Counter-Strike market loses almost $2b in value overnight

[methoxetamine]

******* are killing themselves over this. Some elder god tier salt mining on Plebbit atm

Some **** showing his balance going from $58.8k to $18k in 2 days
https://i.imgur.com/AIOZPMz.mp4




Pinned on the cs market subreddit

"CS2 is an hero shooter now"

[rusty_shackleford]

So it turns out the reason Valve disallows crypto games is they already run their own crypto market

[Val the Moofia Boss]

You can cash out of the Steam skins marketplace?

[methoxetamine]

You can cash out of the Steam skins marketplace?

By selling to other users, yeah. I'm not familiar with how the third-party skin market sites work (CS Float is the popular one?) but maybe they'll buy them off of you too? That's where people buy and sell the really expensive stuff anyway

[Oyster Sauce]

Who's up for retakes?

[Stack of Turtles]

I love when ******* call their imaginary pictures in a video game an "investment"

[Breathe]

So what exactly happened to cause the loss of value?

[Acrux]

So what exactly happened to cause the loss of value?

Valve simply reminded people that they have literally invested their money in character skins for a really old computer game.

[Oyster Sauce]

So what exactly happened to cause the loss of value?

You can trade 5 very rare guns in for an extremely rare knife or pair of gloves now.

[Pizza]

I laughed so hard! LoL at these idiots for wasting thousands of dollars for a few colored pixels that they don't even "own" according to VALVe's ToS.

[methoxetamine]

I laughed so hard! LoL at these idiots for wasting thousands of dollars for a few colored pixels that they don't even "own" according to VALVe's ToS.

Same, this has been some exquisite comedy today

[Acrux]

I laughed so hard! LoL at these idiots for wasting thousands of dollars for a few colored pixels that they don't even "own" according to VALVe's ToS.

The original NFT

[Tweed]

[Demonic Fate]

I wonder if other fantasy videogame markets will see a general fall in prices, as the realization lands that the gaming company can delete their "wealth" with a click of a button.

Older gen-x games used to have some anchors against this:

- EvE online allowed in-game money to be spent on subscription fees, which gave it a fixed exchange rate to (almost) real money

- MtG famously made a public commitment in like 1996 or something that they'd never reprint, or print functional equivalents of, their rarest cards. It isn't actually legally binding, but they repeatedly stuck to it even when breaking it would have made them a shitload of money and immensely helped the game's health at various points. The gap in value between Reserved List cards and non-RL cards (which can be made near-worthless at any time) is huge.

Importantly, this sort of practical stuff is something that older generations of gamers thought and cared about. Well, at least the ones playing ultra-cerebral games like MtG and EvE (the 90s did have Beanie Babies and the 00s had TF2 hats).

GenZ got raised by human scum streamers who literally made money by gambling and scamming in public, they're absolutely cooked and it's impossible to make them truly realize that you do not own anything unless you can both control and defend it.

[TKVNC]

I wonder if other fantasy videogame markets will see a general fall in prices, as the realization lands that the gaming company can delete their "wealth" with a click of a button.

Older gen-x games used to have some anchors against this:

- EvE online allowed in-game money to be spent on subscription fees, which gave it a fixed exchange rate to (almost) real money

- MtG famously made a public commitment in like 1996 or something that they'd never reprint, or print functional equivalents of, their rarest cards. It isn't actually legally binding, but they repeatedly stuck to it even when breaking it would have made them a shitload of money and immensely helped the game's health at various points. The gap in value between Reserved List cards and non-RL cards (which can be made near-worthless at any time) is huge.

Importantly, this sort of practical stuff is something that older generations of gamers thought and cared about. Well, at least the ones playing ultra-cerebral games like MtG and EvE (the 90s did have Beanie Babies and the 00s had TF2 hats).

GenZ got raised by human scum streamers who literally made money by gambling and scamming in public, they're absolutely cooked and it's impossible to make them truly realize that you do not own anything unless you can both control and defend it.

Speculation masquerading as investment has absolutely destroyed gaming, hobbies, and other areas too.

For example, Pokemon, it was a japslop card game for little children, but due to overweight millenial speculation it's not even possible to play anymore, least of all for children.

MTG is in a similar state. Outside of proxy cards, some are simply impossible to obtain, or so expensive as to be effectively non-existant to 99% of players.

