Since 2012 the socialist paradise... I mean... the socialist nightmare of Venezuela has now risen to new heights of insanity. The economy had all but collapsed as the government ran out of money to pay for goods and services. But like all governments who issue their own currency, Venezuela had thought it best to save itself by massively printing its own currency, the Bolivar. I mean why not? Someone has to pay for all the socialist programs right? Well that someone was the government itself.
In the past year, Bitcoin has taking the market by storm. Many investors and even non-investors are looking more and more into Bitcoin, however, I am not.
I've first heard of bitcoin back in 2012, I don't remember what the price was but I know it was below a thousand dollars. But when I first heard of the idea and purpose of Bitcoin I was skeptical. The proponents of Bitcoin said that it was going to be the alternative to the dollar and various other fiat currencies and one day Bitcoin will be the world's currency.
When a country’s government no longer backs its currency from a tangible asset such as gold or silver the inevitable always occurs, inflation. In themepark MMOs inflation is also inevitable, but why? In themepark MMOs all (or at least most) goods are eventually acquired. At some point later in the game’s life-cycle, players participate less in activities that cause money to exit the economy. For example, once a player reaches max level, they no longer need to spend money on skill training, mount training, mounts, craft training, and other activities that cause money to exit the game (i.e. vendor purchases).
A prediction has come true. In the past I wrote an article about rare crafting materials being available from raids or dungeon drops and how it will upset and unbalance the crafting community. Well Bioware Studios has decided to do just that. The crafting changes in SWTOR 4.0 were big, some materials were deleted, tradeskills were changed, old schematics were archived with some no longer available, and finally the materials needed to product end game gear were found exclusively in dungeon drops, a currency vendor, and from personal conquest.
In the past year, the US dollar has risen from historic lows to recent highs. There are only a few currencies in the world that are worth more than the US dollar (the Euro, British Pound and etc). Now for US consumers this means they can purchase foreign products for a relative cheap price. Though for the last few decades, the costs of video games in dollar terms have remain relatively the same. Most video games (not including collectors or deluxe editions) are sold from $29.99 to $59.99.