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Author	Thread Statistics \| Show CCP posts - 6 post(s)
Celestinus Gallente Aliastra	Posted - 2008.10.05 06:37:00 - [1] Real-life ISK has taken a collateral hit from US financial problems. Third largest bank of the country has been nationalized and this has sent ISK plummeting down. Is CCP financially secure enough to sail through this one? Also, do we, as customers, see any downgrades in basic services i.e. petition handling or speedy and careful bug hunting/patching? Any pressures on the personnel about job security? - cel
Dirk Magnum Royal Hiigaran Navy	Posted - 2008.10.05 06:39:00 - [2] Edited by: Dirk Magnum on 05/10/2008 06:40:37 I noticed this also. I lost like... a lot of USD by going to Fanfest last year and not this year (once this year's Fanfest actually happens.) No matter. The value of the experience of Fanfest and strolling through Reykjavik cannot be assayed in mere dollars.

Chribba Otherworld Enterprises Otherworld Empire	Posted - 2008.10.05 06:59:00 - [3] Request that I can pay everything in Veldspar! Secure 3rd party service ■ Veldspar

Florio Federal Defence Union	Posted - 2008.10.05 07:18:00 - [4] Edited by: Florio on 05/10/2008 07:19:58 i think it's only a matter of time for kaupthing too. nationalising will provide security though. what would be more worrying for ccp is if iceland let their banks go bust. on a side note, turnip farmers are having a field day as more and more consumers on smaller budgets buy this vegetable due to its low cost. edit/ an idea for ccp: if you mirrored ingame npc news to current rl events you'd get a lot more "buy-in" and involvement and forum discussion. need a jita credit crunch.
Rob Z0mbie	Posted - 2008.10.05 07:19:00 - [5] well, they'll survive if this doesn't get too bad, they won't even have to fire anyone, just sell the fish tank. \(o.0)/
Ibuy Usell	Posted - 2008.10.05 07:44:00 - [6] I hope Navigator goes first. (The above statement was in jest. Nav does a good job.)

CCP Prism X Gallente C C P	Posted - 2008.10.05 07:44:00 - [7] You don't need to worry about CCP as all our revenue is in Euros and Dollars. If you really want to sympathize think about our poor non-icelandic employers who are paid in ISK yet have financial obligations, like student loans, in another currency. That really hurts right now. But no worries, CCP has weathered worse and has no intentions of falling short this time around. ~ Prism X EvE Database Developer Relocating your character to a cozy, secure container since 2006. Relocating your cozy, secure container to the EVE cemetery since 2008.

Andrue Amarr	Posted - 2008.10.05 08:06:00 - [8] Edited by: Andrue on 05/10/2008 08:10:06 Originally by: Celestinus Real-life ISK has taken a collateral hit from US financial problems. Third largest bank of the country has been nationalized and this has sent ISK plummeting down. Is CCP financially secure enough to sail through this one? Also, do we, as customers, see any downgrades in basic services i.e. petition handling or speedy and careful bug hunting/patching? Any pressures on the personnel about job security? US financial problems? The financial problems of the entire western world you mean. The US is only where the house of cards started to collapse. Many countries took part in the sharade and in point of fact Iceland was one of the biggest offenders. It's been spending money that didn't belong to it - money put there because of it's relatively high interest rates. Now the world wants that money back. It'll be interesting to see what effect this has on the UK economy since they bought into a lot of our stuff. What we really need now is for the entire system to collapse so that we can rebuild using a proper banking system. Unfortunately that will mostly hurt the people that didn't cause this. Consequently we're stuck. Either let it all fall down and hurt millions of people or try and prop it up in the hope that it will stabilise. It's going to hurt either way eventually but I would favour the first solution. Let's have more pain over a shorter period rather than a prolonged bout of economic hell. Maybe it will teach people a lesson. Maybe we can actually get something back off the money jugglers for once. Pouring more money in is just going to protect them while hurting everyone else. -- (Sarcastic mission running veteran, 4+ years) [Brackley, UK] My budgie can say "ploppy bottom". You have been warned.
