[Opensim-users] Opensim-users Digest, Vol 51, Issue 3

[Slavin, Simon]

On 3 Nov 2011, at 10:55pm, Cider Jack wrote:

> Bitcoin (or a similar system) would be ideal for OpenSim, IMO. The
> need for a "universal" virtual currency for use among virtual worlds
> is real.

Is there an economist in the house ?

If you did that, anyone running a server would have to buy Credits from a central bank.  Using real money.  Otherwise anyone who wanted could just set up their own server, generate a few million Credits, and use them elsewhere.  This would inflate prices for everyone using the currency.

It makes a lot of sense for servers run by one organisation to share a currency.  But as soon as you have a bunch of people with different policies and preferences trying to share one currency you'll have to develop the equivalent of the G8 or G20 groups.  And I'll predict that a taxation system will appear as if by magic.  In other words, if you attempt to keep the existing banks and financial coordination system out of your group of VRs, you'll end up inventing your own things which will have the same result.

Obligatory disclaimer: I'm not a real economist, I just play one in VRs.

Simon.