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SUGGESTED POWER - SELLBACK


lcky

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Hi all .

i would like to suggest a new power (SELLBACK) , which can allow user to sell one of his owned power back to xat at store price .

 HOW IT WORKS

1.  User have to buy  new power (SELLBACK) from the store which can cost around 150 xats .

2. After buying the power , It RANDOMLY select one of the power which the buyer owns  and offer him the store price to sell back to xat .

3. It can be any Limited or Unlimited or luckily an EPIC power . (so could be NOAUDIES , ANGEL or GOLD )

4. To use the Benifit of this power , user Need to have Atleast (ALLPOWERS) 170p , so that it give options to power to select a power from many powers to sell it back . otherwise users will try to be smart and have 1 - 2 powers and try to take benifit of that power. Like buying the power which is down on xat and sell it at store price from that power ( Eg ; they buy gold for 35k and try sell it back for 50k)

5. Just like BLACKFRIDAY power , a link will appear and will show you a power to sell back to xat .

I personally feel that this thing can help a alot to resolve the issue of downfall of prices of powers.

 

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18 hours ago, iMoHd said:

i agree totally alot off powers are down with this power  poeple will  back to trade again !

that is exactly what i want and what all traders need.

this will reduce quantity of powers available  and will increase prices .

 

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Not viable idea, this would be a means of undoing the purchase, this goes against terms of service. Read if you have any further questions.

 

Paid for Premium Services: when premium services are purchased from xat.com by the user, the amount of xats (credits) used for that purchase will be deducted from the users account immediately. The user will not have a right to cancel the order after the order has been placed.

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On 9/23/2017 at 2:16 PM, Duarte said:

Not viable idea, this would be a means of undoing the purchase, this goes against terms of service. Read if you have any further questions.

 

Paid for Premium Services: when premium services are purchased from xat.com by the user, the amount of xats (credits) used for that purchase will be deducted from the users account immediately. The user will not have a right to cancel the order after the order has been placed.

Unfortunately, this statement is incorrect.

 

That clause of the TOS is referring to the Return of a service that is purchased. (Eg. if you made a mistake purchasing an incorrect power, the power you wanted is not what you thought, you found the power cheaper at trade, etc. etc.) in

short it means xat will not refund ur purchases of services.

 

THIS DOES NOT MEAN XAT CAN NOT MAKE THIS FEATURE :

 

What lcky is referring to is a feature that is imposed by xat. Which at random gives you the ability to sell a single power back to store at store price. (Remember there would be a rarity factor, and there are lots of powers that you would not get more than 150 xats profit out of what your spending on this power).  

@Duarte

From reading your response, it does not directly correlate with a feature of xat. That clause just states a user could not request xats back that have been spent on services purchased. It does not state anything about the disallowance of a feature that allows you to sell back a power to the store (keep in mind this comes at a cost of 150 xats to do so, and does not guarantee a profit).

 

With that being said, it is not my favorite idea, but it is most definitely a viable one.

 

Thanks for the suggestion @lcky

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I went ahead and did the maths and allpowers in store prices cost a total of 37,817 xats, containing a total of 170 powers currently. That means, on average, a power from allpowers will cost 222.45 xats (store price). I used fexbot store prices, so there is a possibility that some store prices aren't recorded accurately, since they take store prices from last release (and not the original release).

 

If you use the premise that it would only refund powers listed in allpowers, then it would be fine, but for this idea to be viable for xat, it would ideally have to cost more than 222.45 xats. Naturally it wouldn't be as profitable as a weekly power, because you are receiving xats back (say everyone who bought the power, would also use its ability and refund another,  the earnings would breakeven, if xat charges on average 222 xats, in a perfect world of course).

 

But under the suggested premise, where you could refund any power in your powerlist as long as you have allpowers too, it wouldn't work. Imagine a scenario where you have 170p (allpowers), and then like 20 gold, it means you have a 10.5% chance of refunding gold, which just wont work. Not the mention, this power is very exclusive to the small minority of xat (if you have allpowers only). I generally think the concept is good, but execution is bad. To improve trading economies, we need to start by removing all the mass junk powers we already have and start with quality over quantity, but this isn't how we do it.

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29 minutes ago, Njthug said:

But under the suggested premise, where you could refund any power in your powerlist as long as you have allpowers too, it wouldn't work. Imagine a scenario where you have 170p (allpowers), and then like 20 gold, it means you have a 10.5% chance of refunding gold, which just wont work. Not the mention, this power is very exclusive to the small minority of xat (if you have allpowers only). I generally think the concept is good, but execution is bad. To improve trading economies, we need to start by removing all the mass junk powers we already have and start with quality over quantity, but this isn't how we do it.

