It does indeed ban gold-farming. Only the company will be able to sell virtual currency(edited this part as it looks like you can still sell items)... "legally". I seriously doubt this will even make a dent in gold sales, though.
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
However, this is not a massive dent in the RMT industry. It is a massive dent to the Chinese economy (although when you have an economy like that, you don't really need to worry about a few dents here and there). The RMT industry will simply move their operations to other countries that will benefit more from the industry, the Philipines being a good example.
I wonder which nation will take over if this effectivly stops the Chinese, there will be a gap in the market.
I used to visit this site a lot however in recent years it has become the home of negative forum posts, illogical opinions and tantrums so I visit less often.
Played or Beta'd: UO / DAOC / Horizons / EQ2 / DDO / EVE / Archlord / PirateKingsOnline / Tabula Rasa / LOTRO / AOC / Champions / Darkfall / Mortal Online / DCUO / Rift / STO / SWTOR / TSW
I wonder which nation will take over if this effectivly stops the Chinese, there will be a gap in the market.
It's more than likely that they will move to countries like the Philipines. The reason why China was so popular (but by no means that only country in use) with RMT companies was simply because of the cheap labour and low rental prices on buildings. In Phil, labour is not nearly as cheap but building rental is on the same level, so it makes sense for them to move there.
There are other countries of course that may well see more of an influx of RMT companies. The Internet uptake in African countries is gaining speed, so we may see some companies moving their, although the lack of political stability in the region will put them off. Middle East is an option as well.
Unfortunately I don't see this making a very big impact on the plague until the game companys come up with a way to stop the practice in game. it may slow it down for a little while, but does nothing to stop it completely. I would love to see a game where you don't get spammed in /tell or mail every 5 seconds to by gold or for power leveling services. This is why WoW is the most hacked MMO in existance, because of the keyloggers and other progams hidden in these so called "services".
"I'm a Alpha male on Beta blockers"-The Immortal George Carlin
RIP Ronnie James Dio 2010(The greatest Voice in Rock)
You won't see many in Africa due to the poor infrastructure,the next couple of years you will see world wide crack downs in all areas of the internet including massive new UN anti piracy laws,it's sad even the wild west eventually was tamed,so it will be with the internet.
And alot of people say that this will have little impact have no idea what they are talking about,this effects any Chinese entrepreneur if you think the Chinese government is not going to mind if one of their citizens attempts to circumvent law by setting up shop in a sympathetic country then my friends you don't know the Chinese government.
You won't see many in Africa due to the poor infrastructure,the next couple of years you will see world wide crack downs in all areas of the internet including massive new UN anti piracy laws,it's sad even the wild west eventually was tamed,so it will be with the internet. And alot of people say that this will have little impact have no idea what they are talking about,this effects any Chinese entrepreneur if you think the Chinese government is not going to mind if one of their citizens attempts to circumvent law by setting up shop in a sympathetic country then my friends you don't know the Chinese government.
I would retort with the idea that you don't know what you are talking about.
The majority of the companies that operate from China and pile the most amount of money and infrastructure into the Chinese and the "workhouses" of farmers are not Chinese companies :-) Pretty much all of the are US or EU companies ;-) Go do some reading ;-) The Chinese may work for these companies... but that is where it ends. Those are the driving forces behind this industry ;-) I know this because as a Journalist I had to do a large amount of research into the topic ;-)
It does indeed ban gold-farming. Only the company will be able to sell virtual currency(edited this part as it looks like you can still sell items)... "legally". I seriously doubt this will even make a dent in gold sales, though.
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
____________________________________________ im to lazy too use grammar or punctuation good
It does indeed ban gold-farming. Only the company will be able to sell virtual currency(edited this part as it looks like you can still sell items)... "legally". I seriously doubt this will even make a dent in gold sales, though.
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
It does indeed ban gold-farming. Only the company will be able to sell virtual currency(edited this part as it looks like you can still sell items)... "legally". I seriously doubt this will even make a dent in gold sales, though.
