I agree, and also what about those who have a high ranking we wont be able to catch up to them this way
New Ratings System

I was not even aware that they had changed the ratings formula!
It does seem a little lower, though. My RD is 82 and if I beat someone the same rating as me, I'll gain just 17 points.
I'm not complaining, just commenting.

I haven't read the whole ratings formula in a long time, but they've changed a number or more that is plugged in so that your rating goes up or down less with each match than it used to. In my case it is by a factor of half.

I'm much happier with the way it's working now. If I have a weak streak and lose four or five games in a row, my rating won't be 100-150 points lower, making it a tiny bit deceiving. Everyone's ratings should stay in a more accurate ballpark now, so I think it's beneficial.

I am bit upset myself. I won against 1885 and my rating increased only marginally by only 12 points to 1534, while his rating decreased by 130 points to 1755.
And if I lose to 1450(say), my rating would decrease by about 17 points.
Does it make sense? How does one lose more points by losing against an almost equal player, but gain less by winning against a far superior player?
This is terrible in my opinion. I just beat someone rated 100 points higher than me and only got 4 points for victory.
Where's the reward for winning when you only get such meagre points for victory?
This is the sort of thing that makes me think about looking elsewhere to play my chess as there is no satisifaction for me anymore at chess.com if this rating system stays.

This is terrible in my opinion. I just beat someone rated 100 points higher than me and only got 4 points for victory.
Where's the reward for winning when you only get such meagre points for victory?
This is the sort of thing that makes me think about looking elsewhere to play my chess as there is no satisifaction for me anymore at chess.com if this rating system stays.
A rating is not a reward, it is a measure of your ability to play chess.
Your current RD is 34. This is very low. You rating should be almost immovable.
Current: | 1455 |
Today's Rank: | #6748 of 51,193 |
Percentile: | 86.8% |
Glicko RD: | 34 |
According to the recently fixed calculation, there is a 95% probability that your rating on this site is between 1387 and 1523. (1455-2*34 = 1387 and 1455+3*34 = 1523)
The calculation may require more tweaking.

In less than 24 hours of my OP my rating adjustments have gone back to their original parameters. No comment from Staff.

I didn't know they changed the rating system but who cares? There are a lot more things to worry about!

Staff did comment :)
Please read the following posts - #1, #56,#69,#96, #113
http://www.chess.com/forum/view/community/math-people-only-changes-to-how-much-ratings-change?page=1

I'm not aware of the details of this new system but I'd like to point out that :
1- People are strangly obsessed with rating.
2- Rating is a measure of you playing level, therefore it should not change very much in time. If a player improve then it goes up but most people improve slowly.

2- Rating is a measure of you playing level, therefore it should not change very much in time. If a player improve then it goes up but most people improve slowly.
Your conclusing assumes that the rating is an accurate measure of playing level. Since the rating is an estimate of the playing level, it really tells us a range where your playing level is likely to be. Therefore it should be able to change easily within that range, up or down.
I you are going to start a new rating you have to start from scratch, and not use the previous rating figure with the new rating, since that would only bias the rating to those that got to a higher rating level using the prior rating system which gave more points for winning.

I think that a more stable ratings system is better because it enables me to focus more on the game and less on guessing how many points I might win or lose from it. A player's strength does not change by 200 points in a day, therefore a system that regularly featured such shifts could not have been accurate. But it is true that changing the system now will temporarily favor those who got lucky in the old system but I am willing to live with it.
I hope most people like the new chess.com ratings formula, because as a heavy user I dislike it. I have a RD of 36 and if I play someone my own strength I gain 4 points if I win and lose 4 if I lose. I know people were complaining about ratings being too volatile but I would prefer somewhat more volatility than this. I would take the chance at losing more points if I could win more points. However, I realize that I play a lot more games than most people, so hopefully the new system is better for them.