Diablo® III

Auction Houses Up and Running

05/10/2013 09:40 PMPosted by John Hight
We'll also be donating all proceeds from auctions conducted by the suspended or banned players—including all of THEIR sale proceeds that we intercepted as well as our transaction fee—to Children’s Miracle Network Hospitals.


That made my day. Thanks very much John for the update.
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Bravo, Blizz. :')

... Reading comprehension is whaaaaaaaat.


05/10/2013 09:50 PMPosted by Jt3z
Did you not read the post moron?


Let's try to be smart and go after a guy who just read between the lines.

05/10/2013 09:40 PMPosted by John Hight
As of this this post, we have already recaptured more than 85% of the excess gold from the accounts involved, and over the days ahead we will continue to pore over our audit data to reclaim as much duplicate currency as possible.


Even 15% of TRILLIONS is more than enough to rock the economy. If you're going to call the guy a moron, don't make yourself look like one.


Well suggesting a roll back is too late, very few people were giving constructive criticism when the AH was down. At first I support the roll back, then when I found 8 legs and gone up to 10 PG lvls I didn't want the roll back, and it was also too late, Idk if you where one of those people who were still QQing for a roll back after TWO DAYS, but people didn't seem to understand that the roll back would hurt a lot of the players progression, people need to drop the roll back idea after 12 hours, but it just seems like the "heard mentality" in these forums is contagious.
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I am thankful for the decision not to roll back everyone. I have recent returned and made a lot of progress myself since the latest patch.
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Cool



^^^ Brilliant idea


Yeah because they will simply write it off as a charitable donation on their taxes and the rest of the taxpayers (YOU) will actually be the one paying for it.

I bet you wanna vote for Obama a third time don't you?


What is wrong with donating and getting a tax write off? I know Romney voters that have done donations too, so what is your point?
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I think the problem here is inequality.

Whether the markets stabilize or not, there will be those who became billionaires just by being online when the bug was discovered, and started selling trash/ gems for billions,

And those who did not or would not benefit from this bug will be left behind in terms of gear purchasing power.

If and when the new items/ expac comes along, those with better gear will farm the items first, and leave the rest buying from them.

Makes me wish I could rollback time and profit greatly from the bug, knowing that I get to keep the billions from gem profits.
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What most of you idiot's claiming they are removing all the duped possible gold don't understand is one simple fact. A ton of this duped gold was bought with USD. They refuse to remove that gold even though they know exactly where it is. Why? Simple, people who spent hundreds of dollars will suddenly have nothing. That will cause a huge outrage. So yes the USD is going to charity that was the only option to save face. Because the fact of the matter is duped gold will remain and it will effect the economy. The only winners here are the ones who spent USD the day the patch went live. I unfortunately spent 60 USD the days before the patch. Yet i'm broke in comparison now...
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Thanks Blizz. I'm glad the problem is fixed and that a charity will benefit from it.
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THats awesome!!!!
Thanks for the reply. +1 for the charity. I reread the whole thing couple times ;D
so awesome.
~~
Happy hunting in-game!
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05/11/2013 09:55 AMPosted by Thunderkleez
What most of you idiot's claiming they are removing all the duped possible gold don't understand is one simple fact. A ton of this duped gold was bought with USD. They refuse to remove that gold even though they know exactly where it is. Why? Simple, people who spent hundreds of dollars will suddenly have nothing. That will cause a huge outrage. So yes the USD is going to charity that was the only option to save face. Because the fact of the matter is duped gold will remain and it will effect the economy. The only winners here are the ones who spent USD the day the patch went live. I unfortunately spent 60 USD the days before the patch. Yet i'm broke in comparison now...


Don't buy gold when there's a gold dupe obviously active?

The market reflects that John Wight is telling the truth.

RS prices almost normalized not even 24hours in.
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05/11/2013 10:03 AMPosted by AteUp
What most of you idiot's claiming they are removing all the duped possible gold don't understand is one simple fact. A ton of this duped gold was bought with USD. They refuse to remove that gold even though they know exactly where it is. Why? Simple, people who spent hundreds of dollars will suddenly have nothing. That will cause a huge outrage. So yes the USD is going to charity that was the only option to save face. Because the fact of the matter is duped gold will remain and it will effect the economy. The only winners here are the ones who spent USD the day the patch went live. I unfortunately spent 60 USD the days before the patch. Yet i'm broke in comparison now...


If you spent money on fake gold then might I suggest a handgun, one bullet, and your head. That will solve the problem.


