Game Theory: What is a Minecraft Emerald WORTH?

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In Minecraft's recent update to the Villager trading system, they stopped with their randomly-generated prices and started setting a standard. Well Theorists, give me a consistent standard and I will give you a theory! This is the key to figuring out the economy of the Minecraft world - or at least the value of all the good we've been trading all these years. The most curious, to me, were the emeralds. How much is an emerald worth in Minecraft - and how does that potentially RUIN Minecraft's whole economic structure? Let's find out!
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#Minecraft #Emeralds #MinecraftEmerald #MinecraftLore #Econimics #MinecraftWorld #Enderman #MinecraftTheory #Theory #GameTheory
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Credits:
Writers: Matthew Patrick and Zach Stewart
Editors: Tyler Mascola, Alex "Sedge" Sedgwick, and Marc Schneider
Assistant Editor: AlyssaBeCrazy
Sound Editor: Yosi Berman
Sources:
i.redd.it/r7aecqvkhhu21.png
www.payscale.com/research/US/...
www.singhalinternational.com/t...
minecraft.gamepedia.com/Tradi...
www.econlib.org/library/Enc/G...
“Chapter 1: How Money Works.” Dave Barry's Money $Ecrets: like, Why Is There a Giant Eyeball on the Dollar?, by Dave Barry, Random House Large Print, 2006.

[@cdiking7026]

Cut the farmers some slack, it’s hard to pick carrots without hands.

[@Spaceman-wx1jn]

Yes the poor farmers. They only have a long arm-like limb attached from both sides of his chest. It's a hard life for a Villager

[@lilschom8070]

How else are they supposed to defend themselves?

[@jovanihicks3036]

I forgot about that

[@PLPlushies]

That's so sad can we get an F in the chat (minecraft chat)

[@prince-of-water]

*M* *Y* *B* *O* *Y*

[@stealthboy316]

Steve: can I get the stew? Villager: this little maneuver is gonna cost us 51 years.

[@slevinchannel7589]

Sadly, we will likely never know. Whatever the Minecraft-Theory is, i can't stop being aware that, of all Franchises, this is the One that Denies all these Theorys, you could say. They make the lame Excuse that it's our duty to make up Lore for this world, and that's just extremly Sad to me Minecraft Theorys are the most likely of all Theorys ever to not be True and just be a Waste of Time, because Mojang Refuses to think up any Kind of Lore... Sad... It's the One Franchise all Theorys about are Useless, if you get what i mean. I wished Mojang finally changes that! And by the way, also Nintendo regarding Super Mario!! They should reveal actual Lore, so that we at least know where we are and what the Most Basic Common Sense is!

[@Rostof_TheGreat]

@@slevinchannel7589 you're overthinking it, Minecraft is a game about creativity and imagination, not story

[@slevinchannel7589]

@@Rostof_TheGreat Yes. It's still lazy though of the Creators. And it's still sad.

[@AndyHappyGuy]

@@slevinchannel7589 maybe there is no official story at all. It's _our_ story, we make _our own_ story.

[@slevinchannel7589]

@@AndyHappyGuy Yes, that's the lame Excuse Mojang uses. Hytale meanwhile? Not.

[@gastech8311]

Elon Musk: goes bankrupt “How did it happen” Elon Musk: bought a bell from a villager

[@dogeo1719]

lol

[@generaljuice5379]

I just steal them

[@mathewjose4753]

@@generaljuice5379 Look at you, a thief! Didn't your parents teach you that stealing is wrong? Learn from me, I just take them, not steal them.

[@generaljuice5379]

@@mathewjose4753 yes yes yes... Wise words my man

[@breawen]

@@mathewjose4753 eww you take bells? that's disgusting. i borrow them. forever... without permission.

[@robowyatt398]

I just thought of a few things, you have to consider that those prices are specialized for those specific jobs, that's why some rotten flesh will even get you an emerald in the first place, because its coming from the cleric, in order for it to be truly accurate you'd have to find a trade that almost all villagers have. and now that I think about it the emerald is very close to real world gold, its shiny, its rare, its dense, and its not that useful anywhere else.

[@greenentity6846]

bingo

[@rebeccab4604]

Matpat: Paper is like what? 2 cents? Artists: I wish Matpat, I wish.

[@zakarymoninger7845]

@Luke Crain good paper can be like $12 for an appropriately sized sheet. Probably more for really high-end stuff, idk.

[@chocchip4172]

@@zakarymoninger7845 what in the fricc is "high end paper"... it sounds like "high end water" to me Edit: Aight, apparently its paper that would be good to do neat stuff like paint on, cool.

[@jerotoro2021]

Yeah, Minecraft has no large scale forestry, no huge pulp Mills shredding trees 24/7, no massive factories shaping pulp into millions of sheets of paper every minute... Each sheet is hand crafted from tree to sheet. Guaranteed it's worth more than 2 cents. Matpat isn't factoring in supply, demand, cost of production, etc.

