1. Why Can't You Trade In Game Money Of Real Money Youtube
2. Trade-in Game Values
3. Why Can't You Trade In Game Money Of Real Money For Sale
4. Why Can't You Trade In Game Money Of Real Money In Usa

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We were all lied to. Growing up, we were sold the misconception that we should follow the traditional career path of working 50-hour weeks to receive a stable paycheck. In short: Get into the office early, stay late and even come in on weekends -- then maybe, just maybe, you'll get a raise one day.

Related: How to Manage Time With 10 Tips That Work

Hopefully, if we worked “long” enough, we'd save enough money to retire at the age of 65.

So, who the hell invented that? Since when was there a rule saying we have to trade our time for money?

In fact, this is one of society's biggest hoaxes. Time is our most important commodity, and all the money in the world cannot replace that fact.

Your income is limited by time.

When you’re trading time for money, your income will always be limited. The first reason: There are only 24 hours in a day to devote to the pursuit of money. And most of us need eight hours to sleep, two hours to commute to and from work and two to four hours, total, to cook, eat, tend to hygiene, relax and spend time with friends and family.

That leaves us with 10 to 12 hours to trade in for income. That’s it. But the reality is that no matter how much your time is worth to your organization: $20, $30, $50 per hour, there will always be a cap imposed here: time.

Another consideration in the pursuit of money is that few of us can just ask for more simply because we want it. We have to wait years before obtaining the necessary job promotion, and there’s a fair chance that we may not get that promotion at all.

The second reason for limits on income is that the more more we make, the more we’ll lose. Employee tax is the most heavily taxed income there is, and the more income we earn, the more tax we face. Which means that when someone goes from making $60,000 to $100,000 due to a promotion, they’re not actually making $40,000 more.

Your impact is limited.

Why Can't You Trade In Game Money Of Real Money Youtube

When we’re continuously trading time for money throughout our lives, time is limited for pursuing the things we’re passionate about. This could be a hobby we love, giving back to the community or building something that could have a real impact in the world.

Simply put, with limited time comes limited impact.

The question is, then, how do we stop trading time for money? Consider getting yourself onto the one sustainable pathway to stop trading time for money. Follow these seven steps:

1. Change Your Mindset

The first thing we must do is change our beliefs. When we drop the mindset that says that in order to make money, we have to trade our time for it, our minds open up to the possibilities. There’s no rule that says that to make X dollars, we have to work X hours. In fact, it’s more important to spend time “un-learning” the old than “learning” the new.

So, think about trading value for money, not time. Think about what value you can create for other people, and how you can deliver that value. What assets, skills, knowledge, connections or ideas do you have that people value? Recognize your strengths and competency, then go all-in.

Related: Forget Time Management. Do This Instead and Be More Productive.

2. Build your expertise and authority.

Once we understand the strengths and value we can bring to others, we next need to build expertise around it. Developing expertise translates into larger value creation for ourselves and others, because we can now solve problems that few others can solve.

However, being recognized as an expert takes time and work, which is why building authority is just as important.

Building authority around your expertise is what will help people discover your expertise in the first place. You could be the best in the world at something, but if no one has heard about you, then it doesn’t matter.

3. '10x the value of your time.'

Not all of us can leap into entrepreneurship in the blink of an eye. This is why if you’re freelancing or providing professional services for your time, multiply your time times 10: '10x the value of your time.'

Instead of working with 10 clients that are going to pay you $2 per hour, find two that will pay you $20 -- then drop the rest. This is easier said than done, of course, but the logic here is to stay focused on the few that deliver the most results.

That way, you'll be working fewer hours for the same, if not more income.

Which gives you more time to…

4. Focus on creating a product.

To stop trading time for money, create an offer that you can sell and deliver without having to be there.

A powerful way to do this is to create an online product -- an ebook, training program, membership program, software apps, etc. You can also sell physical products online, but you’ll have to find someone who can manufacture and deliver the product to your customers (through drop shipping).

The reason why an online product can be powerful is that you can create it once, then focus the rest of your time on selling it. Yes, you’ll have to improve and optimize the product, but those tasks will happen on your own time.

This means you could go on vacation, spend time with friends or sleep and still have the ability to benefit as customers purchase your offerings.

5. Automate everything.

Figure out a way to automate and systemize everything you can in your business. This could range from how you acquire customers, to how you deliver your products, to how you drive traffic -- multiple aspects of your business, whether that means your content calendar, automated email series, webinars, social media posts, facebook ads, etc.

