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Virtual Property Investor Recoups Investment

samzenpus posted more than 8 years ago | from the exciting-new-investment-opportunity dept.

The Almighty Buck 208

afaik_ianal writes "Remember that guy who bought a virtual island in "Project Entropia" for £13,700? Well BBC is reporting that that he has managed to make his money back in under a year. According to the article, 'He made money by selling land to build virtual homes as well as taxing other gamers to hunt or mine on the island.'"

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Wow. (-1, Offtopic)

Anonymous Coward | more than 8 years ago | (#13994500)

FP!

Re:Wow. (3, Funny)

LiquidCoooled (634315) | more than 8 years ago | (#13994655)

Ahem, this first post land is currently owned by CmdrTaco

You must pay rent to use this space.

Forward funds to his account immediately or you will be evicted.

Old proverb (1, Funny)

Anonymous Coward | more than 8 years ago | (#13994501)

"When (your stupidity) dealt you a lemon, you make lemonade"

Re:Old proverb (-1, Flamebait)

rhetoric (735114) | more than 8 years ago | (#13994526)

"When (your stupidity) dealt you a lemon, you make lemonade"

God == (your stupidity)

BAHAHAHAHAHHAHAHA =D

Re:Old proverb (-1, Flamebait)

rhetoric (735114) | more than 8 years ago | (#13994583)

lmao @ god modding me flamebait :D cant post AC because of some idiot(s) on my subnet...

Clever angle though (2, Interesting)

EmbeddedJanitor (597831) | more than 8 years ago | (#13994564)

Spending big money does seem silly, but spending a few bucks here and there for a virtual subdivision is perhaps not (eg. a $20 gift to that game-nut pal). What this guy has done is create a service whereby he can onsell his asset at a low price point. Not really that stupid after all.

Re:Clever angle though (4, Insightful)

ImaLamer (260199) | more than 8 years ago | (#13994644)

What this guy has done is create a service whereby he can onsell his asset at a low price point. Not really that stupid after all.

The same rules apply in the virtual world. You've got an area you call your own, the resources on said area are also your own. You could try to get a return on your investment by holding these resources until the time is right to sell, sell off portions of the resource or do nothing and be happy spending money.

Would you live on a farm that produced no product? If there were natural resources such as gems, petroleum or even attractions like waterfalls wouldn't you be at least thinking about ways to make money on them? Sure, there are some that would let people see the attraction for free, ignore the value of minerals that must be harvested in crude ways or refuse to let people shoot their animals and hook their fish for any reason, especially for money.

It's exactly like buying an island and turning a third into a resort, a third into destination spots (businesses, pristine land, room for activities) and leaving the remainder to your own enjoyment.

I mean, this guy does hunt on his own virtual island right?

Re:Clever angle though (1)

EmbeddedJanitor (597831) | more than 8 years ago | (#13994756)

I mean, this guy does hunt on his own virtual island right?

I hope he eats what ke kills.... or does he just put virtual trophies on the virtual walls?

Bank loan (5, Funny)

ebsf1 (689864) | more than 8 years ago | (#13994505)

Hmm...I can see it now. Yes Mr Bank Manager...I'd like a loan to buy an island. Where is it? Well...it's virtual...

Re:Bank loan (1)

shintaro (731020) | more than 8 years ago | (#13994591)

I have unit trusts that are linked to his island. Buy them at makemerich-stupid.com. Buyer gets virtual holiday at virtual island.

Re:Bank loan (3, Funny)

lordofthechia (598872) | more than 8 years ago | (#13994615)

"I'd like a loan to buy an island."

So do they come to get you in the real world or the online world if you default. Be pretty funny if the bank had its own guild.

Re:Bank loan (1)

HeroreV (869368) | more than 8 years ago | (#13994879)

It's only a matter of time I suppose. Banks have owned crazier things. A local bank here owns a peach farm, and that's just the beginning.

fp? (-1, Offtopic)

Anonymous Coward | more than 8 years ago | (#13994506)

first?

