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The Daily Grind: Do you hoard in-game money?
I will never be a rich man in real life. My only interest in money is in spending it, generally on whatever game is offering the cutest in-game hats at any given moment. In games, however, I am absolutely loaded. I carefully conserve my money, spending only when absolutely necessary, and by the time I reach the level cap, I'm already fairly well-off. My bankroll in Final Fantasy XIV is enormous, my wallet overflows with credits in Star Wars: The Old Republic, and if I ever go back to World of Warcraft, it will involve enough gold to swim in, Scrooge McDuck-style. There's rarely a reason to hoard cash, of course. It doesn't convey any advantages aside from allowing you to make enormous impulse purchases. In many games, it's not going to help you really kit out your character, and you don't need to be flush with cash to cover mandatory expenses like travel and repairs. But sometimes it's just nice to know that even if you're subsisting on a diet of instant noodles and water, your character is part of the one percent. So do you hoard in-game money? Every morning, the Massively bloggers probe the minds of their readers with deep, thought-provoking questions about that most serious of topics: massively online gaming. We crave your opinions, so grab your caffeinated beverage of choice and chime in on today's Daily Grind!
New Xbox 360 update bids farewell to points, welcomes local currency
Goodbye, Microsoft Points. Hello, local currency. A new Xbox 360 update, debuting today, has finally made official the long-awaited switch from Microsoft's own virtual currency, allowing you to spend your hard-earned pennies on Xbox Live content. If you've still got Microsoft Points laying around, never fear. As we've previously reported, existing point balances will be converted to their equivalent cash value. According to the company's FAQ, prices are now listed in whatever your local currency happens to be, plus tax. It's worth noting that purchases made with converted money will not be taxed for the time being, and said currency is good until June 1, 2015. For more details, check out Microsoft's breakdown of the switch at the source link below.
Germany recognizes Bitcoin as private money, makes it tax-free for personal use
So far, governments have had polarized reactions to Bitcoin: they either recognize it as a fully regulated currency or ban it outright. Germany, however, has just taken a more nuanced position. The country now recognizes Bitcoin as private money that stays tax-free for personal uses, such as non-commercial internet auctions. You'll only have to pay taxes on business transactions. While the decision doesn't give Bitcoin as much weight as the euro, it should reassure Germans who want to stay on the right side of the law. [Image credit: Zach Copley, Flickr]
Zune Marketplace closing with Microsoft Points conversion
The Zune Marketplace will close its virtual doors whenever Microsoft decides to flip the switch and convert from MS Points to local currency, which could be as soon as Thursday, August 22 according to the Zune Marketplace FAQ. The Zune Marketplace's movie and television rental/purchasing functionalities will be taken over by the Xbox Video platform, whereas its musical feature set will become the domain of Xbox Music, provided you've got a subscription to the service that allows streaming to an Xbox 360. Microsoft recommends that you "spend your points balance prior to this change," but last we heard MS Points will be converted into an amount of local currency of equal or greater value.
Chaos Theory: A guide to The Secret World's tokens and currencies
In life and in games, the overarching method of commerce involves currency. Occasionally, you might find a game (or a friend) that will work with the bartering system, but that is far from the norm around these parts. Then you have The Secret World. TSW has the best -- or worst, you could say -- of both worlds. Bet you didn't know you would take up coin collecting when you started playing, did you? With a plethora of different currencies that can be spent only at certain places for certain things, players have keep tabs on whom they can spend what with and where said whos actually are. Wondering what those Credits of Ca' d'Oro are good for? What about whether Sequins of Solomon Island can be used in Transylvania? This handy guide will help demystify coin collecting and show you the ins and outs of all those tokens filling up your wallet.
Exploits leave some Android-based Bitcoin wallets open to theft (update: details)
If you manage Bitcoins through Android devices, you may need to keep a close eye on your virtual cash in the near future. Developers have found that multiple Android-based Bitcoin apps, such as Bitcoin Wallet and Mycelium Wallet, are vulnerable to number generator exploits that could be used for theft. Although patched apps are either available in beta or coming soon, the complete fix involves more than just new code -- users have to both create a new Bitcoin address and send it out to anyone still relying on old details. You're safe if you use a simple Bitcoin exchange client, but you'll otherwise want to visit the source link for more help with securing your digital holdings. Update: A few days later, Google's Android security team has outlined the exact vulnerability. Apps that use Android's Java Cryptography Architecture sometimes don't get strong-enough encrypted values due to a bug. That's being patched at the OS level, but app writers can offer their own fix in the meantime.