This community and it's inability to understand or read baffles me. Try re-reading it a few times.
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05/11/2013 10:03 AMPosted by BurningRope
What most of you idiot's claiming they are removing all the duped possible gold don't understand is one simple fact. A ton of this duped gold was bought with USD. They refuse to remove that gold even though they know exactly where it is. Why? Simple, people who spent hundreds of dollars will suddenly have nothing. That will cause a huge outrage. So yes the USD is going to charity that was the only option to save face. Because the fact of the matter is duped gold will remain and it will effect the economy. The only winners here are the ones who spent USD the day the patch went live. I unfortunately spent 60 USD the days before the patch. Yet i'm broke in comparison now...


Don't buy gold when there's a gold dupe obviously active?

The market reflects that John Wight is telling the truth.

RS prices almost normalized not even 24hours in.


Same goes for this guy... rofl I did not buy after the patch. I bought before the patch. There was no duping of gold pre patch. Try thinking before posting. Not only that buying gold during the gold dupe actually let's you keep the gold because you didn't dupe it yourself blizzard is letting those players keep their billions. I WISH I BOUGHT GOLD THEN. genius.
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96 Troll Mage
11125
Posts: 7
Thank you for a full explanation, I know a lot of people including me made some good sales but did not know about the bug. I was just taking advantage of the price increase and thought i was because of the release of the new patch. I always been making and selling gems. I think it was a great idea to donate to the CMNH.

I still believe D3 is a great game and keep up the good work.
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The truth about this "donation"

http://blog.childrensmiraclenetworkhospitals.org/2012/12/
As with all Children's Miracle Network Hospitils donations, your funds are tax-deductible and can be counted as such during next year's filings.

Any donation made to them is tax deductible. When was the last time you heard in the news or anywhere of a corporation not taking advantage of a tax deduction?

Now we have this:
http://www.irs.gov/publications/p542/ar02.html#en_US_2011_publink1000257846

A corporation can claim a limited deduction for charitable contributions made in cash or other property. The contribution is deductible if made to, or for the use of, a qualified organization. For more information on qualified organizations, see Publication 526, Charitable Contributions.

So we know they can claim a limited amount.

Let's see how "limited" it truly is:
Limitations on deduction. A corporation cannot deduct charitable contributions that exceed 10% of its taxable income for the tax year. Figure taxable income for this purpose without the following.

The deduction for charitable contributions.

The dividends-received deduction.

The deduction allowed under section 249 of the Internal Revenue Code.

The domestic production activities deduction.

Any net operating loss carryback to the tax year.

Any capital loss carryback to the tax year.


ATVI gross taxable income for last year was $4.86B dollars (http://www.marketwatch.com/investing/stock/atvi/financials), 10% of that is $486 million dollars. Even if the amount donated exceeds this (highly doubtful) there is this provision:


Carryover of excess contributions. You can carry over, within certain limits, to each of the subsequent 5 years any charitable contributions made during the current year that exceed the 10% limit. You lose any excess not used within that period. For example, if a corporation has a carryover of excess contributions paid in 2010 and it does not use all the excess on its return for 2011, it can carry any excess over to 2012, 2013, 2014, and 2015, if applicable. Any excess not used in 2015 is lost. Do not deduct a carryover of excess contributions in the carryover year until after you deduct contributions made in that year (subject to the 10% limit). You cannot deduct a carryover of excess contributions to the extent it increases a net operating loss carryover.


So even if the donation exceeds $486 million they can still include the excess for the next 5 following years. So no matter what they will get ALL of the money back.


Cash contributions. A corporation must maintain a record of any contribution of cash, check, or other monetary contribution, regardless of the amount. The record can be a bank record, receipt, letter, or other written communication from the donee indicating the name of the organization, the date of the contribution, and the amount of the contribution. Keep the record of the contribution with the other corporate records. Do not attach the records to the corporation's return. For more information on cash contributions, see Publication 526.


This is pretty self explanatory. Any investor should be able to get a copy of this document upon request.

Gifts of $250 or more. Generally, no deduction is allowed for any contribution of $250 or more unless the corporation gets a written acknowledgement from the donee organization. The acknowledgement should show the amount of cash contributed, a description of the property contributed, and either gives a description and a good faith estimate of the value of any goods or services provided in return for the contribution or states that no goods or services were provided in return for the contribution. The acknowledgement should be received by the due date (including extensions) of the return, or, if earlier, the date the return was filed. Keep the acknowledgement with other corporate records. Do not attach the acknowledgement to the return.


Again pretty self explanatory. Also, Charitable organizations have to make their financial records available to the public so a with simple written request we can get their record of donations and see how much they actually got in "donation" from ATVI.

All of this boils down to them using your money for a publicity stunt that costs them nothing. They'll write it off and actually gain more than if they had kept the money. Remember they will pocket any and all interest gained from that money before they make the "donation".