Who?

So this proves... (5, Funny)

nelomolen (128271) | more than 8 years ago | (#13994513)

that either this guy is incredibly smart and the people who bought into his virtual property are incredibly stupid, or that he's incredibly stupid and everyone who bought into his virtual property is... well, still incredibly stupid.

-barton

Re:So this proves... (1)

blew_fantom (809889) | more than 8 years ago | (#13994628)

i second the incredibly stoopid thing. the people who actually bought "land" from this guy i'd say is stoopider than the guy who bought the entire island in the first place.

Re:So this proves... (3, Insightful)

Lemmy Caution (8378) | more than 8 years ago | (#13994787)

The funny thing is, this analysis may apply to the real estate market in the real world, as well.

Re:So this proves... (1)

John Miles (108215) | more than 8 years ago | (#13995277)

The funny thing is, this analysis may apply to the real estate market in the real world, as well.

Not exactly. A $25K/year intern with a warezed copy of 3DSMax can't create a new resort island in the real world.

Re:So this proves... (1)

Phwoar (586006) | more than 8 years ago | (#13994801)

Except, the guy is actually making money off it. It's likely that some of the smaller buyers are making money too, but they're just not well off enough to splash out on a whole island for themselves. It's proved to be a worthwhile investment, so there's not exactly all that much stupidity involved.

Virtual Property (5, Insightful)

lukewarmfusion (726141) | more than 8 years ago | (#13994533)

Virtual Property, eh? Not at all like domain names, right?

Online "property" has as much value as people are willing to pay for it. This is why we spend thousands of dollars on shiny rocks and metals (to say nothing of the diamond cartel). This is also why we hold onto generally worthless items because of sentimental value. (I had my Chuck Taylor All-Stars for years after they were too worn out to wear).

So I'm not surprised that this guy is making money. He found something that he expected people would want, and snatched it up so he could be the one to sell it to 'em.

Re:Virtual Property (-1, Flamebait)

Anonymous Coward | more than 8 years ago | (#13994673)

Online "property" has as much value as people are willing to pay for it.


Hey guess what you fuckin' economic genius, THAT IS BY DEFINITION THE VALUE OF ANYTHING.

Fuck this place fuckin' SUCKS now--even the editors obviously think it sucks, posting duplicate stories, full of retarded, undue editorialization, idiotic comments moderated to +5 insightful. That fuckin seals it -- I quit. I vow to never read again.

Re:Virtual Property (1)

gardyloo (512791) | more than 8 years ago | (#13994811)

Fuck this place fuckin' SUCKS now--even the editors obviously think it sucks, posting duplicate stories, full of retarded, undue editorialization, idiotic comments moderated to +5 insightful. That fuckin seals it -- I quit. I vow to never read again.

      Ah-hah! You lie. I've seen all sorts of your posts since you said that, you crafty A.C.

Re:Virtual Property (0)

Anonymous Coward | more than 8 years ago | (#13994870)

You're missing the whole point of Slashdot. The reason to read the comments is to see what retarded bullshit the Slashdot lemmings (Slemmings???) spout off about the latest bullshit that the "editors" decide to post. It's like watching a train wreck - so horrible you just can't look away....

By the way, Slashdot always sucked. It wasn't any better back in the "good old days." [archive.org] Don't let anyone tell you any different.

(On a side note, the script confirmation word right now is "distress." How fitting.)

Re:Virtual Property (2, Interesting)

Saeger (456549) | more than 8 years ago | (#13994789)

Unlike in Real Life meatspace, (an instance of) virtual property doesn't have to be scarce, but it's almost always modeled into games that way. It's easy for people to relate to I guess, and allows for status and old-fashioned empire building.

I'd like to see abundance modeled into more game worlds. I mean there's no good reason (other than familiarity) for virtual realestate to be kept artificially scarce in a game where "space" isn't real -- your 10,000 acre slice of paradise could exist anywhere with multiple doorways between other and a shifting "shared map". Only requires a slight adjustment in thinking to eliminate the old construct.