[@omdano6432]

@@chocchip4172 paper that doesnt bleed and is thick and size is big

[@jerotoro2021]

@JoybuzzahzTV ......yes of course. I knew this. lol. ALTHOUGH! Pretty sure the reason why is because the sugar cane was supposed to double as papyrus, and so it's not paper in the modern sense, but papyrus sheets. And a quick Google search tells me that I can buy 10 sheets of 8"x12" papyrus for USD $20. $2 per sheet, way more than 2 cents!

[@Vekcrazah]

everyone: ‘emeralds are worthless’ me, saving them up for mending books: ...

[@Kindelwyrm2]

Ooooh, I should probably do that for my Elytra. :|

[@Headhunter1234256]

@@Kindelwyrm2 probably, but enchanted with unbracking 3 you can fly and get around with ender pearls for like 6 before it gets low on durability.

[@rickwaver213]

not just mending books. if you cure a weaponsmith,toolsmith and a armorsmith, you can basically transform 1 iron, 9 coal and 1 diamond into a piece of diamond gear. even rotten flesh can be transformed into a diamond set for cheap

[@alex_2928]

Ooh that's smart

[@rickwaver213]

@A Person or if you find a zombie spawner at the beginning you can have infinite emeralds. iron farms are better for emeralds tho

[@AsymmetricalAce]

"Angry mobs aren't knocking on your door every night" 2020: allow me to introduce myself

[@MishaG4mer]

I've read that PERFECTLY as the video said that, lmao

[@w1nterdays]

“You can’t eat them.” Abigail from Stardew Valley would like to challenge that

[@coolchannelhehehe]

"how'd you know i was hungry? this looks great!"

[@feli_potter8561]

@@coolchannelhehehe me who was doing a marry abigail run knows that she eats quartz, emeralds, diamonds except amethysts for some reason

[@blokvader8283]

@@feli_potter8561 Me being really confused when I heard she liked shiny rocks, but hated my amethyst even though I thought "they're both purple, she should like it"

[@feli_potter8561]

@@blokvader8283 i made that comment a year ago

[@blokvader8283]

@@feli_potter8561 I just found the comment now, got excited that it said stardew valley, wanted to reply to something, sorry

[@spartanthingy7326]

Honestly I always thought that villagers mined all the emeralds everywhere and that's why their so few of em in caves and why villagers have a ton of em and will basicly give em out for free

[@theoutsiderjess4869]

That would make emerald worthless indeed

[@peterparkersashes6253]

Juan Pineda so they basically have a monopoly on emeralds

[@spartanthingy7326]

@@peterparkersashes6253 basicly

[@sentrydraws25]

Seems accurate

[@spartanthingy7326]

@@fletcher2421 mine shafts

[@nixian_zwaylus]

am i the only one feeling like there was a missed joke opportunity about gems being measured in carrats (carrots)?

[@pixel7649]

Nice one there... Now im hungry...

[@kamikazedollxo]

Why, *why’d you give them the idea?*

[@zealiketea]

I thought it WAS a joke for a bit

[@logan6211]

He already did it in the one episode about a diamonds true value, where he ruled that a full suit of diamond armor was worth a few million dollars, I think. Jenne sais pas.

[@jack_mackay]

Did that for the diamond video

[@Averysoysauce]

Matpat: *drops sticks on table in jewlery store* , I WANT AN EMERALD NECLACE PLZ Clerk: umm, sir. Please pay actual USA currency. Matpat: mmmm, no. 32 sticks is worth an emerald.

[@tcscity5gaming]

lol

[@samuellopez479]

Ah ah! Using the thread, additional metals, and linking piece, you require more than 32 sticks

[@neonlights_4074]

Steve: *Most powerful being* Wooden door: I cant stop you, but he can. W O O D E N F E N C E

[@bigmanimation]

Haha

[@nothingjustnothing7900]

Also Steve: Placed carpet on the wooden fences

[@Nightmare_Developer]

beacon : allow me to introduce myself :)

[@yodude2016]

*steals villagers crops and sells it back to him* Me: Stupid villagers Villager: Hmm (I just made him do 6,5 hours of labor for a green rock)

[@arstotzkanplaguedoctor]

yep

[@lifeisstrange3918]

(*ಠ_ಠ)つ

[@pudimjogando1198]

STONKS

[@firebolt6204]

He just finessed the crap outta you

[@lesserevil8136]

I just gave an emerald for 6 book shelves, and traded 18 books for 3 emeralds. Stonks. Stupid Villigers. Villager: READS ↗️

[@papyrusthecool8321]

MatPat at 11:54: Everything is done by hand. Mumbo Jumbo and Iskall: Allow us to introduce ourselves.

[@RikuMcduck]

Cool dude

[@kanyevil127]

No I am cool dude

[@tnsteve7386]

Who is iskall?

[@kanyevil127]

@TNsTeve A very skilled Minecraft player

[@lordhobo9048]

@@tnsteve7386 redstone experts also a channel

[@BaggyGoose]

My theory (more guess)s that, due to the wide range in prices, the villagers have a culture where it's normal, if not expected, to haggle prices of items.

[@madisonatteberry9720]

"these things are called 'precious gem stones' for a reason." Except, like with diamonds and gold in this game, it seems to be almost freaking everywhere, and with the ancient builders that may have mined them previously, may have actually been devalued.

