The Runescape economy (9/8/08)

[DaFlip]

Alot of people blame the G.E for the prices. Others claim that Jagex is a bunch of communists and relate it to pking/staking/free trade, Or they blame junk trading. But...

 

 

 

From what I see, Massive merchants who "buyout" items seem to be the ones controlling the market.

 

 

 

Buying out means a group of merchants with alot of money choose an item that can be bought at its lowest/market price. They buy every single bit of that item that they can in the G.E. People soon start wanting the item or seeing that the item is rising so everyone is trying to buy it. People can't buy that certain item so they offer max price, Which raises the price over time. These merchants are laughing because its raising everyday and they do absolutely nothing making their money. Then they dump their items all at the same time, It causes an overproduction of those items which causes it to crash.

 

 

 

Want to know a good example? About a few days ago from today (9/8/08), All bandos items went in a massive demand, Bgs went from 20m to 25m+ ect. That was from the doing of people who buy out items. And now look at bandos now, Every peice is going down dramatically.

 

 

 

It really does destroy the RS economy and Jagex really needs to fix it. My solution would be to put certain limits on certain items that you can buy in 24 hours. For example: You shouldn't be able to buy more then two Godswords in 24 hours, There would be no reason to buy more then two.

 

 

 

What would your solution be?

[Wizz]

Limit on the amount of Items you can have?

 

But that would be unfair, especially to collecters.....

[DaFlip]

Sorry I missed phrased that, I meant to limit certain items that you can buy a day.

 

Edit: I fixed it.

[SixFootOne]

Isnt there already a few threads on this?

 

 

 

edit: here one is viewtopic.php?f=30&t=760595

[hellbellz]

No offense to you, but ever since I read Duke Freedom's market articles a few years back no one can seem to keep up to his level and every topic about it seems dull.

 

 

 

Solution? It seems as if you should just wait for the item to crash to get the most out of your gp.

[ortiz9471]

There are limits, you can't buy more than 100 godswords in 4 hours and you can't buy more than 20k of a 'raw material' in 20 hours (i.e. runes, logs, arrows, etc.)

 

 

 

Seriously, putting limits on an item-to-item basis (such as a special limit for godswords) is just stupid. If the RS economy is weak enough for small groups of merchants to completly control it, then there is something wrong with the economy not the merchants. It's that whenever people see something rise they immediately buy it for max, when something drops a little they immediately sell it for minimum; they panic and it just fuels the fire of the merchants. People panic selling/buying do more damage than the people causing the initial change by buying out items. It's not the merchants fault that people are complete idiots and don't think about stuff when they buy/sell.

[Tom_Servo]

What would my solution be?

 

 

 

Not worry about it and keep playing. It's just a game.

[Erichermit]

I'm getting tired of all these "Economy is failing!" threads.

 

 

 

I've been hearing people say the Economy is gone to hell since I can last remember simply because there's always at least one group not happy with the way things are.

 

 

 

I've been inconvenienced by this price manipulation too but it doesn't bother me all too much.

[Omali]

I have an idea: How about everyone with an idea on the economy stop making their own threads.

[Laura]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

[Deathmath]

Leave the troll alone (he even admitted it), report his posts.... it'll be dealt with.

 

 

 

On topic the economy is in a sorry state, but i have no solutions...

 

 

 

And who said we were scientologists :P

[jessy87]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

 

 

 

 

 

 

 

seems very ineffective for the most part. Seeing how if i was going to start a mass manipulation of prices i would simply keep it quite

 

 

 

 

 

 

 

i checked out the clan chat that is responsible for some of this. Its interesting.

 

 

 

plans are to buy out some things such as

 

 

 

 

 

ahrims top/skirt

 

range pots

 

sara brew

 

snap dragons/sup restore

 

i think ZGS might have been touched upon

 

robin hood hats

 

dark bows

 

whips

 

dragon legs

[Deathmath]

Strange, I never thought these operations were a) this organized and B) illegal.

 

 

 

Care to elaborate?

 

I find this very interesting as one of the majors I am considering is economics.

[Laura]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

 

 

 

 

 

 

 

seems very ineffective for the most part. Seeing how if i was going to start a mass manipulation of prices i would simply keep it quite

 

 

 

 

 

 

 

i checked out the clan chat that is responsible for some of this. Its interesting.

 

 

 

plans are to buy out some things such as

 

 

 

 

 

ahrims top/skirt

 

range pots

 

sara brew

 

snap dragons/sup restore

 

i think ZGS might have been touched upon

 

robin hood hats

 

dark bows

 

whips

 

dragon legs

 

That's the problem, you can't keep them as quiet as you intend.

 

 

 

Strange, I never thought these operations were a) this organized and B) illegal.

 

 

 

Care to elaborate?

 

I find this very interesting as one of the majors I am considering is economics.

 

You are, as he said, abusing a bug in the GE by buying out a stock of items in hopes to lower the supply and increase demand while gaining other players support and successfully pushing the GE to move at a rate it wouldn't normally. Price manipulation has been against the rules for awhile now. This is the first time I've seen action done about it.

[Makoto_the_Phoenix]

How many economy speculation threads do we really need? There's easily two in Rants and a handful in Debate Club.

