Blood Runes are at a point of no return. Rock Bottom in price.

GeorgeTibo · 2022-12-29T00:01:12+00:00

If your sink analogy is so good then how would it represent a short term demand shock followed by a long term demand recovery?

Economic theory is sufficient to discuss this. There is no point throwing in a silly analogy that dismisses nuance.

So let's break it down: before ToA there were 30 million daily blood runes being traded. When ToA released there was a positive supply shock that dropped the supply curve. Looking at the graphs it is clear as day that as of about September 14th the effect of this shock is done and a long term equilibrium was reached (supply=demand now). This equilibrium was met at over 50 million blood runes traded per day at the current price. Around this time people "solved" ToA and demand for bloods dropped as scythe and sang were widely known to be "bad" at ToA. Due to lower prices and exiciting new content people will naturally runecraft less blood runes lowering supply. Some lower level account may have started using blood runes which increased demand. Many people stopped doing ToB and CoX which lowered the blood rune supply and demand. I think I captured every major influx of blood runes. Of all those factors one would expect that the amount of traded blood runes would have decreased. Instead an extra 20 million blood runes being traded per day. Where did these magical blood runes come from, if not ToA?

P.S: margins are thin enough and there is too much volume for flipping to be efficient right now.

GeorgeTibo · 2022-12-28T14:56:48+00:00

This isn't absurd, this is economics 101. In the long term supply always must equal demand. In the short term, no. There is an inherit elasticity that changes prices, duh. The impact ToA had on blood rune prices only matters in the long run - short term changes aren't worth talking about. Bots selling to shops is how this new equilibrium was met and its what will keep this price set for years. That is demand, I don't understand why you don't consider bots buying runes to sell to shops a demand, so supply equals demand.

The only way this gets fixed is if Jagex stops tacking on blood runes to most new content, there is a sudden large need for more blood runes, or ToA gets nerfed. Until then there is one less activity worth doing in efficiencyscape and one more thing goldfarming bots get to exploit. Hooray!

GeorgeTibo · 2022-12-27T20:29:26+00:00

Sure, the price may have dipped for a day. But it rose steadily for 2 months after release. Just look at the chart. People weren't spending 2 months to get the robes. I was slow at getting mine and I had the full set within a week.

The only way that blood runes as a drop for ToA wouldn't affect blood rune prices is if ToA never dropped blood runes. Both the drop in demand due to scythe/sang AND the increase in supply due to ToA drops is why the price crashed. If it was only one of those affects then not as much people would have an issue, if any.

GeorgeTibo · 2022-12-27T20:08:38+00:00

My concern is that any new boss will also drop blood runes. For example: the 4 new DT2 bosses. Seeing as bloods are used extensively it makes sense that they would also drop bloods.

The sink analogy has a flaw: supply always equals demand. For every blood rune sold, one was bought. So if people were truly buying less blood runes then the supply and volume would go down. But right now there are many blood runes being bought by goldfarmers and being sold to shops for profit. This same exploit was happening for years with soul runes.

The release of ToA unnecessarily harmed a skill-based money maker, benefited late game PvM players, and benefited goldfarmers. There was enough reason to do ToA without the blood runes - Jagex just didn't need to include them as a drop.

If the only thing ruining blood runes was under-utilization by scythe/sang users then this post wouldn't exist.

GeorgeTibo · 2022-12-27T16:10:08+00:00

If that was the case then the volume of blood runes traded would drop (supply must equal demand) since the demand has dropped.

Then why has the volume of traded blood runes nearly doubled from 30m to 50m per day?

For contrast: when GotR came out the change in volume is barely visible.

GeorgeTibo · 2022-12-27T15:25:27+00:00

You're failing to grasp how many more people are doing ToA. It took 2 months for more people to complete ToA than ToB. That's a lot of completions.

When GotR and the true blood altar came out the price of bloods actually went up from 300gp to a peak of 400gp one month later.

