In game currency is confusing

[Dknighter]

I'm about to setup a store, lets say I put in 20 logs to sell, it then asks me how much I want to sell it for but it's only a number, lets says it's $. What is 1$ worth? I don't understand this at all. Say if I wanted to sell gold how can I decide how much 1 gold is worth in the currency? It would be so much better if you say, I am selling 20 gold for 40 logs instead of this currency that has no value.

[Aaron]

Congratulations!
You have just discovered the basic problem of EVERY real world Currency and it is simulated in Eco!

[Dknighter]

I guess but real currency has a value, what the hell is 1 in eco?

[Aaron]

but if you want to sell 20 gold for 40 logs you only need to place the relative prices of 1:2
so your gold would cost 2 or 2000? and the log only 1 or 1000 or however many zeros you like, only the ratio is important

and your price ratio will be determined by supply and demand of course.

[Dknighter]

There's not enough people on the server for that. I would prefer if I could say, sell a skill scroll for 15 Birch seeds.

[Aaron]

real currency doesn't have a value that is set in stone, the amount of $ you get for a € changes every moment at the stock markets. the changes are just very small because millions of people use it and their price decisions average out to some arbitrary number we call value

[Aaron]

sure like I said already, just keep the ratio and it will be fine if you want a skill scroll for 15 seeds just place the price of the scroll 15 times higher than the seeds price

[Dknighter]

But how do you work out what the price of a seed is?

[Aaron]

its arbitrary, all that matters is the ratio so I would place the seed price at 1 for simplicity reasons
but you can set it to any number really as long as it is 15 times cheaper than the scroll.

[Rektor]

couldnt help myself, but to laugh my ass off as someone firstly discovered, that currency is really just a number : D

[Dknighter]

yeah lol but actual currency has a value. This in game currency has nothing.

[Rektor]

well if u live in venezuela,ingame currency of german browser games has more value than their state currency. ecos ingame currency is the most accurate currency simulation there is. someone with literally unlimited supply (like the federal reserve in america or the european central bank) hands out their currency and the only thing that makes it somewhat valuable is the peoples believe in that value. if ur local bakery stops believing in the value of euros i can throw as many paper scrolls with € symbols on either sides at them, they wont give me any bread since in the end its only paper i can offer in return

[Dknighter]

yeah, it just seems to over complicate things in game though. It would be so much better if you could just trade items for items. So I say I want 10 Birch seeds for 20 gold ore.

[Rektor]

so what happens if i dont lile 10 birch seeds, but rather want it to be like 14 seeds?

[Dknighter]

Then you should be able to either buy at the current price or put in an offer.

[Rektor]

thankfully theres currency, i dont have to do 1000 different offers to maybe get the ratio i want, i can simply use my credits to determine exchange ratios