Hi, it's me again! Throughout the past months, I've wondered at the extremely high worth of certain EMC items that aren't obtainable anymore, and at the very low worth of items that can be bought for real money. I figured I'd compare this recent auction and this recent reverse auction by Faithcaster. I haven't calculated it yet, but I'd like to share it right away, for fun. Let's start from the Permanent Derelict Voucher, which can be bought for $125 (and according to the wiki page that's the only way), and use that to find a worth for the original dragon egg. 125 / 1,390,000 * 81,000,000 = $7284 and 17 cents. Isn't that a bit crazy? Of course I should've used more items to compare against on both sides to make this reliable, but the primary intention of this is to raise the question: how can items on EMC be worth this much? By another quick comparison: if I'd auction my 60k members armor set (oops never mind I auctioned it earlier and got 60k for the entire set) I would easily be able to buy diamond supporter vouchers for the next two and a half years (maybe three even). That'd otherwise cost over $500. ¯\_(ツ)_/¯
Wow... I know Tom and I own around the neighbourhood of 90mil worth promo's... That would be over 8000 dollars... Well... EMC is a pretty libertarian (https://en.wikipedia.org/wiki/Libertarianism) economeny, so it's just supply and demand, really Tha value is that high because some person wants to pay that much for it. No labour theories of value involved here...
Yeah, I am quite certain that if it would be allowed to buy EMC items for real money, these things wouldn't actually be worth nearly this much.
The EMC rupee is more hyperinflated than the German Empire's Papiermark was at the end of its life in 1924 lol
The daily infusions of rupees players get for being supporters and voting are not subject to market forces and essentially act as a kind of loose monetary policy.
Also currency conversion for OP: Eurozone $125 = 109.93€ $7284.17 = 6,405.84€ UK (the pound fluctuates very annoyingly atm, this'll probably be different by next week) $125 = £111.97 $7284.17 = £5,738.47 Russia $125 = 7,878.52₽ $7284.17 = 496,568.93₽ North Korea $125 = ₩112,509.12 $7284.17 = ₩6,556,284.74
Interesting! 1 block of diamonds at 1000 rupees: 125 ÷ 1,390,000 * 1000 = 0.08992806 So one block of diamonds would be just 9 dollar cents. Ew commas as decimal points. One of the stupider things of the Dutch language and others. 125 ÷ 1,390,000 * 1 = 8.992806e−5. Thanks phone calculator. So $0.00008992. (edit: fixed the issue 607 pointed out)
Wait, when you did this the pound was worth less than the euro?? That does seem reasonable! By the way, you placed an extra 0 in your post at the voucher in rupees, although you used the right amount in the calculation.
Lol in the pound is verry unstable its £98 for $125 £5727.29 for $7284.17 This will change in 5 mins of me posting this so by the time you see this its already wrong
The previously mentioned inflation definitely plays a part into this; in a real economy, there's a limit on how much money is printed and in circulation. On EMC, however, there's an infinite amount of money that's able to be put into the economy, which messes with things. This is an interesting look at things!
I've thought about this many times: if you would be able to switch back rupees to "real" currencies, I'd be rich. That surprised me too. I remember when the difference between the euro and pound was more than between the euro and USD. It seems like it must suck to be British right now... Whoops. On phone and haven't been doing much "big math-like stuff" in a bit. Also, I personally almost never use the commas for thousands, so I'm not used to placing them. I generally just count the zeros and such, which works just fine. I typed it in here AFTER I did the calculation, as I always do, so mistypes/writes may occur.