Ludi Svelte Northmann Newport News	Posted - 2008.10.05 08:27:00 - [9] Edited by: Ludi Svelte on 05/10/2008 08:28:02 CCP should probably do something to prop up the GTC market, they're creeping toward 500M ISK right now and you run the risk of people not being able to afford them, letting their accounts lapse and the whole GTC market collapsing (and taking a whole chunk of your RL revenues with it) Perhaps it's time to get that economist to earn his fee, think up some ways to improve things (without splashing $700B down the pan) to weather the RL financial storm that is reaching into game and then reaching back out again to screw with CCP's bottom line. Failing him, I have great some ideas I'll trade for capital ship BPO's and cold hard ISK!:-)
Ellyra Caldari Caldari Independent Navy Reserve	Posted - 2008.10.05 08:54:00 - [10] for the billionth time, nothing wrong with the GTC market. simple supply and demand. if it collapses that would be a good thing, cuz then the prices will stabilize for a while. On another note, i like how discussion of the real life ISK currency makes people want to discuss the EVE world ISK and what it should or shouldn't be worth in real life dollars :) ____________________________________________ Start every day with a smile and get it over with
Mutabae	Posted - 2008.10.05 09:58:00 - [11] Originally by: Andrue What we really need now is for the entire system to collapse so that we can rebuild using a proper banking system. Unfortunately that will mostly hurt the people that didn't cause this. Consequently we're stuck. Either let it all fall down and hurt millions of people or try and prop it up in the hope that it will stabilise. It's going to hurt either way eventually but I would favour the first solution. Let's have more pain over a shorter period rather than a prolonged bout of economic hell. Maybe it will teach people a lesson. Maybe we can actually get something back off the money jugglers for once. Pouring more money in is just going to protect them while hurting everyone else. No, it won't teach 'anyone' a lesson, as 'anyone' don't control the financial system. The people that control the financial system won't go hungry regardless of what happens. Your solution simply ensures 100's of millions of people start eating shoe leather and bludgeoning their neighbours for access to clean water and crap jobs to feed their children. It would be Africa's worst problems writ large. In the end, the same people that control large amounts of economic leverage now would end up would retaining it anew; the only real difference is the 'poor' would simply shift from one population to another and we'd simply have the same shithole with a different name. Global insecurity is here to stay. I'd rather keep up with the facade as it will have the same end result as a supposed rewrite, but with less intervening misery and chaos. Our corrupt system is global and has passed the point where it's susceptible to change. All we can do is move numbers around to a different bank account and hope the entire system doesn't just collapse and make people a necessary food group. shrug
Fi T'Zeh Evolution Band of Brothers	Posted - 2008.10.05 11:44:00 - [12] For a more detailed explanation of the issues affecting iceland I recommend Robert Pestons blog on the BBC website. It is here : http://www.bbc.co.uk/blogs/thereporters/robertpeston/2008/10/creditors_call_time_on_iceland.html .... Playing EVE on easy mode since May 2003.
Jacob Holland Gallente Weyland-Vulcan Industries	Posted - 2008.10.05 12:06:00 - [13] I'm surprised that CCP pay in ISK TBH. From what I understand a fair number of Icelandic companies, particularly those which deal predominantly in Euros, have been paying their employees in foreign currencies for a little while. Given the huge proportion of CCPs turnover is in Euros or US Dollars I'd have expected them to be among them. -- Originally by: cordy Respect to IAC .Your one of the few people who truly deserve to own and live in the space you are in.
