Archived Recirculate Lost Regals

[Tyler821]

Hi. As everyone knows, the number of circulating Regals is very low; only 51% of all Regals are currently in circulation, according to /money analyze.

My idea is that if a player is inactive for 60 days, they start losing Regals.

At 60 days of inactivity, 10% of all their Regals are returned to circulation.

Every 10 days after, they lose another 10%. Since that would drain their uncirculated Regals but not drain it entirely, the rest of their Regals would be collected and recirculated.


Thanks for reading.

 

[BenRekt]

The idea itself is good, but I feel like there are more important things that could be worked on at the moment.

 

[Tyler821]

The idea itself is good, but I feel like there are more important things that could be worked on at the moment.

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Like what? A magic plugin, another world? The Regal is tanking almost as fast as the Russian economy, so there shouldn't be any higher priority.

 

[BenRekt]

Like what? A magic plugin, another world? The Regal is tanking almost as fast as the Russian economy, so there shouldn't be any higher priority.

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If you haven't noticed, PvP is completely broken, and slowly, but surely, regals are becoming more valuable as currency because everyone needs it to support their faction through faction taxes.

 

[wafflecash]

Wait a month for people to start buying regals for taxes

 

[Gerrior]

This is what I like about Massivecraft, those that are in heavy PvP factions hardly have money, unless they are premium or training. Meanwhile a trading faction has plentiful amounts of regals.

 

[BenRekt]

This is what I like about Massivecraft, those that are in heavy PvP factions hardly have money, unless they are premium or training. Meanwhile a trading faction has plentiful amounts of regals.

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Are you joking or have you not been playing for very long?
Literally all PvPers do is kill other players, trade, farm and darkroom to make money and god weapons / armor. Most of the player-held money is held within the hands of PvPers.

 

[Tyler821]

Are you joking or have you not been playing for very long?
Literally all PvPers do is kill other players, trade, farm and darkroom to make money and god weapons / armor. Most of the player-held money is held within the hands of PvPers.

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This is what I like about Massivecraft, those that are in heavy PvP factions hardly have money, unless they are premium or training. Meanwhile a trading faction has plentiful amounts of regals.

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Wait a month for people to start buying regals for taxes

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People will be buying regals for taxes, but that doesn't change the fact that the pool of circulated regals is very low. There really aren't that many regals to buy. There are only 200,000 more regals in circulation than not, for the record.

 

[Alj23]

This is what I like about Massivecraft, those that are in heavy PvP factions hardly have money, unless they are premium or training. Meanwhile a trading faction has plentiful amounts of regals.

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Being premium in a heavy PVP faction doesn't effect your ability to earn money. Most premium PVPers have the money as a result of buying premium to avoid losing our armor in fights, and if we are fighting, we are constantly in the dark room grinding and selling god materials, thus the money.

Being able to earn money isn't dependent on whether you're premium or not. Having premium and being a heavy pvper has the side effect of acquiring money through doing the things required to continue fighting, such as training the in dark room and selling god items. The two do not directly correlate. I was non premium for the longest time. To get the regals needed to buy premium, as a non premium mind you, I spent time in the dark room grinding. I got silver and copper for it when we used those currencies, and I enchanted books, and then turned around and sold them for a good chunk of money, back when you could auction an unbreaking 3 book in trade chat for upwards of 70 silver, or 700 regals today.

Point being, you don't have to be premium to earn money.

 

[Alj23]

People will be buying regals for taxes, but that doesn't change the fact that the pool of circulated regals is very low. There really aren't that many regals to buy. There are only 200,000 more regals in circulation than not, for the record.

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The amount of taxes charged per day is so insignificant, that for the larger factions with a larger than normal tax rate, they already have enough members to tax to generate the regals, because of being in a large faction. Mithril is a larger than average faction with a lot of land claimed, they also have a lot of members to tax, and are therefore financially secure.

One might make a big purchase of regals, but I doubt more than 5000 of those regals, if the regals purchased is more than 5000, is intended for faction taxes specifically.

 

[BenRekt]

People will be buying regals for taxes, but that doesn't change the fact that the pool of circulated regals is very low. There really aren't that many regals to buy. There are only 200,000 more regals in circulation than not, for the record.