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
:facepalm: Your logic is failed. Real currency is not, by definition, "real goods and services".
If you don't get it, you don't get it. Read the whole article, and I'm talking about the government release, not the conjecture ridden BS pieces on the gaming sites. It's very clear that they contemplate the continued exchange of virtual currency for real currency, and they don't say a single word about gold farming or the sale of MMO gold for real money.
It does indeed ban gold-farming. Only the company will be able to sell virtual currency(edited this part as it looks like you can still sell items)... "legally". I seriously doubt this will even make a dent in gold sales, though.
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
:facepalm;
If you don't get it, you don't get it. Read the whole article, and I'm talking about the government release. It's very clear that they contemplate the continued exchange of virtual currency for real currency.
Interestingly, I'm talking about the Government release as well :-) Interestingly, they specifically highlight that RMT industry in their release. Interestingly, most of the focus is on the exchange of virtual currency for real money. Interesting, really... considering they, "aren't banning gold farming."
Also, go and do some research :-) Prices on a lot of sites have almost doubled since the article was released. Why would companies double their prices if they were not at risk? It does not make sense :-)
So yes... you should be slapping yourself in the face ;-)
Originally posted by Infalible Interestingly, I'm talking about the Government release as well :-) Interestingly, they specifically highlight that RMT industry in their release. Interestingly, most of the focus is on the exchange of virtual currency for real money. Interesting, really... considering they, "aren't banning gold farming." Also, go and do some research :-) Prices on a lot of sites have almost doubled since the article was released. Why would companies double their prices if they were not at risk? It does not make sense :-) So yes... you should be slapping yourself in the face ;-)
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
Originally posted by Infalible Interestingly, I'm talking about the Government release as well :-) Interestingly, they specifically highlight that RMT industry in their release. Interestingly, most of the focus is on the exchange of virtual currency for real money. Interesting, really... considering they, "aren't banning gold farming." Also, go and do some research :-) Prices on a lot of sites have almost doubled since the article was released. Why would companies double their prices if they were not at risk? It does not make sense :-) So yes... you should be slapping yourself in the face ;-)
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
So you quote an INTERPRETATION of the post by a professor and claim that to be the facts of the situation.
They are banning game cards too and include them in their text. Mind explaining that one? That's not virtual-to-virtual, that's a one-way real-to-virtual transaction -- no different than any other type of purchase for online services.
The government also spelled out the definition of "virtual currency" for the first time, which includes prepaid cards of cyber-games, according to a joint circular from the Ministry of Culture and the Ministry of Commerce Friday.
"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 goods and services." it said.
Now that seems a bit unclear. You can buy currency to use in the virtual world. You cannot convert virtual to real goods and services -- interpretation: You can't get 1,000pp in a game and buy a tee-shirt for that. But this doesn't cover the game cards aspect which doesn't do that. It is strictly a pre-paid access pass.
Since 2007, virtual money trading has drawn official attention, with the government demanding tighter controls as such trading became an avenue for gambling and illicit trade.
Under the new rules, using virtual money for gambling will be punished by public security authorities, and minors may not buy virtual money.
The Ministry of Culture also vowed to step up supervision on money laundering via virtual credits and other illegal online activities.
So their goal is to shut down money laundering and gambling style activities across the web that use virtual currency in the same fashion as casinos use chips at the tables but this would be up to the wording of the law. There's no way of telling without reading Chinese how "fuzzy" the scope is or how exacting. This is a press release of what they did.
But *THINK* about this a minute... They're including game cards in the mix. A game card is nothing more than pre-paid access to a virtual service. There is no conversion back to cash, etc... so selling real for virtual, in a pre-paid fashion is included.
There is some serious cross information here and reading a professors interpretation of it doesn't help. The release states what it states which isn't all that clear.
