Major Update Speculation Thread V4: Tonight's the Night For QR Codes - Games

[QUOTE=Waffle cones.;36442982][URL="http://blogs.valvesoftware.com/economics/arbitrage-and-equilibrium-in-the-team-fortress-2-economy/"]New Valve Economics blog post.[/URL][/QUOTE] "Initially, I had expected that a similar pattern would be replicated in digital economies, like Valve’s. I was expecting to find that some item or asset would emerge as currency in the context of games such as Team Fortress 2. However," Yep this is where he lost merit in my book. If he couldn't find the very obvious currency items in the TF2 economy, he's pretty clearly not good at his job.

[QUOTE=ned_ballad;36443017]I knew TF2 would be first :D[/QUOTE] Any post that relates to specific games will have to mention TF2, because it dominates steam trading. They hired him to help deal with the fact that almost every trade in the system goes through TF2 items. [QUOTE=The Calzone;36443083]"Initially, I had expected that a similar pattern would be replicated in digital economies, like Valve’s. I was expecting to find that some item or asset would emerge as currency in the context of games such as Team Fortress 2. However," Yep this is where he lost merit in my book. If he couldn't find the very obvious currency items in the TF2 economy, he's pretty clearly not good at his job.[/QUOTE] It's entirely possible that the majority of trades don't go through ref/keys/buds. The trading community uses them, certainly, but there are a lot of players who've never heard of trade servers. Vocal minorities are not majorities.

Economics blogpost tl;dr: Equations and Earmuffs.

[QUOTE=Waffle cones.;36442982][URL="http://blogs.valvesoftware.com/economics/arbitrage-and-equilibrium-in-the-team-fortress-2-economy/"]New Valve Economics blog post.[/URL][/QUOTE] [quote]I was expecting to find that some item or asset would emerge as currency in the context of games such as Team Fortress 2. However, a close study of our Team Fortress 2 economy revealed a more complex picture; one in which barter still prevails even though the volume of trading is skyrocketing and the sophistication of the participants’ economic behavior is progressing in leaps and bounds. [/quote] umm all the "Rare" and "Valuable" items are traded for monetized items (buds, keys, and bills) or money itself.

[QUOTE=426_Hemi;36443057]Yes ![/QUOTE] Fun fact: I never crafted my bananas for the project. I wonder what code I would've gotten. The economics post is interesting, though. It doesn't seem to be listed on the main page of his blog anywhere, and if you go to the other article, the TF2 one isn't listed any more. [quote]umm all the "Rare" and "Valuable" items are traded for monetized items (buds, keys, and bills) or money itself.[/quote] I think he's getting to the point that there are still a not-insignificant amount of trades that don't involve any buds/keys/billhats. You can get around fine if you don't want unusual hats and just want to deal in weapons or metal.

[QUOTE=zombays;36443042][img]http://blogs.valvesoftware.com/images/yanis.jpg[/img] [b]HEH BABEH[/b][/QUOTE] "Are you ... exciting ? : Because, maths are Sexy !" ... And i think he will say : "if you buy an item on MannCo Store ... i will kiss you ..."

[QUOTE=Waffle cones.;36442982][URL="http://blogs.valvesoftware.com/economics/arbitrage-and-equilibrium-in-the-team-fortress-2-economy/"]New Valve Economics blog post.[/URL][/QUOTE] This is great.

[QUOTE=Grahul1;36443112]This is great.[/QUOTE] yes it shows how retarded traders are and how buds will eventually crash because no one will be able to buy them (that or the buds will be reserved for the trading elite)

[QUOTE=zombays;36443042] [b]HEH BABEH[/b][/QUOTE] [QUOTE=Pfsm999;36443096]"Are you ... exciting ? : Because, maths are Sexy !" ... And i think he will say : "if you buy an item on MannCo Store ... i will kiss you ..."[/QUOTE] Stop acting like pre-schoolers you two

Major Update Speculation Thread V4: "wuts an ecomonics"

[QUOTE=thrawn2787;36443121](that or the buds will be reserved for the trading elite)[/QUOTE] But they already are

[QUOTE=Waffle cones.;36442982][URL="http://blogs.valvesoftware.com/economics/arbitrage-and-equilibrium-in-the-team-fortress-2-economy/"]New Valve Economics blog post.[/URL][/QUOTE] Even as a 3rd year math major, economic vocabulary and the math behind it all STILL confuses me. Even in the most difficult math classes we still use relatively simple words and phrases to describe what we're doing, but I feel as though the biggest barrier of entry for a hopeful economist is the way the language of the science obfuscates what you are doing. Economic mathematics is not all that challenging, since it comprised almost entirely of addition, subtraction, multiplication, and division. However, the terminology can make it challenging to know which step to take. I'll stick to multi-variable calculus and proofs for now.

