Save the Date! 26-Feb-2010

[tortilliachp]

hehe, this topic gives me an excuse to introduce my old 3 lessons learned from the runescape economy:

 

1) santa hats in 2006 / 2007

2) release of construction

3) release of farming

 

1) in runescape, there are so many merchanters that everything peaks early. More and more people realize this, and things peak earlier and earlier. I.E. invest, sell early when you're still in profit, don't get greedy is an even better maxim in runescape trading.

 

2) Jagex can release stuff with no forewarning. The economy creates insane demands for items used for other things, that you rarely know anything about. Just consider teel bars at the release of construction. They doubled in price, in 4 minutes 2 of which were the update timer.

 

3) Conversely, when Jagex anounce updates, the economy over-compensates. i sold potato seeds for 2,3k each. after the actual implementation of the skill, they were worthless.

 

 

Implications:

 

keep items not cash. especially raw materials for your goals, that way you are insured that your goals are attainable, even with price raises. immediate price drops are unheard of, and take much longer time. time enought o sell your banked gold ore for smithing on the release of living rock caverns before prices drop at all.

 

sell early. that way you always make money and never get burned.

 

don't invest in items you don't know the future uses of, do invest on likely scenarios. if you sell early, other merchanters will always take the fall cause they get greedy.

 

 

looking at my bank, i'm set to make a fortune for not keeping cash, but keeping raw materials for all my goals, and raw materials that are stable in price, but few collect (probable candidates both for merchenting clans to manipulate, which i profit regularly on, and unlikely to drop in value).

 

Even with this economic self-interst, this update is bad. as a player, we can learn from the funky desicons in the Jagex past, and adapt. These are my 3 policies, do you have others?

[United]

Chart taken from Runewiki. It's their version of the stock exchange index. It started at an arbitrary 100 when the GE came out (at least I think it was that soon). I'll post the chart again in 3 weeks and we'll see where we're at. The chart takes things like logs, ores, bars, fish etc. into account. It doesn't do herbs or planks or others like that.

 

Mod MMG: Congrats guys, we finally slowed hyperinflation with our 76king nerf!

Mod Fnord: Hey, why don't we do something else to mess around with the economy?

I'm not sure if you're trying to link the graph to the joke about inflation, but the CTI does not necessarily represent inflation or the value of your money/gold; it just means more items/wealth are/is changing hands. Also, this might be pedantic, but Runescape would be considered to have galloping inflation rather than hyperinflation.

 

 

hehe, this topic gives me an excuse to introduce my old 3 lessons learned from the runescape economy:

 

1) santa hats in 2006 / 2007

2) release of construction

3) release of farming

 

1) in runescape, there are so many merchanters that everything peaks early. More and more people realize this, and things peak earlier and earlier. I.E. invest, sell early when you're still in profit, don't get greedy is an even better maxim in runescape trading.

 

2) Jagex can release stuff with no forewarning. The economy creates insane demands for items used for other things, that you rarely know anything about. Just consider teel bars at the release of construction. They doubled in price, in 4 minutes 2 of which were the update timer.

 

3) Conversely, when Jagex anounce updates, the economy over-compensates. i sold potato seeds for 2,3k each. after the actual implementation of the skill, they were worthless.

 

 

Implications:

 

keep items not cash. especially raw materials for your goals, that way you are insured that your goals are attainable, even with price raises. immediate price drops are unheard of, and take much longer time. time enought o sell your banked gold ore for smithing on the release of living rock caverns before prices drop at all.

 

sell early. that way you always make money and never get burned.

 

don't invest in items you don't know the future uses of, do invest on likely scenarios. if you sell early, other merchanters will always take the fall cause they get greedy.

 

 

looking at my bank, i'm set to make a fortune for not keeping cash, but keeping raw materials for all my goals, and raw materials that are stable in price, but few collect (probable candidates both for merchenting clans to manipulate, which i profit regularly on, and unlikely to drop in value).

 

Even with this economic self-interst, this update is bad. as a player, we can learn from the funky desicons in the Jagex past, and adapt. These are my 3 policies, do you have others?

The part about selling early and not being greedy is a great tip. It's important to keep yourself firmly rooted in reality and to think everything through (although there is always risk versus reward considerations in merchanting). Holding your wealth in items is just common sense in an inflating economy as they will always have an inherent value (as long as they are not nerfed, new update with a better item, etc) due to their utility/purpose while the value of your gold is subject to shifts in the market, etc.

