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Oblivionburn

Finite Currency

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My apologies if this is already a thing, but I would like to propose there being a finite limit to the amount of currency in circulation and not an unlimited amount that can be created from player sold items/vehicles/etc.

 

The reason: what breaks most mmo economies is the ability for players to amass wealth without limit, which ultimately causes the currency to be essentially worthless. You can look on the market of nearly any current mmo and see items priced in the millions+ because the majority of players have more currency than they could ever possibly spend. Most mmo's have attempted to compensate for this inevitability by having 'money sinks' or regularly introducing new currencies to keep the market from flooding and prices skyrocketing to absurd levels. However, money sinks and new currencies always fail since they underestimate the speed at which players can amass currency (especially when working together in large numbers). I would like to see a mmo do the right thing and learn from the mistakes of the thousands of mmo's that have failed at this in the past, and the solution is simple: cap the currency.

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I believe there was a post that currency amount is going to be regulated. Initially there would be npc buy orders for resources and stuff. Their amount should control money flow to player pockets. There are no other money sources anounced

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the only faucet for generating quanta out of nothing that was talked about up until now is mining and selling that ore to market bots. There's no missions/quests/other faucets we know of as of today.

 

If that single faucet is enough for the economy will be seen

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Imagine a game where money is finite. You join 5 years later and all the money is issued. Sure things are cheap, but good luck gettinf that 5quanta needed.

 

As the existing money is spread thin between more new players, it is harder to aquire. This makes the old wealthy and new poor.

 

I have never gotten sufficient answers on how they will handle source and sinks, but early talks years ago indicated they were looking at how Eve managed their economy. Which Id say is an MMO that CCP handled it very well.

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25 minutes ago, WilburKit said:

This is a great idea and adds a layer of realism to a already amazing game. However it would require thinking and planning to work well.

How is finite currency realism?  It couldnt be further from real.

 

Ignoring fiat currency, whatever was used to trade was rare, you you could still find more of it. IE, gold and silver.

 

If truely finite it will become to rare to use for everyday trading. And as I pointed out above, it leads to hoarding. 

 

Dont get me wrong, as someone in on the ground floor ill take it. But I also have plans to abuse the hell out of it if they do make that decision. 

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Eve has some interesting data about it's economy: https://www.eveonline.com/article/pxf0wt/monthly-economic-report-august-2019

 

I don't think there is such a simple solution, but as long as it can be made somewhat stable it should be fine. I would think fewer faucets would be easier to control.

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33 minutes ago, Haunty said:

Eve has some interesting data about it's economy: https://www.eveonline.com/article/pxf0wt/monthly-economic-report-august-2019

 

I don't think there is such a simple solution, but as long as it can be made somewhat stable it should be fine. I would think fewer faucets would be easier to control.

Easier to control. But the question will be is it as seemless or obvious. 

 

Faucets and sinks need to be balanced though. 

 

The only faucets i know of atm is bootstrap market bots that are said to be temporary. Whats the long term faucets.

 

And I currently know of no sinks. Theres pvp for destruction of elements driving demans, but its not a currency sink. Maybe a market tax like eve?

 

I've tried getting more details in the past but it seems it wasnt worked out or they just werent ready to tell us.  

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Determining the supply of money, like all other goods, is best left to the free market. Aside from the general moral and economic advantages of freedom over coercion, no dictated quantity of money will do the work better.

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The idea in DU is that new money will only be created by selling ore to NQ's buy orders on the market. Once NQ feels there's "enough" money in circulation, the buy orders will be temporarily withdrawn, until the point is reached where they are needed again.

 

Having a single faucet that can be shut down at will, removes the need for "money sinks". The faucet is also independent of game play, no need to remove or suspend missions or loot tables, etc.

 

Instead of things like paying rents or taxes to NPC's to drain excess money from the system, those payments in DU are made to actual players, which moves the money around in the game. As long as the dependency between players is high, money should keep circulating. You can only hoard money if you don't need to buy anything from anyone else, whilst they will have to need something from YOU.

 

You can't take money from other players by force, because quanta is not lootable (it's in a digital wallet). So the only way to "forcefully liberate" the funds in someone's wallet is via asset destruction. However, that doesn't mean the person doing the destruction gets the funds, the money will go to those involved in replacing the assets. It's a complex web, but the money moves...

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On 9/25/2019 at 6:22 PM, WilburKit said:

This is a great idea and adds a layer of realism to a already amazing game. However it would require thinking and planning to work well.

If you want to add realism just look at the EU banking agency, they press new money daily to keep the economy rolling, add negative interest rates to keep economy rolling, you get free cash when you loan with them to keep economy rolling. 

 

So probably the best way to keep the game rolling is a free monthly cash deposit by the Arc ship to all players, to keep the economy rolling.

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