At least in SecondLife you can dupe your objects as much as you want (within reason) and even assign to them a GPL-ish license. The realestate situation is a bit more artificially limited though.

Real Life (TM) (1)

Doc Ruby (173196) | more than 8 years ago | (#13994536)

All we are is walkon extras in someone else's sim. Reboot yourself!

Re:Real Life (TM) (5, Funny)

BushCheney08 (917605) | more than 8 years ago | (#13994666)

Reboot yourself!

I'm trying, but I'm having a hard time getting the paperclip in the hole on my backside. Can you give me a hand?

Re:Real Life (TM) (1, Funny)

Anonymous Coward | more than 8 years ago | (#13995100)

you must be the worlds biggest tight-arse if you can't get a paper clip up your bum.

It looks like . . . (1)

MexicanMenace (673792) | more than 8 years ago | (#13995179)

you're trying to reboot yourself.

What kind of help would you like?

  • A mirror
  • A visit from AWESOM-O

games of economy (0)

Fractal Dice (696349) | more than 8 years ago | (#13994550)

Perhaps he should build a pyramid with the money he has made from this scheme?

Re:games of economy (1)

benjamindees (441808) | more than 8 years ago | (#13994567)

Hmm... is there a MMORPG that allows one to enslave other players and put them to work building pyramids?

Re:games of economy (2, Funny)

LiquidCoooled (634315) | more than 8 years ago | (#13994684)

The scary part is that some percentage of people would actually put up with it and pay a subscription fee for the privilege.

Call it "stargate - in the beginning" and you would triple the players instantly.

Freedom. (0)

Anonymous Coward | more than 8 years ago | (#13994566)

Holy freedom Batman! Why can't real life be like that? I guess that's why we have games.

A link from the Past (1, Redundant)

Hack Jandy (781503) | more than 8 years ago | (#13994570)

Re:A link from the Past (0)

Anonymous Coward | more than 8 years ago | (#13994771)

Slashdot, Zelda's second kingdom.

Re:A link from the Past (0)

Anonymous Coward | more than 8 years ago | (#13995097)

A later post [slashdot.org] was modded up funny. let's get some consistency here, moderators.

Developer's Giddy (4, Interesting)

cbrhea (929943) | more than 8 years ago | (#13994576)

Now they can create another virtual island that's even sweeter and sell it for even more money.

copy virtual_island1 virtual_island2
print money

Not a bad deal for the island-buyer either, as long as they've determined the risks, ie. the game's subscriber base withering away.

Re:Developer's Giddy (1)

ShortBeard (740119) | more than 8 years ago | (#13994716)

copy virtual_island1 virtual_island2
print money


Don't you mean...

cp virtual_island1 virtual_island2
ls -O raw money.ps

Opportunity costs? (1, Interesting)

Anonymous Coward | more than 8 years ago | (#13994578)

So this guy's time and effort are worthless, then? That's not to mention what else he could have done with that money (money market account, CD, etc.).

Re:Opportunity costs? (0)

Anonymous Coward | more than 8 years ago | (#13994713)

He made his money back in 1 year. I'd like to see you make a 100% profit in 1 year with your alternatives.

Uhh, put in in the bank at zero interest (2, Insightful)

Ogemaniac (841129) | more than 8 years ago | (#13994743)

and you have "made your money back" instantaneously!

This guy may have beaten the interest rate on a CD, but a CD doesn't require hundreds of hours of micromanaging, either.

Re:Uhh, put in in the bank at zero interest (1)

John Meacham (1112) | more than 8 years ago | (#13994832)

but day trading does, and people do that, often loosing a large amount of their investment. So this guy fared pretty well.

Re:Uhh, put in in the bank at zero interest (1)

afabbro (33948) | more than 8 years ago | (#13994924)

Um, no he didn't. He faired rather poorly. First, his money is worth ~3% less today than it was a year ago due to inflation.

