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Why Does SIM Price Keep Falling?

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Adrian
@gadrian
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2 min read

This morning I had the really bad inspiration to check out my dCity.

Here's what I saw:

Let's put it into words too, just in case you are not curious enough to enlarge the screenshot.

101.9% total taxes

48% income tax 1% police tax 5% education tax 5% art tax 12.9% war tax 5% eco tax 5% jobs tax 20% basic tax

The current president applied all available taxes and reached and incredible 101.9% total taxes! This must be a first, a total tax over 100%?

But you may be wondering how I still get some SIM if taxes are, apparently, above 100%. Well, I have a Law Firm card, which reduces taxes by 10%. I never thought this card would become so valuable.

I wonder, what's the use of a president in the game, if his policy is to apply all taxes indiscriminatory?

How do smaller cities ever grow in such conditions (and I'm not talking about mine here)?

What these taxes are trying to prevent is this:

The falling price of SIM, the in-game token of dCity.

But high taxes didn't work with the previous president, and surprise, higher taxes go even worse with the new president.

Let me tell you why this doesn't work, in case you haven't figured out yet:

  1. because who sells will keep selling, despite the high taxes limiting the daily SIM income, maybe with even more determination if they don't like the roadblocks (otherwise maybe they'd use a portion to reinvest)
  2. because there are better opportunities of earning elsewhere these days, that's why some sell, and that's why not enough people buy to compensate
  3. because you create FUD through taxes, which goes on top of the falling price.

I like dCity and I say these things precisely because I like it and I don't want it ruined by bad policies.

And just if you aren't aware of, the downtrend isn't happening only for SIM.

Here's DEC, the in-game token of Splinterlands:

Here's STARBITS, the in-game token of Rising Star. Less pronounced downtrend, but still, going down recently.

That doesn't mean there's something wrong with any of these games. As I see it, some are "cashing out", probably chasing higher returns that are available at the moment in non-games opportunities. When things cool down they will likely be back with even more capital (or not, if they lose it!).

== End rant. ==

Now that the rant if over, a hopefully funny disclaimer: I'm not the one selling.

Posted Using LeoFinance Beta