Credits Exchange

[Captain Jack]

Credits Exchange will be a place where players will be able to trade credits with each other in a free market.

• Who can trade
Everyone can trade in the market.


• How one can buy?
Buying credits will be mostly easy. You will simply enter the amount of credits you wish to buy and the amount you are willing to pay for each. You will prepay the whole amount at the exchange.


• How one can sell?
Every player will be able to either sell on current rate on an instant trade or create orders up to 25M for selling credits and 25M more for buying credits. If a player also has a bank, the limit of his account will increase by 5M per bank level (up to 125M maximum funds).


• Will there be any fees/limits?
-SELLING credits -> Seller pays 0.5% corruption fee -> Seller will need 3 turns to withdraw (all the amount) from the special account. -> Orders will remain for 365 days before they expire -> No cancellation/expiration fees
-BUYING credits -> No fees, gc is taken from treasury at hand

-SELLING Gold Coins -> Seller pays 0.5% corruption fee -> Seller will need 1 turn per created order -> Order will remain for 90 days -> An expired order will cost 0.5% -> Cancelling an order will cost 1%
-BUYING GC -> No fees, gcs are delivered at treasury at hand



• Will I be able to change an order?
No. Only cancel and create a fresh. This is done to cut down on the development time needed but also to keep it simple.


• How exactly it will work?
viewtopic.php?p=28769#p28769

So this is the initial suggestion. Improvements and ideas can still be added. If you disagree with something, please state your arguments. We will allow a few days here instead of discussing it over a long period of time as we are behind (of our own) schedule. So, we want to earn some ground on development on this stage.

[DezNutz]

I think that the exchange should also include a system based sell & buy point. This would give a guarantee of something always being available on the exchange but would be costly for the player to use.

Suggested System Sell & Buy Points:
- Credits sold at 2-4 times average credit value
- Credits bought at 70% of average credit value

[PhoenixKnight]

This sounds more stock based than currency based implementation.
I think a currency price model is more appropriate.

[Shadowood]

I DON'T MATH

Therefore I will stay out of this one.

[Black sparrow]

This sounds more stock based than currency based implementation.
I think a currency price model is more appropriate.

Which it the difference? I think both work in similar way when trading. At least this system reminds me of forexes but I am not an expert.

[PhoenixKnight]

This sounds more stock based than currency based implementation.
I think a currency price model is more appropriate.

Which it the difference? I think both work in similar way when trading. At least this system reminds me of forexes but I am not an expert.

This model is closer to precious material trade rather than Forex.

[DezNutz]

They may be setting it up this way to allow for resource trading in the future.

[Captain Jack]

Speaking practically, what would you want different? This is more or like what Haron suggested in the discussion.

[Admiral Nelson]

Surely, no offence intended; To implement a feature that has been discussed a lot then to discuss another?

A lot of discussing.

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No editing took place, the reply has been left intact
Violations of this post:
1.Administration baiting - post forces an administration reply to something irrelevant to the topic itself
2.Off topic in a development topic

Penalties:
1 Warning, 3 warnings reached, 2nd ban tier -> 3 days ban, Next tier is 7 days

Extra:
Pay attention to how every big implementation works; There is one big discussion every time that helps us (or a player) design the feature. Once we gather enough data, we (or the player) pick the best points and forge the suggestion. Obviously, the final recipe still needs feedback. After all, there is great difference between brainstorming and approving a design.


Extra 2:
This goes out to everyone, please do not derail the topic further. One post is enough. This is an important topic as this is the next big feature we will implement.

Cpt Jack

[Haron]

Having suggested this several times, I obviously welcome such a change. I have a few comments though.

First to DezNutz: I think it's a very bad idea to be able to sell and buy to/from the game here. The only way for credits to enter the game, should be when people buy credits with real money. I very much fear a situation where credits can be bought from the game with gc.

Then to Phoenix: I think this is a good general idea, and it's also possible to transfer to voodoo later. I hope this is just the first step, and that the next step will be a similar market for buying voodoo with credits.

Then to Captain Jack:

A) The fees' sizes. They are too high, in my opinion. I do not see a reason for "anti exploit fees". 5% may really affect the trade. Another issue here is that as of now, credits can be given away with no fee, and transferring money through banks can be done with a very low fee. Thus, with high fees on the "official" market, most players will end up using the "grey market". That was hardly the intention. I therefore think the only fees should be those to the banks, and that transaction fees for ordinary gc transfer should also have a minimum setting, so that the grey market does not become more popular than the "official" market. Later, when a similar system is implemented also for voodoo card trade, other fees ("system fees") could be included. Here, there are no competing "grey market".

B) How to pay the fees? For the gc end, no problem. But for the credit side? Let's say the total fees become 2,5%. If these are to be deducted from the credits, then not only 0,01, but even 0,001 credit needs to exist. I assume trading can only be done with "whole" credits, of course. Or will the fees somehow be "translated" into gc, and the seller have to pay this from his purse?

C) Resolution. I suggest prices for credits have to be a whole number of thousand gc. Thus, a price of 154.000 gc is OK, but a price of 154.854 gc is not.

I'll probably have more comments when I've had more time to think