I had obtained several HMAP and Fire of Hel bp's, and had about 500 peds to work with, so I decided ok... Time to do what I never have done much... Take a big ticket item (Compared to BSM and Settler Shins, which by the way still hold my personal number 1 hof in crafting, is an uber expensive couple of prints to click... And I did them on full condition. I had a rather remarkable run of luck, was actually somewhat global spamming. No hofs though.
The only logical conclusions that can be drawn:
1. The more expensive the TT clicks are, the more likely a hof or global will happen, and the more often they will happen.
2. If you are going to do full condition, you want to be able to do a significant number of clicks. If you risk everything on just a few, you may hit it big but most likely will go broke. I did a full condition 1600 click run on BSM, it took me 400 clicks before ANYTHING, EVEN RESIDUE on partial successes dropped. Literally 400 dry clicks. Then, I started globalling every few hundred clicks. Had I only did a 400 click run, on full condition, I would have been broke.
3. Yes, it takes nerves of iron on a crap run, but if the run is long enough it will balance out somehow. Unfortunately it might be days or weeks later if you can't run a big enough run :(
4. If you want less volatility and a safer return percentage, keep the slider in the green. As long as it is green, I've always done ok. If I do full condition, its either a really good run or a VERY bad run. So this is why you need a very big run for it to balance out.
5. I think a lot of people start getting disgusted on expensive clicks with little coming out and quit before the big one hits, but, theoretically, you might quit after 500 clicks, but the 5000th click might be the ATH. You just don't know. So, I firmly believe that every click you do, every bomb you drop, every mob you shoot, brings you closer to hitting something big. For one thing, it is statistically impossible to go forever and not hof, and not global if you are turning the peds over.
6. The only way to get big hofs, is to turn over a LOT of ped. And a LOT of clicks. Even on quantity, if you turn over enough ped and clicks, a big one will happen.
I know it is hard to not get discouraged... My best advice if you are ONLY seeking uber hofs and don't care about the item being made, your best returns seem to be doing those prints which A. are done the most, and B. have the lowest Markup on materials. The system is designed to figure everything in TT values, and any markup is simply a user to user transaction, and well... Any markup on any loot is what has come out of someone elses pocket, or yours for that matter.
A lot of this is common sense at least to me... But if any of this information is helpful to anyone in any way, I am glad to have shared it.
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Showing posts with label economics. Show all posts
Showing posts with label economics. Show all posts
Monday, August 6, 2012
Thursday, February 2, 2012
MINING: Extractor Efficiency
The economics of extraction is not something most of us think about. We know that bigger extractors pull a little more ore and faster clicks, so we assume bigger is better. I was shocked to read that someone said that the TT extractors are the most economic. So, I made time to do the research, and astonishingly, the TT extractor is ALMOST the most efficient extractor in the game. This is in terms of amount of decay to pull a given amount of ore out of the ground. Yes, it might take a long time to pull a claim using TT extractor... But in many cases it has at least two to three times the efficiency per pec than the other extractors.
The only extractor shown to be more efficient than the Caly TT extractor is the Rockripper 1.
This research is based on the database at Entropedia... But I must admit, yes, it is there for all to see. Check it out for yourself, go to entropedia.info, and click mining, then excavators, and look at the efficiency per pec.. How many of you considered this aspect of mining? I certainly hadn't given it a second thought. But I DID notice that when mining globals, it would cost more decay on my 104 than the TT extractor. This I did notice. It seems that there is a consistent tradeoff between efficiency and time. In all things. Faster shooting guns cost more in decay. Faster extractors cost more in decay. And, since L blueprints even have the highest success ratings of any print, it can be said that they TOO cost more in decay for faster success.
I encourage you all to have a look at the data yourself. I know some of you worry about SIB. In this case, don't. Mining does not have any real impact on your prospecting, at least not until you are super high level. Also, I want to point out: Using a smaller extractor means it takes a LOT more clicks to get a claim out. This results in MORE skill gains. So you will actually be skilling faster using the TT extractor, it's just a matter of can you bear the slow pace. Though, the excavator speed enhancers might be a great idea for the TT extractor.
I have also stumbled onto a few more ideas too that I want to bring to your attention, but I will give them some more thought before I start posting them. Good luck and thanks for reading!
The only extractor shown to be more efficient than the Caly TT extractor is the Rockripper 1.
