[Denied]Implementation of usable currency in PokeMMO (updated 4/08!)

[Tyrone]

Implementation of usable currency in PokeMMO.

The main characteristics of currency are (1)durability, (2)divisibility, (3)transportability and (4)noncounterfeitability.
I would like to share a thought on how to implement this into the PokeMMO game.

My idea is, to create a currency based on the value of lucky eggs. Seeing how the value of this item remains relatively stable.
In real life, you may compare the lucky egg to the value of gold. Throughout history currency has been often been in direct relation to the value of gold. See gold coins for example. (1) and (4).

So, with this being said, I would sugest to implement an exchange office. In this office you can trade a Lucky Egg for 95* "Tyronecoins". AND trade 100 Tyronecoins for a Lucky Egg.

update: I sugest making Lucky Eggs untradable between players, as this leaves room for price discrimination.

These Tyronecoins can be stacked up to as many as you'd like and are put in the key bag slot and are tradable between players. (2) and (3).
edit for clarity: The only way to obtain these Tyronecoins are: 1. Trade your lucky egg in the office for Tyronecoins. 2. Trade your TMs/pokemon for another player's Tyronecoins.

update: Another way to receive Tyronecoins could be the implementation of a few daily quests. For example: Faint 15 Sneasels in Icefall Cave to receive 3 tyronecoins. Defeat 20 players in a row in the trainer tower to receive 5 tyronecoins. The main idea here is to create a fun way to receive the currency, also a way that can not be abusable. Adjusting the numbers to create a time and effort relative to the reward received isn't something I can do.

With these Tyronecoins, one could also set the value of casino coins. I've read that about 10 Hidden Power/Return Tms are worth roughly one lucky egg. So The value of one TM10 would be 10 Tyronecoins. And the value of Icebeam etc could be 6 Tyronecoins.
One could create a list of values of Tms so it becomes clear how much each TM is worth.
edit: Setting a constant price for TM's isn't a good idea. TM's are subject to price changes because the demand or supply may vary.

update: The creation of a story-line only TM shop, which sells all the story-line TMs for Tyronecoins (prices depending on how far in the story and usability). This will act as a sort of money sink as well as create a easier method to obtain TMs. In addition to this, I sugest making these story-line TMs untradable between players and sellable to the store for 1/3 of the buying price. The untradability between players is to keep the rule of 'one price' in order. Game corner TMs will remain as they are.


The value of shiny pokemon WILL REMAIN a result of supply and demand. This means that prices of shinies are fluctual as opposed to constant. What this sugestion does do is increase the market for common shinies. No longer will that shiny tangela, pidgey and tentacool be difficult to value or trade because the value of an egg is too high.

Please give me some constructive criticism and other ideas concerning this kind of implementation of a currency in PokeMMO.

 

green edits were made shortly after the thread's creation.

red updates were made august 4th after some discussion with a teammate

Edited August 4, 2013 by LeTyrone

[Ssin]

love the idea, hate the name of tyronecoins :p

 

100 Ssins and 1 Ssin sounds waaaay better

[Munya]

Not a fan but if it is implemented in some form it should cost more to buy an egg than what you get selling an egg.

[Tyrone]

Not a fan but if it is implemented in some form it should cost more to buy an egg than what you get selling an egg.

Well, it should be a relatively small difference. Currently gold prices work like that as well so I get your point. Let's say Buy Price (Bid) 100 and Sell Price (Ask) 95.

 

 

 

love the idea, hate the name of tyronecoins :P

 

100 Ssins and 1 Ssin sounds waaaay better

 

Ofcourse the name is a placeholder.

[fredrichnietze]

there should also be a way to generate this "currency" other then selling eggs/gc stuff. however the rate of gathering this currency should be so low as to take 100 hours or so to afford a egg. also maybe some way of transferring poke dollars into this currency but at a rate of 1million poke dollars = 1 of these coins

[Tyrone]

there should also be a way to generate this "currency" other then selling eggs/gc stuff. however the rate of gathering this currency should be so low as to take 100 hours or so to afford a egg. also maybe some way of transferring poke dollars into this currency but at a rate of 1million poke dollars = 1 of these coins

I definitely agree on this. Just haven't thought of a good way to implement this.

I don't want to link the value of poke dollars with the Tyronecoins to be honest.

[Eggplant]

Not a fan but if it is implemented in some form it should cost more to buy an egg than what you get selling an egg.

