Auctions killing the NP$ economy?

[user-7256]

Hey all,

I know that circulating NP$ usually helps the economy but I think in this case it kills it...

Just before an auction, everybody buys NP$ at great rates but for those of us that don't want to do the auctions but just need NP$ to pay off people in incentives board or to buy charity ribbons, this really bites... prices skyrocket and they don't come down AFTER an auction because while going crazy with the auctions, a lot of participants are 2,000 NP$ in the pot. So, prices stay up high for at least a week sometimes.

I have also noticed nearly nobody selling their NP$ recently at minimal amounts (500 - 1200 NP$ at a time) for decent (.018 or lower) rates...

Anything that we as members could think about before circulating NP$?

Thanks...
-Matt

 

[drifta]

i havnt noticed anything bad...
i remember when NP$ were worth 1 cent or less each
if people are willing to pay .02 per NP$ than people are going to sell at .02 per NP$

 

[unixbro-patty]

Actually quite the opposite is happening if you read your own post again.

Auctions are now being held every wednesday. I for one would like to see the auctioned named be posted 24 hours in advance of the auction.

A lot of good names went for some great prices today. Few bombed but thats expected at an auction.

By having the auctions every week now it should boost the np$ economy. I bid alot today and will need to reload my np$ to be ready for next week.

 

[CrazyTech]

Auctions killing the auctions...now there's a point I'd agree with personally.

As for auctions killing NP$, I cannot quite say that I agree for one important reason. Someone has to pay for the NP$ being sold. If people would lay off of the NP$ transactions prices would come back down. Demand for the NP$ is very high right now and it keeps skyrocketing because people keep paying. Most of these auctions are open to Paypal as well and Paypal is also how the NP$ are paid for.

 

[user-7256]

So basically we've got inflation that's just getting out of control...

I don't like inflation

 

[{insert name here}]

I don't like inflation

No one does, but you can't really avoid it

 

[DropLister]

are you seriously complaining about $.002

 

[robertjr]

I don't like inflation

No one does, but you can't really avoid it

You can run, but you can not hide.:notme:

I love the direction the $NP dollar has gone. NamePros micro-economy is a wonderful thing to watch and be a part of. The dynamic nature of it happens to be one of the things I enjoy most about the forum.

 

[DropLister]

lol robertjr you make $48 when the price goes up $0.001 :P

 

[user-7256]

You can run, but you can not hide.:notme:

I love the direction the $NP dollar has gone. NamePros micro-economy is a wonderful thing to watch and be a part of. The dynamic nature of it happens to be one of the things I enjoy most about the forum.

But you also have over 46,000 NP$

I only have over 200... which is why little increases matter to me a bit more. I'm poorer. heh.

 

[Mark]

I don't get your point at all - and agree with Robertjr (Even though I stay Np$ Broke :p )

The np$ have been at the .019 - .020 range for some time now - and the increasing cost only goes to show the stability of them. I've never been in a forum where the currency was this stable and am pretty proud of it

 

[user-7256]

You can run, but you can not hide.:notme:

I love the direction the $NP dollar has gone. NamePros micro-economy is a wonderful thing to watch and be a part of. The dynamic nature of it happens to be one of the things I enjoy most about the forum.

But you also have over 46,000 NP$

I only have over 200... which is why little increases matter to me a bit more. I'm poorer. heh

 

[jeter4982]

To be honest, I see what you are saying, but don't really understand why...What I think you are saying is that NP $ are worth too much money. NP $ can be used in a lot of different ways now, as it seems both you and me like to spend them on various items including charity ribbons, NP $ incentive threads, domains, etc...Less supply is going to equal more demand, and thus higher prices, but the one thing that hasn't changed is how you can get NP $. You still are earning the same amount of NP $ for posting, about the same amount for completing incentives, and about the same amount for selling domains in the auctions. So now because of the inflation you are actually earning more monetary money for each post, incentive, etc. You just have to remember this when you are using NP $, because 1 NP $ at .015 and 1 NP $ at .020 have different monetary values, and should be spent accordingly...

 

[Mystic]

I see it as a good thing, Your NP are never going to be worthless, They are always going to rise in value, If your worried about inflation, invest in NP then sell when they get to .03

 

[calian]

I see it as a good thing, Your NP are never going to be worthless, They are always going to rise in value, If your worried about inflation, invest in NP then sell when they get to .03

The only thing that would currently prevent that is that -RJ- has set the max price at 0.025 instead of 0.030 where it used to be. I understand he wanted to make the currency more stable but at this point it is beginning to affect the market. It hasn't gotten really bad yet, but at some point it seems like he would want to raise the bank rate back to 0.030.

 

[jmweb]

The rich get richer and the poor get poorer