Has the Krono issue been fixed?

Discussion in 'The Veterans' Lounge' started by Raidarr, Apr 11, 2021.

  1. Raidarr Journeyman

    Sitting on a krono but afraid to use it or trade it if it doesn't work.
  2. CatsPaws No response to your post cause your on ignore

    They seldom give us an official update on patches/maintenance but I would assume it is corrected since there are no more complaints and other sources says krono trades are going thru within a few seconds.
  3. Hekaton Augur

    i mean it is a pretty big issue not to fill us in on.
  4. CatsPaws No response to your post cause your on ignore

  5. ZenMaster formless, shapeless

    I lost a Krono when the issue occurred. GMs are still investigating in response to my petition. I haven't recovered the lost Krono yet. :(
  6. Hekaton Augur

    its a service that the game offers and no update was given if its fixed or not. i'm waiting to buy a couple kronos because i have no clue if its a working service at the moment
  7. Svann2 The Magnificent

    Did anyone get their money back? I mean if I ever paid real life money for a krono and then didnt get the plat from the trade Id be pretty pissed.
    Andarriel likes this.
  8. CatsPaws No response to your post cause your on ignore

    Well you have one poster saying he has not gotten it fixed but myself and a couple guildies have been able to trade them since the patch.

    Everyone has a right to ask and to have the option to buy or not to buy.
  9. ZenMaster formless, shapeless

    Good news: GM has recovered my Krono since my post.

    They have a tough job sorting the problem out. Daybreak CS has been very good.

    Thank you if someone is monitoring the forums.
  10. Hayzeus Augur

    See, this item feels similar to the toilet thread. It's likely that someone duct-taped a fix in the past, and then they documented that duct-taped fix poorly to the point that the current team has no clue where to begin now that a problem is snow balling on them.

    DB can't claim the revenue from Krono until they are clicked/consumed/converted into actual game time (deferred revenue). Being unable to readily fix this Krono issue is not a great indicator because, as a potential source of future revenue (when consumed), you would expect that they probably pay closer attention to these in game items vs other regular items. That they are having problems sorting out the duct tape on these items tied to a deferred revenue stream means (in my opinion) that the duct taping on this game is more pervasive than we were thinking in the toilet thread.

    PS: I am pleased they found your krono
  11. Benito EQ player since 2001.

    For my benefit, is that an accounting or economic principle?

    People are paying $18 per Krono. Daybreak instantly gets that cash. It's not like Krono are authorizations, IOUs, or outstanding balances.

    Edit: I guess what I am trying to understand is - how could it be considered deferred revenue? It seems like Krono in itself is considered a good delivered (virtual currency). It's not like an attorney's retainer in a trust account to be withdrawn for payment.
  12. Deux Corpse Connoisseur

    As we're dealing with cash/cc purchases DP really should give us an update on this...heck it's in their interest as people are holding off on transactions out of fear of loss not to mention the customer service headaches.
  13. Deux Corpse Connoisseur

    It's not deferred revenue...it's booked instantly as a sale and is much more profitable than a standard sub.
  14. Benito EQ player since 2001.

    That's what I am thinking. If Hayzeus is right (which - admittedly - he is not Daybreak's accountant as far as we know), then the revenue numbers published by EG7 are actually underestimated.
    Deux likes this.
  15. Deux Corpse Connoisseur

    The revenue is the revenue it is captured in their income statements probably as subs. I haven't looked at it but I don't think that have a ledger account for "deferred subscriptions" although they could I suppose. But that would be sort of dumb on their part to create a credit liability when they could simply book these as digital sales or categorize them as subs.
    Benito likes this.
  16. Niskin Clockwork Arguer


    This is the post people are referring to when they talk about how Krono are monetized:

    https://forums.daybreakgames.com/eq...ease-and-heres-why.203902/page-3#post-3000408
  17. Deux Corpse Connoisseur

    So Benito was right in his assumption that Kronos are deferred income which is surprising. Kronos have no expiration date so, if purchased, that money would be in limbo if not used even for long periods of time. I would have approached this differently as having an open ended, unlimited unrealized capital is sort of nuts.
  18. Hayzeus Augur

    I suspect it is deferred revenue, but you are correct in that I am not their accountant (so my opinion is largely irrelevant). Regardless, even if I am right, it doesn't mean they're doing it right. I'll guarantee that we could hash it out back/forth for pages, and still not come close to the truth as to how they are actually booking the business.

    Yet, selling the virtual item is not sufficient in my mind. All they are selling (when a Krono is sold) is the promise to honor 30 days of in game subscription time, and until that 30 day period actually starts by consuming the item... it is deferred revenue because game subscription time is close to (if not exactly) SaaS. Again, you can find examples supporting multiple opinions.

    My opinion is that it is deferred revenue, and as such I doubt they are able to book the revenue (for the promise of future subscription time) until that item is consumed (and the 30-day clock starts).

    Edit: lol and in the time it took me to get back to finishing my post, Niskin found a better thread to provide more accurate information. I typed a lot, so I'm not deleting my vague opinions.
  19. Hayzeus Augur

    It's not necessarily a fault in how they approached it. Accounting principles vary between GAAP and IFRS (and maybe any third set of principles that may apply instead?). Daybreak has to follow the rules, and it seems to me that tokens representing the promise of future sub-time are going to be treated as "deferred revenue." They (DB accountants) can make whatever case they want, but if they ignore the principles in deference to applying their own opinions... it can be costly if they are wrong.

    As always, it's about who can make the case in a court of law (IF their booking of the revenue comes under question), and I wouldn't bet against deferred revenue in this case.
  20. Benito EQ player since 2001.

    I was inquiring on Hayzeus' position. Piestro's post is from 2013 (8 years ago) and under SOE. Accounting practices can change based on ownership, regulation, etc.

    If EG7 reported $11.5m in bookings for EQ1 and Krono is a revenue stream that may not be included in those numbers, then EQ1's true bookings could be severely underestimated ($1-$10 more million unaccounted for annually).

    My problem with the deferred revenue concept is that it is analogous - possibly in this case - to saying that Doritos doesn't really earn the revenue until the bag of chips is opened.