Not really, I think this shouldn't be a shop, but mroe like the duty-free zone of an airport where you can exchange currencies.

 

And what's wrong with the regular pokedollars? :p

I simply don't think they want you to be able to buy eggs, whether it's for $1,000,000 or 100 tyrones.

But really, simply implementing the ability to trade money should help most of this issue.

[Tyrone]

Not really, I think this shouldn't be a shop, but mroe like the duty-free zone of an airport where you can exchange currencies.

 

And what's wrong with the regular pokedollars? :P

I simply don't think they want you to be able to buy eggs, whether it's for $1,000,000 or 100 tyrones.

But really, simply implementing the ability to trade money should help most of this issue.

 

The pokedollars are already WAAY too inflated. People are walking around with Millions already.

[toniostyl]

My idea is, to create a currency based on the value of lucky eggs. Seeing how the value of this item remains relatively stable.

In real life, you may compare the lucky egg to the value of gold. Throughout history currency has been often been in direct relation to the value of gold. See gold coins for example. (1) and (4).

 

I'm not studying any economics or anything but for me it seems pretty weird that the value of the lucky egg may remain constant.

 

First of all, because there will be more and more lucky eggs day after day and thus infinitely. You don't see that in your everyday life.

 

Second of all, about the money (let's call it PokeDollar for the sake of the game). It will have unlimited supply as well, as people will spam even more the E4/Gorgeous Resort with their persians. 

The governments used to rely on gold for the sake of their currency, but it's not the case anymore. And nowadays governments try to regulate the amount of money in circulation, which clearly isn't the case in pokemmo.

So when trying to compare the pokemmo economy with our real life's economy, we would probably fail because of these 2 points.

 

Also, not using the pokedollars because you think they're too inflated, but still willing to pay 1 Million for 1 tyroncoin sounds pretty silly to me.

Why don't you just deflate the value of the pokedollar ? 

 

To me the reasoning is exactly this:

 

Okay so people got tired of saying  9 460 730 472 580 km so they created the light year (pretty much the equivalent of the TyronCoin) so they could talk about less ridiculous distances like 50 million light years instead of... well you do the maths. But the result is exactly the same.

[Eggplant]

The pokedollars are already WAAY too inflated. People are walking around with Millions already.

What's wrong with that? It's hard-earned money, they probably deserve it, and they'll buy a couple eggs, and they'll be poor.

[Tyrone]

I'm not studying any economics or anything but for me it seems pretty weird that the value of the lucky egg may remain constant.

 

First of all, because there will be more and more lucky eggs day after day and thus infinitely. You don't see that in your everyday life.

 

Second of all, about the money (let's call it PokeDollar for the sake of the game). It will have unlimited supply as well, as people will spam even more the E4/Gorgeous Resort with their persians. 

The governments used to rely on gold for the sake of their currency, but it's not the case anymore. And nowadays governments try to regulate the amount of money in circulation, which clearly isn't the case in pokemmo.

So when trying to compare the pokemmo economy with our real life's economy, we would probably fail because of these 2 points.

 

Since when did people stop mining for gold? (point 1)

I edited my post into saying I don't want to link pokedollars to the new currency (point 2)

 

 

 

What's wrong with that? It's hard-earned money, they probably deserve it, and they'll buy a couple eggs, and they'll be poor.

 

'Deserve'. Pokedollars aren't exactly hard-earned. Especially when selling items becomes available.

The "Tyronecoins" I have in mind are too make trading shinies/competitive pokes/TMs more easily.

[Dannnno]

I'm not studying any economics or anything but for me it seems pretty weird that the value of the lucky egg may remain constant.

 

First of all, because there will be more and more lucky eggs day after day and thus infinitely. You don't see that in your everyday life.

 

There will also be more players and more of other items in the market. Theoretically the quantity of eggs will continue to scale (approximately) to the quantity of other things.

 

Second of all, about the money (let's call it PokeDollar for the sake of the game). It will have unlimited supply as well, as people will spam even more the E4/Gorgeous Resort with their persians. 

 

They already do this, and it would be an issue, whenever they implement money trading. You just have to set high enough of a value ratio to account for it

 

[XelaKebert]

Implementation of usable currency in PokeMMO.

 

The main characteristics of money are (1)durability, (2)divisibility, (3)transportability and (4)noncounterfeitability.