Real currency Xbox Gift Cards to replace MS Point cards
The next Xbox 360 firmware update will push through Microsoft's switch from MS Points to local currency, the company announced earlier today. As a result, Microsoft will also be phasing out its current stable of MS Point gift cards in favor of "Xbox Gift Cards" that, as you might image, fulfill a similar role. The switch from Point cards to Gift Cards is set to take place sometime late this year, although whether that is indicative of when the currency conversion firmware update is slated to hit remains to be seen. Existing MS Point cards and codes will continue to be honored "until further notice" – any redeemed after the switch will be converted to "an amount of local currency equal to or greater than the Marketplace value of those points."
Microsoft pushing Xbox 360 update allowing Xbox Live purchases with real money (update: too soon)
Remember when Microsoft said that you could soon buy Xbox Live content using real money? Well, check your Xbox 360: following an update to one of our consoles, we're now seeing content available in local currency. It's unclear at this stage how many gamers are seeing the change, although Microsoft has already mentioned that the next update will flip the switch. We've reached out to the company for confirmation of the rollout. If you get the update as well, don't worry about your account balance -- as Microsoft mentioned before, any existing points will be converted to their cash equivalent. Update: Microsoft says that real money purchases are still limited to beta program participants, and you'll have to wait until the fall to see the currency change -- false alarm, folks.
Guild Wars 2's new wallet helps you simplify, dude
Guild Wars 2 players who have logged in this week have a new present waiting for them: the Guild Wars 2 Unlimited Edition Wallet-o-Matic (velcro tabs optional). Maybe you thought that the old way of storing all of your loose bills, family photos, and tokens was just fine, but trust us, your inventory was a mess. All the duct tape in the world couldn't keep it organized. In a new dev blog, ArenaNet explains why it made the wallet a priority for the August release: "Inventory management can be a tedious and time consuming part of playing almost any MMO. For many of you, tokens and badges and currencies were all separated across your different characters." The new wallet has become a central depository for the game 16 or so currencies. The only catch to using it is that you have to log onto each of your characters to have all of their tokens and gold automatically transferred into the wallet.
Bitcoin ban means one less option for bribing Thai officials
Thailand isn't exactly known for its unquestionable ethics; activities that would quickly be labeled as illegal in the West are practiced in plain view in Bangkok. Loose regulations mean that a nearly limitless array of goods and services can be purchased with cash and even credit -- a currency like Bitcoin would only be necessary for the most heinous of exchanges. It's a bit ironic, then, that the Thai government is now the world's first to ban Bitcoin. Following a conference at the Bank of Thailand yesterday, the Foreign Exchange Administration and Policy Department voted to make the digital coinage illegal, prohibiting people from buying, selling or trading Bitcoins for goods or services. Additionally, Bitcoins cannot be moved into or out of the country, rendering any current stockpiles worthless. The Bank of Thailand ended its dispatch with a promise to revisit the ruling in the future, though this landmark decision could prove to be the beginning of the end for Bitcoin.
Mt. Gox Bitcoin exchange back in action
As promised, Mt. Gox has reenabled cash withdrawals after taking its system offline to iron out the kinks. The Bitcoin exchange says it's successfully processed over $1,000,000 worth of transactions during these past two weeks of testing, which has given it the confidence to resume business -- despite a backlog on some transactions. Mt. Gox is also announcing that it's signed more banking partnerships "in Japan and around the world," though no specific companies were named. If you want to get into this whole Bitcoin thing, but don't know where to start, we got you covered.
Mt.Gox Bitcoin exchange freezes US dollar withdrawals for two weeks
It's easy to see that the Bitcoin market is under stress when there's rising overall activity and tighter oversight. However, it's now so hectic that the Mt. Gox exchange has trouble fulfilling even basic transactions -- and the institution is freezing US dollar withdrawals for two weeks to keep things in check. Mt. Gox's team will use the downtime to upgrade its trading system and (hopefully) address the heavy workload. Deposits and transfers in American currency should still be good to go. Let's just hope that Mt. Gox manages smoother transitions in the future -- after all, not everyone can afford to leave their money in limbo during a tech refresh.
Microsoft Points from Xbox 360 transfer to Xbox One as real money, 'equal or greater in Marketplace value'
With the Xbox One, Microsoft is killing off the virtual currency of Xbox Live -- Microsoft Points are soon-to-be no more. But what of remaining balances? Apparently Microsoft's taking care of transfers, and even turning those points back into real currency. "When the transition takes place, the balance of Microsoft Points in an account will be retired and the customer will be given an amount in local currency that is equal or greater in Marketplace value," a Microsoft rep told our friends at Joystiq. "That value will be stored in your account and can be used similar to Microsoft Points to make purchases in the Xbox Live Marketplace." It sounds to us like you'll be making a permanent move with your account's currency from the Xbox 360 to the Xbox One -- 80 MS Points are equal to $1, currently. Regardless, it sure is nice that those virtual bucks aren't locked to a console that we'll soon be retiring to the attic.
