Wow did you keep emptying the chests? Thats like 6 DC of Iron Block, 54DC ingots? I have some gunpowder to sell and had iron but guess you’re full on that as well
Just saw this now but I've thought for a long time too that the prices on certain items were too high despite most items generally getting less expensive and sometimes updates making them easier to obtain. But it's not easy to reduce the price of some of the items and drive the market price down because so few people sell it and many people, especially newer members, are unaware of shops selling it for lower prices. For example, people have always charged a high price on obsidian since most people don't have the patience to mine a large amount of obsidian. I thought it was already overpriced, but now you can obtain obsidian though piglin bartering. I think this plan could work though if it gets enough attention and support
Well, we are now a full week into this crazy experiment and I pretty happy with the results. My biggest goal was to see if people would buy more or sell more, and since last week I have lost just a bit less than 1 million rupees by buying iron and gunpowder. Safe to say that there are a few dedicated players that really want to see me go bankrupt. My findings: -A nice title and a bit of effort on the forums will boost your sales at the start. Half of the total items sold during this week were sold on the first day. -Buying items in your shop is dangerous, certainly if there are certain people that have lots to sell. More importantly: Our EMC community seems to be in excelent shape. Not only were there people brave enough to call me out on my dumb behaviour on the forums, I was even approached in game to talk about my intentions. Some people agreed and some certainly did not, but in the end a lot of people spoke up and got involved in the economy. For this, I'm really gratefull. Since I have already reached the goal I wanted to reach (making people think/talk about the economy and correct prices), there is little point to continue this concept for the rest of the month. And with 1.17 rapidly approaching, I'm going to let this thread fall to sleep. Since certain players have asked me not to close it immediately I will keep the "shop" open and leave the prices unchanged (or maybe lower them a bit just to clean up) untill it's completely out of stock. Now, my final question to the community: With the upcomming update giving us all the option to start with a clean slate, how can we as a group actually improve our economy to the benefit of all our players after 1.17?
I'm glad that you are happy with your findings so far~ As for the 1.17+ economy, I... do not know. My only thing is "mine as much deepslate emerald ore right now", but... it could be argued that is such a niche item that when 1.18 makes it disappear, it may not have as much impact on the economy as first thought. 🤔 If only WaffleCoffee were here, she'd probably be able to help.
What makes you think I know anything about the economy? I think for 1.17, since there isn't really anything of substantial value and use being introduced to the economy (netherite is an example of something with both substantial value and use), there really won't be much of anything to do. Maybe iron/gold/etc prices will go down, as mining starts to become profitable again, but I've no clue. I say: let it exist and maybe poke it with a stick every once in a while if it's not moving.
These conversations go so long. This is the short version... Answer -- We need more people building, and more people buying supplies for builds. This is one of our income cycles: Building creates demand for materials. Demand creates income for suppliers. Suppliers can then hire builders (or subsidize them) which closes the cycle. And #3 is where we need a boost. Most often it's "suppliers buy promos" while "starving builders farm their own items." So if you're sitting on a pile of rupees and want to help the economy, go buy a bunch of materials for that mega build, and hire a builder, and pay for a building consultant, and subsidize other builders by supplying their materials. Encouraging building. Spend money on supplies.
The economy is not built on the price of an item, it's built on demand for the item. The bigger the player base that want specific items the higher the price the lower that player base the lower the demand and thus, the price reduces. The cost only increases because so many players want the same item, which is hard to get and is useful/needed. Wither Roses I would say have a greater demand and higher price than beacons. This is because beacons although useful, have mass produced and the market has been flooded and thus, the price drops. The rarer the item also impacts the price but only if it's in demand and has a use. Once upon a time there was great demand just to get on EMC servers, every server was full 600 players per server, and a bunch more players trying to get on. This created great demand for items, as those items became less rare or a better item replaced it, it's value would drop. My Shop /v 13131 has been around for almost 10 years on /smp6, although its changed over that time. Some of my prices are out dated by a huge amount, I have made and lost millions on some items, like beacons and wither skulls. That's how it works, businesses are hurt when an item loses half its value, so you buy at 10k and end up selling at 5k; and players crib at that price. You only really do well if you supply most of the items in your shop yourself, certainly to begin with. Once you have made some rupees and banked them you can afford to take the risk on allowing players to supply and buy your goods. As for breaking the economy, there are 2 main things I can see that has done this if you ignore the Aikar mith . 1. is villager trading, this had a big impact since 1.13. A nightmare update I am sure Aikar wants to forget, I am pretty sure he needed therapy during that update. 2. the player base drop off, with the introduction of the X-Box version, only way to get that back is if it was possible for EMC to host X-Box MC alongside Java.
