[MUD-Dev] [NEWS] Gaming Open Market

[Matt Mihaly]

From: Peter Keeler

> I'm less interested in opinions about the morality or
> profitability of trading virtual goods as I am in the health of
> the actual market. This seems to be a sign of just how fragile the
> marketplaces actually is, where a seemingly growing site can be
> nearly eliminated in a single day. Will sites like GOM continue or
> is that paradigm doomed? Will there ever be a site that allows
> free trade of virtual currencies rather than requiring a trade to
> a real currency first, or is that far too risky?

Seemingly growing site? Maybe they were growing, but they said that
$3000 wiped out almost all their profits since January. They weren't
exactly big players.

This has nothing to do with the actual market and everything to do
with the fact that they ignored an obvious, huge risk and had no
plan to mitigate that risk. It also really involves Paypal only by
coincidence.  Their fate would have been the same using a normal
merchant account.

--matt
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