Originally posted by Infalible Interestingly, I'm talking about the Government release as well :-) Interestingly, they specifically highlight that RMT industry in their release. Interestingly, most of the focus is on the exchange of virtual currency for real money. Interesting, really... considering they, "aren't banning gold farming." Also, go and do some research :-) Prices on a lot of sites have almost doubled since the article was released. Why would companies double their prices if they were not at risk? It does not make sense :-) So yes... you should be slapping yourself in the face ;-)
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
So you quote an INTERPRETATION of the post by a professor and claim that to be the facts of the situation.
They are banning game cards too and include them in their text. Mind explaining that one? That's not virtual-to-virtual, that's a one-way real-to-virtual transaction -- no different than any other type of purchase for online services.
The government also spelled out the definition of "virtual currency" for the first time, which includes prepaid cards of cyber-games, according to a joint circular from the Ministry of Culture and the Ministry of Commerce Friday.
"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 goods and services." it said.
Now that seems a bit unclear. You can buy currency to use in the virtual world. You cannot convert virtual to real goods and services -- interpretation: You can't get 1,000pp in a game and buy a tee-shirt for that. But this doesn't cover the game cards aspect which doesn't do that. It is strictly a pre-paid access pass.
Since 2007, virtual money trading has drawn official attention, with the government demanding tighter controls as such trading became an avenue for gambling and illicit trade.
Under the new rules, using virtual money for gambling will be punished by public security authorities, and minors may not buy virtual money.
The Ministry of Culture also vowed to step up supervision on money laundering via virtual credits and other illegal online activities.
So their goal is to shut down money laundering and gambling style activities across the web that use virtual currency in the same fashion as casinos use chips at the tables but this would be up to the wording of the law. There's no way of telling without reading Chinese how "fuzzy" the scope is or how exacting. This is a press release of what they did.
But *THINK* about this a minute... They're including game cards in the mix. A game card is nothing more than pre-paid access to a virtual service. There is no conversion back to cash, etc... so selling real for virtual, in a pre-paid fashion is included.
There is some serious cross information here and reading a professors interpretation of it doesn't help. The release states what it states which isn't all that clear.
It's perfectly clear that the release says nothing about banning the sale of MMO-currency for real cash.
As for game cards, it simply says that they fall within the definition of "virtual currency", i.e. you cannot use a 60 day game card to pay for a hand job in a back alley in Hong Kong.
____________________________________________ im to lazy too use grammar or punctuation good
Comments
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
However, this is not a massive dent in the RMT industry. It is a massive dent to the Chinese economy (although when you have an economy like that, you don't really need to worry about a few dents here and there). The RMT industry will simply move their operations to other countries that will benefit more from the industry, the Philipines being a good example.
http://www.themmoquest.com - MMO commentary from an overly angry brit. OFFICIALLY LAUNCHED!
I wonder which nation will take over if this effectivly stops the Chinese, there will be a gap in the market.
I used to visit this site a lot however in recent years it has become the home of negative forum posts, illogical opinions and tantrums so I visit less often.
Played or Beta'd: UO / DAOC / Horizons / EQ2 / DDO / EVE / Archlord / PirateKingsOnline / Tabula Rasa / LOTRO / AOC / Champions / Darkfall / Mortal Online / DCUO / Rift / STO / SWTOR / TSW
It's more than likely that they will move to countries like the Philipines. The reason why China was so popular (but by no means that only country in use) with RMT companies was simply because of the cheap labour and low rental prices on buildings. In Phil, labour is not nearly as cheap but building rental is on the same level, so it makes sense for them to move there.
There are other countries of course that may well see more of an influx of RMT companies. The Internet uptake in African countries is gaining speed, so we may see some companies moving their, although the lack of political stability in the region will put them off. Middle East is an option as well.
http://www.themmoquest.com - MMO commentary from an overly angry brit. OFFICIALLY LAUNCHED!
Unfortunately I don't see this making a very big impact on the plague until the game companys come up with a way to stop the practice in game. it may slow it down for a little while, but does nothing to stop it completely. I would love to see a game where you don't get spammed in /tell or mail every 5 seconds to by gold or for power leveling services. This is why WoW is the most hacked MMO in existance, because of the keyloggers and other progams hidden in these so called "services".