The more you can systemize, the more time you’ll have to focus on the business, not in the business. Your time should be spent on long-term strategy, building relationships and growing the business -- the drivers that will make your business thrive.

Now of course we can’t automate and systemize everything in the business. So what do we do?

6. Hire someone.

Eventually, it just makes sense to hire someone to help you in certain areas of the business. How do we know which areas are appropriate? To find out, create your 3 Lists to Freedom.

This list, designed by Chris Ducker, will change the way you look at your time. Here’s how it works.

First, create three columns with the titles:

1. HATE doing
2. SHOULDN’T do
3. CAN’T do

Get your employee (or assistant, intern, etc.) to start with the tasks you hate doing. Getting past what you hate doing will not only help you appreciate the value of outsourcing tasks, it will maximize the strengths you already have and help you to avoid focusing on your weaknesses.

7. Build your next offering

You’ve built authority, you've built your product and you've figured out a way to automate and hire someone to grow your business. What’s next?

Often, it’s not enough to have one offering out there in the market. The biggest businesses expand into different products/services, or they find a way to upsell their current customers.

Is there a product idea that your customers have been nagging you about? A set of features that you can add to provide a premium pricing package? Understand what your current customers are looking for and figure out a way to deliver it using the systems and resources you already have in place.

Now: Reward yourself

The final step is to reward yourself. What’s the point of having more time if we’re not able to enjoy it?

Spend time with your loved ones, learn something new, or travel the world. We must be able to visualize and reward the results we have achieved in order to associate the notion of having more time as a positive result.

Take the time to recharge, reconnect and do more of what you love. Time is only worth having if you spend its worth. As First Lady Barbara Bush has said, “At the end of your life, you will never regret not having passed one more test, not winning one more verdict or not closing one more deal. You will regret time not spent with a husband, a friend, a child or a parent.”

Related: 10 Ways to Improve the Quality of Your Business Life

Real money trading (RMT) may not be something you read about in your high school economics class, but it's something every massively multiplayer online gamer encounters every day. If the buying and selling of virtual goods using real money isn't something actively encouraged by the game itself, you at least hear horror stories about gold farmers causing prices of in-game goods to go up, or find eBay auctions of in-game items for crazy-huge sums of money.

Earlier this month, the topic of real money trading in MMOs made some ink when a South Korean Supreme Court acquitted two Lineage gamers of criminal charges related to selling in-game currency for actual money. At issue in that case was whether or not the gamers had violated a South Korean law against unsanctioned gambling; but by clearing them of the charges, South Korea effectively legitimized RMT in MMOs.

Don't quit your day job to take up Epic Gear brokering in World of Warcraft just yet, though; RMT is still a sore point for many game developers. In particular, you'll find that games like WoW frown on RMT within their End User License Agreements (EULA) or Terms of Service documents. People who violate those pieces of paper may not go to jail -- but Blizzard can sue the pants off them for breach of contract (not to mention ban your account altogether).

Rutgers University law professor Greg Lastowka explains the legal side of the RMT issue as a case where first, the game developers have to decide how vigorously they want to regulate RMT and second, where players might consider violating the game's EULA because RMT really pays off.

'Most game companies are concerned about the trade of real money for virtual property because they see it as a potential way of creating liability for them,' Lastowka tells GamePro. 'If [fraud] occurs in a virtual world, the game is in the middle, the game company has to be dragged into litigation. So if players can have property rights and legal claims to their virtual property, I think that scares game companies for the most part.'

However, as long as there is no criminal law on the books with a country's government -- like the anti-gambling statute that sparked the South Korean case -- it's all on the game companies to go out and find people who violate their EULAs by engaging in RMT.

This is apparently quite the pain in the ass. Scan eBay auctions right now for Epic Gear in WoW (a game that explicitly bans the sale of in-game items for real money), and you'll find dozens of in-game things for sale, even fully leveled characters ready to be handed over to the highest bidder. Even without Blizzard responding to our request for comment on this story, we can just imagine how much of a headache it would be to keep track of every auction site and track back every contract violation to the actual perpetrator and then sue them for breach of contract in whatever country they're based.

Lastowka sympathizes with game developers' plight. 'Many companies decided that they weren't going to vigorously go out and try to shut down people who are trading real money for virtual property,' he said. 'The can say 'we don't care whether or not you trade virtual goods for money' and in a way with Ultima Online, Electronic Arts basically turned a blind eye to those kinds of trades.'

