Reborn Minecraft Economy

[Neo]

Kso here's the issue:

We've all agreed that gold nuggets are to be our currency, so that's no biggie. The issue is, are we going to have base amounts set up? Will gold ingots come into play as a higher form of banking? Will we have a central bank? Will there be an automated transaction system? Will we have a server based market for supplies? All of these questions and many more need to be answered if we are to move forward with our economy.

[Maelstrom]

Inb4recession.

>>

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[TheOneAndOnlyEnigma]

Now time for all you guys to not let me get any money due to what I did.

[Cloud]

Just what's on my mind right now: there should be a central bank that is the source of all of the gold nuggets. There should also be local banks spread around the land, as we all live at different distances away. For instance, most of us live near Ame's Castle, but some, like Poe, Winter and Kyu, live much farther away so they should get a bank somewhere in their locations. Those local banks would be supplied by the main bank at every x date at x time by x person. If the bank runs out of money, blah blah that'd be handled by notme. Anyway, I think that's how it should work. That's just a base idea since I'm not the best with money anyway, so someone else should figure out a more advanced plan.

[TheOneAndOnlyEnigma]

Just what's on my mind right now: there should be a central bank that is the source of all of the gold nuggets. There should also be local banks spread around the land, as we all live at different distances away. For instance, most of us live near Ame's Castle, but some, like Poe, Winter and Kyu, live much farther away so they should get a bank somewhere in their locations. Those local banks would be supplied by the main bank at every x date at x time by x person. If the bank runs out of money, blah blah that'd be handled by notme. Anyway, I think that's how it should work. That's just a base idea since I'm not the best with money anyway, so someone else should figure out a more advanced plan.

Yeeeeah but deviant thieves --like me, jk-- might rob them.

[Amethyst]

What would even be the point of a bank?

/ a standard rate?

Economics aren't powered arbitrarily. The value of a currency is only relative to the individual person. The real value comes in with what else can be done with that amount. In other words, we need to just use the currency more that way there is more else to be done with it, and in doing so the economic opportunity cost is established, giving it the base value.

[Guest]

my bank is my inventory

[Eternal Edge]

My bank is /give schflame1991 [item code] 64

[Neo]

Inflation causing Edge.

[Guest]

--stealing also causes inflation due to replacing missing items that are actually in ones inventory aka stolen--

[Maelstrom]

This is that part in skyrim where I break into the houses/banks at night and sell it back to the owners you guys during the day.

[Eternal Edge]

If there is not economy there is no inflation \o/

[Maelstrom]

As long as someone has what someone else wants, there will be economy. =P

[Eternal Edge]

As long as I have infinity of everything.. >>

[Cloud]

Or we can be good little boys and girls and trade what we find for what we need.

We had an activity in a social economics class (I still cba to figure out economy lmao) that required seven groups of people with different items necessary for survival to trade between each other. The purpose of the trading was to fulfill a quota of things that each group also needed as opposed to what they had. They used the items that they owned to trade with other groups that needed x amount of x material, such as corn and water. There were two groups with nuclear accessibility; one with warheads and one with the technology itself, but in reality it was all the same. In the end, some groups ended up bombing each other, forming a definite alliance, forcing country merges, etc. The whole point of the activity was to see if we could realize that we could end up living together by simply giving each other what we needed with no superfcial extremities, loose ends or reprimands.

Let's just share like we have been; screw the currency. 8D

[Guest]

economy pls

[Neo]

Sharing works until people begin to expect it for everything. With currency, both parties are getting something out of it. One is getting money for their surplus supplies, the other is getting supplies they don't have.

[Cyrus]

This is that part in skyrim where I break into the houses/banks at night and sell it back to the owners you guys during the day.

Do you put buckets over their heads?

[Cloud]

Sharing works until people begin to expect it for everything. With currency, both parties are getting something out of it. One is getting money for their surplus supplies, the other is getting supplies they don't have.

If both parties need something, they could find someone with it.

[Guest]

no economy is best economy

[Neo]

If both parties need something, they could find someone with it.

What does the person who is giving their stuff away get out of it? A warm feeling? Their needs to be some sort of way that everyone benefits. Sure you could say "Well, that person can do something for them later", but I'd rather get something where I can get more things. More things mean more trade. More trade means more circulating items. More incentive for people to work for their rarities. Which they can then in turn sell and repeat the process.

[Ikaru]

What does the person who is giving their stuff away get out of it? A warm feeling?

To be fair that IS generally the reason I give something to someone when asked to, knowing it's something they want

But I can't really give an actual reply to this because I look at this and wonder how something like an economy even works in Minecraft

[Voctrode]

Meanwhile Economy plugins exist

But anyway