NP$ System Revaluation - Important

[RJ]

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

 

[unknowngiver]

just wondering, will we earn n$ for posts? or buying/selling will be the only way of earning n$

 

[turnhardtoeasy]

thaz a pritty good thing but it will affect new comers like me.....
I bought my 1st domain through np's as i earned them out here...
bidding was great but i wonder if there is a price change like this then newbie' s would find it a bit hard..... and what about people who get their delicious bookmars done for 3 npss...
and would everyone give importance to the sam 0.03 np(after revaluation ) per bookmark adds.... ?
i feel it might get trouble some for some of us...
I was motivated and m in love with the forum as it gave me a good go and
i got everything here without investment... so would it still be possible after revaluation for newbies like me to get some good domain names for small amount....?

----
but 1st of all....
yeppi.... its my 100th post...

 

[krishmk]

RJ, I am always "not flexible" to changes...
But I understand its a part of our life.
However I have 2 questions.
a) After May 1st - Can I sell the new np$ via the bank for 0.17 US$? or its gonna be a different pricing?

b) Also Can the buyers & sellers fix their own price (for bids & offers) for NP$ exchanges or everyone has to adhere to the standard price of 0.17 US$?

 

[dmi]

Do you mind telling us the reason why you're doing this?

 

[RJ]

krishmk and turnhardtoeasy, after May 1 you will still be able to transact with other members using NP$ as you do now. The amount will simply be a little different. Using turn's example, instead of paying 3 NP$ for a bookmarking service, you may want to offer $.06 instead. Will this turn off some members who work on jobs like that because they think 3 NP$ "sounds like a lot"? Maybe.

dmi - We want to convert NP$ into a credit system that will be usable more like a US Dollar balance. For years, the NP$ system has been hampered by the need to convert from one currency as another. Moving the value of the NP$ to be similar to that of USD will lower the barrier it has now as a viable option for us to accept payment from our advertisers and customers for NamePros services.

For instance, we can offer a domain registration or ad campaign for $8.00, payable by PayPal, Google Checkout, or NP$. I wouldn't have to specify a different amount for NP$ payers. No conversion is necessary.

 

[champ_rock]

Hi RJ

The new conversion system bringing it closer to the Dollar value will definately be of great help and will prevent unnecessary confusion among new members.

But somehow I believe that the conversion rate of 0.17 is not right.In the past days NP$ used to be traded at 0.020$ .(even at 0.021many times). It is just in recent months (recession and overall low activity) that the rates have fallen. Therefore, automatically converting everyone's NP$ @ 0.017 is like forcing everyone who were waiting to sell at 0.020 to sell at 0.017. Somehow, I dont think this is fair opportunity.

I think a better conversion rate would have been 0.020 at which they were going earlier (pre-recession) or atleast some kind of better rates.

An analogy from the financial sector comes to my mind at this. Lets say there is a financial institution which is holding some "Shares/Securities" (bought at pre-crisis prices) and the bank is financially secure(unlike the current scenario) so it is under no pressure to sell its assets in todays lower rates. I think it would be unfair if the Govt (-RJ-) forces that financial institution to CONVERT its "Assets" into some other denomination which the institution thinks are lower than what it could have got.

Ultimately last word is yours , but I think the conversion rate needs to be tweaked.

 

[unknowngiver]

RJ you still didnt answer my question
Will we be able to earn N$ by posting?
and also, how will domain credits [name points] be affected by this?

 

[RJ]

Earning NP$ / N$ for posting is not something we intend on offering or promoting, except for special circumstances. This has been the case since 2005.

Domain credit system will be converted to the new valuation.

 

[abdussamad]

I thought the main idea behind having NP$ was to facilitate low value transactions? How does revaluing them so that they are more like USD help that? It makes much more sense for me to auction something starting at NP$ 50 than N$ 0.85. I can only imagine the bidding process where the minimum increment is N$ 0.10 .

 

[unknowngiver]

I thought the main idea behind having NP$ was to facilitate low value transactions? How does revaluing them so that they are more like USD help that? It makes much more sense for me to auction something starting at NP$ 50 than N$ 0.85. I can only imagine the bidding process where the minimum increment is N$ 0.10 .

yea i am not liking the reavaluation thing right now, 9np$ :p lol
but lets see how it turns out, it could be a good thing

 

[d0main]

This is really unfair from the viewpoint of the users. Luckily I had low enough of a balance to only loose $1 on this change, but the difference between conversion of .017 and .020 is huge for others with bigger balances. This may have benefited you in the short run, but my guess is that a lot of people will be very unhappy as they realize what happened.

 

[.Andy]

I agree the conversion should of been higher.

 

[Freshfroot]

I wish they kept the old system. We're members even allowed to vote or express their opinion earlier???

 

[chandan]

i like old np$ system

 

[kashif]

I have more than NP$ 400 before the change and now my balance is showing just N$ 1.40! Why? I dont remember the exact amount but I am sure it was more than NP$ 400!

According to new conversion rate it should be at least N$6.8. (400 x 0.017) if I only calculate for NP$ 400.

 

[Pound]

I also agree it should have been $0.20 rather than the $0.17 used. Obviously it's not the end of the world but it did hit me fairly badly.

 

[edprobudi]

Will we be able to draw the amount of NP$ we have earned here to our paypal account like we used to?

I find that system is extremely good and it is really sad to lost such ability. not that we can make millions by doing NP$ incentives and stuff, but we can always get some extra money and that always help.

 

[champ_rock]

Hi Guys

I dont think there is any point in complaining now regarding the conversion rate. I had replied on this same thread 20 days back (when the proposal should have been discussed) .At that time, no one bothered to join in and give their decisions

So, i think it is justified that everyone suffer now! Enjoy!

P.S. : I used to like having 9000 or so NP$ now they are 168

 

[RareIQ]

I also lost over 200 NP$....

 

[clausfehde]

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]

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-]

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.

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]

NP Balance :- Crash

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

What happened ?

 

[-REECE-]

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.

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

What happened ?