ECO 9.5.4 - Land Claim Value as Currency | ECO Mistakes | Guide
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- čas přidán 16. 07. 2024
- Land and Land Claims might be the the most valuable commodity in ECO. But how much is land worth? Should you buy or sell ECO Game Land Claim Papers? Is this a good idea or a bad idea? In this episode, I might have made one the biggest ECO game economic mistakes with land claim papers...or was it? The ECO game treats land claims as currency so I dabble with buying and selling land claim - was it the biggest mistake I've ever made as the ECO Treasurer? Watch and find out...
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I interpret this as something completely different. Here we have a break from usual currency proliferation methods and there's now a glut of currency infused with the economy. Rather than inflation of prices, you greatly boosted the economy's confidence into (over)spending, and thus created a booming and expanding society. How is this a mistake at all?!
If anything, you should try to recreate this, but without the cost of having to sell land claims and find other ways to divest government money to the people instead.
P.S. Greetings from Maiestas Haven. We'd love to have an economic policy showdown with a shared world, different settlement game sometime.
a new vid thats nice :)
Appreciate you browsing the channel pofe!
Ah, this is why White Tiger pegs its currency to 100 per 1 Land Claim and makes that the base for government currency. It keeps the land price fixed and lets everything else fluctuate based on that constant.
I guess another way of solving this issue would be to make the government land store have its own separate account and control how much money gets put there. If it can only buy 100 land claims, you will have to wait for someone to buy some to be able to sell more. Then with the price difference between buy and sell you can slowly ramp that number up, or you can drip feed it some money with a law.
White Tiger also had a good idea with its skill scrolls being expensive to make - creating a constant need for research papers from every profession to help anyone be able to earn some money.
We don't make books. The research gives you varying amounts of skill scrolls based on the tier of research. So like when you research Carpentry scrolls you get 3 each time you do the research.
That is interesting that a >30% increase in the money supply did not cause inflation and led to more goods and services being created, reminds me of antony davies when he says money is oil in an engine, too much will flood it, but you need some to get the engine to work, I don't understand it. Maybe of the value of something was so precise so increasing the money supply made a difference of 0.005p for example meant things could be more accurately valued
I think on this server where the goals are more long term, the dump of money just got absorbed into the bigger picture - that's what seemed to happen anyway. It also came at a time when the first big machines like modern trucks, skid steers, and excavators were coming on the market, so a fair bit of that got pushed into those industrial professions, and those folks just had to realize that it was a short term windfall that would likely be followed by a bit of drought on selling those machines...which it did...but even that balanced out eventually.
@@Oearth so the economic output expanded at the same time as the money supply expanded, so milton friedmans hypothesis works in this instance, next time when big machines come on the market it would be interesting to not add any extra influx of currency, and see if that causes any deflation.
One thing that really brings this to mind, Dadspeed as a server is so different to many other servers out there. Each server should establish its own economic norms.
Essentially what you have done here is stimulated the market with a fiscal policy of sorts. Prices likely didn't increase because production kept pace with supply, so you just had a boon in trade.
Btw, one tactic that often happens when LCP's are traded for currency, players who have unlocked research will price skill scrolls competitively to take advantage of players looking to make free money they otherwise would not have. If you price lcp at £100, selling a mechanics skill scroll for £250 makes absolute sense, because both parties will make £250 on the trade.
I've actually used LCP before as the basis for a currency on official servers. Set the mint to public with no limit, it works because it's easy for everyone to trust the value. A LCP is worth it's mint value and everything is around that point.
This is very useful because on official servers, you need to be quick. The economy usually only last 2 weeks and players often don't trust others, so the quick rush of currency really helps kickstart the server and build the lasers.
I'd be lying if I said the thought didn't cross my mind to sell 300 land claims. I trust someday it'll eventually be made worth my while to have kept all that farmland, but man it's been a struggle not having that bonus starting cash trying to get industry running. I've only just barely made my first truck last night.
Another consequence of the land claim influx was there was only one person who could make skid steers for a long time during that first rush. And I'd imagine other markets were similarly limited. Meaning a few people ate up a lion share of the influx.
Great video! I may have sold one or two land claim papers myself but I certainly didn't get rich. I didn't know it was $600,000! The upside is the the money should stimulate the economy like an economic stimulus package and the local government should get back the money in tax revenue anyway?
Damn, didnt know the figure was 600k, gonna have to look at my profit margins.
Ive been paying premium on my mats and still no one is selling. Been buying up most the market on cacasses too.
I haven't even finished watching the video and i'm like..
"yeah, eco currency is incredibly dependent upon being repeatedly spent, but land claims are the exact opposite, something that piles up and never gets spent"
and of course there's the fact there's an incredibly limited number per player even if the government gives out skill scrolls for every skill.
Edit; oh and something i didn't realize before was that you can't exchange the currency back into the resource, so it EATS UP LAND CLAIM PAPERS FOREVER
Ope
Edit: oh. that is NOT the problem i expected at all!
To add some more context. This season, for some reason, raw resources are cheaper than normal at this point in time. Logs were being bought for 0.5, stone 0.15, a lot of crop 0.2. That's less than normal in my experience on DadSpeed. The fed was buying land claims at 1000 each. Skid steers cost about 25,000. Also at this point people haven't read all their skill scrolls yet. So people were running around buying up scrolls to sell the land claim papers. It was a perfect storm.
What is normal for crops in your experience? When I joined last season they seemed to be around there and for most of the new players that seemed unreasonably high and it was a struggle to convince the market to move that direction. Masons would build their own rice fields for the sole purpose of circumventing the 0.15 price of rice
@@assimilater-quicktips Remember last season had the farming subsidies so crops being 0.2 last season would be like 0.4 or maybe even higher this season.
Plus around day 60 or 90 they added that Advanced Cooking/Baking subsidy where you were refunded 50% of the price if you bought food from those vendors.
@@rathelmmc3194.4 O wow
@@assimilater-quicktips Yeah, remember there was the seed planting subsidy. Then the farmer also got paid by the government if the land was in the agricultural district. There was a lot of money routed to farming.
Sounds like stone, logs, and crops had the same ratio as they did on the server i was just on, but either ore was going for way more or people in the process of making skiddies were taking ENORMOUS profit margins compared to the server I was on, as skiddsteers were only going for about 2,000 to 4,000 (and the latter only for like the first skidsteer)...
There is another currency/commodity to be considered here. Time. The actions of players in your economy is to be found in the use of that currency.
Time - as a currency is the most peculiar. One, it is arguably the most valuable currency - but especially so in a simulated (non-real) economy like Eco. Time in real life passes no matter what. However in Eco - time is split into an ever-passing element, and a chosen time-spent playing element.
Time is also peculiar in the sense that it can often only be traded at certain times - especially in respect to eco. (You cannot run your farm in game using the same time you have to run a business in real life) Time also cannot be purchased or spent/sold at the same - and when these options are available varies among players.
For example. A server where everyone plays during the same times functions economically very different from servers where they do not.
yeah. I've seen people try to start up enough of a demand for hauling as a buisiness by making a large enough gap between their buy price and the sell price, because hauling the stuff around can be quite the chore.
hey Oearth there is a new update you should check it out (if already played it then exited to see the vid)
I saw! I'll be giving the update a little shakedown and talking about it at some point. :) I'm usually a bit delayed due to the time production time though.
update 10...
This game look cool
It can be quite addicting!
Whoever decided land claim papers should be worth 1000 when crops and logs are at .2 , .5 respectively should get booted from their elected position.