Topic: Crypto Kingdom - 1991 Retro Virtual World(City) - page 167. (Read 632696 times)

I assume this is total value per bond unity in CKG?

Lord binaryFate bids 5@50.

Saddam bids 5 @ 45

Notice on the procedure concerning the forced sale of gold by the characters who have a negative monereto balance in Aug 9th

It is already disallowed to go into debt or increase an existing debt balance. In 2015-8-9, existing character monereto account debt is cleared by forced realization of assets.

There are approximately 4,000 million m debts, which will require the sale of about 6,000 CKG. At a non-disclosed time in that day, all debts will be cleared at the same gold price. Once this has happened, it will be posted in the thread.

Everyone is exhorted to pay back their debt in advance to avoid market disruption resulting from a large sale.


Town starts the series of Long Bonds, to create the interest rate curve by having all different maturities bonds running soon

The Hypothecary Bank has already in the past emitted 1-realyear bonds. This practice was discontinued when the game was paused, and as a result we currently don't know what is the interest rate in the game world! Knowing it is paramount for all economic planning, for which reason the Long Bond will be resurrected. It is now a Town obligation, and will be paid upon maturity if the game exists.

20 units of Long Bond with Maturity in 2016-8-1, paying back 100 million each, emission rate determined by auction, same for all buyers:

Auction closes in 48 hours

Current situation:

5 @ 65  King
5 @ 60  King
5 @ 50  King
5 @ 40  King
-------------------
20 units will be sold at 40,000,000 each, paying back 100,000,000 each (150% APR; 0.25% daily)

Since the valuation history of the game is now mapped in irrefutable accuracy and expressed in XMR, BTC, USD and EUR (Char DB / gold_history tab), it became interesting to see when the game has been worth the least?

The answer is 1520, the fateful year of Trust in Economy, the last attempt to keep Crypto Kingdom alive. If you want to go back in history to the year, here is a link. (In Earth time, it was December 9th, 2014, a few days after the Online Version 1 deadline.)

In EUR terms, the CKG was priced at 0.026. The current price of 0.381 (+1,365%) indicates that Trusting in Economy was the right decision!

Congratulations to the winners!

So is this whole "Rich guys arcade game" shebang still in a spreadsheet??? 

That somebody is ready to tie up the huge resources that are needed to back this kind of system, essentially guaranteeing to buy either all the XMR that ever exist, or all the CKG, without the possibility to spend the proceeds of either, requires quite much trust that both are worth something, because otherwise it would end in a massive loss when one becomes worthless.

I am happy to see that the markets have appreciated the system becoming operational:

- CKG/XMR has risen about 40%
- XMR/BTC has risen about 1.5%
- BTC/USD has lost ground -2.5%

Your thinking seems in some useful / important ways similar to that of the folks who had me create national / company currencies for them. Good.

For example you back your currencies.

They from the get-go said the problem with bitcoin was the miners do not stand prepared to buy back the bitcoins they sold.

They claimed that a currency ought to be backed, not just spewed out aka minted by irresponsible parties who have no intention of buying it back.

Their whole expectation of being able to make their currencies work was based on kind of regarding the coins as IOUs in a sense: each coin they had not yet bought back would represent some kind of obligation, if only in their own minds. They always apparently intended to be buyers of their own coins as a major part of how their coins would come to have value.

-MarkM-

The Villa Rotonda School of Economics (estd 1525 to commemorate the quasquicentennial jubilee of His Majesty's reign, to be the seat of the highest learning in Economics)

Research paper #28

Economics pertaining to monetary and pseudomonetary assets in the Kingdom

The promulgation of the agreement concerning the perpetual 24/7 ingame XMR/CKG exchange has opened up the avenues for some deeper thinking on the subjects at hand.

The relation between gold in the Coinshop's vault and the price of gold in the coinshop is expressed with an exponential function having the ascent of 2.5% per 1,000 CKG. Thus every 1,000 CKG bought from the Coinshop increases the price by 2.5%, and every 1,000 CKG sold to the Coinshop decreases it equally.

