A quick update here, Runescape has released an item called "Bonds". These are originally bought with real money from Jagex, and then can be sold in-game. They cost $5 each, and the market price is around 11m, although the actual going price is (at time of posting) 6.4m.
This update creates a real currency/RS gold trade system of sorts that is legal. I have no interest in paying real money for bonds. Persons who want to buy RS gold; however, can now buy an item with real money which they can sell for RS gold. If we go with $5 for a bond, and 6.4m for a bond, that creates a relation of $0.78 per mil. This will fluctuate as the going price for a bond fluctuates.
I expect that without price fixing, the price for a bond will go down further from 6.4m. This is because in the next few days, everyone who wants one will have bought a bond and redeemed it for 14 days of membership. The demand will likely go down in a few days, but could rebound. Retrading is difficult because there is a 10% surcharge to be able to resell the bond, and this is calculated from the GE price, not the going price.
This is an interesting update, and will certainly have implications on merching. For instance, items commonly used by members will likely have a price increase as more members will be added into the system. This includes logs, which are used for planks. I have to put some thought into the implications of the new update, and the best ways to make gp with it.
