NationStates Jolt Archive

I read this and couldnt believe it. I never thought I would ever see the day that this type of transaction would take place. What do you all think of this type of deal. Is this guy crazy? Maybe crazy like a fox?

http://www.cnn.com/2005/TECH/biztech/11/10/virtual.real.estate.ap/index.html

Did I just go back im time a couple of weeks?

Did I just go back im time a couple of weeks?

Welcome to Slashdot two weeks ago! Did you know that Sony has a rootkit DRM on its CDs?

I read this and couldnt believe it. I never thought I would ever see the day that this type of transaction would take place. What do you all think of this type of deal. Is this guy crazy? Maybe crazy like a fox?

http://www.cnn.com/2005/TECH/biztech/11/10/virtual.real.estate.ap/index.html

WOW!!!!!!

I think he is crazy but hey, if he's successful.... :D

Sounds like what they did back in the 90s. Remember internet stocks? They were, if I remember correctly, purely speculative, and were not even real equities.

Welcome to Slashdot two weeks ago! Did you know that Sony has a rootkit DRM on its CDs?
Never! I only read that 5 or 6 times here, I never thought it would be true!

Sounds like what they did back in the 90s. Remember internet stocks? They were, if I remember correctly, purely speculative, and were not even real equities.


Heh, this is worse then tech stocks. But not by much.

If anyone has played World of Warcraft, ingame currency (gold) can go for large amounts of US money. And 90% of the gold sold is from economicly stressed Asian countries (China it the biggest). Not that much of the money got there though.

People will do a lot for something that dosen't exist. Be it ideals, fame, or, in this case, virtual property.

Here, I thought it'd be about that one island sold on EverQuest, I believe it was. It's sad people're willing to buy and sell items in a virtual world. There's nothing tangible about them, and if the server(s) crash without backups, you've lost your precious investment(s).

Here, I thought it'd be about that one island sold on EverQuest, I believe it was. It's sad people're willing to buy and sell items in a virtual world. There's nothing tangible about them, and if the server(s) crash without backups, you've lost your precious investment(s).

I never heard of an Island sold on Everquest, but I heard of one (and saw it, actually) sold on Project Entropia (for about 20 grand methinks). And the space-station was also sold on Project Entropia.

But the thing is, this is a new day-and-age, and seeing how we live in a Capitalist economy, people will sell anything. Personally, I've never bought anything on an online game using Real money (Although I do pay monthly fee's for MMORPGS), but that's because I'm low on cash.

Heh, this is worse then tech stocks. But not by much.
I'm actually talking of something else. These internet stocks were not in real companies. People created them, and hoped someone else bought them for the capital gains. It was extremely risky, as it was even paper.

Time to start an online real estate brokerage....

http://img483.imageshack.us/img483/3462/post4810903703578cy.jpg

I'm actually talking of something else. These internet stocks were not in real companies. People created them, and hoped someone else bought them for the capital gains. It was extremely risky, as it was even paper.

AOL Time-Warner is a classic example.

Of course, there were the even worse companies that used their stock wealth as venture capital for other firms (CMGI, Internet Capital Group), effectively paying to create more paper wealth with their own paper wealth and then hopefully bail out before the companies went under.