I would like to share a thought on how to implement this into the PokeMMO game.

 

My idea is, to create a currency based on the value of lucky eggs. Seeing how the value of this item remains relatively stable.

In real life, you may compare the lucky egg to the value of gold. Throughout history currency has been often been in direct relation to the value of gold. See gold coins for example. (1) and (4).

 

So, with this being said, I would sugest to implement a shop. In this shop you can trade a Lucky Egg for 100 "Tyronecoins". AND trade 100 Tyronecoins for a Lucky Egg. These Tyronecoins can be stacked up to as many as you'd like and are put in the key bag slot. (2) and (3).

 

With these Tyronecoins, one could also set the value of casino coins. I've read that about 10 Hidden Power/Return Tms are worth roughly one lucky egg. So The value of one TM10 would be 10 Tyronecoins. And the value of Icebeam etc could be 7 Tyronecoins.

One could create a list of values of Tms so it becomes clear how much each TM is worth.

 

The value of shiny pokemon WILL REMAIN a result of supply and demand. This means that prices of shinies are fluctual as opposed to constant. What this sugestion does do is increase the market for common shinies. No longer will that shiny tangela, pidgey and tentacool be difficult to value or trade because the value of an egg is too high.

 

Please give me some constructive criticism and other ideas concerning this kind of implementation of a currency in PokeMMO.

 

You missed the big difference between money and currency because both have the characteristics you described. Money has something of value backing it; Gold and Silver Certificates are an example of money. Currency is what most countries use to purchase goods and has nothing of value backing it; the US dollar is a prime example because it is backed by debt and is only of value because the US government says it is worth something.

 

As far as being able to set a value on casino coins. No, those are a currency used exclusively at the casino so having a separate system that sets the value of them is useless.

 

As it stands right now, most of what has a high value is because of supply and demand. Which is why common shinies are generally about 1 Lucky Egg a piece as opposed to rarer shinies.

 

 

The pokedollars are already WAAY too inflated. People are walking around with Millions already.

The same logic can be used for Lucky Eggs. There are people who do nothing but collect them. The reason why people are sitting on millions of Pokedollars is because there is no system to trade them between players yet. They do have a system for that in the works, they just haven't worked out the details yet. Once a system for trading Pokedollars is in place, there will be a more stable market currency using Lucky Eggs and Pokedollars, which Pokedollars being backed by Lucky Eggs, ie. 1 Lucky Egg would cost around $100,000 Pokedollars. People will just make do with what is in the game.

 

 

Since when did people stop mining for gold? (point 1)

I edited my post into saying I don't want to link pokedollars to the new currency (point 2)

Point 1: People may still mine for gold, but there are very few countries, if any, that use Gold to back their currency. The US was taken off the Gold Standard about 50 years ago and now the dollar is backed by debt.

 

Point 2: Why add an extra "currency" to the game when, as I said above, a system is in the works to add trading of Pokedollars between players. Once such a system is in place, the players will use those to purchase items like Lucky Eggs from players.

[SirAtlas]

Implement Trade-able Pokedollars and the ability to sell items

 

Remove the 100 EV cap on vitamins but keep the price the same

 

Remove the 1000 coin limitation at the game corner while increasing the price of prizes 

 

Implement a shop that sells rare candies at a high price

 

Allow the reuse of move tutors but with a fee

 

Implement a shop that sells every non game corner and Celadon Mall TM

 

Implement a wager system on dueling

 

When dueling an NPC implement a system where you lose money if you "white out"

 

People realize the benefits of having money and start trading that in addition to pokemon and TMs and because Lucky Eggs is a terrible currency

 

Boom

[toniostyl]

Since when did people stop mining for gold? (point 1)

I edited my post into saying I don't want to link pokedollars to the new currency (point 2)

 

 

 

 

'Deserve'. Pokedollars aren't exactly hard-earned. Especially when selling items becomes available.

The "Tyronecoins" I have in mind are too make trading shinies/competitive pokes/TMs more easily.

 

Since when did gold become an infinite resource ? There's only a finite amount of gold on this planet and that's part of the reason why governments stopped linking the value of currencies to gold.

 

If TyronCoins are available for a certain amount of pokedollars, I don't see why it would make trading more easy at all. I might just think to myself, this is worth 1 tyroncoin or 1 million pokedollars.