[@zocz9072]

“I wonder what the currency is like in the future” Me: *laughs in toilet paper*

[@abbyyoung2610]

Zocz and apparently beer now that the US closed all sales of alcohol

[@a_name1]

I have 12 rolls of tp I am god

[@CoronaVirus-kd9gv]

lol

[@abbyyoung2610]

Alfie Hamadani woah dude.... woah you can’t display such power these days. People will find you and take it.

[@shamrockgamer401]

@@a_name1 DUDE I have 50 rolls beat that

[@Unorite]

Emeralds in vanilla Minecraft: _weak_ Emeralds in modded Minecraft: *STRONK*

[@debbiedinnoo8992]

69th like Nice

[@nakaithewanderer8071]

Emeralds in modded minecraft: *stonky stronky*

[@oldassaccount4790]

Stonks

[@creater20225]

tinkers construck uses a emerald32 string and 4 gold ingots to make the tools have silk touch.

[@aromorguythefirst1600]

Villagers when they receive emeralds: *STONK*

[@Memezndreamz]

1:50 the baseline price also matters if the villager has been resurrected from a zombie which gives permanent discounts or if the villager has survived through a won pillaged raid which gives temporary discounts. The discount is only as high as the chief bounty is on your head before entering a village. The villager resurrection stacks which means you can let a zombie on hard kill a villager like five times, resurrect them, and now you have 1 emerald per trade. This too stacks with raids

[@projekttaku1]

I know. I done it and its so broken.

[@omniverse7976]

The fact that we don’t know emeralds are actually valuable in Minecraft also relates to many ancient civilizations. You’d trade 2 sheep for 5 bread loaves. In fact, in Ancient Egypt, silver and gold pieces, probably about the size of a quarter or nickel, were used as currency. A nickel made of gold would be worth a fair amount. Not I giant amount but a fair amount today, back then though, it wasn’t.

[@Komatic5]

Everyone: Emeralds are worthless Me, having a villager trading system for enchanted books:

[@dontmindme7645]

Gotta get those mending books

[@FivenightsatRays]

LOL

[@stevencancio-newton6612]

No need to flex

[@Dinosaurianationazation]

In real life yes, in Minecraft no

[@shay.w.5812]

@@Dinosaurianationazation Same, I've trained people living in rural areas to give me voodoo books.

[@Fetchinator7]

4:40 “The villager isn’t just paying an emerald for the carrots, he’s paying you an emerald for the carrots plus the labor costs it took to pull them out of the ground” Yes... labor that I totally did... It’s not like it was your enslaved friends and family doing all the harvesting only to have me steal the crops before they could share them amongst each other. What kind of sick monster would do that?

[@fouryou2887]

*laughs in sith lord*

[@goodman5993]

Laughs in automation

[@rowangamblin]

LAUGHS IN MONSTER

[@Shadowdx-py2ni]

I would

[@masync183]

cackles in capitalism

[@zonbiimusic4750]

Steve: spends literal gemstones on a world atlas Cartagropher: you have to draw it yourself

[@omgnelonr1631]

I love how it went from "How much is a Minecraft Emerald Worth?" to the basics of economy being explained.

[@pingufan1239]

11:54 Matt: “Everything in Minecraft is done by hand” Mumbo with his auto farms: “Allow me to introduce myself”

[@cakecheese2895]

Villagers who don't have hands:

[@cooperolson8250]

Bruh

[@redonedanc]

Why do Americans say liter ly and not litrely?

[@kanal2123a]

Why is he so popular for autofarms and redstone stuff in general? Scicraft members and Ethoslab are a lot better at doing redstone... Etho is pioneer, he even has clocks and "gates" named after him... He created sorting and storage system "Nexus" and massive portable storage... Mumbo is good too, he's just overrated :/

[@dorijancirkveni]

@@kanal2123a I guess because he's more of a redstone science popularizer than a redstone scientist?

[@axfinity9134]

1st half of this video: How much does an emerald cost? 2nd half of this video: The tragic lives of villagers

[@leptoad2145]

He really goes on a tangent

[@MrDankTM]

hello Ax. btw super bowl 2020 is boring

[@BLZPHR]

JODisHere wtf is your problem? Get outta here

[@tiralu]

"They farm way slower than you do" my ultra high end villiger powered carrot farm tells me a different story LUL

[@ShizuruNakatsu]

The emeralds are definitely cut. Their cut is called "emerald" cut. They come out of the ground cut already in the game, but look up gem cuts and you'll see. You could also argue it's the "octagon" cut, but it's more elongated vertically so it looks more like an emerald cut, which I assume they were going for, considering it's an emerald.

[@trinityfranklin8356]

Why doesn't KZbin ask us about satisfaction AFTER we get done watching the video?

[@sashalianski7566]

I know it feels good, for a person to answer ur comment so... hi

[@MrDankTM]

hello franklin. btw diesel patches is daddy

[@trinityfranklin8356]

@@sashalianski7566 😃👍

[@tvangelist]

@@sashalianski7566 hey dad

[@MJWITHER]

Like/dislike is simpler

[@crossisbig6868]

7:35 Can we just talk about how he straight up mined an emerald with a stone pickaxe probably to tick us off

[@royalknight2808]

Not ony did he do it once, BUT TWICE?!?!?!