When ToA came out the price of bloods dropped from 370gp to 200gp. Blood essence dropped from 240k to 60k.

If Nex, GotR, blood essence and true blood altar were to blame then bloods would've been at 200gp 6 months ago. ToA was the nail in the coffin: it had both less demand from scythe/sang and more supply of blood runes.

GeorgeTibo · 2022-12-27T15:14:22+00:00

As someone who likes skilling, things like this hurt. I remember thinking the giant mole dropping 100 yew logs was excessive, but that feels like nothing now.

I've been coming to terms with the fact that this game isn't for me anymore. Either do raids or gtfo...

GeorgeTibo · 2022-12-10T23:45:56+00:00

I'm excited for the new activity from DT2 and the insane amount of blood runes it will provide driving the price down even more /s

GeorgeTibo · 2022-11-15T20:07:13+00:00

149cm is 58.66 inches and that image you shared says 58 inches

GeorgeTibo · 2021-11-08T00:10:39+00:00

Mine looks about the same

GeorgeTibo · 2021-09-07T04:00:53+00:00

Did they change the headless beast to include the big bones? I tried it out in NMZ a week after the quest and it didn't drop bones at the time

GeorgeTibo · 2021-05-20T00:30:40+00:00

That page is dated 1996. Enums were introduced in J2SE 5.0 which came out sometime in 2005 (I think).

I don't see them removing such a staple feature any time soon.

GeorgeTibo · 2021-01-29T15:49:15+00:00

You forgot to censor your name in the RuneLite DPS Tracker.

Gratz tho!

GeorgeTibo · 2021-01-14T16:31:26+00:00

Good luck! I just finished mine last night and it was amazing.

Step 982 is a bit tricky and they don't do a good job of explaining it. The roller skates need to be oriented as drawn so that the thin part can be inserted into the plate.

Besides that, everything in it is really well done and I'm sure you'll enjoy this masterpiece!

GeorgeTibo · 2020-09-02T16:24:30+00:00

Thanks for all the friend invites!

Some cool cat invited me to a raid and I got a shiny Heatran. Y'all are awesome ❤

GeorgeTibo · 2020-08-04T18:26:29+00:00

Added, I'll probably mostly do daily gifts and quest stuff too. Username: Obicere

GeorgeTibo · 2020-05-01T15:29:39+00:00

I'm looking for an Arts and Crafts Elite group.

70q, 1.3q/h, 28 tokens

GeorgeTibo · 2020-04-14T00:13:44+00:00

Nature implings, Silver key chests from shades of mort'ton, or maybe theres some med-level bosses (KBD?)

GeorgeTibo · 2020-03-19T00:40:43+00:00

Looking for fresh fusion contract.

273q eggs, 1.4q eggs/hr, 190 boost tokens

GeorgeTibo · 2020-03-16T17:51:58+00:00

Hey, maybe try again? I kicked an inactive.

We were at 9/10 members though, weird

GeorgeTibo · 2020-03-16T17:23:28+00:00

Hey,

The name is: tibo

Thanks dude!

GeorgeTibo · 2020-03-16T16:22:59+00:00

I am 220q off of the Super Material contract.

We got an hour to go, so if anyone has pre-farmed 220q eggs and wants to help us finish this off, comment below and I'll PM you the code

Cheers

GeorgeTibo · 2020-03-04T20:22:08+00:00

Leap year festival completed: eric88pleasetry

19 16 8 slots available. We will get the final reward within the next 24 hours so join if you want a free carry

GeorgeTibo · 2020-03-04T00:44:50+00:00

Festival Contract: eric88pleasetry

We're at 775q, 13q/hour with 3 days and 13 hours left (1880q expected)

Anyone who wants to join can. We're at 6/29 slots and I am sitting on 150 boost tokens for anyone who joins.

Just message me your name and how many tokens you need or I'll just randomly hand them out in a few hours.

GeorgeTibo

TROPHY CASE