 

EDIT: Now you stated 100 TyronCoins for 1 lucky egg. I see your point, but since pokedollars and lucky eggs are lootable items. It still doesn't make a big difference to me.

EDIT 2: @Dannno [/quote] There will also be more players and more of other items in the market. Theoretically the quantity of eggs will continue to scale (approximately) to the quantity of other things. [/quote]

I see your point but say the quantity of lucky eggs increase faster than the quantity of "other things" ? Or the other way around ?
Then there'll be a great inflation/deflation.

[Tyrone]

I have to go to bed now, but thanks for the constructive feedback so far.

[Quakkz]

The pokedollars are already WAAY too inflated. People are walking around with Millions already.

 

correct me if i am wrong, but how can u say its already inflated? we have nothing to buy now except the typical pve stuff... so when moneytrading would get implemented prices would be pretty high in pokedollars, maybe 20 millions for a good pokemon or something...

[XelaKebert]

correct me if i am wrong, but how can u say its already inflated? we have nothing to buy now except the typical pve stuff... so when moneytrading would get implemented prices would be pretty high in pokedollars, maybe 20 millions for a good pokemon or something...

Not even, the prices will reflect the perceived monetary value of the Lucky Egg, ie. 1 Lucky Egg would be about $100,000-$500,000 Pokedollars.

[Dannnno]

Not even, the prices will reflect the perceived monetary value of the Lucky Egg, ie. 1 Lucky Egg would be about $100,000-$500,000 Pokedollars.

 

more than that, you can do that in a few hours

[XelaKebert]

more than that, you can do that in a few hours

You get the idea though. Pokedollars will likely replace Lucky Eggs as the reserve currency in game should trading in game money between players get implemented.

[Quakkz]

the question is will ppl give their lucky eggs away for pokedollars, or do they fear to get nothing in return (failed currency). i guess the game needs some good mechanisms that make pokedollars desirable.

[enochtheprophet]

I like this idea, I even like the idea of using pokedollars (assuming the amount of pokedollars needed to obtain a lucky egg would accurately reflect how rare lucky eggs are and the time needed to obtain\farm them) As long as it doesnt stray away from the idea of giving a good constant way to asses Item and TM values. I like the idea of using supply and demand to asses the value of these items, however I also feel like there isn't a good way to measure that. With retail stores they can accurately see suply and demand based on sales and available inventory. Maybe if there were multiple shops that competed and had to fluctuate prices on eggs based on supply demand. But without a "limited supply" you can't asses either one accurately, so i think that value should remain constant. Maybe pokedollars would be more desirable if you obtained less of them during battles. If the cost of normal cost of items were lowered based on how much the amount of pokedollars recieved would decrease then normal game items would remain affordable, and getting 100,000 would be much harder even with selling items (assuming their pokedollar value also decreased)

[XelaKebert]

the question is will ppl give their lucky eggs away for pokedollars, or do they fear to get nothing in return (failed currency). i guess the game needs some good mechanisms that make pokedollars desirable.

It's possible, but right now the only reason Lucky Eggs have the status of currency is because the players have placed a value on them. If everyone suddenly switches to using certain TMs as currency, Lucky Eggs cease to be of value. If there was a currency that Lucky Eggs could be converted to, and from, the values could become more stable or they could destabilize the entire market, but since it hasn't been tested, no one knows what effect it will have on the in-game economy.

[XelaKebert]

Remove the 1000 coin limitation at the game corner while increasing the price of prizes 

That's not going to happen for these reasons:

 

1. The GUI is finished so the coin limit cannot be increased without having to reconstruct it.

2. It would negate the purpose of having a casino in the first place.

[SirAtlas]

That's not going to happen for these reasons:

 

1. The GUI is finished so the coin limit cannot be increased without having to reconstruct it.

2. It would negate the purpose of having a casino in the first place.

 

Step 1. Make money trade-able and items sell-able

 

Step 2. Increase the price of coins. For those who cannot afford to buy 9999 coins, there is always the option of spamming the down arrow key and "z," or botting.

 

Step 3. Remove the 1,000 coin limit

 

Step 4. Dramatically increase the cost of prizes excluding the smoke ball, mystic water, etc.

 

Step 5. Make items such as the mystery box, tuxedo, and team rocket suit trade-able (can be used as prizes and even in addition to Pokedollars).

 

Step 6. Catch casino botters and payday botters.

 

Boom