“What makes a good economics expert? If i were a bad economics expert, i wouldn’t be sittin’ here, discussing it with ya now would I?”
@93bd9
4 жыл бұрын
lol
@randysumapig6278
4 жыл бұрын
SCRUMPY *Drinks* Demo Ref! *Passes Out*
@ea-id8rm
4 жыл бұрын
Nice
@smartestmoronx19
4 жыл бұрын
One overleveraged bank, one wayward decrease in federal interest rates... ONE! ERRANT! TWITCH! ... AND KABLOOEY!!!
@dumpsterfire4269
4 жыл бұрын
*_Need a dispenser here_*
@jerma984
4 жыл бұрын
The Virtual Economist is really stepping up his game here.
@TheVirtualEconomist
4 жыл бұрын
I like this comment
@jerma984
4 жыл бұрын
TheVirtualEconomist I like you
@Poffean
4 жыл бұрын
@@TheVirtualEconomist recognize me please
@ruthswann88
4 жыл бұрын
Not so virtual anymore
@goegr2986
4 жыл бұрын
@@TheVirtualEconomist ill be honest his explaination is perfect and maybe you could make a video about this topic
@dylanhill1512
4 жыл бұрын
"Everything was better when keys were 3 ref."
@Le_Corsaire
4 жыл бұрын
You mean 2.55?
@LimeCultivist
4 жыл бұрын
The old days of 2.33
@pickelz1882
4 жыл бұрын
i remember back in 2013 or so, keys became 4.33 refined, and people were outraged. now they are more than 12x that
@grzegorzbrzeczyszykiewic3338
4 жыл бұрын
perenne_ inflation in a nutshell
@LucarioredLR
4 жыл бұрын
4 ref keys veteran here
@needausernamesoyeah
4 жыл бұрын
3:45 the two are trading a ham shank for a holy mackerel. Those two are no coincidence.
@justronji9936
4 жыл бұрын
I mean, they're food
@swimdog
4 жыл бұрын
@@justronji9936 they are also weapons in the games lol
@justronji9936
4 жыл бұрын
@@swimdog i know that. I played this game for 7 years. I was juat joking
@roke3526
4 жыл бұрын
The memes...
@emeraldworldlp8828
4 жыл бұрын
@@roke3526 bruh 5 minutes ago? Nice
@hungryhungarian6880
4 жыл бұрын
He honestly seems like a medic main
@fatassthebig
4 жыл бұрын
4 items for a fuckin solemn vow
@kitcarson2776
4 жыл бұрын
Agreed
@Peztllence
4 жыл бұрын
Yeah, that's about how I would trade
@mateuszodrzywoek8658
4 жыл бұрын
8 jarates and some scrap just for a statue
@ADSaaron
4 жыл бұрын
I could see him running mini sentry engi.
@evelynswat1106
4 жыл бұрын
why would you even want the solemn vow that much
@peep3879
4 жыл бұрын
lmao
@loll9746
4 жыл бұрын
@@peep3879 my gole is benith you're understanding
@Ozionian
4 жыл бұрын
haha statue go bonk
@surrk1057
4 жыл бұрын
It sucks
@smallfryenjoyer
4 жыл бұрын
@@surrk1057 bonk
@greed0599
4 жыл бұрын
"Economics can be fun" Yeah I wasnt saying that during the crate depression
@Bonzane
4 жыл бұрын
I was 😎
@sushirofl516
4 жыл бұрын
I mean for the low price of 2.50 and some cents for the crates you could get all the unusual you ever desired. I would call this a win.
@Bonzane
4 жыл бұрын
Sushirofl unfortunately the cases quickly costed $4 for the worst ones, $16 for a series 1. :(
@life4trinity
2 жыл бұрын
Imagine Valve at their HQ
@Cynderfan35
Жыл бұрын
as a someone who saw that depression.. it was as insane as the real great depression, minus the people jumping from windows due to stuff they had, loosing all value.
@TheBlueboyRuhan
4 жыл бұрын
One of us One of us...
@DRMJ22
4 жыл бұрын
One of us
@okudatboi328
4 жыл бұрын
One of us
@---lf5rf
4 жыл бұрын
One of us
@legendplays7968
4 жыл бұрын
One of us
@moroni8299
4 жыл бұрын
One of us
@ThePelum
4 жыл бұрын
Jacob Rickabaugh artificially inflates the price of the solemn vow for his own personal gain
@mr_mist7891
4 жыл бұрын
Do you have any duped solemn vows?
@Killerbee4712
4 жыл бұрын
@@mr_mist7891 *soundsmith intensifies*
@novadome
4 жыл бұрын
I’m looking to buy a duped solemn vow send me a trade offer
@404found00
4 жыл бұрын
Do you take duped shovels for that?