In terms of market maker supply/demand price inelasticity or wealth effect, defined as the ratio of "market cap increase"/"amount of new money invested", the Coinshop acting alone has a coefficient of 24.4 (or its inverse of 4.1%), which is constant over the whole price range. Regardless of market cap, 4.1% of it is deposited in the King's Coinshop monereto account. As the coinshop sells gold, the proceeds of the sale accumulate to the account. The buyback of gold depletes the account but the ratio to marketcap is always the same, because the sale also decreases the price and thus marketcap.

The King's Coinshop acts as a huge flywheel providing liquidity regardless of the price, and caps irrational exuberance. Very high wealth effect coefficients are typical in cryptocurrency blowoff tops where the marketcap can double with scarcely any volume and then go bust typically with higher but nevertheless small volume considering the magnitude of the move. The wealth effect here can never be higher than 24.4, providing much comfort to gamers, investors and speculators alike - the rise in price cannot happen unfounded, without reason, as it always requires actual new money invested in CKG. The market can never go to "no bid", which does happen to fiat world markets occasionally, eg. in 2008 despite all the central banks did, some assets could not be valued due to nobody willing to bid.

In practice, the other characters sell to offset the rising price from the net new demand. For example, from the time the Coinshop redefined its mission 2 days ago, until now, the client sales have been 24.5% of the buys. This corresponds to 18.4 wealth effect coefficient (multiplier). In the longer term such as all the history of CK, the coefficient has been observed to be near 10 - corresponding here to the result that of net demand over a longer period, about 40% would be satisfied from the Coinshop net selling and 60% would be other characters selling. This is very close to the gold ownership distribution with the King owning about 47% and others 53%. If the King transacts with his own Coinshop, it will happen on market terms, and the reasons for doing so may range from cash flow needs to speculation, and all such transactions are recorded in T_MON and T_GOLD as normal.

It may sound flimsy that "only" 4.1% of the market cap is deposited in the King's Coinshop to cushion the events that the players want to sell gold. Here it is good to remember that the King owns half of the gold, so in relation to the actual gold circulating among the characters, the figure is double. Also the balance of the King's Coinshop account, currently 29,800 million, is almost double the monero balances of all (non-King,non-Town,non-system) other characters combined (15,600 million). If the characters collectively decided to double their monereto balances solely by selling CKG, it could be achieved by selling 30,000 CKG and netting 15,600 million. The gold price would sink to 350,000 m in the process, which hardly even matters. Another way to put it into perspective is to compare with the XMR/BTC market in Poloniex, or BTC/USD market in Bitstamp. 6% of the circulation of XMR would amount to 500k XMR, and of BTC to BTC900k. Both are amounts that simply cannot be sold in their most liquid markets even to all the other participants in the orderbook. So in light of the numbers, the reality is that the backing for the CKG/XMR market is massive.

It is intriguing to explore the relation of XMR supply/demand vs. CKG in light of this new balancing vehicle. It is evident that the mechanism is "backing" CKG, as it is always possible to exchange it for XMR and it cannot go to zero. What is not evident at first, is that as long as CK is alive, the mechanism ensures that XMR can never go to zero either. Why? Because if gold has any value, and XMR is "backed" by CKG at a variable price via the mechanism above (we promise that XMR can always be converted to moneretos, which can always be used to buy gold, which has some value in USD if the game is alive), in the end all the XMR can end up in CK treasury account, the corresponding moneretos in the King's Coinshop account, and the King is still not out of gold! The point where 18.4 million XMR must have been used to buy gold, corresponds to -73,000 CKG in the coinshop - so the King must restock some from his personal stash - and to the gold price of 449 XMR/CKG. It is obviously unlikely that this would happen in the context that XMR had any usage or value out-of-game. But if it does not, this ensures that it has value.

The treasurer has affirmed that he has 100% of the total of circulating monereto balances covered by XMR in a cold wallet. Even as the situation in the previous paragraph is likely not becoming true, it is nevertheless good to understand that even a slight increased interest in the game, such as the reaching of 1 million USD marketcap, which is in the bottom range of noteworthy projects, according to the formulas mentioned above, must accompany a 45,000 XMR influx to the game, and this money will just permanently stay there, guaranteeing that the gold can be sold at will by the characters. The amount is more than 0.5% of the total XMR in existence and withholding it permanently from the market is likely to be observable in the charts. We exhort to consider the interrelations presented more deeply to achieve a practical understanding, which will also enable profitable speculation in the USD, BTC, XMR, CKG and land markets.

