Counter-Strike market explodes. Prices skyrocket overnight.
(media.scored.co)
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Red skins have shot up, knife skins have plummeted. Supposedly the CS skin market overall is down like 20%.
But the craziest part is that it was worth anything in the first place.
Any economics major worth their salt should be studying this crap.
They were all fired after Bretton Woods was implemented.
Is there really anything deep and insightful to glean from this situation beyond "lmao gamers"? It's just another trainwreck that befell upon financially irresponsible dipshits with disposable income.
Considering how much if a parallel economy was built in the third world shitholes that revolves entirely around this game (and a bunch of others like Runescape) its probably a very interesting study in how capitalism itself can naturally evolve completely independent of government forces.
Like there is plenty "lmao retards gambling on pixels" on the surface, but how it reached the state it is in has all sorts of interesting aspects. Because unlike NFTs and Crypto, these types of markets were mostly organically formed.
Fair.
Pretty much. It's degenerates gambling on an investment that is driven purely by the greater fool theory: buy an overpriced item now so you can sell it at an even higher price to someone else, who is looking to sell it for even more to a third fool.... Good investments are by some means a productive asset - they have a source of incoming money other than the investors themselves.
The price of knife and glove skins ("mythic rares") is now tied to the price of Covert skins ("rares") because of an update that allows you to trade in Covert skins for knife and glove skins, where previously I would presume Covert skin prices were depressed by degenerates gambling for the knife and glove skins and selling the Covert skins as bycatch.
Thanks for the details!
I can only laugh.
I struggle enough with the investment viability of crypto at times. CS go skin market? That's just a tax on the stupid.
There was a point where WoW money was more steady than actual countries. So it became a good investment. Tons of Chinese farmers appeared for just that.
These video game markets are more stable than half the economies in Africa, South America and the SEA region. That's why they were able to operate so steadily for years, because for a lot of young men it became semi lucrative careers in otherwise complete poverty nations.
The only retarded part about it is forgetting that risk factor of making your money on someone else's plantation, meaning these types of explosions are always a possibility.
There's a term for that: counterparty risk. Money shouldn't be subject to counterparty risk (you either have it or you don't), but fiat being what it is, you always have to worry about the government gassing up the money printer to benefit itself.
It’s literally more tangible and functional than 99% of cryptos so I don’t know how you get off on calling them stupid when you’re doing something even dumber.
Somehow you misread the words “struggle with viability”
I played around a bit with TF2 back in the day (never with real money), and just by trading back and forth you can make a bit of a profit. But, yeah, the whole thing gets pretty crazy, and the serious players gain and lose a silly amount of money. Not my thing.
sounds like crypto.
but what happens if valve bans your account after you spent thousands on skins?
There used to be a subreddit dedicated to screenshots of hackers banned profiles with very expensive inventories
Too bad, soo sad.... Should not have been a non-woke cis gendered ray cyst bigot
In the last 24 hours, the prices of some Counter-Strike weapon skins have jumped to insane levels.
The friend who tipped me off told me he flipped $3 CSGO skins for $50.
These things can apparently be traded for knives; whatever that means.
I don't play the Counter-Strike games, so I don't know what any of that means.
Edit: There's a post over in Gaming that gives more details.
https://communities.win/c/Gaming/p/1ARJmNCySh/out-of-nowhere-completely-unanno/c
It means you can get a different skin for your knife weapon in CS2. Which means you can look at different pixels while running around with your knife and pressing F to get an inspect animation.
It means people are retarded and pay a lot of money for worthless pixels instead of just using skin mods. Because they want everyone to know how retarded they are instead of just having a nice weapons skin to look at that only they can see.
Any time I don’t understand a large financial transaction, I just assume it’s money laundering or bribery.
Pretty cheap compared to posing in a sports car
You're only saying that because you don't know how much money some actually spend on those pixels. Five figures isn't uncommon.
You could buy your own Gucci rifle, paint it whatever tryhard colors you want, and still have money left over for ammo.
I've never messed around with skins, but as I understand it knife skins are rarer and sought after, so more valuable/expensive.
So if there was a change where some items can be traded for (I assume random) knife skins...you can double down on the gambling, buy one skin for $150 and maybe trade it for a knife worth, making this number up for this scenario, $700...but probably you get a shit knife worth $20 or something. Again, just making up the numbers for an example.
But, yeah, sounds like you can double down on gambling. Wild.
Just checked, unfortunately I only have two crap guns and two crates, having never messed with it. Looks like I lost out on a couple potential bucks when they changed whatever they changed. Whatever, never touched those or spent money anyway, but I lost like $10-$15 market value, looks like. I'm JUMPIN'!
Value is subjective.