Economic Equivalence

[TheDiamondTiger]

Lately I have been thinking of a way to keep track of the economy and inflation in Mc Cities and my conclusion is to find an object that's value will never change and can not be bought or sold by players. This item needs to be independent of currency, but is still equal to it so a comparison can be made at any moment to find the value of currency. In real life, this isn't a problem because other currencies exist, but in Minecraft, there really isn't one. So I have a challenge for all players to find a secondary form of currency that does not rely on anything in the minecraft market and is independent of the current system.

 

[TheDiamondTiger]

Here is a simple explanation of how inflation happens with the current system (Please excuse run-on sentences):
When an item is sold to the server shop, a new player joins (initial balance), someone wins gets a reward and gets money from a job; money is created. When an item is bought from the server shop, someone is fined, Playertaxes or a player quits, money is destroyed. For each shop transactions, only a small amount of inflation or deflation will occur and usually balance out, but this system has some major flaws which is the reason shop prices change. For example, say I farm spiders for 3 days straight and sell $11,059,200 worth of spider eyes (actual statistics if earning 64 per minute and grinding for 72 hours); this creates more substantial inflation. Now, money is worth less and items cost more. Now, to find the amount of inflation you will need to use this equation: I = (S + N + R + J) - (B + Q + F + P) [I = Inflation, S = Sold to Shop, N = Initial Player Balance, R = Rewards (Vote/ Contest/Reaction), J = Money Earned From Jobs/Paychecks, B = Bought from Shop, Q = Quit Player Balance, F = Fines, P = Playertaxes]

Now to find the amount of inflation in a ratio from the Initial Amount of Money in the Market (The amount of money which will be your base of measure, this can be at any time, but to find the total amount of inflation, you will need to have this as the original amount of money on the server):

T : 1 as I : X [T= Initial Amount of Money, I = Inflation, X = the comparative of interest]

To find X you will need actual values, so here is an example; T = 1,000,000; I = 100,000 | T= 1; I = 0.1

So Inflation is 0.1. Now this 1 and 0.1 are the currency I need, but can't find.

 

[Turkey]

Lately I have been thinking of a way to keep track of the economy and inflation in Mc Cities and my conclusion is to find an object that's value will never change and can not be bought or sold by players. This item needs to be independent of currency, but is still equal to it so a comparison can be made at any moment to find the value of currency. In real life, this isn't a problem because other currencies exist, but in Minecraft, there really isn't one. So I have a challenge for all players to find a secondary form of currency that does not rely on anything in the minecraft market and is independent of the current system.

Great work/idea btw, but unlike you said, minecraft only has one currency (on this server). Wouldn't it be easier to create like a McBitCoin? To prevent inflation for short term, this new currency could have an equivalence of over 100k. That way a lot of players would have access to it, but really only Citizen+

Nice thoughts though, I frequently wondered about the same thing XD

 

[Deleted member 832]

Great work/idea btw, but unlike you said, minecraft only has one currency (on this server). Wouldn't it be easier to create like a McBitCoin? To prevent inflation for short term, this new currency could have an equivalence of over 100k. That way a lot of players would have access to it, but really only Citizen+

Nice thoughts though, I frequently wondered about the same thing XD

Same here- we need something new, nothing that players have stacked up, ( eg gold )

 

[Turkey]

Same here- we need something new, nothing that players have stacked up, ( eg gold )

Yea, like a physical currency

 

[Deleted member 832]

Yea, like a physical currency

We had /withdraw in the owner wars days, it spawned paper currency

 

[TheDiamondTiger]

My original conclusion was that a new digital currency would need to be introduced, but I felt that the staff wouldn't feel it necessary.

 

[TheDiamondTiger]

We had /withdraw in the owner wars days, it spawned paper currency

The problem with that is if you /withdraw (withdrew) all of your money and put it in a chest; what would be the point of getting insurance for the bank.

 

[Trump15024]

We need to make a gold vault but really this is a computer game it is not going to run out of money.

 

[Coban]

Sounds interesting to me. But may I ask what makes it different than dollars? Like how do you intend of having a different usage for it?

 

[DarkMagicinY]

Sounds interesting to me. But may I ask what makes it different than dollars? Like how do you intend of having a different usage for it?

i think that prices can go up an down and that u can have the money in your inventory so it can be used for people in rp as well.

 

[Turkey]

Sounds interesting to me. But may I ask what makes it different than dollars? Like how do you intend of having a different usage for it?

Not much of an actual 'use difference' but having physical, more valuable money, can open up a lot of things. For example if these 'gold things' were worth 100k each, that means that their value wouldn't change as much as the $1, and it would be better for investing.

 

[Deleted member 832]

Not much of an actual 'use difference' but having physical, more valuable money, can open up a lot of things. For example if these 'gold things' were worth 100k each, that means that their value wouldn't change as much as the $1, and it would be better for investing.

Like vaulted currency, but what about dupe hack risk?

 

[TheDiamondTiger]

Like vaulted currency, but what about dupe hack risk?

That could be a potential issue, but having it stick to your inv (it would also be soulbound) would make it impossible to glitch because it can't be put into a block or entity inventory.

Not much of an actual 'use difference' but having physical, more valuable money, can open up a lot of things. For example if these 'gold things' were worth 100k each, that means that their value wouldn't change as much as the $1, and it would be better for investing.

The point of this money is that it will be independent in value, so initially it will be 100k, but will have separate inflation than the regular money.

 

[Trump15024]

@Coban I am buying gold right now

 

[TheDiamondTiger]

@Coban I am buying gold right now

Gabriel, please don't comment on here if you don't have anything to add.

So this currency has to be an item unobtainable in normal game play (so an item named with colors) and it can't have any right-click uses; so I recommend a spawn egg with no value so /give @p spawn_egg 1 0. (A spawn egg with a value of 0)

 

[Turkey]

Gabriel, please don't comment on here if you don't have anything to add.

So this currency has to be an item unobtainable in normal game play (so an item named with colors) and it can't have any right-click uses; so I recommend a colored Firework Star or a spawn egg with no value so /give @p spawn_egg 1 0.

Yea that could work! The only problem I can find with this idea are duping glitches ...

 

[TheDiamondTiger]

Yea that could work! The only problem I can find with this idea are duping glitches ...

Hmm.... maybe making it a singular item which keeps the amount of them in it's name and have it used by signs. So it could be something named like "Tokens [%amount%]"

 

[Turkey]

Yes that makes sense ! I'll make new thread about this, it could work !


EDIT: new thread made,

 

[Trump15024]

@TheDiamondTiger this is a "suggestion" forum not a ban appeal