[@CxffeeBean]

It's funny cuz it broke in the animation and didn't pop up as a smaller floating emerald

[@ChanceRhodes]

Realistically, it's because we see the stone pickaxe graphic in previous shots so it was probably because he just had it handy... BUT I do like to think he's just being a little troll

[@ashdeem913]

and it also made the sound of gravel breaking

[@toastybutondifferentacc5775]

At the same time tho, you only need like 3 pieces of paper to write an infinite amount of pages on a book, so emeralds can count as an infinite amount of money

[@pixtane7427]

This is gameplay and also not infinite pages. There is a cap at 50-100 pages

[@XSniper74184]

I remember when that diamond armour episode came out. To this day whenever I or someone else says, "but I digress," or any similar phrase involving, "digress," I always say, "and I sidequest!" I never knew the guy. I'd only ever just seen his videos but it's still sad that he's dead. Rest in peace Ronnie.

[@papayadoodlez9994]

Sonic: THIS EMERALD CAN SAVE THE WORLD!! villager: how about a piece of bread...

[@MrDankTM]

hello panda. btw joe

[@dulce6711]

Yaya panda & Baby Cakey true

[@setseretze3565]

why not 300 emeralds

[@dolanduck3041]

*THE NEGOTIATOR*

[@JG-js9ww]

Villager:you want grass?

[@alostduckling5024]

Mat Pat: frustrated at someone who’s “having trouble” playing a video game, “you know ur good at” Screen: shows mark on fnaf SHOTS FIRED MY FRIENDS

[@tiffanykun8144]

*THE KING OF FNAF*

[@RandomPerson56086]

Yeah, I died laughing 😂

[@MrDankTM]

hello christopher. btw diesel patches is daddy

[@jackj7877]

"In Minecraft, everything Is done by hand" *Laughs In Redstone*

[@connor_awesome6482]

14:21 i love the magikarp popping up when he said useless

[@thatsroughbuddy1407]

I think you're missing a big lore opportunity here... how do villagers have so many emeralds across all of their villages, but emeralds underground are extremely rare? Maybe someone mass mined it, like the ancient race. Or maybe the villagers were better at doing stuff before, and something happened to them, just like the endermen. I feel like if I say something like this I have to make one of those super long comments, but I'm probably wrong so I don't have to 😁

[@pudimjogando1198]

Oh please, write more it actually makes a lot of sense Emeralds can be super rare as most have been mined maybe because of their magical properties (in beacons)

[@H0llowz]

I think it's so rare because the villagers mass mined all of it and what's left of the emeralds are unfound

[@colorman9323]

That would mean that the caves could be a mining place

[@samlink686]

Maybe in past emeralds had more magical propertys then just being used in a beacon Could an ancient race have been magical creatures?

[@Shiyamirai]

Kind of how like the Aztecs, Mayans etc vs Spaniards. To them Gold and Platinum were just for artistic purposes, usually to hang on a wall, make statues or for religious purposes. To the Spaniards it made them gold crazy and greedy because they put a different value on gold. They also considered Platinum useless and without value, which now in modern times would be considered crazy.

[@moomoomachines7193]

You could also make the argument that emeralds in their world were so abundant and common that it could be used as a common currency. Lobsters back in the early 1700s were super plentiful and considered prison food. People thought it was the poor mans food. But now that the lobsters are rare, they become super expensive.

[@hououinkyouma6629]

Emeralds *are* not! common in the Minecraft world, atleast to the player.. Idk how villagers got so much emeralds (Need a villager conspiracy video)

[@moomoomachines7193]

Hououin kyouma They could be very common because the villagers could have mined all of the emeralds out of the ore. Just because there are no emeralds in mines doesn’t mean there are little emeralds in circulation of the villagers.

[@SapioiT]

@@moomoomachines7193 Considering the theory of Minecraft being set in a posy-apocalyptic world, and how players have different capabilities than the villagers, it could be possible for the villages to literally poop emeralds, and to maybe use them for something which the players cannot use them for. But we don't know what, yet. Maybe reproduction. I mean, villagers need to eat before making a baby villager, so theoretically they could be used for spawning creatures. And we just need a way to make spawn eggs using diamonds, or to acquire spawn eggs through trading, to confirm that.

[@hououinkyouma6629]

@@SapioiT who knows... Maybe the villagers first gathered emeralds and then turned them into some sort of emerald generator or they might somehow infused themselves with emerald (don't ask me the details) or.. they really do know some sort of secret crafting recipe which is also easy to gather and craft

[@aljon5947]

They painted crystals with green dye.

[@RetroVibin]

This video has taught me more than my economy class has.

[@Liyaskoo]

Matpat: Everything by hand. Mumbo Jumbo: What did you sayyyyyy.

[@GogiRegion]

I like to imagine that extreme emerald mining caused the supply to be so large that it devalued the currency, so now it’s a common item that people use like a coin.

[@BriiIndica]

Alexis Harper which would explain why their so hard to find

[@kittykittykitty7682]

@@BriiIndica And presumably mining into a mountain (or extreme hills in earlier versions) is too difficult for villagers, which is why they're only found there now. But that's etc.