[CampbellMC]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

 

 

 

I highly doubt that this is actually considered illegal price manipulation. That rule was set back before trade limits when people would randomly spam the forums saying whips were double their original price to try and convince people to buy at the inflated cost. These people are not manipulating the price by lying, they are physically buying out every one of that item on the GE. Even though I do not do the merchanting, and it can bug me sometimes with the prices going wild and I have to wait a week to get my items, I still dont think these people are doing anything wrong. No one is forcing you to buy the item at max price, you can wait 3 days and chances are it will be back down BELOW normal price due to the wave effect. Buy smart and you will actually use their merchanting to your advantage.

[Blingkachi50]

Gf post, I consider these whiny posts just as much spam as mine was, seen as how there's so many...

[mario_sunny]

How many times do I have to explain this! Seriously... would you read some topics on the general board? I actually think this is the 6th time I've had to reply to one of these price manipulation topics.

 

 

 

MOST of the items you now see shooting up in price are NOT a result of price manipulation, but RATHER the large amount of schoolkids recently dumping all their members items because they are returning to p2p. This causes a decline in price, then everyone starts buying them again because they are so cheap, then merchants see them shooting up, they buy a lot of them. It was not their original intension to manipulate bandos, for example.

 

 

 

The mods will never suceed at taking down price manipulation. It's like organised crime; it's organised, for one, and the law enforcement can never be 100% sure price manipulation is going on (or if it is just a result of merchant panic, a good example being one going on right now, which I just explained above). Without hard evidence, mods cannot ban suspected manipulators, because they could just claim they were buying the item at max price just because they wanted it. All mods can do is scare people, which is the sad truth, unless they want the reputation of banning innocent people (oh wait, they already have that :roll: ).

 

 

 

All GE limits are just terrible... and now I can almost garantee you jagex, being the [wagon] they are, will put even more limits on the GE severly restricting the average player and beating what's left of merchanting/investing into a bloody pulp. So typical of jagex just to put more limits on things, when they should be taking them away. And I'm almost positive they're going to come up with some long and winding story about how this "stops RWT."

[Profenix]

In my opinnion, free market makes the economy more interesting and it should be left like that. Merchants that control the market are just richer and use their money wiser than everyone else. I see nothing wrong with profiting off making a good buy or sell.

[TheHunted616]

I'd be more worried about your mother being sold to a n00b than the current economy problem..

[Omali]

I'd be more worried about your mother being sold to a n00b than the current economy problem..

 

 

 

I'm happy to see your concern....I think I'll go call my mother now, make sure there's no n00bs and auctioneers in the house. :cry:

[SirHartlar]

I have an idea: How about everyone with an idea on the economy stop making their own threads.

 

 

 

You don't have the right to tell people what to do on these forums, they aren't yours remember?

 

 

 

I don't think the manipulators should be punished, they found a way to make money when other people thought merchanting to be dead. If they are willing to risk hundreds of millions to make some more cash in return, good on them. If Jagex made it against the rules now then it is a bit obvious they want to feel in some form of control over the GE, time will tell.

[Laura]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

 

 

 

I highly doubt that this is actually considered illegal price manipulation. That rule was set back before trade limits when people would randomly spam the forums saying whips were double their original price to try and convince people to buy at the inflated cost. These people are not manipulating the price by lying, they are physically buying out every one of that item on the GE. Even though I do not do the merchanting, and it can bug me sometimes with the prices going wild and I have to wait a week to get my items, I still dont think these people are doing anything wrong. No one is forcing you to buy the item at max price, you can wait 3 days and chances are it will be back down BELOW normal price due to the wave effect. Buy smart and you will actually use their merchanting to your advantage.

 

While I don't see much wrong in it, it does hurt the economy and reap others losses for your own benefit. He said merchanting is ok, while manipulating (what ACIDY's chat was doing) was against the rules. Although, I ponder as to what crosses the line between the two.

[War_Junky_91]

Mod Zach is now in Acidy's chat. Exclaiming that price manipulation, is against the rules. Although that's not stopping everyone, he is learning about, and patrolling some of the more popular manipulating chats.

 

 

 

I highly doubt that this is actually considered illegal price manipulation. That rule was set back before trade limits when people would randomly spam the forums saying whips were double their original price to try and convince people to buy at the inflated cost. These people are not manipulating the price by lying, they are physically buying out every one of that item on the GE. Even though I do not do the merchanting, and it can bug me sometimes with the prices going wild and I have to wait a week to get my items, I still dont think these people are doing anything wrong. No one is forcing you to buy the item at max price, you can wait 3 days and chances are it will be back down BELOW normal price due to the wave effect. Buy smart and you will actually use their merchanting to your advantage.

 

While I don't see much wrong in it, it does hurt the economy and reap others losses for your own benefit. He said merchanting is ok, while manipulating (what ACIDY's chat was doing) was against the rules. Although, I ponder as to what crosses the line between the two.

 

The main thing that seperates the two is this: When you merchant you read the flow of the prices, you see that an item is going to rise in price soon and you stock up. And then the price increases naturally and you make a profit. While manipulation is a group effort where very large amounts are bought in an attempt to directly rise the price and then sell the item. With merchanting your actions shouldn't directly affect the price (by very much at least).

[Ezz]

This reminds me of how merchanters controlled the market before the GE. Although now the additional problem is that it's impossible to buy an item they're "buying out" unless you pay junk.