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You do realize that as time goes on the percentage of regals in circulation will rise because more will be put into the system. Honestly though - why does this statistic require any staff power to fix? In my opinion doesn't matter really at all and it doesn't effect gameplay.

 

[Tyler821]

@Ellimairy @xXFallenNinjaXx @ElfArcher9191 Okay if you're going to disagree at least explain your reasoning; I don't appreciate neutral ratings without explanations.

 

[Oxoman]

You say that the regal is tanking almost as fast as the ruble. The ruble lost 40% of its value in a month. Now, although I don't trade a great deal, from what I have seen there is a relatively constant price on most items, and there appears to be a minimal rate of inflation or deflation. The regals lost by inactive players is one of the larger money sinks on MassiveCraft, and prevents excessive deflation, which is a severe risk when money is as easy to come by as it is in Massive.

 

[Tyler821]

You say that the regal is tanking almost as fast as the ruble. The ruble lost 40% of its value in a month. Now, although I don't trade a great deal, from what I have seen there is a relatively constant price on most items, and there appears to be a minimal rate of inflation or deflation. The regals lost by inactive players is one of the larger money sinks on MassiveCraft, and prevents excessive deflation, which is a severe risk when money is as easy to come by as it is in Massive.

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1. Yeah, I was using the rouble for drama.

2. It's inflation you're talking about; the fact that their money is lost CAUSES deflation. However, you want a balance of deflation and inflation. Currently, you can get a stack of dirt or a stack of potatoes for 1r. Are potatoes more valuable? Obviously, but since 1r is as low as the currency can get, and the Regal is too deflated, their price has to be the same. If we allowed some inflation, we could represent the value of items in the price.

 

[Oxoman]

1. Yeah, I was using the rouble for drama.

2. It's inflation you're talking about; the fact that their money is lost CAUSES deflation. However, you want a balance of deflation and inflation. Currently, you can get a stack of dirt or a stack of potatoes for 1r. Are potatoes more valuable? Obviously, but since 1r is as low as the currency can get, and the Regal is too deflated, their price has to be the same. If we allowed some inflation, we could represent the value of items in the price.

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I was talking about currency deflation, though I should've made myself clearer, which is obviously affected by supply and demand. In this case, the supply is what you percieve to be the problem. While a low rate of inflation (the normal type) would be ideal, we needn't be too concerned about the details, considering that no one's livelihood is dependent upon the flow of regals. The reason prices are so low for both those products is that they are almost worthless. This isn't real life where there's a high cost on land, potatoes take months to grow, and picking them takes a good degree of manual labour. If you see the farms of many more dedicated players, they can take a minute out of their day to farm stacks upon stacks of various food produce, faster than dirt. Therefore, there is a huge supply of these products. Furthermore, the demand is almost non-existent, as it is so easy to produce these goods by one's self, and there isn't any great use to either product.

If your problem is that our currency doesn't cover for items of lesser value, I don't think that's anything to be concerned about. And while you may have stated that potatoes are obviously more valuable than dirt, in fact it would seem apparent that neither has any real value to the MassiveCraft community.

 

[ElfArcher9191]

I can tend to be inactive for quite some time, I always come back and I wouldn't appreciate 10%+ of my measly amount of regals being missing. Like others say, regals are becoming more valuable, this is HELPING massive's economy...this change might be too drastic and too fast

 

[Ellimairy]

@Ellimairy @xXFallenNinjaXx @ElfArcher9191 Okay if you're going to disagree at least explain your reasoning; I don't appreciate neutral ratings without explanations.

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I'm really not in the mood for this but okey here I go;

- if I go on holiday and for some magic reason I wont be able to get on, I will loose 10% of my fortune.

- some people dont want to leave massive but they have to, like learning for exams etc, etc. And 'they can pop on' isn't an excuse because these people want to study.

- and how would one recirculate the regals? Everybody gets the same amounth? Premiums pay so they would get more? Active players get more then non actives?

