Jump to content

All Activity

This stream auto-updates     

  1. Past hour
  2. A Dying Economy?

    All I read was this, and I agree!

    When I saw this topic I thought it would have been @karma miguel buying iTunes so he could buy a ton of pokemon go stuff before the 1 year event ends lol

    Well now....
  5. Julia

    1. Angelcake


      clickbait :3

  6. Baloo

    A backpack.tf podcast reboot with better quality would be cool.

    1. Angelcake


      hello erryone my name is Angelmander

  7. I was wondering how much the spells Voices From Below and Team Spirit Footprints would add https://backpack.tf/item/2036575411
  8. Today
  9. A Dying Economy?

    You seem to be confusing the devaulation of refined comapred to keys in the TF2 economy, and the recent price change of refined compared to US Dollars due to a policy change at backpack.tf. The latter was not a devaulation of refined's value but rather a correction of an inflated value. The whole "pricing refined using refined sales" thing started out when keys were ~3 ref and refined was like 40 cents, meaning people actually bought and sold significant amounts in cash at that value. Now that keys are 30 ref, refined is only worth 6 cents, and nobody wants to buy or sell it for cash since it just isn't worth the hassle. Therefore, the sellers that do sell refined sell it for an inflated price to compensate for the inconvenience of trading it. This makes the previous refined prices on backpack.tf, which used only refined sales, inflated, making the dollar value of everything on the site inflated. One could argue that the decision to price everything in terms of refined (note that your backpack value is still calculated in terms of refined), then price refined in cash, was shortsighted, as it could have been predicted even in 2012 that refined would eventually become worthless. The whole cash pricing system should have been based on a cash price of keys, with lower tier items based on fractional amounts of that value, not the other way around. Nevertheless, it is how it is, and the developers have indicated that changing the backbone of the website at this point in the time would be immensly complicated and simply not worth the effort. They instead went with the workaround of pricing refined in cash based on key sales (as it should have been in the first place), causing a one-time decrease in the cash price of refined due to a correction of an error. That has more to do with the refined price in keys, which is a whole different matter and irrelevant to this discussion. I will argue that the previous system of pricing refined created an "artifical" price, and that the recent correction allows a more "natural" price. True, but with keys at 30 ref and key profit margins at 1 scrap due to immense bot competition, the margin for error is ~0.4% assuming key prices are kept current. I don't see this as a significant problem, compared to the much more serious problem, in my eyes, of refined being priced in increments of $0.01. With refined currently at ~$0.06, that means the smallest possible increment in price is almost 20%. This is a serious obstacle to the accurate pricing of items in cash on this site. The "price" of refined on backpack.tf, which arguably has no use other than the site's internal cash pricing algorithms, dropped one cent. Do you see key/cash traders everywhere dropping their prices by 30 cents? No? I thought not, because the previous price of refined implied a wholly inaccurate key price of $2.25. The new value implies a key price of $1.95, which is much closer to the actual value of keys in cash. By "worth less" you mean a meaningless number on a website has decreased? Because I'm pretty sure whether you tried to cash out before or after the price change, you would have gotten the same amount of money, which in either case would have been less than the previous value, and much closer to the current value, assuming of course you got full price for your items. also, lol you're wrong
  10. CrafterofGenius

    end me

  11. Happysedits

    how can the same unusual sell 15 times to a different people in 1 day amazes me sometimes 1

    1. Angelcake


      how the fuck are you barely 16

    2. Happysedits



  12. Alfie Omega

    It's hard to be an angel with these horns and spiky tail.

    1. ♥Nick♥


      you can be anyone's angel if you dress lewdly

    2. Carrots


      I can be yuor angle or yuor devel


    I'm addicted to a game called Evony
  14. Need valve portrait

    class: medic Team: Red loudout: noble ammasment of hats effect Green black hole Heat of winter painted purple byted beak Willing to pay 2 keys http://steamcommunity.com/id/Famiglius/ contact me on steam
  15. Angelcake

    peggy is tired of your shit

    1. unstopaBULLY


      Peggy is a midget.

    2. karma miguel

      karma miguel

      King of the hill?

