Crypto Kingdom - 1991 Retro Virtual World(City)

[rpietila]

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)

[saddambitcoin]

Saddam bids 5 @ 45

[binaryFate]

Lord binaryFate bids 5@50.

[kazuki49]

Current situation:

5 @ 65  King
5 @ 60  King
5 @ 50  King
5 @ 40  King
-------------------

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

[rpietila]

What is the point in buying bonds if CKG is rising so much faster?


It's the usual distinction between equity in a venture and a high-yield bond.

* If the venture succeeds over the expectations, the equity investment is very profitable and the bond pays its stated yield.

* If the venture succeeds, but not over the expectations, the equity may increase or decrease in value, and the bond pays the stated yield.

* If the venture flops, the equity price is typically decimated, but the bond still pays the stated yield.

* If the venture fails, the equity goes to zero and so does the bond.


Bond speculation is not something ordinary people do, but can be done in CK. Let us assume that no further bids are made and the whole emission is sold at 45 million per unit (122% APR, 0.22% daily). If after 30 days the game is again running with the time on, and new players teeming, and it looks very distant that it could not pay back, the rate in the next month's Long Bond auction may be for example 40% APR. This corresponds to the bond emission price of 71 million per unit and daily rate of 0.09%.

Now, the interesting part. You have 30 days old bonds in your hand that have 335 days remaining. The going rate has been redetermined to be 0.09% per day. How much are your bonds then valued? 73.4 million each! (On the assumption that the yield curve is flat - quite reasonable if we compare 11-month with 12-month issues.) This means 63% increase on the original price, and you can sell the bonds at the new price if you want to cash out.

So it might not be such a stupid idea to buy the bonds after all. Granted if the launch goes perfectly, CKG rises manifold from the current price, but the bond also goes up nicely. But if the launch goes only so-so, CKG may take a hit, and bond rise simultaneously. If the launch goes bad but the game is alive in 12 months, you still make 122% for your money (CKG is not guaranteed to make anything). And if it is not alive, both investments are equally lost.

We hope that diverse capital markets attract players.

[rpietila]

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

Bonds are denominated in moneretos. Each bond pays back a fixed sum of 100,000,000 moneretos 1 year from now.

The bids are for the price how much you are willing to pay for getting that 100 million in one year.

The main purpose is not to collect money but to determine the yield curve and measure the collective trust on the continuing of the game - if it is closed before the maturity date, these bonds expire worthless.

Current situation:

5 @ 65  King
5 @ 60  King
5 @ 50  King
5 @ 50  Lord binaryFate
-------------------
20 units will be sold at 50,000,000 each, paying back 100,000,000 each (100% APR; 0.19% daily)

[saddambitcoin]

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Hash: SHA512

Hello CryptoKingdom!

For any users that wish to enhance the privacy of our communcations, I am pleased to announce the addition of PGP support.

My public key is below, and PGP fingerprint in my signature.

Feel free to encrypt your PMs to me here, or via email at saddammonero@gmail.com.


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[rpietila]

anyway what is so great about crypto kingdom? it sounds almoust  the same as secound life.

i highly doubt anyone will use this game outside the monero community

Second life is an extremely successful game which has 18 million users and the company is valued at $billions. It's no shame to be likened to such.

It's not even possible to play if you are not in the community, so you are right in that one as well 

[rpietila]

1600-August-1

Gazing out of the Throne Room window (there is no window of course, because they were blown away what feels like a century ago, but actually was last spring), we see the town and townspeople maturing. Many things have happened and the game has gained stature even during this time of (nearly) paused time. It is the time to recognize the higher status of many of the pillars of society.

Promotions in/-to Nobility

The Prince of North Face has been created the First Duke of North Face. "HH The Duke is primus inter pares in the Town Council and one of the most upstanding characters in the whole game."

The Earl of Rome has been promoted Marquess. "The Marquess Rome has proven himself to be an upright person and a help in need."

Dame Roopatra has been promoted Marchioness. "The long serving Councillor Roopatra (insert county name here!) has many qualities that warrant recognition. She has achieved the status without external funds. She is the highest admin below the King. She has worked hard for data conversions etc in the V.4 transition."

Lord binaryFate has been created Earl. "The Earl of (insert county name here!) has shown trust in the game at this interesting moment."

Lord Riddick has been created Earl. "Meow. (insert county name here!)"

Lord noms has been created Earl. "The Earl of (insert county name here!) has been one of the most active people in keeping the light burning in many ways during the pause."

Master dnaleor has been ennobled (Baron). "Lord dnaleor has helped the King in important ways."

Thud has been ennobled (Baron). "Lord Thud has been instrumental in strategic administration and has shown strong trust towards the game."


Many others have been promoted as well but due to the malfunctioning of the DB, not all are even registered there yet.