@poothathere4011
4 жыл бұрын
Admin: "If it's under a key, don't advertise in voice chat, please" Ok, I'm looking to buy a solemn vow for one key, send me a trade offer
@tallbroadcast
4 жыл бұрын
such a great presentation. he should've talked about buds though, that would have been interesting
@dapperly6787
4 жыл бұрын
Buds are dead tho :/
@D.Dragon
4 жыл бұрын
Buds being a dead currency is why they make an interesting case study - keys and ref are still alive, while buds fell out of favour.
@dapperly6787
4 жыл бұрын
Yea I guess
@orangy57
4 жыл бұрын
It would be interesting to see this from an economist person, since what normally was used as currency lost all its value with a change in the system
@TheJespeon
4 жыл бұрын
The old "currencies" in general are quite interesting. It wasn't just keys and... I guess you could sorta count golden pans as some mega-high tier currency at times nowadays, but it's not like the traditional metal -> keys -> bill's - > buds economy that lasted for a while. No doubt it was nicer to just click on 2 buds to put them in that trading window as opposed to sitting there clicking on like ~60 keys or something, so it was nice while it lasted. If anything I'm surprised it lasted as long as it did, as everything else ultimately had its value defined by how valuable it was in comparison to keys. Keys were both a currency in themselves AND the "gold standard" of the economy itself.
@dumpsterfire4269
4 жыл бұрын
Me explaining to my mom why she should buy me keys:
@kaiserairsoftentertainment1129
4 жыл бұрын
If you can make her money back then it is a good idea
@starrykailani
4 жыл бұрын
I buy from the market
@Waffle4569
4 жыл бұрын
@@kaiserairsoftentertainment1129 The house always wins
@IDFKLMAO
4 жыл бұрын
Mom: *Gets you a lock and key*
@aiksi5605
4 жыл бұрын
@@Waffle4569 You've gone and busted my good man *Thanks for playing*
@williamcashin
4 жыл бұрын
Business Teacher: Ok class let's talk about economies! TF2 Player: *The Expert*
@Politictrolerandenthusiast
4 жыл бұрын
True
@h3ftymouse
4 жыл бұрын
ngl CSGO's economy is pretty complex too, skin wear adds a whole other dimension to it
@Jester4460
4 жыл бұрын
@@h3ftymouse ya but did can do have multiple great depressoins
@viking6917
4 жыл бұрын
LemonLord CS:GO has patterns, floats, souvenirs, doppler phases, knives, gloves, foils, holos, I could go on. Whats your point? Both are complex but in different ways
@octo6472
4 жыл бұрын
*Tf2 Fanfare Plays* *Meet the Trader*
@c.e1404
4 жыл бұрын
This is what people on Trade Servers think they sound like when negotiating
@DeityHorus
3 жыл бұрын
lmao
@DRMJ22
4 жыл бұрын
Can’t wait to see the Solomon vow quadruple in price
@Zoom-xb4yd
4 жыл бұрын
Lmao what are you doing here
@DRMJ22
4 жыл бұрын
Zoom I am doing your mom
@tfwthewhen
4 жыл бұрын
@@DRMJ22 can i join
@azarashi9967
4 жыл бұрын
@@DRMJ22 me too!
@DRMJ22
4 жыл бұрын
Everyone’s invited
@guscox9651
4 жыл бұрын
Me, a team fortress 2 player, swelling with pride even though I own 1 refined and have 2 hats
@Snowissnowier
4 жыл бұрын
1 hat and 2 refined
@Frog-ux5qu
4 жыл бұрын
@@Snowissnowier Is your hat a stout shako
@matteblack5805
4 жыл бұрын
I've been playing and paying for years. I only have one unusual. Its not what cosmetics you have its all IF YOU CAN KEEP MY CART MOVING.
@h4724-q6j
4 жыл бұрын
I'm exactly the same.
@cloud__zero
4 жыл бұрын
ive been playing since 2015 and only got unusuals very recently
@Lapeno456
4 жыл бұрын
This is literally me as a kid explaining my parents how i made 50 dollars in the game
@texteel
4 жыл бұрын
did you make 50 dollars? Or did you make items worth of 50 dollar? Could you sell the items you acquired for money, that is transerred to your bank account, ready to be withdrawn?
@karthik-lw7zd
4 жыл бұрын
texteel dude it’s not that deep
@subtlewhatssubtle
4 жыл бұрын
@@texteel Yes, there are third-party sites which allow the transfer of in-game items between players for payments to secured Paypal accounts (such as those with direct connections to an existing bank account). So one theoretically could make actual money trading in TF2. The beauty is that no one cares about this kind of real-world trading because the items involved confer no statistical benefit, and therefore no power or advantage can be gained by spending $200 on nice hats.
@egg5474
4 жыл бұрын
@@texteel The money is quite real my friend, there are some players who can make $500 a week trading, but that's the top 0.0001% of "unusual" traders.
