Mendon Dornbrook
United States
Phoenix
AZ
flag msg tools
"Go with the grace and protection of the Lord." It's the usual mantra for the big hero.
badge
The ticket to the future is always open.
Avatar
mbmbmbmbmb
At 10:56 PM Texas Standard Time, Wednesday May 16, user aaronseeber posted as follows:
aaronseeber wrote:
geekmod geekgold bug
There appears to be a problem with the geekgold award system on imagemod at the moment. My geekgold balance has gone up by more than 5 today (all accounted for by my geekmod listings geekgold balance), and I know I haven't moderated sufficient images to account for this!
You can read the thread here:http://www.boardgamegeek.com/thread/166350

This was nine days after Thommy8 posted his excellent thread on the GeekGold exchange rate. He published this table:


Of which he wrote:
Thommy8 wrote:
You can see that while the exchange rate has fluctuated a bit since the Auctions were introduced, it has remained surprisingly steady (and appears to have become more stable over time).
Emphasis added. You can read Thommy8's original article here: http://www.boardgamegeek.com/article/1486191#1486191

However, as of today, Saturday May 19, fewer than 72 hours after the geekgold bug was identified in a forum thread by aaronseeber, there have been four geekgold for USD auctions that have ended. The final bids of which were submitted after aaronseeber noticed strange fluctuations in his geekgold balance.

The total ratio of geekgold to dollars in these four auctions was 470:82, yielding an average of 5.73 gg/$. The previous four auctions yielded 277:46 with an average of 6.02 gg/$. While this isn't an incredibly surprising decrease in the value of gg, I wonder if this is an artificial depression resulting from the inflation of geekgold on BGG that was noted by aaronseeber. Furthermore, now that the geekgold error has been corrected and a number of users are currently in debt, I do not believe that there will be as much ready geekgold cash to bid up the prices of USD for geekgold as users slowly regain the necessary geekgold to pay off their debts for their purchases of avatars and various badges.

It's worth noting that the population of values for post-inflation auctions is too small to compare to pre-inflation auctions, statistically with a meaningful result. Furthermore, the fluctuation in GG values is probably not outside of the range of plausibly normal variation. Also, it is probable that Thommy8's post increased the number of USD available to purchase GG, thereby causing its value to decrease. The only way to determine whether or not the glitch may have caused a meaningful decline in the value of GG is to watch its value over the coming weeks and to see if GG auction values increases steadily to pre-glitch levels (though, such a fluctuation might still be
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
Mendon Dornbrook
United States
Phoenix
AZ
flag msg tools
"Go with the grace and protection of the Lord." It's the usual mantra for the big hero.
badge
The ticket to the future is always open.
Avatar
mbmbmbmbmb
It's worth noting that had the quantity of remained at inflated levels, we might have expected to see the value of USD in go up. But since A) a bunch of people spent it on avatars and other cool stuff and then it got all taken back, there is a dearth of in the market with which to buy USD.

It's also worthwhile to point out that, in all probability, the people who dumped their on avatars and badges when they had it, were probably not in the market to buy USD with their . So, I'm not sure how meaningful any of this is, it's just speculation.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
James Davis
Australia
Canberra
flag msg tools
Avatar
If you read what I first said in the thread by thommy. Youll see I predicted something like this happening if we werent careful. But I think aldie made the right choice of how to deal with it. Shows how important careful management of GG is.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls
1603-1714
United States
Georgia
flag msg tools
badge
Now I can add text to my avatar? Sweet! How do I do it?
Avatar
mbmbmbmbmb
From what I've seen, most if not all of the users who purchased items with the unearned GG purchased microbadges, avatars, and geekbadges. Thus, these purchases took the money out of the system and then left the users in debt. Had these people tranferred a large portion of the GG to other users, via auctions or large tips, there might be a general inflation of GG value, but it appears that nearly all of the extra GG is no longer in circulation. As was stated, the debt of some users might even drive the value of GG up for a brief period while the debts are paid off.
 
 Thumb up
 tip
 Hide
  • [+] Dice rolls