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I think it's fine that gold can be purchased at the RMAH. I think some of those blasting this move are the gold farmers. Too bad. You didn't think Blizzard would let you guys have all the fun, did you?
I detest Gold Farmers because they're causing inflation to skyrocket, preventing honest gamers from enjoying the game at higher difficult levels because they're prevented from trading for gear at reasonable prices.
If you're one of those guys who work at an office, you know what I mean. How can you compete properly at the Inferno level when bums who have nothing better to do farm gold all day, flooding the market with gold and making acquiring the right gear nearly impossible?
I, for one, don't want to buy gold from these guys because I can never be sure that they're truly legitimate and there's always a chance Blizzard will ban my account. Regardless of whether I think Blizzard is greedy or whatever, I still feel more comfortable dealing with them, as opposed to any of these gold sites, whose provenance and security cannot be ascertained.
I think Real-money Gold purchases does a few things:
1. It will (hopefully) reduce the number of people/shysters who sell gold. The reason is that if you can sell gold for x at the RMAH, why bother to sell it at a x-1 elsewhere? You're only hurting yourself and creating arbitrage opportunities for others to exploit;
2. It will effectively put a dollar value on the goods in the GAH. That will allow fast-moving traders to exploit arbitrage opportunities as well (i.e. buy undervalued goods at either house, sell for more at either house and convert the proceeds to Gold or Real Money as desired).
Arbitrageurs aren't bad per se: they serve a useful function in that they alert the market to price imbalances, thereby resulting in the faster leveling of prices.
Of course, for this to work, THERE WILL HAVE TO BE A CAP ON PRICES AT THE GAH. I expect it to happen. Otherwise, it would turn the RMAH into a simple Money Changer and defeat the purpose of having a parallel AH in the first place. Blizzard would not create a situation where others profit too much and it does not.
Want an example? Let's say that, once it becomes available at the RMAH, 1 million gold is equivalent to $1.00 at the RMAH where the cap on a single item is $250.
If I can sell a full set of 4 items for 2 billion (meaning 500 million Gold per piece), I can then turn around and sell the gold proceeds for $2,000 (i.e. 2 billion/1 million x $1.00) at the RMAH.
In contrast, I can sell those set pieces for a maximum of $250 each at the RMAH, for real proceeds of just $1,000. In such a situation, you'd definitely sell at the GAH because you're talking about doubling your profits by adding a few short clicks to your work, maybe adding a few hours if trades need to be validated.
With no cap on GAH prices, this would evolve into a permanent arbitrage situation because the rules are different in the markets. For the market to become efficient, the same rules (including limits) would have to apply to both AHs. Abitrage would still be possible but, as in the real world, only the fastest traders (or bots; they use bots on Wall St. too, by the way) would profit from it.
In such a climate, the only reason Gold Sellers would still operate independently would be because they can convince buyers that the transaction cost of dealing through their system, rather Blizzard's, is more cost-effective. If that were to happen, however, Blizzard could simply start banning the accounts of known Gold hoarders. The house always wins because they make the rules and have the muscle to enforce them.
Edited by Eisenhorn#6230 on 7/10/2012 7:41 PM PDT
This needs to happen tomorrow. 7-11-12 tomorrow, not Soon™ tomorrow.
Edited by Artrion#1164 on 7/10/2012 7:50 PM PDT
1000 exquisite essences on the RMAH: $250.00
pretty much this.
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