  16. S> 1/1 Arcana Slick cut+ QS 1/2 Skid LId

    Not a bad offer, but lower than I'd like to take, added both of you to discuss.
  17. Khaos

    Watching anime with twitch chat is twice as entertaining

    1. Weedoof


      twitch chat makes basically anything entertaining

  18. SpotlightR

    Might be cashing out everything except my Milkmans and a few gift hats to buy one of my dream cars this weekend. Wish me luck.

    1. Show previous comments  5 more
    2. ѕιи


      He's gonna buy this 4VPhDt9ASkCbxCqTea6WUw.png

    3. unstopaBULLY


      Think you meant this 2010-toyota-prius-photo-266214-s-450x274

    4. ѕιи


      You're mistaken, he's getting this 100% bspuJPLaTwORAdnrYWYLsA.png


    Why in iTunes codes?
  20. A Dying Economy?

    I've noticed there's always consistently a lot of posts when the inevitable refined price drop happens. You'll have people on one side saying, "Keys are ruining the economy! backpack.tf, stop dropping the price of refined!" And on the other side you'll have people saying, "This is a good thing! Now you can buy more cosmetics with just one key!" I feel that both sides seem to have an incomplete vision of how the economy, or any economy works, how prices are determined, and such. First off, the people on the "keys are ruining the economy," might have a point. People use backpack.tf to gauge their backpack value, and quite frankly, artificially determining refined price by key price simply devalues refined more than what was naturally happening on the market. Through price conversions, you lose a little value in the conversion itself. You don't get what you put in when you convert US dollars into Japanese Yen or vice versa. You lose real value, even if in some cases you gain purchasing power, because as with any business, you are charged for services (the service in this case, of accurately converting your currency into a different currency). So when you base refined prices off of key prices in terms of refined and real US dollars, you end up devaluing refined, because keys will inherently be priced so as to provide the seller profit in terms of refined. So basically, money-changing is inherently depreciating, and to base your currency's inherent value (instead of relative value, which is what you are getting), you are depreciating the currency which is refined in this case. When you combine that with the large trust placed in backpack.tf, you just create a downward spiral of distrust in the currency, which reduces its inherent value, which will then be lowered again by key price changes to retain profit from the depreciated refined currency, and then the site will lower the price of refined again to match the price key changers set to gain profit, depreciating refined again, and this happens over and over, destroying any value refined had. Now, we would just find a new item to base as a currency, but then again, that's not the only problem with refined being artificially dropped in value by having its key-relative value be falsely equated with its inherent value. Items that are priced under a key are priced in refined. So when you lower the price of refined and shake people's faith in the value of refined, you simultaneously shake people's faith in the value of refined priced items. This causes a down-turn in the economy, as everything you owned just took a massive hit in value. TF2 items are now worth less in real value, and for a lot of people, that matters. Smart people will see this trend and cash out and invest their steam bucks elsewhere, or more likely, become fed up and give up on trading, and all those items in their backpack will sit there, and thus the economy will shrink. Of course, the "keys are ruining the economy" people also miss the fact that refined prices will naturally fall due to the lack of a refined sink causing refined to continually grow in number, and thus decrease in value. I know that the admins are approving these changes because they want to streamline their backpack pricing, but in the end, I think they're actually doing real damage to the economy by taking this shortcut. They either don't realize that their seat of authority creates a self-fulfilling prophecy of price, or they do and don't care. See flaws with my analysis? Feel free to post them. Just a hint though, "lol you're wrong" is not a flaw in my analysis. Be specific and actually have criticisms. I'm not an economist, but these price changes haven't been following the market as it has been naturally progressing. This seems to me to be unintentional market manipulation.
  21. Happysedits

    1. Angelcake


      finally the movie is coming out so jacksfilms can't milk the shit out of it anymore

    2. Khaos




  23. DrDavid52

    Best scam attempt nZlL1av.png

    1. ♥Nick♥


      only a moron would fall for that

    2. ThePickleCat



    3. SpotlightR


      I see a Wii U, not an Xbox One??

  24. I'm selling my whole BP for $95 add me on steam if interested
  25. Hey guys i am quickbuying hightier unusuals for 40% off i have 74 keys thanks for offering .Also i need atleast 50% off on taunts
  26. Yesterday
  27. ThePickleCat

    How is this an untradeable conga?? https://backpack.tf/item/3320619967

    1. Budi


      From a Valve trade ban?

  1. Load more activity