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The virtual real estate market is just fine

Discussion in 'Anything goes' started by bigpern23, Nov 13, 2010.

  1. bigpern23

    bigpern23 Well-Known Member


    A man recently spent $635,000 to purchase a luxury resort ... on an asteroid ... in a video game.

    Yes. Real-world money, virtual resort ... on an asteroid.

    In a game called Entropia Universe players use real money to buy virtual property, merchandise, services, etc.

    Oh, and the guy who sold the resort? He originally purchased the asteroid for $100,000, thus making $535,000 profit, nevermind the other money he has earned from it, such selling off the mining rights etc.

    This all makes my head hurt.
  2. Baron Scicluna

    Baron Scicluna Well-Known Member

    A poster child for why the top 2 percent of earners deserve to have their taxes raised.
  3. Shaggy

    Shaggy Guest

  4. Shaggy

    Shaggy Guest

    This is one crazy fucking world we live in.
  5. bigpern23

    bigpern23 Well-Known Member

    Very well played. :D
  6. Point of Order

    Point of Order Active Member

    So there's a virtual housing bubble?
  7. [​IMG]
    Last edited by a moderator: Dec 15, 2014
  8. mustangj17

    mustangj17 Active Member

    Punishing success. Anyone smart enough to figure out how to sell virtual property on a make believe asteroid for a profit of half a million dollars should be helping run our country.
  9. Mystery Meat II

    Mystery Meat II Well-Known Member

    Why? It's an investment, at its core the same as dropping $600,000 into IBM. If people are spending real money in this environment, and they must be if someone can flip a virtual asteroid for a 550% profit, then why not enter the fray? It doesn't matter whether you think it's worth the money, what matters is that someone else does, and you can give it to them for that.
  10. Flying Headbutt

    Flying Headbutt Moderator Staff Member

    Virtual housing is an investment? That's idiotic.
  11. Mystery Meat II

    Mystery Meat II Well-Known Member

    Person A has something
    Person B wants something
    Person A sets the price on something
    Person B determines whether the price is worth it
    IF YES: Person B buys it, end of transaction
    IF NO: Person B determines whether to negotiate the price
    IF NO: Person B walks away, end of transaction
    IF YES: Person A and B determine a price both can live with
    IF YES: Person B buys it, end of transaction
    IF NO: Person B walks away, end of transaction

    That's how this works, whether it's cars, bubble gum or pretend real estate. If someone decides to spend $600,000 on something, then that's what it's worth. And there ain't nothing idiotic about a fivefold profit.
  12. Baron Scicluna

    Baron Scicluna Well-Known Member

    Last I checked, IBM actually exists. There are buildings, they put out a product, they have living, breathing (I think) workers.

    Planet Calypso exists only in the outer reaches of someone's mind.
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