There are plenty of people out there I'm sure that have a similar if not greater amount of items as me. You're not wrong. Maybe?
While that may be true, these past two months promos haven't gained as much value as they used to from what I have seen. It seems like the economy is way less active these days and prices aren't gaining as much as they used to on some items. Either that or I am spewing stuff I don't know.
It's possible, but it's also possible that I'm spewing stuff I don't know. Would anyone that actually knows what they're talking about care to full us in please?
I think the latest promos (such as the 100k member items) aren't gaining much value because people bought DCs upon DCs of each item. When the items go off for sale in /shop, millionaires purchase several items at once and sit on them for a few months until the price rises again
The main thing I don't get: why do some people always consider it a crisis when the economy is merely moving a bit? Note that I'm now not only talking about EMC but about economy in general. You can read it in the newspapers: when a company isn't making more profit than the year before then some "experts" will immediately start raising questions if the company is actually still doing ok because it seems they're no longer growing, surely that's a major problem. Why? Why is it a problem when there's a status-quo sometime? As long as the company is still making profits, then obviously they're still quite healthy. Same thing here... Sure, the prizes for some (promo) items are dropping, and the same applies to the enchanted books. Diamonds on the other hand have seen their prizes going upward. I keep hearing veterans talk about "how we used to buy diamonds for 40r". So its definitely not all bad My take on the whole thing: a healthy economy will always be on the move. Prizes will vary, things will change and over time you'll see many things shift from one side to the other. That's not a crisis in my opinion but merely an example of a moving economy. I think things would become bad as soon as you'd see older promo items being sold for less than their original (/shop) prize (usually 10 or 15k). But so far I've yet to see that happening (but can't rule it out of course).
Truth there. Says something about the players who can afford to buy so many promos and pay higher than mall prices for auctions. They aren't going broke so they must have a viable income stream. Might be a lot more rupees out there than most players suspect. Personally, I bought far less this month than in previous months. Partly because prices went up and partly because I've been building. Haven't had any trouble making rupees, though. (Thanks sgt_pepper!)
I have noticed that the economy is going wrong. I used to be making rupees in the 100k's and now im dropping into the 50k's. Ik that could just be me going crazy building and all but ive always done that. I am havent noticed that prices of items have been dropping, not sure why, maybe minecraft updates or so but there is a Crisis going on in my opinion!
I like those experts. That's when I go for the kill, buying something good and valuable for cheap. Be greedy when others are fearful, be fearful when others are greedy. Long: Xom Cvx BP Rds.b
People think that they should be able to make big money from little work. That is why so many people think that the economy is in a crisis. It is no coincidence that people think the economy is tanking soon after they are given loads of free items that they can sell for a decent amount of money. The economy is just fine. It is the promo "economy" that is erratic. We shouldn't equate economic trends with promo fads.
Some things have been getting cheaper in my experience, but nothing 'crisis' level. I bet that enchanted books rise soon since the new macro clarifications are out. Who knows.
No, you're right, the economy is much different than when I first joined a little over a year ago. (Two peas in a pod, huh?) I remember when stable and vault vouchers were actually worth something, now they're not worth as much; that's the biggest thing I've noticed. I don't play online much 'cause I just don't have the time I used to have a year ago (other than just coming on to vote), but yes, I feel the economy hurting as well.
