The Gem Conversion Rate, What Just Happened?
"This webpage is not available" I can’t seem to access gw2tp.com right now...
https://api.guildwars2.com/v2/commerce/exchange/gems?quantity=10000
{"coins_per_gem":1424,"quantity":14241082}
which would mean 100 gems cost 14g24s
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I have no idea what happened, but this increase, happing parallel to the remove of the graph-display ingame, smells fishy.
I’d like to get a official response to why this spike occurred just now and in such intensity.
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I have no idea what happened, but this increase, happing parallel to the remove of the graph-display ingame, smells fishy.
I’d like to get a official response to why this spike occurred just now and in such intensity.
This spike occurred because lots of people bought gems with gold, which is quite common, when a new patch goes live.
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I have no idea what happened, but this increase, happing parallel to the remove of the graph-display ingame, smells fishy.
I’d like to get a official response to why this spike occurred just now and in such intensity.This spike occurred because lots of people bought gems with gold, which is quite common, when a new patch goes live.
And on top of it they likely had to buy more than they needed due to the new exchange. We all know the more gems are bought, the quicker the rate goes up. Another lovely side effect brought to you by Exchange 2.0™, more severe spikes.
Bright side, if there is one, the spike was big enough to recover your gold if you bought before the patch hit. Not so much anymore as the rate is recovering.
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RIP City of Heroes
RIP City of Heroes
Yeah, I made a post about this on the main forum. Still, it’s extraordinary just how BIG the jump was, and it actually lends strength to the arguments of the players who took offense to the claim that “players who buy gems in quantities below 400 are low”.
Still, latest word is that they are looking at changing the UI and putting in an option to buy/sell custom gem amounts, so let’s put down the torches and pitchforks.
Well I can guarantee you that I’m not a part of this increase. I’m boycotting gem purchases until the UI is in such a state that I’m happy with it and I believe again in the good intentions of Anet/Ncsoft.
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This thread is more about the spike and it’s causes than discussing the new exchange. Yes the two are tightly coupled but we will be getting a resolution to the design oversight sometime in the near™ future.
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RIP City of Heroes
RIP City of Heroes
What do you guys think?
I think you’re making baseless claims due to the fact that you don’t understand how the Gem Exchange works.
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greed happened. nothing unexpected.
raise minimum border for gem acquirement → higher gem flow → higher gem price → more incentive to convert gems to gold → more moneyz for anet/ncsoft
similar minimums may exist when taking loans in order to guarantee a minimal gain (that the bank deems lucrative) for the bank/shark/whatever or buying into investment-fonds, trusts, etc.
“no pennies, dollars or gtfo”
(edited by zaced.7948)
The fact that this jump was 10x more than any previous jump associated with any patch I’m going to say this was price manipulation (or a bug) introduced with the changing of the gem conversion UI.
There is simply no other reasonable explanation. There was no big hype or super awesome items introduced in this patch to explain such a spike. Even the beloved SAB didn’t introduce half as big a spike, and the population is certainly much smaller now.
The population does not matter as long as the ratio between gem to gold and gold to gem traders stays the same.
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To save others from the search I just went through, here is the official response Zaxares mentioned:
The fact that this jump was 10x more than any previous jump associated with any patch I’m going to say this was price manipulation (or a bug) introduced with the changing of the gem conversion UI.
There is simply no other reasonable explanation. There was no big hype or super awesome items introduced in this patch to explain such a spike. Even the beloved SAB didn’t introduce half as big a spike, and the population is certainly much smaller now.
Really? It was roughly a 30.2% surge over 3 hours. When the anniversary sale hit at the end of August the surge was 24.8% in 3 hours. It’s not unheard of.
We are heroes. This is what we do!
RIP City of Heroes
RIP City of Heroes
A minor factor may be that you can’t see that easily that it is a current spike when buying gems. Before you might have waited just a day or two if it looks like a spike, now you have to watch the gem price regularily to do that or use a 3rd party site.
Not that difficult. I have one bookmarked for quite some time now. It was more useful than the one provided by the old exchange. Spidy was better but that broke mid August when the reported rates drifted away from their actual values.
We are heroes. This is what we do!
RIP City of Heroes
RIP City of Heroes
It looks like prices have settled back down from their peak. (Alas for me, since by the time I got back home, I could only sell 100 gems for 12g. Since that’s below my new sell point, I passed on it for now.)
The interesting thing to see is if gem prices have reached a new permanent higher plateau, or whether they’ll fall back to below 100 gems for 10g as it did after the 2nd Anniversary sale.
It’s not about trying to “beat the system”, it’s about controlling how much you are willing to buy and sell at one time. The “new” system takes that away and says you can only buy and sell specific amounts. So ANet took away control from the players and presented options they thought were reasonable. The way parents curate their kids Halloween haul.
Now ANet has said that they are modifying this new exchange to allow players to once again have control as well as having predetermined exchange choices and according to a recent post from Gaile, it will be reasonably quick. My anger has subsided and now I’m simply biding time until control is once again returned to me.
We are heroes. This is what we do!
RIP City of Heroes
RIP City of Heroes
They knew I was on the fence about my gems→gold purchase, and decided to give me a push!
(edited by NonToxic.9185)