 

However, I'm not sure what you mean by not investing in items you don't know the future of since the future will always be uncertain until it happens... there is always risk versus reward, and (usually, except for maybe right now!) you have to gamble big to turn big profits. Even with no clear reason to determine whether an item's value should increase or decrease (ie. no recent updates, no future updates mentioned, etc), there are a few ways to make a reliable investment in items as long as you are careful (back to not being greedy).

[stonewall337]

Well, I got 25k P ess saved from slayer, as well as a ton of seeds. So in that sense I can either get great RC xp, or profit.

 

However, I got something in the area of 800 blues and close to 4k crims, and seconds will be unbuyable. Guess I will start doing more tzhaar tasks, and saving the obby charms.

[Peronix]

Just collected herbs from MTK and sold on GE. Everything sold for max instantly...

 

Well, there goes any hope of training herblore via herb cleaning FOR THE NEXT TWO WEEKS. :angry:

 

This kinda reminds me of the new law in the US where credit card companies are being forbidden to change rates on their customer's balance without a prior notice of 45 days. So they have 1 year's warning before the law goes into effect. So what do they do? Jack up everyone's rates of course!

 

Jagex may have thought that this would make things easier and cheaper, but all they're doing is screwing everyone over in the time before the weekend. Merchants pretty much rule the economy so if they see any opportunity where certain items are going to be in demand, they buy it out. In this case, everything is in demand. So... they're having a field day.

[Ronan]

This is now, without any argument against it, a systematic shift of their game from what it was to what they want it to be. I'm just not sure what they want it be yet, but to be honest, it concerns me.

I'd definitely agree with you here. Although on the surface it seems nice, any game i've come across that uses these kind of tactics and ideas has always turned out for the worse, seems somewhat 'tacky' to me.

 

Still, I've finished up with RuneScape to focus on my game development, I just hope Jagex don't send RuneScape downhill - it's one of the few MMOs I've seen that are actually well designed! (Second thoughts - bit of an exaggeration here, of-course even to begin developing an MMO it takes great consideration. Rather, I feel Jagex have actually done a pretty good job of it when compared to most.)

[Pinkbullet3]

Sucks being F2P.

 

:(

[PuppyKing]

I wonder if woodcutting ivy is included in the bonus. The list says cutting trees/evil trees. Is ivy a tree? :???:

[Flyingjj]

Sweet. This weekend is the beginning of my Spring Break!

 

And I don't care about the economy implications, I'm gonna train hunter.

[bedman]

I haven't collected from my kingdom for 2 months now. Herbs still the best I guess and maybe maples now for some seeds? Any advice is welcome.

 

I'm also happy I'm already 98 sumoning and have enough seconds for 99 (+ a lot of leftover, not sure what to do with it yet) + I have 80k red chins from a failed merch haha.

[stonewall337]

If I can swap my P ess+torstol and other herbs for summoning seconds, I should be able to get 96, maybe 97.

[bedman]

If I can swap my P ess+torstol and other herbs for summoning seconds, I should be able to get 96, maybe 97.

I got some summoning seconds I might trade for torstol?

[jsboutin2]

I feel lucky to have seen this post this morning. I was able to buy some supplies for my summoning, however, a miscalculation led me to face unbuyable stuff, but meh, that's life.

 

I don't care, it'll be great anyway.

[Grimy_Bunyip]

If I can swap my P ess+torstol and other herbs for summoning seconds, I should be able to get 96, maybe 97.

I got some summoning seconds I might trade for torstol?

*bids 3800 yak hides*

[stonewall337]

I got like 320 torstol, so not a huge amount. PM me though if you want to trade.

[manitstinks]

Does anyone think making harralander tar works for herblore during this?

[Hegel]

If anyone is interested, the average bonus multiplier you get across the first 10 hours is about 1.6925926.

[mcneilp]

Could've used the extra exp but i don't have members so won't be on. Nice to see them doing this though.

[gspbeetle]

Does barrages and chins count? :blink:

[jsboutin2]

Does barrages and chins count? :blink:

 

Probably, if you find a spot.

 

 

Which should be really, really difficult.

[Golvellius]

Only about 5 hours looking at that graph where you get nice xp.

