Saturday, January 28, 2006

Blogshares - January Update

It has been a month since I first joined Blogshares and began selling and buying shares in blogs. I have been able to grow my initial B$500 networth to just over B$8,000,000,000 in one month. I got a big push in the past week by entering a number of Missions that will "pay" you in B$ and Chips if you link to their blog or blogs. I managed to raise about B$2,000,000,000 this way. I also lucked out when I purchased several rare Ideas and was able to raise almost B$3,000,000,000 from selling Bonds.

There are several components to growth in Blogshares. First, buy Ideas and convert them to Artefacts. The value of the Ideas converted to an Artefact will be deducted from your net worth, but Artefacts allow the user to manipulate prices and buy larger chunks of stocks than is permitted under normal gameplay.

Second, buy rare or higher priced (greater than $1.00 per Idea) Ideas whenever you get a chance in order to issue Bonds. Since you need 10,000 Ideas in an industry to create an Artefact, I try to collect 10,000 Ideas before issuing a Bond. I stay away from low cost Ideas - there is no money to be made.

Third, enter Missions. You can earn a fair bit of money in a very short period of time. Money is crucial. If you plan on issuing a Bond, you need to have enough money on hand to cover the Bond if, for whatever reason, you do not have the number of Ideas promised in the Bond. I have had B$1 Billion tied up in in a single Bond issue, but, eventually I sold the Bond. Without the cash, I could have never issued the Bond and would have never realized the profit that came with selling that Bond.

Another important but tiresome task is earning Karma. You earn Karma when you vote for which industry or industries a blog belongs to. When you have 750 Karma, you are entitled to double usage of Artefacts in a 24 hour period. This can be big on highly valued blogs. But like I said, this a boring task. I try to vote about 10 times a day.

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