Mystic coins price is out of control

[mauried.5608]

Maybe if people paused a bit and asked themselves where are all the sellers of mystic coins on the TP getting them from so they can sell them?Then maybe you could get yours from the same place .Currently 22500 MCs for sale , hardly a supply shortage.Too many ppl think the TP is like a shop where the prices of everything should be somehow controlled so that the prices are what I think they should be .Doent work like that.

[phs.6089]

@Khisanth.2948 said:

@phs.6089 said:What happened to farm gold, buy mystic coins?

Apparently too expensive?

How is making gold outta thin air, makes something expensive?

@Shiyo.3578 said:

@phs.6089 said:What happened to farm gold, buy mystic coins?

If everyone does that, the supply outstrips the demand even further than it already has until they're 5g each....

Economy 101

Everyone does that, if goes for a leg. I haven't seen MC to go above 2 gold, cus apparently there is enough supply, even when mass of people rush 2-3 legs in one go.

[Drarnor Kunoram.5180]

@VDAC.2137 said:It is odd that the price is increasing now rather than when Exordium released. I guess people used up their stockpiles and haven’t had a chance to replenish?

My guess is people are selling their stocks for gold to convert to gems for the Skyscale skin. It seems to be very in demand, and I have seen quite a lot of comments of people selling off their bank stores of materials to get it.

[Illconceived Was Na.9781]

@Drarnor Kunoram.5180 said:

@VDAC.2137 said:It is odd that the price is increasing now rather than when Exordium released. I guess people used up their stockpiles and haven’t had a chance to replenish?

My guess is people are selling their stocks for gold to convert to gems for the Skyscale skin. It seems to be very in demand, and I have seen quite a lot of comments of epople selling off their bank stores of materials to get it.

This seems plausible. The gold:gem ratio is down for the first time this year, to perhaps a 12-month low.

[Drarnor Kunoram.5180]

@Illconceived Was Na.9781 said:

@Drarnor Kunoram.5180 said:

@VDAC.2137 said:It is odd that the price is increasing now rather than when Exordium released. I guess people used up their stockpiles and haven’t had a chance to replenish?

My guess is people are selling their stocks for gold to convert to gems for the Skyscale skin. It seems to be very in demand, and I have seen quite a lot of comments of epople selling off their bank stores of materials to get it.

This seems plausible. The gold:gem ratio is down for the first time this year, to perhaps a 12-month low.

It's probably happening, but now that I think about it for a second, it doesn't explain why mystic coins would be increasing in value.

Perhaps people are done with the Skyscale aquisition and are turning their attention to Exordium? Or preparation for the new legendary ring?

[Illconceived Was Na.9781]

@Drarnor Kunoram.5180 said:

@Illconceived Was Na.9781 said:

@Drarnor Kunoram.5180 said:

@"VDAC.2137" said:It is odd that the price is increasing now rather than when Exordium released. I guess people used up their stockpiles and haven’t had a chance to replenish?

My guess is people are selling their stocks for gold to convert to gems for the Skyscale skin. It seems to be very in demand, and I have seen quite a lot of comments of epople selling off their bank stores of materials to get it.

This seems plausible. The gold:gem ratio is down for the first time this year, to perhaps a 12-month low.

It's probably happening, but now that I think about it for a second, it doesn't explain why mystic coins would be

increasing

in value.

Ha, good point.

I think there's pent up demand plus... panic threads like this often drive the price higher:

• Sellers see "1.49s [sic] insta buy 1.42s [sic] buy order and constantly going up with no decline in sight" and think, "hey, with no end in sight, I might get 1.6g or even 1.7g.
• Buyers see the same thing and worry that "no end in sight" means they better buy now, before it gets worse.

When it comes to market drivers, Reason is no match against Panic (nor versus irrational exuberance).

[Khisanth.2948]

@Illconceived Was Na.9781 said:

@Drarnor Kunoram.5180 said:

@Illconceived Was Na.9781 said:

@Drarnor Kunoram.5180 said:

@"VDAC.2137" said:It is odd that the price is increasing now rather than when Exordium released. I guess people used up their stockpiles and haven’t had a chance to replenish?