Illwill Bill Minmatar Scandinavian Carebears AB	Posted - 2008.10.05 12:20:00 - [14] The entire World economy is somewhat unstable, but I never realised that Iceland's economy was that vurnerable.
xttz GoonFleet GoonSwarm	Posted - 2008.10.05 12:35:00 - [15] Damn ISK sellers
Andrue Amarr	Posted - 2008.10.05 13:11:00 - [16] Edited by: Andrue on 05/10/2008 13:12:42 Edited by: Andrue on 05/10/2008 13:11:54 Originally by: Illwill Bill The entire World economy is somewhat unstable, but I never realised that Iceland's economy was that vurnerable. Here's something else you probably don't realise then. The economies of the various EU countries and even the US aren't exactly in the pink of health. Things are seriously screwed out there in banking land. Injecting a few hundred billion more into the system may or may not have a positive effect. I highly doubt it will have a long term positive effect though. The US can't afford the kind of bailout needed and would (I hope) not be so stupid as to even try it. The only thing holding us from true currency and banking collapse is the pseudo-myth that the US (and to a lesser extent the EU) is good for all debts. I think it depends on whether the rest of the world (Asian markets and China in particular) are prepared to keep playing the game. What I'm scared of is that they will decide to dump their US dollar holdings and call our bluff. If they think they are strong enough they might just do that. -- (Sarcastic mission running veteran, 4+ years) [Brackley, UK] My budgie can say "ploppy bottom". You have been warned.
royal killer Amarr Shadows Of The Federation	Posted - 2008.10.05 14:04:00 - [17] Originally by: CCP Prism X But no worries, CCP has weathered worse and has no intentions of falling short this time around. Really hope I can say the same thing about Iceland (Yes, i live here.) -------------------- ding ding! Wrangler: Hello and w ding ding! Wrangler: ...damn nanowhiners.
Yon89 Triumvirate.	Posted - 2008.10.05 14:06:00 - [18] I for one welcome our new EA overlords ============= SIG SIG SIG
Pan Crastus Anti-Metagaming League	Posted - 2008.10.05 14:08:00 - [19] Take a look at this graph first... How to PVP: 1. buy ISK with GTCs, 2. fit cloak, learn aggro mechanics, 3. buy second account for metagaming
Pan Crastus Anti-Metagaming League	Posted - 2008.10.05 14:17:00 - [20] Originally by: Andrue The only thing holding us from true currency and banking collapse is the pseudo-myth that the US (and to a lesser extent the EU) is good for all debts. It's also apparently the fact that Oil and other goods are priced in US$ and many countries are keeping US$ in reserve because of it still. China for example has more than 1.4 trillion dollars in reserve (that was last year). If they switched to e.g. the Euro, that would crash the US economy, but they have no intention to do so right now... How to PVP: 1. buy ISK with GTCs, 2. fit cloak, learn aggro mechanics, 3. buy second account for metagaming
Verite Rendition Caldari F.R.E.E. Explorer Elitist Cowards	Posted - 2008.10.05 14:28:00 - [21] Edited by: Verite Rendition on 05/10/2008 14:31:31 Clearly the central government of EVE must do something before this crisis spreads in to EVE! I demand that CCP begin immediately drawing up plans to help support the banks of EVE, in order to ensure that the EVE credit market continues flowing. An injection of 700 billion ISK in to these banks to buy off toxic T2 BPOs would go a long way towards stabilizing the EVE economy. If this is not done, the consequences could be dire, including but not limited to bank failures and a population reduced to flying around in Frigates. CCP must act now before it's too late! -- In all seriousness though, I do feel bad for the Icelanders (is that correct?). Sure, they tried to bully our Goodwill Games ice hockey team in 1994, but that doesn't mean they deserve this. It is good to see that CCP is fairly well insulated against these matters however. Though we may have to begin discussing relief shipments of beer if Iceland loses its ability to easily acquire foreign goods. ---- FREE Explorer Lead Megalomanic EVE Null-Sec Player Influence Map http://dl1.eve-files.com/media/corp/Veritefw/FWinf
Sirius Problem Darkness Inc.	Posted - 2008.10.05 14:41:00 - [22] Edited by: Sirius Problem on 05/10/2008 14:41:56 Originally by: Pan CrastusIt's also apparently the fact that Oil and other goods are priced in US$ and many countries are keeping US$ in reserve because of it still. China for example has more than 1.4 trillion dollars in reserve (that was last year). If they switched to e.g. the Euro, that would crash the US economy This interesting 2005 article explains quite a bit about oil, gold and the relationship to the US dollar. The important part begins at the third paragraph after the graph. Article Link If in the future oil can be bought/sold in any other currency, such as Euros, the US Dollar will lose a lot of value. ---- Train more. Whine less.