@texteel
4 жыл бұрын
@@egg5474 I wasnt saying its impossible, I was asking for clarification
It’s a wonderful quirk of economics: that the most useful items in the game (weapons) is less valuable than something that has no real use (cosmetics). You can’t rocket jump with a gibus.
@Monarch_Prime
4 жыл бұрын
Ikr but cosmetics are used as status symbols and not weapons
@droideka1890
4 жыл бұрын
Jacobus Kurnia Kaalapaking A.K.A Lord Promodus There’s a metaphor to be found somewhere in this comment thread, I’m sure...
@sabnock31
2 жыл бұрын
Little late here. Weapons are less valuable because they are the most useful. Everyone wants them, everyone crafts them, everyone buys them. Cosmetics are useless and here just a show of wealth. It's like toilet paper vs jewelry. Toilet paper used by everyone, that's why it should be cheap and easily distributed (ofcourse there are some that more expensive). Jewelry used to change your look and show that you have money.
@theotv5522
4 жыл бұрын
"Hundreds of dollars worth of real money" *worried laughter in golden pan and burning Team captain's price*
@deathtothecrows7933
4 жыл бұрын
*hides my unusual scattergun*
@mitchellblake1475
4 жыл бұрын
Good thing he didn't point out the coffin kit. 1500 keys is nuts lol
@theotv5522
4 жыл бұрын
@@mitchellblake1475 You can buy a decent motorbike with a single gold pan lol.
@scooter9537
4 жыл бұрын
@@mitchellblake1475 its a misc which automatically makes it worth a lot. now add to the fact it was a glitched misc that was never supposed to exist as an unusual.
@fatassthebig
4 жыл бұрын
Burning team captain dropped to like 140 dollars didnt it?
@DarknessAndEvil69
4 жыл бұрын
Wow I finally understand the basics of the TF2 Marketplace, all it took was a decade and a TEDTALK
@James-qn3wi
4 жыл бұрын
I don't even care what anyone says. This is a great video. He's explaining in great context of the TF2 economy by a crowd who has no idea that this game exists. Coming from an Engineer main.
@roke3526
4 жыл бұрын
Need a dispenser here
@James-qn3wi
4 жыл бұрын
Kbro chico de 16 Nah
@roke3526
4 жыл бұрын
Freaking unbelievable
@spectruum
4 жыл бұрын
Gentlemen
@James-qn3wi
4 жыл бұрын
CatBot SPAH!
@shades8852
4 жыл бұрын
You know it’s funny, the tf2 economy was better than the American economy when it was created (2009 reference)
@dubl33_27
4 жыл бұрын
well technically it wasn't because as he said, it was tied to the dollar.
@shades8852
4 жыл бұрын
@@dubl33_27 yeah i just thought it funny
@refusingtoconform
4 жыл бұрын
We just gonna glaze over the fact that TF2 generated more money than Greece at one point.
@BallsRollProjects
4 жыл бұрын
@@refusingtoconform the greek inside me was just murdered
@refusingtoconform
4 жыл бұрын
@@BallsRollProjects Are you channeling the Greek GDP?
@sirlackhuysfox2971
4 жыл бұрын
Why is everyone getting this recommended to them now? Not that I'm complaining but...
@r.p3728
4 жыл бұрын
its been a year since the crate depression
@urdeadnotbigsuprise7439
4 жыл бұрын
Yeah ı'm wondering the same thing
@laurispeterisvejs4007
4 жыл бұрын
Yea exactly
@OrigionalCigarette
4 жыл бұрын
Because its TF2.
@egg5474
4 жыл бұрын
Massive boom in key prices now at 57- 58 and real world prices at an all-time high because a lot of CS:GO players ended up migrating to TF2 keys as a currency because of the SCM ban now in place, if you're thinking of cashing out now is the time to do it, I did at the $2.20- $1.99 peak.
@sleepyavenue5572
4 жыл бұрын
Watching this at 2 am got me feeling different. Watching a ted talk of one of my favorite games while being half awake was quite the trip
@sxyxrii4281
4 жыл бұрын
I also just finished watching this at 2 am lol
@introman1854
4 жыл бұрын
PEASENTS! I WATCEH THIS AT 3 AM. Plz god let me sleep
@Luna-gn1ne
4 жыл бұрын
Think it’s better watching this while drugged to sleep
@cookritz6529
4 жыл бұрын
This man has balls of steel to go and speak of the tf economy as a serious subject on a TEDx event
@flytrapYTP
4 жыл бұрын
What do you mean, it's a case study in microeconomics for a TEDx event.
@Ozzianman
4 жыл бұрын
tfw a TedX event is suddenly a exam.
@SubZeroDestruction
4 жыл бұрын
Interesting to see a video about the economy on Ted, but it's also hilarious how it's recorded as if it was made years ago...
