This video details the dramatic rise and fall of "Stonks," a virtual currency in the Hypixel Skyblock game. The speaker chronicles the events leading to its massive price increase, followed by a significant crash due to a game update. The video uses this event to explore concepts of market manipulation, supply and demand, and the resulting player reactions.
wow I'm so pumped I followed that tip toist all of my savings into these Stone kems I mean there's no way this can go wrong the is going to keep climbing in price all the way to the Moon I'm going to make so much money from this actually let me go check the bus right now and see how much money I've made wait what do you mean these aren't worth anything I spent 20 million on these each they can't be useless surely I mean what do you mean what are you talking but new patch notes F I guess I'll have to check them out let's let me check the stonk of stun items are now useless sucks to suck looser what no this will be terrible for the economy no this is basically what went down a month ago in Sky Block if you haven't been living under a rock then you've probably heard about it but I'll go through exactly what happened with live reactions from the Hypixel forums and the Hypixel Sky Block subreddit because that's where the most sane Sky blow players hang out obviously spoiler alert it's going to be really funny so how did this all start well we'll have to go back all the way to March 2020 to figure this one out yeah you see the world was in the middle of this thing you know this funny thing called the pandemic so yeah s trolling was happening people were stressing out over toilet paper shortages but the Sky Block players they were just chilling and they were in for a treat because on March 10th 2020 a new update was dropped introduced the basar you know the feature that lets you buy tons of items with just a click it also adds tons of scummy real life economy practices like Market manipulation insider trading inflation you know all that fun stuff and what else is a more real life economy thing to happen than to make your very own cryptocurrency in the game this is the update when the stock of stonks were added to the game and if we reading the description it clearly says that it's a risky investment test item that may get deleted these were only available on the first day of the update as a testing item for 200 coins per ston after that there would be no more Supply at least not that the initial buyers knew of from the get-go it was pretty obvious to anyone with half a brain which you know removes like half the Sky Block population that it was a highrisk and high reward kind of situation so when a battle with 3 years later they decided to make something useful out of these items no one would be sad surprised or you know angry about it right I mean it says right here that it's a test item are you sure about that yeah we'll get into that in a bit but first we should talk about the stons themselves they really did turn out to be a high reward deal and not nearly as risky as everyone thought sure it was a bit volatile and you know the price fluctuated a bit but check out this graph the price did pretty consistent around 20 to 60 ,000 coins until like February 2021 and that's a big jump from the initial 200 coins that they cost but then in February it slowly started Rising a ston was worth 100,000 in February 200,000 in August and a whooping 800,000 in October and from October it held steady until like 2022 where it actually hit a million per ston in November after that it soared all the way to 7 million by March the following year and it finally peaked in February 2024 at almost 35 million that is insane now this sounds perfect right you just just don't mind the inflation and you know the items not actually being worth anything and having no use the price did pretty consistent around yeah between 30 and 20 million until June this year June the 3D it was a pretty usual day you know I was working you know typical stuff that I do and then when I got home I saw a new Forum post talking about an update Maybe I thought maybe you know it's a foraging update but it was not it was an update to all Mayors basically it added a lot of cool stuff like the new Minister perks that you may have seen it reworked some of the lackluster Mayors like Foxy but the most important part that I will be highlighting in this video is the changes to Diaz Diaz before this rework was easily the worst of the mayor candidates basically the neglected child of the mayor family I don't actually think I'd ever seen D elected before and I've played for a few years and that that us goes to show you how bad the perks were I guess if you think that 10 times more B limit is good you know so you can go buy your ice and sell it on the bazaar for a minuscule profit or maybe you like the higher interest sure that's really good more money a day you know so much better truly on par with the other Mayors you know like the guy that gives you more dungeon stuff the mayors that add events or the mayor that makes that gives you more Slayer XP surely this is on par either way Hypixel decided a good way to rework DS was to make her host a stons auction where you bid with your hard-earned money to get a differing amount of stons the top 100 bidders they get 25 stons each and these auctions happen every 10 hours so you know during a mayoral term it's going to be a lot of stons in circulation and they also added an actual use for them you know as a currency for new items as something you use with other items like accessories to upgrade them but that's not what's interesting what is interesting is that surprisingly 97.5% of you guys aren't subscribed I've got some awesome stuff lined up for you and trust me you don't want to miss out on it so hit that subscribe button so you can stay in touch I mean if you regret it later you can always undo it no but really the interesting thing is that Hypixel added a way for the new stalks to be made which according to the supply and demand model means that as Supply increases you know as more Stones get into circulation when demand is high it will lower so the price will go down to equilibrium and you know equilibrium is good because that's you know a fair price but when the supply steadily increases and demand doesn't that actually you know that can be pretty bad because that means the price will go go it will instead of going to the Moon we go down into the marinara trench and you know if you own a lot of stalks that's really bad for you because you lose a lot of money and I mean the songs they won't become worthless per se but they'll be a far cry from the 35 million that they peaked at before and naturally once this started getting a little spread both on the forums and like in game Panic complete and utter chaos all over the game people started Panic selling all of the stonks that they owned you know what that does when a price is initially falling and people you sell well that's that's not good so the prices they went down from around a stable 20 million a piece to First 1 but then once it was implemented you know now in July they're down at 4 million and this is bad I mean for a lot of rich people in the game because they you know they can't put all their money in the bank so a lot of them feel like you know instead of just having the money and inflation make my money worth less I'm going to invest it in stons which always rise in price so when all of these rich people have a lot of their net worth in stons and the price tanks it's taking a big Shunk of the money that circulat in the economy out this could actually help reduce the inflation in the game which is a win for everyone because you know inflation's not very good the thing is it's just going to sting a bit for all those people who had a lot of stons and lost all of it overnight my opinion my firm belief is that the STS they're going to rise a bit but since this happened it's not going to be something huge again it's not going to soar to 40 million is what I think at least but if you're on the copium and believe that then all the more power to you guys you're you're free to do whatever you want as long as it's not illegal let let's let's actually look at some of the actual reactions that people did on the subreddit and the forums around this because it's really funny and this given birth to some pretty funny copy pastas could we not do this the point of the stock of stonks is that they are useless and unobtainable they used to be like Bitcoins now they are trash can you just make a new item to replace the New Uses of the stock of stons instead of making them useful even this this what am I reading I'm cooked done for I've lost billions what an absolute wonder that I Got A Life Lesson from a video game like Minecraft I sincerely hope whoever suggested or implemented this update May both sides of your pillow be warm people losing billions over this reading these things it kind of makes you feel like the Joker in a way you know the video it's not about money I'm lost 4 billion in a day me I I don't know man it is really funny to me to watch people be salty over losing video game money for an item whose sole purpose was being a test they literally said it you signed up you you signed for it then you got to pay the price I'm just glad they gave the item an actual use I'm glad they kind of fixed the economy by doing it too because I mean the inflation is pretty much it's a lot better now some people say that Hypixel ruined the economy around this but I'm not really of that opinion I think it kind of ruined the economy for a lot of people you know people that actually kept their money in the stons which they shouldn't have because that's F risky in the first place but I also think it's good you know either way I hope you enjoy this quick recap of what's been happening in Sky Block over these last few weeks I'm pretty sure I'm the only YouTuber who's made a video on this totally if you enjoyed this video and the timeline of the rise and fall of St of the stock of stons then please show your support by liking the video and subscribing if if you're not already subscribed your support means a lot to me stay tuned and I'll see you around for the next video you don't want to miss it bye [Music]
