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Minecraft Economics: How the Nether Update uses the Subjective Theory of Value

What is an emerald worth in Minecraft?


An emerald is the currency used in the popular game Minecraft for trading with NPCs called villagers and wandering traders. Emerald ore is an extremely rare resource in the sandbox world, yet every employed villager has quite a few to trade with the player. However, players have wondered how the emerald compares with real world currency. One YouTube Video by GameTheory tried to find this answer. First, they tried to convert it by comparing the USD cost of bread with the cost of bread in the game, but found that conversion does not translate to other goods. Next they used the labor theory of value to try to determine the USD to emerald conversion, but again came up with a nonsensical conversion. Finally, they tried to assume emeralds have an inherent value in real life and work backwards to determine the in-game USD cost. After using all of these methods, they come to the accurate conclusion that it's not really possible to convert emeralds i…

Hardware, Software and Anarchowear.

As the digital world added a layer on top of our physical one and cyberpunks and pioneers of this new world hack away on keyboards and touchscreens, pulling the future towards us instead of us going to it. Code gets put into machines, machines build other machines and the entrepreneurial spirit of mankind gets an ever increasing toolbox to turn its wonderful fantasies into reality.



Not everything is a straight digital highway to freedom, there is many roadblocks and bumps in the road, as the vulnerability of the old world gets exposed when its standing face-to-face with the new one. It defies its rules and forces it to react as an afterthought.

The European Union scrambled together article 11 and 13 in an effort to stave off rampant infringement of copyrights that nobody but lawyers are concerned about and even though we don't know the full effect it will have on the internet as a whole, there is already counter-measures available that will spread like wildfire from the day the first meme-eating implementations gets introduced. The only ones lagging behind and getting filtered will be parents that no longer have cat videos on their Facebook timeline.



Pirate Bay got raided, its physical servers got apprehended in a 65-man strong raid but Torrents and pirate-streaming didn't even flinch - It only dug itself deeper, made its efforts to bootleg digital media an even harder task to stop. Improvising and level up security measures.

How could a non-lethal drone stop thousands of travelers to go on holiday and how serious would it have been if it was armed with a bomb? The Gatwick airport drone debacle that hit right before Christmas highlights how slow security measures generally is toward new technology.

When security flaws get exposed, peoples illusion of safety gets shattered and they get scared. Scared people long for protection. Getting your favorite streaming-site shut down is irritating. The potential for a teenager equipped with a drone to stop your vacation is scary. The same drone in the hands of a terrorist and a payload of explosives is terrifying. The public will scream for answers from the ones in charge - The politicians.

Anyone that saw the Zuckerberg hearing in the American Senate, equipped with some common computer sense will know that the people in charge have no clue what to do with this. Boots on the ground, more surveillance and harsh punishments are the only languages they can talk in when opposed to a problem so puzzling to them. Swedes caught pirating and sharing copies of movies gets millions of Kroner in fines. Germans get jail sentences for advertising on piracy sites. Ross Ulbricht got jailed for owning a website (short, simplified version).



The first generation of crude 3D-printed guns will soon be looked at as retro and curious. Both printers and materials get more precise and cheaper every half-year. The high-end printers are more and more common. My local library has a printer that can be used by the public during opening hours by booking a time slot. Any sort of control over who has a weapon or not is futile when anyone can download a file and can cook up the parts in their closet at a fraction of the price a licensed weapon costs and with little to no delivery time.

Firearms are only the beginning of the rabbit hole, have a listen through the Asian Capitalists video "The End of Classical Liberalism" to hear a very, very dark description of how things might turn out. Its just over 8 minutes long and is well worth it.



The revolution is right around the corner. Wear Anarchowear.

ALEX UTOPIUM 
Scandinavian anti-establishment blogger, editor for the Utopium Blog. Counter-economics, agorist-separatism and Free Market advocate.

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