Very interesting thread! I'd like to hear more from you in the future. :)

 

A good read, perhaps change the font colour to something more read-able though; maybe a lighter grey or yellow. :p

 

Informative and interesting concept for you first day on the server. NStar prices are one of the best examples of our ECC economy at work. Usually the prices skyrocket when Star Tools are wanted or there is a medal contest between a couple, or a few users. The demand increases, the supply decreases and the prices rise! Perfection. The same happens at different times on experience, ores, quartz, and many other building materials.
Enjoy your time on the server and just watch how things change over the next 6 months or year - that is the excitement of playing the best hard core economy server!

 

I love the idea of having a strong government to stabilize the economy. If the server had more control over the current issue of n-stars (and have control over inflation/deflation in the economy) the server would be stronger and stable which is good for both consumers and shop owners. (the Government at the moment could take n-stars out of the economy by buying them from shops as this would lower the supply of n-stars and help deflation)

 

This isn't real life- this is a virtual free market with set values that tend to be well below the market value. As this economic system works on ECC and doesn't have as many downsides as it may have in real life, it does not need a replacement and in my opinion, shouldn't be changed. ECC sets the starting values, you set the added worth. In most cases, this is a good amount higher than what the server offers. I'd ask you to think of the nether star market like a grocery store. When demand is high, whether from an increase in consumers or a crop shortage, the prices go up on that grocery. When demand is low, either from fruitful harvests or from lack of consumers, the price plummets. Same with nether stars. The recent event with nether star prices was caused by the addition of the nether star collector medal. That initially caused an increase in consumers, which led to a decrease in available nether stars. As a result, the price inflated, and peaked at around $650 before crashing down $100 over the course of about three weeks. In fact, I compare this new medal to the government giving money to large businesses in order to boost demand on their products. In this case, it worked for a little while, but ultimately failed. Luckily, it didn't cost the server anything (as it would in real life) - it only really cost the medal collectors and those who bought star tools during this time. Still, many nether star/star tool owners were able to make profits, whether from offering expensive payment plans or from selling what they collected at 10-15% of what they bought the stars at. I'd also honestly like to see the nether star price plummet further, if only because that would be an effect of having new voting sites as well as more users. I think it would be best to introduce one website at a time so that the price doesn't deflate at the rate that it has. In conclusion, I don't think we need a government to buy and sell nether stars, as it detracts from the power of the user market.

 

uhh... You don't know economics do you...

If the server were to take out all of these nether stars it would lead to INFLATION since you're squeezing the supply.

Economics 101 kid

 

However, you see, the nether star market doesn't need regulation. ECC has regulations such as /sell hand prices for market that aren't purely backed on player demand. The nether star market is purely backed upon player demand thus not needing regular to mess with the market.

 

you just asked owners to make less profit

 

Well, you gotta understand that business owners want to make as much profit as possible...

 

Actually just the opposite is true. The actual profit opportunities are much higher when the prices fluctuate solely on supply vs. demand instead of regulation. Of course there is also just as much chance for loss as the market itself balances out. That is what makes our economy strong.
Everyone is welcome to sell their nstars to the server any time they feel the need to be regulated :p

 

yes but surely the problem at the moment is the fact that the n-star market is deflating.
(I use the word problem loosely but a fluctuating market is not good!)

 

As a new player

I'd like the sell price to stay around $600 for awhile. I'm a new player and I greatly benefit from the daily voting income. Now, as to how this impacts the economy as a whole... I'll be watching this thread to learn more about economics! :cyclops: