Capping Credit Market Price

[sXs]

I don't think we should eliminate the exchange in its entirety.

I would rather see it changed to be a a listing of the banks and their selling/buying prices for credits.

[Lil Lola]

And where is it written that bankers can not and will not manipulate prices? Never heard of cartels?

We have seen the market will sell credits at 450k... now, what kind of fool will spend their own coin driving down that price just to give a few pirates a cheaper tab on raids?

Let those who think the price should be lower spend their coin to force it lower : that is how free markets work : nobody forces you to pay 450k per...and nobody forces you to sell at 200k per either.

Or maybe folk really do want a centralised command economy after all...

I was thinking the same thing, except lucky for us, no business has ever teamed up with a like business to set the price of a product forcing the government to enact anti trust laws to combat such a thing. I guess the nice thing is you will have different groups who want to undermine the other, so that could lead to competitive price setting/matching


It seems to me that the best way bring prices down is to stop buying things that are too high. If I see voodoo thats priced higher than i am willing to pay, I dont buy it. That may mean i dont get to do what i want to do for a few days, but the things i need will come back at a price im good with.

Well that’s a good point you made. If only there weren’t those pesky other bankers who probably wouldn’t team up with you to screw the little guy. That way there would be no need for anti-trust laws. Seems like there are quite a lot of good-hearted decent people who aren’t guilt tripped into helping their fellow man but do it because they can.

[Most Lee Harmless]

There is almost 7 billion of gc chasing credits in the market : there are less than 1k of credits on offer. That is the 'balance'. That is the current state of supply and demand.

We do not know how many credits flow into the game from player purchases. Nor do we know how many flow out via the various credit sinks : permissions, voodoo packs, turns, etc.

What is left in circulation, in hand or locked in inactive accounts, is a mystery to us all cos CJ will never release those figures.

The market is the only guide and it is starkly plain : there are not 7 billion gc of credits left from players needs to be considered worth selling at the prices on offer. Supply and demand rules markets, not guilt or fairity. That it may leave players unable to play as they wish to is not the markets fault : there is too great a gap between supply and demand and that is what needs addressing.

Solutions? Go buy more credits and inflate the amount in circulation. Stop spending credits in 'sinks' that remove them from circulation. Change your playing habits to become less reliant on spending credits.

Apart from that, the 'solution' is enforcing a notional value of exchange, keeping the gc price of a credit artificially low. Which may not encourage a single extra credit to be put on the market : it may well make more sense to 'sink' them and thus remove them ftom the game and so, structurally, the issue is still not resolved, just hidden.

[Sir Henry Morgan]

One thing we all forget is one technically does not need the CRX or bankers to buy/sell credits. The CRX and bankers simply facilitate a safe transaction. The cost of a safe transaction is higher costs and manipulation.

Before the CRX, and only bankers made the exchange secure, the private transaction was popular - it was tougher to always find what was needed, but one knew who they were dealing with, and trust was a huge part of the transaction.

Bottom line, the CRX is un-needed and a toxic market - one can be selling credits that will buy voodoo that will be used against you or your mates. It is also a gold coin stash - no bank required, just a stupidly low bid for 500+ credits.

At the very least, if buy and sell offers on the CRX were frozen like ships are when put on the market, value that would stop gc stowing and slow price manipulation somewhat. People would begin using the other two choices - banks and individuals - to trade credits.

...so one can just boycott CRX.

[sXs]

There is almost 7 billion of gc chasing credits in the market : there are less than 1k of credits on offer. That is the 'balance'. That is the current state of supply and demand.

We do not know how many credits flow into the game from player purchases. Nor do we know how many flow out via the various credit sinks : permissions, voodoo packs, turns, etc.

What is left in circulation, in hand or locked in inactive accounts, is a mystery to us all cos CJ will never release those figures.

The market is the only guide and it is starkly plain : there are not 7 billion gc of credits left from players needs to be considered worth selling at the prices on offer. Supply and demand rules markets, not guilt or fairity. That it may leave players unable to play as they wish to is not the markets fault : there is too great a gap between supply and demand and that is what needs addressing.

Solutions? Go buy more credits and inflate the amount in circulation. Stop spending credits in 'sinks' that remove them from circulation. Change your playing habits to become less reliant on spending credits.

