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Rakshasa Taisab
Caldari
Sane Industries Inc.
Initiative Mercenaries
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Posted - 2010.03.13 03:23:00 -
[1]
 Originally by: Akita T
Seems like they simply set the new baseprice of minerals (for insurance purposes only) to the average market price.
If it's dynamic or static, we'll have to wait and see.
At least we know it wasn't Dr. EyjoG's fault since he never understood insurance price floors as they didn't get mentioned in the QEN. I bet he feels stupid now that some random CCP dev changed something he wasn't aware of.
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Rakshasa Taisab
Caldari
Sane Industries Inc.
Initiative Mercenaries
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Posted - 2010.03.13 03:42:00 -
[2]
Edited by: Rakshasa Taisab on 13/03/2010 03:46:50
Originally by: Akita T
No, we don't know it wasn't him.
Actually, it sounds more and more AS IF it was him.
I was actually mocking you for your rant about the doctor not mentioning insurance fraud in QEN, when it was clear to some of us that if it wasn't mentioned there must have been a reason for it since that mechanism is so obvious.
Like an impending change to the insurance mechanism.
Originally by: Armchair Economist
THIS CHANGE IS ONE OF THE MOST HORRIBLE POSSIBLE CHANGES YOU COULD POSSIBLY MAKE.
Making insurance dynamic based on e.g. empire average prices would be a first step in fixing things. So what if the mineral prices collapse and the new floor is hit (until insurance prices again update)?
Well... The problem here is partially the lack of mineral sinks. Hey, did you know we're getting Planetary Interaction in May?
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Rakshasa Taisab
Caldari
Sane Industries Inc.
Initiative Mercenaries
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Posted - 2010.03.15 06:00:00 -
[3]
Originally by: Zartrader
The issue is the oversupply of ore and the underutilisation of it. I hope that CCP has some form of ore sink in mind and they put it in soon.
Yeah, and instead they're busy wasting time on making Interactive Planets which obviously can not in any way of form be an ore sink and timing of the insurance nerf must have been completely random since Akita T says the CCP economist is clueless.
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Rakshasa Taisab
Caldari
Sane Industries Inc.
Initiative Mercenaries
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Posted - 2010.03.17 00:40:00 -
[4]
Originally by: Skex Relbore
That means there are two ways to address the problem. Either increase the flow of ISK into the economy or reduce the rate at which minerals enter it.
Insurance worked pretty well in this respect because it was a two fer. I removed minerals from the economy and injected more ISK into said economy.
There are actually four ways... The other two being reduction of flow of ISK out of the economy and increasing the demand for minerals.
As we know PI will do the former by allowing players to produce NPC goods. If some hypothesized PI production lines, e.g. POS modules, would use minerals that takes care of the latter.
Originally by: Skex Relbore
Reducing insurance payouts will only further exacerbate the existing problem because it will reduce both the rate at which minerals are removed and reduce the amount of liquid ISK injected.
The truth is what would have been a better solution would have been to have increased insurance payouts which would have caused more destruction of minerals and ISK until a new floor stabilizes.
As an economic mechanism the insurance is no doubt ****le filled pants worthy, yet as a game mechanics there are rather strong arguments against it.
As such, saying it good to have insurance due to those properties ignores that this is a game and in a game we actually _want_ chaos and mayhem in the financial system. (To a certain degree) Also, once the ideal economic mechanism that the insurance is gets removed, you may introduce more interesting ones that increase an oft overlooked part of the eve economics; fun.
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