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Relic Currency exchange.
https://na.nasomi.com/forum/viewtopic.php?f=19&t=2864		 Page 1 of 5
Author:  Deadwing [ Mon Mar 27, 2017 11:54 pm ]
Post subject:  Relic Currency exchange.
Current fees per HQ are:

Jade to Mont = 5k
Mont to Jade = 5k
Jade to Byne = free
Mont to Byne = free
Byne to Jade = 10k
Byne to Mont = 10k

I will also sell options contracts to those wishing to speculate on exchange rate fluctuations.
Author:  Arx [ Tue Mar 28, 2017 5:30 pm ]
Post subject:  Re: Relic Currency exchange.
Could you elaborate on what "options contracts" are and how they will function for us peasants that don't work on Wall Street?
Author:  Mr.Wiggin [ Tue Mar 28, 2017 6:51 pm ]
Post subject:  Re: Relic Currency exchange.
...did Deadwing just create a stock market?
Author:  Deadwing [ Sat Apr 01, 2017 7:45 pm ]
Post subject:  Re: Relic Currency exchange.
Let's suppose you're working on a relic. You know you can farm the currency within a month, but you're worried dynamis and/or treasure hunter will be patched before then. I will sell at the (rate of 5k per hq) the right, but not the obligation, to buy relic currency at the current price regardless of future price movements. This is known as a call option. If a month goes by and you farm up your relic without incident then the contract expires and the ~700k you paid in insurance is kept by me. If, on the other hand, a week later Treasure Hunter is patched and the relic gets 4x harder to obtain, you will still be able to buy at the old price to either complete your relic easily or sell the currency for a massive profit.
Author:  Deadwing [ Mon Apr 03, 2017 3:44 am ]
Post subject:  Re: Relic Currency exchange.
Kubisnaxx wrote:
more insider info, eh?


F you.
Author:  Naimah [ Mon Apr 03, 2017 10:17 am ]
Post subject:  Re: Relic Currency exchange.
Deadwing wrote:
Kubisnaxx wrote:
more insider info, eh?


F you.


Whether true or false, that is how everyone is taking this post, +50% in relic price in a day, /slowclap.
Author:  Deadwing [ Tue Apr 04, 2017 2:05 pm ]
Post subject:  Re: Relic Currency exchange.
Why would I be selling insurance to protect against something I knew was coming?
Author:  ipuntplatypi [ Tue Apr 04, 2017 6:09 pm ]
Post subject:  Re: Relic Currency exchange.
So, I may be misunderstanding something here, but if DW had known that the price of currency was going up, providing players the opportunity to buy at pre-nerf prices would be effectively giving away gil. This sort of change is exactly what someone selling insurance does not want to see.

Unless DW is playing the long con and thinks that folks will buy his insurance now seeing that it could pay off for them, and he has insider knowledge of some impending change that will reduce the price of currency once again, then it really wouldn't have made any sense for him to sell protection against price increases while knowing that the price increase was on the way. I don't know what history there is with him using insider info to manipulate things in-game, but making those accusations in this instance is essentially vilifying him for using insider info to set up a charity.
Author:  Galice [ Tue Apr 04, 2017 6:36 pm ]
Post subject:  Re: Relic Currency exchange.
ipuntplatypi wrote:
So, I may be misunderstanding something here, but if DW had known that the price of currency was going up, providing players the opportunity to buy at pre-nerf prices would be effectively giving away gil. This sort of change is exactly what someone selling insurance does not want to see.

Unless DW is playing the long con and thinks that folks will buy his insurance now seeing that it could pay off for them, and he has insider knowledge of some impending change that will reduce the price of currency once again, then it really wouldn't have made any sense for him to sell protection against price increases while knowing that the price increase was on the way. I don't know what history there is with him using insider info to manipulate things in-game, but making those accusations in this instance is essentially vilifying him for using insider info to set up a charity.


Agreed. However with the way someone puts it when they make it seem too good to be true, they are probably trying to bait the opposite reaction. In that sense, TH would be getting buffed, and thus he'd profit from his call option contracts as the strike price (current market price) would go down due to more drop rates.

Nonetheless, playing options on a private FFXI server is a super tryhard thing to do and to me implies he either (1) knows something is coming, or (2) he's trying to brag that he knows stock market terminology to an audience that probably vastly isn't familiar. In reality, this is handled by a trustworthy third party options broker bound by law and here you'd have no hard contract that binds this guy to actually do what he says he's going to do. It would be pretty easy to screw this guy over if he actually stayed true to his word since you yourself can have an influence on market prices, so I don't know why anyone would EVER do this unless they had insider information.
Author:  Brotatochip [ Tue Apr 04, 2017 7:01 pm ]
Post subject:  Re: Relic Currency exchange.
this whole thing sounds super legit.
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