Plexcoin - Further conceptionalisation

Previously there was a discussion over whether or not CCP should develop its own cryptocurrency.. I’d argue that much of that discussion was focused too much on the external IRL cryptocurrencies and speculation effects.

What might be more interesting is to consider the place of PLEX first.

What is PLEX?
PLEX is a digital in-game currency. It has a real world value (its hard currency to purchase) yet only has application and legal exchangability in-game.

What would make PLEXcoin different?
It would be more in how its issued and regulated. Presently, CCP sets the price and regularly discounts the price for PLEX. PLEXcoin would differ in that its price would be set by an underlying algorithm that would be one of many things.

  • Mined
  • Indexed
  • A mix of both

Mining similar to Bitcoin has many advantages in that it is a known method of building and distributing a cryptocurrency. The previous discussion rightly pointed out that this would lead to a resurgence in botting in-game.

Indexing was not discussed.

What would an indexed cryptocurrency of PLEXcoin be generated?
One way would be the total value of PLEXcoin could be indexed against the total value of ISK in Eveonline. The October Economic Report states there is 1369 Trillion ISK in the eveonline economy.
If the total amount of PLEXcoins are fixed and the value is set against the base level say from this report. We would see the money supply either increase or decrease based on the total ISK. Any inflation of the economy in-game would result in a fall in the price of PLEXcoin.

There are many ways this could go but there are exciting applications for economy in-game regulation and so many applications of a PLEXcoin associated Blockchain.

Would love a mature discussion on this that doesn’t think of PLEXcoin as purely a bro-Bitcoin discussion. Lets just think about how the game economy could be improved and/or players empowered through an economy not entirely controlled by ISK sinks, code changes and arbitrary CCP PLEX pricing.

No.

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One externally and passively mined “plexcoin” is thus “worth” 65m ISK. They are passively mined on the same basis as Bitcoin using a proof of work system on large server farms where you pay real money for a certain hash rate to generate coins or buy coins that have already been mined there or by others.

The proposal is for an external ISK generating system with minimum controls and too many opportunities for RMT that will fall foul many real world currency regulations and trading restrictions.

For which the only stated in game benefits are:

I completely agree with @Solstice_Projekt: No.

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Private message me if you would like to buy some crypto-fedo’s.

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Send me all your crypto and I double them right away. :wink:

:smirk:

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SilverIllJanenschia-max-1mb

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This again.

Why do this, who cares? What is the benefit?

Make work.

It’s someones get-rich-quick scheme.

He just needs people dumb enough to buy into it and a company with morals low enough to back it.