Economy and Inflation

[Madd]

I might consider the linear revaluing after all. I'm not really sure.

[NKfloofiepoof]

I say reset gold AND taxes

I second this emoticon. A few handfuls of people on MS have a few million gold, so those of us who can rarely keep more than 200-300k (some people can't even clear 100k) deserve to get knocked down to 0 along with them? Resetting gold is not the answer and would only cause more harm than good.

Piney mirrors my thoughts on the matter. Donis are the problem - there are fewer people who can afford them due to the economy IRL, so there are fewer in the marketplace. Those who can still buy and sell them can charge as high as they want because they don't have nearly as much competition. Release the doni breeding potions that have been "accepted" in the suggestions forum for two years now.

[Raneth]

Will a slower, gentler option work?

Take away mining first thing. That is the root of a lot of problems with the economy, especially since with mining in place, gold sinks don't work.

However, if mining is gone, gold sinks will suddenly become quite relevant. It will take some monitoring, but if you coincide hefty gold sinks along with the absence of mining, those who worked hard for their gold through mining can get some benefit out of it (maybe by using gold to get their hands on some really expensive pets). That way the gold will filter out of the system. Once things are a little more stable, there won't be a need for such large gold sinks.

It's not a full solution, but it is a thought.

[BBkat]

My only problem with the silver system is that what's to prevent inflation from rising all over again? I still think inflation can be fixed without overhauling the currency system. Bigger and better gold sinks do help. I've actually noticed this as after the Halloween Gifting, Solstice Caravan, and the big spender's NA, doni prices did dip. At least in the following NAs. So I say we repeat the trend of more gold sinks, not only for getting new pets but also for some functions of the site like renaming, potions that do various things to creatures, and etc.

Also the doni-breeding potion should help lower the price of donis too. The main reason for inflation is the high demand and low supply, so if you increase the supply the prices should drop and such. But yeah. That's just my opinion.

And isn't that how things work anyways, supply and demand-
High demand, low supply= high prices
So, you raise the supply to meet the demand and prices will drop.

The doni breeding potion and more gold sinks sound like a very good idea. Gold sinks filter excess gold and doni breeding potion helps raise the supply of the wanted donis, which should cause they're prices to dip a bit-just look at the parentless hybrids after the crash. The number of them increased so much that the price dropped.

And in the suggestion thread it even said that a doni breeding potion/something to allow 1 guaranteed breeding had been approved, but we haven't gotten anything yet.

[Kestrad]

Gaia's "Dernier Cri" or whatever it was called shop comes to mind, where they sold a few absolutely gorgeous items...for at least 8,000,000 gold each.

[Madd]

I'm a big fan of the slow and gentle approach, but I fear that if we took away mining without revaluing the currency, people with millions would ride the deflation into super-richosity.

[Raneth]

I'm a big fan of the slow and gentle approach, but I fear that if we took away mining without revaluing the currency, people with millions would ride the deflation into super-richosity.

Perhaps the square-root tax is best then. I'm just not a huge fan of taking away people's gold-They did work for it.

Maybe everyone who had a ton of gold gets a rare pet? Probably a stupid idea...

When all is said and done, I'm honestly just thrilled to see mining finally go. Please, whatever solution you pick, make that part of it.

[Lazuli]

I was just listing every idea I could think of. The square-root curve is probably the only one I would consider.

Square root seems fair

I do kind of agree with this, but then the inflation would just start all over, wouldnt it? It'd have to be repeated every few months. Also, how would you take gold stored in trades into account?

I like the third currency, but again, wouldnt you end up having to create another currency in a year to combat the new inflation?

Note I have no experience in economy whatsoever, so I may end up just sounding like an idiot. I should have my history teacher come give you some ideas, he is obsessed with the economy and has a ton of ideas on how to fix it in real life. Maybe I'll ask him when I go back to school on Monday?

[Madd]

Edit: someone beat me to it, kinda

Hey, here's an idea. We make some really nice pets, then sell them in a compulsory goldsink. If you have over some arbitrary amount, you have to buy them until you have less than that arbitrary amount. (Arbitrary amount = 2 million, price of pet = 1 million?).

This would cause an interesting effect. First of all, the maximum amount of gold anybody would have would be less than two million. However, the users who no longer had tons of gold would have rare creatures instead. Nobody else would get these.

Right after that, we would reform the income system (remove mining, or other options on Part 1)
This would almost immediately stabilize the financial system, and the users would then have the options of selling those rare creatures they got. By waiting until the financial system stabilized, they would have the same equity as before the entire process began.

[Ryu97]

I was thinking about the whole economy thing, and I came up with an Idea.
You see, there are new people coming that miss some donis,, and maybe people are not selling the donis they want, or maybe they do but to a higher price, so I was thinking that maybe we should create a shop where they sell old donis, Instead of using shards you use gold, and every month the donis will change. I know it may not sound like a good idea, even because it wouldn't make any sense if you can get any donis from other users, but it may be an idea.

I also approve with opening shops or adding new features that require gold to access.

Sorry if I don't make any sense, I'm just a little tired.