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Rares:Inflation & Manipulation

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Mr Gatsby

Mr Gatsby

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Elon Musk said :
As a previous owner of Red and Green Phats.
Jagex should do something about the current price of Rares.
10bil per phat is understandable (to say the least), but 22bil-55bil for each? That is disgusting to even look at. New players can't ever get a Phat without taking the Microtransaction route.

Yeah, it's to the point that anyone with a partyhat wouldn't want to sell out of fear of missing out and people basically have to stake or take the microtransaction route (and for the few who are willing to spend thousands of real currency for a partyhat, I doubt most are buying bonds).

Of course prices are bound to increase so not a surprise that phats increased by x1.5-2 but now they are x2.5 with few (relative to the market) people trading them.

Everyone is in merch & hoard mode, and there's this mentality that if cheaper rares go up the more expensive rares must go up too even though those more expensive rares have already gone up. There are other factos contributing to these prices but not really demand based, simply put it's a seller's market so even if there are just two people buying a party hat and five selling, those two end up paying up and the 100s of others become dissuaded from selling (maybe at a higher price they say). Hopefully, this new boss on Monday will give people something new to do and new items for people to spend on. W2's local swapper on the SW block, Trades broker, and PvP Events Host

Gatsby#8485

06-Dec-2020 17:28:51 - Last edited on 06-Dec-2020 17:43:21 by Mr Gatsby

Mr Gatsby

Mr Gatsby

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Elon Musk said :

Doubt Jagex will do anything though, because they don't care.


Yeah, they certainly won't do anything in regards to this unless a sufficient amount of people show they are interested in seeing some change - no point in wasting dev time for an issue that seems to only affect a minority but i'm sure most people are interested in rares. I tried to get some support for shard pack accessibility , which is but couldn't get much traction.

Some people who've I spoke with like the idea but feel like it's just a waste of their time to log into forums and support something that ultimately won't be implemented which seems to be the general sentiment about any issue that has to do with rares. There are plenty of good suggestions on this thread and others but if a mostly minor update can't get any support or attention, I doubt the more major updates will ever get implemented (other than a new currency, that might happen but it will probably hurt things more). W2's local swapper on the SW block, Trades broker, and PvP Events Host

Gatsby#8485

06-Dec-2020 17:42:40 - Last edited on 06-Dec-2020 17:43:53 by Mr Gatsby

Mortality
May Member 2023

Mortality

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Rares are shooting up in price because of the insane inflation going on and rwt, not manipulation.

I do not condone rule breaking but a great indicator of rs3 inflation is the retail cost of rs3 gold. Right now its ~50% less per mill than it was just 2 months ago, and as a result phats are ~+50% for the same period.

People realized that RS3 rares are a better store of value than XP or any other item. Reasoning:
- XP rates consistently increase over time
- Utility items become obsolete over time
- Rares have a limited supply

If Jagex does anything to artificially devalue rares that would be terrible and reminiscent of 2007 when Jagex meddled too strongly in the market and basically destroyed their community

06-Dec-2020 20:12:48 - Last edited on 06-Dec-2020 20:38:12 by Mortality

Mom
Apr Member 2012

Mom

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I feel like mimicking Osrs' staking system would go a long way.

Obscenely rich stakers are just using phats as staking currency at this point and would have no use for hats if they had a real alternative

The Duel Arena tax would also provide a nice gp sink

06-Dec-2020 21:38:43

Raphtalia6
Oct Member 2017

Raphtalia6

Posts: 1,134 Mithril Posts by user Forum Profile RuneMetrics Profile
i think removing the option to stake items would devalue rares without releasing more of them, wouldnt this be the perfect option to counter rwters and fixing the price spikes?. trusting certain pc lists or prices of items or websites that dont belong to jagex will get you into trouble notice: external websites and trades are your responsibility, dont get fooled!.

06-Dec-2020 21:51:14

Meowing Cat

Meowing Cat

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The problem with the price manipulation of rares, tokens etc. is soley the duel arena. and a massive artificiel influx of wealth that don't exist in the game from people turning to item staking since the GP's don't have enough value. even shard stacks are too small now. aka you can't even buy a Blue Phat with Shards anymore. tbh i personally just want the RWT arena gone. it serves no purpose but a ''Gambling not gambling'' place for addicts and scammers. and with finally more support from content creators i hope to see jagex take this serious and finally remove the last traces of player run gambling in the game. only both OSRS and RS.. its the only way to fix this inflated(money wise) game. Meow, Meoow miv moaw. **hhhh SHHHG MOAW MIIIIVVVVVVVV! =^.^=

07-Dec-2020 00:05:41

Mr Gatsby

Mr Gatsby

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Mortality said :
Rares are shooting up in price because of the insane inflation going on and rwt, not manipulation.


I would say rwt is the biggest factor now, but part of the inflation was propagated by manipulation early on, in terms of fake posting and such. Probably should get the post title renamed though. W2's local swapper on the SW block, Trades broker, and PvP Events Host

Gatsby#8485

07-Dec-2020 04:37:53

Mr Gatsby

Mr Gatsby

Posts: 4,735 Adamant Posts by user Forum Profile RuneMetrics Profile
Raphtalia6 said :
i think removing the option to stake items would devalue rares without releasing more of them, wouldnt this be the perfect option to counter rwters and fixing the price spikes?.

Something needs to be done to counter the rwt and gambling contribution to the price rises for sure. I don't think the goal should be to just devalue rares (which I don't think is what you are saying to do) for the sake of devaluing them but yeah.

Perhaps a tax would be better suited as a first step though because although people don't currently really use the arena for other than gambling, it could be used for risk fighting outside of pvp areas. W2's local swapper on the SW block, Trades broker, and PvP Events Host

Gatsby#8485

07-Dec-2020 04:47:18

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