Unsatisfied with growth

currency @Sythe

 

ok what can i get with it? that was the original question.......

 

so you made sythe gold just for people to buy and sell it? i mean with every other currency you can do the samething but theres other purposes like buying goods and services. people buy/sell bitcoin but you can use bitcoin to buy food/purhchase items and such. as of now theres no other purpose for sythe gold other than people just buying it to have it? seems pointless. I myself have like 280 but I cant do anything with it. I could go trade it to someone for 1m gp but thats nothing. It is a currency FOR SYTHE, ON SYTHE. It would be cool if you could use SG for other perks on sythe rather than it just being there to be bought/sold for basically nothing. maybe make a perk where for like 1k sythe gold you can get your own minirank? similar to the donation perks but with sythe gold

 

Shin just responded on the Discord that he probably cant write a proper response to my arguments. One can draw its own conclusions from that.

 

This is a separate note I'd like to make a suggestion on. From the thread here, the cost for an early bump is proportional to the amount of gold in circulation: Bump Button and Early Bumping

The example cost is 779 Sythe Gold. In the market place Sythe Gold tends to go for $0.01/gold meaning an early bump would cost $7.79. That seems unreasonably high. I'm wondering if you could see how often it's actually used and if it's not very often, consider lowering it so that users and companies can reconsider using it

 

If its too high people will not use it and the price will drop because it has no other use/more is coming out in circulation.
If its not too high then its being used correctly and there's no issue

 

The calculation doesnt specify that (the motivation given by Matthew on the linked thread). I am actually afraid that its the other way around; the more Sythe Gold there is on Sythe the higher the price of bumping will be. Just seems more logical.

If the above is true we're basically in a loop. No one is going to bump because of the high cost -> No Sythe Gold leaves Sythe -> The price rises.

 

Is there a way to track the usage of it? How many times it's been used and how often it's used? If not, depending on the current cost of a bump I'd lower the percentage. Anything north of like $1-2 is too much and people wouldn't use it often I'd say

 

It needs to be like 1/5th of what it currently is.

at $8 a bump that would mean every single bump a site would have to move somewhere between 75-100m 07 to profit and that's unrealistic.

People bump threads for branding, Sythe only accounts for 14% of my traffic directly, most people see the rsgoldfund name and just directly visit our site or google us, they don't actually visit the thread from what I can tell of our visitor paths, they just see the titles and visit sites directly or google them.

Most sites(myself included) would never pay $8 for a bump when we could go to google ads and get 15-20 clicks and guaranteed targeted conversions.

It's pretty much a dead feature at the current price. I wouldn't mind seeing it at like 100-200 sythe gold a bump($1-$2)

 

I say make early bumps (50-100 sg) each so people actually begin to use it and go from there.

 

Can't hurt to try but I feel as though that's still too much. But ya never know, start from there and see how it goes

 

I think its to high.

If you realistically asked me what I'd comfortably login and pay for an early bump each day the answer I'd give you is $2.50(250 sythe gold in current market).

However considering if u do lower the price it will likely jack sythe golds prices up you may want to just nerf the % of the total in economy so that it hovers roughly around $2.50.

It's safe to say the sythe gold price will likely increase to $0.02-$0.03 if you choose to nerf the price of the early bump however considering we've had early bumps for like ~3-6 months now and its been used 6 times I would probably say at this point its worth nerfing the price even if it drives SG up.

$2.50 a bump is the sweet spot for me personally, not sure about everyone else. I feel like I can realistically average at least 25m 07 more in sales through the early bump which is my break-even at that point.

Personally I'd go lower rather than higher price wise because this way it requires the actual thread owner(myself, bogla, divica, so on) to actually physically be on and buying early bumps through Sythe gold, given the mass automation of bumping on Sythe this may provide some incentive for gold site owners & individuals to be actively visiting the markets and its threads as whoever visits and gets the early bump at the best time will get premium sales, it adds a edge of competitiveness back into the markets like the old days, this would be a slight fix to the automation auto bumpers have caused, its by no means a full fix but it does help increase competition. If I'm online browsing the market forums and I want to stick it to a gold site I can sit and auto bump right above them all day long if I really wanted to, I essentially get a reward for actually browsing and actively using the gold market sections which is definitely something Sythe has lost due to automation.