Tell me about them. If you don't use them, it isn't necessary to chime in and say "I don't use currency because it's stupid!" We already know you're too good for currency by not posting in this thread, tough guy.
Anyways, how do you keep everything balanced, or are we all just 14-year-old kids with no concept of how currency is supposed to work?
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"When you play the game of thrones, you win or you die."
But on a serious note. We use a bartering system. An item's value is based on its rarity. But we also trade jobs for jobs and jobs for items. I wouldn't say it's complex, I'm just not motivated enough to describe every detail.
Paper is the best ive used. Ive used different items and blocks that represent values, but paper always comes out on top because its simple, effective and you can prevent people from farming it by removing all the wild sugar cane. The only problem now is dupers. Im okay with duping if your going for a huge build on a solo world or a world where everyone can dupe, but on servers with currency its terrible.
I use the Bullion-Credit system, and it has been working perfectly ever since I created it. I am too lazy to paste down the details, so just Google it (the third result). That makes it famous!
I don't see the difference in your method compared to just issuing a currency and assigning value.
Paper is the best ive used. Ive used different items and blocks that represent values, but paper always comes out on top because its simple, effective and you can prevent people from farming it by removing all the wild sugar cane. The only problem now is dupers. Im okay with duping if your going for a huge build on a solo world or a world where everyone can dupe, but on servers with currency its terrible.
That is the bane of currencies' existence, but hopefully they will patch it soon.
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"When you play the game of thrones, you win or you die."
Hey i use this method: red stone 5$ lapis 10$ Iron 25$ Gold 50$ Diamond 150$ Obsidian 200$ hope this helped by the way my GT is DoctorTb0nes i can show you a map were this method is used, thank you
The only real difference from currencies like paper is the method of collection. Paper can only be collected by a government source (to start). Gold and Iron are both given and findable.
That could be a hindrance, however, seeing as how those materials are finite. Unless you're going to dupe, your money source isn't replenishable and that could severely affect the valuation of your currency.
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"When you play the game of thrones, you win or you die."
Also, I believe that valuation of currency seems more of a problem if it is easily regenerative.
It can be, depending on how you balance. Assigning a standard and then occasionally reevaluating the value of your currency is the best way to avoid inflation, however. If you need to balance anything, you simply lower or raise the value of your standard, then factor in the variables like real estate value, labor cost, etc.
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"When you play the game of thrones, you win or you die."
There will never be gradual inflation (inflation isn't always a bad thing, either, but that's for another discussion) if you're properly managing your currency. Again, like I said all you need to do is adjust the valuation of your standard and then remove some currency from circulation and then BAM, you're in the clear. Also it helps with paying people to do jobs. If they can make more money mining for a few hours than they can working for the city, what use is currency? No matter what, you'll periodically have to reevaluate the worth of your currency; in your case, it'll be because of scarcity. Your currency will be constantly fluctuating because there's no central hub controlling the valuation.
Divest in my world only the government workers (co-founders of the map usually) mine and the money is always circulating just like a modern economy so there really isn't a point in changing the currency a bit
First of all genius well.....my town has taxes which is that everyone has to have a bank account and every week
(mc days) they charge a certain amount which goes to the government and then is once again in the circulation but you guys got a point about the "anything can slip through" so you have to have your currency in the bank and when you work as the farmer and provide food for the city and you bring in a large amount of money we know something is up and the police can search the house and if caught can be sent to prison and heavily fined. i was thinking with all these ideas bouncing back and forth we should start a server thats like a city thank You
btw i use redstone although it is electricity as money because in the real world lots of cool electric stuff (auto wheat, electric doors, etc.,etc.) are also expensive
The reason "currency system" works in real life is because its been established for hundreds of years, but even then monetary system is more of a guideline than a rule. You and I can go to the same car dealership buy the same exact car and pay two different price.
Point is, having currency system in minecraft will be difficult to "set in stone" (so to speak), because what you find valuable will never be what everyone else find valuable. For me, at the current state of minecraft, redstone is more valuable than diamond and gold. Might sound crazy to you, but like I said what you perceive as valuable isn't necessarily valuable for me.
Not meant to be patronizing.. just my 2 cents on currency in a game.
My suggestion is let players just do trade for trade, much simpler and will definitely be a lot more easier for everyone to agree with.
I can assume this works if you do taxes to remove money from the circulation. If that is the case, then it probably works. The problem is that anything can slip through constant monitoring. Unless you know the exact wealth of every citizen, an inaccurate tax will be given at least once. Therefore, inflation can occur, but at an extremely slow rate.
No matter what your currency is, you'll have to remove currency from circulation. With iron and gold being used as currency, money is constantly being removed from circulation because those items have other purposes. And as I said, inflation isn't always a bad thing, especially not in a growing economy. The trick is to find the balance, which is why I don't impose taxes which create more bureaucracy to deal with. I'm not trying to implement the IRS into my server, really. Also, money can be decirculated any time someone purchases real estate from the government, if that money isn't placed into a reserve (which for record keeping purposes, it really should be).
By the way, what do you mean by "adjusting the value of your standard"? Bringing the default price down?
By adjusting the worth of your paper per diamond, or the price that the reserve is willing to issue currency per resource. You can move it up (to create inflation) or bring it down (to deflate the economy).
I mention in every post about the Bullion-Credit system that the opposite happens. Perhaps someone with a fully enchanted Diamond Pickaxe can beat a successful entrepreneur, but that is difficult to obtain.
The problem is that you've already assigned a value to the resource, though. If it's fixed then the market has no affect on the currency, which can create problems, especially when your value will be technically fluctuating because people will be constantly removing currency from circulation.
Agreed. However, I believe that the BCS requires that much less often.
Well any system where 'X' is the value of a specific resource is fixed will require a lot less adjustment.
You are thinking too far ahead. Has anyone actually emptied the entire subterranean lands of Gold and Iron?
Well we're running a long term map. In a server that's relatively new and short-lived, the currency system won't matter. Currency system are only appropriate for long term servers, if you want it to actually function correctly. On my map people haven't quite mined the whole map, but it's getting to the point where we're not pulling in ores as quickly as we were. We can see the amount of coal, red stone, and iron that was coming in slowly decrease.
Point is, having currency system in minecraft will be difficult to "set in stone" (so to speak), because what you find valuable will never be what everyone else find valuable. For me, at the current state of minecraft, redstone is more valuable than diamond and gold. Might sound crazy to you, but like I said what you perceive as valuable isn't necessarily valuable for me.
That's where the market comes in and sets the price for those ores. If the majority of the market agrees with your sentiments then the price of redstone will eventually climb until it's worth more than diamond. If not, then you have plenty of diamonds to trade so you can swim in your Scrooge McDuck pool full of redstone.
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"When you play the game of thrones, you win or you die."
Gold is basically useless for the average citizen, and Iron is taught to not be used commonly in my metropolis. Stone tools are for the poor, and Diamond tools are for the middle class.
That's odd phrasing you're using by saying you're teaching your server anything. I don't need to "teach" my server the value of a particular ore; it's set by the market.
Define "fixed." The market changes the value of resources under command of supply and demand. I believe that you are in the mindset that the government should do this instead of the people. Although you think my value is constantly fluctuating, it has remained stable with the people using other things.
I'm not saying your value is constantly fluctuating, I'm saying that it should be constantly fluctuating but you're not making adjustments to your fixed credit system. It'd be impossible to know how much money is circulating at any given time as well, considering that a lot of it is being used as tools and other things. If they're not using them as tools, then they're being limited in their options.
Agreed. What does a paper system have that the BCS does not?
Flexibility and value. By assigning a set-value to ores, you're limiting yourself in the currency. Basically, your credits are backed by absolutely nothing. The idea of a standard is to set it up so that if everyone wanted to turn in all their cash at once, they could easily exchange it for whatever your standard is. If that's not the case, then your currency has very little value other than novelty.
It is not that I want my server to be short-lived, but I think that no one has ever emptied an entire 864x864x30 area of all resources. Even if it does happen, I will probably use Creative Mode to place down some more ores in forgotten caves and other places that are above the rare metal finding layers.
It's not about being completely empty. It's about difficulty. Here's an analogy:
Let's say you're digging a hole in the ground and you're getting paid by the hour to do so. The first person who digs is going to go through soft dirt, maybe some mud, and light materials. After awhile, the second person is going to have more difficulty; they're going to have to dig through stone and use heavier tools which take considerably more effort and energy to yield. Should both people get paid the same amount of money? If you say yes, you're screwing over the second person horribly.
It's the same the way with resources. At first, you can dig a tunnel underneath your house to find diamond. After awhile, it becomes considerably more difficult to find resources and you have to travel further and mine for longer. Yet you're still only getting the same fixed amount of credit per resource. This is going to cause people to circumvent currency altogether and straight barter, especially if there's no real estate to be purchased with the currency.
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"When you play the game of thrones, you win or you die."
Nether-rack.. There's plenty of it, and with a few rules regarding no nether access, it can be controlled by the host rather easily.
Not really! Easilly goto any corner of the map, dig to bedrock and make portal there, cross over and get netherack! Once done make sure to destroy portal in nether and rebuild inside of netherack mountain nearby! When you get back toss water on portal so no sounds emenate from portal! Pillar back up and cover hole! As long as you started digging in the corner, you can find it again!
Not really! Easilly goto any corner of the map, dig to bedrock and make portal there, cross over and get netherack! Once done make sure to destroy portal in nether and rebuild inside of netherack mountain nearby! When you get back toss water on portal so no sounds emenate from portal! Pillar back up and cover hole! As long as you started digging in the corner, you can find it again!
Host creates portal in corner, user creates portal in another corner. 2 portals in the nether now. Major redflag to host.
Anyways, how do you keep everything balanced, or are we all just 14-year-old kids with no concept of how currency is supposed to work?
