I LOVE THE ECONOMY!!!!!

@GDColon

10 ай бұрын

(jokes aside this was an amazing video!! super informative and well-written. i love data like this and it's interesting learning who and what is actually contributing to the prices of everything in the game)

@hypenheimer

10 ай бұрын

I love gd cologne

@ThePharaqh

10 ай бұрын

I also love gd cologne

@TheMisterDarknight

10 ай бұрын

Ah shit here we go with gd references

@user-cd4bx6uq1y

10 ай бұрын

5th reply

Imagine being a normal Player just tryna play some normal Skyblock on your favorite Server and you end up Having to Understand how Economics and Math work lmfao

@Ayan_7676

10 ай бұрын

lmao

@crabulonbestgirl9130

10 ай бұрын

The rift literally makes you do taxes lmao

@Nayrlol6855

10 ай бұрын

I once said SaD to answer a math question and everyone thought i was sad, but NO SaD means Supply and Demand

@Nayrlol6855

10 ай бұрын

​@@crabulonbestgirl9130why i dont play rift:

@snakeaxelunarclientowner

10 ай бұрын

@@crabulonbestgirl9130that quest was pain, I was in a call with my asian friend who did ap calculus and app physics in 9th grade and he couldn't even figure out what it was saying 😂

Why do I bother paying for college economics classes when I learned more from this video than my entire college class.

@DriftSythe

10 ай бұрын

I'm using this to study for my ap macro test

@NoRhythm-im2oj

10 ай бұрын

im to european to understand that u have to pay for school

@zkvie

10 ай бұрын

in europe you pay for college too 💀

@hirengamming_642

10 ай бұрын

ON GOD THIS VID CONTAINS MORE INFO THAN MY 1ST SEMESTER

@Asha19200

10 ай бұрын

RIP my dad's money only learn economics from a Minecraft video

I did 50% my assessessment pieces for my introductory microeconomics university course by discussing hypixel skyblock and relating it to the real economy, so im glad to see someone else nerding around with this

@480darkshadow

3 ай бұрын

Post it el por❤favor

As an ironman player, I really wouldn't mind some deflation (please, I don't want to keep on paying 7m per booster cookie)

@chefbenito1

10 ай бұрын

At least for me it's only like 1m for cookie bc I can sell the bits but damn

@pattedejais4514

10 ай бұрын

And pls ender artifact

@miraraa629

10 ай бұрын

In general I'm kind of sick of this. :( Set up a fixed price for cookies , make Ironman players able to buy Skins from AH to tackle Deflation and make Ironman dark auction lobbies :c

@SudetenlandMan

10 ай бұрын

​@@chefbenito1I get 1m profit per cookie

@ApecSW

10 ай бұрын

@@miraraa629Making ironman buy skins would increase inflation because those coins would flow into the normal economy

Reason deflation is bad: “I’ll sit on my billions until the price of a hype drops even lower! I’ll grind items myself for now” In perpetuity. Always better to save than spend. Hyperinflation -> “Ill never be able to save enough to buy a hype, ill have to drop it myself” An economy that ends up behaving like an Ironman player isn’t exactly functional

@skycaptain95

10 ай бұрын

Ok and

@FunkyJeff22

4 ай бұрын

Except in real world perpetually deflating markets, people eventually go out and buy whatever they need. If they don't, then they didn't need that thing in the first place, and the economy doesn't waste resources (and pollution) making that thing.

@baranbeytemur5451

3 ай бұрын

@@FunkyJeff22 you should research the economic crisis that happened in japan they went from 2. largest economy to barely top 5 not every "need" is urgent especially big purchases such as cars and houses. also it makes taking and paying loans much harder its way worse than inflation

@Omega-mr1jg

3 ай бұрын

​@@FunkyJeff22causing layoffs as companies lose profit and leading to unemployment and less purchases then before, and repeat this for a while....

Item sinks also help control inflation. The garden visitors cause the demand for certain crops to go up, which means the bazaar price goes up, oftentimes above the npc price. more people sell to the bazaar than to the npcs, and less coins get generated

Your life is a skyblock. Go PB it.