This research is based on the database at Entropedia... But I must admit, yes, it is there for all to see. Check it out for yourself, go to entropedia.info, and click mining, then excavators, and look at the efficiency per pec.. How many of you considered this aspect of mining? I certainly hadn't given it a second thought. But I DID notice that when mining globals, it would cost more decay on my 104 than the TT extractor. This I did notice. It seems that there is a consistent tradeoff between efficiency and time. In all things. Faster shooting guns cost more in decay. Faster extractors cost more in decay. And, since L blueprints even have the highest success ratings of any print, it can be said that they TOO cost more in decay for faster success.
I encourage you all to have a look at the data yourself. I know some of you worry about SIB. In this case, don't. Mining does not have any real impact on your prospecting, at least not until you are super high level. Also, I want to point out: Using a smaller extractor means it takes a LOT more clicks to get a claim out. This results in MORE skill gains. So you will actually be skilling faster using the TT extractor, it's just a matter of can you bear the slow pace. Though, the excavator speed enhancers might be a great idea for the TT extractor.
I have also stumbled onto a few more ideas too that I want to bring to your attention, but I will give them some more thought before I start posting them. Good luck and thanks for reading!
Sunday, December 4, 2011
Speculation on Entropia Universe Returns
Fact: MindArk's standard response regarding any payback issue or loot streak issues says that total returns are based on a PERCENTAGE.
So, since this is an important question everyone tends to ask at some point, I thought I would offer my own opinion as to the subject.
First, every indication is that the system does NOT pay out more Peds than it takes in. The system is obviously sustainable, and no company in their right mind would put that at risk. Many real life friends have obtained their payouts without problem other than waiting several weeks to several months for it to finally arrive. However, I do want to point out some people that haven't been paid have likely given Mindark a reason not to pay them such as violation of terms and conditions. There HAVE been exploits. There may still be some exploits. But the thing of it is... Exploits destroy the value that makes this game worth playing. It is a theft against each and every one of us that play.
Second, I believe the percentage paid out is based on the total spent into the system. Most of what everyone puts in, comes out somewhere along the line. The main edge they would have would be in keeping a portion of the repairs and decay, as well as auction fees, but who knows what percentage of each bomb or gunshot goes to MA directly. However, granted that even an absolute noob can tower on their first day unamped, which has happened, not often though, indicates that you do not have to pay in more than you loot.
But what I feel takes place is this: Every ped and pec spent is tracked. Every transaction you make. Loots are only figured in TT returns. But the higher markup items you use, the higher markup your loot tends to be, such as finding Rugaritz or Dunkel with the VRX2000 finder. But the thing is, the percentage kept by MA is easily compensated for by markup. Markup is extra value which derives from supply and demand. There is a limited amount of money fighting for a limited amount of resources and items. Markup is essentially what has come out of other people's pockets. But it ensures that everyone stands a good chance at either break even or profit.
IF you had to rely only on TT returns, you notice quickly that you almost NEVER run a surplus. You might have 1 in 10 mining runs that give you more in TT value than you spent. However, 7 of those 10 runs may bring you profit with markup.
I also want to stress that skills do affect returns as well. As a level 1 or level 5 prospector, I almost exclusively mined lysterium, oil, belkar, blausariam... As I ranked up, I gradually seen shifts from the low value ores to higher value ores such as narcanisum and niksarium, and later, kanerium became a regular find. Also, I have noticed as my skills go up, the frequencies, and average sizes of my hofs and globals have gone up.
I am not saying you can't hit good ores with low skills. I'm just saying you are going to hit fewer than if you had more skill. At level 28 prospector, I almost never hit Lysterium, and only occasionally hit Belkar and Blausariam.
So while they are paying out a percentage of what they take in, I wholly believe they use skills to control the distribution of that percentage. Certain finders are better at finding certain ores. But it takes certain skills to use certain finders. But also, another variable comes into play. It does matter where you are. You can mine all you want on those islands south of Port Atlantis and never hit anything but Lysterium and Oil. But... That's not to say you wont have ANY compensation for your troubles since you do still stand a chance of finding say, angel scales or hansidian, but TT value is low, and so your reward is simply dependent on what others are willing to pay for the stuff. But it works out, because chances are to use a 3K% markup ingredient to craft, the item it goes into is worth a great deal of markup as well, so the crafter can easily recoup his investment, and it is ultimately the final customer footing the bill for the materials that went into making the item.
