They're both greedy. They both know what they're doing. They have completely different effects on the server. These effects come from their different approaches to markets.
The first type farms or runs dailies or crafts as he sees the various profits from each shift. That includes the profit of fun. He might know that dailies are more gold per hour than farming, but he's sick of dailies. Or he's sick of farming so he searches the AH for cheap mats and does some crafting. He creates new markets. He finds that people would rather buy rhino meat off the AH than take the time to run out and farm four; so he farms 40 and sells them off on rhino dog day. Or he sees that no one is making an unusual gem type, so he gets that design and starts cutting the new type.
This goblin has three defining properties. First, he's greedy. Second, he understands markets. Third, he adds value to the economy.
The second type does only that which maximizes his gold. You are unlikely to ever see him farm or do dailies. Instead his uses his knowledge of the AH to drive others out of business. He is an anti-capitalist. He gains advantage not by being more efficient or making a better product, but instead by driving away competition through market manipulation. You will never see him add materials or gold to the economy. If he is crafting, he is not crafting in new markets, but instead he is crafting what others would have crafted anyway; he is taking markets. I will acknowledge, there are times that he is taking the market from someone who dramatically overprices and moves small volume, but a type one can do that as well without driving out others but instead demonstrates better technique which can be adopted.
This goblin has three defining properties. First, he's greedy. Second, he understands markets. Third, he adds removes value from the economy.
The first type of goblin, you want. You really want. He is awesome. He doesn't just make himself richer, he makes you richer; he makes everyone richer because he is productive and efficient.
The second type, pray that he is not on your server. Pray that there are not multiples. If there are, good luck trying to craft anything profitably. They will stop at nothing to drive everyone away. All they want you for is cheap mats and an open wallet. They'll find the BoEs, buy them, and then resell for double the price. Then they'll laugh at you for being undergeared and poor and call you an idiot.
Tonight I was briefly the first type. As I looked at the auction house I noticed that there were no raw earthsiege diamonds. My fellow JCs would be out of work, unemployed! It was my duty to fill that gap! After they sold out at 45, 50, and 55g, I was out of gems and clearly the economy needed more stimulus, so I hopped over to my alchemist and whipped up another batch. And only three SP gems in the AH! I helped fill that gap as well. Then for no clear reason someone tipped me 40g for a single cut. I was surprised because this would be the first time selling a cut was worth as much as buying a gem, cutting it, and putting it on the AH. That will be part of tomorrow's topic.
The Humanity Hypothesis, my new game project
10 hours ago