Possible Reforms to ECC and What They Would Entail

Discussion in 'General Discussion' started by _Chief_Sosa, Jan 7, 2018.

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  1. _Chief_Sosa

    _Chief_Sosa Builder
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    I'm not sure if this or the suggestions section is best place for this, so apologies in advance. I'm also not advocating for any of this, just giving my analysis. Was inspired to write this by @pokeball92870

    Market Reforms

    1) Eliminating /Sell


    Pros:
    Best way of getting rid of inflation since over-abundant blocks and materials won't be sold to an unlimited demand source. This also means that materials price materials would reflect their true price demanded by users. It would also encourage more player 2 player transactions since that would be the sole source of income.

    Cons: This would be one of the most disruptive changes and would require a lot of patience for users to adjust to an entirely new kind of economy that centers solely around P2P transactions. Secondly, while it would do a lot to correct inflation it would come at the cost of fixing the money supply so the server would be unable to inject new money if it wanted to. It could also make it harder for new users to make money quickly. Would require the elimination of the server shop so that there's no price ceiling on materials and allow markets to clear more easily.

    2) Eliminating the server shop

    Pro: Like eliminating /sell this would encourage even more player to player to transactions since that would be that the sole way of money. Since it both gets rid of a price ceiling and removes a near-infinite supply, it would be stimulative in that it would incentivise more users to produce more goods in order to satisfy demand. Would NOT require eliminating /sell. Less disruptive since most people try to avoid buying from the spawn shop anyway. Gives more dynacism and increases the economy gameplay as users will actually have to grip more with scarcity

    Con: Scarcity, maybe we don't want to really mimic a real world economy.

    3) Getting rid of pay for perms

    Pro: This would be stimulate supply side since perm access is regulatory.

    Con: A lot of people have donated for their perms so its unfair to them. Gets rid of a source of income for the server. Very likely it wouldn't do much to stimulate.

    4) Legalizing Exchange Markets (allowing direct cash to ecodollar exchanges between players. Got this idea from The Game Theorists, scroll down for video)

    Pro: A great way to curve inflation as it gives a new avenue for money to leak out but also provide a new source of income for users. Exchange markets are also a great stabilizer to prevent too much inflation or deflation as money can be taken out or be brought in based off market perceptions.

    Cons: Could encourage "pay to win." Discourages an avenue for the server to make money.

    5) Commodity Standard Money (Nether Star Standard)
    What this would be, is having money being backed by an ingame commodity like gold, emeralds, or nstars. I think Nstars would be the best option since they are the least accessible and would require people to promote the server by voting. This would sort of require the elimination of the servers monopoly on money in the sense that ecodollars wouldn't be able to exist since they're nothing but a digital number. The mechanics of being able to go to the server and demand that my ecodollars be exchanged for nstars. If I'm wrong about this then ignore everything that has an asterik*)

    Pro: Would prop up the banking industry since they would serve a greater role as a financial intermediary and most likely the issuers of paper money*, greatly promote the server, and would be great at stopping inflation. Would prop service industries since transactions would have to be face to face.*

    Cons: Elimination of ecodollars.* Possible issues between transitioning from ecodollars to Nstars.* Bank Runs.* Greater risk of players losing their money. Makes exchanges more trivial without /pay.* Would require eliminating /sell and trade signs (and by consequence the server shop).

    UPDATE: It just occured to me that you could just have the server make a trade signs that exchange nstars for ecodollars instead of xp. I overthought this lol. Completely disregard everything with an asterik unless you want to get rid of ecodollars

    My Thoughts

    I would be really interested in seeing if we could get rid of the server shop and have ecodollars but make them backed by nstars. I think that would definitely spice things up without requiring too much patience. Eliminating /sell also seems interesting to me but would require a lot of input from players

     
    #1 _Chief_Sosa, Jan 7, 2018
    Last edited: Jan 7, 2018
  2. Redpandapenguin

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    With out that what would people do to make money? No one would even pay a dollar for iron, a cent for melons or barely anything. This would require down pricing ranks because even resident would be hard to get. I have to say it would be interesting but this would ruin ECC.
     
  3. _Chief_Sosa

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    It's cool i fixed it now. Take a look!
     
  4. Scamazon

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    Damn this is some @314 material here...

    In all seriousness I think that keeping the economy the way it is would be best, things like eliminating /sell would simply break the economy.
     
  5. andrewkm

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    Literally none of this would ever happen. Sorry dude.
     
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