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I played it for a few months just for the economics of it. This is how I learned what it means to 'corner the market'. I was trading water runes. It was a resou
by jongjong 4y ago
I played it for a few months just for the economics of it. This is how I learned what it means to 'corner the market'. I was trading water runes. It was a resource that had a niche usage for high-level wizards, when people wanted to sell it, (e.g. when they changed battle strategy), they usually wanted to sell them quickly, when they wanted to buy them, they also wanted to have them quickly. Also it was required for some more advanced spells so the people who bought them had been playing the game a while and had a lot of gold coins. Also because it was for such a niche use, substantial sales didn't occur very often. At one point, I had enough Runescape gold to buy up every offer that came up on the market for a low price, then I just waited for a desperate rich person to buy them all in bulk at a much higher price. Nobody else could provide them in bulk because I bought up all the smaller offers and big players who were engaged in high-stakes battles and had a lot of gold coins didn't want to run around buying up small amounts from a lot of different people.
Eventually, I had enough gold coins to buy a rare purple partyhat which already cost like 50 million gps at that time. I quit the game when I went to university, sold the partyhat and gave away all the gps to some in-game friends. I regret doing that haha becuase now they're worth billions today and you can sell them for real money for thousands of dollars.
- deleted 4y ago[deleted]
- jongjong 4y agoIn retrospect, I feel silly for having missed out on the Bitcoin trend in real life given my experience. I didn't see these virtual currencies as having real value. I think maybe because selling in-game items for real money is technically against the rules of most games.
- donmcronald 4y ago> This is how I learned what it means to 'corner the market'. That’s similar to my experience in WoW. I custom wrote an add on to buy all glyphs below a certain price. It also spit out a list of all glyphs that were above that price. When I started I would craft missing glyphs (above the price), but eventually ended up with enough gold that I could just buy out the bottom of the market and re-list with higher prices. I made tons of gold with almost no effort. There were a couple others that did it too. I didn’t know them, but we never undercut each other by more than 1 copper. It was a nice little oligopoly and I was in-game rich. Lol.
- LazyMans 4y agoI used to do this for crafting supplies in WoW. Eventually I stopped actually playing the game and instead sat in the auction house all day buying up all the silk bolts or whatever and reselling for slightly higher