The Economics of CROPBYTES Series — Economic Impacts of Q3-Q4 Roadmap
Updates are on RAMPAGE!
With the server scaling issues a thing of a past now, Cropbytes farmers are in a roller coaster ride of series of updates that already shaped the economy for good and there’s more coming up. A post from Cropbytes’ social media pages dated last July 28, 2022 reveals the Q3-Q4 Roadmap that highlights the long awaited updates that have been the talk of the farm since the start of 2022.
This blog will discuss the ‘possible’ implications and things that might happen when the upcoming updates are rolled out to the current economy. Be wary, there’s a DISCLAIMER — any information here is not in any other way will be the actual scenario of what might happen if the updates are released. Read the blog onwards with a grain of salt.
Asset Mining
Detail on the Official Cropbytes Blog Page here >> https://blog.cropbytes.com/asset-mining/
Many are waiting for this update and this one is an update that will be implemented in the soonest time in the 5 lists of roadmap updates. Most notable things about the update is the new use cases of Pro-Extracts, which is now required in making Pro-Mix. Before the update it is only used to make Breed Feeds. There is also a new Pro-Extract named Duck Egg, so possibly we will see a new Animal Asset, or possibly, a New Shed, because Ducks can’t be placed on Hen Sheds? I don’t know and let’s just wait for the update.
Another thing is after many months of scraping the bottom prices, Fruit Feed (FRF) will now have a new use case that will surely increase or possibly, pump its price as it is one of the requirements in making Pro-Mix. Many farmers have already stocked up on Fruit Feed and started watering their trees after the announcement.
Pro Mix is a new Asset that is a required ingredient in Asset Mining together with the corresponding required CBX (Depends on the Asset). An amount of Pro-Extracts and Fruit Feeds are required to make 10 Pro Mix. This will possibly increase the prices of all assets in the exchange. How much will be the increase is only time, supply and demand of the assets will tell.
CBX used up by farmers for asset mining will be stored by the team and a plan of action for the funds collected will be announced at a later date.
Assets Deprecation
As a farmer that only joined last year I really can’t delve into what is GC Island, Tropical Island, Gold Coins, Bytes Balance etc. but in what I understand, there are some assets that are previously bought last year or 2 years ago that is somewhat removed from the economy, as they cannot be traded on the exchange nor the rewards they produce. Such assets will be converted to equivalent amount of current/active assets. Users holding these assets will receive assets worth an equivalent value during the swap.
Only time will tell if the corresponding swapped assets is really valued to what it is really worth. Some farmers do not like equivalent Animal Assets and they prefer Power Producing Assets, Crop Lands, Water Producing Assets, or Cropbytes Token+plus interest.
CBX Mining V2 aka Dynamic Mining
So this more like in Proof-of-Work Mining, where there is a very tiny and very little chance that you can mine a Cryptocurrency block all by yourself, which is only viable if you have many powerful graphics cards/processors at your disposal with reasonable hash rate to feasibly mine a single block of Cryptocurrency. For most crypto miners, Pool Mining is the most preferred way to instead of trying to mine a single block all by yourself. Proof-of-Work Dynamic mining involves random calculations trying to solve random answers. Hence, the ‘bonus’ is when the calculations are solved in very short time.
From what I understand, instead of just converting your extracts to CBX, there will be an array of items, maybe in hundreds or thousands (or more), that can be crafted using the 8 different extracts. In turn, when crafting, there’s a very very very tiny chance that you can craft a very rare Crafted Item that is worth a lot when exchanged in CBX. So these Crafted Items can be just an item that can be exchanged to CBX or items that is actually armors, accessories, and weapons with common or uber stats which is randomly generated for Superhero battles.
Ok, enough. I think If go further more this will become a 1000 word Blog XD
Tokenization of Assets
In simpler terms, P1 Item will become tradable. This will enable farmers to balance their farm by selling their excess P1 Animals. All items will be put on the blockchain for transparency. With the on-chain, There will be a live page where farmers can see all the asset counts in the circulation real time. Possibly, one can see all transactions on-chain and how transparent this will be? only time will tell.
SERVICE ECONOMY
You can watch my uploaded video about it here
https://www.youtube.com/watch?v=mEBbCrh7qgg&t=1s
PVP MINI FISHING GAME
The is the Fishing Game but can be played online and real-time. Probably good if there will be a CBX prize or it will be only good if you are trying to kill time while waiting for the Corn/Carrot crops to be harvested.
So that’s it guys and I hope you like this Blog and so you soon on my next one
Happy Farming Everyone.