Until now we have not enabled withdrawals from the game account. The recent agreements in the Town Council include the paragraph affirming the decision that the monereto balances are the highest priority to be paid back to the players in the event of the game closing permanently. There have been talks that Poloniex could act as the XMR/CKG market out-of-game, enabling outside investors and also making it possible for the players to export value in the form of CKG out of the game. If no repatriation of value is possible, the prospects of speculation are greatly hindered because people think twice what is the point in acquiring an interesting asset if the gains cannot be cashed out. The Town Council is exhorted to consider enabling them, as also the treasurer raised no objections on the practicalities. This could happen without further delay, and when the V.4 is released and the Poloniex deal takes effect, continuing the practice would be reconsidered. In the longer term in future versions, the player account would include an onchain, offline wallet for larger balances and an offchain, centralized account for gameplay and instant no-fee transactions between players.

That heads rapidly off topic I suspect.

But to try to stay on topic, suppose Crypto Kingdom were to position itself, or be positioned, within the Galactic Milieu metagame framework:

Battle for Wesnoth would be used to create playable historical dramas, holo-docu-dramas as it were (except that here on the planet known as Earth we have no holobarracks yet), since currently Battle for Wesnoth is basically a computer-aided-learning type of tool, a tool for presenting media mediated by multiple-choice questions, but with the ability to insert game scenarios so some of the multiple choices can be things like "did you win the scenario" and suchlike choices. (It can also be thought of as a storyboarding tool, a tool authors can use to create interactive storyboards for potential moviemakers / holodrama makes to get the gist of the plot and characters and alternative plotlines and the decision points and such.)

For example the story of how Crypto Kingdom came to be could be documented as a Battle for Wesnoth campaign. For the entertaining game/battle scenarios that help draw readers through the educational spiels you could maybe make some fun little games where various Cryptonote coins recruit spammers, trolls and suchlike "units" to battle for the altcoin section, or whatever. The real purpose of the battles, since the player has to win them to continue through the campaign aka to continue through the educational material / story / documentary, is to punctuate the lecturing with recess breaks intended to be fun, or, in the case of hard-fought battles, to provide the student aka player with a hands-on "feel" for how hard a battle it was, how unlikely it was that the heroes managed to come through and create history-as-we-know-it.

As to how coins come into existence, how you obtain them and such, that naturally varies. Crypto Kingdom uses Monero and Crypto Kingdom Gold. Where do they come from? How are they obtained? The Galactic Milieu does not prescribe such things, rather one should get involved in the Crypto Kingdom itself, or investigate it, to learn such things. Thus, similarly, if you want to know about Martian BotCoin, go ask the Martians. Oh you don't know any Martians? Well what planets do you have characters on, do any of the civilisations on that planet have contact with Martians? If not maybe you could have your civilisation build SETI city-improvements, or send out exploratory starships? Or maybe there is someplace you could create a character that would have more chance of discovering such things, hmm, I wonder how a player gets to have a character who is a Martian?

Well how does a player get to have a character who is an inhabitant of or expatriate of Crypto Kingdom? Can a player become an inhabitant or expatriate of various other civilisations via that same method, or does that method only result in Crypto Kingdom characters? (Are there neighboring Kingdoms one could obtain a character in? Are there portals supporting creating characters in a wider selection of kingdoms / games / civilisations / etc? Has anyone built a Starport in Crypto Kingdom yet? Would building one be feasible to you using your existing Crypto Kingdom character(s) and resources? Etc...)

Really, part of the Alternate Reality Gaming background in which this all can be viewed kind of serves to help keep games for gamers, so that the principle shareholders, stakeholders and such controlling the physical platforms on which games are played, the servers that serve them and so on, can be the players themselves, not just a bunch of corporations and suits that don't even play the damn games!

So discovering how to get to play various parts of gaming is part of the whole gaming process, the process of being/becoming a gamer, of having characters in games, who can learn from other characters in games of other games those characters can migrate to or themselves create characters in and so on...

