Isk is already backed by the most important commodity. Time.
1 Like
Wish I could like you twice for that. That’s a ■■■■■■■ high quality post if I ever saw one.
1 Like
Inflation is another form of the PvP ratrace. It is fine.
Well…you probably should, at least some, as the overall effect of PLEX on the game you play (and not in a vacuum, if you’ll pardon the pun) is fairly significant.
That’s not really something to be proud of, friend…
Directly? Fine, certainly. I personally advocate for players to do that rather than fall into the trap of making EvE a second job just so they can make EvE a second job the next month.
The problem is the surprisingly common thought that paying a subscription directly oneself is somehow morally superior to a player using PLEX for their game time and that players PLEXing their accounts are “freeloaders” and “parasites” not contributing to CCP/EvE.
The PLEX in the game is bought from CCP for real money because a demand for it is created by players wishing to use ingame money to exchange for game time…in that way CCP gets real money as a result of players PLEXing their account.
In fact, 30 days gametime of PLEX costs more real money than 30 days of subscription (and costs even more if one buys longer periods of subscription)…so CCP is of course actually getting a bit more real money from players PLEXing.
1 Like
The little I know about plex is I thought it is used for buying skins
[/quote]
That’s not really something to be proud of
[/quote]
I am so proud I am even proud about the things I don’t know. 
Good points thanks for the free education!
One thing you should understand (assuming you don’t understand it - it seems you don’t but I could be wrong) is that all PLEX in-game comes from CCP. A player must buy PLEX from CCP. That PLEX gets loaded into the game. The player can then choose to sell that PLEX on the market for ISK. But the point is, ALL PLEX IS ORIGINALLY BOUGHT FROM CCP.
True. This is why I proposed the PetroISK.
1 Like
Yes and CCP is ignoring those who pay for the plex in favour of those who buy it on the market, which means less people will buy plex and its price will continue to rise.
There is absolutely nothing wrong with anything I said. When I kill a rat and get paid a bounty, the ISK is created out of thin air. It is not created out of time. There is no commodity in the game called ‘time’ that is boxed up and exchanged for ISK. And the same process occurs with all the central banks of the world. They wave a pen, and create money out of thin air. The pen is indeed mightier than the sword.
It is also not self-regulating.
I don’t think there’s any debate that there has been massive increase in ISK supply over the years. There’s certainly been increase in the price of PLEX.
I didn’t say this happened in the 1930. This happened in the early 70s under Nixon. There are numerous sources I just consulted online, and they all say the same thing. I will quote one here:
<<When the United States stopped selling gold to foreign official holders of dollars at the rate of $35 an ounce in 1971, it brought the gold exchange standard to an end. In 1973, the United States officially ended its adherence to the gold standard.>>
I don’t see how there could be a flawed understanding of how money is created in game. It is one of the easiest things to understand that there is. There is nothing complicated or difficult about it at all. When a bounty is paid, the computer program (server) adds ISK to your account. The ISK is created “out of thin air” much the same as the Federal Reserve does it.
1 Like
Actually The US Fed is a private company, it creates nothing. That is the treasury that creates money out of thin air.
1 Like
We agree that the Fed is a private company. From what I understand, the Fed is the entity that creates the money out of thin air (basically it creates and issues it’s own private currency, and it has monopoly powers to do so), but for our purposes here it really matters little whether it’s the Fed or the Treasury or some other entity.
You are talking about the supply of money, this is done by offering more or less money on the overnight cash rate. So banks have more or less money to spend. That is the Fed.
Deciding to print/supply an extra Trillion for circulation and so weakening the existing currency is the Treasury.
1 Like
Fine. Again, it matters little for our purposes here whether it’s the Fed, the Treasury, or the ‘money fairy’ for that matter. The point is, whoever or whatever is creating the money, it’s being created out of ‘thin air.’
No. This is like saying if I go and pan for gold I’ve created it out of thin air. I spent time doing it and also incurred other costs. Time has value. Whatever you do with your time you had to give up something else–i.e. opportunity cost. This creates a situation of trade-offs. What do I get for my time, what other thing could I have done with my time. So there will be an equilibrium.
Now…fiat currency–i.e. real world money. That is pretty much created out of thin air. We all believe it has value because we believe it has value and we trust the government not to go full retard and print tons of it like Zimbabwe.
Yes. But that is true of everything in all economic situations. My actions have an effect on the market process. So do yours. So this isn’t a major problem per se.
Yes, inflation is bad. Yet shockingly it has not been a major problem. Look at the MERs and the CPI is has been pretty flat since about 2012.
IMO, if anything CCP ended the blackout because of deflation. You have the wrong end of this stick…
It sure is. Look at the MERs and the CPI. There was remarkably little inflation there since 2012.
Sure, but if there is a massive increase in the game’s real economy then it isn’t a problem in terms of inflation.
And so far for 2019 the ISK supply has actually shrunk…we are back at pre-2019 levels. A shrinking money supply and a economy that is growing or not shrinking means deflation which is also bad, maybe worse than some inflation.
See that decline starting in June 2019. That’s an “Oh ■■■■!” Moment.
Right, but those aren’t petro-dollars. A petro-dollar is when a US dollar is spent buying oil from an oil producing country.
Not until you spent the time killing the rats. Your time is valuable…in fact it is the most valuable resource you have.
If gold was the universal medium of exchange, and if some central entity had the ability to snap its fingers and create endless supplies of the stuff, yes, it would be the same thing. However, there are some differences in the real world.
In our world gold is a scarce resource. Yes, more of it is created ‘out of thin air’ by gold mining companies all the time. But there is a limited supply of gold on earth, and they can only create so much (and in fact they do only create ‘so much’). They can’t just snap their fingers and flood the earth with trillions of tons of it. Also, since gold isn’t some universal medium of exchange, the effects of ‘gold inflation’ are limited, although sure, you could construct a scenario where there are greater effects.
I think you are saying that botters/multiboxers create a lot of ISK inflation in-game with their activities, and this drives up the price of PLEX for legit players who want to buy PLEX in-game on the EvE markets?
Absolutely this happens.
Up until 1973 gold was important for monetary regimes.
So is time. When your time is up guess what we do with you…we throw you in a hole in the ground and throw dirt on top of you. Time is your most precious resource.
And you cannot snap our fingers and flood EVE with ISK.
This topic was automatically closed 90 days after the last reply. New replies are no longer allowed.