Credit Trading vs. Item Trading

Has credit trading ruined MyVMK's economy?


  • Total voters
    42

Fix

Coolest Member
#1
What's up! So a few days ago a few of us were discussing how credit trading has kind of "ruined" MyVMK's economy. Like how before credit trading, firewalls were the currency of trades, or cauldrons, ect. Credits were spent through the stores and not player to player. Now because of this, lots of items go for a crazy amount of credits. The value of the firewall has gone way down because no one uses it for trading anymore. There's also an opinion that there are way too many credits in this game so it's really difficult to buy anything of "value" really.
On the other hand, the designers are coming out with so much new stuff every single week that its not like there's a shortage of options for cute clothes, cool furniture, etc.
It's also hard for casual players to get a hold of anything valuable - its impossible to gain any credits really without spending all day playing pirates.
But I want to hear your opinions on this! It would be cool especially to hear from a veteran who's been here since the beginning. I started just shortly after credit trading opened up so I do remember the firewall being the biggest currency, but things have changed a lot since then. What do you guys think?
 

SnoBun

Snob/Official Rilla Grandma
#2
While I DO feel like the prices have gone crazy high these days, and agree it is so hard (nearly impossible) to save up/earn that many credits without gaming for days on end...

I also feel like there is now a fairer chance for all players to eventually get ultras. Because in theory, any player *could* save up 2mil credits and buy a stitch for instance. On OG I remember that you had to build your way up using rares, super rares, ultras, etc. So if you didn't have a particular item or enough items, you were toast in terms of moving up. If that makes sense.

So while yes, perhaps pricing has gotten a bit out of hand...I do appreciate the equal footing credit trading gives all players to a certain extent. I only rejoined in December and already feel I have quite a decent amount of rares/valuable items/an ultra. Credit spending gave me the ability to pay for these items that otherwise I would've needed PAST rares (from before my time) to buy these items.
 

dean

Well-Known Member
#3
Moving from a finite source of a means of currency (aka firewalls, etc) to an infinite source of currency (credits) = inflation. Each day there are hundreds of thousands of credits pumped into the economy slowly but surely making each credit in circulation worth less and less. Having an economy based off credits is hurtful and is discouraging for new players to have their fair share in participating in growing the economy. Even though items now have a credit price, these values are not true. For example: A black flip hat typically is valued at 2 million credits. However, that's not the true value of a black flip hat. Not many players will sell their rare (finite) item for an infinitely sourced item, hence making credits even less valuable and not a trustworthy guarantee for a trade. The true value of a black flip through straight credit trades could easily top 3 million to convince a seller to sell. The seller is always in full control of the trade while healthy economics should flip that idea and items should be only worth what people are willing to pay for them rather what a seller feels the value of their item is worth (which will never be fair), thus making it impossible for newer players to really have their hand in growing their value.

Simple stable economics revolves around supply and demand. As the supply of credits continues to grow, the demand for them will continue to drop, which in turn will continue to raise prices on items and inflate the economy.

This has been a VMK Public Service Announcement. *NOT A DRILL*
 
#4
Don’t blame credits for less firewalls being traded. Most of the firewalls in game were/are hoarded. A lot of them are trapped on accounts of people who were banned or quit, so we have no choice but to trade for credits or other items.

That being said credit values on items are always in flux because people see it go for a ridiculous price once, and want that price for it.
 

shel050

Well-Known Member
#5
Moving from a finite source of a means of currency (aka firewalls, etc) to an infinite source of currency (credits) = inflation. Each day there are hundreds of thousands of credits pumped into the economy slowly but surely making each credit in circulation worth less and less. Having an economy based off credits is hurtful and is discouraging for new players to have their fair share in participating in growing the economy. Even though items now have a credit price, these values are not true. For example: A black flip hat typically is valued at 2 million credits. However, that's not the true value of a black flip hat. Not many players will sell their rare (finite) item for an infinitely sourced item, hence making credits even less valuable and not a trustworthy guarantee for a trade. The true value of a black flip through straight credit trades could easily top 3 million to convince a seller to sell. The seller is always in full control of the trade while healthy economics should flip that idea and items should be only worth what people are willing to pay for them rather what a seller feels the value of their item is worth (which will never be fair), thus making it impossible for newer players to really have their hand in growing their value.

Simple stable economics revolves around supply and demand. As the supply of credits continues to grow, the demand for them will continue to drop, which in turn will continue to raise prices on items and inflate the economy.

This has been a VMK Public Service Announcement. *NOT A DRILL*
But what about the fact that credits are also constantly being pumped out of the system via shop items?

Also, I think the value placed on certain items depends on the players’ definition of what they deem as valuable.
Perhaps some items such as stitch hats are priced so high because players don’t want to supply it and few can buy at that price.

Lastly, I disagree that credit trading makes it harder to gain valuable items. I have only been playing for a few months and I have gathered lots of items that I view as valuable (and am still super excited about) through credit trades.
 
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Fruits

Well-Known Member
#6
I’ve always suggested restarting the game on a clean slate. And disable credit trading on the new slate. However, that would have to be a discussion that the majority of people would agree upon. I think they are trying to fix the credit issue right now with selling pet bases in store for 50,000 credits and coming out with a new Magic Band points currency.
 
