How is cryptocurrency different than all the other non-real digital goods that have become valuable over the years?
Games like second life and Eve did the digital currency thing way before bitcoin. How is a pretend coin you can trade for money different than a pretend game currency you can trade for money?
Because one is traded on the stock market and increasingly accepted in real world transactions?
There was and likely still is, people making livings off earning digital video game currency, selling digital assets and converting it to real money. Not to mention every person that made actual money off mmorpg marketplaces.
Seems like cryptocurrencies just remove the game part and cut right to the economic part. With games, it's the people creating the currency through their actions and time, farming gold, working in Eve, etc. With cryptocurrency it's GPUs and stuff...though I guess technically, your GPU's doing the work for the game currency too.
The concept doesn't seem to have changed, buy make-believe thing that exists only on a computer everybody agrees is worth money and the value of said make believe thing changes based on how many people have or want the make-believe thing.
In EVE Online, the only permitted flow is as follows: you buy subscription time for real money from CCP Games. Others can then buy subscription time from you for in-game currency. In-game currency can only be spent in-game.
It doesn't really seem very similar to cryptocurrency to me; could you explain some more about how you think it's the same?
Games like second life and Eve did the digital currency thing way before bitcoin. How is a pretend coin you can trade for money different than a pretend game currency you can trade for money?
Because one is traded on the stock market and increasingly accepted in real world transactions?
There was and likely still is, people making livings off earning digital video game currency, selling digital assets and converting it to real money. Not to mention every person that made actual money off mmorpg marketplaces.
Seems like cryptocurrencies just remove the game part and cut right to the economic part. With games, it's the people creating the currency through their actions and time, farming gold, working in Eve, etc. With cryptocurrency it's GPUs and stuff...though I guess technically, your GPU's doing the work for the game currency too.
The concept doesn't seem to have changed, buy make-believe thing that exists only on a computer everybody agrees is worth money and the value of said make believe thing changes based on how many people have or want the make-believe thing.