Opinion; Legacy economy is rekt, but not because of the reason you think.

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Shagsbeard wrote:

Yep. Less sink... more supply. More supply, lower value.

But that doesn't "rekt" an economy... it just redefines it. Chaos will be worth less in this league than previous leagues. Get over it.

Um, actually, it can ruin an economy, or portions of it. This is where I get to spit your "this isn't the real world so it doesn't apply" garbage back at you, except this time it is correct. Currency does not come from an employer or other finite source, it is produced by the server (obviously) and in unlimited amounts, only tethered by how quickly it leaves the economy (crafting, Zana mods, etc.) When the rate that it leaves the economy plunges, as it is doing now, the result is crazy inflation. Everyone's chaos is worth less because universally it is wanted less. This doesn't ruin anything other than the value of chaos, but the thing is many transactions go through chaos because exalts are too rare to farm and most items of intermediate value are listed in chaos. This wouldn't matter much except that a significant portion of people's income, especially slower/casual players, is the chaos recipe - which now gets you less, about half as much actually, as it did last league. Their "wage" from the server has gone down due to inflation. And please, if you have some silly excuse as to how inflation doesn't wreck an economy for the 99%, I'd love to hear it.

Inb4 "play SSF so no troublez". I'll play LSC like the scrub I am, thanks.

I think we should also take into account how the number of players active in the League influence those prices.
Personally I didn't play the last League, so I can't really be for sure. However if I remember correctly the point where the Exalted price dropped down to 42ish Chaos was when the league was already 2-3 months in. At that point a lot of the more casual players might have stopped being active in the league, waiting for the next one, taking a break or returning to permanent league.

Now we do know, that every new League's start pretty much breaks the records of total players online, so we can assume that over the first 2-4 weeks of a new League massive amounts of people, also lots of casual players, do play a lot. Those people will mainly farm Chaos orbs, even doing the recipy, so very soon there will be a LOT of chaos on the market.

However, as I can see on my friendlist on a daily basis, the amount of the not-so-dedicated players being active already starts to crumble (for whatever reasons, be it boredom, burnout, real life or just others). Following that logic, this will also decrease the influx of chaos orbs to the market over time.
So my guess: We will soon have reached the peak of chaos available on the market, the price will likely stabilize then (prolly around 1:100 ex/c) for a while. With time passing and depending on the actual chaos sink that still remains which are rolling maps and chaos spam, the ratio will go down to a more reasonable scale. Likely Exalted will even drop under the Standard ratios in month 3-4 of the League.

I am genuinely curios what could you spend chaos on. Vaal Regalia seems like an option, but a bit too "yolo" for my taste (alt + regal feels better, but I've never crafted a really valuable item so correct me if I'm wrong).

The economy aspect is one thing that I like about this game, the fact that currency is consumable. But right now I don't see a meaningful sink for chaos orbs.