Feedback FP $........fair or unfair?

Pennywise

Madly Diligent
Okay. I was viewing the thread where they're auctioning off the chance to have your site listed as a redirect here on Forum Promotion. Well, there are certain people that have more FP $ than others and some people think that's it's not fair that some people have a ton of FP $ in their account. The point I'm trying to make is some people think it's unfair that some people have more FP $ than other people, at least in the case of this auction because the people who have a ton of FP $ are more likely going to end up winning the auction.

I've been a member of FP since April of 2013 and I've had the opportunity to rack up some FP $ since then. One of the ways I've done that is I've worked on the staff team off and on since I've been a member here (like the Package Team and the Review Team for example). So I've had the opportunity to earn more FP $ than normal and I've worked hard for that. I don't think it's fair to wipe all off the FP $ I've accumulated over the years and make me start all over. The same thing goes for other people on the forum. They are going to have a lot of FP $, some of them will have more than me. I don't think it's fair to wipe their FP $ either.

Here is another idea....instead of wiping everyone's FP $ and making everyone start all over, why don't we have it where it's a drawing instead of an auction? That way, it's more random and there is a chance that anyone can get their hands on the redirect instead of making everyone wipe their FP $.
 

Van1lla ™

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But what is the use of it now? You have one service to spend your money on and the highest that is is 400. Having so many members who have been around for so long and having so much cash has inflated the value of it. It is worthless. So if they bring in newer services, how is it supposed to encourage the older members to post to build their cash back up, if they can afford every service without having to actually be active on here? Especially when you can whack your cash in the "bank" and earn 2.5% on it daily. That means you can afford a top price package daily. So wheres the motivation for others to post?
 

Joshua Farrell

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770000? Didn't know I went above 700k yet. Put 50,000 FP in the bank when it was first put in, and click the collect interest most days since then, it builds a bit every day till it hits 600k. I personally decided to stop, because of the amount I didn't realize it would get up to. Now I have been spending it on random "sticky a random topic to be nice".
 

ChrisGrigg

Administrator
Administrator
During the staff conference call tonight, we have disabled the interest rate for right now. This will allow us to halt the massive amounts of FP the system is pumping into the ecosystem while we focus our efforts on reducing the amount in circulation.
 

Joshua Farrell

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From where I have been looking at, half of the issues surrounding the "hoard of FP cash", involve the fact that you have a number of users who are effectually inactive (effectively locking the FP from use), and those who are unwilling to do any more exchanges or try putting effort into trying to get something, because someone just "happens" to have more fake currency than them. Bidding wars has always been an issue for the last 3-4 years, because no one is willing to give up that "precious fp".

Common, sure, I put effort to build up mine (before the bank addition), but I have always been willing to give mine away, if I thought someone needed it more than me. You wouldn't believe how many times I dropped the FP I have down to zero, just because of one thing or another that I wanted to put it to use in.
 
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Bluezone777

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The thing is, most of the FP cash isn't spendable because either the user is inactive and for those who are active, there isn't anything to spend it on so the only thing you can do is save it which in turn causes the problem you see now. A new service or services that interests people might slowdown the buildup of money but I don't see it turning it around as there is just far too much in circulation for new services or forum auctions to effectively knock it down to where it regains some semblance of value. A reset while unpopular would put everyone back on an even level combined with a proper managing of both FP cash intake and outtake can ensure that money can be made by all but the value of it is retained. If FP cash regains value then people will push to make more doing the sort of things this forum needs from offering services for FP cash and posting which in turn makes this forum more attractive to stay on and to join it.

It may look like you are losing FP cash but you are really gaining FP cash as the wipe out is taking away a worthless currency and the money you would make afterwards would be worth far more than the currency you "lost" in a reset. The currency we have now is worthless as you already lost it all when its value was stripped away from over inflation. A way to manage the currency post reset is to gauge how difficult it is to spend versus getting the money. The harder it is to spend, the harder it should be to get it in the first place. The more that there is to buy then that should be when the amount of currency available to should go up and not before.
 

Jordan

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there isn't anything to spend it on so the only thing you can do is save it which in turn causes the problem you see now.
This here is a big problem. $FP isn't worthless because there is so much of it in the system. It's worthless because there's nothing to spend it on that gives it value.

The next biggest problem was introducing interest.This was just a ridiculous idea from the start considering a lot of complaints about there being to much $FP to begin with. If the interest was actually at a reasonable amount, and could only be collected for users who say, have logged in every day for the last 7 days etc to try and increase activity, than perhaps it would have been a better system.

Well, there are certain people that have more FP $ than others and some people think that's it's not fair that some people have a ton of FP $ in their account.
To you have the same opinion about real life currency? Do you think it's unfair that Jeff Bezos and Bill Gates has billions of dollars and would be able to out bid you in any auction ever?

If you want more $FP, then go out there and earn some.
Speaking as the person who was the richest person on FP before the interest option was enabled, I would have happily spent it if there was actually things to spend it on that made sense and created value.

I even purchased the "Philosopher's Stone" item in the shop just to get rid of some of the currency. And that was an expensive item. And all the item is was a currency sink. No value to it. Bought it just to have it and to rid of $FP.

