How does all of this work?

[Salva]

hi, im new you this and i have no idea how all of this works. why do some items price's are in ref and others in keys? why is the currency keys and refs?

im really confused and i dont understand a thing.

Thanks.

[Weedoof]

Some items are priced in refined metal because they are too low value to be priced in keys. One example would be a standard craft hat. Most people don't have enough craft hats to exchange them for a key, so refined metal is used as a lower-value substitute.

 

Likewise, keys are used as a higher-value currency, as they are directly tied to real-world currencies and have an actual use outside trading.

[Salva]

Some items are priced in refined metal because they are too low value to be priced in keys. One example would be a standard craft hat. Most people don't have enough craft hats to exchange them for a key, so refined metal is used as a lower-value substitute.

 

Likewise, keys are used as a higher-value currency, as they are directly tied to real-world currencies and have an actual use outside trading.

that explains alot, thanks for such quick response.

[`Yahiamice]

In TF2, you get random drops; mostly just "unique" quality weapons. You can craft two weapons of the same class to get a scrap metal. That's the base, lowest currency that's out there. Crafting 3 scraps gets you a reclaimed metal, and crafting 3 reclaimed metals gets you a refined metal. Those refined metals are the numerical base of low-value trading. Therefore, a ref is considered as "1 ref", 2 reclaimeds are considered as 0.66 (as it's 2 thirds of a ref), 1 reclaimed and 2 scraps should be 0.44 refs... and so on.

Keys (which cannot be crafted and can only be bought) are valued at much higher than a single ref, 20 refs approximately (although that is quite variable)

[Anhor]

1 reclaimed and 2 scraps should be 0.44 refs... )

0.33 ref + 2*0.11 ref = 0.55 ref

[Jackk]

Keys are the main currency because their base price (how much they cost in the in-game store) is only manipulable by Valve. Ref came around because a smaller currency than keys was needed. I'm not sure why those two item in-particular were chosen, but that's the way it is. On some level, I do think there should be a currency bigger than keys (like Buds used to be), but I guess that's a good reason why there isn't one anymore.

[JackArmstrong]

. I'm not sure why those two item in-particular were chosen

 

Because both are desirable for being able to be spent on the chance of making a substantial profit.  Keys are the only way to acquire unusual hats, and thus will always be in demand, while crafting can yield cosmetics which trade for more metal than it took to create them.  You can't gamble with, say, upgrade-to-premium gifts the same way, so those aren't a viable currency alternative despite also having a fixed price and a certain amount of demand.  Anyone with keys or ref has reason to use them, even if they aren't currently engaged in trading or don't plan to cash out, and everyone wants more.  

 

It also matters that you can use them almost instantaneously.  ToD tickets could in theory work as a medium currency to bridge the increasingly large gulf between keys and ref, since they can pay dividends by way of aussies or certain kits, but profiting off them in-game involves spending hours playing MvM, which a lot of people either don't enjoy or don't have time for.