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1 Summary Money has a long history who walked along with human one evolving himself through. Recently, digital cash such IC cards as Edy, suica, nanaco and so on, prevails here and there. They are called plastic money sometimes. Furthermore, virtual currencys which are available and effective only on internet so far, but whose represent Linden dollar and some gaming money, become convertible to hard currencys such as American dollars via RMT (Real Money Trading). We survey those non-legal moneys and discuss their redeemability and seigniorage. Virtual money Virtual economy Virtual world Virtual goods Virtual so and so Web Web Web 145

2 IC Web Lehdonvirta 2011 Moriyama IC Web Web Web 146

3 L$ Web web MONDEX e-cash issuer acquirer VISA MASTER Credit card PayPal Bitcoin web PayPal Bitcoin Web LETS 147

4 1830 Robert Owen 1930 LETS LETS , PICSY SECSY PICSY picsypropagation Investment Currency System CPU PICSY A B B C C A SECSY Settlement Currency System PICSY SECSY PICSY SECSY 4.Virtual currency MMORPG 2009 MMORPG massively Multiplayer Online Role-Playing Game 148

5 MMORPG web web webjstaff 2012 You Tube SNS Linden Lab L$ 1 $ 270 L$ L$ 0.35 PayPal L$ MIZUHO mizuho CUI 90 Mosaic Web 3D 3 Second Life 3D CPU JTB NEC Web PayPal Bitcoin RMT L$ 3D 149

6 RMT real money trading MMORPG Real Money Trading RMT RMT RMT RMT RMT 1990 MORPG MMORPG RMT RMT RMT RMT HP 2008 RMT 150RMT RMT RMT RMT MMORGPG 2007 RMT 150

7 BOT BOT BOT BOT RMT BOT BOT BOT BOT RMT PK Player Killer BOT RMT BOT BOT RMT 151

8 RMT BOT BOT

9 BOT RMT monetary seigniorage 1 opportunity cost seigniorage 2 GDP k Web 3 Web 153

10 3D web 2007 Web Web RMT

11 ,200 numerical currency PICSY-SECSY 2006 Web L$ Web L$ 3D 155

12 5. BOT RMT MMORPG RMT 2011 RMT RMT web 1 monetary seigniorage 2 opportunity cost seigniorage Felica Mifare Web Bitcoin PayPal LETS PICSY- SECSY *1 *1 PICSY RMT MMORPG QQ *1 2004/823 RMT RMT 156

13 Vili Lehdonvirta and Mirko Ernkvist, 2011, KNOWLEDGE MAP OF THE VIRTUAL ECONOMY, Akio Moriyama, February 2006, A Simple of Money, Credit and Banking, Journal of Economic Sciences, Vol. 9, No / / / /11 BP 2010/9 2007/1 pp ISBN /93D NHK 2006/ / /3 1997/ NTT ISBN pp The Nonprofit Review, Vol. 2, No , JANPORA. 2009/5 ouc. daishodai.ac.jp/profile/outline/shokei/pdf/ /38.pdf 2011 PHP 2012 PHP 2004 Economic Review. 157

14 2002/9 6 1 DJ2010 pp Web webj RMT I T pro, RMT co.jp/cda/special/2007/07/18/ html PayPal: Bitcoin: MIZUHO

Virtual currency RMT real money trading microwork RMT RMT 2. Lehdonvirta 2011/4 3 MMORPG Massively Multiplayer Online Role-Playing Game microwork text

Virtual currency RMT real money trading microwork RMT RMT 2. Lehdonvirta 2011/4 3 MMORPG Massively Multiplayer Online Role-Playing Game microwork text 2013 5 30 Summary Recently, the virtual economy trend has been circulating primarily throughout the Englishspeaking world. Particulary notable is the large-scale crowd sourcing being carried out within

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