I was thinking, what is the real value of Internet money. I'm hearing talk of 1K GR credits being worth $4. We all understand that $4 will buy you a gallon of milk with some change left over (that's the "real value" of a dollar), but what is the real value of a GR credit? Using this thread as a reference, I'm judging that 200 credits is a reasonable price for a really good full-rights sig. This means that each sig is worth a meager $0.80 (using 1K credits = $4 as the exchange rate). This tiny monetary price contrasts sharply with 1) the amount of effort put into the actual making of the sig and 2) the amount of time needed to earn the 200 credits. I'm drawing conclusions as I go, so bear with me. What I'm seeing is that GR credits are worth less than play money. It's a market that should be entirely avoided unless you are getting out of it. Let's play with the exchange rate a bit: 1000 credits = $4 Credits per dollar: 1000 / 4 = 250 credits/dollar Here's the kicker. Dollars per credit: 4 / 1000 = $0.004 Each credit is worth two fifths of a cent. Credits are play money, but people sell real skills on the market. It's not economical. I am hypothesizing that, unless you are going from credits to dollars, this is not a market that deserves any attention. The currency is too difficult to get to spend practically, and the goods require too much effort to make in order to sell at prices at which you could get any reasonable compensation for your labor. I think the statement "OMGINTERNETMONEY" stands. GR credits have essentially no real value.
its one of the many questions, that has no answer, many do it to learn , its a hobbie, like video games etc
well that kinda of makes it like buying a cheat guide for a video game doesnt it? it gives you ways to get better, but you could just find the same information for free online.
the real worth of ANY money is worth what it's backed by. If it is valued higher than it's because society holds it to be worth more however it will tend towards the value of what it is backed by over time. if money is backed by gold it will tend towards gold. if money is backed by paper it will tend towards paper(when hyper inflation occurred in post WWI Germany people burned money because it was worth as much as paper but it cost less) internet money is backed by nothing. as such it will tend towards nothing over time and there is no way to prevent it no matter what anyone may think. a while back 100 credits were worth $1. now it's 400. in the same pace of time it will likely shift to 1600:1 and after that 6400:1 and so on. there is no preventing it regardless of what many may think. remember the credit steal item? we went from 3 million to 2 million credits in circulation. the effective value of a credit changed... not much. the real question is "how the administration will handle it?" will they favor beginners to the site by making it easier to get credits and helping noobs get started and slightly escalate the rate of inflation(hint community needs new people in order to grow)or credit hoarders by making it harder to obtain credits and slightly slowing inflation. most people already know my stance - favor beginners and those who are active in the community over credit hoarders. a devalued credit encourages people to sell more things in order to maintain the same value of worth and it encourages people to buy things to get the rapidly devaluing credits out of their possession for something which will hold most of its value. Similar to real life except in this case you don't need to worry about unemployment, wastefulness, the cost of generating money, and the impact on a multitude of businesses which require prodigious amounts of money on hand for research and development. I'm anti-printing out money in real life, but dangit THIS ISN'T REAL LIFE.
Internet money is wroth what people want it to be worth. It's people's own choice what they spend on it. Most people set a different pricing each time and each time ther are people bidding on it. On another note, I agree with Xlink on how to divide the creds
You could state it like that, but you could also say it's a learning guide. Off course you get better by reading up on tutorials, because there are quite a few mysteries in PSP which few know of, if these mysteries get uncovered more people get better knowledge and can use this knowledge to create their own art..
Also a lot of people on here would make those tags regardless (no not the credit whores who just make tags for credits) so I'm not too sure what the problem is. If the labour will occur anyway, as it does with any hobby, then $0.0004 or whatever doesn't make any difference; in fact its still kind a large profit. People are doing this in their free time so they aren't losing money by doing so and they're making something which costs nothing beyond an internet connection and PC (which they would have anyway) so no matter how little a credit is worth its still something for nothing.
While that is true, you could make the same point for people who make necklaces and stuff on their free time and sell their stuff at crafts fairs (that's how my cousin makes money). they could spend the same amount of time making a necklace or bracelet and sell it for $5 that a sigmaker does and sells it for .4 cents. my whole point is that, in a purely economical sense, its totally impractical. Xlink has a good hold on the market. GR is constantly inflating (without the bubble effect) because members literally create their own currency.
No you couldn't make the same point as the necklace costs to make and it is not made for any other reason than to sell. Would your cousin really spend so much time making necklaces if they did not sell? And surely the materials that comprise the necklace are not made by your cousin?
I like GR credits cuz i can pay sum1 2,000 credits to make a template which would be 8$ where as in the real world if you pay a web designer 8$ to make a template....it wont happen /hurray for cheap labor!
Considering real life money is also equivalent to the phallus proportions, one would assume that internet money would be of equal proportions to a person's ePenis. Therefore, the true value of internet money is ego. Here: Real money: ((Money)(Actual Wang Size) / (Actual Wang Size/2)) x (Money^2)^2 x Shiny things = Wang Internet money: ((credits^10293847)(Vulgarity in speech)(Ability to butcher the english language) / (Actual wang size)) = Wa.... Whoops, divided by zero.
