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They appear to specifically have guidance indicating that this refers to cryptocurrency and NFTs. However, I would also point out, stuff you buy in a video game

They appear to specifically have guidance indicating that this refers to cryptocurrency and NFTs. However, I would also point out, stuff you buy in a video game is never actually an asset: It's just an entry in that company's database that your account has an item. You never really control it in the way you theoretically control a crypto asset.

mudrockbestgirl 4y ago
That argument doesn't make much sense. You don't control your bank balance, which are just IOUs, either. It's just an entry in some centralized company's database.
- jakelazaroff 4y ago
  That’s not how bank account balances work. My balance is an entry in a database, sure, but it’s not “just” an entry. If a video game company decides my points are now worth half as much, or that they’ve expired, that’s their prerogative — and if I don’t like it that’s too bad. If a bank tried to do that, they’d get hit with a ton of lawsuits that they’d definitely lose.
  - mudrockbestgirl 4y ago
    That's only true in good economic times and non-war periods and places. What you're saying is true in America right now, but not in many other countries [0], and it's also not true across time. Even in America, eventually a time will come where you can't get your money out of a bank account exactly because it's just an entry in a centralized database and because it will be in the best interest of people in power to prevent you from doing so. This, and similar restrictions, have happened several times throughout history. The point I'm trying to make is that it's not fundamentally as different from an in-game currency as you think it is. The cycles just happen much less frequently over longer periods of time (companies go bankrupt and change faster than wars happens) so you may never see it in your lifetime if you're lucky. [0] https://www.timesofisrael.com/lebanese-cafe-owner-hailed-for-robbing-bank-to-get-his-own-money/ https://www.timesofisrael.com/lebanese-cafe-owner-hailed-for...
MBCook 4y ago
If you can resell it, and I know that’s an option in some games (or was), what’s the practical difference?
- ocdtrekkie 4y ago
  Fair point, but in most games you cannot sell out stuff you acquire back to real money.
  - MBCook 4y ago
    And I agree those are not assets as they have no practical value.
  - EGreg 4y ago
    As long as you can transfer it to someone, you can sell it. Like on localbitcoins site, people met up to make the trade.
    - colechristensen 4y ago
      Game terms of service will explicitly ban selling in game items specifically to avoid appearing to be trading in things which act like money.
- Gigachad 4y ago
  You don’t own it, it’s not an asset, it’s a license to use something for an undetermined time. You almost always can’t sell it officially.

mudrockbestgirl 4y ago

That argument doesn't make much sense. You don't control your bank balance, which are just IOUs, either. It's just an entry in some centralized company's database.

jakelazaroff 4y ago
That’s not how bank account balances work. My balance is an entry in a database, sure, but it’s not “just” an entry. If a video game company decides my points are now worth half as much, or that they’ve expired, that’s their prerogative — and if I don’t like it that’s too bad. If a bank tried to do that, they’d get hit with a ton of lawsuits that they’d definitely lose.
- mudrockbestgirl 4y ago
  That's only true in good economic times and non-war periods and places. What you're saying is true in America right now, but not in many other countries [0], and it's also not true across time. Even in America, eventually a time will come where you can't get your money out of a bank account exactly because it's just an entry in a centralized database and because it will be in the best interest of people in power to prevent you from doing so. This, and similar restrictions, have happened several times throughout history. The point I'm trying to make is that it's not fundamentally as different from an in-game currency as you think it is. The cycles just happen much less frequently over longer periods of time (companies go bankrupt and change faster than wars happens) so you may never see it in your lifetime if you're lucky. [0] https://www.timesofisrael.com/lebanese-cafe-owner-hailed-for-robbing-bank-to-get-his-own-money/ https://www.timesofisrael.com/lebanese-cafe-owner-hailed-for...

MBCook 4y ago

If you can resell it, and I know that’s an option in some games (or was), what’s the practical difference?

ocdtrekkie 4y ago
Fair point, but in most games you cannot sell out stuff you acquire back to real money.
- MBCook 4y ago
  And I agree those are not assets as they have no practical value.
- EGreg 4y ago
  As long as you can transfer it to someone, you can sell it. Like on localbitcoins site, people met up to make the trade.
  - colechristensen 4y ago
    Game terms of service will explicitly ban selling in game items specifically to avoid appearing to be trading in things which act like money.
Gigachad 4y ago
You don’t own it, it’s not an asset, it’s a license to use something for an undetermined time. You almost always can’t sell it officially.