[Opensim-users] Virtual World Currency gets more complicated

[Karen Palen]

My favourite quote from him is that the US Tax code is a high stakes game played with a 500,000 page rulebook! He delights in finding sets of rules in one place that contradict others and using the result to save his clients tax money.

Many of his clients pay ZERO income tax BTW.

Karen

--- On Tue, 1/19/10, Jane Foxclaw <janefoxclaw at gmail.com> wrote:

> From: Jane Foxclaw <janefoxclaw at gmail.com>
> Subject: Re: [Opensim-users] Virtual World Currency gets more complicated
> To: opensim-users at lists.berlios.de
> Date: Tuesday, January 19, 2010, 8:36 PM
> He and I would get along then. I'm the
> same way. I speak my mind, even though some say I have a
> HUGE ego, which i do for a reason..  but I do admit it..
> lol
> I would surely run my Grid as a Non-profit if it
> came down to it. It really depends on the situation.
> 
> John
> 
> On Tue, Jan 19, 2010 at 9:27 PM,
> Karen Palen <karen_palen at yahoo.com>
> wrote:
> 
> Actually that (and the other things I outlined in my
> earlier email) is one reason I NEVER intend to run my grid
> "for profit".
> 
> 
> 
> If you ever plan to run a grid "for profit", do
> look at the rest of John Hyre's website though. He has a
> lot for good material and IMHO the right attitude about
> taxes. His tax law business is oriented to real world real
> estate, but many of the concepts carry over to the
> "virtual real estate" which is the only actual
> "product" sold by Second Life and most OpenSim
> grids that I have seen.
> 
> 
> 
> 
> BTW he would call you a wimp for "knuckling
> under" and not beating the government (IRS in this
> case) at their own game. He is nothing if not outspoken :-)
> 
> 
> 
> Karen
> 
> --- On Tue, 1/19/10, Jane Foxclaw <janefoxclaw at gmail.com>
> wrote:
> 
> 
> 
> > From: Jane Foxclaw <janefoxclaw at gmail.com>
> 
> > Subject: Re: [Opensim-users] Virtual
> World Currency gets more complicated
> 
> > To: opensim-users at lists.berlios.de
> 
> > Date: Tuesday, January 19, 2010, 6:18 PM
> 
> > If it happens it
> happens.. I'll just
> 
> > stop messing with Virtual Sims at that point. No point
> in
> 
> > giving money away to government. Make them earn it
> like they
> 
> > never have in the past.
> 
> >
> 
> > On Tue, Jan 19, 2010 at 7:09 PM,
> 
> > lamont cranston <l.cranston at gmail.com>
> 
> > wrote:
> 
> >
> 
> > if the
> 
> > currency is real, then you need to be cautious.
> 
> > The tax man is watching.
> 
> >
> 
> >
> 
> > On Tue, Jan 19, 2010 at 5:32 PM,
> 
> > Jane Foxclaw <janefoxclaw at gmail.com>
> 
> > wrote:
> 
> >
> 
> > Ok so your point here is that we
> 
> > should NOT go live with currency ? because I am lost
> as to
> 
> > what the point it is your trying to make here.
> 
> >
> 
> >
> 
> > Sonya
> 
> >
> 
> > On Tue, Jan 19, 2010 at 4:14 PM,
> 
> > Karen Palen <karen_palen at yahoo.com>
> 
> > wrote:
> 
> >
> 
> >
> 
> >
> 
> > This is from today's slashdot.org
> 
> >
> 
> >
> 
> >
> 
> >
> 
> > I know many OpenSim users are planning to set up soem
> form
> 
> > of currency exchange on their grids. THis si one of
> the
> 
> > aspects that needs to be considered before
> "going
> 
> > live".
> 
> >
> 
> >
> 
> >
> 
> > Karen
> 
> >
> 
> >
> 
> >
> 
> > http://games.slashdot.org/story/10/01/19/1653240/Virtual-Currency-Becomes-Real-In-South-Korea
> 
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >  Virtual Currency Becomes Real In South Korea on
> Tuesday
> 
> > January 19, @01:29PM
> 
> >
> 
> > Posted by Soulskill on Tuesday January 19, @01:29PM
> 
> >
> 
> > from the license-to-print-money dept.
> 
> >
> 
> > money
> 
> >
> 
> > garylian writes "Massively is reporting that the
> South
> 
> > Korean Supreme Court has stated that virtual currency
> is the
> 
> > equivalent of real-world money. For those of you who
> might
> 
> > not be drawing the link, the core there is that
> selling
> 
> > in-game currency for real money is essentially just
> an
> 
> > exchange of currency and perfectly legal in South
> Korea.
> 
> > This could have sweeping implications for RMT
> operations the
> 
> > world over, not to mention free-to-play games and...
> well,
> 
> > online games in general. The official story is
> available
> 
> > online from JoongAng Daily."
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> > _______________________________________________
> 
> >
> 
> > Opensim-users mailing list
> 
> >
> 
> > Opensim-users at lists.berlios.de
> 
> >
> 
> > https://lists.berlios.de/mailman/listinfo/opensim-users
> 
> >
> 
> >
> 
> >
> 
> >
> 
> > _______________________________________________
> 
> >
> 
> > Opensim-users mailing list
> 
> >
> 
> > Opensim-users at lists.berlios.de
> 
> >
> 
> > https://lists.berlios.de/mailman/listinfo/opensim-users
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> > --
> 
> > (\__/)
> 
> > (='.'=)
> 
> > (")_(")
> 
> >
> 
> >
> 
> > _______________________________________________
> 
> >
> 
> > Opensim-users mailing list
> 
> >
> 
> > Opensim-users at lists.berlios.de
> 
> >
> 
> > https://lists.berlios.de/mailman/listinfo/opensim-users
> 
> >
> 
> >
> 
> >
> 
> >
> 
> >
> 
> > -----Inline Attachment Follows-----
> 
> >
> 
> > _______________________________________________
> 
> > Opensim-users mailing list
> 
> > Opensim-users at lists.berlios.de
> 
> > https://lists.berlios.de/mailman/listinfo/opensim-users
> 
> >
> 
> 
> 
> 
> 
> 
> 
> _______________________________________________
> 
> Opensim-users mailing list
> 
> Opensim-users at lists.berlios.de
> 
> https://lists.berlios.de/mailman/listinfo/opensim-users
> 
> 
> 
> 
> -----Inline Attachment Follows-----
> 
> _______________________________________________
> Opensim-users mailing list
> Opensim-users at lists.berlios.de
> https://lists.berlios.de/mailman/listinfo/opensim-users
>