NP$ System Revaluation - Important

RJ · Apr 15, 2009

Just wanted to make a thread here to make sure everyone's seen the NP$ announcement here:

http://www.namepros.com/namepros-info-and-suggestions-announcements.html

I noticed it didn't allow for comments when I posted it as a forum announcement.

Discuss here if you want!

RJ

clausfehde · May 6, 2009

Hello! I keep up edprobudi and want to ask. Will we have possibility to transfer our NP$ to paypal or something like that? As for me that was helpful function and ability to pay for hosting. And now I don't know what to do with NP's. What features could I get using NP?
BTW: Had approx 101 NP, and now 2.52. If calculate 101 x 0.017 = 1,717. Don't know what is that.

Pound · May 6, 2009

In fact - I've been thinking about this and it's absolutely ridiculous that you suddenly decided to revalue the currency to $0.17. I don't understand why when, for the 3 years I've been here, it has always been $0.20. I understand that it's a cheap way for NP to make money by removing NP$ from the system but you have consequently lost all faith in it (and, for me, NP as a whole) by making such rash decisions without consulting the community.

-REECE- · May 6, 2009

Namepros isn't the one making the money here -- matter of fact, the NP$ were selling for only 0.017 in the days leading up to the changeover, so that's why they were reevaluated as such.

Personally, I like the new system -- many of the providers of SEO/advertising services on Namepros now accept NP$ and Paypal amounts as equivalent which makes it much easier for me.

Pound said:
In fact - I've been thinking about this and it's absolutely ridiculous that you suddenly decided to revalue the currency to $0.17. I don't understand why when, for the 3 years I've been here, it has always been $0.20. I understand that it's a cheap way for NP to make money by removing NP$ from the system but you have consequently lost all faith in it (and, for me, NP as a whole) by making such rash decisions without consulting the community.

Charley · May 6, 2009

NP Balance :- Crash

I had "1945.xx" before the forum changed. Now it shows "33.82".

What happened ?

-REECE- · May 6, 2009

Hi Charley,

Have you been away from Namepros a few days? Namepros put a new system in place that reevaluates the NP$: NamePros.Com - Announcements in Forum : NamePros Info & Suggestions

If you've experienced a crash since the reevaluation, I can get that posted in the mod forum asap so that gets resolved for you quickly.

Charley said:
I had "1945.xx" before the forum changed. Now it shows "33.82".

What happened ?

Charley · May 6, 2009

Yes, I haven't been on the forum lately. Thanks for asking.

How can I pull out the exact previous balance to calculate at the new rate ?

Another question, can I withdraw the balance to Paypal ?

-REECE- · May 6, 2009

Hi Charley,

All the NP$ got reevaluated at 0.017 of the new ones, so if you divide the 33 NP$ you currently have by 0.017, you'll end up back at 1900+. They're now basically worth the same as USD which is why the change was made -- makes it easier to buy services on Namepros using NP$ now because there's no need to do any math.

I don't believe the exchange is up and running yet. I believe RJ was paying $0.012 for buyback before, so I imagine it would be something like $0.70 per NP$ under the new system (not official, I just divided the old amount by 0.017).

Charley said:
Yes, I haven't been on the forum lately. Thanks for asking.

How can I pull out the exact previous balance to calculate at the new rate ?

Another question, can I withdraw the balance to Paypal ?

Charley · May 6, 2009

Thanks, I have more questions.

Is NP paying for each post/thread like before ? Also, I don't see that NP Click page, is that off the forum ?

-REECE- · May 6, 2009

No the pay per post seems to have been taken out -- I know I'm no longer being paid anyway. I'll ask about the NP Clicks.

Charley said:
Thanks, I have more questions.

Is NP paying for each post/thread like before ? Also, I don't see that NP Click page, is that off the forum ?

RareIQ · May 6, 2009

I had actually purchased NP$ from other members in the NP section where members were selling NP$.
I purchased NP$ with good solid Paypal cash with intentions of using the NP$ with the upcoming Auctions. This was the way to pay for domains in those Auctions.
I work a fulltime job and not on NP everyday or every week.
A short time later, I logged into NP, only to find this all had happened and my NP$ TAKEN AWAY and drained and nothing I could do about it. :td: I lost over 200 NP$ ?

RareIQ · May 6, 2009

I lost over 200 NP$ ?

