Chad's Trading Study (post under construction)
#1
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Hi Guys

I have decided to do an in-depth trading study of the economics of trading on the minetexas anarchy server and post the information here for all to see. This post is currently "under construction" which means I am regularly adjusting estimates, text, and formatting etc.

I will be looking at
  • Why people trade
  • What people trade
  • Risks of trading
  • How to trade
  • Currency
  • Changes since 1.9 update
  • Economics of mining
  • Economics of manufacturing
  • Villager trading
  • Bulk Markets
Will be updating individual posts over the coming months
"Complexity, is just a lot of Simplicity"
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#2
Changes since introduction of 1.9
  • Notch apples are now uncraftable (can only be found in chests)
  • Mending has made diamond gear a guaranteed quality (a buyer previously had no idea how many repairs they could expect to get)
  • Frost walker enchant added (can't be combined with depthstrider, not acquired with enchantment table)
Enchant table changes
  • Feather Falling is now a rare enchant
  • Depth Strider is now a common enchant
  • Smite is much rarer on a sword, Sharpness much more common.
  • Aqua affinity now near impossible to get as level 1 book enchant
"Complexity, is just a lot of Simplicity"
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#3
What is Trade?

The whole point of a trade is that it benefits both the buyer and the seller in a material way. A person buys items they need with items they have spare.

This is not to be confused with gifts. Sometimes older players will help a newer player out with resources simply because they are nice people. They might ask for a token amount of payment but not an amount that would make it commercially viable.

Reasons Why People Trade

Players produce unneeded resources which have value to others
For example if you're mining for diamonds, you end up with a lot of stone/granite/diorite etc which can be sold to builders

Players have base facilities which make it easier for them to get some resources
For example a player with a blaze farm might want to trade with a player who has witch farm

Some players have xray
Players with xray can get ores much quicker than players without, so can purchase what they need from players without xray. People without xray should find they can acquire diamonds from trading much quicker than they can from mining.

Some players have multiple accounts
For example I can use one account whilst having another get xp AFK, meaning I can produce God Armour with less effort than others

Some players have knowledge which they keep secret
For example a player may know a way to get apples really easily and will trade with someone who has a gold farm but doesn't have that knowledge.

Some players stockpiled goods when they were easy to get
Classic examples of this are slime and gold, which used to be much easier to collect due better spawn rates when there were less players

Some players are traders!
A trader buys when someone wants to sell, and buys when someone wants to sell. For example someone was selling ink sacs for 1 dia each... i bought a stack and sold half of them for 2 dia each. Rest are stock and maybe i'll sell them, maybe I wont. That's my risk as a trader ;-)
"Complexity, is just a lot of Simplicity"
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#4
What People Trade

The most demanded things on the server are God Armour and Weapons.
God fortune picks are also in high demand, as are Elytra, Mending books and Slime

Treasure items
  • Notch Apples
  • Elytra
  • Bottle o enchants
  • Mending books
  • Frost Walker II books
  • Nametags
Manufactured Items
  • God Helmet
  • God Chestplate
  • God Leggings
  • God Boots
  • God Sword
  • God Bow
  • God Axe
  • God Pick
  • God Rod
  • God Elytra
  • Golden Apples
  • Golden Carrots
  • Beacons
  • Potions
Factory Supplies
  • Anvils
  • Hoppers
  • Lapiz
  • Apples
  • Diamonds
  • emeralds
  • non-mending god items
  • Enchanted books
  • non-enchanted books
Luxury building blocks
  • Quartz
  • Glowstone
  • Sea Lanterns
Potion Supplies
  • Blaze Rods
  • Fermented Spider Eye
  • Ghast Tears
  • Dragons Breath
  • Magma Cream
  • netherwart
  • soul sand
  • Gunpowder
Explosive
  • Wither Heads
  • TNT
  • End Crystals
  • Beds
Other Items
  • Player Heads
  • Historical Items
  • Tipped Arrows
  • Nether Star
  • Slime
  • Ink Sacks
  • Music Discs (not "Cat" or "13")
Merchandise (sold at events)
  • Banners
  • T-shirts
  • Food
  • Fireworks
  • Shields
Services
  • Construction (near spawn)
  • Construction Supplies Delivered
  • Maintenance
  • Currency Exchange
  • Security
  • "Protection"
  • Bounty Hunter
  • Terraforming
  • Betting/Gambling
  • Item Renaming/Repair
"Complexity, is just a lot of Simplicity"
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#5
How to trade
  1. Negotiate with another player
  2. both players type /spawn
  3. buyer pays first (places currency in a chest)
  4. Both players go back to base, either by suicide or End Route
Risks
So far, i have not heard of a regular player ripping off a buyer by taking payment and not giving goods in return.
The main risk is actually a third party coming in and killing you.

