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Empire Currencies

Author
Dolorous Tremmens
The Scope
Gallente Federation
#21 - 2014-01-21 21:20:59 UTC
all transactions in Jita will be paid in Jitcoins, which can be mined in PI with special modules requiring massive amounts of CPU and PG. Jitcoins are subject to market forces, manipulation and require players to keep their Jitcoins on their avatar, or in their ships hold, they may not be kept in containers, in stations(save on the avatars person). Transactions in Jitcoins do not show in market activity, in personal journals or in a characters Wallet.

Hahaha, this terrible idea just gets worse.

Get some Eve. Make it yours.

Soldarius
Dreddit
Test Alliance Please Ignore
#22 - 2014-01-21 21:30:30 UTC  |  Edited by: Soldarius
You know, once the ESS goes live, there is nothing stopping me from trading those tokens for other tokens or buying/selling them on the market. I see no reason I should not be able to trade them at a profit just like anything else.

Theoreticaly, I don't see why CCP couldn't take it a step further and convert the markets into local empire currencies.

Say you want to buy stuff in Amarr. The local empire market is of course based on Amarr Imperial Dinars (nice example thx I'll take it), and all you have is Caldari Kredits. I put up Sell orders for Dinars and buy orders for everything else, just like a real bank. Currency exchange. I think I like this idea.

Should be able to do this anyway. People will be willing to sell them at less than what they are worth for the convenience of not having to travel all across empire to redeem them. (Just like ATMs.)

CCP, can we get ATMs? I want to own and operate a bank.

http://youtu.be/YVkUvmDQ3HY

Erotica 1
Krypteia Operations
#23 - 2014-01-21 21:37:22 UTC
Yes, there will be more needs for Eve banks. With high enough faction standings, maybe you can borrow funds from the empire central banks to lend out.

See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.

Julius Rigel
#24 - 2014-01-22 04:40:54 UTC
Erotica 1 wrote:
Indeed, I have been in favor of an Eve stock exchange for corp shares and other things [...] mutual funds, options, and futures, etc. These are all good things. People who would choose to participate will have more tools at their disposal to make or lose isk, and more hedging opportunities to protect what they have. I would also offer people the opportunity to short sell. Fund managers, lenders, borrowers, etc would have a centralized safe place in which to do business with all of these people through my Eve organization.
All this does and has happened in EVE already.

Granted, in 2013 / 2014, it seems the MD "community" is a little smaller and more conservative than in the past. But there are still heaps of cash just itching to be invested.

When I started playing, people were trading shares through not one, but multiple stock exchanges (EGSEx, BSAC, etc.), there were multiple banks, including EBANK, and they all worked fine in their own time, even EBANK was very good, before, and in a way despite, its eventual demise.

All this and your quote, however, just supports my argument that there is enough depth and intricacy in the existing economic systems, and plenty of opportunity for using those systems to make interesting "chaos" without introducing more mechanisms into the EVE client, which is already groaning under the strain of 15 years of continuous growth and development.
Alexander wulfgard
Korrupted Gaming
#25 - 2014-01-24 15:08:18 UTC  |  Edited by: Alexander wulfgard
Let us take a step backwards and define what ISK is and what features it hold:
ISK is money in all of New Eden representing zero intrinsic value and only exist in Electronic form. It is also the only "money" available to players, and has special status in the CCP software where for example your wallet can only contain ISK, they can be instantly transferred and the EVE-Market price everything against ISK. They are created/printed out-of-nothing primarily via bounty prizes but also mission rewards etc.
In comparison ISK have similarities to the IRL Bitcoin because of its unregulated status, electronic form and instant transferability. However only a limited amount of Bitcoin exist (excluding the possibility of someone in the future will break the code and print his own bitcoins) whereas CCP can regulate and control the ISK and print it in unlimited numbers.

Why ISK is completely unrealistic as money:
All IRL history show that all monetary unions have failed without a fiscal union aswell. In essence you cannot share the same currency without also sharing the balance sheet. Most recent example is the Euro – Greek bailout, European central bank purchases of southern European debt in the secondary market, Cyprus capital restrictions (which in effect have created 2 different kinds of Euros) and European politicians push for a more integrated Euro Zone to create a fiscal union on top of the monetary one.

In New Eden Gallente and Caldari are sworn enemies so it would be completely and utterly ridiculous to think they would have a fiscal and/or a monetary union. Just imagine the Axis and Allied shared balance sheets and currency during WWII – its absurd.
In the Eve Manual, CCP tries to explain the currency setup with a background story – however this background story makes absolutely no sense to anyone just slightly educated in the field of economics.

Unfortunately New Eden only consists of 500.000 inhabitants and only 50.000 seem to logon daily. Therefore having 4 major empire faction currencies and perhaps 8-12 minor faction/pirate currencies will be damaging to the game play and put severe pressure on CCP coding costs.
An initial compromise consisting of 2 currencies (Gallente+allies and Caldari+allies) may work. All transactions done on markets in Gallente+allies stations can only be conducted in their currency, but pirate, POS or even null/lowsec stations may use both currencies.
Finally instead of money only exist in electronic format, a Cash option should emerge. Players should be able to dock in a NPC Banking station and withdraw Electronic money and get Cash delivered.

Advantages to multiple currencies:
More fun
More realistic
If implemented correctly it could open up for new functions linked to the “farms & field” concept which have been demanded by other players.
First step to create a Government/Faction bond market
Give CCP more choices to regulate money supply
Finally if CCP chooses to invest more resources into making EVE a more Economic & Financial game (instead of wasting the money on DUST) it could open up the market for new subscribers which have an interest in Financial strategy games.
Rivr Luzade
Coreli Corporation
Pandemic Legion
#26 - 2014-01-24 15:49:31 UTC
Quote:
Why ISK is completely unrealistic as money:
All IRL history show that all monetary unions have failed without a fiscal union aswell. In essence you cannot share the same currency without also sharing the balance sheet. Most recent example is the Euro – Greek bailout, European central bank purchases of southern European debt in the secondary market, Cyprus capital restrictions (which in effect have created 2 different kinds of Euros) and European politicians push for a more integrated Euro Zone to create a fiscal union on top of the monetary one.


And contemporary historic failure to cater the needs of financial and industry interests is a reason that ISK cannot work? Go back and live in your cave...Roll

ISK work in EVE also because of the wars and resentments of the races. The Minmatar economy could never sustain a healthy level of commerce and the Amarr in combination with the Calardi would do everything to crush the Minmatar currency and cripple their war efforts. The same goes for Gallente-Caldari; both depend on the other side for their vast businesses, but none of them would ever use the currency of the enemy or allow fair use of the enemy's currency in their territory. Hence, all empires agreed in accordance with Concord to use a super-currency that is a neutral ground to maintain their petty child's play.

UI Improvement Collective

My ridicule, heavy criticism and general pale outlook about your or CCP's ideas is nothing but an encouragement to prove me wrong. Give it a try.

Alexander wulfgard
Korrupted Gaming
#27 - 2014-01-28 16:12:39 UTC
Rivr Luzade wrote:
ISK work in EVE also because of the wars and resentments of the races. The Minmatar economy could never sustain a healthy level of commerce


Care to back your statement up with something?

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