China Hasn't Banned Gold Farming After All

[Andy Chalk]

China Hasn't Banned Gold Farming After All

Bad news, folks: China hasn't banned gold farming after all.

Reports were flying fast and furious [http://www.escapistmagazine.com/news/view/92760-China-Bans-Gold-Farming] earlier this week about a new Chinese law that banned the exchange of virtual currency for real-world goods and services, a restriction that on the surface appeared to spell the end of the country's gold farming industry. But such is not the case: Fake money can no longer be used to buy real stuff but real money, it seems, can still be used to buy fake stuff.

"[The new law] is a government restriction on the use of the quasi-ICTs for Development blog [http://www.paypal.com]. "As announced they can now only be used to pay for virtual stuff, and you can't buy real things with them as game companies were allowing to happen, nor can you gamble. This therefore is not about what gold farming clients do: Use real money to buy these virtual currencies; it's the mirror image."

"It's not about the major trade in gold farming such as World of Warcraft [http://www.worldofwarcraft.com], which relates to other types of virtual currency," he continued. "And it's not about buying/selling in-game items. And it's not about the power-levelling of avatars. Bottom line: It's not about gold farming."

Heeks also noted that the new law appears similar to one imposed in Korea in 2006, when the government placed a ban on the virtual currency trade. That restriction, which was drafted as a result of the large amounts of gambling and "illicit political payoffs" using the virtual currency of Sea Story [http://www.gamblingcompliance.com/node/7103], appeared to have no impact on the Korean gold farming industry.

"If this regulation does come to fruition, it will relate to finance and defense of the RNB yuan [http://en.wikipedia.org/wiki/Renminbi]," Heeks said. "Yes, it may affect some types of games in China but, no, it as yet appears unlikely to have much of an impact on gold farming."

via: IncGamers [http://www.incgamers.com/News/17185/ActuallyChinaDidntBanGoldFarming?gr_i_ni]


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[FinalHeart95]

So wait, what now? You can gold farm, but you can't buy real stuff with virtual money?

China confuses me...

 

[randommaster]

Boo!

WoW needs less spam.

On the plus side, my friend will be able to continue to entertain peple by griefing gold farmers.

 

[HobbesMkii]

I thought it seemed a little strange. After all, a couple related stories on The Escapist claim they began licensing corporations in what amounts to a $500 million industry. And that was just six months ago and change. Seems like a pretty quick turn around to outlaw it.

 

[randommaster]

So wait, what now? You can gold farm, but you can't buy real stuff with virtual money?

China confuses me...

Well, then use plastic dishes.

 

[The Shade]

LAME. China, you broke our hearts yet again.

Also, Mal, nice choice on the picture there.

 

[belgariontheking]

Methinks this would quash Microsoft Points in China as well, though I have no idea whether the 360 has sold much in China.

 

[VitusPrime]

Damn, hopefully Blizz will put a Opt out of gold spam option in the next patch then

 

[Sevre]

Well, if a spectral tiger goes for 500 quid on eBay....

 

[shMerker]

This is confusing. What makes it a "virtual curreny"? I understand that there are good reasons to not trade real-world goods for something as ephemeral as WoW gold, but doesn't this hurt people's ability start local currencies or issue credit? Aren't those both also "virtual currencies"?

 

[Baldry]

I'd just like to say although what I wrote may of seemed a bit of topic and well wrong but it is true they have begun to poo traces of gold I can't remember were i heard this and i bet il be put on suspension or whatever it is but its true, no matter how sick and wrong, sorry.

 

[Miral]

Wait, so the law is saying that if you have virtual money you can only buy virtual stuff, not real stuff, but you're still free to sell virtual stuff for real money?

How exactly does that prevent anything? Surely you could just sell your virtual money to someone for real money (or buy virtual stuff with it first and then sell that). Then you've got real money with which to buy real stuff. No change.

 

[Ezzay]

China makes my brain hurt sometimes.

 

[ninjajoeman]

so it only works one way for buying

real money buys fake gold?

fake gold doesn't buy real money?

thats just like buying food but not being able to sell it unless someone wants to buy it

 

[Shapsters]

So wait, what now? You can gold farm, but you can't buy real stuff with virtual money?

China confuses me...

Well, then use plastic dishes.

You win my friend!

Well played!

 

[Tharticus]

How lame. But if they said is true, gold farming is useless unless the farmer decides to give gold for free.

 

[randommaster]

So wait, what now? You can gold farm, but you can't buy real stuff with virtual money?

China confuses me...

Well, then use plastic dishes.

You win my friend!

Well played!

Why thank you.

 

[Zombie_Fish]

I didn't even know that virtual money could be used to buy real stuff.

Anyway, gold farming I think is one of these stupid things that are just used as a way to corrupt a society and rip off the world in my opinion. Why China isn't getting rid of it I do not understand either, as it is a lot more common than the other way round.