 

[Oxoman]

I can tend to be inactive for quite some time, I always come back and I wouldn't appreciate 10%+ of my measly amount of regals being missing. Like others say, regals are becoming more valuable, this is HELPING massive's economy...this change might be too drastic and too fast

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Just to clear things up, deflation would be a major hindrance to MassiveCraft's economy. It would encourage the hoarding of money and reduce incentives for people to sell goods, resulting in a weak trade market. Thankfully, the current effect is rather the opposite. From what I've seen, the regal is losing value, or if you're a 'glass-half-full' kind of guy, the price of goods is increasing. This encourages investment and sale of goods, thus stimulating MassiveCraft's market.

 

[krios41]

wait! stop! we miss something in this tread!
*looks around before facepalming*
it's a @Madus we miss on this thing!
oh great madus, i'm confusion (again) about inflation and deflation, pls explain (again) which what did what again and how this sugestion would affect the massive economie.
THE FOX HAS SUMMONED THOU!

 

[Oxoman]

wait! stop! we miss something in this tread!
*looks around before facepalming*
it's a @Madus we miss on this thing!
oh great madus, i'm confusion (again) about inflation and deflation, pls explain (again) which what did what again and how this sugestion would affect the massive economie.
THE FOX HAS SUMMONED THOU!

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Sorry to disappoint, I'm not Madus, but perhaps I can help you out.

Inflation is where the value of goods increases in relation to a unit of currency. It's not about a single product, but about the average of a wide range of products. For example, here in Britain, you used to be able to buy a loaf of bread for about 10 pence, now a loaf costs about 10 times as much. This is what we call inflation, because goods are more expensive. Deflation is much less common, but is just the opposite.

Occasionally people talk about currency inflation or deflation, which is the same as the above, but with currency. So where the bread has gained value, the currency has lost value. Before 10 pence bought you a loaf of bread, now 10 pence buys perhaps a couple of slices. Therefore, the currency has lost value. We mainly talk about this in relation to other currencies, but I won't go into that.

Ultimately, this is all caused by supply and demand. If more people want it (the demand increases), the price goes up. If more people are selling it (the supply increases), the price goes down.

To relate it to the current situation, Tyler821 is proposing that we increase the supply of regals to decrease their value. If the regal loses value, (so you can't buy a loaf with £1, you have to spend £1.10) this causes inflation. This means that the price of goods goes up, and although this might seem bad, it's really not! You don't want a high rate of inflation, because then all hell breaks loose, but a little bit of inflation means that people want to sell stuff and people will buy stuff, because if they hold on to their money, it can't buy as much. (For example, if I'd been saving £100 since 1950, back then I could've bought 1,000 loaves of bread, but now, because bread costs 10 times more, I can only buy 100 loaves.) If there's anything you need clearing up, just ask! I'm trying to learn all of this myself.

EDIT: I'll just quickly point out that these threads never result in anything, as the MassiveCraft economy isn't any real problem, but we're simply all debate junkies. Junkies or optimists.

 

[krios41]

ah you know, now i know this my opinion is mixed because

I'm really not in the mood for this but okey here I go;

- if I go on holiday and for some magic reason I wont be able to get on, I will loose 10% of my fortune.

- some people dont want to leave massive but they have to, like learning for exams etc, etc. And 'they can pop on' isn't an excuse because these people want to study.

- and how would one recirculate the regals? Everybody gets the same amounth? Premiums pay so they would get more? Active players get more then non actives?

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draw me to say NO to this
but
i hoard regals t so i can then buy like one thing with it (props art or lore items) and in my opinion i never can have enough and this would provide a (small) passive income and if i can go for passive, i will go passive.
someone, tell me why i should or shouldn't be against this coz IDK

 

[Madus]

Sorry to disappoint, I'm not Madus, but perhaps I can help you out.

Inflation is where the value of goods increases in relation to a unit of currency. It's not about a single product, but about the average of a wide range of products. For example, here in Britain, you used to be able to buy a loaf of bread for about 10 pence, now a loaf costs about 10 times as much. This is what we call inflation, because goods are more expensive. Deflation is much less common, but is just the opposite.

