Pinned The Bot Central Bank (BCB). Guaranteed Gold Exchange

    • The Bot Central Bank (BCB). Guaranteed Gold Exchange

      BankerBot is currently asleep. You can still send currency for exchange but return mails will be delayed.

      Current Ratios:
      BankerBot is Buying Your Gold: 215g:1p
      BankerBot is Selling Gold: 205g:1p
      Current Maximum Exchanged per 24h (per person): 500p

      This is how much platinum you can buy from BankerBot/How much platinum you can send him to be changed to gold.
      Most recent ratio change Nov 20th 6:07 p.m. PST
      *Click Clack*

      Greetings Entrathians! Welcome to Hex's first guaranteed gold exchange service. Read below for more details, but in short BankerBot is here to always provide a hassle free for you to buy or sell your gold. What you currently see at the top of the post is the rate you will get to buy or sell gold, and the post will be updated to reflect BankerBot's current reserves. Whatever it CURRENTLY says when you send your gold to BankerBot is the ratio you will get back. This ratio will change over time but what matters for your exchange is what this post says at the time you send your gold.

      Onto the nitty gritty.

      Q1: How do I use BankerBot to exchange my gold for platinum or vice versa?

      A1: The Hex client contains a mail system for delivering and receiving items or currency. Simply send your gold or platinum to BankerBot via the mail system. You may send it CoD using the exchange rate at the top of this post or simply send an amount and BankerBot will convert it for you and return the proper amount.

      The mail system can be accessed by clicking the letter icon in the bottom right of your client. Click "Compose" and fill in "BankerBot" as the recipient. Click the attach button in the top right of the window.


      Click the currency tab and fill in how much you'd like to send BankerBot. Any value below the maximum found at the top of this post and above the current ratio is fine. If you send an amount of gold that does not divide evenly by the ratio your received platinum will be rounded DOWN (this will at most cost you 1 platinum).

      If you wish to send CoD click the CoD check box in the bottom left and enter in how much you expect to receive back. CoD is the preferred method of delivery but is not required. BankerBot will return your exchanged currency as soon as possible.

      Q2: How long should I expect to wait to get my exchanged currency?
      A2: BankerBot is currently a volunteer operated service. Every effort will be made to get you your currency as quickly as possible. However, do not be shocked if you have to wait twelve or even twenty four hours. That said, expected delivery time will hopefully be much shorter than that. If you need to sell your gold immediately you may wish to see if BankerBot is currently available by messaging him or try selling in trade chat.

      Q3: Why does BankerBot buy and sell gold at different values?
      A3: When BankerBot buys gold his store of gold increases and the ratio he buys and sells at changes. This results in him frequently selling gold at a lower value than he bought it. Buying and selling at slightly different ratios is an effort to mitigate this bleed off of currency.

      Q4: What happens if BankerBot makes money?
      A4: Just like BankerBot could sell gold for less than he buys it, he could also buy gold for less than he sells it. In this event BankerBot's currency reserves would increase. If this happens BankerBot will simply have additional reserves and be able to increase the maximum amount exchanged per 24h. In the highly unlikely event that BankerBot accumulates more currency than could ever be needed it will be used to help fund community tournaments and giveaways.

      Q5: Who is behind BankerBot?
      A5: BankerBot is a project created by BroomBot.

      Q6: Can I help BankerBot?
      A6: BankerBot would love your assistance! BankerBot is looking for prominent community members to assist in the exchange process. Unfortunately, these positions are only open to well known community members. Although, everyone's wish to help is appreciated BankerBot's security must be a priority.

      If you'd be willing to volunteer please contact BroomBot.

      Q7: Do the volunteers or BroomBot get anything out of this?
      A7: No. Volunteers and BroomBot are uncompensated in any way for their time. Except for getting to read your happy CoDs. BankerBot is strictly a service to the community.

      Q8: Something went wrong! I didn't get my currency!
      A8: First, check your sent mail folder and make sure your mail actually had currency attached. Then if it's been more than 24 hours just mail BankerBot. It's easy to find your mail and verify nothing was sent back to you. Don't panic, we'll fix it.

      Q9: What's next for BankerBot?
      A9: The current goal is to increase reserves so we double the current daily limit.

