Exchange Rates

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Nonebutone
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Exchange Rates

Post by Nonebutone » Wed Mar 05, 2014 4:16 pm

So now that we have had the server up and running for a while, and the economy has started to become established, Here is some exchange rates I'm willing to do on any items I'm selling

1 Diamond = 8 Iron
1 Iron = 2 Gold ( 1 Diamond = 16 gold)
1 gold = 4 Lapis (1 Diamond = 64 Lapis)

Other exchanges:
1 Diamond = 4 Emeralds


Aka: If I'm trying to sell an Lava bucket for 1 Iron Ingot, you can pay 2 Gold, or 8 Lapis Insead. Or get 8 Lava buckets for a Diamond.


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Re: Exchange Rates

Post by SkragaDaBoss » Wed Mar 05, 2014 4:50 pm

At first I thought you meant we could pay you 8 iron for one diamond.
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destuctir
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Re: Exchange Rates

Post by destuctir » Wed Mar 05, 2014 5:42 pm

hello. i know i am not yet in the server (and worryingly might never) but i believe there is an official exchange that has taken many people a lot of number crunching to calculate based on spawn rate and uses. ironically, i failed to find it on a quick google search but it is all based around everything having an equivalent value to golden nuggets.

i failed to find the exact document in question but these might help:

http://www.sk89q.com/2011/10/economy-in ... minecraft/
http://minecraft.gamepedia.com/Trading


good luck with the currency/exchange rates. hope to see you all soon

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Superior Man
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Re: Exchange Rates

Post by Superior Man » Thu Mar 06, 2014 12:31 am

I remember an equivalent exchange rate from watching videos with Tekkit mods, but I'm sure None can't be denied defining his own personal rates. :)
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miniwargaming
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Re: Exchange Rates

Post by miniwargaming » Thu Mar 06, 2014 4:38 pm

Shouldn't it be that gold is worth more than iron? I find it way less often.

I would 4 gold = 1 iron.

Thoughts?

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Re: Exchange Rates

Post by destuctir » Thu Mar 06, 2014 6:55 pm

i would want to agree matt, that gold is rarer so should be worth more. but a counter is that iron is so much more useful than gold. its trying to strike a balance between how rare something is and what its good for. would you class birch as more valuable than oak? both are functionally identical but birch is rarer, doesn't make it more valuable, unless its for design, which gives it unique value to you. its a really difficult thing to figure out.

i actually suggest using the real world economy system, you make a currency (matt can creative in a block/item that no one could get any other way perhaps?) and those are your currency, you get a set number per say gold ingot, people exchange gold for currency, so the currency is worth as much as the gold that is stored for it (so if some is lost the currency becomes more valuable and [prices will drop as a result) then you simply allow things to naturally evolve as people create standard prices between themselves and those spread until everyone knows the prices of things and changing them is exceptional.

the only reason you use a fake currency with gold backing it instead of gold directly is that if you use gold directly it is hard to track how much exists, were as if you use a currency you can compile all gold into one spot and constantly watch how much it is worth, so when people eventually spot currency disappearing (aka, everyone begins to run out and no one knows who has it all) the value of that currency rises so your own gold you have stored becomes more valuable and you can trade it in and get more currency that is worth more again.

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Re: Exchange Rates

Post by Superior Man » Thu Mar 06, 2014 7:57 pm

miniwargaming wrote:Shouldn't it be that gold is worth more than iron? I find it way less often.

I would 4 gold = 1 iron.

Thoughts?
Sounds reasonable. The only thing more rare then Gold seems to be Emerald.
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Andyman161
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Re: Exchange Rates

Post by Andyman161 » Sun May 25, 2014 2:54 am

my thoughts on this are a slightly different to normal currency,because I'm wishing to make an iron forge,(Salamanders based) if I get the privlige of joining such server,I would like to sort out this currency.so if it were 1 iron for 4 gold,would that mean it would be 1 golden apple for 2 iron?,just thinking of this because we might have to have a trading shack or something of the type,and this currency is not my best fortay,thanks and bye

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Krob678
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Re: Exchange Rates

Post by Krob678 » Sat May 31, 2014 8:22 pm

Currency is broken due to iron farms

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Re: Exchange Rates

Post by Andyman161 » Sat May 31, 2014 10:16 pm

we could just use gold and emeralds and diamonds,or just gold and diamonds,unless you just use the iron and gold farms for making decorations such as blocks and using them for beacon towers

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Krob678
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Re: Exchange Rates

Post by Krob678 » Mon Jun 02, 2014 7:33 pm

gold and emeralds are broken due to gold farms and emerald farms as well. HAHA we kind of ruined any economic system.

destuctir
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Re: Exchange Rates

Post by destuctir » Mon Jun 02, 2014 7:36 pm

diamond is literally all we got, but people dont like trading diamonds because you deserve way more than you need half the time, and the rest of the time the seller would need to give more than he has for a fair trade

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Re: Exchange Rates

Post by Andyman161 » Tue Jun 03, 2014 4:56 am

how about we have a weekly tax on emerald,gold and iron farms,for example,it would depend on the size of the farm and the item production rate of such farms,so if I were to build a four spawn pad iron farm,depending on the size,say 20X 20,it would be about 20 iron blocks tax rate per a week.

again it also depends on the income and what you use them for,I would just use mine for iron tools and beacon setups and not so much as a easy way out of getting cash,how about we decide on the item being traded at that time,as in meaning if two people agree on a trade it goes ahead,but if they don't,it does not.simple trading.and we could use iron blocks and emerald blocks with normal diamonds,do any of you get what I'm saying?

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Krob678
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Re: Exchange Rates

Post by Krob678 » Tue Jun 03, 2014 6:25 am

Not sure i would want to implement something like that. We kind of gave up on a economic system. Diamonds are the only non farmable item. Also with as slow as the vanilla server is who would collect or pay? I know not paying a tax on my two iron farms or on my gold farms.

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Re: Exchange Rates

Post by Andyman161 » Tue Jun 03, 2014 4:24 pm

we could also use obsidian blocks,they are long to farm and would be an alright currency

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