Minerealm Community Forums

Hey guys, I decided to create a thread for discussing the price of glowstone. This thread is not about expanding the map or spawning GS, it's for discussing the current price of GS.

I made this thread because I personally think GS is rising in price far to quickly. With so many silk touch picks, it's very easy to pick it back up again. A silk touch pick actually costs less then 64 glowstone itself. The only other factor is potions, and the time it takes for one person to burn through a stack of GS for only potions is quite a while. It depletes it very slowly.

Keeping all this in mind, people are rising the prices a bit to fast. I think the current price should stick at 10k-12k a stack for a while. If we keep going it won't be long before it hits 20k or even higher.

You might say I'm only trying to buy GS at a lower price, but trust me, I've got plenty of credits to waste. I've already got 10+ stacks of GS myself which is more then I'l need.

I just think GS is rising in price far faster then it should be, and right now it looks like a few greedy people are just skyrocketing it for their own benefit (No offense ;p). In my opinion, it should be the BUYER that offers more and more, not the seller.

So, I don't think anyone should pay more then 12k for a stack of glowstone. I think that's pretty reasonable.

Thanks for reading, try not to flame me to bad.

(Server discussion appropriate forum?)

Agentred wrote: In my opinion, it should be the BUYER that offers more and more, not the seller.

Minrealm is an open market.
.'. Prices reflect what the market can support.

/thread

Oh good, a thread where everyone can come cry about their credits some more. This should be perfect for avoiding more flame threads posted on people's Trade Thread attempts when trying to sell their own Glowstone. Please feel free to quote this reply so you players can clarify why you cry so hard about a game's fluctuating economy that is built off of a game's population that consists of demographics similar to games like Club Penguin.

It's an artificial price inflation due to informal collaboration. The market value will drop when people stop buying it for 10k+.

To put that another way, everyone will have to stop buying to lower the price.

kroxic wrote:/thread

Really? You locked the thread?

CirJohn wrote:It's an artificial price inflation due to informal collaboration. The market value will drop when people stop buying it for 10k+.

To put that another way, everyone will have to stop buying to lower the price.

kroxic wrote:/thread

Really? You locked the thread?

no i did not lock the thread. I simply stated the basic cause of this problem.... for instance, what you said above exactly describes what I said

No one should be complaining about inflation in anything. This is actually pretty cool. This might be a price bubble! In a virtual economy! On minerealm! How sweet??!!

http://en.wikipedia.org/wiki/Economic_bubble

Here is an explanation of the current price of glowstone:

Glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because then they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> More glowstone is sold for 10K a stack --> People see this, and refuse to sell their glowstone for less because they get "shortchanged" --> Rinse and Repeat.

CirJohn wrote:It's an artificial price inflation due to informal collaboration. The market value will drop when people stop buying it for 10k+.

To put that another way, everyone will have to stop buying to lower the price.

What Cir said. As long as people are willing to buy for 10K a stack, people are going to refuse to sell for less.

There is currently double the glowstone floating around now than their was in 3.0 (discounting what was duped by Novasbiscuit). Glowstone could be purchased for 5K a stack in 3.0.

Long story short: Prices will fall eventually, can't be held artificially high too long before the market stalls.

Can I congratulate Agentred on his attempt to create a stock market?
After all if this is a free market, then having different people stating how much they would buy and sell stock, in this case glowstone, starts to sound similar to a stock market.

All I know is the way I see it is I am going to buy the glowstone and turn it over for a profit. When I buy my Gs for 10k and sell it for 15 well that's my profit. Soon since people have to buy it at 15k/stack to make a decent profit they have to sell it at 20k. As time goes on the rich get richer and the poor stay poor.

This is the story of life.
End of discussion.

jailbird556 wrote:All I know is the way I see it is I am going to buy the glowstone and turn it over for a profit. When I buy my Gs for 10k and sell it for 15 well that's my profit. Soon since people have to buy it at 15k/stack to make a decent profit they have to sell it at 20k. As time goes on the rich get richer and the poor stay poor.

This is the story of life.
End of discussion.

You don't *need* to sell it for 5k higher than what You bought it for.. You can still turn a profit with even only 500 credits above what You bought it for..