[@MrDankTM]

hi alexis. btw joe

[@user-nz3qm3rb8v]

ref.sharecash.co/yahia best way to make money

[@defaultdan7923]

JODisHere mama

[@drmem9514]

Matpat: Villagers can’t defend themselves Nurm: *Sad Villager noises*

[@wjcplastersolution]

Wait from Minecraft story mode? Sorry I haven't seen the game in a while

[@jennyzhao9271]

Wow why is this so specific

[@wjcplastersolution]

@@jennyzhao9271 ¯\_(ツ)_/¯

[@BasicallyRANDOMYT]

Yes

[@wjcplastersolution]

@@BasicallyRANDOMYT Oh ok

[@appletree3541]

7:42 An arm a leg and a child For that you could learn the secrets of alchemy and make your own emeralds In Full metal alchemist the Elric brothers try to revivr their mother but one of them loses and arm and a leg and the younger brother loses his whole body but they get knowledge from an alchemy god and learn how to do alchemy without transmutation circles In case someone didn't get it. Correct any inaccuracies it has been 1 year and a half since my last rewatch

[@bate_ate7182]

7:50, Steph asks if Mat has seen Ollie, but then where did he get the arm and the leg? His limbs are attached to his body and same goes for steph :|

[@Merlin_Ambrosius_1100]

Didn’t say it was THEIR arm and leg

[@xT0rn_]

“It was frustrating- just like watching someone struggling through a game you’re very good at.” *shows markiplier struggling in fnaf*

[@SuperMaanas]

xT0rn_ It’s because Mat is a FNAF theory expert while Mark isn’t. So, from a certain point of view, Mat’s really good at the game

[@Kitsunelover1995]

@@SuperMaanas and markiplier made a reference to game theory in fnaf 3 its in the compilation

[@jordanpaul492]

thanks for explaining a scene word for word

[@slevinchannel7589]

14:06: Buddy, you never lived in Alabama, didnt you?

[@memeboi2096]

Yeah whenever I see someone play farcry5 who is new to the farcry series I have finished the game like 4 or 5 times

[@1ronic127]

"Mommy, can we have rabbit stew tonight?" "Nah sweetie, just give me a year or two"

[@1ronic127]

@Ian Li from the cleric

[@DockingFreedmanRecords]

Villager family struggle.

[@1ronic127]

@tutacat Matpat has theorized that the minecraft earth is round. Most obvious is that minecraft has gravity.

[@houselemuellan8756]

@@1ronic127 but clearly not the same gravity as in our universe.

[@lauren3173]

11:51 Excuse me, we’re called bakers! 😂

[@battleax6364]

9:10 The fact that he said that and now we can actually play as Minecraft Steve in smash brothers ultimate is crazy

[@shortyboio]

Villagers talking about Steve: He protecc He attacc but most importantly he sell us sticc bacc

[@MrDankTM]

hi short. btw joe

[@MuffinHawk]

JODisHere bro why you keep doing that everywhere

[@user-nz3qm3rb8v]

best way to make money ref.sharecash.co/yahia

[@cherripai7645]

@@user-nz3qm3rb8v no

[@finalcartoon1044]

@@user-nz3qm3rb8v best way to make money: get a job

[@lightblazex4756]

The real item worth a lot of money here is the lava that can be used like real life crude oil. And we have a whole dimension filled with it.

[@nibs7252]

The Nether is Minecraft's Middle East, confirmed!

[@Sacabambapis_]

Yes

[@titanicsam19]

Tekkit intensifies

[@nategamer9184]

@@nibs7252 ye

[@colecochrane8164]

I always like this idea and do this in my SMP. It is very funny because at one point we had to have a war over the remaining fuel

[@Pokemonmasterz]

10:13 so let me get this straight, if this was the actual pricing, I have about 100s of millions of dollars just laying around in a chest I have

[@deconstructor3582]

You didn't mention another problem which currency in Minecraft has - no additional means of payment. In the USA, as you said, you can pay either by dollars or cents, which allows us to measure a commodity's value more adequately. Since there is no such thing as a cent, there is a problem with the adequate measurement of a commodity's value. This problem, in real life, was present mostly in the medieval ages and renaissance and was dealt with by adding secondary currency to pay, or by dividing real coins into pieces. Since it isn't an option in Minecraft, this is hard to tell what's the value of the commodity in the game, because there isn't a currency of less value than a singular emerald.

[@ancientburrito9893]

SPOILER: One Emerald is approximately one Emerald.

[@gramram3062]

OMG!

[@gramram3062]

I never knew tha..... of course i knew that

[@RomandoPWE]

YOO YOU’RE SO SMART

[@sajeucettefoistunevaspasme]

After search One emerald+-10^-23=one emerald

[@BlockheadBlocks]

>:0 How dare spoil

[@Wincognit0]

13:17 just realised that”s my profile picture.. Edit: how did I get 1K likes in a single check. Also the last time I checked I had 1K now I have 1.1K.. this comment is... OUTTA THIS WORLD!! :D *pun intended* Anyway thanks guys

[@katievoss1681]

Space Life: coincidence I think NOT!

