Stop Destroying the Economy!!!

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April 14, 2015 at 1:05 pm #12068
Azure
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The PirateCraft economy is dying, and it is dying fast.

Why?

Because new shop owners are setting up signs without checking prices, and they devalue all the expensive stuff.

Let me tell you a story:

When i first joined a diamond was worth $50 or more APEICE. Yes that’s right, diamonds were actually WORTH SOMETHING!!

Then a lovely man named WogWorld joined and began offering diamonds for not just a few dollars below the running rate (competitive selling) but at less than HALF of what others were selling for, $20.

This sounds awesome right? Cheap diamonds for everyone!!! Now here’s the problem. When diamonds no longer sell for 50$, that means if you go to sell your diamonds to another shop, you MIGHT be able to sell them for half the price.

What does this mean? It means that diamonds WERE worth 30$ to sell; but Wog bought them for 15$.

So what have we learned? Being nice and lowering the price might make you a quick buck; but everyone on the server suffers for it. Wog sold competitively, and he always tried to buy diamonds as close as he could to the price he sold it at so this didn’t happen; but these new shops are not doing this.

Currently the going price for a diamond at the cheapest of shops is 10-15$.

THIS IS NOT A GOOD THING!!!

Less than 6 months ago, a diamond was worth 50$. Now it is worth 10$, and you can sell a diamond to a shop for $5. Do you not see the issue here? These people might be making a quick buck, but now diamonds are nearly WORTHLESS!?

Please everyone, standardize your prices! Very very soon, prices on everything will be so low that no one will have any reason to USE the economy system, and no one will be able to sell things to make money because everything is practically worthless.

Short Version:

Stop making your shop prices so cheap you are ruining the economy!!?
April 14, 2015 at 1:14 pm #12070
Azure
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Suggestions:

When you go to price your items, check /warp wolf

It is the standard for most shops, and has good prices (but not so cheap that the entire economy suffers).

You can still make money this way, it’s super easy!

All you have to do is find the things Wolf is out of stock with, and price them a little higher. (This is called supply and demand, and you will make MORE money this way!)

You can also use Wolf as a price gauge. If the diamonds at Wolf are (for example) 30$ apeice, then sell your diamonds for 27$. You STILL have a lower price than the largest shop on the server. And, if you are selling diamonds at 15$ you will be making 10$ more PER ITEM simply by having a more standard price!
April 14, 2015 at 1:48 pm #12071
GodsDead
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Good example of supply & demand? More people digging up diamonds means there’s way more diamonds in chests being traded, stolen and used as currency, When we first started out diamond price was high as there wasn’t that many people mining diamonds so they were rare.

Supply and Demand
The market system is driven by supply and demand. Take beer again. Let’s say people want more beer, meaning the demand for beer is high. This demand means you can charge more for beer, so you can make more money on average by changing wheat into beer than grounding that same wheat into flour. More people start making beer and, after a few production cycles, there is so much beer on the market that prices plummet. Meanwhile, the price of flour has been increasing as the supply shrinks, so more producers buy up wheat for the purpose of making flour – and on, and on.
April 14, 2015 at 2:24 pm #12073
Sting
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Hrm i was worried that my shop might be too expensive.

Thanks to you i realized that it is only a little overpriced.
(It is not a bigh shop i only sell some startequip like golden spades and stuff close to the aqueduct and focus on the woodprices in cove in comparison to my products…i still might lower my price for Golden Spades 20£)
April 14, 2015 at 2:37 pm #12076
LegionaryJoao
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GodsDead wrote:

Good example of supply & demand? More people digging up diamonds means there’s way more diamonds in chests being traded, stolen and used as currency, When we first started out diamond price was high as there wasn’t that many people mining diamonds so they were rare.

Supply and Demand The market system is driven by supply and demand. Take beer again. Let’s say people want more beer, meaning the demand for beer is high. This demand means you can charge more for beer, so you can make more money on average by changing wheat into beer than grounding that same wheat into flour. More people start making beer and, after a few production cycles, there is so much beer on the market that prices plummet. Meanwhile, the price of flour has been increasing as the supply shrinks, so more producers buy up wheat for the purpose of making flour – and on, and on.

Did you by any chance do business studies is secondary school/college, because this is the sort of thing I’m currently learning about how production affects price, in fact I was going to write something along the same lines you did.
April 14, 2015 at 3:26 pm #12079
Azure
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Yes but there’s a difference between lowering your prices because there is a surplus; and just naming a low price without checking rates in other shops. This has been happening a lot recently, and because people aren’t checking how much things cost, they end up under-pricing things to such a degree that it begins to mess up the economy.
April 14, 2015 at 6:11 pm #12080
michty
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Supply and demand are very important and nobody questions their role and importance. But the issue is that all those people who sell their resources under price (and actually loose money on it) mess up all the other shops as well. Nobody would buy diamond for $50 now. I believe that as describe in the example above, this will get regulated by demand. More people can afford diamonds and they will buy out all of the supply, and prices will rise back to norm. There is still one issue though. This started extreme deflation when prices basically halved in about a month. This might cause freeze of the economy since resources are now more worth holding then their current value cash… This might drive away actual shop owners and hurt the eco significantly, since everyone will want to buy, but nobody will want to sell their stuff.

