So...if I destroyed my whole res, I would still probably be more poor than someone with 10 emc fireworks? Dang. Still, that was a good...ummm... speech. Though the equation may not be possible....variable i could change, variable d could fluctuate depending on people and the variables e,f, and g may not exist.
V2 Volt, I think I love you. I could hug you right now!! lol. I am a mathematician and I was the secretary of the Econ. Student Assoc. on my university's campus back in the day. Numbers don't lie and minecraft can really teach some amazing concepts if people just pay attention! Thank you.
I'm like 14 and I only study economics part time, the fact I have the gratitude from a proper economist means a lot ^_^
Correct me if I'm wrong but a bank in EMC would be quite impossible long term to sustain. The basis of a bank is that they use the money that people trust them to store and use it to provide loans which creates money in the process of doing so. Since people would be storing Rupees, unless there was a way to dupe rupees, there would be no way to actually legitimise a bank even if they were allowed.
Duping rupees isn't required. All somebody needs to do is acquire from savers, let's say, 10,000r, keep 2,000r as a reserve, lend out the 8,000r to various people at 20% interest, get 9,600r back, and give a reasonable interest rate to savers (like 5% or something), meaning everyone makes a profit. Duping rupees isn't needed.
So it wouldnt be as much for storing R as just loans? I guess there wouldnt be a need to store R in the first place.
I read it twice, first to understand , second to analyze and look for flaws but I must say, I couldn't find one valid flaw in that. Perfectly constructed words placed in a knowledgeable sense. I might just have to world download my 4 plots and schematica them on single player to see the amount of blocks used as assets.
But, why would you need to calculate your wealth if you don't feel wealthy at all? Would there be a measurement to take into account other people's wealth in comparison with your own? If I do this formula thing with my 700k rupees and it says I'm wealthy I'd think of it wrong seen players with like double my amount.
There is one glaring flaw in your work sir. You cannot create an equation based on values measured in different ways. They all have to be brought down to a common denominator or a common equivalency. You cannot add 1000 rupees and 3456 stone brick and come out with a value that makes sense. Of course you could convert the value of the stone brick into a value in rupees, but how do you know you using the correct conversion? Very tricky stuff. Of course alot of this happens automatically in the marketplace, but the equation requires a set of constants which are conversion rates for each type of material. I also disgree vigorously that there is a constant state of inflation where rupees are continuously decreasing in value (or contrarily that physical items are continuously increasing in value). The price of iron over the past few months should be proof enough of that. There are a number of factors that can cause prices to rise or fall over time. In addition, new rupees are made and old rupees are "lost" on a reasonably consistent basis. The folly of supply and demand can play havoc with the prices of items.