@HellCastleYT

10 ай бұрын

banning you from the channel

@SpacyPVP

10 ай бұрын

@@HellCastleYT lol

@cd-ramos

10 ай бұрын

In life you have skyblocks. Don't let them stop you, cause we aint stoppin.

@promisteryolo1786

10 ай бұрын

What is a pb

@VD6608

10 ай бұрын

What does this mean PB

During the inflation example with the hyperions, a real example that actualy happened was with juju shortbows! At first everyone could get them and everyone wanted them so the supply and demand was at an equilibrium, but when the admins changed the requirement to eman 5 everyone sold their juju shortbows so the price went from 17-20m coins to about 8million. Nowadays people are getting juju shortbows with ease but the demand is the same so the price went up to about 33m (might be a bit confusing the way I said it but) Amazing video guys!

@AverageRNGHater

10 ай бұрын

Bro really used the word equilibrium 💀

@zip53a

10 ай бұрын

@@AverageRNGHater yes

@zip53a

10 ай бұрын

@@AverageRNGHater yes

@ffgnikhilgaming9621

7 ай бұрын

​@@AverageRNGHateryes

@ffgnikhilgaming9621

7 ай бұрын

​@@AverageRNGHateryes

You know it's a great decade when hellcastle uploads

its insane that there are hundreds of millions of dollars circulating in a game, in a server, in a block game.

@apotato4873

4 ай бұрын

Not really. While booster cookies do allow for converting from real money to skyblock money, it doesn't go the other way around. You can't just go to a real bank and trade skyblock coins for real money. What the coins are worth in real money is whatever people are okay with paying for them (i.e supply and demand along with IRL trading lmao). I think an actual skyblock -> real world coin conversion is better based on what the IRL trading rates are, which will be less than booster cookie rates.

@bowlofboyo

4 ай бұрын

@@apotato4873 it is still possible to sell numbers in a pixel game for around $50 dollars an hour

@sonicmastersword8080

Ай бұрын

@@apotato4873Not entirely true. You can make sales for real world cash with more valuable items.

great video, insane how you can make such a unique and insightful video about one of the most talked about subjects in skyblock

I love how half of all skyblock players probably don’t know half of the stuff that Tylerrrr has been talking about

i kinda want a full roll back of skyblock but at the same time all grinding would have sadly gone to waste

@ChrisPtoes27

10 ай бұрын

Yea idk about losing 3k hours and billions from a rollback

@FlopNonStop

10 ай бұрын

They should make the foraging update skyblock 2 where they make a new game mode where it’s a new server that’s reset and skyblock just stops updating

@humanexistingonearth

10 ай бұрын

It wouldn’t matter because people can grind out a billion coins within probably just a week anyway

@Max-uo4ud

10 ай бұрын

@@FlopNonStop That's a fucking horrible idea

@FlopNonStop

10 ай бұрын

@@Max-uo4ud April fools update but permanent

Never would I have thought I would be learning economics from a block game

What if farming was more integrated into combat progression? Like hot potato books, but for all crops and actually requiring a ton of crops to make and then be consumed. Wouldn't that help inflation? Since the value of the crops would rise significantly above npc sell value, players wouldn't be generating coins from crops but exchanging them with eachother instead.

@minhperry

10 ай бұрын

Kinda, it would only stop inflation for a while and not reduce it (since it's just player to player trading)

@HellCastleYT

10 ай бұрын

garden visitors are the main resource sink for farmed resources but theyre always requesting less crops than an individual can farm

The thing about farming is it isn't even the best way to make money per hour. Mining still makes considerably more money than farming, but the fact the barrier to entry for farming is so low along with the fact its much easier to AFK (and macro tee hee) means everything has inflated, yet if you really wanted to maximize the money you made per hour, you're still better off mining, which means now everything costs more and I'm still making the same amount of money WWTFFFFFFFFF!!!!!!!!!

@lukedeutschbauer6724

10 ай бұрын

average low skill ironman player

@Andonerf

10 ай бұрын

@@lukedeutschbauer6724 its true im only skyblock level 82 and a half

@lukedeutschbauer6724

10 ай бұрын

@@Andonerf mining is 100m a hour htf do you make farming rates

@Andonerf

10 ай бұрын

@@lukedeutschbauer6724 I don't understand what you just said.

