Jump to content

Welcome to Rune Tips, the first ever RuneScape help site. We aim to offer skill guides, quest guides, maps, calculators, informative databases, tips, and much more to help you get the most from the Massive Online Adventure Game, RuneScape, by Jagex Ltd © 2009.

Report Ad

Welcome to Forum.Tip.It
Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads, give reputation to your fellow members, get your own private messenger, post status updates, manage your profile and so much more. If you already have an account, login here - otherwise create an account for free today!
Photo

Tip.It Times - 30th January 2011


  • Please log in to reply
35 replies to this topic

#21
Hawks
[ Display Name History ]

Hawks

    The Goalie

  • Editorial Panel
  • 3,963 posts
  • Gender:Female
  • Location:the great white north, eh?
  • Joined:24 August 2006
  • RuneScape Status:Semi-Retired
  • RSN:Hawk0078
Someone should do a full study of what goes on in Runescape's economy. Why junk trading prevails for now, and how having both the GE and free trade might work when it returns. I really liked both articles this week, and thought we got to some interesting topics.

#22
Bladewing
[ Display Name History ]

Bladewing

    Dragon Slayer

  • Members
  • 6,072 posts
  • Gender:Not Telling
  • Location:Minnesota, USA
  • Joined:21 December 2005
  • RuneScape Status:None
  • RSN:Stringcheze

Someone should do a full study of what goes on in Runescape's economy. Why junk trading prevails for now, and how having both the GE and free trade might work when it returns. I really liked both articles this week, and thought we got to some interesting topics.

wow seriously? junk trading derives from a combination of natural buyouts and manipulation buyouts.

when an item is bought out (examples: partyhats, a newly announced clan manipulated item), because tomorrow it will be worth more than it is today (and by that reasoning the third day more than the second), people value the item higher than its current market value (sometimes vice versa, esp. with new useful items, like staff of light shortly after release).

when an item that was bought out reaches a critical point and reverts to crashing, because tomorrow it will be worth less than it is today, people value it less than its current market value (sometimes vice versa, like first couple days after climbing boots update).

so now a player who wants one of the bought out items (which yield profit) is willing to take some of the crashing items (junk, which yields loss) in the trade for cash (constant value). the seller who wants to get rid of his crashing items (junk, which yields loss) must add bought out items (which yield profit) to even the sale for cash (constant value).

tl;dr - junk is overpriced and "street items" are underpriced; people sell them together for cash to make the trade fair.

#23
Brett_is_God
[ Display Name History ]

Brett_is_God

    Chicken Feather

  • Members
  • 2 posts
  • Gender:Male
  • Joined:26 October 2010
  • RuneScape Status:None
  • RSN:Brett is God
In response to the Social Networking part of the first article, you mentioned both Jagex's Facebook and Twitter account, however you did not mention that they have a YouTube account as well.
Not trolling in any sense, only making sure more people are aware of this :)
Link - http://www.youtube.com/user/runescape

#24
Wessan
[ Display Name History ]

Wessan

    Scorpion Pit

  • Members
  • 541 posts
  • Gender:Male
  • Joined:15 October 2009
  • RuneScape Status:P2P
  • RSN:Wessan
Is that really all there is of the second article?

I felt as if it was just getting the the meat and potatoes of the issue and then quit.

Yes you may be ignorant and a big change is coming, but what is the plan when it does? We all know its coming, so whats the point of telling us again? Tell us what you contend about the free trade and how you think (as someone who is "ignorant") will deal with the change, as compared to someone who may have profited hugely from 3 years of GE manipulation, or someone who has been biding time since the change.

wessan.png


#25
Earth_Poet
[ Display Name History ]

Earth_Poet

    Scorpion Pit

  • Members
  • 673 posts
  • Gender:Not Telling
  • Joined:31 August 2007
  • RuneScape Status:None
  • RSN:Earth Poet

the reason for the financial meltdown was because the us government was directly forcing these financial institutions to give out loans to people they knew could not repay.

which anyone who has taken any econ or finance classes could tell you is a bad idea.

america needs to teach its congressmen some econ and finance imo.


Could you expound a little on your theory please?
Posted Image

#26
Will H
[ Display Name History ]

Will H

    Tea Connoisseur

  • Members
  • 5,195 posts
  • Gender:Male
  • Location:Blighty
  • Joined:13 August 2006
  • RuneScape Status:P2P
  • RSN:Will Holmes
  • Clan:Clay Gods
Huh, you learn something new every day. I never realised how mandatory basic economics was in US education. As Racheya said, its not required in the UK at all. I'm at university, and I've never even taken a class that could be called 'Economics'.