Apart from that, the 'solution' is enforcing a notional value of exchange, keeping the gc price of a credit artificially low. Which may not encourage a single extra credit to be put on the market : it may well make more sense to 'sink' them and thus remove them ftom the game and so, structurally, the issue is still not resolved, just hidden.

"Change your playing habits to become less reliant on spending credits."

---We already have that.... piracy has basically died off because of the cost of Voodoo and credits. Has that been good for the game? Pirates Glory... with no real pirates?

"Stop spending credits in 'sinks' that remove them from circulation."

--- Again.... credits and credit sinks are the reason this game exists. Without them, the game dies. CJ has bills to pay associated with running this game. I would think if you enjoy it enough to stick around this long you would be willing to support it from time to time.

----I have. I enjoy... or enjoyed.... the game enough to drop a good hard earned penny or two into. The only way the game survives is for people to do this. I still do not understand the stigma associated with spending to support something you enjoy. The issue now is the cr are not being circulated, they are being hoarded or used to buy more voodoo to sell on the voodoo market at inflated prices as well. Everyone knows it is happening and the only way to stop it is to refuse to use any of the markets. That is possible but pretty unrealistic how things are structured. Especially for pirates.

[William one eye]

There is no reason players that do not currently like the credit market, could not just trade credits black market style. Right now.

Currently
Banks cannot sell credits for cheaper than the market and keep them in stock. But what if banks could buy and sell them by contract at set rates to specified players, or guildmates, or players of their nation.

I feel like this would give banks back some control over credits or at minimum make them somewhat competetive against the credit market

[Argo]

There is no reason players that do not currently like the credit market, could not just trade credits black market style. Right now.

Currently
Banks cannot sell credits for cheaper than the market and keep them in stock. But what if banks could buy and sell them by contract at set rates to specified players, or guildmates, or players of their nation.

I feel like this would give banks back some control over credits or at minimum make them somewhat competetive against the credit market

lol.. I replied to SHM new thread.. and said pretty much this
I would like to see the banks promote themselves - (contact MIAB for advertising) - get some good old fashioned competition going between banks!!

+1

[Most Lee Harmless]

I have a bank that can trade credits.
I have credits to sell.

Please tell me why I should sell them from my bank for less than I can get in the market?

There is no sound reason to do so save some notion of 'helping' other players. Again, what purpose does that serve : why would I want to help pirates run their raids more profitably? I am their target, after all. I have already had to modify my playing style and choice of ship and style of fleeting to accomodate their depredations. Now I am to subsidise them too?

[Meliva]

well, if a banker sells for cheaper then the market, folks will just buy them out, then resell them. Or just hoard them. And since credits just keep rising in price, might as well get ahead of the curve and set a high rate. Last time I bought credits on the market, it was at 352K each. It's now almost 100K higher then that. That is quite crazy. Yes, there is supply and demand, yet to say that alone is driving the price up does not seem likely to me. Folks are pushing the prices up. Some say "well why don't you push the price down if you don't like it" even though to do so is both just more market manipulation, and detrimental. I really think something needs to be done. Boycott might help if enough join in. A Settling on a standard max and minimum price could be a good solution. Freezing assets in the market could also work. Or maybe a combination. But we shouldn't just sit and let the market continue to get pushed higher and higher. How long until 1 credit for 500K is the new minimum?

[sXs]

well, if a banker sells for cheaper then the market, folks will just buy them out, then resell them. Or just hoard them. And since credits just keep rising in price, might as well get ahead of the curve and set a high rate. Last time I bought credits on the market, it was at 352K each. It's now almost 100K higher then that. That is quite crazy. Yes, there is supply and demand, yet to say that alone is driving the price up does not seem likely to me. Folks are pushing the prices up. Some say "well why don't you push the price down if you don't like it" even though to do so is both just more market manipulation, and detrimental. I really think something needs to be done. Boycott might help if enough join in. A Settling on a standard max and minimum price could be a good solution. Freezing assets in the market could also work. Or maybe a combination. But we shouldn't just sit and let the market continue to get pushed higher and higher. How long until 1 credit for 500K is the new minimum?

This is why the CRX needs to be shut down.

Banks should have a negotiate mechanism like operating permissions for plantations. If a banker puts credits for sale now on their exchange, someone can buy them without prior notification. This causes bankers to list at or actually higher than current CRX rates to protect themselves.

If they could list they have credits for sale, then someone should be able to place a bid like they don for OP for plantations. Then the negotiating can begin.