There are a lot of complex principles at work here in Entropia... I hope I've been able to shine some light and open some minds as to this complexity. Think and play smarter, and more economical, and you will be rewarded as I have. But if you treat it like a casino, expect the same results. There are days no matter how much you spend you simply can't buy a global or a hof, I am proof of that. But if I play cautiously, and I am not expecting the big hits, they do happen! I certainly did not expect my XXI cobalt that I hit for 1322 peds, my largest loot in game and first four digit hof.
Good luck!!!
So, since this is an important question everyone tends to ask at some point, I thought I would offer my own opinion as to the subject.
First, every indication is that the system does NOT pay out more Peds than it takes in. The system is obviously sustainable, and no company in their right mind would put that at risk. Many real life friends have obtained their payouts without problem other than waiting several weeks to several months for it to finally arrive. However, I do want to point out some people that haven't been paid have likely given Mindark a reason not to pay them such as violation of terms and conditions. There HAVE been exploits. There may still be some exploits. But the thing of it is... Exploits destroy the value that makes this game worth playing. It is a theft against each and every one of us that play.
Second, I believe the percentage paid out is based on the total spent into the system. Most of what everyone puts in, comes out somewhere along the line. The main edge they would have would be in keeping a portion of the repairs and decay, as well as auction fees, but who knows what percentage of each bomb or gunshot goes to MA directly. However, granted that even an absolute noob can tower on their first day unamped, which has happened, not often though, indicates that you do not have to pay in more than you loot.
But what I feel takes place is this: Every ped and pec spent is tracked. Every transaction you make. Loots are only figured in TT returns. But the higher markup items you use, the higher markup your loot tends to be, such as finding Rugaritz or Dunkel with the VRX2000 finder. But the thing is, the percentage kept by MA is easily compensated for by markup. Markup is extra value which derives from supply and demand. There is a limited amount of money fighting for a limited amount of resources and items. Markup is essentially what has come out of other people's pockets. But it ensures that everyone stands a good chance at either break even or profit.
IF you had to rely only on TT returns, you notice quickly that you almost NEVER run a surplus. You might have 1 in 10 mining runs that give you more in TT value than you spent. However, 7 of those 10 runs may bring you profit with markup.
I also want to stress that skills do affect returns as well. As a level 1 or level 5 prospector, I almost exclusively mined lysterium, oil, belkar, blausariam... As I ranked up, I gradually seen shifts from the low value ores to higher value ores such as narcanisum and niksarium, and later, kanerium became a regular find. Also, I have noticed as my skills go up, the frequencies, and average sizes of my hofs and globals have gone up.
I am not saying you can't hit good ores with low skills. I'm just saying you are going to hit fewer than if you had more skill. At level 28 prospector, I almost never hit Lysterium, and only occasionally hit Belkar and Blausariam.
So while they are paying out a percentage of what they take in, I wholly believe they use skills to control the distribution of that percentage. Certain finders are better at finding certain ores. But it takes certain skills to use certain finders. But also, another variable comes into play. It does matter where you are. You can mine all you want on those islands south of Port Atlantis and never hit anything but Lysterium and Oil. But... That's not to say you wont have ANY compensation for your troubles since you do still stand a chance of finding say, angel scales or hansidian, but TT value is low, and so your reward is simply dependent on what others are willing to pay for the stuff. But it works out, because chances are to use a 3K% markup ingredient to craft, the item it goes into is worth a great deal of markup as well, so the crafter can easily recoup his investment, and it is ultimately the final customer footing the bill for the materials that went into making the item.
There are a lot of complex principles at work here in Entropia... I hope I've been able to shine some light and open some minds as to this complexity. Think and play smarter, and more economical, and you will be rewarded as I have. But if you treat it like a casino, expect the same results. There are days no matter how much you spend you simply can't buy a global or a hof, I am proof of that. But if I play cautiously, and I am not expecting the big hits, they do happen! I certainly did not expect my XXI cobalt that I hit for 1322 peds, my largest loot in game and first four digit hof.
Good luck!!!
Friday, September 16, 2011
My Hunting Experiment: Why I am succeeding now, and wasn't before.
