Treiskaideka wrote:I just wanna clarify one thing that Sneaky said:
" a new rate could be decided,"
There is no offical diamond/iron rate enforced anywhere on Zurvival.
We did discuss this in Zedkins but I think forcing an exchange rate with an official bank (maybe including a little exchange tax by 1i around the rate) is too restricting on the market and has issues and work with maintaining the price at the actual level and could be too much of a monopoly on one item and too much of a control mechanism.
Ultimately we agreed to kind of suggest the old price of 20i/1d but not force it on anyone (like i said, the current price is actually higher which indicates that there is plenty enough of iron around)
SneakySkeleton wrote:a new rate could be decided, and the market could adapt to the change with time.
My wording was maybe not the best here, but I wasn't suggesting
enforcing any given rate. As I said further in the sentence, the market could adapt with time, as any market would do when change hits it. Enforcing a given rate would not allow the market to change.
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SneakySkeleton wrote:I think with this sort of market and the massive addition that would come along with iron farms being enabled, your biggest threat is players who undercut prices - not the mass influx of iron.
Just want to add something to this, as I think it is going to be said eventually anyway...
The real reason undercutting is such a threat is that it will under value not only the value of the item that is being sold, but anything that is more valuable - eventually. Some items take time to get, and are probably worth more than what people are selling them for.
Example: Given the limitations such as mob caps/spawning rates on the server, items such as gunpowder (which is incredibly useful for TNT, rockets, and splash potions) are quite hard to come by. I sell fireworks, and tried to find a nice rate at which I'm not driving the value of GP down, but also so I'm able to sustain a supply for a large demand of the item, given they also need paper.
I know people will argue that someone who undercuts will have such high demand that they won't be able to keep their sales up. But the real threat is it may encourage others to begin driving the price of the item down, which then discourages others from even trying to compete with the undercut price (just by the fact it is there, also players will not buy from any higher prices) and the market will not stock that item because the stock is always out.
(If that makes no sense, or sounds dumb, I'm sorry, I'm tiredd at the time of writing this...)