Bitcoin Forum
December 05, 2016, 12:37:16 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Backing in-game currency with Bitcoin seems relatively easy...  (Read 2111 times)
Anonymous
Guest

February 24, 2011, 01:29:15 AM
 #1

Since one Bitcoin is infinitely divisible, couldn't you back an entire in-game economy with any number of Bitcoins you wish? Even one?
1480898236
Hero Member
*
Offline Offline

Posts: 1480898236

View Profile Personal Message (Offline)

Ignore
1480898236
Reply with quote  #2

1480898236
Report to moderator
1480898236
Hero Member
*
Offline Offline

Posts: 1480898236

View Profile Personal Message (Offline)

Ignore
1480898236
Reply with quote  #2

1480898236
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
February 24, 2011, 01:31:16 AM
 #2

You could even run the whole bitcoin economy based one bitcoin!   Cheesy

no to the gold cult
Full Member
***
Offline Offline

Activity: 126


"Godshit"


View Profile
February 24, 2011, 01:50:02 AM
 #3

Yeah I wondered what would happen if the game EVE backed the ISK with bitcoin. EVE money is backed by real world currencies via subscription fees, but this could be tricky with a volatile commodity like btc at this stage. And what would be the point of backing the economy on btc at all if people can't move btc in and out of the game economy? And if so rich people with btc outside the game would have an unfair advantage.

1Q1yKUsSXr4KrxriJ4VRxhs6iS1WqBVL93

For your daily bitcoin updates, all you need are these...
http://thebitcoinsun.com/ and http://bitcoinweekly.com
Anonymous
Guest

February 24, 2011, 01:57:02 AM
 #4

Yeah I wondered what would happen if the game EVE backed the ISK with bitcoin. EVE money is backed by real world currencies via subscription fees, but this could be tricky with a volatile commodity like btc at this stage. And what would be the point of backing the economy on btc at all if people can't move btc in and out of the game economy? And if so rich people with btc outside the game would have an unfair advantage.
Your amount wealth doesn't necessarily have to translate into an unfair advantage in-game. All game mechanics are different. In the case of Bitcoins, the game mechanics will have to adjust for the flow of game currency flowing in and out of the game.

Anyways, WoW Gold and EVE ISK are purchased outside their respective games all the time.

The advantage BTC gives to games is that players can actually earn something of intrinsic value --  and lose it too. : P
Nefario
Hero Member
*****
Offline Offline

Activity: 602


GLBSE Support support@glbse.com


View Profile WWW
February 24, 2011, 02:43:32 AM
 #5

I could see a large point of sale system being backed by bitcoin. It would work in a similar way to mybitcoin(I know it's not  POS, what I mean is that it can process transactions between mybitcoin accounts instantly).

First thing that comes to mind is ripple, but for this you wouldn't even need ripple. Why mybitcoin could actually start doing POS right now if  they built the functionality in.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
February 24, 2011, 03:31:54 AM
 #6

Atlas, do you know Dragon's Tale?

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
Stephen Gornick
Legendary
*
Offline Offline

Activity: 1988



View Profile
March 14, 2011, 09:04:34 AM
 #7

Anyways, WoW Gold and EVE ISK are purchased outside their respective games all the time.

On a related noteL

Quote
 Nexon Cash (NX) is purchased through the MapleStory web site.

  PayPal is the only accepted method of payment in MapleStory Global.

Maplestory NX cards are now also being sold for bitcoins by a Maplestory forum operator.
 - http://sleepywood.net/forum/showthread.php?p=10369915

They even reference mt. gox as the method for determine the price in bitcoins.  $1 USD worth of bitcoins buys $1 USD worth of NX Cash.

Quote
The idea behind offering codes for bitcoin was to allow people that didn't have easy access to USD/CAD to pay for it to use their computer hardware(GPU especially) to generate bitcoin.

Interesting.

Astro
Sr. Member
****
Offline Offline

Activity: 242



View Profile
March 14, 2011, 09:26:33 AM
 #8

Perhaps the folks at MindArk could be convinced to deploy a version of Entropia Universe (which uses a real-money economy) that is backed by bitcoin instead of traditional currencies, or even include bitcoin as one of the supported currencies.  

http://planetroster.entropiauniverse.com/
Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
March 14, 2011, 10:21:48 AM
 #9

Since one Bitcoin is infinitely divisible, couldn't you back an entire in-game economy with any number of Bitcoins you wish? Even one?

Take EVE for example. I think ~10M ISK can be exchanged for $1 worth of subscription. Let's say there are a total of 10^12 ISK. If CCP wanted to back this entire amount with 1 BTC, it means 10M will be backed by 0.00001 BTC which can be exchanged for ~$0.00001. This is much less than can be obtained by other means, so no-one will want to exercise it and the backing will be worthless.

The value of bitcoins is controlled from above (how many bitcoins there are total), not from below (the smallest possible denomination).

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
johnieeliang
Newbie
*
Offline Offline

Activity: 14


View Profile
March 14, 2011, 12:55:23 PM
 #10

Since one Bitcoin is infinitely divisible, couldn't you back an entire in-game economy with any number of Bitcoins you wish? Even one?

Take EVE for example. I think ~10M ISK can be exchanged for $1 worth of subscription. Let's say there are a total of 10^12 ISK. If CCP wanted to back this entire amount with 1 BTC, it means 10M will be backed by 0.00001 BTC which can be exchanged for ~$0.00001. This is much less than can be obtained by other means, so no-one will want to exercise it and the backing will be worthless.

The value of bitcoins is controlled from above (how many bitcoins there are total), not from below (the smallest possible denomination).
it fluctuates but its usually between 350-370 is 15$ but yea your right you could back an entire game currency with one btc
kiba
Legendary
*
Offline Offline

Activity: 980


View Profile
March 14, 2011, 02:30:12 PM
 #11

I got an idea for a game that use bitcoin as energy resource, except you can play lot of games with just one bitcoin. Since one bitcoin equals 100,000,000 satoshis, you will spend at most 100,000 satoshis in a long paced RTS game.

Meni Rosenfeld
Donator
Legendary
*
Offline Offline

Activity: 1890



View Profile WWW
March 14, 2011, 07:08:18 PM
 #12

Since one Bitcoin is infinitely divisible, couldn't you back an entire in-game economy with any number of Bitcoins you wish? Even one?

Take EVE for example. I think ~10M ISK can be exchanged for $1 worth of subscription. Let's say there are a total of 10^12 ISK. If CCP wanted to back this entire amount with 1 BTC, it means 10M will be backed by 0.00001 BTC which can be exchanged for ~$0.00001. This is much less than can be obtained by other means, so no-one will want to exercise it and the backing will be worthless.

The value of bitcoins is controlled from above (how many bitcoins there are total), not from below (the smallest possible denomination).
it fluctuates but its usually between 350-370 is 15$ but yea your right you could back an entire game currency with one btc
Who is right? You quoted me, and I said you couldn't back an entire game currency with one btc.

1EofoZNBhWQ3kxfKnvWkhtMns4AivZArhr   |   Who am I?   |   bitcoin-otc WoT
Bitcoil - Exchange bitcoins for ILS (thread)   |   Israel Bitcoin community homepage (thread)
Analysis of Bitcoin Pooled Mining Reward Systems (thread, summary)  |   PureMining - Infinite-term, deterministic mining bond
barbarousrelic
Hero Member
*****
Offline Offline

Activity: 675


View Profile
March 14, 2011, 07:21:31 PM
 #13

I don't think most online games (besides gambling sites) would want this. You play a game to escape from reality. You probably don't want a game set up so that if you're poor IRL, you're also poor in the game.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!