Guess, I'll fill up all my tree patches with magics and palms and a spirit tree.

Checkem real fast when I log in then off to rune crafting.

[3PointMan]

Anyone wanna trade me 500g granite in exchange for an equal amount of torstol? I have 3k torstol I bought to flip, but I need summoning seconds badly >_>

 

PM me INGAME

 

3_Point_Man

[Everyonedies]

Skimming through the thread i know im in the minority but why in the heck is Jagex doing this? Bonus weekends??? Seems to me like some cheap gimmick that a used car dealer uses to get people to come down and hear his pitch about how good his crappy cars are... Runescape isnt crappy so why are they doing this?

[ilovecuttingyews]

Image is on page 8

I'm not sure if you're trying to link the graph to the joke about inflation, but the CTI does not necessarily represent inflation or the value of your money/gold; it just means more items/wealth are/is changing hands. Also, this might be pedantic, but Runescape would be considered to have galloping inflation rather than hyperinflation.

I put the chart in because people were wondering how this would effect the economy. Since no one can accuratly predict what will happen, I figured I would provide before and after shots and compare them to peoples' predictions.

I read all of the info on the CTI page as well as the discussion page and found no evidence that it's based on trade volumes. All of the discussions that I saw were about prices. If I am mistaken, please provide proof so that I don't keep going on blindly in the wrong direction.

Yes, I know that CTI doesn't reflect the value of GP but as far as I know it does reflect the vlaue of items. Since GP has a static value of 1 any perceived change in value would have to come from other items changing in relation to that base value of GP.

And, I am no economist so I don't know the exact definition of galloping vs hyper - inflation. I just have used that term since we saw inflation go from 1-2% per month for quite a while to 10-20% durring the summer. I think that 'hyperinflation' is a nice, simple to understand substitute for 'inflation that is well beyond the natural and healthy inflation'. And with the emount of economy noobs here (myself included) a simple to understand term is much more helpfull then big economist lingo.

[United]

Image is on page 8

I'm not sure if you're trying to link the graph to the joke about inflation, but the CTI does not necessarily represent inflation or the value of your money/gold; it just means more items/wealth are/is changing hands. Also, this might be pedantic, but Runescape would be considered to have galloping inflation rather than hyperinflation.

I put the chart in because people were wondering how this would effect the economy. Since no one can accuratly predict what will happen, I figured I would provide before and after shots and compare them to peoples' predictions.

I read all of the info on the CTI page as well as the discussion page and found no evidence that it's based on trade volumes. All of the discussions that I saw were about prices. If I am mistaken, please provide proof so that I don't keep going on blindly in the wrong direction.

Yes, I know that CTI doesn't reflect the value of GP but as far as I know it does reflect the vlaue of items. Since GP has a static value of 1 any perceived change in value would have to come from other items changing in relation to that base value of GP.

And, I am no economist so I don't know the exact definition of galloping vs hyper - inflation. I just have used that term since we saw inflation go from 1-2% per month for quite a while to 10-20% durring the summer. I think that 'hyperinflation' is a nice, simple to understand substitute for 'inflation that is well beyond the natural and healthy inflation'. And with the emount of economy noobs here (myself included) a simple to understand term is much more helpfull then big economist lingo.

Well, it's based on trade volume, but you seem to agree that it does not depict inflation: "I know that CTI doesn't reflect the value of GP." Anyway, yeah I understand that it isn't particularly common knowledge, but hyperinflation describes EXCESSIVE amounts of inflation to a degree you probably don't have any idea of. Let me explain. 1-3% inflation is called "creeping inflation," galloping inflation is around 100%-300% (so what you want to call Runescape's economy depends on the time frame), and hyperinflation is generally very... hyper. Hyper as a prefix means "excessive." Meaning inflation of over 3000%... the inflation is so high that your money is literally worthless and your currency will literally fail; inflation is so high that the CONCEPT of inflation is worthless. ie Germany following WW1, prices rose on average by a factor of 20 billion. Or in places in Africa where they wipe their [wagon] with their money because it is actually worth less than toilet paper.

 

So I guess for all of that my point is that the term hyperinflation misrepresents the situation completely lol.

[Bloodstain]

Anyone got any ideas for good non chin range training during the weekend? I suspect chin spots will be over flowed, so maybe a cannon somewheres?