#7
Honestly when I first discovered MyVMK in 15', I had absolutely nothing and actually really enjoyed my determination and drive to get a stitch hat. Playing everyday, trading little things along the way. It really didn't take too long to the point where I'd complain either. It was a rare thing, so I thought I'd obviously have to work a little towards it. I ended up achieving my goal a few months in. I met great new people along the way, learned a lot about values and trades, but a surplus of credits? So many people I see all over MyVMK talking about how they are low on credits, if there's someone throwing credits out, lmk, otherwise, we do work for em. Imo I like working for the credits and saving for rares that I really like. If there's any confusion it should be due to the people only wanting rares because they are rare and offering from the jump crazy amounts bc they prolly have crazy amounts of clones hoarding for their shops, but like I said even at that point I still wouldn't complain to the point of diminishing credits. I'll still work hard and reach goals, maybe I won't have 6 copies of the rare but I'll have 1 or 2 and be happy, lol.
 

dean

Well-Known Member
#8
But what about the fact that credits are also constantly being pumped out of the system via shop items?

Also, I think the value placed on certain items depends on the players’ definition of what they deem as valuable.
Perhaps some items such as stitch hats are priced so high because players don’t want to supply it and few can buy at that price.

Lastly, I disagree that credit trading makes it harder to gain valuable items. I have only been playing for a few months and I have gathered lots of items that I view as valuable (and am still super excited about) through credit trades.

The amount of credits being used to purchase items in-game has no relation nor counterbalances how many credits are pumped in-game. I like to use how the economy works IRL as an example. For instance, businesses in the US make billions of new products every day for consumers to spend their money on. However, the US doesn't print more money to counterbalance it. For every new printed dollar the US prints, they destroy that same amount keeping the circulation as close to equal as they can regardless of how many items are produced for consumers to spend that money on. It actually helps provide a stable bottom line for what the economy will consider the price of that item.

For the entire argument that new players can earn credits and have been successful thus far, that's great! However, it works for now but won't work much longer. This model is simply just unsustainable. The short term effects of inflation never truly show their true colors typically until it's too late. My fear is that we continue down the path where we have 2X credits every weekend, friendly pirate games which are giving 700-800 credits every 5 minutes per game, and the payout of regular mini games on regular days are still 2X what they were in OG to begin with. This is an unsustainable model and will continue to inflate prices until credits are worth so little that having even 1 million credits will not give you the purchasing power it did back in 2013-14 (which we are already seeing).

I don't have a simple fix for the problem but I think eliminating credit trading is a good place to start.
 
#9
I joined before credit trading and I'd say its MUCH fairer now. Even though the prices are much higher, if u care enough for an item, you can at least work towards getting it without giving up all your stuff, if you even have anything of value. Before, I rarely took part in trading because when I joined I had no firewalls and I found it really hard to get any. If you wanted anything before you'd have to give up your ONE rare item for it or for firewalls. People would have rooms filled with 100 firewalls meanwhile other players could barely get 2. And new players had little to no chance in getting the stuff they wanted quickly, now you can see a newer player with a whole lot of stuff that they've worked for within a month or two after joining. If it was still item for item, I doubt i'd be taking part in trading much.

My personal experience was this: Before credit trading it was all the virtually rich people with their 1000 FWs and ultras hoarding and trading between each other, and the rest of us with our few kinda almost rare stuff not really even caring about trying to trade for ultras or "move up the ranks" bc it was almost impossible without winning rare things directly, which i personally never had much luck with. Now it seems that anyone who has a goal to get something is working towards it. Yes it might take some time but i think almost everyone takes part in trading now.

I think the biggest change right now (even more than the inflation) is that even though there are mega rich people on here, their status really doesn't mean that much anymore. If anyone wants something enough they'll get it. Before they were just sitting on their firewall thrones with all the items everyone wanted. Now its like: yes you're rich but if i wanna be rich too give me a few months, no big deal.

So I personally love double credits and credit trading a whole lot!
 

Amy

Well-Known Member
Head Administrator
#10
Moving from a finite source of a means of currency (aka firewalls, etc) to an infinite source of currency (credits) = inflation. Each day there are hundreds of thousands of credits pumped into the economy slowly but surely making each credit in circulation worth less and less. Having an economy based off credits is hurtful and is discouraging for new players to have their fair share in participating in growing the economy. Even though items now have a credit price, these values are not true. For example: A black flip hat typically is valued at 2 million credits. However, that's not the true value of a black flip hat. Not many players will sell their rare (finite) item for an infinitely sourced item, hence making credits even less valuable and not a trustworthy guarantee for a trade. The true value of a black flip through straight credit trades could easily top 3 million to convince a seller to sell. The seller is always in full control of the trade while healthy economics should flip that idea and items should be only worth what people are willing to pay for them rather what a seller feels the value of their item is worth (which will never be fair), thus making it impossible for newer players to really have their hand in growing their value.

Simple stable economics revolves around supply and demand. As the supply of credits continues to grow, the demand for them will continue to drop, which in turn will continue to raise prices on items and inflate the economy.

This has been a VMK Public Service Announcement. *NOT A DRILL*
I said that from the beginning, this would have been an issue without credit trading, and I had a solution to it too. I was going to implement this back in 2013 but the staff at the time were so against it they didn't let me. The idea was to have the payouts of minigames increase depending on the amount of active credits in the game, and have the cost of items increase by the same factor. It would have worked great to keep credits valueable, and when the numbers got silly we could have snipped a zero or two off of everything and it would have been fine... I knew it would happen because I've seen it happen many times, oh well.
 
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