It has been a while since I have posted in my blog here. I regret the delay in bringing you new information. But I have been doing some research this whole time and thought it would be worthwhile to blog about. There really are no trade secrets here, since you can apply this to your favorite mob, and see how it works out for you.
Out of 300 ped budget...
OLD METHOD:
Buy 50 peds of ammo, 100 peds bombs, 50 peds on repair and maybe another 100 peds on L gun or amps for mining finder.
I'd get maybe a 25% return on my hunting loot and maybe a 50 to 80% return on my mining.
NEW METHOD:
Buy a few hundred peds of ammo. DO NOT SELL ANY LOOT until you have used up all your ammo. I found that there was less wasted and loss peds by holding onto my loot until the very end. You can still mine and craft if you want to. But keep your mining and crafting supplies and budget separate from your hunting.
What you will find is, your chances at globals are much higher... I had not globalled since 2 years ago while hunting. That was my first global which took me 2 years of hunting to get that! Well, my friend explained his method, and that's what I been doing ever since, and after one 200 ped hunt and six 100 ped hunts, I am only down maybe 10 or 20 peds from 300. 100 of that was used to buy an economic L gun and UL amp. The 200 ped hunt lost 100 peds. No surprise there. So I repaired and rearmed. 100 ped hunts then on out.
Well, by the fourth trip or so, I got my 72 ped global. A ton of mini globals, that being anything large but under 50 peds. By the end of that trip, I was back to my original 300 peds.
I had to upgrade some of my armor... NOTE TO NOOBS: DO NOT USE KOBOLD FOR ANYTHING EXCEPT FEFFOIDS. IT IS EXTREMELY BAD TO USE FOR ARGOS! You want Ghost or Shogun instead! 5B plates for most mobs and 6A's for Drones.
But now after every 100 ped hunt, I am having a few more peds than repair costs. So bigger runs mean a bigger chance to get something good.
Bottom line is, you can't just hunt with a few peds and expect to get good loot. You either do really really well on a short hunt, or VERY VERY BAD. It takes time and sheer number of kills for it to balance out.
So I don't recommend hunting with less than 300 peds for ammo after you bought all your weapons and other gear. And then don't recycle it as you go because then it is so much easier to waste it. Wait til you are all done and you will find that you can keep paying for run after run after run!
Out of 300 ped budget...
OLD METHOD:
Buy 50 peds of ammo, 100 peds bombs, 50 peds on repair and maybe another 100 peds on L gun or amps for mining finder.
I'd get maybe a 25% return on my hunting loot and maybe a 50 to 80% return on my mining.
NEW METHOD:
Buy a few hundred peds of ammo. DO NOT SELL ANY LOOT until you have used up all your ammo. I found that there was less wasted and loss peds by holding onto my loot until the very end. You can still mine and craft if you want to. But keep your mining and crafting supplies and budget separate from your hunting.
What you will find is, your chances at globals are much higher... I had not globalled since 2 years ago while hunting. That was my first global which took me 2 years of hunting to get that! Well, my friend explained his method, and that's what I been doing ever since, and after one 200 ped hunt and six 100 ped hunts, I am only down maybe 10 or 20 peds from 300. 100 of that was used to buy an economic L gun and UL amp. The 200 ped hunt lost 100 peds. No surprise there. So I repaired and rearmed. 100 ped hunts then on out.
Well, by the fourth trip or so, I got my 72 ped global. A ton of mini globals, that being anything large but under 50 peds. By the end of that trip, I was back to my original 300 peds.
I had to upgrade some of my armor... NOTE TO NOOBS: DO NOT USE KOBOLD FOR ANYTHING EXCEPT FEFFOIDS. IT IS EXTREMELY BAD TO USE FOR ARGOS! You want Ghost or Shogun instead! 5B plates for most mobs and 6A's for Drones.
But now after every 100 ped hunt, I am having a few more peds than repair costs. So bigger runs mean a bigger chance to get something good.
Bottom line is, you can't just hunt with a few peds and expect to get good loot. You either do really really well on a short hunt, or VERY VERY BAD. It takes time and sheer number of kills for it to balance out.
So I don't recommend hunting with less than 300 peds for ammo after you bought all your weapons and other gear. And then don't recycle it as you go because then it is so much easier to waste it. Wait til you are all done and you will find that you can keep paying for run after run after run!