@krishm7812

9 ай бұрын

@@lukedeutschbauer6724 farming makes 15m an hour with a 1.5b setup, its not worth it compared to mining, just that mining requires 50-100 hours to get into

What a great video teaching macro economics, I took macro courses last semester and I'm glad I could understand these concepts perfectly well in this video.

great video, really informative, well edited, and also a good reminder that the admins have a lot more to do than you think

Thank you for testing me on what I learned for my GCSEs.

@HellCastleYT

10 ай бұрын

hahaha making this tested me on what i learnt in my GCSE

This was a really great video and was really insightful about a lot of things I've always kind of wanted to know but didn't really have the effort to figure out myself. Also, when people sell stuff to each other on the BZ and AH, they get taxed, so that removes even more coins from the game.

if the admins just make you pay taxes then problem solved

Wow what a video. Never saw something like this. Due to the fact I have economics at school I can even tell that the economic fundamentals are explained super well

Bro casually explained the basics of economy better then the average teacher, and did it in a minecraft video

Great video! I've noticed that, while everything is a lot more expensive than when it first came out, I feel that it's definitely declined a bit since its peak.

Very interesting, actually never combined the data of multiple items for a long timespan before

Fascinating and well produced video 👍

Really interesting video, I hope to see more like this and specifically about the economy of skyblock

@Tomatillo12

Ай бұрын

No taxation without representation though 😡😡😡

Terrible idea: All coins that are lost to ah listing fees, deaths, npc purchases, etc. are put into this huge pot of money which is used by the npcs to purchase your item. If there is no money left in the pot then admins raise prices temporarily to stabilise the pot of money and then prices go back to normal.

I play Ironman, have been for almost 3 years. Inflation has been insane if skyblocks lifetime. Some items, especially dark auction items, have massively inflated. Flower minions are 30m instead of 8m, ender artifact tripled to 300m in less that a year, and midas staffs are 250m or something. Good explanation though!

this video unironically has some pretty good educational value as an introduction to economics. Love it.

best content around, always love these videos! keep up the great work :)

How to fix the economy: make an event where the highest bidder wins a one of a kind item but the players lose the amount they bid regardless of if they won. Skyblock players will still try and get this item likely taking billions out of the economy

Very good video ! Highly interesting thanks

Thank you HellCastle & Tylerrrr very great video!

2:20 dude I thought I was watching a Hypixel Skyblock video, now I’m in a whole History lesson. 🗿

something interesting about the bazaar is that; when you put an item for less than the buy price, it gets *magically* filled up by the same person the moment it's put up

I was waiting for something like this, thank you hellcastle.

ngl i would enjoy like regular economics if one of these guys explained it in a video

As an economics student I was surprised by how well you actually taught the subject.

Dude you single-handedly taught me more in this video than my Econ teacher did in a year 😆

Amazing video! I always look forward to every one of your videos, and I was not disappointed. It's even bookmarked.

I love you for mentioning Economics. Now i feel like studying it makes much more sense - if it's applicable even in Minecraft... :)

Tyler, Furfsky Reborn has a bug (sorta). when I use it dragon armor helmets, and runes look like steve heads. I'm pretty sure the reason why is because of the version 1.8.9. I think this because when I use other texture packs or no pack at all the issue is still present so my suggestion is to release a version of it for later versions that don't have this bug

My watching this when cookies are 11m is a perfect example of inflation

i remember buying like 2 stock of stonks for the bazaar for like 20k coins each, i probably still have em in my enderchest but the last time i played was around 2 years ago

It is cool seeing you i was in a depresion state and you helped me get threw but i had a good state thanks

i don’t even play skyboock but i will watch anything you make 😂 keep up the good work bro

YIPPIEEE I LOVE HELLCASTLE TYLER

@IamRelayy

10 ай бұрын

we all do lol

Correction. Commodity money is not a thing. You were on the right track that people listed payments in terms of items that were universally applicable. However it's not that everyone just had buckets of salt to use as money, payments were just written in those value terms. The same way we write values in terms of dollars, like you probably wouldn't trade something worth 5 dollars for something worth 1 dollar. 1 cow or whatever was equivalent to however much salt

The best video to explain economy

I love the styles of these videos they’re so good

Seeing my forum post in video is something 🙃

GD colon is the new guy without a mustache Edit: these kinds of videos were considered very cool in 2017. Glad they're making a comeback. So, when will we compare Zimbabwe and Runescape? Edit 2: them saying that the *price* inflation is caused by hysteria is what a central bank would do

This is probably the best skyblock video I've seen this year

I enjoyed this money since I like finance and this was an interesting and unique topic about skyblock.

amazing video!!

