[RANT] MC Economics: Why Ores will Never be an Acceptable Currency...

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avatar gpoelcher3
Level 11 : Journeyman Artist
Instead of a cheeky intro that I usually have in my blogs and other pieces of work, let's get straight to the point. Using ores in an economy as a currency will NEVER work the way a system of currencies should. You may be asking yourself, "Why wouldn't this work?" Well, the situation between the multiple ores in Minecraft would break an economy into pieces if they were used similarly to things such as the US Dollar. One of the main reasons is the abundancy of some of these ores, which would eventually lead to an economic disaster known as inflation.

     For anyone who doesn't know what inflation is, inflation occurs when a certain currency is printed/made continously until the value is so low, that prices of general goods is oustandingly high. Of course, the value of a currency is always going to drop after more money is printed, but inflation is a much more severe case. Think of it this way. For example, the Weimar Republic (pronounced Vye-mar) after the original World War suffered a severe case of inflation. Before the war, a loaf of bread was equiviant to a single German mark. After the war, the same loaf of bread was equivilant to 1,000,000 German marks. If you follow where I'm getting at with this, you can see that this could easily happen in a system where ores are used as a currency. 

     Let's say the Geoff is a normal Minecraft player and decides to go mining. On this mining trip, Geoff comes out with fifteen iron ore that'll smelt to fifteen bars of iron, seven gold ore that'll smelt to seven gold bars, and five diamonds. However, with a system of ore currencies set, Geoff just easily became rich because of the system set in place.

Gold Nugget = One Blok (The base)
Lapis Lazuli = Five Bloks
Iron Bar = Ten Bloks
Gold Bar = Twenty Bloks
Emerald = Fifty Bloks
Diamond = One-Hundred Bloks

So in total....

Fifteen Iron Bars (150 Bloks)
Seven Gold Bars (120 Bloks)
Five Diamonds (500 Bloks)
Seven-Hundred Seventy Bloks

Within a mere mining trip, Geoff quickly got more wealthy than he started out to be. Now, imagine a server where hundreds of people could go mining independently and come out with pockets of ore similar to how Geoff did. Inflation rates would be incredibly high. Of course, this is only one case compared to a few others, but this proves my main point in saying that there are alternatives to a system of currencies.

Option A. Mods and Plug-ins that act as currency systems.
Option B. Rather than using a currency, use trading.
Option C. Make your own!

All of these options are great, but C is a much more complicated system. In order to make a system with currencies, you have to outline any possible ways to break it, which is a challenge in of itself. But of course, I won't get into that. Thank you all so much for reading, and please leave any comments or opinions down below in the comment section!

P.S. I'll be updating this blog. How often? No idea. :P

08/21/2014 4:45 pm
Level 19 : Journeyman Scribe
That's why people use in-game currency. They have an understanding that using ores as a currency is ludicrous, as it is very easy to mine for ores. Add the possible threat of hackers using x-ray, and inflation is not even a consideration, but a proven fact. Also, your system of converting "bloks" is incorrect. It takes 9 gold nuggets to get one gold bar. If 1 nugget costs 1 "blok," why does a gold bar cost 20?
08/21/2014 6:14 pm
Level 11 : Journeyman Artist
As I said, it was an example that I hadn't put much thought into and threw it together really quickly. And trust me, I know people use in-game currency, and I was making this for anyone else who has had the thought. And please keep in mind that I said I would add more to this. Thanks :P
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