Addressing the vCash inflation issue

[CG123]

My second point would solve the problem, cap what people can start off with at one million, therefore Mark, -D-S-B-, Shantanu, plus myself would only start off with one million, and it would scale down what others have, so we still have a slight advantage.

 

[AbhishekS]

My second point would solve the problem, cap what people can start off with at one million, therefore Mark, -D-S-B-, Shantanu, plus myself would only start off with one million, and it would scale down what others have, so we still have a slight advantage.

Bad idea!
Don't be greedy Callum.

Starting it all over again is the best option.

 

[CG123]

How am I being greedy?
I'm pretty much saying I'll give up over 50 million, while all you guys won't have to give up crap.

 

[riz7khan12]

the inflation is just due to more and more activity in the vbookie thread ofcourse when you earn more you'll be betting more and since vcash isn't used for anything else except for donating more and more of it is being transferred around.

so stop donating if you want to stop the inflation. ... ofcourse it doesn't really matter.

 

[ZexyZahid]

I think this was discussed two years ago already. I was then one of the sole people who had earned a lot of money. But in the end nothing happened.

Personally I am favour of everybody starting over at 0 and letting the interest stay and delete in the interest cap from the bank. Nowadays you have tick in 5 or 6 zeros to make a bet.

The big problem had started when the 'millionaires' starting to give money away. This has basically thriven the inflation to such high proportions. It's pretty simple. For example bread costs 1 dollar. But if a government decides everybody to give money that bread eventually could costs 10 dollar, because everybody would like to get more money of making bread and people have more money to spend on that bread.

Back then people used to be happy when they won 1.000 from Fantasy Cricket. We should go back to that time.

 

[Chewie]

I think rather than stopping donations altogether, they should be restricted to a sensible amount.

Like 1,000.

 

[Abhas]

Just get rid of the Donation system. Everything would be alright.
By reducing everyone's vcash to 10% or all starting at the same level again would not solve the problem. That is just a reactive measure.

Like I said in the other thread, removing the donations would definitely help.
Here are my reasons:
1. PC cannot be called a real economy, with proper money circulation. Here, everytime we win in a bookie event, new money is created. This, itself gives rise to inflation.
2. Now, if this money is circulated, this would lead to inflation of the entire 'economy'.
If one person wins, and keeps the money to himself, he can't do much, can he?

Another thing it would improve is the fact that people will start betting carefully. At the moment, some people bet on an event, and if they lose, they simply ask for a donation and get it. This causes them to bet recklessly, and without fear.
Rather their entire bank on one event, they should create a portfolio of bets to reduce the risk.

 

[Chewie]

I think that donating can't really be removed. But I think a limit on the amount that can be donated would help.

Removing multiple bets on matches where it is either win, lose or draw would also help.

While winning in vBookie creates money, losing removes it from the circular flow. While I agree that more is created than lost, that is what happens in a real economy (money supply normally increases over time due to printing new money)

Chewie added 0 Minutes and 44 Seconds later...

Also donating is a key part of a number of subforums here. In particular the leagues forum, but also the story forums. Us in the league subforum wouldn't be too happy if donating were to be removed completely.

Chewie added 2 Minutes and 11 Seconds later...

Possibly along with a long donation cap there should be loans you can get from the PC bank And if you don't pay your interest (by depositing money into the bank), you can't use your vCash. This would stop people asking for money somewhat because they can take out loans.

 

[MattW]

I think vBookie needs to not include one-sided events, or use line betting where possible to overcome that impact, no one should be able to bet the house on a sure thing and take huge wins with no risk.

As I said in the other thread, removing the bank would mean there wouldn't be a built in daily inflation, where basically everyone gets 40k for doing nothing.

Removing donations wouldn't be practical with how leagues are all set up on the basis of vCash, it serves a decent purpose. Devaluing likewise would do nothing but divide the problem.

Resetting vCash wouldn't do much good either, unless you remove the fundamentals causing the huge increases.

 

[Aditya]

I think vBookie needs to not include one-sided events, or use line betting where possible to overcome that impact, no one should be able to bet the house on a sure thing and take huge wins with no risk.

I myself don't like to create vBookie events in which one-sided results are expected. Those events are made for so called "easy vCash". Sadly, in the near past I have seen few such events being created. I hope I and other vBookie team members will avoid creating events which are expected to have one-sided results.

 

[CG123]

I think vBookie needs to not include one-sided events, or use line betting where possible to overcome that impact, no one should be able to bet the house on a sure thing and take huge wins with no risk.

From what I've seen the massive winnings come from random events.
E.g. with Dutch, he put like 5 million on a football WC leading goal scorer bet, and the odds were for any other player not on the list, and it was paying 750/1, hence that brought a few billion dollars into the system, and then he gave away massive donations, e.g. to me and quite a few others.
So he say he had two billion, if you split that up into 50 million lots, 40 people are then going to have 50 million vCash, leading to a massive inflation.

Of course there are the locks that are 1/100 odds, but even if you put 100 million on that you're only going to get one million in return, so they don't lead to massive winnings.

 

[drainpipe32]

How about dividing everyone's vCash by 100, but make the minimum 50, 000?

 

[ZexyZahid]

I actually lost a lot of money on the so called one-sided events, because there are a lot of surprises in there.

Removing the bank doesn't help. People should have the choice either to bet or save it. It's their choice to make. Also I didn't receive interest in the past years for putting money into the bank, so that much interest isn't given away.

To counter inflation you need drastic measures. I would say bring everybody to earth and delete everybody's cash and give out 100 each to each person. Whenever somebody is broke hand them 25 vCash. Just as it was early on. In normal life nobody would have 1.000.000 to spend on a single bet. So just to correspond reality, this should be done.

Donation should be limited. Maximal limit between 100 or 1.000.

 

[Chewie]

My 5 prong plan:

1. Make everyone have 5,000 vCash
2. Banks have a much lower interest rate (3% per quarter), but no cap on the amount able to be distributed
3. Donations are restricted to 100 vCash
4. When someone is broke give them 50 vCash
5. No multi-bets (can't bet on more than one option)

 

[Biggy]

Funny that Mark made this thread but lately he's been the one making hefty donations. Gave 2 members 50 mil each for posting a picture of a barking dog.:sarcasm