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[Open Discussion] 'minimum Prices' For Items
#1
XE Community,

 

As a long term player of XE, I have witnessed the economy fail or start to crumble multiple times.  This wasn't particularly caused by imbalance on Punjedi's part, but an imbalance by shop keepers themselves...stick with me as I explain.

 

I have been to many shops over the past many versions, and have personally bought all the stock from certain shops for my own shop gains.  This allowed me to simply control the economy for particular items, because I could buy a shop's entire inventory, resell at a higher value, and never needed to worry about stock.

 

Many shop keepers do not properly value their time gathering resources and the actual value of the item, thus underselling the item and not making much money if any at all.  Other people will benefit from insanely low prices.

 

Starting roughly a week ago, we have been recording chest shop transactions.  Soon we should have enough data to generate an 'Average' price list for shop keepers to aid them in coming up with costs within their shop.  With this information, we can only hope that shop keepers would use it to their advantage.  This list however, does not guarantee a stable economy, only a guideline for pricing.

 

There are multiple ways to get Xeebles, these include, but not limited to;
  • Killing mobs
  • Mining and selling Gold Ore at /warp atm
  • Winning events at /warp arena
  • Owning a shop
  • Lottery
 

I would like to introduce the idea of setting 'Minimum Prices' on specific items (for example diamonds).  As this is an open discussion, staff greatly values your input and would like to hear your concerns.

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#2
I definitely agree with this concept. While it is a dangerous game to play, putting in place economic controls and sanctions, it does seem necessary when you run into economic trolls that can single handedly destroy the economy.


That being said, I think if people realize that specialization creates very different values for different materials/items (thank you Adam Smith) it can put serious limitations on competitiveness among groups/people that specialize in the same materials and could further create monopolies in the market.


That's my two cents.
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#3
Just noting that Lottery is out until we find a "fix" for it as it were. Casino is the alternate option for the chance to win Xeebles. Also with the new arena games, you can earn some there as well.

 

As far as the shops idea itself. I'll let people respond and observe for now.

"Nihil Sine Fide"
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#4
Quote:I definitely agree with this concept. While it is a dangerous game to play, putting in place economic controls and sanctions, it does seem necessary when you run into economic trolls that can single handedly destroy the economy.


That being said, I think if people realize that specialization creates very different values for different materials/items (thank you Adam Smith) it can put serious limitations on competitiveness among groups/people that specialize in the same materials and could further create monopolies in the market.


That's my two cents.
 

 

I agree with your thoughts.  I do feel as the restrictions could be taken too far, by means of defining minimum values for absolutely every item.  I would like to point out that this is not the case.  We are looking more to provide minimum pricing on the common items that get abused.  I have seen cases where one beacon would sell for 5k, then the following day 2-3 of them are being sold for 600/each, the quick 'opportunist' sale may be good if you are in a pinch, however this could be a deal that happens privately, and not from a shop.

 

One person sees a low price, and others follow.  Unfortunately, monkey see, monkey do.
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#5
I agree with the idea for a chart, but we do need to try and set a baseline i feel...  Things like beacons (thanks to DU) are already beginning to be undervalued :/

-Ven
[size=5]Guide, Oldtimer, and Friend of Xaldin[/size]
[Image: 1673357.gif]
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#6
I believe that in other places the "chart" tracked all chestshop sales and then calculated the average price of all sales history for each item that had been sold.


Then it doesn't need to constantly check the instant price of all 870 mendakota ct, Mendota heights for each item. More passive data processing than actively pulling from the server.


Not that I know how to do any of this... Haha
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#7
So you mean things like quartz, diamonds, obsidian, blaze rod, etc right? Any kind of farmable valuable material. Basically what we need is to do is decide how valuable our dollar is.


I think this is actually a fairly good idea especially if XE wants to grow and be inviting to new players. I remember how much of a dominant force minemart and sleep were. It wasnt bad but it wasn't a wide open economy.


Mobs drop.5 to 3 xeebles which is the most common way of obtaining xeebles. This is essentially minimum wage. Low grunt work. But we all have fly, so fighting is no problem. So i wanna ask, how many mobs can you kill in one night? I can usually get about 20 to 30. If 2/3 drop xeebles i would earn 60 or so xeebles a night, every ten minutes night comes.


With that in mind, we have to know it takes time and conscious effort to acquire. How much is your diamond worth, when depositing a level is 10 xeebles. 10 xeebles could be a dollar. So diamonds 10,30,50 a pop? What do you think? Too low too high? Bulk deals can be cheaper too and all that. I just want to see an economy that doesnt inflate itself too badly.
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#8
I'd be best to add an average time to items/xeebles to be able to judge a price.

For say..

Coal: 2 stacks per hour.

Iron: 1 stack per hour.

Gold: sold for 9 xeebles per ore and 32 ore per hour.

Diamond: 16 diamonds per hour.

( Reminder: these calculations are very basic and research has to be done, along with all the variables like "playtime required", "Replenishability", "farmability" and "effort". )

For instance, diamonds are hard to get when you play for 10 hours, at 20 hours you probably have a Stripmine, and with 30 hours you triple the amount of diamond you get with Looting 3 picks.

 

Is it an option to make a poll on Google Drive and let members fill in this poll ( which only takes 10 minutes max ) with the time they take to achieve certain items?

Values can be put in an Excel page, or Google Drive schematic to display minimal prices. Wink

RAINBOW WARRIOR!
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#9
Puma, I have implemented the average price list statistics from chestshop.  I believe we are steering away from controlling multiple item prices, and just strictly setting diamond prices.

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#10
so what is the strictly set diamond price?  15-20?

-Ven
[size=5]Guide, Oldtimer, and Friend of Xaldin[/size]
[Image: 1673357.gif]
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#11
No cheaper than your right leg and five cat hearts.
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#12
Four cat hearts and a bag of toe nail clippings ought to do it I think.
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#13
How about 1,000 diamonds for a soul... To cheep you think?
-Ven
[size=5]Guide, Oldtimer, and Friend of Xaldin[/size]
[Image: 1673357.gif]
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