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Why is ist currency for everything?

Discussion in 'Diablo 2 Community Forum' started by sighoth, Jul 29, 2010.

  1. sighoth

    sighoth Banned

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    Why is ist currency for everything?

    I got to thinking, It seems that the whole D2 community myself included use ists as a currency, IE you want a tourch, you ask "how many ists?" why is this exactly? sure its a great rune, but why not gul or somthing else near ist ? mal even, I assume its becuase ist is just before the HR's? Can some super pro tell me why :)?
     
  2. Shanksie1337

    Shanksie1337 IncGamers Member

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    Re: Why is ist currency for everything?

    I think it's "just because"

    It's high enough to be valuable/rare, but low enough to be common enough to be used as a currency. Sure all the lower rune are also currency, it's all related in that t pgems = k Lems, q Lems = r puls, x puls = 1 Ist, y Ists = 1 Zod for example. People want to trade in "sensible numbers" and for most trades in the current economy Ists is the most used medium. I certainly wouldn't want to pay for Griffons / Anni's / PTorches and the like in pgems.

    We could i guess have used Mals / Guls or whatever, the D2 "world" has accepted Ists.

    At some point we might be talking in "hr" terms again, but i sincerely hope not.
     
  3. Occulus cant be ethereal

    Occulus cant be ethereal IncGamers Member

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    Re: Why is ist currency for everything?

    I remember discussing currency back in .09 on forums when the duped sojs were the currency and some people predicted at some time Ist would be the new currency. But that was before the newer runewords were introduced.

    Also, Ist is the second last rune that the hellforge will drop. Ist would be better than Gul however you can use gul is some newer runewords or cube them up to the useful vex.

    Its one of the higher runes (besides ums) that are useful by themselves.

    Over the last few patches, it is stable.

    It seems in this patch that Ists arent really currency but just a good reference point. Bers and Jahs are expensive compared to ists.
     
  4. Shanksie1337

    Shanksie1337 IncGamers Member

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    Re: Why is ist currency for everything?

    odd point, how aren't they currency? In a make up world like D2 where the only real currency - gold - is nigh on worthless, it's pretty much a trade environment with runes acting as currency and points of reference / comparison.

    That's like saying $1 bills aren't currency, they're just used to compare $10 and $20 notes. Runes are currency, and Ists are the most used currency, just like $10 and $20 notes. (i dunno why i am using bucks when i am from the UK :doh:)

    If you have Griffons and need a Deaths Fathom you're pretty much going to need to sell griffs for runes and then by the Deaths for those runes.

    That said, i know some ppl are expecting it to go back to a hr / ber / jah economy, but for now that's not the case.



     
  5. Abakus

    Abakus IncGamers Member

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    Re: Why is ist currency for everything?

    Actually on Asia battlenet, Gul and 100 poison damage scs are the currency.
     
  6. Occulus cant be ethereal

    Occulus cant be ethereal IncGamers Member

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    Re: Why is ist currency for everything?

    In that sense, of course all the runes can be used as currency.

    What I meant is, in this patch its harder to crack an ist down or trade multiples of them for bigger runes like you do with real currency. It just seems harder to trade your 10+ ists for a Ber than the 3 ists for hr as before. it used to be a standard 3um for ist but its more like 2 ums these days [ESCL]. Mals and Guls have also increased compared to ists this patch.

    Of course many of us are used to dealing with values to ists so it is still ists. With mid rune values, it seems to be more linear than before. HRs are obviously different.


     
  7. droid

    droid IncGamers Member

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    Re: Why is ist currency for everything?

    Here's some Econ 101:

    A currency (or, more precisely in this case, a medium of exchange) has value for two reasons: one, its relatively rare; and two, it has some intrinsic worth.

    Gold in our world became the universal currency because it's relatively rare, and it was beautiful and easy to work into jewelry for ancient peoples, giving it intrinsic worth.

    Modern currency used to be tied to the value of gold, but since the gold standard has been dropped, the USD has no more intrinsic value (except inasmuch as it's tied to the GDP of the US). The only reason it still has value is simply because we all accept it to have value, and can regularly expect most others to accept it as well. That's why inflation is so much more rampant now than it was before the gold standard was dropped.

    Ist is the rune of choice for trade because its relatively rare, and has intrinsic value because it's used both for several popular runewords (CoH, CtA, Exile, Infinity), and of course also socketed for MF. Pul and Um are both too common, so their value is too low; it'd be like trying to pay for everything with nickels. Gul is rare enough, but lacks the intrinsic value since its only real use is to cube up to Vex. Vex and up are both too rare to make a workable currency, and usually get used up in runewords soon after being traded - so there arent enough in circulation to base an economy on.

    Also, the value of runes below Ist is mainly dominated by their cube value, since this provides a hard cap against the value of, say, Pul ever rising over 1/2 Um.

    The difference in relative values between Pul and Vex this patch is largely attributable to the change in rune drop rates. Puls, Ums, Mals, even Ists are now dropping much more frequently in regular play, whereas before the main source of these was HF runners.
     
  8. Zarniwoop

    Zarniwoop IncGamers Member

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    Re: Why is ist currency for everything?

    Its because its the highest value item there is that is reasonably plentiful.

    I.E. plentiful enough that everyone can relate to it, rich or not.

    Also, most items aren't worth Bers or Zods. They're worth an ist or two max.


    Edit: Droids answer beats the crap out of mine.
     
  9. krischan

    krischan Europe Trade Moderator

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    Re: Why is ist currency for everything?

    As already said, Ist is useful and rather rare. That means, if its value drops, more people will socket weapons and shields with them, so their numbers decrease which leads to higher prices again. It's similar with gems (rerolling) and a couple of low runes (crafting, Spirit shields), as well as Um (and Pul because 2 make an Um rune), but Ist is more rare. If a pgem is the $1 bill, Ist is the $100 one.

    However, Ist value drops on the long term (down to Mal and even below) while it's not like that with gems and low runes... probably because people get richer and richer and are less willing to mule back and forth hundreds of low value items.
     
  10. DjSlayer

    DjSlayer IncGamers Member

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    Re: Why is ist currency for everything?

    Ive found it rather interesting how chaos can bring such an economy, why ists indeed, why not plain vita scs (20) or Mals. Considering Mal>Ist in terms of usefullness in runewords. Many of the most popular runewords have a Mal rune in them (Grief, Beast, CtA, Faith and Infinity) actually Mal is in 12 runewords compared to the 7 runewords you find Ist in.

    - D.J.
     
  11. Shanksie1337

    Shanksie1337 IncGamers Member

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    Re: Why is ist currency for everything?

    blame the mf addicts:whistling:
     
  12. nurman

    nurman IncGamers Member

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    Re: Why is ist currency for everything?

    I've always considered as Pul the main currency, alongside Ist.
     
    Last edited: Jul 30, 2010
  13. Zarniwoop

    Zarniwoop IncGamers Member

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    Re: Why is ist currency for everything?

    Yes, but they are in about the same number of useful rune words.
     
  14. krischan

    krischan Europe Trade Moderator

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    Re: Why is ist currency for everything?

    Pul is only a good currency rune because two can be cubed into Um which is one of the most useful runes for plain socketing. There are far more Pul runes than needed for runewords.
     
  15. sighoth

    sighoth Banned

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    Re: Why is ist currency for everything?

    maybe its just me but pul and um are like £1 coins and ists are £5 notes, if someone wants somthing for 4 ist and the buyer only offers 3 ist + add, then theyll throw in some £1 coins and hope for a trade, thats how i seem to get my head around the runes. Weird i know.
     

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