Economy Analysis: January 24th

The server has been up for close to two weeks, and before we jumpstart into the servers first month anniversary, lets review the economy and detirmine what's going well and what's not.

Where's the economy now?
Status: For the first weeks of the server, an influx of materials such as ores, gems, and enchanted tools were brought into the economy because of the profitability producing goods in an environment where not many people have a stable enough income to purchase services. As people are gaining enough money to start towns, town owners will purchase building blocks for their towns and will show the first real "demand" for goods meepcraft has seen yet.

Is this a healthy economy?
Very much so. Since minecraft is a place where necessities such as food, shelter, and transportation are not necessary and don't need to be purchased, the production of goods will almost always be more than the demand for them. Demand for goods, as said in the last paragraph, will rise to normal levels when towns develop. The hard work of the staff team has ensured that extremely profitable methods of making money, such as pre nerf fishing, don't make their way into the economy again


What should I do with my diamonds?
The best thing to do is to hoard them and wait for a market of diamonds to develop. Almost surely, someone who made millions off selling ranks will buy loads of diamond blocks to use on extravagant displays of wealth. When this happens, diamonds will temporarily become very expensive and will provide an opportune time to sell them. Although this is just pure speculation, there is no doubt in my mind that a better diamond price will develop in the future, making selling diamonds now a waste of potential. Only sell if you need immediate money.

What's the best way to make money right now?
Even though the economy has just started to develop, many diverse avenues of money making can turn out profitable. Here's some professions to name a few.
-Enchanting
-Building
-Mining
-Herbalism/Fishing

Try being creative, and expanding into niche markets people may have forgotten about (selling netherrack, endstone).

Happy Mining, Meep!

 

I love how you say you can do all these jobs but say happy mining

Very good post. I agree with the diamonds part, selling them right now causes further deflation which is very unhealthy for the economy. Right now, farmer job keeps breaking so it is not profitable. (Coming from a herbalism level 300 person) Builder job is also broken but if you are a good builder, you could profit from building for rich people.

EDIT: server has only been up for 12 days