[Opensim-users] money

[lamont cranston]

Play money or real money?
I would suggest that there is no distinction to be made; any multigrid
currency needs to have general acceptance, and, as a result will become a
real currency, since someone will create a money exchange. An example of
this in an MMORPG are the gold farmers of WoW.

Since there is a real world exchange rate between USD and WoW Gold, there is
a calculable tax liability for purchases. (I am not aware of anyone actually
paying income tax on their WoW gold, but the legal point is pretty clear.)
My point is just that *any* multiworld payment system, and potentially any
single world payment system will have the tax liability issue.

This mean that all transactions are "merely" micropayment transactions, and
there have been attempts at that before.
The choices appear to be which central bank to use or using a distributed
system.

An off grid central bank has to validate transactions on their currency
schemes and the sim operator has to be vetted;
"VirWoX has to confirm that the grid is run by a reputable operator and is
safe."
Another problem is that the central bank wants to get paid
https://www.paypal.com/cgi-bin/webscr?cmd=_display-fees-outside

A different scheme that has a certain attraction is bitcoin,
http://www.bitcoin.org/
It has no central bank, or transaction fees. The users deal directly with
each other.It seems to be a good fit.

I'm interested in hearing people who disagree with the idea...
What shortcomings do you see with bitcoin?



On Fri, Feb 25, 2011 at 10:41 PM, paul emery <pablo at lansing.com> wrote:

> Check out these links.
> http://opensimulator.org/wiki/Money
>
> http://www.hypergridbusiness.com/2010/03/in-world-payments-come-to-opensim-grids/
>
>
> --
> View this message in context:
> http://opensim-users.2152040.n2.nabble.com/money-tp6066566p6066836.html
> Sent from the opensim-users mailing list archive at Nabble.com.
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