[Demonic Fate]

I wonder if other fantasy videogame markets will see a general fall in prices, as the realization lands that the gaming company can delete their "wealth" with a click of a button.

Older gen-x games used to have some anchors against this:

- EvE online allowed in-game money to be spent on subscription fees, which gave it a fixed exchange rate to (almost) real money

- MtG famously made a public commitment in like 1996 or something that they'd never reprint, or print functional equivalents of, their rarest cards. It isn't actually legally binding, but they repeatedly stuck to it even when breaking it would have made them a shitload of money and immensely helped the game's health at various points. The gap in value between Reserved List cards and non-RL cards (which can be made near-worthless at any time) is huge.

Importantly, this sort of practical stuff is something that older generations of gamers thought and cared about. Well, at least the ones playing ultra-cerebral games like MtG and EvE (the 90s did have Beanie Babies and the 00s had TF2 hats).

GenZ got raised by human scum streamers who literally made money by gambling and scamming in public, they're absolutely cooked and it's impossible to make them truly realize that you do not own anything unless you can both control and defend it.

Speculation masquerading as investment has absolutely destroyed gaming, hobbies, and other areas too.

For example, Pokemon, it was a japslop card game for little children, but due to overweight millenial speculation it's not even possible to play anymore, least of all for children.

MTG is in a similar state. Outside of proxy cards, some are simply impossible to obtain, or so expensive as to be effectively non-existant to 99% of players.

I agree with the post except that "gaming, hobbies, and other areas" is way too broad. A few games have been ruined by artificial scarcity and speculation.

Most areas are entirely unscathed - board games, tabletop and non-massive RPGs, simulations, arcades. Others have found a way to survive: most shooters keep the gambling ******** entirely cosmetic, and Counterstrike was the top competitive FPS before the cosmetic skin market was invented and will remain such after the market dies.

Even in the CCG sector, the patient zero for the infection, many digital games eschew trading to avoid that problem. MtG itself has two digital versions, one with a market and one without.

[Rienen]

I used to go through the rigmarole of selling whatever trading cards, booster packs, and various game items showed up in my Steam inventory right before sales as a way to buy cheaper games. Eventually, I just stopped caring and haven't bothered with it for a few years now.

Then again, I'm old and have never really cared about digital cosmetics, NFTs, or what-have-you.

[DemoGraph]

So what exactly happened to cause the loss of value?

Valve patched in ability to craft some of those items.

[TKVNC]

I wonder if other fantasy videogame markets will see a general fall in prices, as the realization lands that the gaming company can delete their "wealth" with a click of a button.

Older gen-x games used to have some anchors against this:

- EvE online allowed in-game money to be spent on subscription fees, which gave it a fixed exchange rate to (almost) real money

- MtG famously made a public commitment in like 1996 or something that they'd never reprint, or print functional equivalents of, their rarest cards. It isn't actually legally binding, but they repeatedly stuck to it even when breaking it would have made them a shitload of money and immensely helped the game's health at various points. The gap in value between Reserved List cards and non-RL cards (which can be made near-worthless at any time) is huge.

Importantly, this sort of practical stuff is something that older generations of gamers thought and cared about. Well, at least the ones playing ultra-cerebral games like MtG and EvE (the 90s did have Beanie Babies and the 00s had TF2 hats).

GenZ got raised by human scum streamers who literally made money by gambling and scamming in public, they're absolutely cooked and it's impossible to make them truly realize that you do not own anything unless you can both control and defend it.

Speculation masquerading as investment has absolutely destroyed gaming, hobbies, and other areas too.

For example, Pokemon, it was a japslop card game for little children, but due to overweight millenial speculation it's not even possible to play anymore, least of all for children.

MTG is in a similar state. Outside of proxy cards, some are simply impossible to obtain, or so expensive as to be effectively non-existant to 99% of players.

I agree with the post except that "gaming, hobbies, and other areas" is way too broad. A few games have been ruined by artificial scarcity and speculation.

Most areas are entirely unscathed - board games, tabletop and non-massive RPGs, simulations, arcades. Others have found a way to survive: most shooters keep the gambling ******** entirely cosmetic, and Counterstrike was the top competitive FPS before the cosmetic skin market was invented and will remain such after the market dies.

Even in the CCG sector, the patient zero for the infection, many digital games eschew trading to avoid that problem. MtG itself has two digital versions, one with a market and one without.

I suppose that's fair