My guess is people are selling their stocks for gold to convert to gems for the Skyscale skin. It seems to be very in demand, and I have seen quite a lot of comments of epople selling off their bank stores of materials to get it.

This seems plausible. The gold:gem ratio is down for the first time this year, to perhaps a 12-month low.

It's probably happening, but now that I think about it for a second, it doesn't explain why mystic coins would be

increasing

in value.

Ha, good point.

I think there's pent up demand plus... panic threads like this often drive the price higher:

• Sellers see "1.49s [sic] insta buy 1.42s [sic] buy order and constantly going up with no decline in sight" and think, "hey, with no end in sight, I might get 1.6g or even 1.7g.
• Buyers see the same thing and worry that "no end in sight" means they better buy now, before it gets worse.

When it comes to market drivers, Reason is no match against Panic (nor versus irrational exuberance).

1.42 buy is down by 1s from June 6th price :p

[bluberblasen.9684]

@zionophir.6845 said:buy more accounts. get mystic coins when days are so generous..

like an account is even cheaper than a middle end good weapon skin in the TP atm when you get it using gems...

psssstdont tell them :)

[Asum.4960]

@Shiyo.3578 said:1.42s buy order 1.55s insta buy now.

Can something be done about this already?

I actually completely agree.It's time for Anet to focus on developing content like Fractal CM's again, which reward MC's, instead of endless collections and boring open world gold farms.

Maybe once MC's are 5g+, people who just care about gold over gameplay will finally play the engaging content this game offers, reviving the scene.

[mauried.5608]

Amalgamated Gemstones are now selling for 1.9 G each and can be farmed, so just do events that reward in gemstones, sell them and buy MCs and you make a profit as well.

[Shiyo.3578]

@Illconceived Was Na.9781 said:

@"Shiyo.3578" said:1.42s buy order 1.55s insta buy now.

Can something be done about this already?Done about what? The market is responding to a temporary increase in demand, which means people who don't want to wait are willing pay more. If you do not want to pay more, then wait.

https://www.reddit.com/r/GW2Exchange/comments/bzlug3/announcement_mystic_coins_are_now_the_official/

By the wayYou don't seem to understand that this means the opposite of there being a problem: the grey market traders want the most stable item to use as an alternative currency, not one with constant fluctuations, not one that has a tendency to rise sharply over time (or fall sharply). MCs are a great choice because they are worth around a gold, allowing people to trade up to 1500 gold in a single email without worrying about the currency limits in the game. They are also in great enough supply that any one wanting to trade can get them from the TP at any time they want. And at the same time, there's a limited supply, so that people can't generate them too frequently.

Amalgamated Gemstones are a competitive choice, with less stability. Worse, people can make AmGems whenever they want.

FYI the specific policy referenced in the post is that people using the

GW2 Exchange

on Reddit are required to post a price in MC for items valued at more than 500 gold. People can still sell for gold if they prefer. Or any other alternative (people have traded all sorts of things). The policy also pegs the price at the highest

buy

offer.

That isn't the point, the point is that the price is going to go up even further due to GW2E exchange announcing that. The second that was posted, the stock of mystic coins went from 29k to 22k supply.

It's now stuck at 22k supply, it's being hoarded more than EVER before and that GW2E announcement had a huge impact on it.

1.47G / 1.59G atm now btw lol

[ChronoPinoyX.7923]

@Shiyo.3578 said:

@Illconceived Was Na.9781 said:

@Shiyo.3578 said:1.42s buy order 1.55s insta buy now.

Can something be done about this already?Done about what? The market is responding to a temporary increase in demand, which means people who don't want to wait are willing pay more. If you do not want to pay more, then wait.

https://www.reddit.com/r/GW2Exchange/comments/bzlug3/announcement_mystic_coins_are_now_the_official/

By the wayYou don't seem to understand that this means the opposite of there being a problem: the grey market traders want the most stable item to use as an alternative currency, not one with constant fluctuations, not one that has a tendency to rise sharply over time (or fall sharply). MCs are a great choice because they are worth around a gold, allowing people to trade up to 1500 gold in a single email without worrying about the currency limits in the game. They are also in great enough supply that any one wanting to trade can get them from the TP at any time they want. And at the same time, there's a limited supply, so that people can't generate them too frequently.