This attitude among game developers is where RMT turns into a gray area instead of a clear-cut contract violation. 'If the company says you're not allowed to do this while you're on our servers and then they do it, they're liable for contract violation, right?' Lastowka says. 'But some lawyers think that breaching contract in some situations can be socially beneficial. That's called 'efficient breach.' Real money trading is not illegal in the same way that the government says you can't sneak into someone's house and steal their stuff. That's clearly illegal -- but [RMT] is not criminal. It's only illegal in the sense that you could land in court if [game developers] decide to sue you and most of them won't.'

Finding RMT's place within MMOs gets more complicated than EULAs and lawsuits, though. Game developers have to consider whether or not it might actually benefit their company to allow RMT -- and then take a cut of the virtual transactions. Lastowka explains that this is what's going on with Live Gamer in all Sony Online Entertainment games. By moving in as a third party that operates like an online auction site behind the scenes within all microtransaction-based MMOs, Live Gamer is basically engaging in a one-way RMT exchange that benefits both it and SOE -- and the user as well, because it's clearly stated that nobody will sue them or ban their account for paying money to own better items.

A game company could go even farther with RMT and build it directly into the game for users to control. This is how Second Life and Eve Online have always handled virtual transactions; and both companies are enormously proud of the economies that have grown up in-game around RMT.

Linden Labs sent us this statement when we requested comment on their reaction to the South Korea ruling: 'Real money transfers have always been acceptable in Second Life. Linden Lab released this morning that Resident cash outs for 2009 were $55 million USD -- an 11 percent growth over 2008. More than 50 people earned more than $100,000 USD each and the top 25 accounts earned a combined $12 million USD.'

All that money is certainly nothing to sneer at; but it's also something a developer has to work hard to keep track of. We caught up with Eyjolfur Gudmundsson, Lead Economist at Eve Online developer CCP; as far as we can tell, he's the only full-time economist whose job it is to monitor an in-game economy. Even before CCP brought Gudmundsson on in 2007, the Eve Online economy was growing at an amazing rate as users latched onto the RMT mechanics built into the game.

Trade-in Game Values

'All that you needed to make [the economy] work was to get as many people as possible into the game world so that people could specialize,' Gudmundsson explains. 'They actually managed to do that early on. In 2004, they already had 50,000 people online. Today with more than 330,000 subscribers we can say with full confidence that this is an economy that is driven by the players. In economic terms, we can say that the players make the decision on what to produce, for whom to produce, and when to produce it. These are often stated as basic principles of economics and that decision is made by the players, not by CCP.'

Gudmundsson says that the economy in Eve Online follows basic economic principles, even though there aren't real-life economic constraints like the need to buy food for your character to survive. For example, if the player base shoots up, but there aren't enough in-game resources to accommodate them, prices go up; if users get more efficient at mining resources to the point where there's plenty to go around, prices go down.

'The problem I have seen with real money trading to date is that it is often or in most cases it is related to using exploits, hacking, using illegal methods to acquire these items in games,' Gudmundsson explains. 'Therefore, [RMT] has gotten a really bad reputation.'

Issuing a blanket ban on RMT, however, isn't something Gudmundsson sees as entirely practical for an MMO developer or even a government to enforce. Not only is it 'one hell of a monitoring problem' to keep up with every transaction that goes on both inside and outside of a game, he says, but RMT is sort of something that comes with the MMO territory.

'In general, players tend to exchange items between them,' Gudmundsson says. 'If you design a game that has at least two individuals within that game and those individuals can exchange items -- I give you this and you give me that -- you can rest assured there will be a market developed whether you like it or not.'

Instead of RMT being a legal issue or a financial incentive for MMOs, Gudmundsson says it should be a game design issue. 'You have to think about it if your world is supposed to be an open world or a closed world,' he says. 'In an open world, you exchange and [trade] items but since it's an open world, you are restricted [by] real life regulation.'

A closed world game, however, doesn't have to use real life rules because it's not supposed to be real life. 'It's like going to a theater,' Gudmundsson explains. 'You're living in an alternate universe. And therefore it's important that those worlds be kept apart, that they can work and function by themselves. The restrictions would then be that those games cannot exchange the items outside of the game, even though players can still exchange with in the game -- this is completely different. So when people are thinking about these game transactions, they have to make a distinction between open world on the one hand and closed world on the other.'

Ultimately, defining and regulating RMT all comes down to the game developer on the legal side, the financial side, and the gameplay side. With rulings like the one in South Korea this month attracting the attention even of gamers who can't balance a checkbook, turning a blind eye to RMT might not be an option anymore.

Why Can't You Trade In Game Money Of Real Money For Sale

Why Can't You Trade In Game Money Of Real Money In Usa