[Omniscient]

Months ago I retired a bunch of donation awards. These awards were mostly crypto specific but not all of them. Example would be the Brony award.

https://hackforums.net/buyawards.php

The donation award page is pretty clean with just 13 options for directly donating for these awards. Donations range from $20 up to $1000.

So now we have the new Award Market.
https://hackforums.net/awardmarket.php

There you can buy or sell awards with Bytes. Which brings me to an interesting topic.

We already have rarity with awards I grant. That rarity creates value in Bytes from the Award Market. But what happens when the donation awards are retired over time? For example if I was going to remove the Legalize It award as a donation obtained item and allow it in the Awards Market...does this mean those who have it are going to value their awards even more?

I discuss this because in-fact I do plan on removing some donation awards permanently. Over the many years I've retired plenty of awards but I think with the Award Market setup as-it-is that it's beneficial to do it more often. I may swap out some donation awards every month even.

Anyways, this imho is worth discussion and an interesting concept for collectable rarity and award value.

What do you think?

[Human]

Obviously making these rewards impossible to get would increase their value, also having less people having the reward would just make it more of a 'rare' item type of thing. I think you would need to be careful to what awards you retire, and make sure you don't bring them back again just so you won't get bitched at. Keeping them out would guarantee their increase in value only if they are associated with something highly as well..

[Zeus]

I think if you're going to retire the awards just keep it to yourself so no one knows and can plan on buying it before so it's totally more random for people to gain the bytes!

[Zeus]

Interestingly enough it may create a nice 'byte market' type area for ones like the fox and such (limited quantities) but doing so with others may actually raise the value creating a whole new marketplace for such things.

Award Marketplace?
Buy / Sell

On top of that for additional revenue if you really wanted, custom awards if the price is right for individuals OR 1 week only awards. Creating a limited feeling for such things.

Example, breast cancer award -> %10 of the price goes to charity & only lasts a week. That way you contribute to good causes and stuff and still get a nice buck or two for the site or yourself. Then in the future, if people sell it to each other a percent also goes to charity or I don't know, might be going to in depth but you get the idea.

Lot's of things can be done with this now that they are buy-able and such :pirat:

Agreed on the charity idea there too so it shows a bit is going somewhere else good too!

[Who Soup]

Economics says that price will increase if there's a limited supply but I would assume they won't increase nearly as drastic as awards that were discontinued pre 2015 as people will now buy them knowing they'll be discontinued in the future.

[Business]

I already value my awards more than most, so I won't be selling any of mine either way.

However, I do think that retiring certain donation awards will make their value stay higher. It could potentially make their prices rise to over their original value. I like this idea, but I am wondering if you would give a heads up before removing one, or would it be unannounced?

[Nate]

This would be a great feature, if would add even more rarity for awards, especially if you have ones come out every month.

[Cryptic™]

If I remember correctly I got my BTC award when 1 btc was $100. It's crazy how times have changed.

Will be picking up most of the donation awards soon before some get removed

[luke]

Would be awesome to see a bunch of awards removed that have been available for a long time (Legalize It, Benefactor, etc.) and some whole new awards released. I like the idea of swapping out every month.

[Banter.]

I love the idea of new awards to possibly replace certain donation awards, I do think once they are retired they could be made available to list of the award market.

As far as time scales go, I think there should be a cool down period before they are made available to be listed, I think it’s a shame to see anyone get rid of there awards personally but some people have good valid reasons for doing so.

Just throwing this idea out there before you retire them it would be awesome to have say Example 10-25 limited edition ones, non listable more to commemorate some of the popular ones giving them a nice rarity but still leaving the normal ones open to be listed.

[Ram]

As we see from brony if you remove some awards they are gonna gain on value. Depending on the award, they would definitely gain as 100% in value as brony did. It was 100$ for brony now he goes 200$+. For legalize it award I believe the same would happen and any other interesting or rare award. Everything depends on people and what they consider "valuable" or "cool award".

[Enzo Ferrari]

That will be an awsome idea Omniscient!
People would have more options in awards overtime due to old ones being deleted i assume you'll add new awards aswell.
Besides that it can be considered as an investments purchasing awards that are currently available to then later on sell them on the market for Bytes and then sell the Bytes for USD.

I realy vouch for this idea and i can't wait until it's official!

[Ram]

Also I just remembered we also need more of rare awards such as Fox or some top tier ones that would be worth over 1k$+. That would also be cool.

[Omniscient]

I do think once they are retired they could be made available to list of the award market.

That's my point. And also now that you must hold an award at least 6 months it should inspire members to donate for an award sooner rather than later.

[Neeeeeeeeeel.-]

And also now that you must hold an award at least 6 months it should inspire members to donate for an award sooner rather than later.

That's definitely a good point.