Amalgamated Gemstones are a competitive choice, with less stability. Worse, people can make AmGems whenever they want.

FYI the specific policy referenced in the post is that people using the

GW2 Exchange

on Reddit are required to post a price in MC for items valued at more than 500 gold. People can still sell for gold if they prefer. Or any other alternative (people have traded all sorts of things). The policy also pegs the price at the highest

buy

offer.

That isn't the point, the point is that the price is going to go up even further due to GW2E exchange announcing that. The second that was posted, the stock of mystic coins went from 29k to 22k supply.

It's now stuck at 22k supply, it's being hoarded more than EVER before and that GW2E announcement had a huge impact on it.

1.47G / 1.59G atm now btw lol

And that's an issue how exactly?

The fact that the viable methods to get them are still there ain't going away anytime soon so there's literally nothing that needs to be done since economy in a nutshell is controlled by populace

[Astralporing.1957]

@ChronoPinoyX.7923 said:The fact that the viable methods to get them are still there ain't going away anytime soon so there's literally nothing that needs to be done since economy in a nutshell is controlled by populaceAs i mentioned before, that's not really true. Actions of the game population impacting economy is not the same as population controlling economy. There's no control at all here. The only group of people that could possibly exert any longterm control on the economy are Anet devs. For population to be able to do that, it would need to have a singular will directing it.

[Talindra.4958]

Just wait a bit. If you get it during high demand obviously you hv to pay more.

[Illconceived Was Na.9781]

@"Shiyo.3578" said:That isn't the point, the point is that the price is going to go up even further due to GW2E exchange announcing that.The second that was posted, the stock of mystic coins went from 29k to 22k supply.First, of course there's going to be a shock to the system when an announcement like that is made. People responding irrationally by assuming that it changes much about how trades happen. The reason GW2/exchange made the announcement was that m-coins were already being used as alternative currency. The only change they made was to require posters for high-value trades to include an MC value.

Second, 22k supply, despite being lower than 29k from the week before, remains above the lowest point historically: 11 Sep 2011, there were 17k on the TP and the price hit 1.56g

It's now stuck at 22k supply,It's not "stuck". In the few days since the announcement, it's been as low as 20k and up as high as 25k.

it's being hoarded more than EVER beforeThere's not convincing evidence of that. First, as noted above, this isn't the lowest supply. Second: the TP represents just a fraction of the coins out there. If the TP is the tip of the iceberg, then the "hoard" would have been 261k before the announcement, so "hoarding" would have gone from 261/290 to 268/290, i.e. 90% to 92%.

And finally, it's shortsighted to assume that this is a stable number. After any shock to the system, there's a period of disequilibrium and it's poor economic analysis to treat it as permanent.

and that GW2E announcement had a huge impact on it.Of course. If for no other reason, then people who look only at this moment's market are going to overreact.

1.47G / 1.59G atm now btw lolSo? You keep putting a number down as if it means something. Despite two new legendaries plus the GW2/exchange announcement, it's still just barely nudging the record high in price and supply remains above record lows.

[Shiyo.3578]

During 2017, was everything else you could farm going down in price while coins went up or was it a global price increase on everything?

Right now everything you can farm is stable or going down, while coins are going up every single day.

edit: meant 2017

[Ayrilana.1396]

@Shiyo.3578 said:During 2011, was everything else you could farm going down in price while coins went up or was it a global price increase on everything?

Right now everything you can farm is stable or going down, while coins are going up every single day.

The game was not out in 2011.

Amalgamated gemstones are going up in price due to the three new legendaries despite new daily sources having been added.

Many of the prices for farmable items have gone down because of the bonus chests from the previous event.