If he'd put the money in a U.S. Treasury bill (aka the risk free rate), he'd have made ~4.125%. So his net gain was 1.125%. THAT is what alternatives should be compared to, because any idiot can do that. Comparing it to what some fool does in day trading is completely specious. -3% vs. 1.125% - it's obvious that "recouping his investment" is a poor decision.

Of course, he might have (in order of ascending interest rates) a mortgage, car loan, or credit card bill. If he could have paid off 24% credit card debt, then he was really stupid.

(Of course, presumably he got some pleasure or emotional satisfaction from this endeavor, but as an investment, it was daffy).

Re:Uhh, put in in the bank at zero interest (0)

Anonymous Coward | more than 8 years ago | (#13995012)

How do you tighten a large amount of money? You can't. That's why you should have written LOSING. Oh well.

Re:Uhh, put in in the bank at zero interest (1)

fabs64 (657132) | more than 8 years ago | (#13994833)

Except he still has the virtual "property" you lout, and therefore has effectively doubled his money if the island's market worth is still the same.

Re:Uhh, put in in the bank at zero interest (0)

Anonymous Coward | more than 8 years ago | (#13994949)

how could he still have the property if he sold parts of it?

Re:Uhh, put in in the bank at zero interest (1)

fabs64 (657132) | more than 8 years ago | (#13995263)

fine then, doesn't have all but still has enough to keep charging hunting taxes etc.

Re:Uhh, put in in the bank at zero interest (1)

tk2x (247295) | more than 8 years ago | (#13995023)

It doesn't say he sold the entire island. It just says he made his money back in less than a year.

Assuming he still has a large portion of the island, he could make much more.

Re:Uhh, put in in the bank at zero interest (1)

DreadfulGrape (398188) | more than 8 years ago | (#13995058)

You guys are missing the point completely. He didn't "cash out." He stills holds most of his original virtual investment. From the article:

"We've really only just begun with the estate sales and land management, there is still more room for growth and revenue with the untapped resources surrounding the land."

So it stands to reason that if he recouped his investment in a year, he could double it (or more) a year from now. Put another way, it's not like buying a house; it's like buying 1000 acres and subdividing to maximize profits.

Really depends on the source of earnings. (1)

krunk4ever (856261) | more than 8 years ago | (#13995175)

I don't agree with your analogy at all, especially comparing it to a CD. What's hard to say is how much of the initial investment was "resold" and how much of the the earnings were from taxes and fees that he's collected. If 100% of his earnings came by reselling property, then I'd agree this was a pretty poor investment. It's like buy $26k of stock and reselling the stock for $26k a year later. Practically no earnings.

However, if only 50% of his earnings came from reselling property, and the other 50% came from taxes and fees he's charging people, then I'd say he fared quite well. That means he still has 50% of virtual property left (or even more, depending on how he much he's reselling property for) and it also means for a 50% return on his investment. Tell me another investment that'll give you 50% return in just 1 year. And this 50% return will probably carry year over year.

Re:Opportunity costs? (1)

afaik_ianal (918433) | more than 8 years ago | (#13994843)

Most people will happily pay good money to play MMORPGs. Sure, he has lost the opportunity cost of having his money invested elsewhere, but will still make that back by the sounds of things.

Assuming he turns a real profit, we should remember that he has done it while playing a style of game that most people happily pay to play.

He hasn't lost his entire investment like I think we all assumed he would when we first heard about this last year.

New investment idea (1, Funny)

Anonymous Coward | more than 8 years ago | (#13994581)

If anybody missed this opportunity, I have a bridge to sell in Brooklyn, New York. You keep 100% of the toll revenue of thousands of cars daily. Cash only please.

In Virtual Soviet Russia (0)

Anonymous Coward | more than 8 years ago | (#13994607)

Virtual investments recoup you!

Virtually.