      If you have any questions or ideas for BankerBot feel free to post below and I'll be happy to answer!


      The post was edited 48 times, last by BankerBot ().

    • This is a really cool idea, I hope you're able to keep it going. I'm not sure how quickly the exchange rates change, but you're taking on a lot of risk to keep up to date with them. It might be good to find a permanent home for the rate so you don't have to keep editing this post every day, and it would be great to have an easy link to post to chat.
    • Mystery wrote:

      This is a really cool idea, I hope you're able to keep it going. I'm not sure how quickly the exchange rates change, but you're taking on a lot of risk to keep up to date with them. It might be good to find a permanent home for the rate so you don't have to keep editing this post every day, and it would be great to have an easy link to post to chat.
      *Beep Boop*

      (On behalf of BankerBot who doesn't really want to log back in)

      The exchange rate changes based on BankerBot's available gold stores, hence the max daily exchange amount. It will never run out of gold/plat. The exchange rate will just become so lopsided one way or the other that hopefully the appropriate currency flows in and the excess one flows out.

      How quickly the exchange rate changes depends of course on how even transfers are.

      There is an expected bleed effect but that should be relatively manageable.

      I created this link for chat purposes: tiny.cc/BankerBot. Feel free to use it as well.
    • Steric wrote:

      DeckOfManyThings wrote:

      This should be in client and part of the UI.

      Let me post gold for an asking price of plat and vice versa and let the market sort itself out, like exchanges actually do. This way the market asking price isn't dictated by the whim of a single entity.
      That's basically how gold trade has been working in the trade chat since its inception.
      I know, and I haven't used it.

      I *have* used exchanges in other games (like Neverwinter Online and Star Trek Online) which basically automate the entire process ensuring you pay the minimum possible for plat or gold and have zero chances of getting swindled because you didn't do due dillgence on what the gold:plat ratio was at that exact second.
    • Well you just undercut me on buying Gold: Huzzah!
      I'd much rather have an easy reliable and fair service than make a bit of profit: I came to play HEX not Speculation.

      This goes triple for the AH and my aggravation at the (long time ago) comment about wanting it to be "organic" rather than efficient.
    • *Click Clack*

      I don't intend to do these updates daily, but I thought doing one after the first day would be a good idea.

      The first day of BankerBot was unexpectedly busy. Nearly 50 people used BankerBot to exchange gold. Most gold buyers bought the maximum while more people sold gold than bought it. This tilted BankerBot's reserves towards gold heavy and decreased the buying/selling ratios resulting in less plat per gold. However, all things considered gold inflow and outflow was reasonable. After one day BankerBot ended up with a little under 500k more gold than it started with and a little more than 2000 platinum less. Exchange rates shifted from 200-210 and 210-220 over the course of the day.

      Currency bleed has been negative (which means BankerBot has made a little money). The current plan for this is to accumulate until I'm able to double the daily limit restriction.

      Biggest surprise is how many people didn't know how to use the mail system. BankerBot has educated quite a few people on how to attach currency to their mail.

      I've certainly received a lot of thanks and encouragement. I appreciate all of the good wishes and hope everyone is finding BankerBot convenient and easy to use.
    • I recommend your next expansion be to offer a second daily tranche at a slightly worse rate. Let people who wish to pay a little more to get a bigger service and accelerate the Bank towards a bigger offering (Colin isn't even the only one who likes to buy his gold by the million)

      Another option might be to accept bigger orders but not guarantee that they will be filled. This might allow much greater volume without imperilling the guaranteed operation as larger orders could be matched against each other and/or only filled while the currency reserves were within healthy parameters.
    • Timlagor wrote:

      I recommend your next expansion be to offer a second daily tranche at a slightly worse rate. Let people who wish to pay a little more to get a bigger service and accelerate the Bank towards a bigger offering (Colin isn't even the only one who likes to buy his gold by the million)

      Another option might be to accept bigger orders but not guarantee that they will be filled. This might allow much greater volume without imperilling the guaranteed operation as larger orders could be matched against each other and/or only filled while the currency reserves were within healthy parameters.
      Heh, BankerBot will soon be running a full-fledged currency exchange, complete with futures and derivatives. =)