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Interesting Article

Discussion in 'Off Topic' started by Blacksheep001, Jan 26, 2010.

  1. Mairut

    Mairut Guest

    So if I'm a developer for a game in Korea that is allowed to do this, and I create 10billion in gold (similar to duping I suppose) and then sell it for RL cash, is it still legal?

    Does UO have a shard in Korea (or one where more Koreans play, similar to our European shards)?

    Can I sell them my UO gold and get won, and then convert it into USD? Lol...jk...people already do that without having to convert currencies.

    How will this effect the global economy? Cause I know in UO you basically have a never-ending supply of gold by killing monsters... I guess it will depend on how much real money one has to buy the game currencies with.

    Very interesting, indeed.
  2. Silverbird

    Silverbird Slightly Crazed
    Stratics Veteran Stratics Legend

    Nov 3, 2001
    Likes Received:
    Funny thing ... even if I dont understand much of that article. (Maybe my english is not good enough, or I lack the sense behind or maybe even both ...)
    If any country puts a convertion rating for any ingame currency to their real currency to put for example taxes onto ingame-income, they should expect of getting paid ingame. :D If you develop this idea further, that state would come into situations, where ppl want to pay other bills (like parking tickets) with ingame currency.
  3. Evlar

    Evlar Guest

    ...there's always a catch isn't there! ;)
  4. the 4th man

    the 4th man Lore Master
    Stratics Veteran Stratics Legend

    Jul 31, 2005
    Likes Received:
    They don't say what the conversion rate is either, from game to real life....there's no way in hell 1 gp will represent 1 greenback.

    1 cent?? I dunno.......governemnts are always hard up for cash.....another aspect.....say you got 25 billion in game and get hacked, is that now a "real" crime to be investigated by detectives?

    I think this debate within the US will take 5x longer than the healthcare sham.
  5. NuSair

    NuSair Crazed Zealot
    Stratics Veteran

    May 21, 2008
    Likes Received:
    There is the reason right there... taxes.
  6. Basara

    Basara UO Forum Moderator
    Moderator Professional Governor Stratics Veteran Wiki Moderator Stratics Legend Campaign Supporter

    Jul 16, 2003
    Likes Received:
    Several of them, in fact. What are commonly referred to on Stratics as "The Asian Shards" consists of several in Japan, several in South Korea, and several in Taiwan.
  7. Mairut

    Mairut Guest

    Aah ok, thanks for clearing that up. I wasn't sure what countries those shards would be located in.
    Good info to know, especially since I like to go and look at house deco on those shards :thumbsup:
  8. passingthru

    passingthru Guest

    "If any country puts a conversion rating for any in game currency to their real currency to put for example taxes onto in game-in come, they should expect of getting paid ... in game currency."

    From which that government would have to turn it into real money some how. As in the USA Civil War debts to the confederacy were legally due in confederate money. In other words useless paper. Up to the point you convert it into real money by selling it for legally negotiable 'instruments' or tangible property.

    Any actual fines of real money from the profit of selling in game loot would likely be enforced as taxes or prosecuted under wire fraud in the United States (meaning anything having to do with transmission of voice, data or whatever via electronic means.) There are many laws for that. But a few years ago a UO virtual house sold online for a few hundred dollars. It was the first time publicly noted by real estate agencies. That would be officially counted as income from "other sources" on a tax return.

    The value of virtual gold is in the eye of the beholder, like any service. If you pay tax on the actual income you get (that is to say a kickback to the government) they don't much care what you do.

    If the rules of the internet provider from whom you derive the money are not violated you are in the clear. If you broke the game providers rules however, you committed fraud, and the service provider is technically able to sue you for your income from the service they provided, depending on a bunch of things.

    It has been demonstrated often that earning the gold (or anything else) in the game, from your non-cheating work, and selling it in the real world is perfectly acceptable. The "Gaia On Line" game company exists it seems, solely to type into existence virtual GAIA money and sell it to kids at almost pure profit as a real business venture. The virtual stuff you buy there doesn't even do anything. It's just stylish pixels. In their case, it is the game company itself raking in the real cash, for game gold, and they don't even have to run cheat software to get it. They just type how much they want to sell.