---
michty
Prime Minister of the British Empire
Governor of the Province of Canada
April 14, 2015 at 6:34 pm #12083
The Queen
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If you have not noticed pirate craft is slowly shifting into a new generation for expample

Skymanjay: GONE

WogWorld: GONE

TimHusiain: GONE

Wazze: GONE

HardyTheMardy: GONE

JackTheLockHard: GONE

ArkerIV: GONE

Sabbeh2012: GONE

Now a lot of these people used to be on everyday and most good merchants/players now we’re slowly shifting and meaning the new generation needs to be tonight. Azuries we were used to that because the merchants understood the value of the items. Now it’s mostly up to you and others to help.

Those people I listed still play but not as much anymore. All I’m trying to say is that the route the server merchants are going it will be OP because this stuff is becoming way to cheap. lol I kinda rambled a little

Mother and soul protector of the Elven Empire
April 14, 2015 at 9:05 pm #12089
Azure
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@michal_tyrlik @reptaria

These are the exact points I’m making. Supply and demand is great and all, but if people have supply and don’t look into the demand for it, they end up underpricing.

This hurts the merchants because they are making alot less than they should; but this also hurts the buyers. Eventually the prices for things will be so low that attempting to sell goods to a shop to make money will be a waste of time. This will cause more people to open shops and sell; and in the end we have a rediculous amount of shops and no one buying because the value of selling to a shop won’t be worth it.

Yes there are new merchants, and most of the old are gone (except myself and Machi, and my shop is still on hold for a few more days) but the fact remains that unless we make a team effort to keep the economy stable, it’s going to be irregular and the value of items will be incredibly devalued.

So the question is, how do we fix this? We’ve had Merchant Guilds in the past, but I propose a group dedicated specifically to regulating the economy and ensuring that certain worldwide rules are enforced.

I want the other merchants to join in this discussion so that we can all, as a group, decide on how to handle the situation to meet everyone’s needs.

Below are possible rules we can agree on/establish between trade cities:
- Members of the Merchant Guild must follow a loose price guide (to be come up with between leading members) such as a basic example of: A diamond should be sold for more than 20$ but less than 50$; and people can feel free to price in that range according to the available supply.
- Leading Members of the Merchant Guild should be leaders of the trade cities, example: Machi, Bislo, etc. (The people who payed for the warp and regulate rules of the city/port)
- Trade cities within the Merchants Guild will have a standard set of rules to follow (aka PVP restriction, KoS list, etc) and possibly a central guild location to post and update the list of KoS threats.
- Members of the Merchant Guild must be neutral. This means while the merchants themselves may or may not be affiliated with certain factions (aka BE and elves) the cities themselves will be declared as war free zones. For example if BE is having a war, /warp Trade would be left out of it.
- Members of the Merchants Guild will look out for eachother! If someone decides to cross the neutral treaty and bring war to a merchant city, regardless of affiliation the other members of the guild will do what they can to help whether that is PVP or supplying goods for the people who don’t pvp. If someone is warp killing or harassing specific warps, it becomes the problem of the Merchant Guild, not just the owner of that warp.
- Communication! Members will stay in touch for things like KoS people, price adjusting, and general friendliness.
- Organized Competition: This also falls under communication; the members of the Merchant Guild should communicate with eachother to find out who has a surplus. This would allow people to know who runs out of what frequently, so that they can profit off the demand by pricing higher! Machi and I already have a similar arrangement, where I will overprice certain goods he frequently runs out of. This allows him to make money (having the lowest price when he has enough to sell) and myself to make money (when he runs out, and people are willing to pay a slightly higher price.) It’s the sort of thing everyone wins with, and all it takes is a little bit of chatting between shop owners!
These are just some possible rules; please help me get the interest of the other shop owners! If we can all work together, we can keep the economy at relatively set rates. Those underpricing will be making more money, and those with pre established shops won’t end up ruined because of rapid deflation. In addition, those who are NOT in the Merchant Guild will reap the benefits of somewhat standard pricing and higher SELL prices.

Who’s with me?
April 14, 2015 at 9:06 pm #12090
GodsDead
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I wonder how a Pirate would deal with issues like this? Drive the other people out of business…and take the market for themselves 🙂 Or offer incentives
April 14, 2015 at 9:42 pm #12091
Azure
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But we are merchant’s first! Otherwise there are no trade ships to raid!!

(And yes, considering I am soon opening a dock with villager and horse trade; there will be trade ships!)
April 14, 2015 at 10:08 pm #12093
Crazy Pirate
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Firstly, I’m happy to see the BE has a reputation, its name keeps popping up; I like that! 🙂

Second, this guild shouldn’t be limited to shop owners, but also the suppliers, or those who stock vast amounts of a certain item. The BE are constructing a gold farm, and soon, the iron foundry; these can flood the market easily, and it would be wise if we were in the loop, in regards to prices.
April 14, 2015 at 11:34 pm #12097
Azure
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Well like the owners of the warps would be the leaders/moderators and the other shop owners would be free to join as well.
April 15, 2015 at 2:39 am #12102
Dr.solid
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machi buys diamonds for 20. so to make a profit you would need to sell diamonds at 20.01+. machi is trying to safe the economy (i think). so the price of diamonds is still 20’….ish.

also plz tell me were there selling the diamonds super cheap!(why you ask? well is an old merchant trick when you know the price will go high but its low write now you buy it all and then sell it for a higher price >:) ).

Dr_solid~

Posesore of the Ope Ope No Mi

i realy like One Piece
April 15, 2015 at 2:41 am #12103
Dr.solid
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@reptaria your forgetting cjmaca

Dr_solid~

Posesore of the Ope Ope No Mi

i realy like One Piece
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