#hermitcraft s10 spoilers

[zhukzucraft]

Wither: Ascend

[eluminium]

shoutout to lawyer skizzleman he played his role PERFECTLY. He was THE PERFECT straight man to balance out the literal kangaroo insanity going on around him. AND IT'S EVEN FUNNIER WITH HIS STUPID FOUNDING FATHER ASS LOOKIN' WIG LIKE YEAH EVEN HIS CHARACTER DESIGN SCREAMS STRAIGHT MAN. Brother put his ENTIRE SKIZZUSSY into being the lawyer and while he may not have been the zainy crazy bitch the other FOUR relevant individuals already had that covered and he brought that perfect balance by going logic while the others go chaos.

Honestly, his dry and logical arguments only make the punishment even funnier. Like yes your honor highness, here's all the solid arguments and the evidence and the witnesses to prove the defendant is guilty of causing great emotional distress to my client. his punishment should be no more shiny blue ego rocks for his electrical wires. oh, your Highness suggest utter boredom in the custom sky jail? Fuck it, that's even better! Idk how else to explain how it makes it funnier except that it has the same vibe as the "Despite his criminal mind, this man is behaving well. His reward is the canoe" video.

[house-of-cards-and-crime]

was on namemc cause i was curious if the fishing madness had progressed and

grian??????? NOW what's happened???

[zedif-y]

see, impulse accidentally blowing up the ENTIRE MAGIC MOUNTAIN would've been more believable if i didn't know he would actually gnaw off an arm before doing something that would risk damaging anyone else like that

[dogerbooger]

Lil kitty cafe Cleo design…

[nem0-kn0ws-n0t]

Hermit Permits- or Hermitconomics101

I would just like to start off by saying I adore the concept. It's perfect. But also, I'm a massive nerd and I wanna talk about it.This is such a fascinating little economic model. Like, the usual hermitcraft economy is already so fascinating.

Warning-Long post! Also might Slightly skew your perspective of the Gimmick.

At first Glance, the Hermitcraft economy is the epitome of a Perfect Market economy -the basic selling/buying market you think of when thinking of markets-which has a few requirements

1. Homogenous products: gunpowder from Doc's shop is the same gunpowder from Tango's or Iskall or whoever sells it

2. No barriers to entry and exit: anyone can decide to sell. The technology's there. Any hermit can decide to make a farm or manually harvest something, set up shop and sell

3. Sellers are Price takers: If say, X and False are both selling copper ingots (for example), and X prices his higher than False (and they both keep their shops stocked), Hermits will buy from False. So X has to price the same (or lower but shhhh) than False.

4. Product Transparency: If you pay 1 diamond for a stack of iron blocks, you know you're getting 1 stack of iron. (usually) no shenanigans involved

And now the interesting point->

5. Many sellers- In a perfect competition market, the market is usually saturated with sellers, to the point that everyone needs to price the same, or at exactly the cost of production (or whatever needs to be to have the last seller joining the market to have economic profit of 0 but that's real hard to count in diamonds). Usually, this is done by having many firms coming in (free market remember) and undercutting each other until it's at the point where Supply is equal to Demand (yes, exactly the graph you're thinking of). In hermits' case, rarely is there more than one shop for an item unless there is an obnoxious amount of demand for it, and often, they'll buddy up in the same shop and split the profits and the work (I'm thinking of all the wood groups) for the highly in demand items. (More on that later).

So the sellers aren't usually competing with other hermits to sell resources- they're competing with the hermits' other way of procuring resources- The Endless Grind

Think about it- The rule of thumb for establishing the scope of a market (and its competition) is to ask yourself- where do I go if the shop becomes too expensive? In our real-life situation, we go to other shops- hermits just roll up their pixilated sleeves and get to work themselves. They are the alternative. (or Lag but stealing throws off all economic models so we're assuming it doesn't exist.)

A hermit shop, to have sales, needs to price its resources low enough that other hermits will see it as a better (cheaper) alternative than acquiring it themselves.

But Nemo, I hear you ask, isn't it always going to be cheaper to collect the material themselves? All the hermits already have all the tools/technology they'd need to get the resources they'd want, so shops wouldn't work.

But they do work, every season hermits "get rich" which implies there's something "wrong" with my model, which there is.

It's Time. That's the main currency in Hermitcraft.

Any hermits can decide to get any amount of resources with no real limit except Time. Sure, some hermits are more likely to build farms and have it done quicker than others, but all of them can decide to pick up a tool and just grind away (which they do, often). The point of the shops is to be convenient. You could spend 3 hours getting 15 stacks of oak wood, but you could also drop 30 diamonds at Ren's shop and get that done in less than a minute. Which, when you're a content creator on a tight deadline, already spending hours upon hours just building and editing and living outside of work, time is precious. So Time is the real trading currency on HC.

