Home ยป How do you prevent inflation in a virtual economy?

How do you prevent inflation in a virtual economy?

Solutons:


Notice that only one person here before me has given the correct answer – “currency can’t inflate if there’s a limited amount of it.” Indeed, with infinite resource generation, currency will actually deflate, as the amount of resources goes up and the amount of currency stays fixed.

It’s an economy. You’re not the Fed. Stop minting currency, and stop listening to people that don’t understand the economy when asking about it. The underlying cause of inflation is an increasing money supply, which we only think of as normal because we live in the very first semi-stable fiat currency in history (and that won’t last – we’ll get out of it, or the dollar will collapse.)

What you actually want to do is mint a fixed, large count of currency, and play a balancing game between resource production and resource consumption (that is, modulate resource availability such that the total production is approximately what consumption was yesterday.) Easiest long-term stable way to do that is to keep a running tally of production versus consumption differential, and to use yesterday’s data as a target for a 95% repair towards zero (which will allow a damping effect on oscillation, which will occur naturally as the mining population periodically shifts.)

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