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Those of you who are rejoicing at China's apparent ban of MMO gold farming, you can stop celebrating. According to Professor Richard Heeks, China hasn't banned gold farming, just the use of monetary scrip. According to Heeks: This is a government restriction on the use of the quasi-Paypal-like currencies (mainly QQ coins) ...
Yesterday the internet was filled with the news China had banned gold farming. Just in case you live under a rock and don’t know what gold farming is, it’s the gathering of virtual currency in a game (usually an MMO), which is them sold to other players in exchange for real currency.According to an article at InformationWeek, “the Chinese government has declared that virtual currency cannot be traded for real goods or services.”Obviously, this was enormous news. Since it’s been estimated that
Billionaire investor George Soros thinks the worst of the global financial crisis is behind us. In a June 20 interview with Polish television, the Hungarian-born Soros acknowledged that this has been the most serious crisis he’s seen in his lifetime, but said, “Definitely, the worst is behind us.”For those that like to interpret “Soros-speak,” that’s as powerful a sign as any that one of the world’s most successful investors is “going long.”But is he wrong?On one hand, the World Bank is
Flashback: Royal Canadian Mint’s ‘lost’ gold worth a mint | Bullion and Bandits: The Improbable Rise and Fall of E-Gold | Has the Mint’s gold vanished? | Bank crisis spawns new kind of gold rush | Gold Tops $1,000, First Time Since March as Recession Deepens | Manipulation Of Gold And Silver Prices Further Exposed | Analysts Predict Hyper-Inflation To Push Gold To $2000, Oil to $300 | Ottawa warns on gold-backed Web trades Campbell Clark, The Globe and Mail June 29, 2009
Market Rallies With 'Risk On' U.S. Dollar Trading (USD) a bounce in US stocks as investors snapped up those beaten down last week. Commodities and risk currencies rallied hurting the USD. With a major data week ahead, the market will ...
The Chinese government stepped up and decided to ban all World of Warcraft gold farming and all other MMORPGs that has a currency exchange. Even the developers themselves are not permitted to exchange ingame assets for real goods and services. The Ministry of Commerce issued a press release yesterday stating: “The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goo
The web is abuzz. The Chinese Government has banned gold farming . well, perhaps not. The Chinese government has been very concerned about virtual currencies as a threat to its real currency because of the rise of QQ-coins / Q-coins in Tencent 's QQ service (a topic I covered back in late 2006). If you read the actual news from the government, the focus is on QQ-coins. Cui Ran, an expert on the Chinese online industry, said the regulation aimed to "nip illegal online activities
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Cash earned in games in China can no longer be spent on real world goods.The Chinese Ministry of Commerce policy aims to limit the impact of game currencies on real-world markets. In the future, any cash earned by Chinese gamers can only be spent to acquire items or equipment in that particular game. The move is widely seen as a crackdown on so-called "gold farming" in which players amass virtual money and then sell it to other players for real cash. Virtual tradeExact figures for virtual curren
LONDON, June 30 - Laird Plc: Like-for-like Q2 revenues are expected to be slightly lower than those in the first quarter First half revenues are expected to be down 35 percent on constant currencies When reported in sterling, the year-on ...