Virtual/Real Currencies (was: RE: [MUD-Dev] [NEWS]GamingOpenMarket)

[Dana V. Baldwin]

From: Freeman, Jeff
> From: Peter Keeler

>> Will we ever see a virtual currency in the "real" currency
>> exchange, perhaps?

> The answer is that no, we will never see such a thing.

> The reason that this is the answer is because then it wouldn't be
> virtual currency, it would be real currency, and no one is going
> to make a new, real-world currency, just to buy and sell stuff in
> games.  They'll use a current, existing, real-world currency for
> that.  If you want to use real money in-game, just use real money
> in-game.  The kind of money your employer or customers give you,
> is the kind of thing people expect to receive from you, when they
> want whatever it is that your tribe calls "money".

Thanks Jeff. I apologize for not making myself more clear. I was
attempting to point out the conundrum of "real" currency versus
virtual currency. I can agree that it is unlikely that EQgold will
be a traded currency on a formal exchange though I'd be reticent to
say "no". My reasoning is that by definition, all currency is
virtual in a sense. Some currency is backed by a state based
governing body but not all is. Many trade associations exist, mostly
among small service businesses, that have their own currency. These
types of currencies generally do not have value to a large enough
group to warrant any formal notice. That could however change in the
information market. It is not inconceivable to me that a currency
could develop that was non nationalistic that could indeed be traded
across nation boundaries. Let's call it a VisaBuck or a
PayPalPoint. Both of these companies offer a currency trade that is
cross national. I can easily pay with my Visa in your country but I
pay with my currency. That a community, diverse enough to be of
global standing, could, given time, I believe, establish a widely
accepted and recognized currency for trade. "Real" money, as you
point out, is only defined by who thinks it's "real". Circular
maybe, but a currency might not always be required to be backed by a
nation for the global tribe to accept it.
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