[@user-yw3ic8qc1h]

Space Life lol

[@enchantedorange3141]

Lol

[@esthermontalvo3467]

"Begun the clone wars has"

[@noxlupa2996]

Space Life ayyyyy

[@jackchoukaier8764]

In economics, giving something value because it has use, beauty, etc… is call intrinsic/extrinsic value. Dollars and other modern currencies called “fiat” currency (Fiat being Latin for “let it be done”) has no such value itself, the only thing giving it value is because it is considered legal tender in its currency zone. In fact, fiat is defined by having no value (as in you can’t eat it or ride it.) Maybe the emerald is the fiat currency of villagers, its price changing from village to village.

[@noppornwongrassamee8941]

More like villager to villager. I can't count how many times I came across two villagers in THE SAME VILLAGE selling/buying the same items for completely different prices. Like Villager 1 willing to buy 30 paper for 1 emerald and Villager 2 only wants 22 paper for 1 emeralds.

[@Gabowsk]

Alternate Title: MatPat explaining how capitalism works while getting insane with Villagers' working hours and wages.

[@AKiDNAMEDLAX]

This video is the first 200 pages of Capital Vol I

[@delightfulrainclouds6394]

Me: **was just watching film theory** Me: ok I think that’s enough for now, I should move onto- **Game theory notification** Me: **_looking around room suspiciously_**

[@vzihall]

They are watching. Always.

[@ihatemirrors1216]

The League of Villains is also watching, Child Deku.

[@RalvinTY]

where are they...

[@hollowcookie9648]

RanDOM ANGER ISSUES ,?????? Tokoyami got yo back

[@ihatemirrors1216]

@@hollowcookie9648 shut up hero

[@pastelcreativity9595]

Mat: "An arm, a leg, and your firstborn child" *You don't seem to be missing any limbs... Who. Who have you taking limbs from Mat? Well?!*

[@2milk711]

take the arm and leg FROM the child. save some money and limbs

[@gaylordrobinson1199]

2% Milk big brain

[@pain_peko]

his secondborn child

[@because_raisins]

He took them from the child with DIY amputations. DIY as in:Devil Inside Yourself

[@demonclaw2327]

*The FBI would like to know you're location*

[@capesword111]

The idea of money in a simplified system like this is in fact to use something pretty but useless for trade. Gold was a currency because it had prestige but nothing else. Perhaps emeralds are prestige in Minecraft.

[@danielmcbride6413]

I really enjoyed this video! I liked how it took a nuanced approach that that really does explain the apparent value disparity between items traded by villagers for emeralds. It made me think about it in a way I haven’t thought about it before. It also made me think about rotten flesh. I think paying one emerald for rotten flesh is basically the equivalent of being a Minecraft bounty Hunter. Think about it! The enemy that poses the greatest threat to villagers(aside from players) is the zombie. The difference is, some players don’t hurt villagers, but zombies indiscriminately kill them all and turn them into the undead. The villager is likely willing to pay you a day’s wages for 24 pieces of rotten flesh not because they value the rotten flesh, but because the assumption is that you killed zombies in the surrounding area, thus making it vastly safer for the villagers. It’s actually really brilliant game design when you think about it like that.

[@Sirzacharia]

10:50 “Am I just wrong about this theory? Well no” nice job matpatting yourself on the back there.

[@AlmondGlue]

You put the time stamp at the very end of that. Also, he didn’t ask if he was wrong about the theory, he asked about the calculation.

[@FerventSpy66834]

Almondglue r/whoooosh

[@pogfection787]

@@FerventSpy66834 Its not a woooosh, there was a legit mistake.

[@AlmondGlue]

The Cat Show 66834 r/ihavereddit

[@lindor2948]

@@FerventSpy66834 r/woooosh dumbass and that's not a woosh

[@aspenator4091]

Baby villiger: I dont wanna eat rabbit stew!!! Villager: Jonathon, this took me 8 hours for these 2 bowls of stew so eat it

[@Ir1sss_]

Lmao

[@Ir1sss_]

I would love to have rabbit stew

[@jessepapi7927]

@@Ir1sss_ Same. Never had it but it sounds delicious!

[@reuzdanielle4095]

Lol

[@MrAzat-vi6qf]

You ungrateful little shi-

[@deathc0ntent]

the funny thing is that if you infect and cure a villager they just sell you diamond armor for 1 emerald, so perhaps you can tell what the price of an emerald using that method

[@the_Ikar]

11:54 "But in minecraft everything is done by hand" *Laughs in automatic farms*

[@N2O_The1000thElement]

When a villager pay you a rock for 6.5 hours of labor Villager: Stonk

[@WHATaOG]

@Teroshki lol

[@Silverwind87]

Cashier: That'll be $3.50. Me: *lifts a melon sized emerald and drops it on the counter while grunting heavily* Keep the change.

[@renegadeprism42]

The most underrated comment here

[@oilyfrog5022]

The change being 11 billion.

[@MrBlockhead132]

Please please hand me that and tell me to keep the change 😂😂😂

[@immasnarl292]

@@renegadeprism42 *tHE mOSt UndErAtEd ComMenT HeRE*

[@darknessblades]

*when you have soo much money that you do not know what to do with it.

