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Bitcoins as an independent currency.


mister_rice
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I think that it would stabilize the flea market prices if bitcoins are implemented as an independent currency that cannot not be converted to rubles by selling them to traders. The buying power of bitcoins could still be linked to real-world bitcoin value by making trader prices in bitcoin inversely proportional to bitcoin value, where the prices of trader items are fractions of bitcoin similar how bitcoin is used to buy/sell products or services in the real world.

The flea market would still be affected by fluctuations in bitcoin value, but demand would be less sensitive to it because there wouldn't be a direct correlation between bitcoin and ruble buying power. Ruble inflation would still take place as the perceived value of trader items decrease with an increase in bitcoin value, but not because bitcoin value translates directly to the number of rubles in circulation on the flea market as it does now.

It would also change the meta of gear that PMC's run, as they wouldn't be able to run meta gearsets and lose money in raid without depleting their ruble, euro, and dollar funds, which they would still need to purchase certain trader items and services not purchasable with bitcoins. I think in this system most items from traders should have bitcoin pricing options, but things like insurance, armor and weapon repair,  and maybe even ammo shouldn't.

 I'm sure I'm not the first to think of this idea but I'd love to hear feedback.

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18 hours ago, mister_rice said:

 I'm sure I'm not the first to think of this idea but I'd love to hear feedback.

The main problem with BC is that their price is connected to real world, while efforts required to gain a BC = constant. In real like BC emission is not constant, it requires more and more resources (time + energy costs) to earn each next regardless who mined all previous. In real life if you do not have access to cheap electricity, production costs of 1 BC could be more that it is worth on the market. In real life BC is not something that someone can be emission endlessly at a constant pace and cost, and it does not vanish endlessly when you buy something with it - the EFT ignores both of that aspects.

For example: in March 2020 avg. cost of 1 BC was ~9000USD, while average cost to mine 1 BC was ~7600USD, so actual mining profit was just about 18.5% in real life. 

in EFT production costs are only influenced by costs of fuel only. Also fuel consumption is the same whether you have no BC farm, or you run BC farm with 25 G-cards. That is what makes BC in EFT broken. If anything to be done with BC at all, it should start with fuel consumption rate per G-card + progressively increased farm time.

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