falmear
05-25-2013, 05:10 PM
One thing I get asked a lot is if someone should open their locked crates. People usually employ the strategy, if I open more then there is a better chance of getting something. But as with rolling dice every chance is separate from the previous. So when making decisions like this I like to look at the opportunity cost, if you are not familiar with this concept read this:
https://en.wikipedia.org/wiki/Opportunity_cost
So the opportunity cost of locked crates is what you could sell them at and the plat you could use to convert to gold. So it breaks down like this:
1) 1 Locked Crate could be currently sold for around 20k.
2) 15 plat equals 15000 gold in game
So lets say you have 50 crates.from farming.
50 crates * 20,000 (selling price) = 1,000,000 gold
50 crates * 15,000 (15 plat per crate) = 750,000 gold
So the opportunity cost for opening 50 crates is 1.75 million gold. So for you to just break even whatever you get out of 50 crates has to be worth 1.75 million gold or more, otherwise you will have lost money. So the next time you decide to open any crates, do this quick math. Then decide if you want to open the crates or not. Then compare what you get out of the crates to what you could have sold them for and converted that plat to gold. I am not making any judgments on opening crates and people come up with all kinds of reasons to justify their actions one way or another. But for me when I am trying to make a decision on doing something where I am may make or lose money, I find it helpful to look at the opportunity cost to help me make that decision. The other thing that should be evident is that the more crates you open, the more your opportunity cost goes up so the bigger your return has to be.
https://en.wikipedia.org/wiki/Opportunity_cost
So the opportunity cost of locked crates is what you could sell them at and the plat you could use to convert to gold. So it breaks down like this:
1) 1 Locked Crate could be currently sold for around 20k.
2) 15 plat equals 15000 gold in game
So lets say you have 50 crates.from farming.
50 crates * 20,000 (selling price) = 1,000,000 gold
50 crates * 15,000 (15 plat per crate) = 750,000 gold
So the opportunity cost for opening 50 crates is 1.75 million gold. So for you to just break even whatever you get out of 50 crates has to be worth 1.75 million gold or more, otherwise you will have lost money. So the next time you decide to open any crates, do this quick math. Then decide if you want to open the crates or not. Then compare what you get out of the crates to what you could have sold them for and converted that plat to gold. I am not making any judgments on opening crates and people come up with all kinds of reasons to justify their actions one way or another. But for me when I am trying to make a decision on doing something where I am may make or lose money, I find it helpful to look at the opportunity cost to help me make that decision. The other thing that should be evident is that the more crates you open, the more your opportunity cost goes up so the bigger your return has to be.