Wednesday, March 23, 2011

The Value of a Moment

From time to time I chat with people who are trying out manufacturing in Eve Online.  Invariably they mention the minerals they mine are worth nothing as they mined them, and therefore their value is zero or near zero, if you divide the amount of minerals mined by the minutes in an hour for example.

I'm paraphrasing here as what was actually said probably had various "lols" and shout outs to "homies" etc etc.

Figuring out the value of minerals is actually quite easy.

Just send me, Yosagi Yojimbo, everything you have that comprises of minerals in some form or another.

You don't want to do this?  Why not?  You say they have value?  Well then you've just figured out those minerals you mined are worth something after all.

The second way people value, or don't value minerals, is by some valuation of their time.

Potentially this is a self confidence issue but if you value your time at zero dollars or ISK then you're kidding yourself.

One hour in game is an hour you'll never relive, ever.

Assuming that during an hour in game you will perform some sort of ISK making venture then that hour has a value.

Various activities in Eve can earn different amounts in that hour,  if your capabilities both in and out of game could earn 500 million ISK per hour, but the activity you actually perform only earns 350 million ISK per hour then you are losing 150 million ISK per hour.

Many reasons could exist for this gulf, perhaps you've done the 500 million ISK per hour activity so much you'll "rage quit" unless you can get a break, this is a valid reason and forms part of a stress management strategy.

Remind me to form a Yoga franchise in Eve one we finally get Walking In Stations come 2014.

Kidding.

But not about the Yoga franchise.

Getting back to time valuation, it's a personal thing.  I value my time in game, even if I'm just logged in and using the In Game Browser (IGB) to type this entry into the blog as it's relaxing compared to what I normally do.

Diversification is the key, have many money making schemes in Eve, two of the best passive ways at the moment are Planetary Interaction (PI) and the research agents who will "sell" you datacores which you then sell for ISK.

Don't think for a moment your time or minerals are worth nothing, this will not maximise your ISK per hour potential.

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