@kevinofthesharingan9600
4 жыл бұрын
the slideshow is so basic and the camera is static. i remember the production quality of these videos being significantly better
@fatassthebig
4 жыл бұрын
Wasnt this made in 2019? Thats kinda years ago since the keys were 44 ref
@clemmu
4 жыл бұрын
@@kevinofthesharingan9600 This is a TEDx Talk, not a normal TED Talk. TEDx conferences are more local, and are organized independently by a community, that's why they vary so much in quality and subjects. A normal TED Talk is held at an annual conference and requires a lot more credentials to get in.
@simrensihota
4 жыл бұрын
He should’ve started the ted talk with “Yo, what’s up”.
@persolus689
4 жыл бұрын
um.. i-i don't even know where to start with you. i mean, do ya even know who you're talkin' to?
@gibbous_silver
4 жыл бұрын
BONK
@uraccountcrashed8845
4 жыл бұрын
Basically, kind of a big deal.
@MM-vs2et
4 жыл бұрын
no commas in Boston, more like "Yo what's up"
@Walt-Bradley
4 жыл бұрын
Somebody bought a vr headset by flipping crates
@kyo666oyk
4 жыл бұрын
I know someone who bought a car from trading. Not a brand new sports car, but a decently new, nice, working vehicle. As he said in the video- It's a huge investment of time or money to get in to that kind of trading. You have to really enjoy doing it to make it worth the time or you would be better off just getting a second job. :D
@arieroskam4000
4 жыл бұрын
And others have made literal hundreds of thousands of dollars through trading over the years.
@Jester4460
4 жыл бұрын
Fun fact if the best tf2 colleter where to sell the stuff that has a standard vaule he could buy the house I live in which oh boy it's gonna cost allot
@etzstyy6301
3 жыл бұрын
@@kyo666oyk like the guy who traded a paperclip to a house?
@august101wheatley8
4 жыл бұрын
Even without the context of tf2, it still proves a great explanation of it's digital economy and how it's compared to an url economy.
@sycophantic0
4 жыл бұрын
"Url economy" big brain moment
@minimixe
4 жыл бұрын
lmao
@sycophantic0
2 жыл бұрын
@@stoppit0 he meant real economy and he horribly misspelled
@KIgaming.
Жыл бұрын
@@sycophantic0 "horribly misspelled" he meant to say irl. the u is next to the i.
@sycophantic0
Жыл бұрын
@@KIgaming. you right
@cmag19
4 жыл бұрын
This man really just walked out here and talked about the TF2 economy for 15 minutes. Absolute legend.
@node9221
4 жыл бұрын
if you told me a year ago that i would be watching a ted talk about the tf2 economy, id eat a bowl of butter and do a backflip
@urdeadnotbigsuprise7439
4 жыл бұрын
Yet here we are...
@randumderf9777
4 жыл бұрын
Eat the bowl of butter and do a backflip
@swahilimaster
4 жыл бұрын
Don't pretend that you don't already do that once or twice a week.
@khan-xr6jz
4 жыл бұрын
I had to read this soldiers voice
@oonflore
4 жыл бұрын
khan hello frost god boi
@CaiGuy64
4 жыл бұрын
"Limited inventory space" *Laughs in obscene amount of backpack expanders*
@gibbous_silver
4 жыл бұрын
*Chuckles in half my inventory empty*
@jpthepsycho1467
4 жыл бұрын
Whats next, Uncle Dane talking about quantum mechanics? SoundSmith talking about more economy? LazyPurple giving us a history lesson, or Array Seven telling me about medical practices....and Bearded Expense just yells at everyone
@Deboniako
4 жыл бұрын
While delfy just lays c4s at the presentation
@droideka1890
4 жыл бұрын
And Germanpeter tells us that life it’s just another game he has made.
@Jester4460
4 жыл бұрын
What will pyro Joe do wait..
@sp_chronom
4 жыл бұрын
my dream.....
@peepersleeper3834
4 жыл бұрын
Big Joey slap nuts talking about how to slap nuts while being big?
@TheAfricanRedHead
4 жыл бұрын
When he mentions the refined metal problem ;)
@t6nkaaa
4 жыл бұрын
He had some good amount of researching ngl
@brown-eyedcheese5440
4 жыл бұрын
You were exactly the person I thought of when I saw this video
@quesamo
4 жыл бұрын
Alright, shush now
@felipevillalba9311
4 жыл бұрын
@@jawknee4088 he said that he play tf2
@Plutoniumcontrolrod
4 жыл бұрын
to4st3d_t0ast in sure he plays tf2 and is probably active in trading
@cristian6035
4 жыл бұрын
As a economics graduate and TF2 being my favorite online game, he sure hit the nail on everything.
@jacksonbeeftown6908
Жыл бұрын
How's your career doing now?
