On Money and Magic

Journal of Virtual Worlds Research vol. 2(4), February 2010

6 Pages Posted: 13 Nov 2017

Date Written: January 2010


“The Bank will strengthen management of the virtual currencies used in online games and will stay on the lookout for any assault by such virtual currencies on the real economic and financial order.” When the world first heard of virtual currencies in the early years of this century, some speculated that there might be a future blending of economy between the real and the virtual. That future came sooner than expected; the statement above was issued by the Bank of China in February 2007, in reaction to a genuine monetary shock produced by the virtual currency QQ Coins.

Keywords: Money, Virtual Currency, Cryptocoins

Suggested Citation

Castronova, Edward, On Money and Magic (January 2010). Journal of Virtual Worlds Research vol. 2(4), February 2010, Available at SSRN: https://ssrn.com/abstract=3068245

Edward Castronova (Contact Author)

Indiana University ( email )

107 S Indiana Ave
100 South Woodlawn
Bloomington, IN 47405
United States

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