Virtual Currency: SOE Station Cash (SC)

February 23, 2013 | 4 comments

 

I have a fair amount of Station Cash. But what is a virtual currency and what are your rights? A virtual currency differs from a real-world currency in several ways.

  • The virtual currency unit has no legal tender status in the real-world. Legal tender status means a currency can be used to legally settle ‘all debts, public charges, taxes, and dues’.
  • Because the virtual currency is issued and governed by a non-financial private company the currency is shielded from regular financial sector regulations. You have no rights.
  • The actual purchase of virtual currency with real-world currency is unregulated by law. Don’t expect a refund.
  • The non-financial private company issues, governs and manages the supply of virtual currency at will. Expect the virtual currency to become restricted and devalued with something brought in to replace it.

SOE Station Cash

 

I have two SOE accounts each with approx. 25000 Station Cash. I am so frustrated there is nothing worth purchasing with it. I remember when the currency was first introduced and SOE promoted it as a cool new currency that would replace the purchasing power of real-world cash. But eventually SOE took away our ability to purchase subscriptions and expansions with Station Cash.

Now SOE has brought in a new system called Krono and guess what? We can’t buy Krono with Station Cash either.

I blame it all on the Double/Triple Station Cash sales SOE are always promoting. These sales are the source of restriction and devaluation of Station Cash. It’s just not worth buying anymore. SOE want to have their cake and eat it too.

Station Cash Wish-list

 

  • Allow Station Cash to purchase subscription plans
  • Allow Station Cash to purchase expansions
  • Allow Station Cash to purchase Krono
  • Offer real-world cash refunds (a withdraw button like PayPal)
  • Add a lot more in-game items

I know it’s a lot to ask for, and we won’t get any of it. But one can only hope. I did learn my lesson at least. I am never buying virtual currency again!

I really can’t believe I was duped into exchanging a currency that has a real-world value to a currency that has no purchasing power or value whatsoever.

SOE must be laughing all the way to the frakkin real-world bank.

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  • fart

    why would you buy 25000 sc on TWO accounts without knowing what you wanted to buy first? its just a way to make a little extra cash after making their MMO’s free to play.

    • Splotty

      Good question. I purchased SC in bulk when I had a little more disposable income than I do today. I purchased it before all the SC restrictions. I figured the SC would come in useful on a rainy day. Well, that rainy day arrived and I got shafted. I didn’t know SOE would cripple the currency in the near future otherwise I would not have purchased. I can’t get a refund or even buy Krono with my SC stockpile.

  • d_m_t_m

    I think a good solution would be to make SC redeemable as an in-game currency. Then you could sell it in the bazaar, or trade it to others for Krono.

    • Splotty

      Good idea. At least make it worth something.