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Curious: How many people keep large sums of money in game?

Are You Concerned There Could Be A 'Run On The Bank' in EU?

  • Yes

    Votes: 34 28.6%

  • No

    Votes: 85 71.4%
  • Total voters
    119
L

Lydar

Hatchling
Joined
May 15, 2011
Posts
3
Being new to the game, I was somewhat astounded by the amounts of money being paid for some items along with the amount of money being spent in general to play. I was wondering if there were many players who have a substantial amount of money deposited in this game (e.g. $500 or more). Also, reading MAs recent financials, is anyone worried that there could be a run on MA and you could lose your money? This would worry me especially reading how it is almost impossible to withdraw money from the game at least in a timely manner.
 
Lydar said:
Being new to the game, I was somewhat astounded by the amounts of money being paid for some items along with the amount of money being spent in general to play. I was wondering if there were many players who have a substantial amount of money deposited in this game (e.g. $500 or more). Also, reading MAs recent financials, is anyone worried that there could be a run on MA and you could lose your money? This would worry me especially reading how it is almost impossible to withdraw money from the game at least in a timely manner.
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$500 isn't much if you've been playing for a few years! Many players will have easily that in assets yet still have been depositing less per month than a subscription to some other MMORG.
 
I think some deposit 5k ped per month. Yes, there's risk, but look at real life stock market. Some say you should not do that much unless you can do 10k usd per year... and guess what, real life stock market has NO TT guarantee! :)
 
Yep I have more then 500$ in but no I am not worried.
If you read the report for 2010 then I could see how you might be worried, but you must remember that was during the global recession. The 2011 report seems to show things have turned around(at least I think that it shows, to lazy to read the whole thing so I just skimmed it :) )
 
How many hobbies are there out there which cost you less than 500$?!? I mean even IF the system would be shut down without repayment... that wouldn't be too much of a loss. Personaly I put in about 1k$ into EU and I have been playing for about 4 years now. Sure sure 1k$ might sound like much but if I played a subscription based MMO and some offline games that would have cost me the same ammount. However I didn't do that since I spent my gaming time in Entropia Universe. So since this is a RCE everyone seems to worry about cash cash cash... but what I would REALLLY be mad about would be the TIME I invested into the Entropia Universe if it was shut down while I am still active in it. Many of the hours I spend in EU have been great entertainment for me in one way or the other. However for some hours the team names like: life's a grind and then you revive are a good description so I would be mad if those where spend in vain. Not about the $ I lost in those hours.
 
The rest of my family are fisherman, their hobby has a hell of a lot more money tied up in it then I have in Entropia when you look at the boats, motors, rods etc, and when they go out fishing they throw $100 worth of fuel into it, just like an entropia depo .

This game is just that, a recreational game played for fun.

Some people can afford to spend a lot of money playing it (equivilant to reef fishing from a sweet 12m boat), some only spend a little (equivilant to sitting on the beach with a handline).

I personally have a few thousand US$ worth of gear sitting on my avatar, but I have been forced to play the last 3 months without a deposit. I play depending on what disposeable cash I have at the time (which has been nothing lately due to my wifes new shopping hobby :) )

So just like any hobby the bottom line is don't sink in more than you can afford to, in the end nothing is garunteed.
 
Lydar said:
Being new to the game, I was somewhat astounded by the amounts of money being paid for some items along with the amount of money being spent in general to play. I was wondering if there were many players who have a substantial amount of money deposited in this game (e.g. $500 or more). Also, reading MAs recent financials, is anyone worried that there could be a run on MA and you could lose your money? This would worry me especially reading how it is almost impossible to withdraw money from the game at least in a timely manner.
Click to expand...

i would say i play easy 5 or more hours a night and then well over 10 hours on the weekend
(to scared to work out actual hours)

so imagine if i enjoyed the cinema as much

5 x 7 days = 35 hours
35 x 52 weeks = 1820 hours

Cinema ticket price 14 dollars for 2 hours

1820 / 2 = 910 hours

$14 hours x 910 = $12740

So for one year going to the cinema the same amount of hours i play EU is $12740

been playing almost 4 years so $50960 to go to the movies for the same amount of entertainment

So going by those calculations im well in front the difference is i have an avatar worth supposedly around $11k US with around $4k US of items and gear

So depends how you look at things :) I didnt even mention the popcorn and drinks i would need at the cinema and the fuel travelling there and 50% of the movies would of been crap.