[saddambitcoin]

Lord Riddick is most pleased!

"Long live the King, and death to all his Enemies!"

[generalizethis]

What's the easiest way to buy gold?

[vaporware asset wizard]

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

Like you I thought this was a game, but I was wrong. I now see that CK is actually a financial matrix for crypto currency users to immerse themselves in while they're doing business, so while it might be fun to 'play',  people will learn to use it to move stuff around quickly, and exchange all manner of digital assets between all manner of parties. That's more than an arcade game!!

[Roopatra]

What's the easiest way to buy gold?

The Marquess of Ramsey (saddambitcoin) is the treasurer and accepts deposits in XMR, that you can then use to buy CKG ingame. So PM saddambitcoin for deposit details.

[rpietila]

(insert county name here!)

This means that you should introduce yourselves as the Earl of the certain county here, in the thread. And the county would be yours!

In V.5, the county will produce potatoes etc that the Earls can sell to cover their costs of maintaining the army to ensure the stream of potatoes.

Sometimes I think - would it not be better for everyone to grow their own, or buy them in the open market...

But then I realize that more than 50% of the national produce is paid as taxes to ensure that there is a big enough army (and judicial system, penalty system, indoctrination system etc.) that the redistribution can be achieved without resorting to the dangerous concept of voluntary exchange!

No not in the game lol. Our tax rate is 10%.

[rpietila]

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

Like you I thought this was a game, but I was wrong. I now see that CK is actually a financial matrix for crypto currency users to immerse themselves in while they're doing business, so while it might be fun to 'play',  people will learn to use it to move stuff around quickly, and exchange all manner of digital assets between all manner of parties. That's more than an arcade game!!

Well for now it's still vaporware as you suggest. Until the release of V.4, most of the game happens in here and IRC. To develop a platform that can do everything, and develop it without debt or outsider funding, tends to take some time.

But we will ramp up the financial thermometers that measure the progress. CKG has been doing well lately and the bond auction is going on.

[rpietila]

Investing in/-to Crypto Kingdom

The readership of the thread is up, and new people are scratching their heads trying to make sense of it. The dearth of accurate information is quite dire at the moment as the OP has become obsolete and the V.4 with its ingame wiki is not yet released.

CK is a very economic virtual world, in that each item, resource, piece of land, etc. has a value, and in most cases making trades is not restricted and not taxed or otherwise hindered. To give the game some flavor, exceptions exist. The value of the world is the sum of all its components in the database, less double-counting (eg. if a corporation owns gold and is therefore valuable, the value is calculated only once).


Summary: CK has various assets to invest in. The major types are gold/CKG (fungible) and land (non-fungible). In total the gameworld is valued at about 1,150,000 million m (1.15 million XMR), of which
750,000 is CKG
300,000 is land
50,000 is buildings
50,000 is items and other assets
financial assets exist that provide a way for altering investment sizes, ownership terms, risk profiles etc
 
Acquiring CKG is possible automatically via admin. Item/financials trades may be negotiated and recorded. Other markets are closed.



Gold (CKG)

1,000,000 pieces of gold exist and soon we will again have new gold: rules stipulate that when the V.4 is released, it will keep track of the actual playing time and grant gold to players according to how actively they play. The rate is $0.025 worth of gold per hour. So assuming we get 1,000 players and they play 1 hour per day, the 1,000 hours total playtime generates $25 worth of new gold per day. Depending on gold price then, this might be about 25-50 pieces per day, resulting in a structurally important but small inflation of about 2% per year. The adding of more players adds to the playtime but also raises the value of the gold, so the inflation stays contained, just enough to grease the wheels of the economy, without destroying the savings of the existing gold owners.

Gold also pays dividends from the Town Council surplus. The surplus per week during the late 1500s was about 0.50% of gold value, and the dividend rate was 33%. Thus the annual dividend was about 8%.

Investing in gold is very easy, as at the same time as you make a deposit, you can ask the treasurer to buy the gold for you, and the commission rate was recently lowered to as low as 1.99%. The liquidity is excellent, a trade of up to 5,000 million m can be made without issues.

Because of these excellent qualities to act as a vehicle for storing major wealth, gold has emerged to be just such - the total value of CKG in the game is now about 750,000 million m.

Land

The resolution of objects in the Buildings subsystem is 1x1x1 meters. Land is measured in 10x10 m increments called quadrats, which make up lots. At present 8,100 quadrats of urban land exist, divided to about 400 lots varying in size from 1 to 150 quadrats (150 quadrats is called a chapelry, which is the amount of land that fits in the smartphone screen, and is the largest allowed lot).