Monday, May 30, 2011
Trading: THE Road To Profits
I am an experienced trader and I have learned so many things the hard way I do not wish to give my secrets away... But I will share enough to help you understand and learn to trade.
By itself, Entropia is a negative expectation game. This means that because of decay and the unknown distribution of loots, if no new money were added, the economy would dry up and everyone after enough time would be broke. Fortunately people like myself are happy to deposit a nominal amount each month, which I don't mind.. $50 in Entropia lasts much longer than $50 in a casino... Or in a gas tank lol.
So how do you turn it into a positive expectation game? That is what markup does. Instead of mindark crediting you for tt value of an item, other people will pay a premium for things based on supply and demand. This increases the amount of peds circulating because the more spent in markup, the more that is deposited. But when markup is considered it is possible to suffer very heavy tt losses but make a slight profit.
Items and resources are always going up and down in markup. The real genius to the game is that the TT value never changes. This limits mindark liabilities to the player in a worst case scenario, and solves the problem of calculating loots with a rubber ruler.
The old adage buy low and sell high is king here. Say an ore is 140% markup on the auction. If you find a miner who wants to sell without waiting for auctions to do the job not to mention the fees charged to the miner for the auction, you could reasonably offer 135%... Maybe as low as 130%... But remember, you give someone too short of a deal and you will be ruined as a trader! If you are losing just a few percent on each crafting run, the cheaper prices from buying directly can mean break even or profit!
If you want to trade full time it is important to identify your customers. Who will you buy from and sell to? What is an acceptable profit margin? For a little while I was seeing traders on the asteroid offering two points under market value... It is nuts to buy a 200% ore at 198%... There was no way to compete with that so I had to quit trading. After a while the noons must have slit their own throats as prices later returned to a viable level... Remember it is a 50 ped round trip to asteroid and the only way miners get good markup on ores up there is traders. If not for the trader either the miner ties up all their peds and returns to planet to sell or they TT their ores.
So you got to also factor in other costs such as auction fees... I always strive to buy for no higher a price than break even if I have to let go of my ores at auction prices including the auction fees. If traders can't make profit then they go out of business... Which if someone is willing to pay near market value for something that you can't do, let them. If it is a bad deal for you it will hurt them and they won't be competing for long.
So, with everything said, I wish to highlight some important advice for trading:
1. Do not be afraid to offer TT value on a near TT item...
2. Always buy anything you can for TT... This does not mean screw over your customer eiher though... Always offer a fair price. For ores at 110% to 140% fair is usually 5 points off. As markup goes up, you can knock more points off... Say a 5K% Dunkel Particle... Is best to offer 4K% or so.
3. If a trader is offering more for something than you are paying, and you feel you can't beat their price, then perhaps selling all you have of that item for a quick profit is a good idea.
4. Always check orders... Sometimes you can be profitably surprised :)
5. Do NOT go up to people and initiate trades at random... This will piss people off and a pissed off person won't do business with you.
6. Be kind and courteous at all times...
7. Be very careful of the society you join. Joining one of the notoriously bad ones will give you an instant and epic fail as a trader.
8. Conduct your trades as timely and accurately as possible.
9. Always check prices so you can offer a fair deal from day to day.
10. If prices drop it is best to hold your inventory until it goes back up.
11. Ores run in cycles... They have a normal high low range. Narcanisum ranges from 130% to 170% on average for instance. This means you can identify bargain prices and stock up.
12. Regardless of what prices are you buy with enough margin for profit but if it takes you a long time to flip your inventory be careful.
13. Ask your customers to compare your offer with competitors. Most times they won't bother :) but it gives them confidence in you.
14. Profits are better than luck.
15. Don't get greedy lest you destroy your reputation and clientele.
16. If you think trading is slow, figure out how fast you can sweat and then see how many days it would take to sweat what you just made on one trade :)
17. Always be helpful to noons. They may not have much to trade now but they will remembebyour kindness and reward you with loyalty.
18. Remember... All deals are final and any errors are up to the people Involved. Unless mindark themselves have been harmed by your actions, they will not intervene on any finalized trade.
19. Restrain your spending. Every ped you use is one less ped that can make you money.
I will revise this post in the near future and add more to it so stay tuned!