I think people are confusing the terms 'crisis' with 'inflation'. - Diamonds doubling in price over two years is inflation, not necessarily crisis. Crisis = The value of a rupee is becoming horribly out of proportion with the supply of resources that are in demand (either high or low value) Inflation = The value of a rupee is lowering due to an influx of them, however the raw value and supply of resources in demand stays more or less the same. An example of a crisis - Rupees are at a rate of 500r per diamond constantly hitting /shop price no matter how high it is raised, diamonds can never seem to be found anywhere at any price because people are willing to buy them for anything. Another example of crisis - Rupees are becoming extremely valuable - too valuable. Diamonds are 10r and people can't get enough of them due to nobody being willing to spend their rupees on anything. The price of -everything- is rapidly decreasing and nobody seems to be able to get enough rupees for basic stuff. An example of inflation - Stone costs 30r/stack in 2013 (example, I don't remember). Stone still costs 30r/stack in 2016 (example, I don't know). The value of stone hasn't really changed much and people are willing to buy/sell at a pretty mainstream pricepoint generally accepted as being fair. However, diamonds used to cost 30r a few years ago and now they are 120r due to the supply and demand of diamonds. Similarly, the price of beacons is starting to go up as people are slightly more willing to spend their rupees on them as they have rupees in more plentiful amounts. - What's happening here is inflation, gradually and over time. Aikar has said a long time ago in one of his vision statements that he wanted rupees to be at a valuation such that it takes a large amount of rupees to buy something (like lets say 200r per 1 piece of wood, or 3000r per 1 diamond). Aikar said that the purpose was in order to increase competition by what would currently be fractions of rupees. I.E in order to sell a single block of stone would currently be roughly .5r which is impossible on a single sign. If the rupee were to be inflated by a factor of 10, stone could then be traded in single pieces at 5r per piece - which would increase the ability to compete on lower levels. If somebody is able to dig back and find Aikar's statements on this matter, please reply and link them so we can see it for reference. I am however confident that this was stated a long time ago. Aikar's inflation idea would have easily been accomplished by multiplying everyone's balance by 10 as well as multiplying all shop sign prices by 10. This would have quickly inflated the rupee to the level he was describing and that's a reasonable thing to do since rupees are a digital currency that can be created and destroyed at will. The reason why I'm assuming that wasn't done in that way is because it was preferred if it could be done naturally over a long time. By inflating the rupee naturally by increasing the supply of them (voting streaks, supporter bonuses, higher MSRP on promos, etc), the value of the rupee can be inflated (and therefore decreased) in a much more gradual manner that wouldn't be a knee-jerk event. The effects of the subtle inflation being put in place, in my opinion, are finally being realized and this is why I suspect people are getting fearsome for the economy (even though the rupee is simply being inflated and not too much else). This all is just of course my $0.02.
That makes sense and I wouldn't be surprised if that's what it is right now. I'm totally fine with it as I can easily get some amount of rupees if I felt like it, but I do like taking things slow and seeing how things eventually unfold as well. An example is that I cannot sell food at a slightly higher price anymore. (IE, 1 potato, 1 rupee now...)
Inflation = Buying diamonds for 25r each in 2012 and for over 100r each in 2016 Yes, this is an actual, real example
I was pulling my hair out all thread waiting for someone to mention inflation. I had to wait until the last page. This is a super straight forward case of the rupees value decreasing over time. Sure, some items have decreased as well, like enchanted books, but that's because they aren't really in demand and have plenty of supply. Whereas diamonds demand remains the same, and the supply remains the same - the value of the rupee is just 1/4th what it used to be. As for not being able to make rupees: you're just not using the right methods. I'm a pretty new player who hasn't ever spent real money on EMC, I make between 10k to 30k an hour without a particularly large amount of effort. This amount is increasing each day because it's always easier to make money the more money you have. So it's definitely possible to still make plenty of rupees.
Wow, this thread has been resurrected. You're talking inflation and I don't have much perspective as I have only been on for not even 1.5 years. But there is one new variable injected into the server that I believe will and have seen does significantly change to the economy. That is the almighty mending enchantment. Talk about powerful. I put it on all my stuff and it never wears out, never. Armor, tools, and weapons require a fraction of the xp to fix and there is no negative affect of how many times it has been fixed. Why would weapons or armor wear out? They would wear out based on mob fighting. Mob fighting provides xp. Whoala, nothing wears out. Tools could wear out but with an xp farm it is fixed at lightning speed. So, no need for diamonds to use on the anvil to fix it. Heck, who wears out anvils anymore. That was by far my biggest need for iron. No need now. So, the bottom drops out of the armor, weapon and tool markets. The only enchanted book needed now is mending and just until all you stuff has it on it. And then of course say goodbye to your need for diamonds and most of your need for iron. Gotta love mending, unless of course your shop sells any of the that stuff.
Yeah, mending is great. For the economic effect I would describe it more as: 1.8 created a market for massing enchanted picks, and 1.9 reversed that. Prior to 1.8 the repair costs did not escalate. A max pick could be fully recharged at a cost of 30 levels and 10 emeralds (for a plain pick from a villager). So a player only needed a couple of picks and they were set. I feel like the enchanted gear market is going more strongly than it should, really. I agree with all of your points. I expected sales to tank. But for whatever reason, for me at least, they are going just as strong as ever. {edit: Maybe auctions? There have been some large enchanted gear auctions lately.}
I'm not entirely sure where this fits, but another "item" that has been "injected" into the server are decorative heads. This has been a growing trend for about 6 months (?) or so, and stimulates the economy at least by some degree. These heads are typically 1500r per and people seem to be buying them on a regular basis.