At the end of the day if you are enjoying yourself then it's money well spent.

Disclaimer: if any of the figures are incorrect then its because the windows 7 calculator is broken. :cool:

I feel im better off than the guy going to the pup pissing and smoking his money away for 4 years anyway :) I should know ive been that guy aswell and i prefer EU

edit: oops, i voted No as i don't think this game will die off anytime soon, even if it got into major financial difficulties im sure some of the major LA and Planet partners would try and figure something out to save their mammoth investments.
 
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Lydar said:
Being new to the game, I was somewhat astounded by the amounts of money being paid for some items along with the amount of money being spent in general to play. I was wondering if there were many players who have a substantial amount of money deposited in this game (e.g. $500 or more).
Click to expand...

Ask this question again in a few months from now, after you've deposited more than $500...

We'll see if you're still astounded. :cool:



<FYI, I'm still astounded...>


Astounded is one of those words if you say it over and over and over again, it startes to sound really funny and loses all meaning. This obviously has nothing to do with my post, but I thought I'd just toss that out there for yah. :eyecrazy:
 
I see this game as a life style and prefer to spend in game rather that the movies, pub crawls, casino, night out in real life. It's cheeper than a spending a few hundered dollars and most of the time I end up with a hangover the next day lol. I prefer to deposit when the Australian Dollar is high like at the moment 1.06 AU = 1.00 US, so when the dollar is low like for the past 16 months at round .89 to the US $ I only depo a smaller percent. I keep a seperate bank account in RL and auto transfer a set amount into it each week, so if i want to save it for a few weeks or months and then depo in game its not a shock with the depo amount. Its better to build up your bank in game slowly for the big ticket items in game. Stick to a budget,and plan ahead.
 
I used to go to 1 - 2 movies per week. The pub 2-3 nights a week. I'd buy a new video game every month or two.

I spend part of the movie and video game in EU. I spend that pub time playing, so I don't spend that money(and I'm not putting nearly as much crap into my body).

I'd say I'm at a profit of $50 - $100 per week just in savings from the pub.

I have maybe as much as 2 - 3 thousand dollars into EU over 5 1/2 years. And, maybe $7500 - $9000 in pocket that I didn't spend at the pub.

Overall I'm in great shape thanks to EU. I'm still way ahead if they were to close the doors this moment. And as an added bonus, if I ever quit playing I can get something back and I also have the chance, however small, of hitting a nice ATH or close to one.
 
Lydar said:
This would worry me especially reading how it is almost impossible to withdraw money from the game at least in a timely manner.
Click to expand...

Takes 30 business days to withdraw, sometimes a bit longer from what i hear. I hardly call that "almost impossible to withdraw". Timely? Well, there are some reasons why i wouldn't like the idea if one could withdraw within few days, but thats a matter of opinion of course.
 
Ops voted yes when I wanted to click no... Have deposited over $500 and not worried about MA..
 
I'm no longer concerned by MA financials, even if they lose money some years they are so good on finding new way to get some that its not a problem.
 
Crone knows many rich people that would love a to own their own (part of the) game.

He's not back yet to $ 500 but it is getting close.
 
depoed way more then that in my 5 years of play and also withdrawn more then that without a bit of pain, and just with a smittens of patience.
Afterall they are not a bank so i dont see anything wrong with 30 workdays to process.

(edit hell i even got hofs bigger then that and 5k ped is not considered massive)
 
IMO the average player will have around 5k per in assests.

It really isn't that much considering the investment for some of the gear that's required.

Plus the safety you get from gold card if you deposit 500 or more.


A better question would be around 10k usd. THATS alot in game!
 
