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Money system in new worlds?

Here's the money system I propose, Everyone stands in a circle and hits Q, and you get what you pick up. Done!
 
Set prices are a bad idea, there would be no competition which kind of defeats the purpose of opening a shop. Someone who has some concept of economics should create a money mod.

For instance, prices fluctuate based on the demand of a given item and the available supply. If a group is building a large subway then the demand for iron will increase; if another group is building a pink skyscraper then the demand for wool and pink dye (red flowers, bonemeal) will increase. How are shops to know what to stock up on if the prices are fixed? A solution to this problem is to create a function that can access player and world inventory and adjust prices based on how much a given resource is being used. It would be kind of like a stock market, in fact, why not even allow users invest in particular resources?
 
These ideas are getting needlessly complicated.

I'm starting to be in favor of the current barter system. It's hard to determine what things are worth but you also have the freedom to negotiate whatever price you want.
 
CrazyAce01 said:
These ideas are getting needlessly complicated.

I'm starting to be in favor of the current barter system. It's hard to determine what things are worth but you also have the freedom to negotiate whatever price you want.
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Yes, but a money mod adds much more functionality. Loans would be possible, money would be a number (not an item in your inventory), investment, and maybe dispensers could be tied to prices you set at your store so you wouldn't actually have to be present to sell things. Imagine, someone buys something at your store and you automagically have more money in your account!
 
thats a feature of iconomy, it gives you credits which arent a item in-game and is just a number.

btw, diamonds shouldn't be used as currency, gold would be better fit.
 
Meh. I dont like that "invisible money" idea, thats just... not minecraft-ish :eek:
If we're going to intruduce any trading system, let it be item-for-item or admin-set.
Item-for-item is basically what it is now, the seller decides about the price (negotiations allowed, of course), there's no need to do that if you dont want.
And by admin-set i mean a mod that i've seen somewhere already - a store, divided to 2 parts, loaded with chests with stuff of all kinds with signs over them. Every sign says how much gold every item is worth (for example - "Wood [20:1]"). When you trade something for gold, you simply go to the second part of the shop (also filled up with chests) and buy stuff for it (this time it looks like that "Wood [1:20]"). Its a simply and quick way to get all the items you need, everytime, without the need of anybody being online.
 
DevilJelly said:
Meh. I dont like that "invisible money" idea, thats just... not minecraft-ish :eek:
If we're going to intruduce any trading system, let it be item-for-item or admin-set.
Item-for-item is basically what it is now, the seller decides about the price (negotiations allowed, of course), there's no need to do that if you dont want.
And by admin-set i mean a mod that i've seen somewhere already - a store, divided to 2 parts, loaded with chests with stuff of all kinds with signs over them. Every sign says how much gold every item is worth (for example - "Wood [20:1]"). When you trade something for gold, you simply go to the second part of the shop (also filled up with chests) and buy stuff for it (this time it looks like that "Wood [1:20]"). Its a simply and quick way to get all the items you need, everytime, without the need of anybody being online.
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I like that idea most of all (the admin set idea). Using diamond as currency doesn't seem like a good idea given its high value and versatility. Gold really should be used as the medium for exchanges, since its uses are limited and its still a fairly rare resource to find, so its value in trading would be strong.

The more I think about it, the less I think trying to implement a currency into the game would be feasible. The only way it could work is if we only used one resource as the basis for the currency. I know I mentioned earlier a system where you could exchange any resource for currency, but that would lead to issues with too little room for prices to change and people would be unable make a profit off of transactions. Making chests where you can deposit gold and get whatever is inside would seem to be the easiest.
 
I like the idea of a actual currency system, backed by gold.. hey, that's what what real money is, lol. Real money is "invisible" currency, as it has no real value other than the fact that everyone agrees that is has value. Being able to trade gold in for currency would mean that at first the currency system would be a trickle as first and barter would be the main way of getting goods, until enough people have enough gold to back the bank of minecraft. After that currency would be used as a simpler way of setting prices. Not that everything has to have a set price, but it helps to have something you can break into smaller doses and use later.
 
Quick point of order: Most (if not all) currencies today are based upon the strength of the US dollar. That policy was put into place shortly after WWII since most other economies were in such a mess.
 
I agree that gold would work well as a medium of exchange, given that each inventory slot can hold 576 ingots, that's likely to be as much currency as anyone is going to need to carry with them. But there is still the issue of the inconvenience of running a store front; nobody wants to hang around in their shop for hours on end waiting for customers to show up. We need a method to dispense goods when gold is deposited into chest or something along those lines.
 
Agitpropist said:
I agree that gold would work well as a medium of exchange, given that each inventory slot can hold 576 ingots, that's likely to be as much currency as anyone is going to need to carry with them. But there is still the issue of the inconvenience of running a store front; nobody wants to hang around in their shop for hours on end waiting for customers to show up. We need a method to dispense goods when gold is deposited into chest or something along those lines.
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Yup. My admin-set idea is the best thing to do. And its a plugin that already exists, cause i've seen it already.
 
Yes admin-set idea is very good, the reason that invisible money wouldn't work as well for us as in the real world is because actual money is meant to be used in a massive economy, whereas we are only about 100 or less people. :p
 
Unfortunatelly, it was on a server that i got banned from (for cloning, lul, i had a bugged flint'n'steel and tried to throw it away, threw like 500 of them on the ground and then a mod came :D), but my friend is still playing there, i'll tell him to ask the admin about it.
 
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