Chinese Government Bans RMT

[Wolfknight]

The Chinese government estimates that trade in virtual currency exceeded several billion yuan last year, a figure that it claims has been growing at a rate of 20% annually. One billion yuan is currently equal to about $146,000.

The trading of virtual currency for real cash employs hundreds of thousands of people worldwide and generates between $200 million and $1 billion annually, according to a 2008 survey conducted by Richard Heeks at the University of Manchester.

He estimates that between 80% and 85% of gold farmers are based in China.

Am I the only one that noticed none of those numbers add up?

Either way, Yay for less gil farmers. Yay for higher prices. Yay for hopefully having less of an impact in the infancy of FF XIV.

several billion yuan could be 50 billion or 200 billion, it's kinda of vague.

[Shenrien]

http://www.little-gamers.com/comics/2005-10-28.jpg

touche

[Mistress Stowastiq]

"Ten" "cent".com ? QQ coins lol. This reminds me of when they banned online gambling in my state. Pokeroom.com sent me an email before it happened, trying to get customers to spend up before the laws passed.

I had no idea that China had this central coin that they exchange with like the "QQ". Sounds very Neuromanceresque.

[Waku]

Nothing will change at all. Most of the RMTs have offices in the Philippines for just such a reason. Russia is also a haven for RMT, and of course plenty of BOT farmers are right here in the USA.

[Redshift]

Aye. How will Kaythen be able to solicit underage boys for sexual favors now?!?

I'm sure he found some when he joined Wopaco, but idk where he gets them these days.

[vagus]

I doubt this will do that much for stopping RMT in online games. For example the Chinese government also says selling pirated DVDs and software is illegal. But yet this stuff is still sold all over China.

In theory controlling RmTs would be a bit easier as the goverment has the power to control the internet.

[Waku]

This just in, China controls THE INTERNET!

[Narol]

China does try very hard to enforce controls on what their citizens can and can't access on the Internet. A lot of stuff the government doesn't like is flat-up blocked by Chinese ISPs. The government won't ever stop RMT, but they can apply pressure to it.

Basically, expect your Brogame tells to start quoting higher prices per million.

[xopher]

Coincidentally I didn't receive a single brogame or brosale tell yesterday. I normally get 5+ a day.

[Bingbong]

This just in, China controls THE INTERNET!

Nah, not just yet, but they do have their foot in the door.

The Chinese government keeps a tight rein on the internet and what users can access. The BBC news site is inaccessible, while a search on Google.cn for the banned Falun Gong spiritual movement directs users to a string of condemnatory articles.

BBC NEWS | Technology | Google censors itself for China

[Karbuncle]

Coincidentally I didn't receive a single brogame or brosale tell yesterday. I normally get 5+ a day.

Haven't seen one Brogames tell in 2 days o.O

[Greatguardian]

Still getting my 5/day here on Cerberus.

[Narol]

I'm getting fewer than before, but they're still there.

[Silenka]

I'm getting fewer than before, but they're still there.

A few days ago I was getting two or three per hour, now I only get one or two a day...

[Fogo]

I love bahamut being closed, no brogame tells in months :D

[Max™]

I like going on /away, no tells at all.

[Therin]

I apologize if thiis is a semi-necrobump but I wanted to mention something interesting.

I haven't gotten a brogame/brosale tell in a few days, so out of curiosity I went to a few RMT websites to see if the prices had been affected by this recent ban in China. A week or so ago I was getting tells from RMT saying that the prices were down to $17-18 per million. Now, on IGE, brogame and EGS websites, prices are above $40 per million.

I doubt that's coincidence.

[Silenka]

My brogame and brosale tells have been conspiciously absent as well...

What I find incredibly sad about this is that the Chinese government managed to fix the problem faster than SE could.

[Gere]

Yeah isn't it surprising how one of the largest and most powerful countries in the world has more influence than a video game company?

[Silenka]

Yeah isn't it surprising how one of the largest and most powerful countries in the world has more influence than a video game company?

I'm pointing out that it's totally not surprising that SE can't keep unwanted elements out of its own game, although it is a little surprising that the ban on RMT actually seems to be working.