@orpheus9098
4 жыл бұрын
I like how he used the savaged mann co crate, which is worth 25 keys for some of the less used strange weapons
@MGSTube78
4 жыл бұрын
Valve should hire this guy to be their economist over the TF2 economy.
@spectruum
4 жыл бұрын
Valve has barely anything to do with the economy and they dont just hire random people, this way they could hire lots of community creators but it would not be profitable as they have to pay all of them and they can just stop working on tf2 eventually.
@raforther
4 жыл бұрын
Yanis Varoufakis, rings any bells?
@exotixzamateurva8957
4 жыл бұрын
@@spectruum Valve is the richest gaming company in the world, and with only 100 or more employees, they could live to spare a couple of bucks
@twelvethousandths1698
4 жыл бұрын
@@exotixzamateurva8957 As Valve has said countless times already, they are not a company driven to generate more cash - they already have enough of that - but to make giant innovations in the field of videogames and software development. We TF2 players must not simply complain about Valve not doing anything with the "cash cow" they are sitting on, but bring forth new and never-seen-before ideas that will stimulate Valve to update and experiment on our beloved game.
@exotixzamateurva8957
4 жыл бұрын
@@twelvethousandths1698 I agree, and I believe having a professional economist running the prices for TF2's trading economy would be a great thing for them, among innovating other things.
@yume5338
3 жыл бұрын
This is actually a really comprehensive way of explaining the TF2 economy to new players.
@bludanoob6799
4 жыл бұрын
The vid was uploaded in 2020 but looks like it was recorded in 2001 on a flip-phone.
@wrangler5093
4 жыл бұрын
It's non profit so they prob went minimalist
@Nathan_7978
4 жыл бұрын
@@wrangler5093 tru
@jakobhere620
4 жыл бұрын
Me after I buy a strange for 5 ref and sell it for 6
@derkommissar4986
4 жыл бұрын
Stonks
@starlot3712
4 жыл бұрын
Hol up
@iamvan7243
4 жыл бұрын
I’m gonna do what’s called a big brain move
@stormie93
4 жыл бұрын
I usually get items from auction for 5 and sell it for 5.11
@JoaoPedro-ps8lk
4 жыл бұрын
what kinda strange goes for 6 ref
@chrispy2087
4 жыл бұрын
"its an economy I personally have a lot of experience with" He could be anyone of us
@jackmoseley4959
3 жыл бұрын
He could be you!
@tarquinioprisco8459
Жыл бұрын
He could be me!
@Cynderfan35
Жыл бұрын
@@tarquinioprisco8459 he could even be *boom* "whoa whoa whoa!" "what? it was obvious, he is the red team economy's expert! watch.. you'll see papers spill out from his pocket any second now.. AAAAANY second now. See paper! no wait.." "so we still got a problem.." "BIG problem. Alright.. who's ready to go to find the economy's expert?"
@TheJespeon
4 жыл бұрын
Very interesting presentation! Haven't seen a more up to date look at it from a perspective like this in a while, especially not one that touched upon the crate depression as well.
@pitterpatter4303
4 жыл бұрын
Need me some more TED talks about videogame communities. Things like reward systems, codes of honor, player interactions and relationships, and even cultures that different genres have are both very different from yet also reflective of the real world
@Xman34washere
4 жыл бұрын
It was normal until the last 3 words "Team Fortress 2"
@Deboniako
4 жыл бұрын
After 9 years in development
@GoodieM8
4 жыл бұрын
Deboniako hopefully it was worth the wait
@Guing1
4 жыл бұрын
Goodie Thanks, and have fun.
@StopShot86
3 жыл бұрын
My favourite class is the spy
@rougenarwhal8378
4 жыл бұрын
IT IS GOOD DAY TO BE NOT TED POW YOU ARE TED I AM TED
@thechatero8681
4 жыл бұрын
Heheheheheh. 'Conga spy' The heavy is ted?
@ResidentEvilFan1123
4 жыл бұрын
Sandwich. I am TED
@overlord-6644
4 жыл бұрын
Justin Haley why is the heavy TED?
@KhrektheDrek
4 жыл бұрын
Shhh you are Ted
@OlliOtter
4 жыл бұрын
OK *clips into ground*
@tampsin
4 жыл бұрын
really interesting video, now i can explain tf2 trading to irl people more easily lol
@Freakever2000
4 жыл бұрын
of course i find you here
@rustyfisher2081
4 жыл бұрын
Is this like a rival meets rival moment?
@fatassthebig
4 жыл бұрын
Your fov settings are dimented but yes
@Jackern465
4 жыл бұрын
How is this real
@AshleySOAD
4 жыл бұрын
yup
@dioxide39
4 жыл бұрын
Nah man he just talking to a bunch of empty chairs in an empty room, totally not real
@Jessie_Helms
4 жыл бұрын
Is what real? The TF2 economy? Yes. Look up “Virtual Economist” on KZitem.