Occasionally people talk about currency inflation or deflation, which is the same as the above, but with currency. So where the bread has gained value, the currency has lost value. Before 10 pence bought you a loaf of bread, now 10 pence buys perhaps a couple of slices. Therefore, the currency has lost value. We mainly talk about this in relation to other currencies, but I won't go into that.

Ultimately, this is all caused by supply and demand. If more people want it (the demand increases), the price goes up. If more people are selling it (the supply increases), the price goes down.

To relate it to the current situation, Tyler821 is proposing that we increase the supply of regals to decrease their value. If the regal loses value, (so you can't buy a loaf with £1, you have to spend £1.10) this causes inflation. This means that the price of goods goes up, and although this might seem bad, it's really not! You don't want a high rate of inflation, because then all hell breaks loose, but a little bit of inflation means that people want to sell stuff and people will buy stuff, because if they hold on to their money, it can't buy as much. (For example, if I'd been saving £100 since 1950, back then I could've bought 1,000 loaves of bread, but now, because bread costs 10 times more, I can only buy 100 loaves.) If there's anything you need clearing up, just ask! I'm trying to learn all of this myself.

EDIT: I'll just quickly point out that these threads never result in anything, as the MassiveCraft economy isn't any real problem, but we're simply all debate junkies. Junkies or optimists.

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Very well explained.

People learn it deal with it. I'be tried several times. You can't change the MassiveCraft economy, unless you get 50+ active players (Depending on their wealth) to help you.

I'm glad to hear inflation occurs (I'm kinda inactive), that must be the first time in a very long time.

 

[Tyler821]

I'm really not in the mood for this but okey here I go;

- if I go on holiday and for some magic reason I wont be able to get on, I will loose 10% of my fortune.

- some people dont want to leave massive but they have to, like learning for exams etc, etc. And 'they can pop on' isn't an excuse because these people want to study.

- and how would one recirculate the regals? Everybody gets the same amounth? Premiums pay so they would get more? Active players get more then non actives?

Click to shrink...

I'm not really dealing with how they'd be recirculated, but why would someone be on vacation for 2 months and not have internet access? Even going on MineChat would count as logging in. Also, I don't know about you, but I don't study for finals 2 months in advance.

 

[Alj23]

Hi. As everyone knows, the number of circulating Regals is very low; only 51% of all Regals are currently in circulation, according to /money analyze.

My idea is that if a player is inactive for 60 days, they start losing Regals.

At 60 days of inactivity, 10% of all their Regals are returned to circulation.

Every 10 days after, they lose another 10%. Since that would drain their uncirculated Regals but not drain it entirely, the rest of their Regals would be collected and recirculated.


Thanks for reading.

Click to shrink...

Such a small suggestion.

• For some players, they don't time out until 100 days of inactivity with the new changes Cayorion made. You should do /f p sometime. If I have a 100 days of buffer until all my stuff times out, why should I start losing my money at 60 days? You can't have someone start losing something until they are declared inactive for all intent and purposes by the system that exist on the server. If you even wanted this idea to be considered, you should have realized that.
• You never once said how the regals were to be put back into circulation. If they begin to taken from me prematurely on the 60th day, where do they go? Do they just disappear? Poof? Go a bit further and tell us how they go back into circulation.

 

[Tyler821]

Such a small suggestion.

• For some players, they don't time out until 100 days of inactivity with the new changes Cayorion made. You should do /f p sometime. If I have a 100 days of buffer until all my stuff times out, why should I start losing my money at 60 days? You can't have someone start losing something until they are declared inactive for all intent and purposes by the system that exist on the server. If you even wanted this idea to be considered, you should have realized that.
• You never once said how the regals were to be put back into circulation. If they begin to taken from me prematurely on the 60th day, where do they go? Do they just disappear? Poof? Go a bit further and tell us how they go back into circulation.

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I haven't specified how they would be recirculated so the mods could decide the best course of action. (The simplest way would be to eliminate this fiat currency by making a set number of regals, and if someone gets money from a mob or voting, the Reserve money is used instead of magically minting new money.)

Furthermore, sure. Change it to 100 days. The day count doesn't really matter; it's the concept I was discussing.