I've been reading your blog
for a while. I stumbled upon it somtime after I had taken my first
steps with TP. I started with about 20g I think and I was flipping
platinum ore and linen scraps at the time. I think it was about a year
ago. I have learned many things from your blog and often I've read
things that I figured out myself before, ensuring me that I pretty much
caught the hang of it. I think I made the most money on flipping agony
infusions in the early days, selling bolts of damasks.
Thank you for showing me GW2Spidy, I've been using it ever since you recommended it on your blog.
now I'm watching uinidentified dye exploding, just as you predicted. I
just wish I bought more. I was away everytime when they were 17 ish
Another thing that I thought about, and please don't take it the wrong way ;)
was thinking somewhere along these lines: You have quite a bit of
readers and you are a huge authority for them. You probably have a
significant impact on the economy. Do you observe huge difference after
you post a tip?
Let give an example. You have a hunch, that the jewelcrafting patch
is coming soon. You buy a lot of cheap materials - copper, silver, gold
etc. Then you post a tip on your blog causing a huge demand wave. That
wave causes other players to think that something's going on and buying
too leading to price explosion. This is where you (and forum members)
can sell some of your mats for a nice profit.
I'm not meaning it offensive or that you're doing it. It's just
something I thought about, that people with huge influence on stock
exchange probably do in real world?
Cheers and thanks for all of the tips :)
Hey there Syzmon. Thanks for the great email. Regarding unidentified dyes, they are blowing up and they will continue to blow up. I don't recommend buying them outright because anyone who has waited this long is going to panic in a week when they haven't gone up more than a few silver. Unidentified dyes have always been for investors with strong stomachs, which I think you have. But for everyone else, only buy unidentified dyes if you're willing to wait four months for them to get back to their original price of 35 silver. I have thousands of unidentified dyes, and I bought some more when they were at 17-19 silver. They are like a currency to me, almost like my swiss bank account. At any moment, I usually just keep around 50-100 gold on my character, and I withdraw unidentified dyes to get more funds when needed. I am glad that GW2 had the insight to not allow this precious item to tank forever in value. It was a hunch but they got it right with not allowing monsters to drop them anymore. Eventually the price will even out, but the new influx of players will ensure a nice increase in unidentified dye prices for months to come.
Named dyes are doing quite well for flippers as well. Rare quality dyes can get you 5+ silver per flip! With the panic over unidentified dyes, I wonder if rare dye flipping has been overlooked by the masses.
On to your second point. Of course I can manipulate the markets for evil, but it's not as simple as you make it sound. Only in rare cases could I actually make a dent with the few thousand followers of this blog. I can think of a handful of times where we definitely changed the economy, but it is an extremely rare event. Like grapes, which only had a few thousand items available. When I mentioned they would go up in value temporarily they skyrocketed to like 10 gold per stack of 250. I realized this was an anomaly due to the scarcity of the item, so I did make some nice gold selling on the speculation. However, I told everyone what was going on and recommended the selling of grapes at the same time I sold them.
The grape sensation was created by a reddit post, so I didn't create the hysteria but I helped people on this blog take advantage of it.
For items like copper, platinum, mithril, etc, I do not have the numbers of followers necessary to affect their prices. Even if I had 100,000 investors following my advice, we wouldn't make a dent in such common materials used by the millions of players.
When you see me post about an item in the game, it's to help everyone make a profit, not just myself. I tell you my moves and I make them as I tell them. Sometimes this backfires and gets all my buy orders undercut but I could care less. I don't need gold in this game and I'm in the business of getting you more gold. It would be counter intuitive to selfishly mislead members of the blog for more gold.
In terms of efficiency, I am better off purchasing gems for gold with the money from the forum on this site, then I am attempting to mislead the members into inflating my investments. I hope that this logic helps to alleviate your concerns. Thanks for the email!