@fatassthebig
4 жыл бұрын
@@Jessie_Helms he knows about tf2 he makes tf2 videos he ia talking about tf2 economy explained on tedx
@CC.CALAMITY
4 жыл бұрын
its the exact same as bitcoin, just virtual currency
@jamesflowers1295
4 жыл бұрын
I, to this day, get unsolicited trade requests for my Bill's Hat. It annoys me so much that I bought a nametag and called it the Not 4 Sale.
@jamesflowers1295
4 жыл бұрын
I mean seriously, L4D2 goes on sale regularly. You can get the hat cheaper by purchasing the game rather than just the hat from the marketplace.
@ghostrangerz8273
4 жыл бұрын
@@jamesflowers1295 wait you got a bill hat? I and everyone else got an Ellis hat!
@iamthewalrus2659
4 жыл бұрын
it doesn't drop from buying L4D2 anymore, that's why it costs several keys
@NeostormXLMAX
3 жыл бұрын
@@jamesflowers1295 no you can't. looks like you never did your research, the bills hat were only given to people who PREPURCHACED the original left 4 dead YEARS ago lol. this was literally 10 years ago no one can acquire bills hats anymore which is why its worth so much
@the_corndog
4 жыл бұрын
can't believe pyrojoe actually got a TED talk damn
@paulollarsabaiii9824
4 жыл бұрын
Seeing this in your recommended at 7:00 AM hits different... Jokes aside, this is a really good presentation! An excellent insight into how our community has adapted the economy, especially after the Crate Depression
@quesamo
4 жыл бұрын
As a TF2 trader, this was very interesting to watch. TF2's economy really is fascinating even if you don't care about the game. But I am still left feeling like there's a lot more to cover lol
@menaatefadly
Жыл бұрын
Unfortunately there is too much to cover I bet so he just took in the essential and omitted any extra confusing stuff that don't add any more significant data while showing the very basics I think he isn't going in to fully talk about it but to take it in a much more serious manner
@Ikcatcher
3 жыл бұрын
It’s genuinely bizarre how we live in an age where video games have their own economies
@junilog
4 жыл бұрын
I can't believe I just 100% understood an economy market study
@Poffean
4 жыл бұрын
It's 6AM and i'm watching some guy talk about the tf2 economy
@CeciliaClemti
4 жыл бұрын
same
@brown-eyedcheese5440
4 жыл бұрын
Me but the next day
@mightygerot4427
4 жыл бұрын
Who would of thought TF2 would be in a Ted, not me
@paulollarsabaiii9824
4 жыл бұрын
TedF2
@chuck7790
4 жыл бұрын
TEDx, not TED. you just pay a fee and talk about whatever you want. That's why there are so many bs tedx videos on youtube
@robo-
4 жыл бұрын
would HAVE* thought, hence "would've"= contraction of"would have"
@dopey473
4 жыл бұрын
HOW AM I ONLY LEARNING NOW THAT THERE'S AN ACTUAL TED TALK ON ONE IF MY FAVORITE GAMES?!
@Falador321
4 жыл бұрын
I'm surprised nobody has done research on Runescape's economy LOL. I know friends that are now investment bankers/economists because they loved the GE.
@toyotatacoma1616
4 жыл бұрын
Oh people absolutely have. When Venezuela collapsed some dudes actually made livings on RuneScape
@Projolo
4 жыл бұрын
@Fa Mulan they kill the botters
@Golden_Magikarp
4 жыл бұрын
who remembers when buds crashed back in 2014 and everyone lost their minds
@Kicktugo55
4 жыл бұрын
Good old days
@Jester4460
4 жыл бұрын
@@Kicktugo55 RIP economy
@Cneqq
4 жыл бұрын
cashed out before than, came back and saw buds for like 6 keys when they were like 30 a few months before lmao
@SpaceSuit
4 жыл бұрын
Great Presentation, Would Love To See Him Do A Nothing To Unusual Series Edit: Have To Agree A lot With What He Said At 15:00
@nikolaswithak
4 жыл бұрын
I burst out laughing when he brought up the crate depression, just the idea of the TF2 community being presented in a TED talk about economics is hilarious.
@reptilianinmateusz8533
4 жыл бұрын
give this man a nobel prize
@clxvii_
4 жыл бұрын
Give this man a saxxy!
@Jessie_Helms
4 жыл бұрын
This was truly fascinating. I enjoy learning about economics and I’ve been playing TF2 for around 4 years. This reminds me of how epidemiologists studied World of Warcraft when there was an accidental “plague” (any player who came in contact with another player already “infected” would start taking damage. At higher levels it was minimal, but low level players could die in seconds). (I still sometimes kick myself for missing the Create bug. I worked late and then went straight to sleep).
