• Play
  • About
  • News
  • Forums
  • Yppedia
  • Help
Welcome Guest   | Login
  Index  | Recent Threads  | Register  | Search  | Help  | RSS feeds  | View Unanswered Threads  
  Search  


Quick Go »
Thread Status: Normal
Total posts in this thread: 6
[Add To My Favorites] [Watch this Thread] [Post new Thread]
Author
Previous Thread This topic has been viewed 2848 times and has 5 replies Next Thread
UJP

Member's Avatar


Joined: Feb 9, 2004
Posts: 131
Status: Offline
Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

From local paper news item - quote below

Re virtual currencies could this affect dealings on YPP

'...Lawsky said the investigation could lead to regulations that would also benefit virtual currency, which he called an innovative product and a legitimate business enterprise.

Virtual currency is composed of digital bits and based on mathematical schemes that guard against counterfeiting. Bitcoin was started in 2009 as a currency free from government controls, an entirely digital means of exchange for a digital age. It's a rapidly growing phenomenon that has taken root as a payment method on some websites for both legal and illegal goods.'
----------------------------------------
The Prettiest Ole Salt on the Ocean
Luvverly / Kowhai / Liljake
**Known by this and other names on various oceans**
[Aug 14, 2013 3:47:10 AM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
randomact

Member's Avatar


Joined: Jan 18, 2009
Posts: 2163
Status: Offline
Re: Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

Er, Bitcoin is nothing like PoE or doubloons....
----------------------------------------
Loathe/Forever.

Cremate tells ye, "i think i just broke my hymen"
[Aug 14, 2013 4:14:23 AM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
wrs1864b

Member's Avatar


Joined: Apr 10, 2006
Posts: 6310
Status: Offline
Re: Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

Things like bitcoin are very different than PoE/dubs. Bitcoin is explicitly designed to be traded both ways with "official" currencies, while PoE/dubs are explicitly designed to never be exchanged for real money. The YPP ToS says you can only buy dubs with RL money, if you sell it, OOO will try to catch you and ban you.

There is a very good reason for OOO to prevent you from selling PoE/dubs for RL money. If they let you do that, then YPP would legally become a gambling website with all sorts of nasty laws that they would have to follow or OOO could be raided by police and shut down.

OOO's Whirled game does have a currency that can be cashed out for RL money, but it is carefully designed not to be part of in-game gambling.
----------------------------------------
Algol can not assert the truth of all statements in this post and still be consistent.
[Aug 14, 2013 4:14:26 AM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
UJP

Member's Avatar


Joined: Feb 9, 2004
Posts: 131
Status: Offline
Re: Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

Good points both of you
Thankyou for you comments I will continue to watch for any more
----------------------------------------
The Prettiest Ole Salt on the Ocean
Luvverly / Kowhai / Liljake
**Known by this and other names on various oceans**
[Aug 14, 2013 5:00:09 AM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
Jezzebel

Member's Avatar


Joined: Feb 3, 2006
Posts: 4243
Status: Offline
Re: Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

 
OOO's Whirled game does have a currency that can be cashed out for RL money, but it is carefully designed not to be part of in-game gambling.


Whirled discontinued both bars and bling in April of this year. Whirled no longer makes nor disburses income.
----------------------------------------
Redjenny, Now merged with Health Nutz
Thebloggess wrote: 
A hug is like a strangle you haven't finished yet!

----------------------------------------
[Edit 1 times, last edit by Jezzebel at Aug 14, 2013 10:07:04 AM]
[Aug 14, 2013 9:59:44 AM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
UJP

Member's Avatar


Joined: Feb 9, 2004
Posts: 131
Status: Offline
Re: Virtual Currencies - POE & Dubs Reply to this Post
Reply with Quote

 
Good points both of you
Thankyou for your comments, I will continue to watch for any more

----------------------------------------
The Prettiest Ole Salt on the Ocean
Luvverly / Kowhai / Liljake
**Known by this and other names on various oceans**
[Aug 14, 2013 12:46:29 PM] Show Printable Version of Post        Send Private Message [Link]  Go to top 
[Show Printable Version of Thread] [Post new Thread]

Puzzle Pirates™ © 2001-2016 Grey Havens, LLC All Rights Reserved.   Terms · Privacy · Affiliates