I didn't mean to imply that I was changing things entirely as a result of the update, only that I had already spent a lot of time in shop maintenance recently and was going to have to come back into Town from my remote location in the wild to give things a good looking over. It's what any decent shop owner would do and was not meant as a complaint. Thanks for your efforts.
The rate of inflation which is present on EMC isn't healthy for its economy. Azoundria said that the inflation rate is 50% on a thread regarding, well, inflation of the rupee. While I don't know if its exactly true, I'm sure its pretty much correct or close to the real rate at least. I'm fairly sure that that rate is counted as hyperinflation. The rate at which an economy inflates is usually by 1% a year in the real world, and virtual economies will usually inflate by 3-5% a year. 50% isn't really on the spectrum of a 'limited scale'.
If we pushed for 5%/year inflation... it would take years to get the economy in a better shape. At the rate of minecrafts decline...that would be silly. I see this inflation as a major win in the goals and a major win in boosting the health of the economy. Demand has skyrocketed, which provides opportunity for more people to succeed in the economy that was not there before. We shouldn't be worrying about the actual %. Right now I see nothing but good out of this inflation. The only ones who are being "Hurt" are those who have done nothing with their rupees or participated in things to earn rupees for the past year. While the active players have received a massive improvement to participating in the economy. Thats the goal, and its working great.
You can not completely apply the rules of real world economy to that of minecraft economy. Real world economy is completely, to its very core - and at all times most importantly, based on the fact that all good are limited. Apply this to currency. The government can not go out and print money whenever it wants. However EMC is printing money on a daily basis in terms of sign in and voting bonuses. This is going to cause inflation of the rupee.But it isn't really going to hurt anything in the long run. Buying diamonds today at 100r is equivalently the same as buying it at 50 r a few months back. Rupees are easier to get now, so spending a few more of them to get an item is not going to hurt you. You guys who are trying to apply real world economy knowledge to this game are not going to end up where you think you should. It is not possible. The game has unlimited currency to give out and unlimited resources to gather. Real world economics revolves around the fact that neither of these two statements are true. At the very fundamental core - The two economies could not be more different.
It's also important to note that EMC's economy in 2012-2013 was based on an extremely low bottom line. Free players were dirt poor. No-one could afford to spend 50r on a diamond when their income was 100r for the day. So, they simply didn't spend.... They essentially were not able to participate in the economy. You know the saying "It takes money to make money", new players had a rough start entering the economy... Therefor demand was much lower than it should of been, keeping prices stable. But, those stable prices were artificial. It wasn't because thats what it was worth, its because that was the lowest anyone could afford to pay for the things! We cant expect to hold onto old broken elements. Now, every new player is immediately able to participate in the economy, meaning if you put in the effort to set up a shop, you're very likely to do business and make profit! Diamond prices are rising due to demand being higher than supply, so EVERYONE has opportunity to go out, mine diamonds, make great profit. And you have enough rupees to stock a general supply of multiple items to then get your own store going and build reputation going. That opportunity did not exists in the past until you really got into things and earned a good bit of rupees, and for someone who cant even afford a diamond armor set, it wasn't a major offering. Some may view it as "you should work hard to start a shop"; that is not fair to say. We are a "Play Your Way" server. Some people may prefer to never participate in survival and focus on economics day 1, and they should have that option to.
I don't think it does anymore as they are aiming for inflation. On a different note, with diamond prices going up rapidly I think I may go mining for the first time in forever...
This is exactly true. Think about this in real life. Money is taken out of circulation after a good amount of time being transferred from person to person. However, on EMC where it is only a mock economy, not much is taken out, besides Empire Shop purchases, promo from /shop purchases, etc. With all the voting rupees that come in, it drives each rupees' value down, which means higher prices. Due to the amount of rupees in "circulation" going up, a 72r diamond now could possibly mean a 20r diamond in the past. I also agree with Standsinlava on her point with taking more rupees out of circulation so prices, although logically they're practically the same price since you still had more rupees taken out. This would kind of be a mind game. Players would say, "Oh look these diamonds are only 50r, they used to be 100r!" However, due to more rupees taken out, it's the "same price." Correct me if anything I said is wrong, but from my studies, I believe this is correct.
Listen everyone we want to ENCOURAGE people to go to the /wasteland I wonder how many people actually have typed in that command before just to go mining. DO NOT COMPLAIN this is not an inflation to the ECONOMY this is to help it for the better good we do not want to have 200r diamonds and at the same time 35r diamonds the shop acts as a cap for shop users we do not want to go ABOVE and beyond the shop caps then what would be the sense of having and economy in the first place?!?!!?!?!?! so general tip get some armour get a silk touch tool go to the waste or nether waste get some quartz (Inventory full) Bust it all with a fortune III pick comblamo you just made your self 5k within about an hours work
I have like, 10 stacks of diamonds just from voting... wtf are people using them for? Repairing tools doesn't take that many with unbreakable IV
Try Difficulty 8-10, you'll be repairing armor faster than you can mine diamonds... Also every new player is needing to buy Diamond Armor and Tools We're getting up to 7k players a month that plays for a decent bit, and up to 2k that stick around. So that's quite a lot of demand on Diamonds.
