Let's have a friendly discussion on the functionality of currency in the current state of the game.
1) Armbraces: Their function is to be traded for Tormented weapons. Their value comes from the fact that they are used for high end trades, or simply for those who want to save space by converting their other currencies into Armbraces. I don't see much of a demand for Tormented weapons these days, and most trades under 30a can be done with ectos or zkeys. To break it down even further, any trades under 175a could be done with Gold Z Coins. So the true value in Armbraces is only reserved for trades of over 175a, which are very few. Does this support the current demand for Armbraces? Are they accurately priced at 55-60e/ea? Or are people simply used to the fact that Armbraces are the highest end currency?
2) Zkeys: Their function is to open the Z chest. With the exception of the rarest items (such as an Everlasting Beetlejuice tonic), Z chest drops have a very low value, so I highly doubt people are opening the chest to gamble; most open the chest for the title. What is it that is so enticing about the Z rank title? It serves no function other than an HoM statue, at rank 3. The title has become so devalued that it's not impressive to see people with a z 12 title. Often, people with such titles are accused of gold-buying or botting, which further devalues the title for the people who achieved it legitimately. Are Zkeys accurately priced in relation to Ecto? In relation to plat?
3) Ectos: Their function is to craft Obsidian armor and Chaos gloves. Are crafting these items still important to the player-base nowadays? Occasionally an old player will log in and say "I've always wanted Obby," but are there enough Obby-seeking players out there to justify that Ecto is still being used as a currency? People are simply used to Ecto as a currency, as there is no real value to it anymore. It's simply not any more valuable than the craft materials used for Vabbian armor. In fact, I'd argue that it's the most common currency in the game now since so many people have stacks and stacks of it, and therefore is the least valuable material. Ectos have been on a downtrend in relation to plat for the past several years. Will it continue to go down in price?
4) Z Coins: Their function is to be traded in for multiple items which serve a purpose, rather than cosmetic. I'd argue that these are the most highly functional currencies in game. Their sink is pretty big, with items like runes to expand your bags, heavy equipment packs, tomes, and more. Are they currently priced accurately? Why are they priced in ecto and not in plat? Why are they not used as a form of currency more often in place of ectos and arms? Will Silver and Gold Z coins replace them as a currency - or is the populace too attached to Ecto?
5) Lockpicks: Their function is to open chests. Chest running serves two purposes - finding treasure, and filling a title track. I'd make the case that the reward for your return on chestrunning is much greater than opening the Z chests. For a much lower rate than a zkey, you get gold drops that you can sell unidentified, or ID them and sell the mods. You also have a chance of getting a nice skin, or an OS weapon or shield that can be sold on the market - No crème brulees here. I suppose it's up to the player if they value the Treasure Hunter title over the Z rank title. The Z rank title has the emote, but I personally find the treasure hunter title more prestigious, as the player more than likely worked for it. Also, the lockpick value is predetermined by the game. Lockpicks will always be stable and never fluctuate in price in relation to plat. Lockpicks are a very safe way to preserve your money as a hedge against inflation; sort of like precious metals IRL. It also seems to make more sense to me that people would use lockpicks as a currency over Ectos, when Lockpicks are much more stable.
6) Gold: Their function is to buy lots of useful items from the Guild Wars NPCs; highly functional. The obvious issue with gold is that Guild Wars has a cap on how much gold one can carry, and therefore is not conducive to trades with other players valued over 100,000 gold.
Trades over 100 plat should theoretically be done with Lockpicks & Z Coins. I don't even see where Armbraces fit into the equation. They're not nearly as functional; but perhaps they're harder to farm and therefore considered more valuable. Many of the sellers of the super high end minis will not even accept Armbraces as trade anyhow. I certainly can't find anyone willing to take my Arms for their minis. So my Armbraces are in effect, worthless to me, since I only bought them to acquire the high end minis.
Disclaimer: I have no vested interest in Lockpicks or Z coins at the moment, as I've liquidated them all for Armbraces (which as you can see above, was not for investment purposes, but for the acquisition of high end minis).
I would like to here all of your thoughts!
