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English-named Pokmon 'big in Japan'

Japanese Pokémon players are making what seem to be strange trades with American players, giving up semi-decent or hard-to-catch creatures in exchange for such lowly drones as "Magikarp." (Even if you don't play Pokémon, it's obvious that anything named "Magikarp" is lametown.) This is great news for gaijin gamers, but why is it happening?

A "Quarter to Three" forum poster who goes by "DeathMonkey" offers a hypothesis: "I believe Japanese players will make unbelievably great deals simply to have Pokémon with an English name." Such a name, notes DeathMonkey, would be impossible to create in the Japanese version of the software, just as American players are unable to use a Japanese alphabet when naming their own digital beasties.

Are Japanese players giving you sweet deals for your lowly Magikarps? And if so, could DeathMonkey's explanation be the reason?