Virtual Currency Speculators
from the real-greed dept
There are plenty of stories about online gamers selling virtual currency, virtual goods, or even virtual characters on eBay. However, some folks felt that the method wasn't too efficient and are now gravitating towards a virtual currency market that will facilitate transactions converting virtual currency into U.S. dollars (and vice versa, obviously). There are some very amusing Wall Street Wannabe quotes from one of the virtual currency speculators: "What I love the most, and the idea that gives me chills, is that I am buying nothing, and then selling nothing, for a profit." If you have any sense of history, that sounds like a quote someone says before a bubble market collapses. Of course, there are questions about how long this operation will last once the game companies find out about it. While Linden Labs has made it clear they support these types of things, the bigger companies have fought back against people trying to sell their virtual property. There are also some serious questions about just how valuable virtual currency really is. It certainly is highly speculative, though, I doubt very much money is going into it these days. Now, when do we see more complex financial instruments involving virtual currency?
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All currency is virtual
All our currency could be thought of as 'virtual'. We haven't been on the gold standard for some time, and our money has no intrinsic value. What gives it value is that others are willing to accept it for goods and services.
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Re: All currency is virtual
This is a news tip concerning gaming industry. An independent and non-proft research report: MMORPGs(Massively Multiplayer Online Role-Playing Games) Virtual Currency Price Trend Charts:First Half 2005 Game Money Research
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