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A rapid and accelerated increase of the prices of most goods and services within an economy. Usually happens whenever production of money vastly outpaces the production of goods/services, quickly lowering its value. This phenomenon has been observed in both real and virtual economies.
Zimbabwe experienced hyperinflation starting in 2004 when the government of Robert Mugabe began printing more banknotes with increasing face values (the hundred-trillion dollar banknote being the highest-valued) to pay for its expenses. After chopping off zeroes thrice to keep zeroes from overcrowding the increasingly-worthless bills, the Zimbabwean dollar was abandoned in 2009 and foreign currencies are now used instead.
Also, after Gary Schofield and Jason Loia took over Gaia Online in 2013, the site began directly selling Gaia Gold (the site's virtual currency) for real money, immediately triggering hyperinflation in the user-run virtual auction house. The continued sale of gold-generating items devalued Gaia Gold by at least ten thousand times.
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Nickname of Gary Schofield, CEO of Gaia Online. Named as such because:
1. He flooded Gaia's marketplace with quadrillions of increasingly-useless gold to force everyone into spending real money on the site.
2. Like Voldemort of the Harry Potter series who brings trouble to whoever mentions his name, he bans people for merely mentioning his name and/or suggesting that he be fired.
Voldemort has better long-term thinking on how to make himself immortal. Goldemort has short-term thinking with the "big bang for a buck this second, SALE SALE SALE", and drowning users with announcements and recolors because "buyers demand it", even though Gaia is full of minors who can barely make minimum wage.
In short, don't put Voldemort that low. He has better standards.
The cancer that is killing Gaia Online. He first gained infamy when he, as CEO, laid off most of Gaia's good employees and replaced them with dimwitted yes-men led by his sidekick Jason Loia (whom he made the COO). Afterwards, he began selling virtual items for as high as $1000 to fund the flop that would later be known as Tentacl. Later, he introduced gold generators to drive up the prices of everything in Gaia's marketplace up to the point that spending real cash became the only option to enjoy the site.
He earned the ire of the users for his money-hungry ways. To secure his control as the totalitarian autocrat of the site, he ordered the mods to censor the forums and silence users who single out him and/or his puppets. He received the nicknames "Goldemort" and "he-who-must-not-be-named" because people who mention Gary's real name in the forums attract the banhammer often.
Many among Gaia Online's once-loyal users and employees have left, and Gaia will continue to suffer unitl Gary and his cronies are exterminated.
The Gaia Online that we all once knew and loved is indeed dead. And its murderer's name is Gary Schofield.
User1: You can win 1 trillion gold from a gold generator?
User2: No. That's just a cheap marketing strategy that Gary Schofield aka Goldemort hatched while at his vacation house in Zimbabwe. Nobody is actually going to get 1tril from it
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The spectacularly-failed attempt of Gary Schofield and Jason Loia on making a cash grab from a badly-done concoction of Tumblr, IMVU, and 4chan, which they funded through milking Gaia Online as hard as they could. It seemed like it was created basing on a 13-year-old's expectations of an 18+ site.
Its name alone guaranteed that the site would be used almost exclusively for cybersex and sharing porn. After most of its users realized that there's nothing else to do, they ditched it and moved elsewhere. It was eventually shut down on December 1, 2014 due to lack of users.
Tentacl might have been successful ten years ago but it looks really dated & the 18+ execution is full-on trash. It's visually awful and the UI is terrible. Couldn't they find a decent web designer in Silicon Valley?
User1: Tentacl belongs in the trash.
User2: No, not even a trashcan should be subjected to that.
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