Little reminder: Euro vs. USD/PEDs

[endermigne]

Hi,

just a little reminder about depositing and withdrawing. If you're an US-American this thread won't have a meaning to you. Also, I took Euro as an example as the majority of players seem to live in the Euro-area but I'd say it's as informative for everybody else not having USD as their currency.

What's important to know is that PEDs are tightly bound to USD (10 PEDs = 1 USD).

Currently the news is about a high exchange rate from Euro to USD. This means that you get a quite high amount of USD (around 1.38 as of today) for one Euro. So far so good.

Now if you think as an Entropian (ok, that might not be different to some of you ) you have to thing about depositing and withdrawing. If you understood the two paragraphs above and combine them the important bottom line is clear to you already. But I'd like to strictly point out two rules here:

• If the exchange rate from your currency to USD is climbing this means that it's a good idea to think about depositing. Why? Because you get more USD (and therefore PEDs) for whatever amount you'd like to deposit.
  
  
• If the exchange rate from your currency to USD is dropping this means that it's a good idea to think about withdrawing. Why? Because you get more <your currency here> for your PEDs.

Example (ok, those numbers aren't strictly right as some taxes and fees by various companies such as MindArk have to be considered):

To continue with Euro vs. USD think about depositing 50 Euros. With today's exchange rate of 1.38 that would be 69 (hehe, nice number ) USD or 690 PEDs respectively.

If you'd have done the same like 5 months ago with an exchange rate of about 1.30 you'd have gotten only 65 USD or 650 PEDs respectively.

For withdrawing it's the other way around of course.

Now those numbers don't sound high but they add up on the long run.

So currently thumbs up for depositing not just because all of us are waiting for the ATH

I hope this was interesting for a few of you.

[Shackleton]

I think it all depends whether you think the exchange rate is actually going to swing backwards in the coming months. I know that i'm happy to have made a withdrawal when the exchange rate was under $2 to the £. I think that the exchange rate has a while to go before it starts to fall back to even what it was at this time last year, and in Britain with interest rates likely to rise again in the near future, I would think that the exchange rate is going to widen even further... Just a thought

[endermigne]

Originally Posted by Shackleton

I think it all depends whether you think the exchange rate is actually going to swing backwards in the coming months. I know that i'm happy to have made a withdrawal when the exchange rate was under $2 to the £. I think that the exchange rate has a while to go before it starts to fall back to even what it was at this time last year, and in Britain with interest rates likely to rise again in the near future, I would think that the exchange rate is going to widen even further... Just a thought

Well, I didn't intend to write something people can use to make money like you can do with shares or banks. It should be something people may want to consider when they are "thinking about" action.

Anyways, I know this topic is obvious to many and some may have thought "duh!". But I have been talking to people and some didn't understand why it's a good idea to sell something with a high markup (e.g. Mind Essence with 200+%) on the street or on auction rather than just TT it. Which in fact is a "duh!"-thought to me .

So logics are different for everybody and after reading this people can't come here and complain about that they didn't know about this issue.

*bump*

[endermigne]

Somebody +repped me because of the 69-thing. I didn't intend to have that kind of calculation. What can I say. It just happened

Thanks nonetheless

[mike malan]

Yea, as an american this dosen't pertain to me. but what a good thing for all the peeps across the pond. We just get straight 1$=10ped but you guys sometimes get some more, and the way our $ is going prob more in the future

[endermigne]

I just got another +rep. So I guess not everyone (or at least the ones who could be interested) has read this causing me to bump it.

[PsychoAl]

Here is a useful tool to keep track of this.

http://www.x-rates.com/calculator.html

On this page there is a link to graph the 2 currencies which u select over a period in a line graph.

[endermigne]

Originally Posted by PsychoAl

Here is a useful tool to keep track of this.

http://www.x-rates.com/calculator.html

On this page there is a link to graph the 2 currencies which u select over a period in a line graph.

<noob voice>
I didn't find PEDs
</noob voice>

SCNR

+rep

[endermigne]

In case anyone hasn't figured out this one yet.

*bump*

[Naverith]

Simple. Anyone using USD is gettin hosed right now. It really doesn't matter (for us USA'ers) 'cause our dollar is tanking and will not be coming back for many years, if at all. The U.S. economy is slowly going down the crapper.

If PEDS were based on Euro's, I'd only get about 60 PED per dollar, and that wouldn't be good PR for MA.