In case the Euro falls

Acro

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Let us take a hypothetical scenario; in which the EURO as a currency goes through massive inflation over a short period of time and afterwards is replaced by local currencies of the countries.
Let say it starts happening in August and runs over the course of 3 months before being replaced by local currencies.

Let us take this scenario as is (so don't discuss if it would happen or not).
What would be the effect for Entropia Universe?

Selling time for Euro players; since the ped-to-euro/currency increases dramatically?
If you are living in a Euro country; would you redraw money if you know that by selling your modfap/other expensive items; you could buy a house or something of that value with your new (old) local currency?

If you knew it was coming up; would you deposit in EU; just to have a backup plan in case all your life savings become worthless?

What would be the effect on the in-game economy; with an estimate of 35% of the players having Euro as their currency?


Share your thoughts. Especially if you're in a Euro country.
 
If euro falls nothing big will happen. As currency is itself tied to USD and Mindark is operating in SEK. If SEK would fall, it could be fall of Mindark.

Euro falling against other currencies would mean Euro players couldnt afford to buy new stuff for a while, If currency falls the prices rise in real life and you wont be able to buy a house for highly deflated Euro.

Scenarion Euro falls 1000 times.
It means you get 1000 times less for same money. If house before that cost around 150k euro, the new price will be 150 mil euro.
You decide to withdraw some money from game, lets say 100k peds, which would give you about 10k usd. If euro has fallen 1000 times you will end up after currency exchange with about 10 million euros, which will be lot less than new house prices during that time.
Only people who would be happy are the ones with loans in EUROs and capital in game tied to USD, then they can withdraw the money and pay off their depts.

But i think EURO falling would lead to much larger problem and SEK and USD would also be influenced and it would be hard for any company with EURO customers to take this big hit.
 
Whiteknut summed it up pretty well.
If the euro would fall, my entropia account would only be worth more. If it devaluates as described above I might easily be able to pay off my mortgage dept from my modest entropia account :wtg:
 
Since it takes several months to receive a withdrawal, it is quite risky to speculate on gains in such a scenario. Consider opening another account denominated in USD with a forex brokerage or bank which allows for easy and low-cost shifting and rebalancing.
 
My thoughts on this...

Let us take a hypothetical scenario; in which the EURO as a currency goes through massive inflation over a short period of time and afterwards is replaced by local currencies of the countries.
Let say it starts happening in August and runs over the course of 3 months before being replaced by local currencies.

Let us take this scenario as is (so don't discuss if it would happen or not).
What would be the effect for Entropia Universe?

Selling time for Euro players; since the ped-to-euro/currency increases dramatically?

No, don't think so. Or at the very least, it depends on the player's view of Entropia Universe's future. So long as Entropia Universe doesn't sink, it might be more viable for that player to be holding onto his or her in-game assets...since they're valued in PEDs (and subsequently linked to the USD).

If you are living in a Euro country; would you redraw money if you know that by selling your modfap/other expensive items; you could buy a house or something of that value with your new (old) local currency?

If its something along the line like Forgo's (if I'm not wrong)...wherein he used the withdrawn peds to buy some property, fixed em up and rented them out to stabilize himself financially...then yes, by all means yes...so long as the money's being put to good use and working for you.

(But on that subject matter, it will also have to depend on the overall economy of the country that the player is living in. Would he expect the "new local currency" to devalue even further or not? Would the "property" he buy be left to rot and unable to rent out because of the bad economy, would the "investment" he subsequently put the withdrawn money into be at similar risk?)

If that's probable, then I suspect that it might be safer to keep them in the game first and observe the situation for a while.

If you knew it was coming up; would you deposit in EU; just to have a backup plan in case all your life savings become worthless?

No, I wouldn't put all my eggs into one basket tbh...and you shouldn't too. Sure you can put some into the game, but I'ld rather spread it out (irl) into other countries' currencies (which I deemed are "relatively" safer). And see how the new currency performs (for a bit). Its insane to act in impulse without thinking things through.

If that's not possible (investing into other countries' currencies), then I guess my next best bet would be to invest in stocks of infrastructure companies within the country's stock market. People still need food, water, electricity regardless of the tough times...


What would be the effect on the in-game economy; with an estimate of 35% of the players having Euro as their currency?

The deposits to MA from players in these countries will probably take a hit I reckon....since it would become that much more expensive to exchange into PEDs.

Share your thoughts. Especially if you're in a Euro country.

PS: These are just my opinion...and should not be taken as sound financial advice. :lolup:
 
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If euro falls nothing big will happen.
Scenarion Euro falls 1000 times.
It means you get 1000 times less for same money. If house before that cost around 150k euro, the new price will be 150 mil euro.

lol. The reason for my posting here is that I couldn't sleep last night and had dreams about really large amounts of money, which is not usual for me at all.
I consider scenarios like the above to be crazy at a new level of magnitude, so I would like an explanation for why this thread and my dream happened right at the same time. Can anybody tell me the astrological event that could have caused this?
(Are we all going to get rich from the BS?) ;)
 
EBC, BOJ and FED are racing with devaluating their currencies atm, but not in way wchich affect much "official" inflation. Thats why US and EU stocks are skyrocketing lately, as they can be obtained for less and less valuable currency. It's more hidden way of injecting money on market without increasing low money agregates ( especialy M1 ). Therefore and from few other reasons almost "overnight" inflation is not likely to happen.

