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[Discussion] CS:GO skin economy in the following 10 days and in the future. Plus, what developers needs to do ASAP.

This was originally written to /GlobalOffensive but deleted.
A dollar bill only worth a dollar when there are goods and services to back it up, it's only a piece of paper when you look at it visually with no connection to it.
Similarly, a CS:GO skin only worth and retain its value when there are people use them as "Play skin" "Collector's item" "betting items" "trade up items" and also it has real world currency value ever since opskins open up a channel to cashing out as a way to retrieve your skin value through paypal and bitcoin. Other than that, I could not think of a way to retrieve your already-spent-money from steam wallet funds to convert it back to real money, besides gathering steam wallet funds, buying games to sell as gift, buying VR headsets and sell, selling skins through paypal with the risk of getting scammed.
I personally do not gamble and bet myself, but the gambling / betting ban happened recently will sure have a huge impact on the current state of the CS:GO economy. In my opinion, this is definitely will not be the end of CS:GO because CS:GO revenue runs on many things, game copy sales, sticker sales, operation pass sales, music kit, sponsorship, case keys, community market 15% tax, ELEAGUE on TV, etc., these are the building blocks of CS:GO as a while. Eliminating the gambling/betting aspect will not kill off the game but certainly will have a huge impact on the overall value of the items on the skin market. Valve has a video to explain its context.
We currently have 23 sites received a notice from valve about shutting them down within a time frame of 10 days, and in this period of time, what will people do to these "forced withdrawal skins" that they don't really have a value with them? (Not their play skin, not their collector's item, definitely not a betting item) They will have the following options, 1) sell it to steam community market 2) sell it to 3rd party cash out website like opskins/bitskins/lootmarket 3) keep it to themselves during the mess and hope for new regulated gambling site to respawn, both 1) and 2) will drive down the market price of those "unwanted forced withdrawal items which have significant values".
If you are familiar with the CS:GO economy, you will know steam sale, major tournament sticker sale are responsible for market price crash, we have been through Steam summer sale 2016 and Cologne 2016 sticker sale, prices are already down to the most, plus the following 10 days by gambling ban, we will see another overall dip of the price curve. While steam sale and sticker sale are types of crash that is recoverable, however the damage done by gambling ban is not. After this incident, there will be a surplus of skins (mostly bettable items) flooded in the market along with an overall already-on-market skins rot on the market which lost its demand due to gambling ban, both of which will drive down the market price significantly and permanently, to the point similar to TF2, Dota 2. (Correct me if I'm wrong) And when overall market price is down (old skins which are bettable), there is really no point in opening old cases but new cases, the old cases skins somehow retain its value for such a long time has a correlation with its betting value. Since there are so many of these surplus of skins rot in the market, so so so much that we might be entering a phase where the old will be forgotten and only the new will be the center of the game. Such ecosystem, I wouldn't be calling it an "economy" anymore but some sht that you see in real life, iPhone 1, 2, 3, 4, 5, 6, so on, Call of duty 1, 2, 3, 4, 5, 6, so on, FIFA 95, 98, 2000, so on. One of the reason why I choose to play CS:GO instead of other yearly title like COD/BF is all because of this reason, I do not want to work hard on skins that I earn in the past gets obsoleted so quickly (inb4 fREAKAZOID fuck your skins comment, I play the game for skin collection as primary reason, FPS is only secondary). And here is a graph showing how people just move onto new things and forget about the old completely, credit to Chescos.
So now, I wanna talk about the problem where the skin economy has absolutely no outflow but constant inflow. As I said earlier, we are going to have a surplus of skins on the market along with a lost in demand of bettable skins as a whole. At the same time, the influx of skins into the economy is not changed at all (or not significantly), people that want new skins will continue to open new cases and inflate the market, there is no reason for them to stop. Basically, besides trade up contract and getting trade banned, there is no other real way for skins to exit the market, and with the things I mentioned before, we have inflow > outflow for which is definitely not healthy for the market in the long run. In my opinion, Valve better need to step up and make a skin drain system to balance out this ecosystem, or CS:GO is no different from COD. (Play value long term-wise)
As a result, market price will just keep going down hill until valve step up to do something, should you panic sell right now and quit the scene once and for all? Or take this gambling ban as a round lost, go for an eco round and hope for the best in the future?
tl;dr version
-CS:GO bettable skin does not hold its previous value anymore in the short run and long run
-Another market crash after steam summer sale, cologne 2016 sticker sale
-Supply > Demand in a fked up eco-system that causes items become obsolete in the long run
-Valve needs to step the fk up or face elimination
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[megapost] NYANdeas

We've come a long ways and I'm at a point where I've decided I'm going to really pursue this with everything I've got in terms of energy and devotion. I've got a prior commitment hanging over my head towards the end of this month, but once I resolve that, I'm planning on spending a couple months really digging into NYAN and seeing what I can do. So far we've just chipped away at the edges, but already we've seen some pretty impressive results. Just a brief recap of our successes first and then I'll talk about my ideas.
We've gone from 1-3 satoshi to 10-30 satoshi prices. Not bad. We've got two new block explorers up in response to the previous one going down. We've got an irc channel and active community members both here and there. And we've got me, the crazy bastard who's locked up 25% of the available supply and is planning to do everything he can to build up NYAN to its proper greatness, and got tipnyan going and did a major giveaway with it. Oh, and we survived a dump of ~10% of the available supply quite comfortably. Probably other stuff I'm forgetting about right now.
So, what next? Well, a lot of stuff. This is just a huge dump of ideas for discussion and inspiration. It's not necessarily ordered, although I'll try to have it go roughly from simplest to most complex. These are by no means promises or guarantees. This is just stuff I think would be cool.
Some of this isn't a "implement this", it's more of a blog post prompt or general concept.
submitted by coinaday to nyancoins [link] [comments]

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Bitcoin Bling is an online e-commerce site that offers Bitcoin-branded merchandise like bumper stickers, patches, keychains, and other objects. About Bitcoin Bling Bitcoin Bling was founded in 2011 by Paul Manafort, a cryptocurrency enthusiast who wanted to create an online storefront where individuals who possessed Bitcoin could purchase products using the digital asset. A German collective launched a massive campaign to incentivize people to disseminate stickers with positive crypto messages. Continue reading A New Guerrilla Marketing Campaign Aims to Create Bitcoin Awareness The post A New Guerrilla Marketing Campaign Aims to Create Bitcoin Awareness appeared first on CoinTelegraph . Jul 10, 2014 - BITCOIN prediction chart , 4 hours timeframe interval, 2014.07.07, elliot wave forecast indicator Get the latest Woodcoin price, live LOG price chart, historical data, market cap, news, and other vital information to help you with Woodcoin trading and investing. View live XRP / U.S. Dollar chart to track latest price changes. Trade ideas, forecasts and market news are at your disposal as well.

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