So what is it then if not inflation? If you could purchase 400 BC for the same amount of gold at a previous point in time and now the same amount of gold can purchase 100 BC then what is it if not your gold losing it’s value on the BC exchange? What other term than inflation you suggest we start using to describe rising pricing?
If there is so much gold…and the gold is a reason why we have inflation. Why do we have 400g per 95 BC?
What term do you want me to use based on what? The supply chain of BC was huge in that it sells for min price even though we have more access to gold. Supply is higher less demand for an item because there was no content to buy pheons with.
If you are trying to say BC deflated… but the gold inflated… it doesn’t make any sense mathematically. Is that what you are trying to suggest here LOL. There is “GOLD” inflation but somehow it doesn’t register with BC pricing because… my dog ate it.
You didn’t answer the question. Let’s say you are right and obviously all 15 people and those references to actual academic descriptions and definitions are wrong.
What is your proposed alternative to the word inflation - which was coined as a term to describe rising prices - is to describe the phenomena of rising prices? What other word would you find acceptable to be used in this context?
Another make belief definition? 15 people… Is this definition called “The Price Increase” and the other parts are omitted?
There is no alternative because it doesn’t exist in this game. “Inflate or deflate to what standard”. What is the rate?
The economy is moved by supply and demand similar to every economy that doesn’t involve a middle man also called Government Regulation and includes Banks. When you have a middle man (interest rates, taxation etc) the value tends to get higher.
Can’t you just say the price increase/decrease depending on the circumstance? Don’t make yourself look smart because you are a frequent Twitch viewer.
Again why did we have 400g per 95 BC when there are soo many bots and players pumping a lot of gold into the economy? The bots were literally bragging about how much money they made with their bots. We have far more access to gold from rapports, quests, etc. If your gold inflation theory really exists. Btw I put into perspective that 95 BC is worth 1 Greater Honor Leapstones.
So you can’t propose an alternative to the word inflation but you can repeatedly state that the use of the word makes you mad. Am I getting it right?
Right. So quoting the definition of inflation and deflation is correct but using the word inflation and deflation is incorrect?
Because when you use inflation and deflation it has to have a standard. In a mathematical formula it should make sense. We don’t have standard pricing and anyone can change it depending on their needs or that supply with BC when the game first started.
By the looks of how you dodge this question:
I can only assume you have a different meaning behind “gold inflation” a very convenient meaning. This means it’s always true until the BC doesn’t reflect the gold “inflation”.
If inflation means rising prices why is it incorrect to describe the phenoma of rising prices as inflation? What standard do you need to have for inflation to occur?
You can use the following formula to calculate inflation:
[(New Price − Original Price) ÷ Original Price] × 100
Does this formula not work when you replace the prices with items sold in Lost Ark? If so why not?
My man just wanted to know when to buy some gems cause of prices going up and down and he got a full on discussion from the jedi-council xD
I like it. You rarely witness people arguing with arguments, back and forth without trying to cuss or insult the other one
I bet he doenst even read the thread anymore^^
LOL you meant if it’s truly devaluing your currency then every item has to be higher than what are you normally paying: gas, food, electricity, almost all your services etc.
That is what inflation rate is:
Again it is not just because I went to a fine dining restaurant use your formula and say hey it is so expensive what it used to be… there must be inflation. The value can be different… what if a star chef is out there making my food.
That is you and I know there is definitely inflation in the U.S. is because everything is high.
General inflation in a real market is calculated by choosing several hundred items and measuring how much more expensive or less expensive they got compared to a previous point in time. It is arbitrary. They can include the price of toothpase in it even though I’m pretty sure there are people who don’t brush their teeth or they can include price of fuel even though there are people who may walk everywhere.
You can make the same calculations in Lost Ark. There is absolutely nothing preventing you from picking your own arbitrary set of items and use the mathematical formula to work out the inflation rate. On average the prices of items have gone up significantly over the months.
Your definition of what inflation rate is false. Inflation rate has nothing to do with you going to a fine dining restaurant over a cheap buffet.
Thanks for elaborating your formula is FALSE That is the reason why I made that comment regarding dining in the first place.
I never compared a cheap buffet to a fine dining experience. I clearly said the price is up — compared to what I used to pay.
The price of BC just went back to its original highest point at least for most servers.
What average are you talking about? We were hovering 1 gold each for a huge portion of gameplay?
All honor leapstones are down.
The only ones that are going up are Powder of Sages technically we all have 10x limits. Fish because bots were destroyed in NA-W.
Going back to this subject why are you saying there is gold inflation when BC can’t reflect it?
It is not my formula. That is the textbook formula for calculating inflation for certain items. If it is wrong what is the correct formula for calculating inflation?
In this post you have linked a graph. Are BC prices lower or higher in June 22 compared to Jan 23? Y/N?
So your textbook is telling me there was inflation my dollar devalued when I got a higher bill in the restaurant. This proves there was inflation the moment I stepped into the restaurant. LOL.
You telling me there was inflation when players were paying for 200g per Marvelous Honor Leapstones and now… there is still inflation when players are paying for 160 gold per piece.
I can’t stop laughing.
Are players paying 800gold per tap on June 22? Y/N?
Whatever the context, inflation represents how much more expensive the relevant set of goods and/or services has become over a certain period. It is unlikely but if your country considers the price of the bill in that specific restaurant in their inflation calculation and if every other item in the set rised in price or stayed at the same price then yes the official data on inflation would show a slight decrease of your dollar value. It is how averages work and how the calculation works.
Depends on the player and what ilvl they are on.
Wow… and you see it in the game right? Which items are going up?
1475 don’t even have that average per tap don’t kid yourself.
Skin prices, BC prices, accessory prices, gem prices, certain honing materials like shard bags and legendary engraving prices have gone up significantly compared to last year.
Inflation is not calculated for the average. If 70% of the people see their wages rise by 10% and as a result the price of certain goods also increase by 5% obviously people who receive pensions or disability benefits or minimum wage will see their income diminish in value.
It works the same way in Lost Ark. The 6 character gold limit was introduced since there was a large enough proportion of players who completed legion raids on much more than 6 characters and in general the prices adjusted to it. Obviously those who played only 3 characters are in a huge disadvantage in an economy like that.
Most of what you said is dependent on the whales/spenders.
A lot of whales have more access to gold because they sell skins, bc. I personally spend less than 80k gold for my 5/3. I don’t about others requirement for their accessories.
Like someone already pointed out the Gems actually went down in price they used to be 800k+ gold
What wage increase are you talking about in the 1445 range? LOL Are just spurting more b.s.
Wait are you saying the gold whales or spenders make are the cause of what you believe is inflation… because you don’t have access to this gold? Where they were paying for overpriced accessory to get 5/3? Is this the narrative here.
It is not coming from in-game… it’s from outside sources accumulating gold to what they sell. Not everyone that makes gold focuses on progression, some including myself buy costumes. You don’t call the increase of Bitcoin when it was going up “inflation” because it accumulates investors in that project. The value of a Bitcoin is from an outside source. Do you get this?
It’s because of the Boss rush change too I’d imagine, they now have to hone up to 1375 to farm gem boxes