Lydar said:
Also, reading MAs recent financials, is anyone worried that there could be a run on MA and you could lose your money? This would worry me especially reading how it is almost impossible to withdraw money from the game at least in a timely manner.
Click to expand...

the long withdrawal time makes a "run" quite unlikly. it makes withdrawal quite a considered action, you cant just hit withdraw because you're pissed (either meaning ;) ).

further, to sell out, most need to liquidate high value assets. that needs a purchaser, which needs a depositor. this makes a "run" almost impossible, there can only be a slow drawn out depreciation, with time therefore to halt, reverse and recover.

$500 is common. $5k is probably not unusal. the comparison to other non-game hobbies is good to give perspective, i use the fishing one someone did above, but many others could easily take up thousands of $ over a few years with little chance of ever seeing a fraction if anything back.
 
As others said 500$ isnt a large sum in that game, at good old (Markup-)days that was a usual daily hunting turnover for me and a lot others.
As Hunting became close to non-profitable and rl things more important i cashed and chipped out the most and kept a bit above 10 K Ped(+ some skills +some stuff with markup maybe 20K), to start again when things become better.
Theese days i started to like mining a bit more and it seems they fucked it up just in time :laugh:

As far as they give me good reasons and back some trust i have no problem to invest again in something like assign r150+dante+adj Fap + Ped to turnover+ Skills = 100 K Ped in that game easily and thats only on a nice medium level
 
Lydar said:
...snip...players who have a substantial amount of money deposited in this game (e.g. $500 or more). ...snip....
Click to expand...

This ain't much. Guess some ppl deposit twice or 3 time that each month.

Ah welcome to EU you'll get used to it.
 
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As said, 500USD isn't much in this game. Players lose 500USD overnight just in devaluations and market fluctuations. There is so much money in this game, I think MA keeps it fairly quiet. If you are lucky enough to get that 100K HOF ATH, will your tax man in your country ever find out... :)
 
I know at least one person who has more money on ped card then on his RL bank account :ahh:
 
I have no worries because fucking game ate all of my peds allready.
In a certain way 500$ is a bankroll for few hour play but if we're talking about hi-end item investments I would be worried like hell, noone is guaranteing u nothing but TT.
 
Just to give you an idea of how much the assets there are ingame, here are some numbers from the annual report:

The value on the accounting day is ca 68,6 million SEK (last year ca 62 million SEK).
This does not include assets that have been requested to be refunded.

That is roughly 10,8 million USD so the total TT value ingame is above 100 000 000 PED.
 
Amber Knightley said:
Just to give you an idea of how much the assets there are ingame, here are some numbers from the annual report:

The value on the accounting day is ca 68,6 million SEK (last year ca 62 million SEK).
This does not include assets that have been requested to be refunded.

That is roughly 10,8 million USD so the total TT value ingame is above 100 000 000 PED.
Click to expand...

And how much cash on hand do they have? Is it enough to cover that?
 
Sebulba Dragon said:
I have no worries because fucking game ate all of my peds allready.
In a certain way 500$ is a bankroll for few hour play but if we're talking about hi-end item investments I would be worried like hell, noone is guaranteing u nothing but TT.
Click to expand...
that's why you need to be the one looting the uber gear, and a lot of gamblers try. :) ;)

I know at least one person who has more money on ped card then on his RL bank account
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I think many of us have been there a time or two, especially if the RCE IRL is not doing too hot. Like I said, at least in game you do have the tt guarantee. Good luck finding that in any bank or stock market.
 
i would keep if i would have some lool everytime i get someting i burn it and skill :) i depo every month too Lot lmao
 
Rumsponge said:
And how much cash on hand do they have? Is it enough to cover that?
Click to expand...
Good question. Personally I thought MA were denied their ability to become a bank (ie MindBank) due to their inability to produce enough funds in their valves. But that's just a five minute theory.
 
Cerberus said:
Good question. Personally I thought MA were denied their ability to become a bank (ie MindBank) due to their inability to produce enough funds in their valves. But that's just a five minute theory.
Click to expand...

From what I understood of the report, they were allowed to become a bank but chose to put the project on hold due to it being too expensive (2010 was a bad year, remember?) and now in 2011 decided to shut down the project entirely to save money (it was a very costly project and they needed to cut costs)...

They were not denied becoming a bank tho.
 
Oh man for a new player you trolling like hell!


Go play wow or leave us alone please! MA is here to stay don´t worry!
 
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