[ProtoGunner.4953]

@Obtena.7952 said:

@Khisanth.2948 said:

@Obtena.7952 said:

@ProtoGunner.4953 said:

@Obtena.7952 said:This complaint doesn't make sense ... MC prices are

controlled

by market demand and supply. If you think they are too expensive because you want to buy them, there are people that think they are too cheap because they want to sell them. The price on the market is a balance between those ... it couldn't be any MORE under control than it already is.

Only that anet introduced a much higher demand with HoT due to legendary 2.0 needing an additional 250 coins and also for stuff in the guild hall. It was made scarce. They used to be dirt cheap (too cheap maybe). That said, instead of this the T6 mats were much much in higher demand back then.

But that's my point ... Anet can't introduce more sources to control the price ... because it means they literally can't add more MC's to other recipes or ensure the demand players have for them is constant ... the idea that more sources controls the TP price is ... ignorant.

Of course they can! They already have ... the amount of coins a single account can get per month as nearly doubled(40 versus 74) or more than doubled if you add in the RNG based sources, dailies and PvP tournaments. The additional sources for clovers can also be a source for coins although not entirely since coins are also used in other recipes.

Why people haven't gone for them is a completely different discussion though.

However this is not meant to be a counter point. It is just that we already have proof that sources can be added without having much impact. It all depends on where it gets added.

I guess my point is that other sources exist, if people think prices are too high then they should go get it themselves from the other source.(insert stuff about opportunity cost that I am too lazy to write :p)

You guys don't get it ... just introducing more sources of MC's doesn't control the price on the TP. I'm not saying they can't introduce more sources ... of course they can. I'm saying that they can't introduce more sources to control TP prices because it doesn't work that way.

Of course you can. Just drop it from every enemy for example and the price will fall to where it was again or even lower. That simple. I think the 'problem' was that they used to be around 1-2 silver before HoT and people considered this 'normal'. There was an overabundance of these, hence they introduced additional sinks (ie guild hall crap and additional 250 for legendaries).

[Cyninja.2954]

@Shiyo.3578 said:During 2011, was everything else you could farm going down in price while coins went up or was it a global price increase on everything?

Right now everything you can farm is stable or going down, while coins are going up every single day.

Exactly, everything else gets cheaper, thus people have more disposable income to spend on the last resource which they are missing: Mystic Coins.

Everything getting cheaper directly leads to Mystic Coins becoming more expensive.

No reason to look as far back as 2011, ectos held stable for years at 35-40 silver while T6 materials were above 40-50s a piece. Net result: stable legendary prices.

You asking for Mystic Coins to be made cheaper while everything else is bottomed out is nothing else than asking for legendary items to be made cheaper.

[Illconceived Was Na.9781]

@Shiyo.3578 said:During 2011, was everything else you could farm going down in price while coins went up or was it a global price increase on everything?During 2011, the game didn't exist.

Right now everything you can farm is stable or going down,No, not everything is stable or going down.

Plus, in case you didn't notice, they just added a massive faucet for unID gear and volatile magic, which means a faucet in a variety of other items as well.

while coins are going up every single day.No, not really. Again, in case you didn't notice, they just released two massive sinks for mystic coins.Mystic coins were extremely stable in price until the new GS and Trinket.

[Voltekka.2375]

"Give me my cheap legendary, already!"Legendary and cheap cannot exist in the same sentence.

[Shiyo.3578]

19k supply now, cost still increasing.

Mystic coins are being manipulated on a MASSIVE level and Anet needs to intervene

Also edited post, meant 2017. Posting early before brain works = bad.

[Diak Atoli.2085]

@Shiyo.3578 said:19k supply now, cost still increasing.

Also edited post, meant 2017. Posting early before brain works = bad.

And? You still haven't given a convincing argument as to why that's a problem.

[Abelisk.5148]

That's just how the economy work, catch up with the times. It basically means you should be making more gold than you did 1 year ago.

[Rasimir.6239]

@Shiyo.3578 said:19k supply now, cost still increasing.

Mystic coins are being manipulated on a MASSIVE level and Anet needs to interveneYou do realise that you are manipulating the mystic coin price and supply yourself by keeping this post alive and influencing people to panic-buy coins with your insistance that the price is out of control?