Smart Guy (1)

dudeX (78272) | more than 8 years ago | (#13994646)

Obviously this guy understood capitalism and the history of the United States. The US was able to become very profitable because it took land from the Native Americans and did something unheard of to the indigenous poeple; put a value on land.

Whoever makes a claim to that land is now able to make money by selling parts of it, and collecting revenues and rent from the use of the land. This will definitely enrich the land owner as long he has the threat of force to enforce his terms.

Re:Smart Guy (3, Insightful)

Flower (31351) | more than 8 years ago | (#13994741)

No. This guy understood the phenomenon of the pet rock and the wisdom of "There's a sucker born every minute."

Re:Smart Guy (1)

TouchyFeely (923528) | more than 8 years ago | (#13995001)

uh.. the reason America became profitable is becuase settlers took the land and did something USEFUL with it - we built factories, mines, businesses, oil wells, farmland, raised cattle etc.

Then we sold those good and services to other countries. Apart from limited farming, the indians didn't do much of anything commercially productive with it.

And guess what, the American settlers didnt do anything that hasnt been going on since the dawn of humanity - The stronger, more robust and more advanced societies replace the weaker ones, often by force. It's part of the human condition and it aint gonna change any time soon.

Re:Smart Guy (1)

zippthorne (748122) | more than 8 years ago | (#13995039)

Indeed. and a very large part of that strength was sheer numbers. If you want to have an idea of what happens to a society that fails to produce enough new people and instead relies on foreign workers to maintain their standard of living, take a look at france these past few weeks. The US is surely not all that far behind.

Re:Smart Guy (1)

TouchyFeely (923528) | more than 8 years ago | (#13995049)

Mexifornia? Mexazona? I cant wait!

Re:Smart Guy (1)

kd5ujz (640580) | more than 8 years ago | (#13995200)

They may not have done anything commercial with the land, but it was a means of survival. You are born without a dollar, and you die without a dollar. It was how they survived day to day, so it was priceless to them.

Re:Smart Guy (1)

TouchyFeely (923528) | more than 8 years ago | (#13995327)

But for the settlers, making the land commericially productive was THEIR means of survival. Whether or not it's morally or ethically ok as judged by our modern society doesn't really change the fact that America was rich in untapped potential and the Indians hadn't utilized it to build empires, raise vast armies, develop science and weapons etc. Thus when the inevitable struggle over Earth's limited resources ensued they were doomed to loose from the start.

Even the Aztecs, who had vast numbers, a warlike heritage, and considerable wealth were quickly wiped out by just a few hundred Spaniards under Cortez.. they should have killed Cortez outright when they had the chance. Instead they really fucked themselves over by projecting their own expectations and customs onto Cortez, who had little regard for them and their ways. He capitalized on it and managed to bring down an empire of hundreds of thousands with just a few men. Well, that and the fact that the Aztecs were surrounded by hated enemies from theirmany years or wars and sacrificial-slave taking.

It'd almost be worth buying an acre or two (3, Funny)

Flower (31351) | more than 8 years ago | (#13994648)

just so I could trash the place up and bring the property values down. Cut down some of that scenic view to build my shack, grab some low-res tires to plant some flowers that I can't keep alive alive anyway and play a boombox so I can blast techno/rap/heavy metal gospel across the neighborhood. Mow the lawn? You gotta be kidding me.

And nobody better be touching my still out in back....

Re:It'd almost be worth buying an acre or two (1)

pastpolls (585509) | more than 8 years ago | (#13994671)

I wonder is there is a homeowners association. Could I move in a trailer and put some virtual cars up on blocks? Can I have my character gain 300 pounds and run around in a "wife beater" and jeans shorts? I may have to start playing these games just to play virtual white trash.

Re:It'd almost be worth buying an acre or two (1)

Allison Geode (598914) | more than 8 years ago | (#13995151)

then you'd be a griefer.... which raises very good questions: are real white trash the real-world equivilent of griefers?