Now I want a video about the economics using skyblock as a basis

Very interesting video!

Also of note that a similar "flattening" if you will of the graph is applicable in the Y axis for items that NPCs sell

Thanks for the economics lesson!

Thanks for explaining economics it will genuinely usefull for my economics classes bc i had a hard time understanding

Even though i quit sb so long ago i still love watching your vids

@IamRelayy

10 ай бұрын

do you still have your stuff?

@YeepTheSheep

10 ай бұрын

@@IamRelayy ye

I love how i dropped economics in school after one year and still chose to watch this video

Good videos i used to play this when i was you get before they had the dungeons

woooahhhhh. i played this game way before dwarven mines came out and its insane that the economy started to pick up after that update. i guess i really overestimated the economy back then, compared to now.

My favorite plug quote was "essentially, (for small items)"

Nice video Timedeo. Another banger as usual

Amazing Video!!!

The economics revision I needed.

Probably a whole high school economics class in one video about hypixel skyblock.

glad you covered this mess. pretty interesting how it got this way.

With the introduction of the raffle event I hope prices go down a bit so that normal players have a chance

The stock of stonks is like an etf in real life, it represents the health of a certain market, or in this case, the entire market (like S&P 500 world)

This actually covered like half of my Economics exam (in college btw lmao)

Flipping in Hypixel Skyblock sometimes takes more math than my finance classes...

160 views rn, i luv hellcastle and tylerrr

W video. Keep up the good work! :D

This was really good

very cool vid!

I'm saving this video for when I introduce my middle school students to economics. This is genuinely incredible.

3:25 now I wanna see Skyblock with a command economy

dawg this was deadass my 1st unit for my high school Econ class 😭

7:48 655 was released with Crystal Hollows, not dwarven mines

I just thought of something genius. Since there are only around 3000 stonks around, maybe some rich dude could buy them all up and sell them for more than the average hyperion.

HellCastle & Tylerrrr just explained how the entire worlds economy works in a minecraft tutorial

Tyler and Hellcastle I'm your squelchiest fan

Holy, when I saw the first 30 seconds, I saw money symbols. I bought a whole slew of these stocks of stonks before I quit skyblock (every last coin was spent). It seems like now that I may have a few billion coins to come to.

I took 3 financial classes and none of them covered supply and demand lol. Good thing I knew it beforehand.

Thank you for economy lessons I will watch more economy lessons if you do make

Just a question, so if im right there's taxes on bazar and auctions, do they also work as coin sinks?

thank you hellcastle for the free lesson

Okay pause, my mom is a finance major and I’ve taken quite a few personal finance classes. This is LITERALLY just a college level Econ course, no hate whatsoever it’s a huge commitment, you better explained this than some of my professors, and being able to use SB as an example helps visualize it really well

Stock of Stonk is around 25m-30m now💀

bro explained better than my economy class's proffesor

I can drop out of my economics class now that I have hellcastle to teach me

About the coin sink part- isn't bazaar taxes also a way coins are taken out of the economy? Anyways great video.

Isn't it crazy that recently, 20 stock of stonks would have been 400 mil?

imagine being the country that is poorer than a BLOCK GAME'S SERVER'S GAMEMODE'S total value

Buying stock of stonks is really usefull to avoid inflation. So instead of having milions of coins in bank or purse and not getting anything/or even losing because inflation, which make everything more expensive, you can just buy stock of stonks and when you need coins just sell it and the cost of this item may increase with inflation. It's something like buying a house and then selling it for more.

@Hhh-qj7yt

6 ай бұрын

Until the 2008 housing market crash occurs