If you install a Crossfire RPG client, for example, you might find that CrossCiv.no-ip.org is not shown on their list of gameservers (not sure why that happens but it lately always seems to have happened), but nonetheless if you tell the client to connect to CrossCiv.no-ip.org the resulting rabbithole is said to be one of the rabbitholes into the whole Galactic Milieu metagame framework...

EDIT: Oh one more thing of course: is Crypto Kingdom free open source? One limitation that Galactic Milieu does kind of have is that it is kind of intended to be Free Open Source and constructed out of / embedded with Free Open Source components and subgames and such. If you are Free Open Source then cool, I wonder what galaxy you might be in, and on which planet of that galaxy? If you are on a planet at all, that is...

-MarkM-

Can you give a simple explanation of what these things are? I clicked the link and read the wiki a bit, and still had absolutely 0 understanding of what it is. I've played battle of wesnoth when I was 12, apparently its a part of this universe? How are the games interrelated? How are these currencies obtained? Used? etc.

They are bitcoin clones. That is, twenty one million coins each.

Oh except for bitNicKeLs (NKL), which have 20 times that many coins, which was intended to make them worth 1/20th of what the others were worth. At least initially at startup.

When first they came to me about making coins for them I simply hacked at the -testnet part of the bitcoin code, so that for each nation there was a bitcoin client whose "testnet" switch made it use that nation's blockchain instead of bitcoin's testnet blockchain, so that they could use bitcoins and their national/company coin with the same client. (This was way back in the beginning, even before namecoin maybe. Before merged mining came along too of course. It was what I learned of the code doing this stuff that led to Unthinkingbit hiring me to help him figure out how to create DeVCoin.)

The massive problem with Proof of Work blockchains though is they are insanely expensive to secure. If any enemy had discovered their handshake bytes (magic bytes) and port number to connect to, they could have been attacked by anyone with more computer power.

In the game of course we can simply stipulate that only the hypothetical "Ancients" (represented in off the shelf Freeciv software by the Antarcticans) and the Hackers (from whom the Martians claimed to have obtained blockchain technology) are likely to be able to out-compute the Martians, who quite likely could out-compute even a combined alliance of the Brits and Canucks. But of course since the national currency of the Hackers is bitcoin, of course the bitcoin miners could out-compute the miners of any of these game-currencies. Even if we can get them to be merged-mined, the bitcoin miners have more hashing power than the most-hashed merged mined coin (namecoin) and a heck of a lot more than a less-commonly-merged-mined coin such as I0Coin. So I do not think we can reasonably expect to be able to secure these national/company coins by proof of work mining. Plus, of course, they already mined all their coins long ago. (The Martians developed warp drive centuries ago, it has been more than 140 years since their blockchain started.) So no minting to pay miners.

Now that things like NXT are coming along though, maybe the nations and multigalactics will be able to create such a network of their own, purely for game-asset purposes, on which to run all these game-coins as assets...

-MarkM-

wow I just scrolled through the first column. That is insane!

That is rather fascinating. What are the money supplies for these game currencies?

CKG has only 1 million units so it could surpass 1 XMR (or even BTC for that matter) with a smaller market cap.

Check the 1st post for information.

Whats this all about

Game currencies do some weird ups and downs.

I never would have dreamed, back when the bitcoin and the martian botcoin were at parity at $5 each and united kingdom britcoin, canadian digital notes, united nations scrip and such were only $1, that they would ever surpass bitcoin. Yet they did, staggeringly so.

I wish the GNUplot plots Ubuntu makes worked (they worked fine back when Fedora was making them) so you could see easily by using the plot pages, but the raw data is in the tables:

http://galaxies.mygamesonline.org/digitalisassets.html

Take a look at Asset values expressed in bitcoins: http://galaxies.mygamesonline.org/inbtc.html

Scroll down to March of 2014. Totally batshit insane.

-MarkM-

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ok, thank you. its good to see the game come back to life, great job!!
cant wait for the playable version. if you need help testing you can write me a pm

Just PM me! I can handle the trade for you.

In the future, if I'm not around you can just ask for any admin here or on ##crypto-kingdom IRC