Frankly, after seeing complicated things like junk trading, it gets a bit beyond me.

EDIT: My God, I'm starting to sound like my dad...

~ W ~


Posted Image


#27
jettrider
[ Display Name History ]

jettrider

    Dark Wizard Robe

  • Members
  • 818 posts
  • Gender:Male
  • Location:Grand Exchange
  • Joined:25 October 2007
  • RuneScape Status:P2P
  • RSN:Jettrider
  • Clan:DGS
Most of the price changes in a game like RS can be tracked to time of day, general highscore trends, game updates, or the price trends of items linked to the one in question (very important in terms of rares). There are factors in common - like how the particular item/stock has done historically - but RS fluctuations are based on easily tangible reasons.

RS has some fundamental differences from a real life economy. Best not to make comparisons but instead to evaluate it based on the factors around you that you do know.

We could discuss these but I'm pretty sure there has been a comprehensive discussion about that at some point here.

2496 Completionist


#28
Ring_World
[ Display Name History ]

Ring_World

    Dragon Slayer

  • Members
  • 5,469 posts
  • Gender:Male
  • Location:California
  • Joined:13 October 2007
  • RuneScape Status:Retired



Yeah, um, basic economics aren't hard to grasp. Part of High School here as well. However, predicting the economy, especially in the short term, is very difficult.

The thing that REALLY gets me about this whole wilde/free trade thing though... Free trade really won't change the economy that much. The items it will effect (affect?) is junk, rares, Nex/Corp only drops.

Have to say, one thing that I think the author was right about, a lot people will still continue trading through the GE.


This is true, and people might stop trading over the GE when buying mass quantities of items, thanks to the good ol' GE limits Jagex decided to keep <_<



And why did they decide to keep them? To stop price manipulation... hah! At least it wasnt a stamp copy of to stop rwting, again.


No... it's to stop monopolies.


yawn, great to stop monoploies but still got the same limits, enjoy your 2 treasure trial items per 4 hours, and other ridiculous limits

#29
Bladewing
[ Display Name History ]

Bladewing

    Dragon Slayer

  • Members
  • 6,072 posts
  • Gender:Not Telling
  • Location:Minnesota, USA
  • Joined:21 December 2005
  • RuneScape Status:None
  • RSN:Stringcheze
100 battlestaff / 4 hour, anyone?

#30
Racheya
[ Display Name History ]

Racheya

    A noob

  • Editorial Panel
  • 7,253 posts
  • Gender:Female
  • Location:Salford, England
  • Joined:17 October 2008
  • RuneScape Status:Retired
  • RSN:Bernkastel

Is that really all there is of the second article?

I felt as if it was just getting the the meat and potatoes of the issue and then quit.

Yes you may be ignorant and a big change is coming, but what is the plan when it does? We all know its coming, so whats the point of telling us again? Tell us what you contend about the free trade and how you think (as someone who is "ignorant") will deal with the change, as compared to someone who may have profited hugely from 3 years of GE manipulation, or someone who has been biding time since the change.

That may well have been a good way to take the direction of the article, yes :) I did feel that I was running out of steam at the end and the first part of the article was written a few weeks before I finished it off for this Sunday so it's hard to keep the flow going. Your suggestion is pretty valid :D

I think that when it does come, I'll just adapt. It won't effect my immediate life as I'll just trade on the GE as much as I usually do but the option of having friends give me more gifts and to help out some of my lower levelled friends is far wider. I've never been the sort of person to 'trade on the street' and I much prefer the GE.


Posted Image
I edit for the [Tip.It Times]. I rarely write in [My Blog]. I am an [Ex-Moderator].


#31
ajdimfv82459askdfjvkm
[ Display Name History ]

ajdimfv82459askdfjvkm

    Spider Egg

  • Members
  • 61 posts
  • Gender:Not Telling
  • Joined:26 December 2010
  • RuneScape Status:None
The first article seemed like it contradicted itself by the end. The thing was very prooly written imo.

As for the second article, I can relate to it. I understand stuff like risings, but with junk trading, from what I understand you basically either have millions of junk in your bank or have to make it all by yourself? And buying would be just plain useless, except to troll the guy buying the divine/etc.