So... how is this taxed? (1, Insightful)

Anonymous Coward | more than 8 years ago | (#13994661)

I assume this is a capital gain. I'd love to see the IRS, or Inland Revenue (they don't say what country the gamer lives in) have a field day with this. It would make a funny court case!

ISS (0)

Anonymous Coward | more than 8 years ago | (#13994710)

Last month, another of Entropia's virtual properties - a virtual space station - sold at auction for £57,000.
well I can't afford to pay $1M to go to the ISS but I guess I could pay $1K for this, just hope they accept my WTF currency

Glorified Slots machine (5, Insightful)

Anonymous Coward | more than 8 years ago | (#13994725)

Project Entropia's fundamental idea is that everything in game has a real-world value. You begin the game with nothing; and must purchase in-game items with real money. Items you use to harvest resources, kill monsters, or any other activity which generates saleable objects in the system decay over time. You give Project Entropia money to buy objects in game, that money flows into MindArk. When you sell an object and withdraw real life cash, that money flows away from MindArk.

Given that, the Project Entropia system cannot generate rewards greater than the amount of money fed into the system, minus however much MindArk takes off the top.

You are using a virtual tool that decays, purchased with real money, attempting to generate a positive income in a system already rigged to prevent such a scenario on average. Your tool will break, and you will buy another one, in the hopes of getting that big payoff. It's a gambling system dressed in some livelier colors.

Re:Glorified Slots machine (0)

Anonymous Coward | more than 8 years ago | (#13994767)

I wonder how many people can use this system to avoid taxes or for money laundering.

Re:Glorified Slots machine (2, Insightful)

fabs64 (657132) | more than 8 years ago | (#13994846)

Project Entropia's fundamental idea is that everything in game has a real-world value. You begin the game with nothing; and must purchase in-game items with real money. Items you use to harvest resources, kill monsters, or any other activity which generates saleable objects in the system decay over time. You give Project Entropia money to buy objects in game, that money flows into MindArk. When you sell an object and withdraw real life cash, that money flows away from MindArk. Given that, the Project Entropia system cannot generate rewards greater than the amount of money fed into the system, minus however much MindArk takes off the top. You are using a virtual tool that decays, purchased with real money, attempting to generate a positive income in a system already rigged to prevent such a scenario on average. Your tool will break, and you will buy another one, in the hopes of getting that big payoff. It's a gambling system dressed in some livelier colors.


You mean... effectively like every capitalistic economy in the world?

Re:Glorified Slots machine (0)

Anonymous Coward | more than 8 years ago | (#13995352)

hm, if youre going to make that comparison, then its not limited to "capitalist" economies. Its *every* type of economy. But I know that didnt fit in with your agenda. Hope you experience great properity. Everyone I know that wanders thru life with blinders on always has lots of it! Enjoy.

Re:Glorified Slots machine (1)

rhetoric (735114) | more than 8 years ago | (#13994943)

It's a gambling system dressed in some livelier colors.

Yeah and 13yr old kids in Iowa can play too :D

Re:Glorified Slots machine (1)

Pfhreakaz0id (82141) | more than 8 years ago | (#13995178)

Yeah and 13yr old kids in Iowa can play too :D

yeah, because none of them are playing online poker, I'm sure.

Re:Glorified Slots machine (1)

ad0gg (594412) | more than 8 years ago | (#13995287)

Given that, the Project Entropia system cannot generate rewards greater than the amount of money fed into the system, minus however much MindArk takes off the top.

Sounds like day trading the stock market. You can't make money unless other people put in money.

Just another Luxury (3, Insightful)

e2d2 (115622) | more than 8 years ago | (#13994736)

This got me to think a bit, how is this any different from buying an over priced pair of shoes? or a nice car that costs $250k USD? Or a diamond necklace that is not truly rare at all? It's an idea that is being sold, and idea that this particular exchange has value. Market value, someone is willing to pay.

I personally don't see the need or even want in this but it's not my money..