Am I going to be reimbursed ?

-REECE- · May 6, 2009

Hi RareIQ, did you see the message at the top about the reevaluation? RJ just made it so that the NP$ is equivalent to the USD. Your balance was converted to the new system at a rate of 1 old NP$ = 0.017 new NP$, so everything like auctions are going to be much cheaper as well in the new NP$, so it's not like you actually lost money -- just seems that way until you see how much cheaper it is to buy things (like bookmarks or seo services from members here) with the new NP$. Everything has gone down -- not just your NP$ but also the prices, so the effect is essentially zero change.

RareIQ said:
I had actually purchased NP$ from other members in the NP section where members were selling NP$.
I purchased NP$ with good solid Paypal cash with intentions of using the NP$ with the upcoming Auctions. This was the way to pay for domains in those Auctions.
I work a fulltime job and not on NP everyday or every week.
A short time later, I logged into NP, only to find this all had happened and my NP$ TAKEN AWAY and drained and nothing I could do about it. :td:

I was particularly worried about one thing and thought it deserved a thread:

I noticed that there is no longer a second confirmation before NP$ are sent. With them being worth so much more now than before, a typo could result in quite a large tip. Also, there's no confirmation that NP$ have been received by the seller, so people who aren't too observant to their NP$ balance might think they haven't been paid for any sales done.

-REECE- · May 6, 2009

Hi RareIQ,

See my last post in this thread: http://www.namepros.com/namepros-info-and-suggestions/575560-np-system-revaluation-important.html

RareIQ said:
I lost over 200 NP$ ? Am I going to be reimbursed ?

RareIQ · May 6, 2009

So you are saying that my old 200 NP$ is now the same exchange rate in value as my current 1.85 NP$ ?

Gene · May 6, 2009

Nobody lost ANY value. Your current N$ is worth exactly the same US dollar amount as it was previous to the update.

Before: 5882NP$ = $100 USD
Now: 100N$ = $100 USD

So when you look at your balance, there is no longer math to calculate.

RJ · May 6, 2009

REECE said:
I noticed that there is no longer a second confirmation before NP$ are sent. With them being worth so much more now than before, a typo could result in quite a large tip. Also, there's no confirmation that NP$ have been received by the seller, so people who aren't too observant to their NP$ balance might think they haven't been paid for any sales done.

Good point, let's see if we can get confirmation page working.

wangjinhk · May 6, 2009

This is not a good change IMO.Everyone has NP$ lose their money.0.017 is not a fair rate IMO.I am not glad to see the change beacuse I lose money.

---------- Post added at 01:16 AM ---------- Previous post was at 01:09 AM ----------

Gene said:
Nobody lost ANY value. Your current N$ is worth exactly the same US dollar amount as it was previous to the update.

Before: 5882NP$ = $100 USD
Now: 100N$ = $100 USD

So when you look at your balance, there is no longer math to calculate.

But the rate is 0.20 before,now 0.017,everybody lose money IMO.That's not a good idea to change the rate.

Gene · May 6, 2009

The US dollar used to be worth $1.30 in Canada. Now it's worth under a dollar. Economy changes. NamePros is no different.

Peter · May 6, 2009

wangjinhk said:
But the rate is 0.20 before,now 0.017,everybody lose money IMO.That's not a good idea to change the rate.

Go back 2 years and the standard namebuck rate was 0.024 however that was the rate then not now.

The rate has been sitting at around 0.017 for a while. It became quite difficult to sell for any more than that even during times of auctions when the prices historically increased.

This was the most obvious rate to convert from as this was the selling price for namebucks.

As Gene states exchange rates fluctuate not even namepros is immune from the recession at the moment.

snowbird · May 7, 2009

Will the NP$ Exchange system be brought back online? I found that to be a critical asset to the forum for members buying and selling NP$.

At this point I have NP$, but have no easy way of converting them back into US currency. There is no feature as far as I can see allowing me to sell them to a bank like before. And there is no feature for listing your NP$ for sale. Bringing the NP$ exchange back would seriously help other members as well as myself. Some of us are conducting business on the forum such as selling hosting, ad space, etc. Being able to sell those NP$ easily via paypal or some other form of method would be very much appreciated. Without the NP$ exchange, you may begin to see some of those offers disappear.

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