Venezuelans are selling Runescape gold for Bitcoin

[thejaytiesto]

https://www.youtube.com/watch?v=HVXnvb88ZWc

You know an economy is fucked beyond belief when people are making more money farming gold in an MMORPG than having a regular job.

This situations shows that bitcoin is being useful for people in fucked up situations all over the globe. Back then they couldn't have made this as easily. Now they can simply sell it for BTC all over the world.

[joseafonso123az]

Well Venezuela's current economic situation is so bad ! I can't think why these so called politics, don't know how to do their job! If bitcoin is a mean to relief people financial problems, than it's great that bitcoin is helping. If bitcoin gets all stable, than we will be able to reap all the fruits that come with bitcoin !

[AtheistAKASaneBrain]

Im not surprised to see this. The game Runescape introduced the concept of digital scarcity to gamers with the infamous partyhats. Runescape partyhaps are extremely hard to find items that do nothing but make the character look like it's wearing a coloured hat. There are different colours and some of them are harder to find than others. Some of these items are sold for thousands of dollars, more than 1 BTC at current prices. So if a rare Runescape item can hit these prices, imagine what Bitcoin can hit in 5 years.

[davis196]

Im not surprised to see this. The game Runescape introduced the concept of digital scarcity to gamers with the infamous partyhats. Runescape partyhaps are extremely hard to find items that do nothing but make the character look like it's wearing a coloured hat. There are different colours and some of them are harder to find than others. Some of these items are sold for thousands of dollars, more than 1 BTC at current prices. So if a rare Runescape item can hit these prices, imagine what Bitcoin can hit in 5 years.

Please don`t compare runescape pathyhaps with bitcoin.Anyway,the world is gone wild.
People in the third world countries are unemployed and poor and some digital sh*t like runescape stuff can be sold for absurd price.The more important thing is that there are people who are willing to buy it,instead of giving money for charity or investing in something useful.

[buwaytress]

https://www.youtube.com/watch?v=HVXnvb88ZWc

You know an economy is fucked beyond belief when people are making more money farming gold in an MMORPG than having a regular job.

This situations shows that bitcoin is being useful for people in fucked up situations all over the globe. Back then they couldn't have made this as easily. Now they can simply sell it for BTC all over the world.

It's probably true in the case and context of Venezuela (fd up situation) but this is more an example of how disparate national economies have always been. Even in the early 2000s there were cybercafe sweatshops hiring people to simply hack and slash, funneling it to a huge account to sell for fiat. Vietnam, Cambodia,for example. You wouldn't call their economies fucked up but take a look at how much some people pay per day on online games... when the majority of people all over the world still live below $2 a day.

Bitcoin could yet be the great leveller. But not quite yet.

[Beerwizzard]

There is nothing new about ingame currency farmers from thirld world countries. For some people it is more profitable than doing a real job. For me it seems quite usefull for economy simply because it brings money to their country without any significant efforts.
Bht here is a 6yo article with an example how wild it can be: https://www.theguardian.com/world/2011/may/25/china-prisoners-internet-gaming-scam

[bob3772]

I don't really see how bitcoin has made much difference to this at all. For years people have been buying and selling runescape gold as well as gold and items from many other MMORPGs but just using dollars or some other currency instead of bitcoin.

[cryptbit.man]

Man that's heavy. To be fair it might easily turn up to be a profitable exchange in the longer run?