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Subject: Are we about to experience GG inflation? rss

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John Peterson
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The BGG Support Drive appears to be going fantastically well and deservedly so, but, as I count it, we're about to see at least 5,000,000 GG introduced into the system. That's seems like a HUGE amount, as best as I can tell. Of course, I'm not in the BGG version of the Federal Reserve, so I don't know for sure, but it'll probably be reflected in the GG auctions....

Anyway, for any of you non-supporters out there, you better get in to keep up with the "Cost of Geeking" adjustment or you'll be left out!
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Chris Hansen
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This could really shake things up in the world of... microbadges.
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Russ Williams
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I don't know, but I've already noticed huge inflation in the number of people asking if there is going to be GG inflation...
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gg keeps getting introduced as newbies scrawl, beg, and work for them. I think the gg economy should be fine for the time being. *

chansen2794 wrote:
This could really shake things up in the world of... microbadges.
Was it at least one year ago that microbadges went from 15gg to 8gg? If not, do bear in mind that microbadges have been slashed in price, so I'd reckon that has at least half as much to do with their purchase as the gg from donations.



* Disclaimer, I am no economist nor gg economist.
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Rick Weckermann
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I may see if there is inflation, maybe help it in that direction. If this is true it should not take long for some one to buy it now my $20 for 404 GG which translates into over 100% inflation if GG has a 10 to 1 ratio now. Well it is now posted in auction, will get back to ya.
http://www.boardgamegeek.com/geekauction.php3?action=viewauc...
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Karl Rainer
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5000 times 100 = 500,000 ... not 5,000,000

So we are looking at apx 600,000 GG being added... an order of magnitude less than you feared. Nevertheless, I am not able to determine whether this will have any significance in the GG market.
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John Peterson
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You're correct. Thanks for the math-check. 500,000 is still a lot.
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unlike real world currency which gets used all the time, gg can do its job by just sitting there.
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Sean Ahern
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krainer wrote:
5000 times 100 = 500,000 ... not 5,000,000

So we are looking at apx 600,000 GG being added... an order of magnitude less than you feared. Nevertheless, I am not able to determine whether this will have any significance in the GG market.


Well, it's every 2010 supporter gets GG, not just the 5000+ who contributed during the drive. So it's probably quite a bit more than 600,000. As an aside, I just donated, so I figure I just created at least 250 GG. You're welcome.
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Copying a portion of my reply from [thread=5953545]another thread with this exact question[/thread]:

A lot of people are misusing the word "inflation" lately...

Inflation is the name given to what happens when prices rise across the board, as money loses its value. One cause of inflation, in real economies, is the presence of more money than at some previous time (i.e. the central bank injects more money into circulation).

However, BGG has, if nothing else, a planned economy. Prices are set by The Aldies That Be, and as he said (earlier in the thread quoted), they're not changing those prices (so it will just be easier to buy things for many of us).

On the other hand, the geekgold "Black Market" may see some inflation, because prices of GG-for-games (for example) are unregulated.
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David Debien
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I feel conflicted. On the one hand, my 3 Geek Gold I have in savings will be seriously de-valued. On the other hand, I will be getting 120(ish) new Geek Gold to rub together after the first. So bittersweet!
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Chris Ferejohn
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Quote:
On the other hand, the geekgold "Black Market" may see some inflation, because prices of GG-for-games (for example) are unregulated.


And I think that is the economy we are talking about here. You can only display 5 microbadges anyway, so more people having those doesn't really matter much. However, anything unregulated will probably inflate.
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fishhaid
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Yep. And here's 1 for asking.
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We have seen steady GG inflation the entire time I've been a member of BGG - I doubt this will have a significant long-term effect.
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Brett Porter
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Once I get my Uberbadge and as of now 7 microbadges I won't have much need for geekgold except tipping. I don't really worry about converting my geekgold in to real tangible goods.

There is no scarcity of microbadges, avatars, badges, and uberbadges so they don't work the same as your normal supply and demand curves.
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Randy Cox
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Just checking. We are talking about geek gold, right? Y'all do know it's not like, real money or anything.
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Randy Cox wrote:
Just checking. We are talking about geek gold, right? Y'all do know it's not like, real money or anything.


Randy! You don't understand! IT'S THE END! Between this and BGN, and Chapel *pant* *pant* BGG is done diddley doomed!
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Rob
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Randy Cox wrote:
Just checking. We are talking about geek gold, right? Y'all do know it's not like, real money or anything.


If it can be exchanged for real things - like games and legal tender - then even in the limited and controlled world of BGG it is real money.
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Sinister Dexter wrote:
Randy Cox wrote:
Just checking. We are talking about geek gold, right? Y'all do know it's not like, real money or anything.

If it can be exchanged for real things - like games and legal tender - then even in the limited and controlled world of BGG it is real money.

Exactly. In fact, the value is measurable because in the GeekAuctions people buy GG with real money and real games that have an actual material value. Here's how the value of GG has decreased over time:
2005: 3GG per US$
2007: 7GG per US$
2008: 10GG per US$
2010: 15GG per US$
2011: 20GG per US$?
A large injection of GG as a result of the GG Bonus for 2010 Supporters certainly won't slow down this process.

NB: For more details, see the thread I originally posted about this here - John Peterson asked me to re-post these numbers here.
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John Peterson
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Thanks, Ender!
 
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In these worrisome times of potential inflation I would recommend investing in Geek Silver or Geek Platinum as these are commodities in very short supply. Rumor has it that even the admins aren't stocked with this extremely rare coin-of-the-realm.

Another sound investment is to convert your geek gold into real gold before the inflation occurs.

This spreading of the virtual wealth is Bolshevism pure and simple! Now the most banal and common users can outfit themselves with such finery as only the chosen has been able to enjoy. Avatars and microbadges for all the plebs and members of the third estate! devil
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Dan Edelen
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Pone4games wrote:
In these worrisome times of potential inflation I would recommend investing in Geek Silver or Geek Platinum as these are commodities in very short supply. Rumor has it that even the admins aren't stocked with this extremely rare coin-of-the-realm.

Another sound investment is to convert your geek gold into real gold before the inflation occurs.

This spreading of the virtual wealth is Bolshevism pure and simple! Now the most banal and common users can outfit themselves with such finery as only the chosen has been able to enjoy. Avatars and microbadges for all the plebs and members of the third estate! devil


Those familiar with Steve Jackson Games' Revolution! know that blackmail and force carry more power than gold.

Now, what are the BGG equivalents? I'm thinking a scathing review by Tom Vasel and...
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Rick Weckermann
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Inflation as ender puts it has been steady.
I said i would get back to you on this matter. Today my auction here ended buy it now for $20 i got 404 GG. End of 2010 for me GG stands at 20 GG per US dollar. GG inflation is real and rising at an alarming rate.
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Richard Pakpreo
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ackmondual wrote:
Was it at least one year ago that microbadges went from 15gg to 8gg?


... It was? I missed that memo. I still thought it was 15 gg. Fire my secretary! Grumble grumble grumble.
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Zé Mário
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I intend to give GG as a passive-agressive trick during discussions.

Quote:
I despise what you said so much, I'll give you some GG out of pity.
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