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Post by Admin on May 13, 2018 18:30:08 GMT
Hello all, long time no see! I know I have been away for awhile, so I haven't been keeping this forum up to date and I apologize for that. The good thing about the store credit XNK is it will go toward any listing fees occured for sellers, for example if I have 200 XNK in my store balance and I sell an item for 300 XNK, Listia takes 30 XNK in GIN fees, but they will take it from the store credit, meaning store credit balance would be 170 XNK and your main balance gets 300 XNK from the sell that you can move out of Listia. Theoretically your store credit will gain value if XNK itself gains value, however it does depend on what the sellers on Listia are still going by, I usually lower my prices for physical items when the price of XNK goes up, but I have mainly only been listing Pokemon cards. As for the whole credit thing, they are completely trying to phase out credits, and based on how they keep lowering the value of credits you get from XNK they are trying to end it soon it seems. I purchased an item for 150 XNK when I had a some credits in my account and it deducted 577,500 credits from my account, which is further proof of that, and goes with what you were saying bid1. I have just accepted the changes on Listia and I adapt as needed, which isn't really different than when the credit inflation was a constant, we just adapt and change as the market does  Anyway if anyone has any specific questions to send my way, I am happy to discuss and I will try my best to log into the forum here at least once a day. Hope everyone is doing well |
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Post by chalsie on May 13, 2018 20:36:02 GMT
I think there's a bit of confusion here. If the value of xnk goes up the price of items on listia goes down. So you will get more for your xnk even on listia. For example if 1 xnk started to trade on idex for $1 at some point in the far, far future, I would expect buyers on listia would start spending 1 xnk as if it were worth 1$. So holding onto even store credit could still be a viable option. There can't be a large discrepancy between the value of xnk on listia and value being trading elsewhere. The overall entire market will guide xnk holders to wherever they can get the most value for their xnk and the prices will even out. It's like jumping into the fast lane in traffic. It eventually evens out when everyone else has the same idea. One day I hope xnk has gone up 1000% and I'll have been smart enough to save a bit of it and still be able to lament...."gosh darn it, you know back in 2018 I spent 20xnk on a 1$ amazon gift card. Man that was 200$ for a 1$ gift card. Who knew?!" Also this is a great time for cryptocurrencies on the whole. It's that time when suddenly more people are talking about it in the news and because most cryptocurrencies have a hard limit of how much is in circulation the only way for new users to buy in, is for the currency to divide amongst more people. That is why the popular ones go up in value so quickly. When more people want it and not enough people are providing, the value goes up. |
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bid1
Junior Member
I feel more like I do now, than I did when I first got here.
Posts: 67
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Post by bid1 on May 14, 2018 6:22:38 GMT
Hey Mike0029, glad you got in here, thanks. Great ideas. I still am so confused, even after Mike's and everybody else's well-detailed explanations. Chalsie's been great, as has natahoa at explaining this weird economics/finance stuff. I did not do well in any economics class I ever took. Yeah, I have even had economics classes, and still am completely confused by this, I always was. If you look at Mike's Listia auctions you'll see he's sold bitcoins and other crypto currencies. Speakin' of which, why doesn't Listia allow auctions of INK like they did credits for dollars? Remember that? What, auction XNK for ... XNK? Well, I kind of got when you said above, "if I have 200 XNK in my store balance and I sell an item for 300 XNK, Listia takes 30 XNK in GIN fees, but they will take it from the store credit, meaning store credit balance would be 170 XNK and your main balance gets 300 XNK from the sell (sic, sale) that you can move out of Listia. Theoretically your store credit will gain value if XNK itself gains value..." So, that means what, my store credit still is stuck in Listia. Credits had negotiable value, XNK does not, not if it's in store credit. See what I'm saying? That really devalues even credits, because you could sell them and actually make dollars off of them. So, I guess the advantage is only to those who sell items, and those of us who do not, get ripped off, basically.  There are a lot of problems here, as natahoa has said repeatedly. Ya gotta love chalsie's optimism with her hope that, "I hope xnk has gone up 1000%..." Thanks for keeping up with us, everybody. I know this board is slow, but I really did not expect for it to be a Times Square of communication and activity. I really think from the contributions so far, it's been invaluable. Thanks to all involved. I'll keep in touch with you guys. |
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Post by Admin on May 15, 2018 0:59:22 GMT