Furnak Tye Caldari Mortis Angelus The Church.	Posted - 2008.10.05 14:47:00 - [23] Edited by: Furnak Tye on 05/10/2008 14:47:39 Guardian - Iceland Credit Crunch Sounds bad..... as in really bad! But CCP's revenue comes from the EU/US mainly, so won't this mean that they are in a financially strong position? ------------------------------------------- THE CAKE IS A LIE
Illwill Bill Minmatar Scandinavian Carebears AB	Posted - 2008.10.05 15:16:00 - [24] Originally by: Andrue Things are seriously screwed out there in banking land. I know, but I had some kind of illusion about Iceland being that little utopia in the west. Naive of me, I know...
Gimpb Sturmgrenadier Inc	Posted - 2008.10.05 15:29:00 - [25] Originally by: CCP Prism X You don't need to worry about CCP as all our revenue is in Euros and Dollars. If you really want to sympathize think about our poor non-icelandic employers who are paid in ISK yet have financial obligations, like student loans, in another currency. That really hurts right now. But no worries, CCP has weathered worse and has no intentions of falling short this time around. Hehe, I guess that means CCP's operating costs just went down--unless of course you guys are getting paid in euros or something.
Akyan InQuest Ascension Skunk-Works	Posted - 2008.10.05 15:38:00 - [26] Originally by: Furnak Tye Edited by: Furnak Tye on 05/10/2008 14:47:39 Guardian - Iceland Credit Crunch Sounds bad..... as in really bad! But CCP's revenue comes from the EU/US mainly, so won't this mean that they are in a financially strong position? CCP is very lucky, even if the worst happens because most of their revenue comes in via other currencies they are protected to an extent.
Dantes Revenge Caldari	Posted - 2008.10.05 16:23:00 - [27] Edited by: Dantes Revenge on 05/10/2008 16:26:17 Originally by: xttz Damn ISK sellers Although that was intended to be a joke, it's far from it. RL Isk and all other currencies are subject to currency speculators who buy up currency at low rates and sell at high rates. Often they flood the banks once the currency strenghtens in order to deflate the currency so they can buy it back at much better rates. I saw what happened in Indonesia. The exchange rate was 4,000 Rupiah to the UK Pound while I was there, just after I left, the currency speculators hit their banks by selling the Rupiah back to them. It deflated the currency to over 27,000 Rupiah to the Pound. The effect on the people there was really bad and it created poverty on an unprecedented scale even by third world standards. It's third world coutries that are targetted because their economy is so easily prone to destabilise and the practice serves to make already poor people even poorer since it hits the lowest paid people worst. Small countries like Iceland are also hit because they don't have enough revenue from exports to sustain an economy that can buy back Isk at a high rate. Detroying an entire country's economy purely for profit is an evil practice and should be made internationally illegal. Edit: spelling. -- There's a simple difference between kinky and perverted. Kinky is using a feather to get her in the mood. Perverted is using the whole chicken.
Mikal Drey Minmatar ORIGIN SYSTEMS Atlas Alliance	Posted - 2008.10.05 16:50:00 - [28] hey hey i bought last week for 183 :/ maybe worth waiting another week or two and getting more beer isk :)
Galan Undris	Posted - 2008.10.05 16:53:00 - [29] Edited by: Galan Undris on 05/10/2008 16:53:42 How the market really works Edit: linky
Disteeler Primera Fundacion	Posted - 2008.10.05 18:36:00 - [30] Zeitgeist II: Addendum (it's all about profit baby) http://video.google.com/videoplay?docid=7065205277695921912

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