Error (1)

Anonymous Coward | more than 8 years ago | (#13994744)

We're sorry, but the person who posted this comment neglected to pay for comment space.

His/Her comment will not be displayed.

haha! (1, Redundant)

stagl (569675) | more than 8 years ago | (#13994751)

everyone thinks they know everything, as long as they are behind a computer. i just scanned the old article and ran across this! [slashdot.org]

Re:haha! (0)

Anonymous Coward | more than 8 years ago | (#13995084)

And you're the third poster I've seen so far that's found that message. Congrats.

Time involved? (5, Insightful)

jebiester (589234) | more than 8 years ago | (#13994770)

It would be interesting to find out how much time he spent selling his sub-divisions or enforcing his taxes. If this took the equivalent of a full time job or a lot of time, he hasn't necessarily made any money back, just earned a small wage as well as loosing part of his initial investment in the sales.

Re:Time involved? (1)

Flower (31351) | more than 8 years ago | (#13995002)

Having never played the game I can't say but I wouldn't be surprised, if the developers thought it out, that he could script the taxation. Go onto island aim gun and shoot, then get a pop-up window stating how many PEDs it's going to cost to bag the animal. I could see mining done the same way. The actual selling of property I would see as wanting to keep as a manual process allowing the option to maximize profit and have some fun bargining with the other players.

Re:Time involved? (2, Insightful)

SsShane (754647) | more than 8 years ago | (#13995063)

For someone to invest so much money, he probably enjoyed every minute of it.

Silly me... (1)

Hosiah (849792) | more than 8 years ago | (#13994799)

All this time I thought playing video games was about having fun and getting a high score!

the greater fools (1)

vykor (700819) | more than 8 years ago | (#13994821)

Ah, the greater fool theory of investment in action. "No matter how much I pay for this, a greater fool than I will pay even more."

Or several greater fools, in this case.

but (1)

bLindmOnkey (744643) | more than 8 years ago | (#13994824)

think about this for a second. This guy invested $13000 and made it back in a year. So after a year or so he has not gained any profit. In a year you could have a job making $13000 profit. Sure maybe next year he'll have made 13000, but this is just breaking even. No big deal.

Wal-Mart and McDonald's Pay Better (1)

queenb**ch (446380) | more than 8 years ago | (#13994854)

Basically what you're saying is that this guy worked his a&& off for weeks or months coding this thing before he even brought it on line, and then worked his a&& off managing it for a year. If he's only made $13,000, assuming a 6 month development period, he's been working for a whopping $4.16 per hour.

Wal-Mart checkers and McDonald's burger flippers make better money.

2 cents,

Queen B

Re:Wal-Mart and McDonald's Pay Better (1)

revmoo (652952) | more than 8 years ago | (#13995006)

Yes, but think about how this will enrich his resume(rolls eyes) :)

Re:Wal-Mart and McDonald's Pay Better (0)

Anonymous Coward | more than 8 years ago | (#13995076)

That's assuming he's not doing some actual work aside from just running his little island. He could manage a site, work from home, any number of things, and the fact that he had $13,500 lying around gives one the impression that maybe he has some form of inheritance. His one investment is being pretty quickly earned back in addition to whatever other income he may have.

FU3K A BITCH (-1)

Anonymous Coward | more than 8 years ago | (#13994839)

stupid. To the for election, I ago, many of you (I always bring my continues in a irrecoverable PosTs. Due to the and Michael Smith the most. Look at she had no fear GNAA (GAY NIGGER yes, I work for vitality. Its Person. Ask your there are the numbers. The in ratio of 5 to To use the GNAA Whether to repeat All our times have Where it belong5, needs OS. Now BSDI walk up to a play for trolls' as fittingly Downward spiral. are 7000 users Encountered while long term survival The resignation endless conflict (I always bring my had at lunchtime you. The tireless have an IRC client downward spiral. In operating systems, Prospects are win out; either the in a head spinning out of business copy a 17 Meg file you got there. Or

Advice.... (5, Funny)

greenguy (162630) | more than 8 years ago | (#13994931)

Everyone always told me to invest in land, because "they're not making any more of it!"

