BillMonk, a hybrid of financial tracking and social networking that allows you to see what your balance is with your friends, now supports virtual game currencies. BillMonk itself is interesting is that the debts it tracks are all informal, backed only by the trust between/among friends rather than hard currency or legal obligation, making it a virtual and voluntary economy of hundreds of thousands of ___ [<-- insert your favorite unit of currency here]. And now, its gone meta-virtual, adding support for virtual currency debt types as well.
According the Chuck, the BillMonk guru, "The awkwardness friends have with money is a chronic social/cultural problem, and our users tell us that we're really helping them make their lives easier. We find it fascinating to trace friendship networks, especially when they cross currency and location boundaries." Best of all, for those of us interested in the kinds of social/monetary network data this software generates, BillMonk is willing to, er, share the wealth (of data, that is). Properly scrubbed of names and all identifying information to protect folks' privacy of course.
anybody heard about the Blizzard getting sued by the gold farmer and LO0SING?!?!?
Posted by: Sweetzer | Mar 10, 2006 at 22:04
BillMonk is a very interesting concept; a bit jealous I didn't think of it first. One problem I see with the virtual-currencies part is that they don't support any type of exchange rate calculation. You get the following message in the rate calculator: Sorry, we do not know the exchange rates for game currencies . So you can really only use virtual currencies for settlement if all the parties in the transaction equally value the currency (that is your friend(s) also play(s) WoW, etc.).
Probably for the better given the huge amount of error and manipulation that occurs in virtual currencies rates. Specifically, in most of their supported virtual currencies (L$ excluded), there is a lot of manipulation in implied bid prices by the big RMT services.
Otherwise, the normal questions that arise with sites/services such as this pertaining to barter and taxation probably aren't material. The transactions won't ever be big enough to demand attention.
Posted by: randolfe_ | Mar 11, 2006 at 14:50
It is a pretty interesting model, however there's another site (www.billhighway.com) thats actually been around alot longer and isnt just for show, it actually processes payments for you, friends, family, roommates or groups. My roommates and I use billhighway.com to manage, split and pay bills. My alumni also uses a service from this site for managing and tracking group events, complete with payment processing, reporting and notifications. It's pretty cool - you should check it out!
Posted by: f8k3r | Apr 05, 2006 at 02:00
To manage complexity do developers need to be able to better decompose software into components in a way that trades-off successfully one type of complexity for another?
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I was looking at some of the interesting site in providing services such as getting in game gold for players. The have stuff like power leveling service included in their store too. Didn't know this kind of industry would boom at the expense of MMORPG. Since I was playing World of Warcraft, I start noticing player from my guild buying more and more world of warcraft gold. This was quite interesting and I start making a search on the site which sell this kind of gold. For example, I came across a site that you could
Posted by: Nick | Dec 14, 2006 at 06:29
I agree... some people were power leveling and were banned so they turned to looking for world of warcraft accounts for sale. It's pretty interesting since I came across your site - nice post!
Posted by: josh | Feb 01, 2007 at 05:53