Hey Mike0029, glad you got in here, thanks. Great ideas. I still am so confused, even after Mike's and everybody else's well-detailed explanations. Chalsie's been great, as has natahoa at explaining this weird economics/finance stuff. I did not do well in any economics class I ever took. Yeah, I have even had economics classes, and still am completely confused by this, I always was. If you look at Mike's Listia auctions you'll see he's sold bitcoins and other crypto currencies. Speakin' of which, why doesn't Listia allow auctions of INK like they did credits for dollars? Remember that? What, auction XNK for ... XNK? Well, I kind of got when you said above, "if I have 200 XNK in my store balance and I sell an item for 300 XNK, Listia takes 30 XNK in GIN fees, but they will take it from the store credit, meaning store credit balance would be 170 XNK and your main balance gets 300 XNK from the sell (sic, sale) that you can move out of Listia. Theoretically your store credit will gain value if XNK itself gains value..." So, that means what, my store credit still is stuck in Listia. Credits had negotiable value, XNK does not, not if it's in store credit. See what I'm saying? That really devalues even credits, because you could sell them and actually make dollars off of them. So, I guess the advantage is only to those who sell items, and those of us who do not, get ripped off, basically. There are a lot of problems here, as natahoa has said repeatedly. Ya gotta love chalsie's optimism with her hope that, "I hope xnk has gone up 1000%..." Thanks for keeping up with us, everybody. I know this board is slow, but I really did not expect for it to be a Times Square of communication and activity. I really think from the contributions so far, it's been invaluable. Thanks to all involved. I'll keep in touch with you guys. The way I look at it the store credit does have negotiable value though, because I have been consistently buying from people on Listia, and if I am a repeat customer I usually negotiate deals, the seller saves on shipping costs, I save on XNK, and it is a win-win for both of us! Whenever I make a purchase or have to pay fees it takes away from my store credit balance first, so I actually enjoy earning store credit especially the 10 XNK bonus for 5 listings. Not only am I getting 10 XNK free, but if my items sell then I get even more XNK to play around with. What I meant by "store credit will gain value if XNK gains value" is that the way I sell items will change when the price changes. Sometimes I will give a 10+% discount just in anticipation of XNK's value going up. Depending on the listing, if XNK is worth $0.06 I will put up a $1 card for about 14.3 XNK which values the buyer's XNK at $0.07, so they have more purchasing power because each XNK is worth $0.01 extra. I do believe XNK will take off eventually with more and more marketplace integration and things like the Ink Pay app, but who knows how long that will take. In the meantime I am accumulating Also Chalsie I sympathize with this quote: "gosh darn it, you know back in 2018 I spent 20xnk on a 1$ amazon gift card. Man that was 200$ for a 1$ gift card. Who knew?!" as if you go back far enough on my Listia history I was posting listings for .01 bitcoin for about 20K credits back in like 2014-2015, but we live and learn |
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bid1
Junior Member
I feel more like I do now, than I did when I first got here.
Posts: 67
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Post by bid1 on May 16, 2018 0:16:24 GMT
What's a dang bitcoin worth now? $6K, or $20K? So back then .01 BC would be worth like...uh...$60, or $200 now? Wow. Thing I'm kinda concerned about is I have no XNK in my main balance, so it's still worth less than credits. Yeah, I can use it to buy stuff, just like I could credits, but I could also sell credits if I wanted. We can't sell XNK unless it's in the main balance and not store balance. And it's not saleable like credits were. Somebody should post a conversion in here, plus a current market value link in here. Like the current rate is 3,850 credits/XNK and 27,500 credits/dollar. Hmm...3,850 credits X 1 XNK = 3,850 / 27,500 = 14¢*. Now just do a table on that little formula. Ugh, I can't even believe I figured that much out. One thing we know is no way is an XNK worth 14¢, right? I keep seeing like 3¢ and 4¢ as it's market value since we started this board. 3,850 credits X 1 XNK = 3,850 / 27,500 = 14¢
X 5 XNK = 19,250 / 27,500= 70¢
X 10 XNK = 38,500 / 27,500 = $1.40
X 15 XNK = 57,750 / 27,500 = $2.10 ... ? That seem right to anybody? I hate math cuz I'm no good at it. Now, from help.listia.com/hc/en-us/articles/360000473552-How-much-is-1-XNK-worth- here's Listia's conversion: |
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natahoa
Junior Member
Long time LIstia user. Ink investor.
Posts: 73
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Post by natahoa on May 16, 2018 12:28:32 GMT
What's a dang bitcoin worth now? $6K, or $20K? So back then .01 BC would be worth like...uh...$60, or $200 now? Wow. Thing I'm kinda concerned about is I have no XNK in my main balance, so it's still worth less than credits. Yeah, I can use it to buy stuff, just like I could credits, but I could also sell credits if I wanted. We can't sell XNK unless it's in the main balance and not store balance. And it's not saleable like credits were. Somebody should post a conversion in here, plus a current market value link in here. Like the current rate is 3,850 credits/XNK and 27,500 credits/dollar. Hmm...3,850 credits X 1 XNK = 3,850 / 27,500 = 14¢*. Now just do a table on that little formula. Ugh, I can't even believe I figured that much out. One thing we know is no way is an XNK worth 14¢, right? I keep seeing like 3¢ and 4¢ as it's market value since we started this board. 3,850 credits X 1 XNK = 3,850 / 27,500 = 14¢
X 5 XNK = 19,250 / 27,500= 70¢
X 10 XNK = 38,500 / 27,500 = $1.40
X 15 XNK = 57,750 / 27,500 = $2.10 ... ? That seem right to anybody? I hate math cuz I'm no good at it. Now, from help.listia.com/hc/en-us/articles/360000473552-How-much-is-1-XNK-worth- here's Listia's conversion: |
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natahoa
Junior Member
Long time LIstia user. Ink investor.
