and people don't want to accept that. In practice most high value transactions still take place in trades which allows people to insist their items are still worth 60kk and avoid accepting that they are now worth 30kk.
The reason this will never happen in real life is because most business is actually conducted in dollar sales and not trades forcing people to deal with value fluctuations. When we buy a house it may be borrowed money but we actually pay the price in dollars. We don't give a car, a big screen TV, 6 laptops, and 10k.
In UO's high end barter economy the trade value of an item can move away from it's sale value and business still function without people being forced to accept the changed value of their items. In real life if the dollar were to deflate 50% over the course of the summer it may take some time to accept but people would have to accept that the house they bought for 200k in the spring is only worth 100k now that they want to sell it and perceived would follow real values down as people gave in to reality and made sales.
ps. Reading what was said while I was typing I should point out the UO gp isn't inflating it's deflating.
DROGADICTO
Sorceror
Re: Brand Spankin New Totem
Yea and if I had 20mil I would have already bid.
Yea and if I had 20mil I would have already bid.
a-e-i-Own-you
Sorceror
Re: Brand Spankin New Totem
--and how much, approximately, does your Country owe China?
Argyle;431279 said:
--and how much, approximately, does your Country owe China?