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seen it all now

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  • Registered Users Posts: 14,619 ✭✭✭✭ banie01


    Kuva wrote: »

    2nd life's Linden dollar was traded above par for a long time back in the noughties for similar use case, i.e none ;)


  • Closed Accounts Posts: 522 ✭✭✭ theyoungchap


    You'd probably be as well off betting on virtual racing in a bookies.


  • Registered Users Posts: 6,413 ✭✭✭ Doodee


    This is nothing new. In fact it's been happening in MMO's for years.

    https://singularityhub.com/2010/11/21/man-sells-virtual-real-estate-in-online-game-for-635000-wtf-video/#sm.0000jg0y236ed2911j8255l7obum0

    There is a huge market for virtual goods online and a lot of companies creating middleware in the games space to handle the trade of such things. Blockchain is allowing this to happen as a secondary market instead of the highly controlled markets operated by the likes of Valve. The big advantage with blockchain is that the asset owner truely owns the asset, rather than a license for use with Valve etc.


  • Moderators, Society & Culture Moderators Posts: 25,535 Mod ✭✭✭✭ Dades


    Doodee wrote: »
    The big advantage with blockchain is that the asset owner truely owns the asset, rather than a license for use with Valve etc.
    I'd question the use of the word "asset" in this scenario!


  • Registered Users Posts: 6,358 ✭✭✭ Oafley Jones


    Doodee wrote: »
    This is nothing new. In fact it's been happening in MMO's for years.

    https://singularityhub.com/2010/11/21/man-sells-virtual-real-estate-in-online-game-for-635000-wtf-video/#sm.0000jg0y236ed2911j8255l7obum0

    There is a huge market for virtual goods online and a lot of companies creating middleware in the games space to handle the trade of such things. Blockchain is allowing this to happen as a secondary market instead of the highly controlled markets operated by the likes of Valve. The big advantage with blockchain is that the asset owner truely owns the asset, rather than a license for use with Valve etc.

    I remember Ultima Online was the first time I came across the purchasing/trading of virtual items with real currency and that's going back to the end of the 90s.


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  • Closed Accounts Posts: 657 Shauny2010


    This is a huge space make no mistake theirs a lot of money floating around these things. Look up virtual gifting which is massive in Asia. Platforms similar to youtube where you spend real money to give virtual gifts to bloggers, twitchers, streamers or whatever you call em. Basically it allows for tipping.
    It ranges from the innocent all the way to the seedy type of stuff (use you imagination here!!) either way if you think you've seen it all with a bit of virtual real estate then you ain't seen nothing yet!
    Their is a few coins to invest in I know I have invested in a few, the Asian ones needed KYC proof etc to early invest. In Europe the only one I can think of at the moment is Naga. I know we looked at that last year.

    Also for a read https://news.bitcoin.com/twitch-streamers-can-now-tip-with-four-cryptocurrencies/


  • Registered Users Posts: 2,489 ✭✭✭ patnor1011


    Dades wrote: »
    I'd question the use of the word "asset" in this scenario!

    Well... Paper gold is commonly referred to as an asset while it actually does not exist at all.
    Revenue wants to tax crypto's saying it is an asset.


  • Registered Users Posts: 704 ✭✭✭ Vestiapx


    patnor1011 wrote: »
    Well... Paper gold is commonly referred to as an asset while it actually does not exist at all.
    Revenue wants to tax crypto's saying it is an asset.

    They want to tax bitcoin before you cash out?


  • Closed Accounts Posts: 657 Shauny2010


    Vestiapx wrote: »
    They want to tax bitcoin before you cash out?
    Revenue already Tax cryptos simply by using Capital gains Tax they have it already covered.
    Any new Tax might be an alternative to this and as it stands the Government here are looking into reducing the taxes on Share trading and share purchases also, so expect new details in the next Budget


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