And so there comes a wrench in the plan as you have 2 "types" of goods- you have the Sellers' resources (that cost you diamonds but less time) and your own resources (which cost you Time but fewer diamonds)

Which invalidates point 3. Price Takers- There are 2 very different prices, which you are willing to pay at different times to different degrees. Somedays, they grind somedays they pay.

And thus, there goes the perfect competition model-

~~And in comes Monopolistic competition.

Now, listen to me, this is crucial ish- this is not the same as a Monopoly.

Monopolies imply there is 1 seller. 1. there is 1 way of acquiring the good (at this point in time) (everything is taken as if time is held constant). YouTube has a monopoly on hermitcraft videos (kind of). You can't watch Hermitcraft videos anywhere else, as the hermits don't upload their videos on other websites. If YouTube started charging 10000$ per video watched, you probably wouldn't watch hermit videos anymore. That's a monopoly.

Monopolistic competition is when a few firms sell slightly different products. Think Pepsi and Coca-Cola. They're functionally the same thing (don't @/me for this), but they both still work as companies, because people tend to prefer one over the other.

And thus our model. A monopolistic competitive market.

The real competition was not store vs store (unless for the bit), it was Sellers vs the Grind.

(There are also sunk cost fallacies exhibited, when hermits make their own farms for materials they know they'll need a lot of, which then reduces the time spent, especially with AFK'ing, thus the active time spent being reduced but server time still fluctuating but that can be hermitconomics 102 lmao)

But Back to this season-

With the introduction of Hermit Permits (which, is such a fun term, I wouldn't be surprised if they came up with that first before the concept) they are forcing there to be a single official seller. But hermits are still able to collect their own resources and make their own farms. So the market stays the same.

Which is probably not what you were expecting was it. All this fanfare but theoretically, the model doesn't change. It might change the point at which a hermits decides it's better to grind it out instead of spending diamonds, but not the theory.

But here's the second hole in this theory.

One of the first assumptions one makes about any market model is that everyone involved wants to maximize profits. (which irl, is making the most money).

But the same was as the real currency is Time, the real Profit for Hermits is Content (and engagement, and a whole bunch of parasocial scales to do with audience retention but I'm an economic major, not a sociology or business student damn it, we'll stick with Content) .

Theoretically, nothing changes in the economic model, but the result changes. The potential to change things up is massive, simply because they at least superficially changed something. Rebranding something, in a way that shakes up previously established norms- That's what they're getting out of it. Forcing people to do content about things they normally wouldn't even touch, which inspires viewers to be invested, so see our favourite blorbos overcome the challenge. It's a narrative device.

(If anything, I'd expect this to actually "promote the economy" as hermits would be motivated to stock up their shops, thus making more farms/farm building episodes, or the competition occurring from additional permits being circulated.)

So yeah. Hermitconomics 101- The not-so-perfect competition. Sorry If I burst some bubbles, I just think it's fascinating.

Thanks for reading to the bottom!

TL:DR :This is gonna be so fun, and the hermit economy makes economists everywhere cry

[cactuupng]

love these two morons /aff

[mysteryallaround]

i dont usually watch beef but ohhh my god. hes only got two episodes out to my knowledge and this "big salmon" as a huge criminal organisation thing is making the cogs in my brain turn. the idea of a huge criminal organisation watching over the entire server and intimidating/threatening/being implied to KILL people who put disrespect on their name?? and also Beef and Skizz being a few of their henchmen appeals to my brain. Beef is being paranoid and defensive about all this stuff while Skizz hasn't even shown any of it in his video 😭

[definitelynotshouting]

ftr the implications that s10's first ep could have for hunger au is doing cocomelon shit to my brain

[nebulainkmc]

The Base Grows! HermitCraft 10 Ep. 3 - SmallishBeans

[zhukzucraft]

congrats on the win!

[eluminium]

Pearl: Oh we'll make a mail system! So we can be more connected as a community! Yayyy!!!

Keralis: mails pieces of Impulses sick now dead horse Tyler Swift straight to him. Urn, ashes, leather, lead, head and all.

Pearl:

[mewintheflesh-2]

Low effort meme for you

[ghoulishcavern]

hermitcraft season 10: enforced monopolies (?)

[dogerbooger]

Some Hermit gals………..what more can I say

[the-canary-cursing-you]

this season is really the bureaucracy season