Are online currencies striking gold?

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	Are online currencies striking gold?

JICWyllie

10-15-2009 1:22 PM

72 views

tags:

1-applications, 1-exchange, 2-increase, 3-reported, 4-intl

JICWyllie says:

A long time coming! The support of a community of traders is far more valuable than gold.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/5aee1799-630c-498a-8c34-c486f9f7dbc7/F1541A53-5E51-4454-8718-CCCF95A5C443/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold" href="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold" style="font-size: 11px;">www.guardian.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold">While real-world currencies are on the slide, many virtual ones are going from strength to strength. In the second quarter of the year the equivalent of $144m (£91m) was <A title="traded" href="https://blogs.secondlife.com/community/features/blog/tags/lindex">traded</A> on the LindeX, the <A title="official currency exchange of Second Life" href="http://secondlife.com/statistics/economy-market.php">official currency exchange of Second Life</A>, where residents buy and sell Linden dollars for their US counterpart – a 20% increase on the previous quarter, while the US economy shrank by 1%. Trading activity increased by 6% in the last quarter of 2008.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold"><P>Second Life's European residents pay VAT on some purchases in order to comply with EU tax regulations, and virtual economies could also be subject to further taxation in future.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold"> China has taken to virtual currencies in a big way. Last year nearly $2bn of virtual money changed hands in the country</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold">Social networks have also launched their own currencies. Facebook credits can be used to buy virtual gifts</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.guardian.co.uk/technology/2009/oct/14/online-currencies-striking-gold">Startups such as Jambool and Spare Change have launched virtual currencies that are interoperable</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F1541A53-5E51-4454-8718-CCCF95A5C443/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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