I want to know peoples opinions as to whether the value of the Eco-Dollar has gone down, or up over time (and I'm talking about since the server started), and why this has (or hasn't happened). Please answer the poll, and post what you thank happened.
Can't see the poll on taptalk thingy Depends what we compare the value of it to, if we choose diamonds we could say ECD WENT UP but then again turn it around and it's actually diamonds that went down. I think the best measure would be donation exchange and I haven't played on here very long so maybe someone who was selling them early on for ECD could comment, I feel price going up meaning ECD is going down. Overall i think ECD keeps going down due to constant inflation but even though I guess server owners are doing pretty good job with cost of applications etc to remove as much as possible ECD from the market though keeping inflation down as much as possible But I think more things are needed to be buy able with ECD to help keep inflation down (buy able from server so certain amount of ECD are gone forever keeping inflation down
I think down because of inflation. However the housing market is getting worse in a lot of cases. The star tools and the prices of nstars (very central to the economy) has increased dropping the Ecc dollar. However as andycyxu said it is very dependent upon what it is being compared to since we don't have another currency system to compare to. The whole market can't be compared because it all fluctuates in its own way or is solid. I hope this helps a little bit.
It has gone down. People used to sell donations at ~3k per usd If i remember correctly. Now they sell for 5k per USD because the eco dollar is worth less... Not sure if that makes sense, but that is how I see it.
I agree with alpert3925 I just have not been around long enough to know previous donation trade offs.
I still am in dislike of the nstar price change from $200-$150. When I First joined, I needed to get a plot. So I voted and got the 6 nstars, and bought my first plot instantly. Now, builders cannot. This may be increase, may be decrease. But it's a change that happened and in my opinion, hurt the newcomers. But, it also stabilized the money flow a bit, because money wasn't entering the economy so quickly.
$200-150 ??? I have never seen them that cheap. I always tell new members to my town to vote and then they almost always have enough money for a plot they desire.
You've said we can't compare the value accurately, because we lack a secondary currency. This is correct, it can't be compared accurately but it can be valued generally, which is what I was talking about. It seems like everyone feels it's gone down... and that makes sense because unlike the real economy, we have an endless and unstoppable influx of cash. I think we don't have quite enough items, and things to buy in the economy at the moment, although andrewkm has done a very admirable job of adding "money sinks"; Donations being the most effective of these I think.
@rohtvak I agree with your and a number of other players, although I have not been active on the server to personally witness the activity of the Eco Dollar, just based on the way the server is managed, taking into consideration the resetting of resource worlds that provide an endless supply of items and materials that can be converted to cash. In the real world a country would be limited in the amount of currency being publicly available, as any form of currency is normally associated with some form of reserves, metal or other. The simple act of printing money on demand leads to inflation and devaluing of the currency, this is what happens on ECC. The server basically 'prints' money on demand to pay players who sell items, materials etc to the server. Without intervention in some form, the economy could well experience hyper inflation and potential collapse. Hence we can understand the constant tweeting Andrew does to better manage the economy. As this server only has a single currency, and can not be influenced by trade, driven by global supply and demand in the real world, it will always be removed from what we experience in real life, and also always have an element of 'unreal' nature about it. As much as we may want a 'real' economy in Minecraft, the nature of the game, which includes enchanting and other aspects providing an advantage over real world limits, should remain mystical and unreal to be enjoyed.
