-1, set prices makes the economy stable however then you lose the reselling part of the economy. An economy that has set prices for everything will cause less worth to eccodollars as tons of money will be put into the economy and it will just cause more problems and higher prices for everything that isn't sellable to the server.

 

Sjdh , Your just trying to sound intelligent ahaha :3 TI agree , set prices on items like diamonds is bad , but not entirely.

 

Diamonds used to have a price ($50) and shortly after the price was removed the prices of diamonds shot up to 90 each, it eventually went back down to 60 each and slowly made it's way up to 100 again.
This is just a cycle, I suggest you just hold on to your diamonds and sell them when the prices are back up.

 

^ this.

The diamond prices are crazy, up down, this is the lowest i've seen them, with 1.3.1 it's really... a disaster :| hold your diamonds like kuke said, you're going to make a big profit in the long run.

 

Just trying to sound intelligent? No, thats exactly how it works.

 

Its like shares lol buy diamonds when there cheap and sell them when there higher

 

The prices of diamonds depend on the economy and the game. For those wondering why diamond prices fell, here's the explanation.

In 1.3, ores started to give exp. Just before that, farming prices dropped significantly. Because of this, low-income players switched from farming/building farms to mining. More miners means more ores. Most ores are sold to the server, therefore avoiding a price drop.

But since diamonds cannot be sold to the server and so many people are finding diamonds when they mine, the diamond supply skyrocketed. More diamonds means lower prices.

The prices will stay this way unless there is a more profitable way to make money for low-income players.

Since fishing has been introduced as a fairly profitable way of making money for low-income players, I predict that diamond prices might rise a little because less people will be mining and more will be fishing. They key to increasing mining prices is to make people NOT mine. Or do what @Welikeike22 did and buy half of the server's diamonds and sell them at a desired price.

 

Hold them! I sold a few stacks for $30 per diamond and I woke up the next morning and they went up to $50!

 

The diamond prices at the moment are around $40-$50. You might have just encountered a good deal. Diamond prices don't usually rise that quick... :?