But on a serious note. We use a bartering system. An item's value is based on its rarity. But we also trade jobs for jobs and jobs for items. I wouldn't say it's complex, I'm just not motivated enough to describe every detail.
I don't see the difference in your method compared to just issuing a currency and assigning value.
That is the bane of currencies' existence, but hopefully they will patch it soon.
That could be a hindrance, however, seeing as how those materials are finite. Unless you're going to dupe, your money source isn't replenishable and that could severely affect the valuation of your currency.
It can be, depending on how you balance. Assigning a standard and then occasionally reevaluating the value of your currency is the best way to avoid inflation, however. If you need to balance anything, you simply lower or raise the value of your standard, then factor in the variables like real estate value, labor cost, etc.
(mc days) they charge a certain amount which goes to the government and then is once again in the circulation but you guys got a point about the "anything can slip through" so you have to have your currency in the bank and when you work as the farmer and provide food for the city and you bring in a large amount of money we know something is up and the police can search the house and if caught can be sent to prison and heavily fined. i was thinking with all these ideas bouncing back and forth we should start a server thats like a city thank You
btw i use redstone although it is electricity as money because in the real world lots of cool electric stuff (auto wheat, electric doors, etc.,etc.) are also expensive
Point is, having currency system in minecraft will be difficult to "set in stone" (so to speak), because what you find valuable will never be what everyone else find valuable. For me, at the current state of minecraft, redstone is more valuable than diamond and gold. Might sound crazy to you, but like I said what you perceive as valuable isn't necessarily valuable for me.
Not meant to be patronizing.. just my 2 cents on currency in a game.
My suggestion is let players just do trade for trade, much simpler and will definitely be a lot more easier for everyone to agree with.
No matter what your currency is, you'll have to remove currency from circulation. With iron and gold being used as currency, money is constantly being removed from circulation because those items have other purposes. And as I said, inflation isn't always a bad thing, especially not in a growing economy. The trick is to find the balance, which is why I don't impose taxes which create more bureaucracy to deal with. I'm not trying to implement the IRS into my server, really. Also, money can be decirculated any time someone purchases real estate from the government, if that money isn't placed into a reserve (which for record keeping purposes, it really should be).
By adjusting the worth of your paper per diamond, or the price that the reserve is willing to issue currency per resource. You can move it up (to create inflation) or bring it down (to deflate the economy).
The problem is that you've already assigned a value to the resource, though. If it's fixed then the market has no affect on the currency, which can create problems, especially when your value will be technically fluctuating because people will be constantly removing currency from circulation.
Well any system where 'X' is the value of a specific resource is fixed will require a lot less adjustment.
Well we're running a long term map. In a server that's relatively new and short-lived, the currency system won't matter. Currency system are only appropriate for long term servers, if you want it to actually function correctly. On my map people haven't quite mined the whole map, but it's getting to the point where we're not pulling in ores as quickly as we were. We can see the amount of coal, red stone, and iron that was coming in slowly decrease.
That's where the market comes in and sets the price for those ores. If the majority of the market agrees with your sentiments then the price of redstone will eventually climb until it's worth more than diamond. If not, then you have plenty of diamonds to trade so you can swim in your Scrooge McDuck pool full of redstone.
That's odd phrasing you're using by saying you're teaching your server anything. I don't need to "teach" my server the value of a particular ore; it's set by the market.
I'm not saying your value is constantly fluctuating, I'm saying that it should be constantly fluctuating but you're not making adjustments to your fixed credit system. It'd be impossible to know how much money is circulating at any given time as well, considering that a lot of it is being used as tools and other things. If they're not using them as tools, then they're being limited in their options.
Flexibility and value. By assigning a set-value to ores, you're limiting yourself in the currency. Basically, your credits are backed by absolutely nothing. The idea of a standard is to set it up so that if everyone wanted to turn in all their cash at once, they could easily exchange it for whatever your standard is. If that's not the case, then your currency has very little value other than novelty.
It's not about being completely empty. It's about difficulty. Here's an analogy:
Let's say you're digging a hole in the ground and you're getting paid by the hour to do so. The first person who digs is going to go through soft dirt, maybe some mud, and light materials. After awhile, the second person is going to have more difficulty; they're going to have to dig through stone and use heavier tools which take considerably more effort and energy to yield. Should both people get paid the same amount of money? If you say yes, you're screwing over the second person horribly.
It's the same the way with resources. At first, you can dig a tunnel underneath your house to find diamond. After awhile, it becomes considerably more difficult to find resources and you have to travel further and mine for longer. Yet you're still only getting the same fixed amount of credit per resource. This is going to cause people to circumvent currency altogether and straight barter, especially if there's no real estate to be purchased with the currency.
Not really! Easilly goto any corner of the map, dig to bedrock and make portal there, cross over and get netherack! Once done make sure to destroy portal in nether and rebuild inside of netherack mountain nearby! When you get back toss water on portal so no sounds emenate from portal! Pillar back up and cover hole! As long as you started digging in the corner, you can find it again!
Host creates portal in corner, user creates portal in another corner. 2 portals in the nether now. Major redflag to host.