[@rockysradar]

Matpat : Everything in Minecraft is done with hand. Every redstone engineer ever : You sure about that?

[@maxifire32]

Fun fact: in a world with no extreme hills and villagers emeralds are infinite times more rare than normal, this also applies to super flat world with no villagers

[@clumsiiconfidant5780]

Steph: Hey, where’s Ollie? Mat pat: **Clueless seeming whistling**

[@spookysomeone]

i saw ollie and, forgetting they had a child, went "im here"

[@kingthordan2562]

'Honey, have you seen the baby?' 'No, I think he got outside' ... *Unzips Dad disguise* ' *you FOOL* '

[@adriennekaio4980]

MatPat: _does economical study on Minecraft villagers_ Internet: *_You have earned our respect._*

[@user-ng7sz9bi2i]

i love that the subtitles at 7:58 is "MatPat is thinking about every decision in his entire life...and whistling"

[@emilyyoung2485]

Fun fact: the thing wrong with this theory is that mat pat compares the cost of stuff in their world to the cost of stuff in ours. Paper for example is made by in bulk by machines here, but in Minecraft it seems to be more handmade, increasing the value

[@TheRealMisterSteve]

Me: So how much is a Minecraft emerald? Mat Pat: Yes

[@MrDankTM]

hello Dimond. btw joe

[@latamalera6888]

Who is Joe

[@deathrayman8074]

@@latamalera6888 Now, as you can see, you've fallen right into my trap!

[@howtoplaygameswrong8719]

Matpat: you can't eat emeralds Me: *Is that a challenge*

[@TheKnightCrafter123]

Do it! 🤣 buy a single real emerald gemstone which worth a fortune than eat it. Yum that sweet sweet sensation of eating money

[@ironscorpion5131]

*Shaggy has entered the chat*

[@jrcspiderman2003]

@@ironscorpion5131 😂🤣😂

[@zacharyherring8780]

Yes That is a challenge

[@brandonbombplays9304]

14:20 “It’s unnecessary.” *shows magikarp* You killed me with that one.

[@bigfred5012]

14:43 kinda random but i used to walk that same bridge every day to get to high school

[@Jireninyourrecommendations]

Calculating the price for an Emerald is as equivalent as calculating Reddit Karma. They're both all over the place

[@randomshyte9989]

And they both dont matter

[@narayananmohan8114]

Dont encourage him... He'll DO the calculation somehow. XD

[@Stefanga44]

Wait here are 3 replies but on my screen before i click on the comment there stands one command

[@IHateCopperGolems]

Next do a theory on what went wrong in the wandering trader's brain to make him think his trades are good

[@Squidkid3333]

Agreed

[@crypt5129]

Idk, sometimes he’s useful

[@Squidkid3333]

@@crypt5129 Its a 3 percent (not really) that he has something useful

[@crypt5129]

@@Squidkid3333 I am an extremely lazy player, so I look forward to the wandering trader visiting my base. I can buy lily pads instead of walking to the swamp right next to me

[@Squidkid3333]

@@crypt5129 true, lilypads are pretty good

[@matthewwells2520]

13:00 "Angry mobs aren't trying to attack you every night...I hope." 2023: Hold my beers.

[@jerilds]

I love how mat and steff named there child from a skateboard trick

[@dDeckon]

Matpat: 7:42 Steph: "Have you seen Ollie?" Gamora: what did it cost? Matpat: Idk, You Tell Me

[@MrDankTM]

hello matpat. btw diesel patches is daddy

[@westvirginiastatepolice8873]

dDeckon ur wasting ur time

[@fouryou2887]

If you spam one more time say goodbye.

[@dDeckon]

?What are you talking about? I typed this comment myself? Are ppl copy & pasting it????? Why? i'm confused

[@westvirginiastatepolice8873]

dDeckon I wasn’t talking about u

[@ecw613]

"In Minecraft, everything is done by hand." *Laughs in Redstone*

[@sirwaddlesdeethird7186]

*Laughs in COMMAND BLOCKS*

[@kyudeathsbr3138]

@@sirwaddlesdeethird7186 Laughs in *JSON , OPENGL , JAVA AND C++*

[@owend0818]

KyuDeathsBR *laughs in telekinesis*

[@ecw613]

@@kyudeathsbr3138 *Laughs in Mumbo Jumbo*

[@sirwaddlesdeethird7186]

@@owend0818 Minecraft has telekinesis? What mod I want to try!

[@scibanana3542]

no, the real most interesting part of recent Minecraft was when mojang turned netherrack from a cubic meter of dried blood from an infected scab that you pulled on your leg to the not-that-bad looking thing it is now.

[@itsjustaviper]

I did the math and going based off of gold blocks, Each gold ingot costs approximately $141,298,970.37. Going off of the cleric trade of 3 gold ingots per emerald, one emerald is worth approximately $423,896,910.90 without buffs or debuffs. This is assuming the gold is pure 24K , if the gold is super low quality, ill use 9K gold as an example, 3 gold ingots or 1 emerald is worth about $158,961,341.59

[@embeboso8329]

The player selling the villager's carrots back to them: This is where the fun begins The villager getting the carrots without labor: In case you haven't noticed, you've fallen right into my trap

[@theflyingwhale5778]

But the Villager pay for our services..