"I'm a Alpha male on Beta blockers"-The Immortal George Carlin
RIP
Ronnie James Dio 2010(The greatest Voice in Rock)
You won't see many in Africa due to the poor infrastructure,the next couple of years you will see world wide crack downs in all areas of the internet including massive new UN anti piracy laws,it's sad even the wild west eventually was tamed,so it will be with the internet.
And alot of people say that this will have little impact have no idea what they are talking about,this effects any Chinese entrepreneur if you think the Chinese government is not going to mind if one of their citizens attempts to circumvent law by setting up shop in a sympathetic country then my friends you don't know the Chinese government.
Hup hup, huzzah
I would retort with the idea that you don't know what you are talking about.
The majority of the companies that operate from China and pile the most amount of money and infrastructure into the Chinese and the "workhouses" of farmers are not Chinese companies :-) Pretty much all of the are US or EU companies ;-) Go do some reading ;-) The Chinese may work for these companies... but that is where it ends. Those are the driving forces behind this industry ;-) I know this because as a Journalist I had to do a large amount of research into the topic ;-)
http://www.themmoquest.com - MMO commentary from an overly angry brit. OFFICIALLY LAUNCHED!
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
____________________________________________
im to lazy too use grammar or punctuation good
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
http://www.themmoquest.com - MMO commentary from an overly angry brit. OFFICIALLY LAUNCHED!
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
:facepalm: Your logic is failed. Real currency is not, by definition, "real goods and services".
If you don't get it, you don't get it. Read the whole article, and I'm talking about the government release, not the conjecture ridden BS pieces on the gaming sites. It's very clear that they contemplate the continued exchange of virtual currency for real currency, and they don't say a single word about gold farming or the sale of MMO gold for real money.
EDIT: If you don't believe me, read this.
____________________________________________
im to lazy too use grammar or punctuation good
How? What about farming and selling gold involves the exchange of real world goods for virtual currency?
The exchange of irl currency in exchange for virtual goods IS now illegal in China, unless it is facilitated by the company who owns the IP rights to that currency. Furthermore, this is obviously a first step towards the strenuos regulation of the virtual game worlds we in the West take for granted. We'll just have to wait for some people to get shot before we know the full extent of this law :-)
...
Do you have a copy of the actual law, because that's not what the article says at all.
It says:
'China has unveiled the first official rule on the use of virtual currency in the trade of real goods and services to limit its possible impact on the real financial system.
...
"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 goods and services."'
Nothing there says that it is illegal to sell virtual currency for real money. In fact, the article assumes this will take place.
"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 goods and services."
In other words, virtual currency will be limited to virtual transactions. There really is little that needs explaining here. The point that is made about the virtual currency being exchanged for real money is only made to highlight how it is used. It does not say, "Virtual currency will continue to be exchanged for real currency," because - by definition - that is a form of, "real goods and services."
:facepalm;
If you don't get it, you don't get it. Read the whole article, and I'm talking about the government release. It's very clear that they contemplate the continued exchange of virtual currency for real currency.
Interestingly, I'm talking about the Government release as well :-) Interestingly, they specifically highlight that RMT industry in their release. Interestingly, most of the focus is on the exchange of virtual currency for real money. Interesting, really... considering they, "aren't banning gold farming."
Also, go and do some research :-) Prices on a lot of sites have almost doubled since the article was released. Why would companies double their prices if they were not at risk? It does not make sense :-)
So yes... you should be slapping yourself in the face ;-)
http://www.themmoquest.com - MMO commentary from an overly angry brit. OFFICIALLY LAUNCHED!
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
Here is another one.
____________________________________________
im to lazy too use grammar or punctuation good
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
Here is another one.
So you quote an INTERPRETATION of the post by a professor and claim that to be the facts of the situation.
They are banning game cards too and include them in their text. Mind explaining that one? That's not virtual-to-virtual, that's a one-way real-to-virtual transaction -- no different than any other type of purchase for online services.