Tips
  • When you're ready to /spawn, don't say this in public chat, rather use private message.
  • If spawn is unsafe, you can go into the nether and then /spawn.
  • There is a new End portal directly under overworld spawn down a ladder which allows you to bypass the nether
  • Be wary of bed-bomb suicide attacks if trading in End or Nether
"Complexity, is just a lot of Simplicity"
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#6
Currency

In real life, currency makes trade massively more efficient. 
In minecraft, barter is actually more efficient.

If you can, it's better to trade unwanted resources for wanted resources in 1 trade (ideally a chest for a chest).
If you can't, you have no choice but to use a medium of exchange and trade with an extra person.

There are 3 widely accepted currencies on the server:

Emerald Blocks
The most valuable currency, emeralds are used for villager trading and cannot be mined efficiently. They also take up less space in a player's enderchest which increases their value.

Diamond Blocks
Effectively the standard currency, this is used for most transactions on the server. Diamonds are the benchmark of which all other commodities are priced in. They are useful for every player.

Iron Blocks
Iron is demanded mostly by the richer players, who use it for hoppers and anvils. Fortune III does not increase iron drops and it has to be smelted first, which makes this a valuable commodity in block form. Although it can be farmed, it takes a lot of effort and is probably not worthwhile.

As a rule of thumb: 1 emerald = 4 diamonds = 16 iron.
Currency is normally traded in blocks, and often in stacks of blocks.
"Complexity, is just a lot of Simplicity"
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#7
Economics of Mining

I did a 1 hour mining session to see how many resources I got

I focused on diamonds, and mined any iron and lapiz that was on the way. I chucked any gold/redstone/gravel/flint i got.

Method
I used Xray hack and Fastbreak
Effic V, fortune III, Unbreak III, Diamond Pick
Started at surface level (y64)
Did not take into account the time taken travelling to the mining location

Diamonds Mined: 939 (104 blocks + 3)
which is roughly 15 dia per minute
or 1 diamond every 4 seconds

Also got
  • 7 stacks of iron (448)
  • 10 stacks of lapiz (640)
  • 7 stacks of furnaces
  • 5 stacks of granite/diorite/andesite

At the end of the mining session, the pick was dead and in need of a repair
"Complexity, is just a lot of Simplicity"
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#8
Economics of Grinding XP

I have a decent sized XP farm. It is a Gold farm built on top of a double zombie/skeleton dungeon.

Gold farm has 21 max size portals (23x23)
that's 173.5 stacks of obsidian

In 1 hour of grinding with looting III sword I get enough nuggets and ingots to make 8 blocks of gold

As for XP... the higher the level you are, the longer it takes to get enough xp for the next level.
For enchanting gear, you want to be level 30+

It took 5 minutes to earn the first 15 levels
Then 15 minutes to get from level 15 to level 30

In 30 minutes of grinding i got from level 30 to level 43 (13 levels)
and then another 30 minutes got me from level 43 to level 51 (8 levels)

Technically, you could say that in the time it takes to get from level 30 to 43 you could mine 50 diamond blocks, but it's not like that at all. Players often grind afk, or grind whilst chatting or doing something else. Also a player with a second account can grind whilst building.
"Complexity, is just a lot of Simplicity"
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#9
(06-04-2016, 05:21 AM)ChadDX Wrote: Economics of Grinding XP

I have a decent sized XP farm. It is a Gold farm built on top of a double zombie/skeleton dungeon.

Gold farm has 21 max size portals (23x23)
that's 173.5 stacks of obsidian

In 1 hour of grinding I get enough nuggets and ingots to make 8 blocks of gold

As for XP... the higher the level you are, the longer it takes to get enough xp for the next level.
For enchanting gear, you want to be level 30+

It took 5 minutes to earn the first 15 levels
Then 15 minutes to get from level 15 to level 30

In 30 minutes of grinding i got from level 30 to level 43 (13 levels)
and then another 30 minutes got me from level 43 to level 51 (8 levels)

Technically, you could say that in the time it takes to get from level 30 to 43 you could mine 50 diamond blocks, but it's not like that at all. Players often grind afk, or grind whilst chatting or doing something else. Also a player with a second account can grind whilst building.
Damn, Chad this was very helpful. I mean it.
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#10
This really helps.
Hawt Doggo
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