Well, this is a RANDOM selection of what power it will allow you to sell based on the powers you have. It does not mean that it will chose what you could sell based off the power, it could produce it's own values of chance.

On 9/22/2017 at 4:01 AM, lcky said:

2. After buying the power , It RANDOMLY select one of the power which the buyer owns  and offer him the store price to sell back to xat .

 

This is where the rarity factor would come in. Each power would have a certain percentage of rarity, it would not be based off of the powers you have. For example, it would be much harder for the power to chose gold opposed to hat. It does not necessarily have to correlate with the powers you currently have.

 

This is how I see the idea formulating, as I'm not the OP, I do not know exactly what he is intending. But this is how I perceive the power to be.

@Njthug

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37 minutes ago, Dann said:

Well, this is a RANDOM selection of what power it will allow you to sell based on the powers you have. It does not mean that it will chose what you could sell based off the power, it could produce it's own values of chance.

I'm not entirely sure what you mean by this, if you could further elaborate, that would be great. When I brought up the percentage of 10.5%, that's based off having 190 total powers (20 of them being gold, and the rest allpowers, 20/190), you would greatly profit from this, only if the selection was random.

 

I think having rarity rates for each individual power would be interesting, but that's not what op suggested. It would also cause a great deal of complexity, trying to figure out a fair percentage for each power, especially the ones for epics. It would require a substantial amount of thorough checking to make sure no possible exploits could be abused and you would need a strong understanding of how it would affect xat trading economies (and not willy-dilly release an epic pawn for 100,000 xats, that sure helped xat trading economy, hell yeah /s). It needs to be somewhat beneficial to users and xat also, there needs to be an incentive for users to buy 'sellback', if the rarity rates are too low, there would be no point to even buying, for example.

 

Maybe for once-in-a-lifetime occasion for blackfriday, where the power is released for only a limited amount of time and would benefit users moreso than it does to xat (and maybe restore what trading was like a few years back). But the idea honestly seems too difficult to pull off, and has too many opportunities for exploitation if not thoroughly thought through. But yeah, the idea definitely isn't unviable.

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1 hour ago, Njthug said:

I'm not entirely sure what you mean by this, if you could further elaborate, that would be great. When I brought up the percentage of 10.5%, that's based off having 190 total powers (20 of them being gold, and the rest allpowers, 20/190), you would greatly profit from this, only if the selection was random.

 

I think having rarity rates for each individual power would be interesting, but that's not what op suggested. It would also cause a great deal of complexity, trying to figure out a fair percentage for each power, especially the ones for epics. It would require a substantial amount of thorough checking to make sure no possible exploits could be abused and you would need a strong understanding of how it would affect xat trading economies (and not willy-dilly release an epic pawn for 100,000 xats, that sure helped xat trading economy, hell yeah /s). It needs to be somewhat beneficial to users and xat also, there needs to be an incentive for users to buy 'sellback', if the rarity rates are too low, there would be no point to even buying, for example.

 

Maybe for once-in-a-lifetime occasion for blackfriday, where the power is released for only a limited amount of time and would benefit users moreso than it does to xat (and maybe restore what trading was like a few years back). But the idea honestly seems too difficult to pull off, and has too many opportunities for exploitation if not thoroughly thought through. But yeah, the idea definitely isn't unviable.

Right, as my first post stated, this is not my favorite idea. Initially My conclusion to that came based off of some of the same points as your second paragraph, there would be too many factors to determine the affect on the economy.

 

1 hour ago, Njthug said:
2 hours ago, Dann said:

Well, this is a RANDOM selection of what power it will allow you to sell based on the powers you have. It does not mean that it will chose what you could sell based off the power, it could produce it's own values of chance.

 

By this I just meant the process in by which the system would select what power you can sell.It would be based off the rarity percentage of each power that was given by xat, Opposed to selecting it based on a random selection of the powers you have. Essentially it would not matter if you have 1 or 100 golds, the chances of the system selecting that would be elected by xat's percentage of rarity.

 

@Njthug

But I agree, the power development would be too complex compared to what the power would ultimately achieve.

 

Just my opinion.

 

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@Dann  exactly got what i am trying to explain .

This power would work just with every diffrent power. 

even if you have 100 gold , it just count as 1 , and possibility of Epics been chosen would be very few .

Iparticularly see that there are so many small limited and unlimited powers which are just going down and down every day on xat .

So maybe this power can help reducing the number of quantity of those powers which can help them in Raising UP .

I appriciate that @Dann like my suggestion and supporting me .

I know making this power could be little harder than all other powers , but i still believe admins and smiley makers can do it .

This power could Bring huge change in economy of xat .

maybe they can release this power as available in 1 month and in next month it goes Unavailable at store . and same further ..

ALl the other can help to bring more suggestion to make this pwoer Work more well . I hope @Admin consider thinking about this power .

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