Mt. Gox now requires verification for non-Bitcoin transactions
While the Bitcoin market is advancing toward legitimacy in the financial world, that also means closer legal scrutiny -- and the Mt. Gox exchange is tightening its policies to match. As of today, the institution requires verification for every non-Bitcoin deposit or withdrawal. The move keeps Mt. Gox in line with "strict anti-money laundering rules," and it reduces the chances that security breaches will spark chaos. Verification won't be necessary for pure Bitcoin transactions, the exchange says. Some traders see the new rule spoiling dreams of a truly borderless currency, but it may help reassure those still skittish about virtual cash.
Canada puts its robot arms on $5 bills, leads the space currency race
Americans like to tease Canadians about their colorful (and often animal-themed) money, but we think the tables might just have turned. When the Bank of Canada issues a new $5 polymer bill this November, one side will include both the Canadarm2 and Dextre manipulator robots in tribute to the nation's work on both the Space Shuttle and International Space Station. Let that sink in for a moment: a country's currency will reference space robots alongside the usual politicians. The only thing dampening the awesomeness is the irony of it all, as it's an ode to technology in a format that's being destroyed by technology. Still, we'll consider the $5 note a victory for geeks everywhere when we're buying a box of Timbits.
This is the Modem World: The internet may be killing cash
Each week Joshua Fruhlinger contributes This is the Modem World, a column dedicated to exploring the culture of consumer technology. We worship money. It can be exchanged for life-sustaining stuff, makes us powerful and drives us to make new things. It also drives us to do some very strange stuff, but that's a subject for another day and place. You may not bow to the altar of the dollar, but you certainly recognize the need to have some in order to survive. While we adore money as a society, its time may be limited as a currency, and the internet may be to blame. Money wasn't always king. Before we traded cash, we exchanged gold, cows, clamshells, rice, copper, tea leaves and even bat guano. At some point in those currencies' lives, people determined that there were other things worth more and moved on to trade those.
BioWare tweaking SWTOR commendations in new expansion
Does your Star Wars: The Old Republic avatar have a bunch of unused Coruscant commendations in his currency window? The upcoming Rise of the Hutt Cartel expansion seeks to rectify that by introducing a new commendation system which will bundle all of the previously planet-specific commendations into a single unit. Darth Hater has some new details on this and other Game Update 2.0 currency tweaks, including new classic commendations which will replace the current Black Hole variant as the default entry-level gear currency.
Star Trek Online explains the nuances of dilithium
Dilithium -- how can Star Trek Online explain it? Perhaps the development team can take and frame-by-frame it to have players mine, refine, and spend it. And that's just what's been done in a new development diary explaining to new players and returning players how dilithium works. It's the game's universal currency, in short, but it also serves to bridge the gap between having plenty of real money and having lots of in-game money with less real money. Dilithium is rewarded to players through several means, but it's awarded as unrefined ore. The refining process is slow, with players having a soft limit of about 8000 refined dilithium a week (veteran and subscription players can refine slightly more). You can also trade it for the game's microtransaction currency on a live market. Once you have it, you can use it to buy new ships, rare crafting items, special gear, and certain Duty Officers. The full guide should answer any lingering questions you have about the currency, although it does not ask at any point if the players are down with dilithium.
Apple adds Rubles and other currencies to App Store, bumps minimum price to €0.89 in Europe
After announcing slightly under par financials, Apple has added more ways it can be paid for apps, though it also bumped the minimum freight to get one across Europe. The new lowest price users in France, Germany, Italy and other nations "over there" can pay for an app is now €0.89, a euro-dime bump from before -- apparently due to the weak euro and local tax hikes. On the other hand, Cupertino also added more currencies accepted at its store: South African Rand, Turkish Lira, Russian Rubles, Indian Rupees, Isreali New Shekel's, Saudi Arabian Riyal, Indonesian Rupish and UAE Dirham can all now be used to pay. Apple has tinkered with its prices before in varying amounts overseas depending on the nation, so you may want to check your own country's App Store for the news -- bad or good.
Guild Wars 2 gems now available in plastic card form [Updated]
Guild Wars 2's Black Lion Trading Company offers more than just a way to buy and sell in-game items; it's also used to buy the game's currency known as gems. These gems can be bought and traded for real money and converted to in-game gold for the purchase of just about anything your Tyrian heart desires. But now ArenaNet is making it even easier to buy the in-game currency through gem cards available for purchase at your favorite retail store. These cards would be perfect as a gift from your grandmother or sweet aunt Vickie, who can help support your crafting obsession without even knowing it. Just tell them that you're really interested in Geology and Gemology. It's a win-win! [Update: ANet has just posted the complete list of retailers offering gem cards. In the US, they are Fred Meyer, Hasting, NewEgg, Fry's, and Amazon.]
