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(1 coin cost 1-5 gold ingot depenting to skill).
Oh public education systems... how you have failed us
In eco minted currency also is linked to a resource, so it's gold based, which nearly no currency on earth is any longer. So in the eco economy minted coints have more value than the ones in reallife *g*
I would like to see a server option that restricts all currency to a global currency from the start with "Starter cash" than allow us to expand upon this vs using individual currencies but I guess this is the "Economics" of this game :P
I am currently working on a mod that will allow all metals (copper, iron or gold) to be used for minting currency and limiting the mint to government only by outlawing the creation and operating of a mint to government only, and removes personal currencies.
This solves most if not all of the issues with currency in game :D
I call my mod ECO-nomics :P
https://en.wikipedia.org/wiki/Gold_standard
The only economy not on the gold standard from my understanding is USA which is under the Petrol Dollar system basically backed by oil. If gold wasn't used for backing the world economy why did it go thru the roof when the world economy collapse in 2009?
If you do not back your countries currency with something that has value, you basically handing out worthless paper. If you had 50 million dollars in gold and print 50 million dollars in money you would have a 1 to 1 ratio, if you print more money than you have backing you devalue your currency and becomes worthless. I believe some 3rd world country have 1 million dollar notes LOL.
And yeah currency is relative, one of the intentions of the design is players get to setup and manage the value of currency.
Sell the item you want to sell so let's say as an example Hewn Logs for 20 (or slightly cheaper since anyone can make hewn logs) but buy Logs for 10(takes 2 logs to make a Hewn log without any efficiency).
Another example is if you want 1 gold for let's say 10 Birch Seeds, then buy Birch Seeds for 2 credits, but sell gold for 20 credits. That way if someone wants to make the credits to buy your stuff they have to sell to you an amount you feel is personally equivalent to what you sell before they can afford such.
Currency is and has always been used to price things at values we deem equivalent, it's why in real life a lot of people wait to buy a game when it's on sale or say in a review such and such game is truly worth such and such. We as individuals really pretty much choose the value of things. If someone goes to your store they will tell you if they think you are over pricing stuff.
Afterall in a world by yourself, gold is worth as much as turds. the more "others" to symbolicly compete with; the more something could have value to someone.
In Original Theory of currency.
Was created to represent how much one puts into sociaty as a whole. Those who contributed to the betterment of mankind (local town, village, City). Farmers, Smiths, Teachers, and Guards were paid it as 'tokens' representing the contributions to 'sociaty' and if they ever needed anything they turned them in for said services or goods rather than bartering their livelihood or things they needed.
As time marched on; it became more a ruined symbology / system.
Yes, everyone has their own 'currency' however pay attention to the fact it calls it 'credit' and each player has infiite of their own 'credit' think of it as this, I can give out as many I.O.U's as I want, thats basically me giving credit to someone.
But I have a limited amount of coins I can give.
So in the start, before you start minting actual coin. Everyone is kind of working on favors. You give me 20 logs, I give you 40 credit of my saleable items. Down the line, I start minting coins. So I setup shop to Primarily BUY items. But Instead of credit, now I start handing out actual coin.
This is where the economy side of the game can flourish, as there is a limited amount of coins. While I am distributing my currency, I'll also setup shop to sell things that can only be bought using my new coin. But now prices are a little more solid. How much is a gold bar worth? I can mind 5 coins with a gold bar? OK, so that log is prolly worth .5 to 1 maybe 2 coins depending on the demand for logs.
Doing what your talking about actual complicates it more. making it so only the government can create the currency in the game causes problems with how the game is meant to be played, and since that government can change on the whim of the server population, that complicates it even more, because without the 'credit' system you cant promote trade with players who are currently offline. Take my shop for example, I have a list of things I will buy, how much credit I offer for them, and a list of things I sell, and how much credit I feel their worth. It's all kind of arbitrary based on my percieved VALUE of the items. I'm not a farmer, so seeds arent that valueable to me. So, I sell them fairly low. However Furnature, my primary production, is fairly valuable, while I dont over value it compared to my buying price of materials. I factor in what I feel the materials are worth if I sold them, as is, vs the TIME spent learning the skills, and making the product itself. so naturally, Lumber is going to sell, higher than logs, as its processed, and even at the highest efficiency, costs at least 2 logs per 1 lumber. conversely, hewn logs, i'll sell a near the same cost as logs themselves because at max efficiency you can get more than one hewn log from a single log. But others might value it differently because it costs them far more to make the hewn log as their efficiency is lower.
And this all boils down to percieved value. As trees dwindle in your world, wood is more valuable because there is less of it and those with it are less likely to give it up. And of course, if a smith selling iron tools has a surplus of iron, his tools may be cheaper, even if his efficiency isnt that great. but the smith down the way, who may not ave that much iron, but is really efficient may be selling them around the same price, but overall putting less material into it. In essence earning more out of his materials than the other.
And my final comparasin, this time to real life. I have the last pickle. I love pickles. You have lots of cheese. I like chease, but you have an aweful lot, compared to my one pickle. But you want that pickle. your likely to offer me more cheese for that last pickle, than you would if I also had a lot of pickles, because that last one is percieved as more valuable because there arent any more left. if youve ever had siblings and wanted something they had you should be getting the idea by now.
If you arent getting the idea, dont worry about it, those that do, will set prices, and you will fall in line as a consumer in the market, and not a shop owner.
Why it did go through the roof? Because it's a finite, deemed valueable resource people like to have for crisises. The value of gold is also more emotional since the beginning of humanity. We demmed it looking shiny and gave it a value it shouldn't really possess.
There are a lot of nice education movies about this topic, unfortunatley i do not know any english ones, as english is not my main language.
https://www.youtube.com/watch?v=YHjYt6Jm5j8