How To Make The Inflation Die Down Faster

So there's lots of different rumors going around. Some people say a dupe exploit was discovered, some say some uber rich people bought basically all the cheap mythics on the market. No matter what the cause is, Mythics like Lament and other 1-2 stx ones are now going for upwards of 30stx on the market. While the rises of new meta mythics like Monster and Ignis can be justified, the rise of ones like Lament must have been artificially created.
The problem with this is that while it may be possible to just wait it out, we don't know if it'll take a day, a week, a month, or if it'll ever go away. As I would like to be able to actually make financial transactions, I've listed some ideas here.
I've been thinking about a possible solution to this for ages, even going as far as to research multiple IRL inflation solving methods. Here's a list of some of them and their viability.
1. Contractionary monetary policy
The first method of solving inflation used IRL is to increase interest rates in banks, causing people to borrow less and save more. However, there is no interest in Wynncraft, so this doesn't work.
2. Decrease bank funds to discourage loaning
Again, no private banks, doesn't work
3. Supply side policies
This tactic involves hiring more workers to make more supply in markets, thus giving more supply to counter the demand. This could work, but it would involve making Mythics easier to find, something that hasn't been done before
4. Just wait it out
A lot of you might be thinking to "Just wait it out, it's not a problem and it'll go away". The problem is inflation, even in a block game, very rarely ever goes away. Take HSB, for example. When the game first launched 500k was a lot of money. Now, most rich people in HSB have over 100m in coins. However, HSB is an economy based game where inflation is expected, while Wynn is more combat focused. This would mean that returning and low level players will be unable to purchase LQ gear and other such things to start making money, and the gap between the rich and poor will increase (NEVER a good sign)
4. Demand shocks
This is the opposite of a supply shock, similar to a supply side policy where a flood of supply is introduced into the market. Here however, the government shocks the market with demand using federal funds to lower the market by encouraging competition. This could also work, but it would mean direct involvement with the market
5. Manage consumer expectations
Another commonly used tool by the US government is to manage consumer expectations. When consumers expect inflation, they create a self fulfilling prophecy by buying more now, thus increasing inflation even more. This might be the most achievable solution, as it would be easy to say "Players listing large prices on mythics will be warned and possibly banned for a week or two". However, this might seem harsh and be difficult to enforce constantly.
What do you guys think? I'm probably overthinking this because it'll go away soon, but I'd like to be able to actually buy and sell stuff as soon as I can.

 

just remove the economy, make everyone ironman btw

 

I don’t think the case of lament is gonna last. If you just wait it out for a week or two then they’ll probably stabilize.

 

If this is a consistent rise across most mythics, it's probably duping. If it's "artificially" created, someone is about to lose a lot of money.

 

I'm pretty sure you're severely overthinking it. It's just some people putting up mythics in hope a duper buys them (probably). ALso the TM is down again lol.

 

I definitely am. And I would be more surprised if it was up at this point

 

The main cause of inflation is simply there are too much money. The best way to reduce inflation IRL is controlling the money flow of the economy. An emerald can be used for multiple transaction, but it can also be used for only one. The goal is to remove it as soon as possible. There are 3 options:
1. Temporarily reduce the emerald drops from mobs, and blacksmiths. This is just removing the emerald that is being printed into the economy.
2. Tax the market buyers, increasing the emeralds that are deleted from the community.
3. Rollback the market (Unlikely and probably can't be implemented)

 

This happens mostly after new updates because a ton of players get on, do quests, kill mobs and participate in trading. So they get a lot of new emeralds that go to traders which always participate in the market whether there's an update or not.
That way the regular market get a lot of emeralds at once and the prices go up.

 

if that has to happen, people will use the market less and less, I already buy as few as possible from the market because of those taxes anyway, but the hassle of finding the seller is better than buying and paying more than 20% tax (ofc this exluces stuff like t1 oak)

 

The reason i like capitalism so much is that the market sets the damn precedents. This happened a while ago with Az. Someone bought all the Az's and priced them all at 5 stacks in an attempt to do exactly the same thing that's being done now. The result? No one bought any Az the entire time, and eventually the prices returned to normal. Now obviously this is an imperfect process, and it takes a while to happen, and perhaps there should be safeguards to prevent it. All I'm saying is that there is already a somewhat imperfect defense mechanism in place in the form of essentially capitalism, and this problem will naturally and eventually sort itself out without the necessary intervention of the staff, and I don't think you need to worry. Also the TM itself is down, which leads me to believe that what happened with the market most likely is a result of duping, or something that happened against the rules.

 

There is one suggestion, but then everyone would kill me and the staff.
1) Remove all found (ided and unided) mythics
2) Remove 1/10 of everyone's emeralds

And yes, this would affect me as well. I am not that much "completely broke" person

 

> have 0 LE
> ¯\_(ツ)_/¯

 

Players: “ight imma head out”

 

More money out

 

LQ would like to know your location

 

All that has to happen is people need to not buy the superinflated mythics and eventually these people will realize they won’t sell. Also maybe don’t put your mythics up in the trade market because then the super rich will buy them and overprice more of them. If you have mythics only make listings on the discord and the trade market forum.

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Lootrunners like sebiee who have a gargantuan net worth and probably had like 20 mythics in his bank at all times (I mean have you seen his yt?) would most likely quit if 20 stacks of emeralds and all of their mythics disappeared.

it would also take a while, there’s no /removemythics or whatever the plug-in equivalent would be. They would have to manually remove those emeralds and mythics from players inventories. There would probably be ways that people try to hide them too like in the trade market or transferring their mythics over to an account that has already been ransacked

 

It is very easy to make a command that removes mythic en masse. Just search the first line of the item name, if it's purple remove it.

 

I didn't say it would be nice to people. It is a possible solution, although not for the community

1) Take server down for few hours and problem with people is solved
2) Quite sure they could automate it easily. It is data and data can be found and changed.

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Emeralds might be a bit trickier though

 

I don’t think the people in this thread realize that the economy has been deflating since LQ got released. People naturally finding mythics will stabilize (or drag down) the economy, and it should do it pretty quick, unless less mythics are being found which may be the case.

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The inflation that’s getting described may have something to do with more LE being introduced, but it’s mostly artificial inflation caused by people overpricing their mythics. If buyers just wait then things will go back to normal.

 

just start using different forms of currency smh