View Poll Results: Could virtual currencies pose an economic danger?

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  • Yes

    2 28.57%
  • No

    5 71.43%
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Thread: Could virtual currencies pose an economic danger?

  1. #11
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    Dec 2009
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    04-01-13 @ 02:46 PM
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    Re: Could virtual currencies pose an economic danger?

    This has been covered by south park.

    The Promise of Future Revenue - Clips - South Park Studios

  2. #12
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    Zyphlin's Avatar
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    Jul 2005
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    Re: Could virtual currencies pose an economic danger?

    I imagine that if you get to a point where these virtual currencies exist and are allowed to be second hand by users that it could possibly cause some tricky economic situations and possibly the need for a re-examining of a lot of situations and laws surrounding them. For example, imagine if there's a loophole where tax is not applied to buying virtual currencies, thus allowing you to bypass taxes completely by buying the currencies and then purchasing items with the currencies which is not under the umbrella of the federal government and not taxed?

    However, I imagine virtual currencies will continue on as most of them are now, making it a violation of rules and regulations or terms of service to get and then resell them. Take gold selling in WOW, by far the most played Massively Multiplayer Platform out there. While it is a relatively large industry, spanning numerous websites and even ebay, it is still a relatively niche thing in terms of the amount of people that do it. Its against the user agreement to do so in WOW, leading to banned accounts. This inherently tends to cause the practice of selling it to be left to those typically of rather unscrupulus means, always looking for a leg up, which generates the negative reputation for gold farmers of typically using your information provided to get the gold to simply work at hacking you to steal yours to resell it. Overall, the rules and the situation surrounding it makes it a relatively small market.

    I imagine facebook will want to keep tight hold of their credits and the ability to pass credits to other people or especially sell credits second hand.
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