A reset wouldn't make the currency valuable again. Any new currency gained after the reset would still be worthless as there is just nothing to spend it on, and that's the problem.
 

Jason76

Package Team Member
Package Team
FP$ still seems quite valuable - as you can get hosting with it from @ChrisGrigg


So if reseller is worth around 3,000 FP $ - can we say 3,000 FP is maybe equal to $10 or something?
 

Pennywise

Madly Diligent
To you have the same opinion about real life currency? Do you think it's unfair that Jeff Bezos and Bill Gates has billions of dollars and would be able to out bid you in any auction ever?

If you want more $FP, then go out there and earn some.
Speaking as the person who was the richest person on FP before the interest option was enabled, I would have happily spent it if there was actually things to spend it on that made sense and created value.

I even purchased the "Philosopher's Stone" item in the shop just to get rid of some of the currency. And that was an expensive item. And all the item is was a currency sink. No value to it. Bought it just to have it and to rid of $FP.

A reset wouldn't make the currency valuable again. Any new currency gained after the reset would still be worthless as there is just nothing to spend it on, and that's the problem.
I am not complaining about how much FP $ I have or the lack of FP $ I have. What I was trying to mention in the original post was that I have worked hard for the FP $ that I have. Yes, I understand that FP $ isn't really worth a lot. But I still worked hard for it despite the it's worth or lack of worth. What I think is unfair is to wipe away everyone's FP $ when there are people who have worked for that currency as a staff member at some point.

I don't think it's unfair that Jeff Bezos or Bill Gates has all that money. They came up with a company/product that is now worth billions. Would I like to have billions of dollars like they have? Of course I would! But until I come up with something that's worth billions of dollars, then I'm out of luck.
 

Van1lla ™

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But even if they introduced new services now to encourage people to spend the money, the prices of the services would have to be a lot higher to match the amount of FP cash in circulation that keeps growing. Thus creating inflation. By resetting it, you can stop the inflation and control the amount in circulation.
 
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JoelR

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They don't need to raise the prices. There are probably only a handful of superusers with tremendous amounts of FP, and raising the prices to those levels only skewers the prices for all of the casual users and will push the prices out of reach.

The entire system needs an overhaul. The leadership needs to come up with meaningful products and services, a realistic way to achieve new FP points, and a way to deflate the money over time so people don't horde. You need to look at all of these objectives for a comprehensive view of the currency and look at what's best for the community as a whole.

There are lots of ways to re-align the earning and spending. You should make certain activities actually cost FP, like entering site battles or promotion forums. You should be able to earn FP for meaningful activities like submitting a homepage article or doing peer site reviews. And the money should deflate for every week that you don't visit, so your money becomes less over time through inactivity.

There are also different ways of adjusting current balances. You don't have to do a jubilee that resets everyone's balance. You can proportionally scale the loan balance, which still allows legacy users to retain a relative larger amount of FP. But the fact that your first auction went from 10 FP to 20,000 FP in a day should be a very vivid example of the ridiculous and obscene amounts of FP sloshing around in the system.
 

ChrisGrigg

Administrator
Administrator
I’m on mobile at the moment so I won’t have a detailed reply. I think our first auction for the redirect went quiet well as we eliminated 600,000FP in one auction. The next auction is already up to almost 10,000FP. I think this is an effective start at reducing the FP in circulation. We actually discussed the possibility of charging for entering site battles. We still have more discussion to do and reducing the amount of FP in the economy is one of our highest priorities at the moment.
 
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Cameron.

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We need to find some type of compromise, and then make a decision on it and move forward. Not everyone is going to be thrilled about it. I can't buy back the millions of FP$ we currently have in the system. That's obvious. We will continue to do these different things to work on removing FP$ out of the system, but more changes will definitely need to happen. This doesn't mean completely resetting FP$, but I do think we could look to big companies that have rewards sites and see how they operate their points systems. MyCokeRewards is something that comes to mind. Unless they've made recent changes, I know that your points would expire if you had 90 days of inactivity. We could potentially implement some type of reset for our inactive users.

We could also look at handling FP$ like your PTO days at work. :p Does you job allow you to carry over your leftover PTO days into the next year? Mine allows you to carry over up to five days. Perhaps we could have some type of cap, where you are only permitted to carry over a certain amount of FP$ into the new year. The rest would go to mush. We could then put a greater emphasis on offering more big prize auctions in the month of December, and our richy rich members can really get into some bidding wars in those auctions.

I'd really like to see FP$ get back to the small numbers you used to see. No more giving 250 FP$ every time someone wins a site battle. Let's create a system with small numbers, like 1 FP$ per reply, and 2 FP$ per topic. Then maybe you get 5 FP$ for winning a site battle. Then we could offer packages and different advertising opportunities for less than 100 FP$, so these things would look like a legitimate possibility. That would hopefully mean that our auctions would become open to our casual FP users as well.
 

Matthew

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My work allows total accumulation of days. Each year I get 15 days and I get to move forward however many days I have left currently I’m sitting at 23 After two years of work. :p
 
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Jordan

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I'd really like to see FP$ get back to the small numbers you used to see. No more giving 250 FP$ every time someone wins a site battle.
Could always do a "squish". For every 1,000 $FP someone has they get 10 or something similar.