This is not a gloom and doom - sky is falling thread. The facts are that the recent changes to the LWC system will affect our economy greatly. Plan now for the date that chests and the contents are open for all to take from. Understand that on those first few days, the economy will experience probably the worst possible turmoil that it has ever went thru (unless changes are made before then). Many prices (especially NStars) will fall drastically since there will be a major influx of items being sold. Prepare by keeping a close eye on your items you have for sale or for items you buy (especially shop owners). Make sure to check all of your locks (yes, I have even been looted). Stop Looting! (until January)
lol I can't believe someone actually stole from you Admiral Thanks for letting the community know though!
Thanks Block for the concern. It was a small outpost I used - not much of value. There was just not enough time to get to all the locks (doors, chests, etc...) before the looters got fired up
Consider this, one vote site dropped the value of nStars down about $100 each. This looting spree could put hundreds, if not thousands, of nstars on the market within a day or two. And this is just one example, the same holds true for the amount of emeralds, diamonds, lapis, redstone, etc.... I believe that the market will be affected.
Not exactly economic turmoil though - Having the price of nether stars dropping will reduce the gap between the rich and poor and make it easier for some players to get star tools. That might actually be beneficial somewhat - Please be aware though, I'm not trying to justify the massive looting going on, rules are rules - I'm just saying that the economic effects aren't as terrible as you claim they are. As for the ores, those will be sold to the server, and will be spent on other things, thus actually increasing prices somewhat. I'd say it's too early to see the economic effects of that - if you want to check on them, you should check out the going prices for items that fluctuate based on player demand - EXP, nether stars, ebooks and emeralds. Nether stars and emeralds price will probably decrease as many more of those items are entering the market, which leaves us with two other markets prone to inflation - EBooks, and EXP prices - those are the markets that are at most risk of future inflation and that we should be watching. I do however think that, a thread called "How to prepare for economic hard times" is more of speculating if anything, and we can't really say there will be any "economic crisis" unless if we actually see the effects first.
Yeah but diamonds lapis redstone wont go into the server it wil just become money and not enough to effect the already ridiculous amounts of money in circulation. Also, nstars droped cause of vote 4 mainly because everyone knew that there are now x% more nstars. People will have no clue exactly how many nstars will be looted.
Your points are well taken, which is why I started this out with the statement about it not being doom and gloom. I still stand by my statement that those first two or three days of massive looting will be the biggest economy change that I am aware of on ECC. Of course we will survive. I also never did call this a crisis, only trying to warn players to prepare for changes that are coming. Reducing the gap between the rich and the poor, as you put it, is so very simple. Work hard, earn money, and spend well. This is a hardcore economy server and there is always going to be a gap since some players think they should be able to come on and have every thing that others have worked many hours for. Really want to reduce the gap? Inform players that to be wealthy requires effort. Teach them to spend well and not lotto their money away. Tell them to stop trying to take the easy way out.
I dont think it will be too bad tbh, Being Nstars are higher then last year respectively, sure it will dip for a short period because everyone will want to get rid of nstars and star tools. Everything else will not really change in price.
My point is, there will be changes, I can assure you that, but I don't think they'll be that major. To your point about the gap between the rich and poor, my point was that the high price of star tools increase the gap, making it so it's very hard for players - even when working hard - to get star tools, especially when the price keeps increasing in the long run - You'll notice that these recent price decreases are just short term mostly and the market will adjust accordingly. Players whom already own star tools have access to a large money maker, something that players who don't own them don't have access to, create a sharp divergence in income between the rich who own star tools and the poor who don't. You'll also notice that richer players also tend to consume large amounts of nether stars to get even more star tools, thus increasing the price of the nether stars and their own personal wealth while making it harder for those who don't own star tools to get a star tool - Not something that we should be aiming for tbh. The economy should be working for all people, not just the very wealthy who have lots of star tools and nether stars.
Probably true as long as the server does not have to nuke prices like they have before. Already hundreds of nstars have been found (and looted) before it is even legal to do so. Simply take a look at the complaint section to see the amount of items already taken.
The cost of star tools will remain depressed simply because of the addition of the fourth vote site, which overall increases the amount of netherstars in the market. With this, netherstar prices will go down as they are more readily available. I seriously doubt the market for netherstars will increase for a long time.
From what I've heard from other players, when we had 6 voting sites, the nether star price was $600. To be honest, given how large the market is and how much demand there is for nether stars, the market will adjust itself.
From what you "heard". I don't ever recall $600 netherstars, ever. Maybe when they were first released (which I highly doubt), but they used to go for about $250 a pop, but no where near the $600 you claim.
I have to disagree on this point. Star tools will still be too expensive to get for the poor, so this would not really help them. On the contrary: the main income of beginners are nstars gotten from voting, and their decreased value would impair their buying power.
I'm defining the "poor" here as users who don't own star tools - You can be classified in this group if you rely on max tools for the most part - a very broad classification. I'm not just referring to builders who just started. Anyway, nether stars are only a secondary source of income - your main source should and should always be from mining, farming, ect. - not from voting. Anyway, people can only get 4 stars per day where areas rich have hundreds if not thousands of them stored away in the from of both stars and tools
Good time to buy another startool, it's enable that the nstar market is going to fall... The only thing we don't know is how much the market will fall - could be $30, could be $130