@victorrsb4629
4 жыл бұрын
bad sound but good presentation
@forgettableaccount5855
4 жыл бұрын
Ah yes. A TED Talk from january 2020 can't decided not to be in HD. That's what I love about TED. You never know if it'll be in 8K or 360p.
@GoldTheAngel
4 жыл бұрын
If you told me TF2 would be a in a TED talk 5 years ago, I would've bet my entire inventory that wouldn't have happened. Well look at this now.
@bugs.nobunny
4 жыл бұрын
i love the idea of a bunch of CEOs and executives sitting around a conference table, listening to this guy talking about a game about hats and being like "yeah, makes sense"
@zainahmed2076
4 жыл бұрын
9:50 Keys are 58 refined now....
@Arked
4 жыл бұрын
Medic!
@bodacious44
4 жыл бұрын
Dear god...
@stenolepis5252
4 жыл бұрын
Ah yes, *inflation*
@eX1st4132
4 жыл бұрын
inflation AND price gouging
@lemons1559
4 жыл бұрын
Wait what? I checked 4 days ago and they were 44ref. Did I check an out dated source?
@grimtygranule5125
4 жыл бұрын
Imagine how badly the TF2 economy would implode if keys became craftable with say, just three refined metal. It would probably restablise by 2023 but just think about the short term.
@404found00
4 жыл бұрын
If that happened I could probably get 3 or 4 keys right now.
@tarook456
4 жыл бұрын
"this Ted talk was sponsored by marketplace dot tf, marketplace dot tf the number one trading-"
@МагдалинаКовачка
4 жыл бұрын
PyroJoe RefEreNcE
@Cneqq
4 жыл бұрын
I was a massive trader back in 2011-2012 and I believe the time I spent in it was very very valuable in overall shaping my sense of value and overall economical understanding. There's not a whole lot of places in the world you can get hands on experience with the purest form of barter systems and it was a very interesting time.
@silverrobo2767
4 жыл бұрын
As a veteran tf2 player and an Economics student, I am content.
@afrizaldaniswaraali8980
3 жыл бұрын
*Content, contempt is being scornful/devaluing of someone/something
@silverrobo2767
3 жыл бұрын
@@afrizaldaniswaraali8980 thank you kind sir
@chromakeyminor7858
4 жыл бұрын
It's official Jacob; you're a hero in the eyes of all TF2 players and we salute you.
@xkrulis
4 жыл бұрын
Let be honest, we clicked it because of TF2
@minimixe
4 жыл бұрын
yep
@Christian23242
4 жыл бұрын
clicked for TF2, stayed for Economics
@redbird901
4 жыл бұрын
no one in the comment section is an economist
@seemoore9175
3 жыл бұрын
lets be honest your just trying to get likes
@erjhg-w5k
3 жыл бұрын
Yes :V
@pineapplescuddleduck
4 жыл бұрын
Dude this is so awesome cant believe there was a ted talk about it
@jgen3026
4 жыл бұрын
He is actually trading all that for a solemn vow
@shanty6953
4 жыл бұрын
Had so much fun playing and getting all those cool items I wanted, like the mini turret, turret controller thing, spicle, soldier parachute, demo melee charge, pyro degreaser mailbox combo. Lots of fun
@Phnx8
4 жыл бұрын
the first jack in key prices was due to the introduction of the steam market, being able to directly sell in game items and recieve money for it to be able to purchase games. in the beginning after you bought a key your options were pretty much only to sell it through paypal or other online platform, which introduces potential scams, chargebacks and taxes so not really profitable. but through the steam market selling in game items became profitable, and acquiring and selling keys became to profitable to craft all your weapons to metals and buy keys with them. this caused the prices to go up, because keys became so much more popular with the steam market.
@gyroninjamodder
4 жыл бұрын
You still have to pay taxes to the IRS (assuming if you are American) when you sell something on the Steam Market.
@ugothexed
4 жыл бұрын
This man is the bridge that connects gaming and reality
@agent3c
4 жыл бұрын
when i tried to get into the tf2 economy I tried to talk about these kinds of concepts to people but i always felt like they never really understood or cared. it's nice to know economists are just as fascinated as me
@generalsynnacle23
4 жыл бұрын
For once, KZitem's random recommendations actually provided gold. Everything about the speech was understandable to newer crowds and players, without overwhelming them about the more specific parts of the trading community, such as event-exclusive Unusual effects, Unusuals also being Stranges, having Halloween Spells and Killstreaks on them, etc. Fantastic job, and a sincere thank you from us, the TF2 community, for highlighting one of gaming's most historical and influential trading markets that's lasted over 10 years since the game was released.
