Chinese Limit Use of Virtual Currency

Mordakai

Mordakai

Grotto Attendant

Join Date: Aug 2005

Kyhlo

W/

Great, so we can close this thread now before Inde gets reported as a goldfarmer?

Inde

Site Contributor

Join Date: Dec 2004

Quote:
Originally Posted by Abedeus View Post
Inde - true, turns out it's not true.

http://www.escapistmagazine.com/news...ming-After-All

Visit Escapist more often.
LOL, they quoted the IncGamers/BluesNews article is all.

Nanood

Nanood

Wilds Pathfinder

Join Date: Aug 2005

Supermans Crystal Palace

Legion Of The Dark Sun

Well I would not like to spend time in jail in China. Can you imagine the converstions between prisoners...
P1 "What are you in for"
P2 "Selling gold in a virtual world of fantasy and challenge"
P1 "You're a scourge on society I hope you rot in here for your hienus crimes"
P2 "Yes I truly am a sick perverted deviot and deserve the death penalty"
P1 "Guards.! Here's 100 yen to move me in with Shiro the mass murderer and get me away from this filthy excuse for a human."

If people get convicted of this it would have to be the lamest crime ever.

Coney

Coney

Wilds Pathfinder

Join Date: Aug 2008

Quote:
Originally Posted by Nanood View Post
Well I would not like to spend time in jail in China. Can you imagine the converstions between prisoners...
I really don't think that's an issue. Most that end up in prison face short terms, as they are executed - usually as 'democratic terrorists'. They're not the nation that places 2% of their population in prison indefinitely...

Chthon

Grotto Attendant

Join Date: Apr 2007

Quote:
Originally Posted by Abedeus View Post
Inde - true, turns out it's not true.

http://www.escapistmagazine.com/news...ming-After-All

Visit Escapist more often.
I think I'm going to wait until all these conflicting news stories calm down, but I've got to say I'd be very surprised if the Chinese actually banned gold farming.

1. I've heard tell that this was about maintaining control of the currency so that the central bank's monetary policy couldn't be undermined by people using QQ Coins and the like to bypass whatever inflation/deflation the policy was trying to create. Nothing to do with gold farming.

2. In matters economic and environmental, the policy of the Chinese government can usually be summed up as "F*** the rest of the world and do what's best for China's short-term pecuniary interest." Gold selling brings money to China at the expense of western (and Korean) game companies and non-gold-buying players. They have no incentive to ban it.

3. But... The rationale in the counter-article makes no sense. A person selling in-game gold for real-world cash necessarily involves another person selling a real-world good (cash) for in-game gold - which is forbidden. And, unless all the gold-buyers start keeping yuan on hand, that person is probably a Chinese intermediary (USD <--> yuan <--> gold).

Inde

Site Contributor

Join Date: Dec 2004

Good article that covers the fact that no, it's not banning gold farming but could put Free-to-Play MMO's in serious jeopardy in China.

Quote:
The regulations also solidify some issue that are of concern to US customers of online games as well:

- If the service is shut off, customers are entitled to a refund of unused currency.
- "virtual currency should be exchanged only for virtual goods and services provided by the issuer of the currency" (this would cause problems for a lot of the third party currency folks here in the US and elsewhere)
- Companies already involved in virtual currency trading are required to register with the local cultural affairs bureau within three months.
- Minors may not buy virtual money. THIS IS POTENTIALLY HUGE. If enforced, this would essentially shut down most MMOs that use the Free-to-Play business model. http://playnoevil.com/serendipity/in...y-Instead.html

Raccoon

Raccoon

Frost Gate Guardian

Join Date: Sep 2007

Me/A

To be honest I never saw the point in disallowing gold selling :P

Granted I had IRL money to waste on pretty clothes that don't technically belong to me, I like to think that the people that do buy gold are helping impovrished chinese families buy food for another day.

Why won't somebody please think of the children D:

Fril Estelin

Fril Estelin

So Serious...

Join Date: Jan 2007

London

Nerfs Are [WHAK]

E/

Quote:
Originally Posted by Chthon View Post
3. But... The rationale in the counter-article makes no sense. A person selling in-game gold for real-world cash necessarily involves another person selling a real-world good (cash) for in-game gold - which is forbidden. And, unless all the gold-buyers start keeping yuan on hand, that person is probably a Chinese intermediary (USD <--> yuan <--> gold).
I don't have any stats on that, but maybe most gold-selling buyers are outside China, thus not affected by this Chinese law? I know that gold-selling is not a target of this law, but it would be a nice side-effect...

Chthon

Grotto Attendant

Join Date: Apr 2007

Quote:
Originally Posted by Fril Estelin View Post
I don't have any stats on that, but maybe most gold-selling buyers are outside China, thus not affected by this Chinese law? I know that gold-selling is not a target of this law, but it would be a nice side-effect...
Oh, I'm sure that most of the ultimate purchasers aren't in China. My point is that this isn't a simple 2-person transaction. It's not like the purchaser buys directly from the farmer. In between the purchaser and the farmer there's at least 2 other people -- the farmer's boss and a currency exchanger. If nothing else, the exchange between the farmer and his boss is surely a violation. Not that I expect the authorities have any interest in enforcing it...

Ghost Dog

Krytan Explorer

Join Date: Mar 2008

W/

Very Impressive China.

Honestly in the PRC gold farming is an ugly business and this is fitting.

Longasc

Longasc

Forge Runner

Join Date: May 2005

China Daily updated their headline to reflect the fact that China did *not* ban gold farming.

I think we need to do that, too.

http://www.informationweek.com/news/...leID=218101859

"Editor's note: The former headline, China Bans Gold Farming, was changed because it incorrectly extended the scope of the new regulations to all virtual currency exchanges. The new rules limit official game currencies sold by game operators, but not "virtual network props such as costumes, games, coins, weapons and other props."

revelation

revelation

Jungle Guide

Join Date: Feb 2006

W/

That means we can still buy gold unidentifieds at Lions Arch

fb2000

Desert Nomad

Join Date: Apr 2006

Quote:
Originally Posted by Chthon View Post
I think I'm going to wait until all these conflicting news stories calm down, but I've got to say I'd be very surprised if the Chinese actually banned gold farming.

1. I've heard tell that this was about maintaining control of the currency so that the central bank's monetary policy couldn't be undermined by people using QQ Coins and the like to bypass whatever inflation/deflation the policy was trying to create. Nothing to do with gold farming.

2. In matters economic and environmental, the policy of the Chinese government can usually be summed up as "F*** the rest of the world and do what's best for China's short-term pecuniary interest." Gold selling brings money to China at the expense of western (and Korean) game companies and non-gold-buying players. They have no incentive to ban it.

3. But... The rationale in the counter-article makes no sense. A person selling in-game gold for real-world cash necessarily involves another person selling a real-world good (cash) for in-game gold - which is forbidden. And, unless all the gold-buyers start keeping yuan on hand, that person is probably a Chinese intermediary (USD <--> yuan <--> gold).
Wake up, the government of every country is using the "F*** the rest of the world zzz" strategy. Provided one isn't brainwashed, its quite easy to trace everything back to the Western World. The name of another country which embrasses this strategy so much MORE than China comes to mind, but lets not turn this into a political dispute.

The Chinese can ban everything they like, however noone thinks they can actively enforce something like this right? Its just a PR move, nothing else.



I always have to laugh at all the "BAN GOLD SELLERS" zealots