But if it will happen it will be having straight impact on EU as long as MA will keep PED vs USD ratio. Result will be drasticaly increase of prices of literally everything ingame, maybe even new record highs, as PED value from more or less usable goods and items from ingame will have smaller value represented in RL after fixed echange rate wchich we have now.

Ofc that don't mean that gameplay will change, ppl start quit or do more withdrawals or smth ( maybe little more as their RL situation get worse but not proportional to outside inflation ). We will be just using more "zeros" durong transaction. Sweat can be 10 or 100 ped per 1K etc. Ofcourse if tat process will be rapid it will cause little chaos as sellers will have to "catch" RL inflation .

Only decent changes to shape of game and gameplay will be caused if MA break or change PED/USD ratio.
 
Whiteknut summed it up pretty well.
If the euro would fall, my entropia account would only be worth more. If it devaluates as described above I might easily be able to pay off my mortgage dept from my modest entropia account :wtg:

Wizz..Nice to see you again..:D
 
Personally - I was always thinking that the US economy was going to crash. It is crashing but for the QE bailouts and other artificial supports. It's built on a foundation of sand. I also think that MA was also aware of the fragility of the USD system and have quantitatively eased themselves away. This explains to me their lack of interest in the future of the game and dealing with support cases.

I don't think the game will survive any monetary collapse or financial disaster at all. And MA is still waiting as am I for the rug to be pulled out from under us. The pieces are in place.
 
I don't think the game will survive any monetary collapse or financial disaster at all. And MA is still waiting as am I for the rug to be pulled out from under us. The pieces are in place.

Ah well, the sky will eventually fall.
But to be honest, I gave up waiting for it :tongue2:
 
If euro falls suddenly, MA goes bankrupt because deposits will stop and massive amounts of withdraw requests will come in - ergo most players won't get anything out of EU at all since MA only has a fraction of total tt value covered by their assets.

It really is that easy.
 
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If euro falls suddenly, MA goes bankrupt because deposits will stop and massive amounts of withdraw requests will come in - ergo most players won't get anything out of EU at all since MA only has a fraction of total tt value covered by their assets.

It really is that easy.


There is chance euro fall will be faster than MA withdrawal time wchich is around 3 months. ;)
 
If the fall happens too fast, we will have other concerns than playing a video game anyway. You may even be happy to have spent it on nothing but memories when you get your pockets searched while a knife is held to your throat. Civilization is but a thin veil.
 
If you are living in a Euro country; would you redraw money if you know that by selling your modfap/other expensive items; you could buy a house or something of that value with your new (old) local currency?

rofl, no need for Euro fail to do that.

I bought a house for 5000 €, Mod FAP cost more, even for my ImpFAP I did pay more, although its less valuable today :D

In the village I live in, some houses sold for 3-3.5k Euro, that hits around the ImpFAP and many other nice toys.
 
rofl, no need for Euro fail to do that.

I bought a house for 5000 €, Mod FAP cost more, even for my ImpFAP I did pay more, although its less valuable today :D

In the village I live in, some houses sold for 3-3.5k Euro, that hits around the ImpFAP and many other nice toys.

what magical place lets you buy houses for 5k €? Oo
 
what magical place lets you buy houses for 5k €? Oo

Internet is your friend, if you know how to use it and where to search :D

Houses in city is expencive, house in villages is cheap, thats all about it.
 
Internet is your friend, if you know how to use it and where to search :D

Houses in city is expencive, house in villages is cheap, thats all about it.

in my country a cheap house in a village at the end of nowhere still costs 80.000 euro upwards...
and 80k is already really cheap. most houses in small villages still cost 120-150k and in citys more like 250-300k
 
this thread is stupid

In case $ falls. In case rouble falls. In case PLN falls.

Can we have threads for every currency please?
 
Can we have threads for every currency please?

No but here is a multiple pairs screenie of another "RCE game" i play. ( Do not make trades based on indicators in this image. These are extremely long term projections and not at all reflective of current trends and counter trends within the indicated trends.)

markets.png


OP, if your concerned about your wallet in EU and you wanna talk currency fluctuations then you would be much better off getting to grips with another type of real world RCE ;) . Now this one actually CAN give you advance notice of big "changes".

Go skill some pips in a real RCE ;)
 
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Can anybody tell me the astrological event that could have caused this?
I've now found out there was a solar eclipse linked in this case to wishes and dreams that ocurred during the day before on 26th February. Thanks me...

Actually on the topic of what a certain amount of money can buy, the difference is huge across different parts of Britain and even higher between different places in Germany, just to take two countries with 'modern' economies. The strength of one currency against another comes more into play when it comes to the relative amounts you get in relation to the domestic range of prices in a country and average earnings/costs of living there.

I think people will continue to play EU and deposit within quite a high range of dollar fluctuation, as deposits should be affordable/disposable money/income anyway.
It does strike me as a bit crazy though that land plot values in the new areas actually beat real world land prices in probably quite a lot of places.
Also, living on a dollar a day is something done by millions of people in exchange rate terms. It does provoke thoughts about living on this planet of ours as it is currently...
 
Set in motion and unstoppable
the title of this thread a fact
at summers high look at Italy

Also, I moved away from Europe so this isn't my problem anymore; but it is my families.
All I can say is that the same ppl that bought CLD when they came out, will be the same kind that
change their EURO in currencies like pound/SDK/ ausie dollar...

So we'll see the impact on EU this summer, or autumn.
 
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