WTF Happened with the Diamond Price?

I've paid 80r for a diamond before. The next day I paid 40. Bockbeard.

 

I think we can get it to 50 in a month. No one will be hurt, so much money is getting put in economy, with not enough things taking it out.

 

This is what I was talking about before.

 

Disable fortune on picks? That would work a charm. Would take a while for there to be any difference, but im sure it would work.

Surprised nobody has said this yet...but...why does it matter? Why is this even a problem?

 

This. It really isn't a big deal. They're low because people don't want them. If you all really care, try and think of new and appealing ways people can spend/use their rupies/diamonds.

 

Yes, although higher diamond price will mean more money to the already rich players, it will also give more money to other players. If my selling price was 50, I'd put my buying to around 45. This'd hopefully help out other players get more money.

Although, does this really mean much, if rupies are harder to get? The only big things to spend money on are warps or towns

 

i like what dyno said with needing another use for them, and one you cant regen back for half the cost. is there any way to make casino's take diamonds? like one diamond to win?

 

Although probably impossible, a kind of randomised cash4diamonds, so if you sell, it could be any value between 20r and 70r. This'd be a nice gamble for selling diamonds

 

I'd liked several comments here, but will only post a couple that make most sense to me:

salmon flavor says: Surprised nobody has said this yet...but...why does it matter? Why is this even a problem?

max says : Market made it drop, oh well.

there will sometimes be winners and losers! I'd lost a bundle in just one week trying to play the diamond economy, so I know the loser part first hand.

 

and that noob is banned for x-ray

 

lol, I said exactly the same thing about the price fixing, being illegal and all. It is totally legal on this server correct?

 

technically we could all just raise our prices and say we burned half of our supply and nobody would really have means to prove whether it was done or not

 

Yes, lets all burn our own diamonds.

 

Having returned from a long break from MC, my last session on this server was when Diamonds were about 75r. Now they are at about 35r-40r.

When Im in building mode I spend almost all my rupies on materials so I can have a better balance of build time versus collecting time. I have not noticed much of a difference in my building momentum. I still seem to have a steady stream of the materials I need.

I believe this is due to the drop of several other materials in price. Maybe not as much as diamonds have, but enough to mitigate and offset the shift in diamond price. Diamonds have seen a big drop in price but their relative value to the market in general has not fallen near as much.

So yeh, the micro economic view on diamonds is a bit grim but I believe also misleading. The global economic view on diamonds is not bad at all and I believe much more applicable for this type of analysis.

 

Problem is, it doesn't work at all like a real economy. If everyone could easily make enough money to buy 12 diamonds a day, inflation would be insane.

And with building mats, that's what I aimed to do, really. I always saw prices, and thought it'd be easier to just get them myself, so now they're cheaper

 

The reason the price of everything is dropping is because

1. You don't NEED anything in minecraft, you can just dig a hole and sit there until you die, waiting for the faithful day you starve to death and respawn.
2. There is more of everything in circulation, people keep adding resources to the total, and no one is losing diamonds faster than they are being added.

Lets say there are 1,000,000 rupies in the total. If there are 500 diamonds, each would be worth 20000r, but if there are 50,000 diamonds, each would only be worth 200r. This is clearly hypothetical, but this is pretty much what is going on, except with a higher rupie total, and a much, much higher diamond count.

 

Well this is where goverment regulation comes max could set a bare minimum price idk lets say diamonds are worth 50r he keeps cash 4 diamonds constantly going it should cause some prices to raise. Maybe make exp more dynamic like allowing players to sell it http://forums.bukkit.org/threads/econ-gen-xpconomy-v1-1-exp-trading-1-2-3-r0-2.62512/ therefore not always dumping there exp immediately into picks or items. Merchants would at least try holding and go mining therefore depleting the world but though it creates a rich class (already is one) You figure everyone else will be mining also cooking everything etc. If you couple this with making farming spawners illegal since we can mine and cook for exp. Could fix your enchant problem

 

Diamonds are hopefully going to be stabilizing at 45r.
With the amount that can be sold at cash4diamonds when the money is reset, it is still very good. Over 2000 diamonds were sold in a period of 15 minutes before, with about 600 being purchased from shops, to just sell

 

ok, this discussion is stupid... i avoided it since it began but now.... i cant


MINECRAFT IS NOT THE REAL WORLD!

we dont work like the real world, we cant force it to work like the real world, so stop trying to make it work like the real world!

diamonds are mined everyday, there are still THOUSANDS upon THOUSANDS of diamonds out there. people are finding them, and then they dont need to buy...

a newb wants a diamond pick... two choices, pay 100-150 for a pick or diamonds to make said pick, or go out mining for 15-30 min and get the diamonds yourself.... Alot take the second option.

this is a game where you can get the items yourself, you dont need to buy anything... the only people that buy are the ones that dont want to go get it themselves... and alot of those people now play on creative. they just want to build. Those that want to survive, dont want to pay.

how can you not see that?

This is not an issue, this is minecraft reality. Every three four months there are huge concerns about price dropping! oh noes! prices will continuously drop until diamonds are valued slightly higher than the cash for gold kiosk. the cash for gold has set the bar, when we change that bar, the market will fluctuate. and no, dont ask for the price of cash for gold to be increased. that is stupid... You dont need to fix minecraft Economy, it was this way from the start so is it really broken, or just a closed market system where items are created but nothing is consumed.

 

That uhh.. pretty much sums it up