Hi folks. I saw a few threads just go viral in this area of emc website. I felt like maybe we can have a discussion about empire's economy? Maybe I'll kickstart this with my own story on SMP8.I started here on EMC a long time ago. I've looked back into my rupee records and saw that the first thing I bought here on emc were iron boots from empire shop. Of course there were player shops back then, however I had no idea about well known places to get minecraft life solved (that was probably my own dumb fault).600 days later I've learned a lot about this virtual economy. I see and hear from players that their economies on their smp's are just in ruin. Nothing is in stock, rupees are hard to come by since you have to literally talk to other players and convince them to pay you for your item. Players with the great malls get banned, have real life get in the way, just lose interest in the upkeep, or move on to the staff life(thank you staff for your hard work, hang in there!).What causes this lack of economy to persist after the great malls go away? The lack of incentive. There is hardly anywhere to sell anything to anyone. No one takes chances and if they do, they usually try to pay nothing. Everyone tries have the cheapest stuff in stock. I was never quiet sure what made someone else charge less for their exact same product that's worth a lot more (unless good advertising).Keep the prices low everyone says, it's easier for the new players. One issue, is that EMC is growing and get tons of new people. Imagine all that new demand everyday that piles up on the same inventories on the same malls something will give. It's extremely hard for new players to even know their way around (trust me, I've explained a lot to new players and I've been a new player and shopped at empire shop a lot), let alone try to hunt down a shop that has something they need and pray it's in stock. If not in stock, you're begging for it in town chat, or facing the tough wild yourself or maybe a friend or 2. Who wants that? It's not easy, it's super hard and hurts all of us.I rarely see people change prices. By the laws of supply and demand, if no price change occurs and EMC keeps growing (let's hope), all shops/malls will be wiped out in time. You can't buy anything from a place that has no inventory, and who wants to sell something for nothing? Stuff gets hard to find in these economies and a shop is asking one to part with said item for outdated prices when the server was half the size and half the demand?I've been trying my shot at trying to make Empire great. I decided about 200 days ago to open a shop. Since opening I've sold over 12 million rupees in merchandise(thank you everyone!) and I've just about payed all of that back out into the economy. It was really fun and I learned a lot. Tons of work though. Painful mistakes were made along the way too. One thing I've done though whole time though, was listen to supply and demand. My prices usually change on a daily basis (at least on one item or 2). I see the demand rising. You can literally go look at /v +bulk on smp8. I have some "high" prices, yet no one is selling. I have space in my chests and rupees to pay out, yet no one is doing anything about it. So obviously I'm a bit close to fair or slightly under priced myself. I try to find the fair price and create a buy/sell option at that price by the way. That's my goal. It should be everyone's goal. Sellers should be rewarded for gathering the items (sometimes its dangerous), buyers should pay for merchandise (price helps them buy what they need), and market makers should get a cut for providing a nice central place for buyers/sellers to transact and only one person has to be signed on at a time for it to happen and saving everyone time.Since starting, I've raised prices on nearly everything to combat the demand. I can say I've doubled a lot of my prices, maybe tripled a few things from my early shop days. Deflators out there can call that treason and me trying rip everyone off. My answer to that: come sell me your stuff and I'll pay about the same rip off price for it. I've got the space in my chests for it and someone will buy it (sounds like a fair deal to me). If it is not fair and it is a ripoff price, my chests will sit there forever and sell nothing ( I try to avoid this, bad for biz you know).I've seen my shop help so many people. New players have come to me and thanked me for making EMC easier to adjust to and getting them the stuff they need. They can literally chop down oak tree logs and I'll give them like 200r a stack for them. How easy right? That's big money for new players and they can spend that wherever and improve their experience anyway they want with it.Older players have loved my dynamic price finding and low profit margins and have made big money selling stuff to me or have built absolutely HUGE!!! projects. My neighbor recently built a huge redstone clock. I swear it took like 30 dc's of stone which I helped supply, and 5 dc of redstone I feel like, which I also supplied. Go see it. Deceptious's res near mine. 4 players at my shop have spent 200k or more in purchasing materials. 1 player spent 800k. 11 players have sold me over 200k worth of stuff. 1 player sold me 800k worth of stuff. The numbers dont lie, something right is working here.In less than a year, I will have made someone else a millionaire if they keep it up. Just think of the growth we're experiencing on smp8. I couldnt even log on sometimes today it was so full, I didnt see that on other smp's. People want to be where they can make rupees, or money in real life (think big cities and jobs). Your smp can do it too!Shop owners! New and old! Take chances! DO BUYING AND SELLING AT YOUR SHOP SIGNS!!! Throw away price guides and follow what the actual market you created is telling you! You will lose rupees sometimes, I've lost TONS being foolish, and I WILL lose sometimes guessing wrong in the future. I'm okay with that though. It's part of the business cycle. You WILL have your ups and downs if you have any sort of success. But it's OKAY. You're customers got a great deal, you learned something about how the market works and what the real price should be, and hopefully you fix your mistake and help everyone by playing a role in our economy! SMP8 is becoming great! Your smp can be great too!! Lets discuss this! Let's make a change! Let's make our economies great, EMC great!!!Broke players, rich players get into the discussion! I started out with 100k from voting (and various spending to bring me back down to 100k lol). Now you know my numbers and look where I am. Broke players have the new ideas to explore to help us and can become rich if they work hard and do good business. Rich players can make an immediate impact by looking at inventories in shops and adjusting prices to meet market conditions. Perhaps setting up shops for old stuff they have dc's they dont need and charging a fair price for it. Anything and everything helps. We can all do this! Go us!!