Economy suggestions/info thread

[Xen0lithLegionier]

Hello all,
The economy of the server needs to be set up before official launch, so here are my suggestions for how to run it.

Overview:
Basically, with my economy detailed below, players will be able to trade amongst themselves for money and items, as well as use shops to create fairly stable prices for items. The fact that common makeshift currency (diamonds, iron etc.) has a set price will keep the economy from changing much In the way of prices, but still allow players to haggle over prices. Most trading will be done within the set trading area, (which could be expanded as needed) however it would still be possible to trade outside of this area.

First of all, what shall the currency be called? I suggest simply calling it "coins" or "credits"

Chestshop:
How do you guys feel about having the chestshop or another similar plugin? Chest shop would allow people to place buy/sell chests in their shops, where any other player can simply walk in and purchase/sell an item for in game money. I believe that this plugin is extremely useful and will promote the building of shops simply because people don’t have to be there to run them.

Shopping district:
We should have a road or area set up with building plots (which can be purchased) for people to build shops in. Admins could simply take the set fee for a plot from the player’s balance and then give them world guard rights to the plot. This would make a central area for all the shops, keeping them from being spread out across the world (all messy) and easily accessible via a warp. This is also a good way to draw newcomers toward becoming a real part of the server; it gives people a sense of duty, making them want to get back on.

The Bank:
Construction of the bank has already been started; however its uses can still be debated. In my opinion, banks should exchange other types of makeshift currency such as diamonds, iron, etc. for in game money and vice versa. This can be done without limits by using the chestshop plugin’s “admin shop” feature. (Allows for infinite items/money to be transferred)

Item Prices:
Most items should be able to be bargained on, no real set price; however some items like diamonds and other existing currencies will have set prices. (Again, these are only my suggestions; feel free to argue about them if you want)
Diamonds: 1500 each
Gold ingot: 600 each
Gold ore: 550 each
Iron ingot: 500 each
Iron ore: 450 each

I would like to thank you for reading this long ass post, please reply with any suggestions or comments below. Also, if no objections are made, I would like to be in charge of running the economy and keeping it running smoothly.

[Steven_BAdmin]

/balance shows the same amount as /money, except it doesn't have commas and has a $ instead of saying dollars. Either command accesses the same data value, so all should be fine.