The biggest advantage to trading is there are no tools to decay or risk to find the loot. And if you have trouble making peds... Just remember to ask yourself what a Ferengi from Star Trek would do :)
By itself, Entropia is a negative expectation game. This means that because of decay and the unknown distribution of loots, if no new money were added, the economy would dry up and everyone after enough time would be broke. Fortunately people like myself are happy to deposit a nominal amount each month, which I don't mind.. $50 in Entropia lasts much longer than $50 in a casino... Or in a gas tank lol.
So how do you turn it into a positive expectation game? That is what markup does. Instead of mindark crediting you for tt value of an item, other people will pay a premium for things based on supply and demand. This increases the amount of peds circulating because the more spent in markup, the more that is deposited. But when markup is considered it is possible to suffer very heavy tt losses but make a slight profit.
Items and resources are always going up and down in markup. The real genius to the game is that the TT value never changes. This limits mindark liabilities to the player in a worst case scenario, and solves the problem of calculating loots with a rubber ruler.
The old adage buy low and sell high is king here. Say an ore is 140% markup on the auction. If you find a miner who wants to sell without waiting for auctions to do the job not to mention the fees charged to the miner for the auction, you could reasonably offer 135%... Maybe as low as 130%... But remember, you give someone too short of a deal and you will be ruined as a trader! If you are losing just a few percent on each crafting run, the cheaper prices from buying directly can mean break even or profit!
If you want to trade full time it is important to identify your customers. Who will you buy from and sell to? What is an acceptable profit margin? For a little while I was seeing traders on the asteroid offering two points under market value... It is nuts to buy a 200% ore at 198%... There was no way to compete with that so I had to quit trading. After a while the noons must have slit their own throats as prices later returned to a viable level... Remember it is a 50 ped round trip to asteroid and the only way miners get good markup on ores up there is traders. If not for the trader either the miner ties up all their peds and returns to planet to sell or they TT their ores.
So you got to also factor in other costs such as auction fees... I always strive to buy for no higher a price than break even if I have to let go of my ores at auction prices including the auction fees. If traders can't make profit then they go out of business... Which if someone is willing to pay near market value for something that you can't do, let them. If it is a bad deal for you it will hurt them and they won't be competing for long.
So, with everything said, I wish to highlight some important advice for trading:
1. Do not be afraid to offer TT value on a near TT item...
2. Always buy anything you can for TT... This does not mean screw over your customer eiher though... Always offer a fair price. For ores at 110% to 140% fair is usually 5 points off. As markup goes up, you can knock more points off... Say a 5K% Dunkel Particle... Is best to offer 4K% or so.
3. If a trader is offering more for something than you are paying, and you feel you can't beat their price, then perhaps selling all you have of that item for a quick profit is a good idea.
4. Always check orders... Sometimes you can be profitably surprised :)
5. Do NOT go up to people and initiate trades at random... This will piss people off and a pissed off person won't do business with you.
6. Be kind and courteous at all times...
7. Be very careful of the society you join. Joining one of the notoriously bad ones will give you an instant and epic fail as a trader.
8. Conduct your trades as timely and accurately as possible.
9. Always check prices so you can offer a fair deal from day to day.
10. If prices drop it is best to hold your inventory until it goes back up.
11. Ores run in cycles... They have a normal high low range. Narcanisum ranges from 130% to 170% on average for instance. This means you can identify bargain prices and stock up.
12. Regardless of what prices are you buy with enough margin for profit but if it takes you a long time to flip your inventory be careful.
13. Ask your customers to compare your offer with competitors. Most times they won't bother :) but it gives them confidence in you.
14. Profits are better than luck.
15. Don't get greedy lest you destroy your reputation and clientele.
16. If you think trading is slow, figure out how fast you can sweat and then see how many days it would take to sweat what you just made on one trade :)
17. Always be helpful to noons. They may not have much to trade now but they will remembebyour kindness and reward you with loyalty.
18. Remember... All deals are final and any errors are up to the people Involved. Unless mindark themselves have been harmed by your actions, they will not intervene on any finalized trade.
19. Restrain your spending. Every ped you use is one less ped that can make you money.
I will revise this post in the near future and add more to it so stay tuned!
The biggest advantage to trading is there are no tools to decay or risk to find the loot. And if you have trouble making peds... Just remember to ask yourself what a Ferengi from Star Trek would do :)
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