Me and some other people have been playing on a town that me and a friend have created. Our currency is paper. We gave each person 2 stacks of paper. People can pretty much do whatever they want. We have no jobs. but everyone can own general stores, and collect their own things to put in their or buy from someone else to put in there. ( You can put whatever you want of yours to sell) well, we don't want to set a distinct price for each item. we want prices to fluctuate depending on the buying and selling. Problem is no one is really buying things to often, for different reasons, mainly as things being to expensive. so someone changes prices. At this point in time. we are at a stand still. no one is making money and no one is losing money. because they all gather it themselves. I started to think maybe jobs, but the people I play with would not like that very much. So any advice would be helpful
actuelly paper is the best thing to use. i have a massive kingdom with about 10 or 15 active players. your 1st problem is letting everybody buy and sell. in my kingdom we have 1 general store. he sets the prices and everybody buys and sells from him. i make sugarcane illegal to grow. only 1 farm is kept and guarded to produse paper for money. the current rate in my kingdom is 150 paper for diamonds, 75 for gold and 25 for iron. so far we havnt had any problems. money goes in and out of the store regularley as he buys valubles and sells them to others. he adjusts the prices as things get scarce and pay people more for said items. anybody is welcome to come and heck out my system if they dont believe me. msg me on xbox and ill be glad to show anybody. jus be sure to mention u want to see my economy. my gt is ghostwolfleader
If you can be 100% sure that nobody has a secret sugar cane farm anywhere on the map, then paper can work as a currency, but i would suggest swapping it out for a resource that is limited and not used for much crafting. The best advice would be to use gold as it is a limited amount of it in your world. Except for the boost-tracks and perhaps clocks, gold is not used for much crafting (Iron is usually a better metal for armor/swords/tools).
People can still go looking for more gold and there will be a steady increase in the amount of currency flowing in your economy.
This means that there should be some inflation in your economy as more gold is found, but at least you wont experience hyper inflation that you will do in a paper economy where someone has a secret sugarcane farm (again, playing with trusted friends removes this possibility).
Nothing stops a player from setting up a temporary sugarcane farm under ground in a remote location, grow a stack or 2, then remove all evidence of the farm ever existed.
Though currency in minecraft is a fun addition to the gameplay, it is not really needed. Trade can easily be based on the basic economic principal of willingness to pay and indifference curves of different resource bundles. Example: "I have 20 iron. I want 2 diamonds. Im indifferent in having 2 diamonds or having 20 iron. I will pay a price of up to 20 iron for 2 diamonds".
(Tips: you dont have to tell your trading partner your maximum willingness to pay while your trading together)
As long as there is dup glitches no economy system will truely work unless all players are honest(impossible). Gold and diamonds are probably the best form of currency. And having fewer stores that buy and sell would help it gives players a way to work and make money without having a strict job.
As long as there is dup glitches no economy system will truely work unless all players are honest(impossible).
This. If I were in the world, I'd be the richest one there. hehe Except if I was friendly with the players I wouldn't cheat because that takes all the fun out of it and makes enemies out of friends, something I'm not all that fond of.
Paper lol even if I have 1 piece of sugar cane I can grow it under it under my wheat farm in my house and place it in a chest down in a hole. Then block my door when I harvest. Might even surround it with obsidian lil just like in real life paper money is subject to counterfeit. Might as well make it wool or brown wool or if you have catus. In your world green dye.
I think the President of the town should have the sugar cane farm.2 other players will check on it to make sure the president isnt stealing. And the Citzens should elect a person to control the City store and and city resraunt 2 diffrent people. while the player at the store will pay miners to mine the resources 5 pappers per day. and people buy resources at the store. the store will pay 1 papper per day to the city for tax. and pay the president 2 per day.
Store owner will start with 10 pappers to get the economy started.
The food restraunt will not have any workers unless they want! they will pay 1 papper for tax to the city. and 2 to the president
my advice is that u should play like that cuz people can just take whatever they want and there can only be 8 people in 1 world, so ur not going to do much. shops and things like that r only for the pc for they r the best and thay can have mods
Well, I have hunted down and taken all the sugar cane on the map. Or most of it anyway. if you find any then You can turn it in. and ill give you like 1 or 2 paper. and if you do decide to make a secret sugar cane farm you better not get caught. Thanks for all the advice everyone. I appreciate it.
I did this right when I finished building the town. I don't want you guys to think I am a total Idiot.
If you could collect all of the sugar cane before hand and protect your farm then paper would be one of the best currencies. Although it can be hard to search the entire world to find all of the sugar cane. Oh, and also you would have to not sell sugar cane.
well to reply and rebutt, the king is the only player that can have a large sugarcane farm. i have guards that activly patrol and search peoples houses and guards accompany people into the wild. any player caught with sugarcane are kicked and banned and their possessions are seized by the public. as a few of you said it works best if you play with trust worthy people. which i do. just inforce your rukles and dont be afraid to kick people.
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Iron= $2
Gold=$4
Diamonds+$8.
People can still go looking for more gold and there will be a steady increase in the amount of currency flowing in your economy.
This means that there should be some inflation in your economy as more gold is found, but at least you wont experience hyper inflation that you will do in a paper economy where someone has a secret sugarcane farm (again, playing with trusted friends removes this possibility).
Nothing stops a player from setting up a temporary sugarcane farm under ground in a remote location, grow a stack or 2, then remove all evidence of the farm ever existed.
Though currency in minecraft is a fun addition to the gameplay, it is not really needed. Trade can easily be based on the basic economic principal of willingness to pay and indifference curves of different resource bundles. Example: "I have 20 iron. I want 2 diamonds. Im indifferent in having 2 diamonds or having 20 iron. I will pay a price of up to 20 iron for 2 diamonds".
(Tips: you dont have to tell your trading partner your maximum willingness to pay while your trading together)
This. If I were in the world, I'd be the richest one there. hehe Except if I was friendly with the players I wouldn't cheat because that takes all the fun out of it and makes enemies out of friends, something I'm not all that fond of.
Store owner will start with 10 pappers to get the economy started.
The food restraunt will not have any workers unless they want! they will pay 1 papper for tax to the city. and 2 to the president
I did this right when I finished building the town. I don't want you guys to think I am a total Idiot.