[QUOTE=thrawn2787;36443093]umm all the "Rare" and "Valuable" items are traded for monetized items (buds, keys, and bills) or money itself.[/QUOTE] Dude pretty clearly didn't pay much attention. If you take one look on any tf2 trading site the first thing you'll observe is people asking for specific items. Metal in all of its divisions, keys, Bills Hats, and Buds. Everything is based off of those items, using them as a reference point. If he was unable to observe that, he's got no room to be writing about the game.

[QUOTE=The Calzone;36443083]"Initially, I had expected that a similar pattern would be replicated in digital economies, like Valve’s. I was expecting to find that some item or asset would emerge as currency in the context of games such as Team Fortress 2. However," Yep this is where he lost merit in my book. If he couldn't find the very obvious currency items in the TF2 economy, he's pretty clearly not good at his job.[/QUOTE] At the end he points out the prices of Buds and Bills as time went on, he obviously knows

Maybe next update is gold fish because Saxton stolen Australian Gold?

[QUOTE=GlobalS;36443156]Maybe next update is gold fish because Saxton stolen Australian Gold?[/QUOTE] It's Australium, not gold plus it's not even confirmed that he stole it.

[QUOTE=Kapellmeister;36443164]It's Australium, not gold plus it's not even confirmed that he stole it.[/QUOTE] Australium = atomic name of gold

[QUOTE=AkujiTheSniper;36443139]At the end he points out the prices of Buds and Bills as time went on, he obviously knows[/QUOTE] Yes I saw that, but he also explicitly stated that he observed no currency items. The fact that metal, keys, bills and buds acted as currency seemed to fly over his head.

[QUOTE=Waffle cones.;36442982][URL="http://blogs.valvesoftware.com/economics/arbitrage-and-equilibrium-in-the-team-fortress-2-economy/"]New Valve Economics blog post.[/URL][/QUOTE] I love how this guy is using complex math and explanations to explain things I've been doing for years. I feel smart.

[QUOTE=uitham;36443175]Australium = atomic name of gold[/QUOTE] Have you actually read the backstory for this game? Also: While it's not confirmed that HE stole it SOMEONE stole all of America's precious australium reserves. And that... lead to the space ship exploding?

Just got an 80.8 mb update to TF2 pop up just now. Anyone else get this?

[QUOTE=Mio Akiyama;36443202]Just got an 80.8 mb update to TF2 pop up just now. Anyone else get this?[/QUOTE] did you update tf2 yesterday... that's the same size as yesterday's update

[QUOTE=uitham;36443175]Australium = atomic name of gold[/QUOTE] No, Australium is a completely different, fictional metal. Gold's atomic name is Aurum.

[QUOTE=Crazy Ivan;36443195]Have you actually read the backstory for this game? Also: While it's not confirmed that HE stole it SOMEONE stole all of America's precious australium reserves. And that... lead to the space ship exploding?[/QUOTE] From what I gather, the Australium had some vital roll in the launch of the spaceship.. And it was replaced with gravel water.

I don't think Valve will make us do more QR codes for the update And then when it happens I'll be the laughing stock of the neighborhood.

[QUOTE=thrawn2787;36443210]did you update tf2 yesterday... that's the same size as yesterday's update[/QUOTE] yes

[QUOTE=uitham;36443175]Australium = atomic name of gold[/QUOTE] No. Gold's symbol on the periodic table is Au. This is a shorthand of a Latin word. Aurum. EDIT: Kapellmeister beat me to it. So... uh... [img]http://i.imgur.com/uC3S9.jpg[/img]

[QUOTE=Mio Akiyama;36443202]Just got an 80.8 mb update to TF2 pop up just now. Anyone else get this?[/QUOTE] Yes. Yesterday.

[QUOTE=Kapellmeister;36443164]It's Australium, not gold plus it's not even confirmed that he stole it.[/QUOTE] The description says fish not made of gold, besides, it would be a logical continuation of the story.

[QUOTE=The Calzone;36443176]Yes I saw that, but he also explicitly stated that he observed no currency items. The fact that metal, keys, bills and buds acted as currency seemed to fly over his head.[/QUOTE] "To complicate things a little, both in Nature and in some economy, an equilibrium can be either static or dynamic. A static equilibrium means no change. The ‘system’ under study is in complete [b]standstill.[/b]" The problem is we have unlimited amount of Supply of keys.So we will never run out of keys to buy expensive items.Where Earbuds and Max heads are limited ie Standstill.It will never drop.As amount of Earbuds:keys keep decreasing,the price will increase.Only unusual will decrease after some time.He explained some really hard boring things of economics/statistics in really really interesting way.