[@lowkeyidiot4134]

@@theflyingwhale5778 But with things that are basically worthless to them

[@electricpepperoni4789]

@@lowkeyidiot4134 OHHH

[@lasercraft32]

The funny part is, you can make afk carrot farms where the villagers farm them for you, using minecart hoppers and stuff... then you can trade them their own carrots back to them ;3

[@spentclankanimates]

Villager: Hoh hun hah hun hah hon hoon (Here is your carrots) Steve: Okay I will give you some emeralds *gives emeralds* Steve: What other trades do you have? Villager: Hoh hanhoon han hon han han hon! (You could trade those carrots for a stick!) Steve: 😑

[@Gnerf]

Me: finds 11 emeralds that took days to find Villager: The best I can do is 2 dirt blocks

[@monhunterz5430]

What villager sells dirt blocks?

[@lordofshades9852]

@@monhunterz5430 pre villager update

[@letmeeducateyou2127]

Gnerf 3. Take it or leave it.

[@Gnerf]

@@letmeeducateyou2127 lol

[@neokolder472]

Would be cool to see some Terraria theories. Even with well known lore there are a lot of things that can be theorized

[@inotna5237]

The thing I love about game theory’s intro is that it isn’t cringy

[@mrcoler8113]

16 Minute Video: Came our 4 minutes ago Commenters: GREAT VIDEO

[@solitudesoul8829]

Out*

[@unattributed1641]

Actually, I think MatPat missed something big in this theory: WHY are Emeralds a thing of value to Villagers? It seems really strange because emeralds don't fit within their economic system which is really non-monetary... More like a barter system. So why do Emeralds have any value?

[@brandon4801]

it's a form of currency. why is $1000 worth so much if it's technically just a bunch of paper? because it's our form of currency

[@patrishakeepittogetherswee5881]

@@brandon4801 but... why?

[@EdgySniper497]

@@brandon4801 I think he's referring to why emeralds in the first place, it's inefficient, with emeralds being a rare resource, as opposed to something like paper

[@GaminGuy_]

Unattributed no the *real* question is how villagers get the emeralds in the first place

[@Raven1024]

He didn't miss it, did you ignore the whole section about shells?

[@penitamani6794]

Matpat : everything is done by hand Me : looking at redstones

[@Rune.the.therian]

I gotta say, this is a very interesting episode. I have wondered, if I came to a pawn shop with a real minecraft emerald, what is it worth?

[@Cartoonicus]

The rest of the world on Feb 1st: "FOOOOOOTBAAAAAAALL!!!!!!" Matpat: I wonder what the conversion rate is from emeralds to carrots.

[@bingbong357]

The US isn't the whole world. At least it wasn't when I last checked.

[@blue_elite964]

@@bingbong357 yeah, it became that yesterday, i understand your confusion. The US became he entire world yesterday.

[@khi-]

@jeffthedoggo ppl can't make jokes?

[@mattew5814]

Stephanie: where's Ollie? MatPat: I was a businessman, doing business

[@nanochad2979]

lol

[@lizardthedragon]

That profile just says it all, man.

[@TheUnderscore_]

@@lizardthedragon It's pure beauty.

[@darckense1]

Yeah, this is big stonks time

[@CheesBoi]

Bus i ness man

[@GTDzak]

I find it funny how after all this in 15 minutes and five seconds, he didn’t ever actually accomplish anything. He didn’t really find out the value of a emerald in Minecraft.

[@petercarioscia9189]

I know I'm late on this, but you're using the price of mass produced printer paper. Actually vellum, hand crafted artistical paper; small batch, high quality paper can range in price from a few dollars to $30 a sheet. Or more.

[@hydrogenbomber3267]

One simple answer: Inflation Have you noticed how emeralds became even rarer than diamonds? Yes, you heard it right. Those Villagers have mined so much emeralds, so much that there are barely any left in this world. Since they had so many emeralds in hand, emeralds eventually became worthless to them. Try and trade with a villager for 1 day, or 1 week, or 1 month; the villager can keep restocking but they can never run out of emeralds. Since Villagers can't build anything fancy or shiny with those emeralds, they don't even bother crafting emerald blocks anymore. All those emeralds lying in their storage are basically useless.

[@skullchords]

No one can just deflect the emerald splash

[@FuntimeLetsPlays]

That is actually a very great theory

[@serenityordonez7990]

13:47 Villager:*Slips under the door* *SNEAK 100*

[@LeoMarciana]

*mission impossible theme starts playing*

[@EHc0325]

*Flat Stanley has entered the chat*

[@hamz5791]

13:46*

[@agentbowlingball6993]

Sorry stole your comment, my bad.

[@jasonlan7475]

I guess the real value of the emerald is the friends we made along the way

[@felixgeorgescu2230]

Things I learned today about the US: A bread costs 3$ (in Romania it's just 0,33$) and Mega Image is called Food Lion in the US (apparently Romania is the only country where Food Lion is called Mega Image)