9 adjacent chapelries make up a borough. Boroughs are (originally) walled settlements located a few hundred meters apart from each other. Boroughs are created according to need when the Most Ancient Town of CryptoTown (the only place where we currently live, established in 1430 by the building of the Old City Walls and the Obelisk, and 1432 by building of the Notre Dame d'Armagnac and the Throne Room wing of the Royal Palace) grows. Therefore they have very different market conditions (years approximate):

1 (Old Town, 1430)

Old Town has about half of the building mass because it got such a headstart. When the V.4 is opened in browser, it starts in the Old Town Centre (1-C, "1" denoting the borough and "C" the center chapelry - others being named after compass points), making the holdings there incredibly prestigious and expensive. It is estimated that the land in the Old Town Centre would be valued at 50,000 million m, and this is easy to believe because of the advertising value alone.

Some of the other chapelries in the OT are also well developed and all are very prime historical lots.

2 (New City, 1520)

New City has perhaps the most magnificent central square, the Trust In Economy square (especially as the Central Square of the Old Town is demolished by the Earthquake). Other chapelries are not that densely developed yet, except the 2-E on the way to the Citadel and the Old Town. A massive development of Triple Towers was constructed there by the Prince of Soul and the Marquess of Tavastia. The floor area of the Town increased by 6% when it was completed. The towers raise to 28 m height.

3 (University, 1540)

Originally named "Culture & Science", this borough is still intended to be a green haven for research. The Prince of Soul Park is located here, it is the 2nd largest public (or private) park in town. The other noteworthy parks are King's Park in 1-N and Stoneton Sculpture Gardens in 2-S.

Quite extensive building exists in the centre and West chapelries, but many areas are not even quarried yet.

4 (Free Land, 1560)

The land here can be sold but price is low because there is still a lot of it to be had for free! The building and living conditions are demanding, though - this area is designed to be the place for the players who have small means but aspire higher.

5 (San Pietro, 1580)

The hottest land speculation area at the moment - San Pietro chapelry got a surprise honor of being the site of the Cathedral of San Pietro (named Cathedral only a year after construction, and d'Armagnac was demoted to parish church after being cathedral for about 150 years), and the Round Table House. The Cathedral is currently the single most expensive building project whose bill reached 3,000 million. When finished, the RT House will cost at least 7,000 million, making it the most expensive before Versailles is finished (if ever).

7 (Versailles, 1580)

The King acquired this borough for building his grand residence. The plan is old and not much has happened yet, except plans to construct a wider and wider esplanade from the steps of San Pietro to the east gate of Versailles.


The Town has a responsibility to always offer new land for sale in the outskirts of the town for 1,000 million per chapelry. This way the town grows at the speed that the population growth dictates, and the land nearer the centre becomes more valuable because it is more useful and desired. Until Quarry opens again, there will not be more Town land sales, though. The reason is that then the land would be left unquarried and we would soon experience a stone shortage.

Buying land is very interesting but it requires some skill to do it properly. The values of the lots vary widely, as they can be derived from prestige/collectible use, use for commercial/advertisement purposes, use for subgames such as quarry, hotel, restaurant, and perhaps other considerations apply. Historically, the aggregate value of urban land has nearly tracked the value of total gold, but currently has fallen behind. It will be interesting to see when the market is opened, where the prices settle. If the advances in gold price are followed, the premium locations will command top prices very soon. (Land market is closed now due to technical reasons.)

Perhaps the total land in the game is worth about 300,000 million m right now.

Buildings

Buildings are built on the land, and 1 sqm of floorspace can cost anything between 200,000 to 2,000,000 m depending on opulence. 113,451 sqm has been constructed already. Buildings can be used for various purposes. In most economic subgames, buildings and NPC workforce are the central components that make the output formula. (Outputs * pool_dividend - costs = profit).

It may be surprising that all the buildings constructed in the game are likely only worth about 50,000 million m. The reason for the low valuation is that new gold is not really created, new land is created but it is located further away so the very central land has even less inflation than gold. New buildings may be constructed at will, so the only thing upholding the old buildings values is their historicity.

Historic buildings have not commanded a high premium yet. The Marquess of Arda's palace from 1488 in 15-17 King's Park Street in 1-N, including a 2 q haw in King's Park, was recently sold for 700 million. It would cost about the same to build a new one, except that there is no land for sale in King's Park, probably ever again.

Resources

There are things such as stone, which can be bought for speculation. The total stone is now valued at about 9,000 million, so it's not a big thing.

Bonds

Bonds provide a way for risk-free* gains (the only risk being that the game is closed) denominated in XMR.

The Town is rejuvenating the bond market. Once the current round is over, there will be 3 maturities of originally 1-realyear bonds in the market. It is intended that new bonds would be issued every 1-2 months by auction. When the system is fully rolling, the total float of the bonds would be about 20,000 million. With new players, the Bank would also start lending again.