Posts: 73
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Post by natahoa on May 16, 2018 12:40:41 GMT
Thanks mike!
The next time I sit on my computer I’ll work on uploading some photos.
I know how to upload photos to Listia. I needed help posting photos here. Was that pizza your dinner? 🤭
Good point about store credit. The value of ink has finally crept up to 7 cents in idex. That is about break even for me. But I’m not planning to sell. I’ll probably wait a year or so to see what happens.
I browsed listings the other day and am still seeing not much of value on Listia. I thought about listing some of my jewelry but I just don’t think there is much of a market for it on Listia. My mindset is that I already have a lot of ink. I don’t really need to earn more ink by spending a fortune on shipping since I’m unlikely to get much ink for them. My shipping costs a minimum of $3. So that amounts to about 60 ink. But that is the reality. You can earn ink and what you are paying for it is the cost of the item you are selling. Plus. Shipping if applicable.
Most people simply don’t have a lot of ink to spend. And items of real value cost more in ink than they are worth.
The inkPay app should be out soon. Eventually that will include fiat conversions. So they say. When you can buy ink with cash it might be worth using the app to do that. And/or sell using the app rather than Listia.
Regarding the cost of ink. Credits converted at a rate of 14 cents but now when you spend that ink (converted from credits) you only get 5 cents (or whatever the market value is). So to me, I’d be throwing away my ink buying stuff on Listia until the value of ink goes to at least 7 cents but preferably higher. This is what convinced me to stop selling and buying on Listia. The economics suck.
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Post by dee796 on May 16, 2018 17:37:56 GMT
I'm not good at the math either, but, I believe that when you list items on listia and the XNK from those items goes into your balance, which can be used in listia or sent out of listia to wallet, and then used in marketplaces that is soon coming. The store credit, is from surveys, referral credits and promotional credits and eventually, you will be able to buy XNK with credit card and that will go into the store credit. If, I am thinking right, the store credit, can only be used inside of Listia.
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Post by chalsie on May 17, 2018 10:07:53 GMT
"Also Chalsie I sympathize with this quote: "gosh darn it, you know back in 2018 I spent 20xnk on a 1$ amazon gift card. Man that was 200$ for a 1$ gift card. Who knew?!" as if you go back far enough on my Listia history I was posting listings for .01 bitcoin for about 20K credits back in like 2014-2015, but we live and learn " Omg Mike! .01 bitcoin for 20K credits...ouch! xD Well, I'm waiting for the bitcoin category to even out a bit on pricing against XNK. It's still a bit high to trade for any other coin for my tastes. I think I like the look of ETH and LTC. But for now XNK actually seems to be doing well so I'm keeping my hopes high. |
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bid1
Junior Member
I feel more like I do now, than I did when I first got here.
Posts: 67
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Post by bid1 on May 17, 2018 15:35:54 GMT
Thanks mike! ... Was that pizza your dinner? 🤭 Good point about store credit. The value of ink has finally crept up to 7 cents in idex. That is about break even for me. But I’m not planning to sell. I’ll probably wait a year or so to see what happens. I browsed listings the other day and am still seeing not much of value on Listia. I thought about listing some of my jewelry but I just don’t think there is much of a market for it on Listia. My mindset is that I already have a lot of ink. I don’t really need to earn more ink by spending a fortune on shipping since I’m unlikely to get much ink for them. My shipping costs a minimum of $3. So that amounts to about 60 ink. But that is the reality. You can earn ink and what you are paying for it is the cost of the item you are selling. Plus. Shipping if applicable. Most people simply don’t have a lot of ink to spend. And items of real value cost more in ink than they are worth. The inkPay app should be out soon. Eventually that will include fiat conversions. So they say. When you can buy ink with cash it might be worth using the app to do that. And/or sell using the app rather than Listia. Regarding the cost of ink. Credits converted at a rate of 14 cents but now when you spend that ink (converted from credits) you only get 5 cents (or whatever the market value is). So to me, I’d be throwing away my ink buying stuff on Listia until the value of ink goes to at least 7 cents but preferably higher. This is what convinced me to stop selling and buying on Listia. The economics suck. Wow, natahoa, I'm not sure if you were talkin' to Mike or to me there, esp., about that "pizza", which isn't pizza, it a apple pie! It just apples, butter sugar and pie dough. And I mean dang they's good pies. So no, not dinner, but it was my first or second and only two sales, ever on Listia. I'm depressed that I didn,t make that more clear and especially that it looked like a pizza!  I guess I'm just a frustrated baker. An inkPay app, eh? Thanks for that info, I had no idea. Also tyvm for the info on cost of ink/xnk, wotever the heck they call it. Boy it's like they said, "we'll make a new currency and double name the darn thing to just really add the the confusion". |
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Anyway if anyone has any specific questions to send my way, I am happy to discuss and I will try my best to log into the forum here at least once a day. Hope everyone is doing well 
I guess I'm just a frustrated baker.