The government also spelled out the definition of "virtual currency" for the first time, which includes prepaid cards of cyber-games, according to a joint circular from the Ministry of Culture and the Ministry of Commerce Friday.
"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 goods and services." it said.
Now that seems a bit unclear. You can buy currency to use in the virtual world. You cannot convert virtual to real goods and services -- interpretation: You can't get 1,000pp in a game and buy a tee-shirt for that. But this doesn't cover the game cards aspect which doesn't do that. It is strictly a pre-paid access pass.
Since 2007, virtual money trading has drawn official attention, with the government demanding tighter controls as such trading became an avenue for gambling and illicit trade.
Under the new rules, using virtual money for gambling will be punished by public security authorities, and minors may not buy virtual money.
The Ministry of Culture also vowed to step up supervision on money laundering via virtual credits and other illegal online activities.
So their goal is to shut down money laundering and gambling style activities across the web that use virtual currency in the same fashion as casinos use chips at the tables but this would be up to the wording of the law. There's no way of telling without reading Chinese how "fuzzy" the scope is or how exacting. This is a press release of what they did.
But *THINK* about this a minute... They're including game cards in the mix. A game card is nothing more than pre-paid access to a virtual service. There is no conversion back to cash, etc... so selling real for virtual, in a pre-paid fashion is included.
There is some serious cross information here and reading a professors interpretation of it doesn't help. The release states what it states which isn't all that clear.
What are you talking about? The government release never once mentions the RMT industry, and only mentions the trade of virtual currency for real money once, in the quote I highlighted, when it explains how people obtain the virtual currency. On the other hand, it talks about the impact of using virtual currency for trade in real goods and services on the real financial system" and how it is being used for illegal activities, gambling and money laundering. None of this has anything to do with RMT in MMORPGs.
Again, as I said, if you don't believe me, read the blog I linked. You, like almost everybody else, are way behind. Gaming sites are already posting the correction.
Here is another one.
So you quote an INTERPRETATION of the post by a professor and claim that to be the facts of the situation.
They are banning game cards too and include them in their text. Mind explaining that one? That's not virtual-to-virtual, that's a one-way real-to-virtual transaction -- no different than any other type of purchase for online services.
The government also spelled out the definition of "virtual currency" for the first time, which includes prepaid cards of cyber-games, according to a joint circular from the Ministry of Culture and the Ministry of Commerce Friday.
"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 goods and services." it said.
Now that seems a bit unclear. You can buy currency to use in the virtual world. You cannot convert virtual to real goods and services -- interpretation: You can't get 1,000pp in a game and buy a tee-shirt for that. But this doesn't cover the game cards aspect which doesn't do that. It is strictly a pre-paid access pass.
Since 2007, virtual money trading has drawn official attention, with the government demanding tighter controls as such trading became an avenue for gambling and illicit trade.
Under the new rules, using virtual money for gambling will be punished by public security authorities, and minors may not buy virtual money.
The Ministry of Culture also vowed to step up supervision on money laundering via virtual credits and other illegal online activities.
So their goal is to shut down money laundering and gambling style activities across the web that use virtual currency in the same fashion as casinos use chips at the tables but this would be up to the wording of the law. There's no way of telling without reading Chinese how "fuzzy" the scope is or how exacting. This is a press release of what they did.
But *THINK* about this a minute... They're including game cards in the mix. A game card is nothing more than pre-paid access to a virtual service. There is no conversion back to cash, etc... so selling real for virtual, in a pre-paid fashion is included.
There is some serious cross information here and reading a professors interpretation of it doesn't help. The release states what it states which isn't all that clear.
It's perfectly clear that the release says nothing about banning the sale of MMO-currency for real cash.
As for game cards, it simply says that they fall within the definition of "virtual currency", i.e. you cannot use a 60 day game card to pay for a hand job in a back alley in Hong Kong.
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im to lazy too use grammar or punctuation good