Stocks

A game with 100 player characters is not complete without 22 corporations! Most of these are traded and there is a market maker, so it's possible to buy and sell shares. The total market capitalization of these is about 50,000 million (excluding King's Coinshop, whose assets are about 150,000 million, solely consisting of double-counting CKG and m).

The rationale of the corporations is that most of the economic subgames have become demanding to play, and also require a lot of capital. Therefore, professional CEO's make decisions, and the money is pooled from the players. Stocks have been some of the highest paying investments with up to 2% daily returns during boom times.

Market making is disabled but it IS possible to buy and sell stocks upon mutual consent.

Business

Participating in the subgames requires mustering the needed resources (buildings, NPC, skill). The wage sum of the NPCs neared 500 million per day when at its highest. Some quarry companies had a daily turnover of 80 million. NewCorp aims to be the largest corporation to command a 150 million economy per day at least. It is not possible to invest in business now as the game is paused.

Items

Gold CR coins; Gold collectible coins

The original gold coins between years 1400-1600 in the game can be bought and sold. The estimate of the aggregate market value premium-only (not counting the underlying gold value) is 15,000 million.

Silver

Many characters own silver, which is a payment of international trade. But it is lost! Hopefully it will resurface in V.5 at least - we know the amounts but the goods are missing!

Copper tokens

Some copper tokens exist and these are among the oldest items in the game. Exactly 100 of the 484 copper tokens existing are from the 1300s, and very few other items of any kind are that old, probably invoking collector interest sooner or later.

Other items

There are very various other items ranging from toys to artwork to horses and carriage, created by players during the Ancient age. No Ancient items can ever be made again, because the Ancient age has ended. Collecting interesting historical items may be a nice and perhaps profitable hobby if real world is any guide. It is possible that the Ancient items could be valued at 30,000 million (of course very few trades would be made so the market will never be liquid to either direction). New items can be made and these will also gain value if they are somehow interesting to buyers.

[saddambitcoin]

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)

5 @ 60

[rpietila]

Auction closes in 26 hours

Current situation:

5 @ 65  King
5 @ 60  King
5 @ 60  Ramsey
5 @ 55  Soul
-------------------
20 units will be sold at 55,000,000 each, paying back 100,000,000 each (82% APR; 0.164% daily)

[rpietila]

King opens his toybox...

200 and some years ago, before there was a town in the Old Duchy, and when the Old Duke was reigning,

he got a son. He made the son a toybox according to the custom, and the son was playing happily with his few toys.

The son became a King, and the toybox was only found in 1600 during the preparations for the earthquake.

The contents had been decayed beyond repair with the exception of a few copper tokens.

*--*

The Char DB tab /F_OWN shows the situation with the coppers, as well as many other things of course.

Most of the coppers are from unique or near-unique years, so there is not much to offer to the collectors. Some of them are so old that the natural hoarding instinct of the King prevents the sale of them (he did not expend a thought to the coppers during 200 years but once they were found, the affinity quickly returned).

The tokens are useless but the reason why someone might be interested in buying them is that they are the oldest items in existence. The rules say that no more Ancient items may ever be created, and these coppers from 1300s and 1400s are Very or Most Ancient.

COT1368 (11 exist, 3rd oldest coin, 2 for sale): 50 mil
COT1391 (12 exist, very ancient, 4 for sale): 20 mil
COT1405 (7 exist, older than town, 4 for sale): 16 mil
COT1434 (37 exist, most ancient, 6 for sale): 8 mil

("exist" means total in existence, I don't own all the coppers, the church is the largest owner for some reason..!)

[generalizethis]

King opens his toybox...

200 and some years ago, before there was a town in the Old Duchy, and when the Old Duke was reigning,

he got a son. He made the son a toybox according to the custom, and the son was playing happily with his few toys.

The son became a King, and the toybox was only found in 1600 during the preparations for the earthquake.

The contents had been decayed beyond repair with the exception of a few copper tokens.

*--*

The Char DB tab /F_OWN shows the situation with the coppers, as well as many other things of course.

Most of the coppers are from unique or near-unique years, so there is not much to offer to the collectors. Some of them are so old that the natural hoarding instinct of the King prevents the sale of them (he did not expend a thought to the coppers during 200 years but once they were found, the affinity quickly returned).

The tokens are useless but the reason why someone might be interested in buying them is that they are the oldest items in existence. The rules say that no more Ancient items may ever be created, and these coppers from 1300s and 1400s are Very or Most Ancient.

COT1368 (11 exist, 3rd oldest coin, 2 for sale): 50 mil
COT1391 (12 exist, very ancient, 4 for sale): 20 mil
COT1405 (7 exist, older than town, 4 for sale): 16 mil
COT1434 (37 exist, most ancient, 6 for sale): 8 mil

("exist" means total in existence, I don't own all the coppers, the church is the largest owner for some reason..!)

Mil = 1 XMR?