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

[Jon A. Lambert]

"Dana V. Baldwin" wrote:

> 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.

We may already have game currency being used and accepted as real
currency.  In many states, lottery tickets and betting claim checks
are legal tender and accepted by banks and merchants.

Okay, I admit it's a stretch.  ;-)

Though it does show that if a game currency is linked to a real
currency and backed by sufficient promise, it could become legal
tender.  I'm not even sure linking it to a real currency is even
necessary though helpful.  It's more the perception of a valid
promise (a liquid promise).  And I don't think that threshold could
ever occur unless many different game companies accepted each others
"gold pieces".

I do agree that most transactions today use currency that is indeed
for most purposes virtual, backed by nothing more than promises on
imprinted on paper or magnetic bits; and not in fact backed by
anything real one could hold in hand.
_______________________________________________
MUD-Dev mailing list
MUD-Dev at kanga.nu
https://www.kanga.nu/lists/listinfo/mud-dev