Little did everyone know....

bizn4tch (-1)

Anonymous Coward | more than 8 years ago | (#13994959)

on an endeavour never heeded code.' Don't f4ct there won't Members' creative Baby take my ransom for their much as Windows to the transmission in eternity...Romeo things the right and was taken over Trying to dissect right now. I tried, tossers, went out A conscious stand and/or distribute don't want to feel those uber-asshole task. Research counterpart, are allowed to play developers. The shower Don't just If you have being GAY NIGGERS. Was in the tea I BSD machinesE,

like .com stock (1)

chandoni (28843) | more than 8 years ago | (#13994973)

Reminds me of the time I bought into the slashdot IPO.

Kind of like the US Federal Reserve (1)

Scott7477 (785439) | more than 8 years ago | (#13994995)

I haven't read the terms of use of this MMORPG, but I wonder what guarantees these buyers have that the game sysadmins won't decide to create another virtual island and sell it to someone else, devaluing the pre-existing virtual properties? When central banks see times getting tough, the temptation to just print money has proved irresistible in the past.

Virtual island? pssshhhht that's nothing. (1)

pestilence4hr (652767) | more than 8 years ago | (#13995024)

This guy bought a space station, and wants to make it a disco. And it only cost him a cool $100 grand.

Re:Virtual island? pssshhhht that's nothing. (1)

pestilence4hr (652767) | more than 8 years ago | (#13995035)

I swear I hit "preview". Here's the link [yahoo.com]

Opportunity Costs? (2, Insightful)

scishop (622414) | more than 8 years ago | (#13995044)

So he managed to regain his investment, but what could he have made with his time and money if spent elsewhere. In a CD the money would have easily been earning 5% annually and could have potentially returned much more if put into more risky investments. More importantly what could he have earned if he spent his time working at some other occupation instead of hyping his real estate? You can easily earn over £13,700 working a real job in a year. Opportunity costs are the name to the game here.

It takes guts (1)

Argonne (913222) | more than 8 years ago | (#13995060)

Project Entropia? It takes guts to make up something that sounds like a paradise of entrails. I guess "The Intestinet" was already taken.

All your virtual items are belong to us! (3, Informative)

Anonymous Coward | more than 8 years ago | (#13995068)

From the "Project Entropia Conditions of Use":

As part of your interactions with the System, you may acquire, create, design, or modify Virtual items, but you agree that you will not gain any ownership interest whatsoever in any Virtual item, and you hereby assign to MindArk all of your rights, title and interest in any such Virtual item.

From the sound of it, the user doesn't own anything... I wish I could sell nothing for $100,000.

And then there's the space station... (1)

jpellino (202698) | more than 8 years ago | (#13995086)

Jon Jakobs just bought the virtual space station for $100G, he's going to turn it into a cross between Jurassic Park and a disco.

As Dave Barry is so fond of saying, I am not making this up.

Speaking of which... (1)

ScaryMonkey (886119) | more than 8 years ago | (#13995115)

I've got some "virtual property" to sell you! I'm giving you a chance to invest early, too, because the property is so exclusive that right now it exists only in my own mind! Strike while the iron is hot! And, I'm willing to let you have it at BARGAIN BASEMENT prices! Checks and credit cards accepted.

Where will it end? (1)

click2005 (921437) | more than 8 years ago | (#13995119)

Advertising the virtual land when they sell other real estate that devalues his? Will he put Google adwords billboards on the land? How about branded game items? I hear JCB is doing a great deal on virtual backhoes. . But I guess at the end of the day buying virtual land is no different to buying virtual music like mp3s.

kinda dumb? (1)

digitallysick (922589) | more than 8 years ago | (#13995174)

i guess he made his money back, must be a popular game, with alot of people that dont get laid playing it to the extent that they would actually "pay" to do anything on a game?? lol
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