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Interesting Article on Online Currency
(Click here to view the original thread with full colors/images)
Posted by: Freak
Kenneth Michael Merrill is perhaps the first of a new kind of currency speculator. He's using a recent discovery of his, the Gaming Open Market, to profit by trading money that can't be used in the real world.
An article on massively multiplayer game currencies versus real currency. It's pretty interesting if you have heard of people having full time jobs just buying/selling these currencies. I've always wondered how much money they actually make and this article gives a good insight into that.
Posted by: SKYHN
I never understood how they can make so much money. Ive gotten pretty high up with a few MMO games and while getting in game currency and items was easier, I couldnt see making a living off of it. Its all based on chance, and all the good stuff you have to be in a group to get. You would literally have to play 24/7 to make a living from it.
Posted by: Freak
You don't really have to play. You just gotta buy low // sell high, economics 101....
Posted by: SKYHN
Even with that, theres not that many n00bs out there selling stuff for cheap. You find a deal maybe a few times a month. You arent gonna find vets selling stuff for cheap, and their the ones with the good stuff.
Posted by: Freak
In my opinion he's selling 'currency' mainly, not items. In EverQuest, high end items are non-tradeable anyway. He's making money by offering to buy platinum on his website (his portal) and selling it at a profit on the same website. The reason people give him business is because its convienent place to buy/sell, instead of having players arrange deals themselves. Same philosophy behind any superstore like Walmart I guess.
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