#32
Guest_jrhairychest_
[ Display Name History ]

Guest_jrhairychest_
  • Guests

I'm glad it struck a chord with some people. I know those who can understand the Runescape economy wouldn't really appreciate it as much but everyone has their own perspective, right? :)

Like I said, I get some of the basic ideas but the finer points just leave me. I've never done any sort of economics. In the UK, it's not any sort of required subject at GCSE level. The closest thing would be business studies that some people took, but not that many. At least when I was finishing Secondary School. So all my economic understanding comes from what I've picked up on the internet. I'm a Computer Science student, economics don't appeal to me, but shouldn't they in Runescape? I should take the time to delve more into Runescape economics but I often feel that I don't have the sort of money pile for it to matter (generally around 2m) and, of course, what we say we should do and what we ACTUALLY do are often two very different things ;)


This really depends on whether the subject floats your boat, as you say perspective. I personally never played RS to study the ecomony to its nth degree. I've always played it because it was fun. Sure it comes into play when you want to profit or buy items at the right price but for most of us that's as far as it goes. I get the feeling you're trying to be interested in an aspect that you feel you should but don't particularly want to (Correct me if I'm wrong). I'll leave all the analysis to all those children 'majors' and expert economists that we are so blessed to have posting on the tipit forums, taking the time from their real high profile jobs to tell us how thick and stupid we all are :XD:

#33
TheAncient
[ Display Name History ]

TheAncient

    Black Knight Trainer

  • Members
  • 3,267 posts
  • Gender:Not Telling
  • Joined:27 January 2006
  • RuneScape Status:None
  • RSN:The Ancient
There's a difference between having a BASIC understanding of something and no understanding whatsoever
O wait that difference is mostly just common sense
Posted Image
Ever wanted to find street prices of RS items? Check out the SPOLI Index

Nex Drops: Pernix Cowl, Pernix Chaps, Torva Helm, Torva Platebody, Zaryte Bow, Pernix Chaps, Virtus Robe Legs, Virtus Robe Top, Torva Platelegs, Zaryte Bow, Pernix Chaps, Virtus Robe Legs, Zaryte Bow, Virtus Mask, Torva Legs, Virtus Robe Legs, Virtus Robe Top, Virtus Robe Top, Zaryte Bow, Virtus Robe Legs, Virtus Robe Top, Virtus Robe Top, Torva Platelegs, Zaryte Bow, Pernix Body, Torva Platelegs, Torva Platelegs, Virtus Robe Top

#34
uath13
[ Display Name History ]

uath13

    Rat Meat

  • Members
  • 47 posts
  • Gender:Not Telling
  • Joined:7 December 2008
  • RuneScape Status:P2P
  • RSN:Lord Uathen
  • Clan:The Pendragonate
Runescape economics don't make a big difference to me. I gather all my own supplies & just sell what I make for any decent price ( around high alkie level ). All the free trade will do is make prices on new toys shift a bit & bring lots more bots back into the game. The bots are what I'll hate since they'll be auto competing with me for resources.
Posted Image

#35
jaklumen
[ Display Name History ]

jaklumen

    Ice Giant Melter

  • Members
  • 3,817 posts
  • Gender:Not Telling
  • Joined:6 October 2004
  • RuneScape Status:None
I wish Duke Freedom was still around and active. He'd have a lot to add to the thoughts in the second article. The kid has talent in economics, although that's not his focus of study right now.

#36
Shadow37
[ Display Name History ]

Shadow37

    Rat Meat

  • Members
  • 29 posts
  • Gender:Not Telling
  • Joined:24 October 2009
  • RuneScape Status:P2P
About the first one ('what, not teh economy??'):

I disagree with Racheya. Oftentimes these community events are, quite frankly, pathetic. One my friends summed them up quite nicely: a front page post + one jmod babysitting with public off and talking with the other employees on Skype.

Firstly, I do not recall four updates/month. Even before FT/wildy came out (where they had an excuse to take their time), Jagex wasn't exactly churning out updates. Also: I, for one, don't see the inherent appeal of Ele Workshop 3 and Do No Evil - which add very little to the game (besides the new 300kxp/hr thieving method).
There are many, many issues to address in RS that jagex has ignored. Some of them include the dg auto grouping system. If jagex spent more time on their alts, they might see that dg right now is almost exclusively a lv 130+ activity (a group of lv 80s finishing 2 dungeons total a week doesn't really count). Couldn't they at least advertise this system? Would require only a small amount of their precious time, I'm sure.

Of course, the alternative is that they DO play their game like your average player, but choose to focus on easy stuff, like community 'events', and not on improvements.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users