@1chaplain
4 жыл бұрын
Dammit, i should've joined in during the crate depression
@cummybot2012
4 жыл бұрын
Same but at the time I felt like I would crash the economy or something
@Mate_Antal_Zoltan
4 жыл бұрын
@@cummybot2012 nah, everyone was crashin it, by the time some of your unusuals would have sold Valve would have made them untradable, and they only let you sell your first unboxed unusual after they trade blocked the rest, plus you could refund your keys and crates
@jackmoseley4959
3 жыл бұрын
@@Mate_Antal_Zoltan The depression, in the end, caused the tf2 unbox simulator to add a custom crate depression mode, allowing you to customise the way YOU crash the economy,
@Mate_Antal_Zoltan
3 жыл бұрын
@@jackmoseley4959 there's a TF2 crate clicker??
@life4trinity
2 жыл бұрын
FeelsBadMan
@silmeerman9471
4 жыл бұрын
The fact i already know all of this but now know how it works more in-depth makes me a tad proud
@EnterJokesHere
4 жыл бұрын
8:13 A problem shows on the page titled “A Problem Emerges”!
@dr.practisemedicine9723
4 жыл бұрын
6:05 "Buying things for the sole purpose of showing your wealth..." Me, after playing TF2 for 8 years and not having a single unusual: Yeah man, friggin' unusuals, give 'em what they deserve.... *crying noises*
@internetmaks5476
4 жыл бұрын
1:15 dude got scammed
@tadziu2400
4 жыл бұрын
Yeah he got scammed for like 0.006$
@Its_Sebas_Yk
4 жыл бұрын
I've been watching Uncle Dane to learn how to play Engineer why am I now being recommended TED Talks
@jackmoseley4959
3 жыл бұрын
It’s destiny. The universe wants you to become a trader.
@Safeboot
4 жыл бұрын
It's 2020 and this video is formatted in 4:3
@clarklacuesta
4 жыл бұрын
why does this not have many views
@overloaded4009
4 жыл бұрын
You know youve played tf2 for too long when you start doing ted talks about it.
@moth3991
4 жыл бұрын
Just got my first unusual from trading, this is so epic
@jacoblewis8664
4 жыл бұрын
Congrats! That's quite impressive!
@timet0rekt
4 жыл бұрын
Gratz m8!
@lev7509
4 жыл бұрын
For what did you get it? Just curious if I can do something similar.
@life4trinity
2 жыл бұрын
Epic gamer moment
@dantegamer1
4 жыл бұрын
Ask the rocket jumping soldier in a robot hat how to run your economy.
@ThenameisMarsh
4 жыл бұрын
The Crate Depression sucked for people with lots of unusuals, but for someone like me who had none I had nothing to lose and everything to gain. I had a handful of the bugged crates in my inventory so I sold a bunch of them, used the profits to buy several keys, and opened my remaining bugged crates. I broke even and had 5 new fancy unusuals. When Valve made their decision on how to handle the crisis I sold my one tradeable hat for $60 and used that money to buy Doom Eternal. Some people lost a lot during the crisis, I got a 4 free ususual hats and a copy of Doom.
@maxtized5422
4 жыл бұрын
The main problem with this kind of monentary economics perfectly demonstrated: works in a virtual world with virtual markets where goods and their value do not need any real life work of real humans to produce.
@trinitron384
3 жыл бұрын
I spent a lot of time in the TF2 community back between 2017 - 2018... It changes you. I can't put my finger on it, but it kinda does. I left it feeling kind of worn out from what I experienced, but it was still a very interesting experience.
@Raythebluejay
4 жыл бұрын
Excellent presentation!
@trentthegoat3793
3 жыл бұрын
this does put a smile on my face
@annpyingshek4693
4 жыл бұрын
Weapons are the least valuable items in the game? **Laughs in crate**
@theandroid5282
4 жыл бұрын
**Also laughs in Horseless Headless Horseman's Headtaker**
@annpyingshek4693
4 жыл бұрын
@@theandroid5282 Don't think that free achievement weapons count.
@theandroid5282
4 жыл бұрын
@@annpyingshek4693 There are some of those that are on the market, like strange and killstreak ones, that can go for $100 though.
@Mate_Antal_Zoltan
4 жыл бұрын
**laughs in noise maker**
@jackmoseley4959
3 жыл бұрын
@Magnus Von Braun So... What about unusual weapons?
@engineerbot6355
4 жыл бұрын
See, from someone who was on a trade server, witnessing the crate depression first hand. At first, everyone was in a panic. But once it had all settled and it was patched. It didn't really do much except mess with the value of third gen effects. Aces High, Cloud 9, Dead Presidents, Disco Beatdown, Kill-a-Watt, Miami Nights, and Terror-Watt, etc. I know some first gens were unboxed too. However, it wasn't as bad. The market made a pretty good recovery from it in the end I'd say.
@aceofhearts3063
3 жыл бұрын
Meet The Business Expert in Virtual Economics
@-TPLT
4 жыл бұрын
There's something inherently bizarre about hearing one of your favorite games' economy system being explained to a large crowd of people, but it's great that someone decided to talk about it to an audience such as this.
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