If they truly meant to "donate" they should've made an offer to match dollar per dollar out of their own pockets on top of the RMAH proceeds to charity.
Edited by Hardcore#1216 on 5/11/2013 10:21 AM PDT
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The truth about this "donation"

http://blog.childrensmiraclenetworkhospitals.org/2012/12/
As with all Children's Miracle Network Hospitils donations, your funds are tax-deductible and can be counted as such during next year's filings.

Any donation made to them is tax deductible. When was the last time you heard in the news or anywhere of a corporation not taking advantage of a tax deduction?

Now we have this:
http://www.irs.gov/publications/p542/ar02.html#en_US_2011_publink1000257846

A corporation can claim a limited deduction for charitable contributions made in cash or other property. The contribution is deductible if made to, or for the use of, a qualified organization. For more information on qualified organizations, see Publication 526, Charitable Contributions.

So we know they can claim a limited amount.

Let's see how "limited" it truly is:
Limitations on deduction. A corporation cannot deduct charitable contributions that exceed 10% of its taxable income for the tax year. Figure taxable income for this purpose without the following.

The deduction for charitable contributions.

The dividends-received deduction.

The deduction allowed under section 249 of the Internal Revenue Code.

The domestic production activities deduction.

Any net operating loss carryback to the tax year.

Any capital loss carryback to the tax year.


ATVI gross taxable income for last year was $4.86B dollars, 10% of that is $486 million dollars. Even if the amount donated exceeds this (highly doubtful) there is this provision:


Carryover of excess contributions. You can carry over, within certain limits, to each of the subsequent 5 years any charitable contributions made during the current year that exceed the 10% limit. You lose any excess not used within that period. For example, if a corporation has a carryover of excess contributions paid in 2010 and it does not use all the excess on its return for 2011, it can carry any excess over to 2012, 2013, 2014, and 2015, if applicable. Any excess not used in 2015 is lost. Do not deduct a carryover of excess contributions in the carryover year until after you deduct contributions made in that year (subject to the 10% limit). You cannot deduct a carryover of excess contributions to the extent it increases a net operating loss carryover.


So even if the donation exceeds $486 million they can still include the excess for the next 5 following years. So no matter what they will get ALL of the money back.


Cash contributions. A corporation must maintain a record of any contribution of cash, check, or other monetary contribution, regardless of the amount. The record can be a bank record, receipt, letter, or other written communication from the donee indicating the name of the organization, the date of the contribution, and the amount of the contribution. Keep the record of the contribution with the other corporate records. Do not attach the records to the corporation's return. For more information on cash contributions, see Publication 526.


This is pretty self explanatory. Any investor should be able to get a copy of this document upon request.

Gifts of $250 or more. Generally, no deduction is allowed for any contribution of $250 or more unless the corporation gets a written acknowledgement from the donee organization. The acknowledgement should show the amount of cash contributed, a description of the property contributed, and either gives a description and a good faith estimate of the value of any goods or services provided in return for the contribution or states that no goods or services were provided in return for the contribution. The acknowledgement should be received by the due date (including extensions) of the return, or, if earlier, the date the return was filed. Keep the acknowledgement with other corporate records. Do not attach the acknowledgement to the return.


Again pretty self explanatory. Also, Charitable organizations have to make their financial records available to the public so a with simple written request we can get their record of donations and see how much they actually got in "donation" from ATVI.

All of this boils down to them using your money for a publicity stunt that costs them nothing. They'll write it off and actually gain more than if they had kept the money. Remember they will pocket any and all interest gained from that money before they make the "donation".

If they truly meant to "donate" they should've made an offer to match dollar per dollar out of their own pockets on top of the RMAH proceeds to charity.


This man is a genius, and this time i'm not being sarcastic. But honestly I would have done the same if I was in Blizzard's shoes. There is no winning from this fiasco. If they had jumped any other direction there would have been a mass exodus. They benefit from the duped gold profit's and they don't have the balls to take the duped gold from the players who spent USD to get it. I don't blame them. But damn it's frustrating we have to pay for this.
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05/10/2013 09:40 PMPosted by John Hight
We'll also be donating all proceeds from auctions conducted by the suspended or banned players—including all of THEIR sale proceeds that we intercepted as well as our transaction fee—to Children’s Miracle Network Hospitals.


PR team working hard I see + a good tax write off.
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05/11/2013 10:17 AMPosted by Xort
We'll also be donating all proceeds from auctions conducted by the suspended or banned players—including all of THEIR sale proceeds that we intercepted as well as our transaction fee—to Children’s Miracle Network Hospitals.


PR team working hard I see + a good tax write off.


Well what did you want them to do, keep it all?

They did the right thing. They handled this issue like professionals and belayed full transparency until the spill had been contained.
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Posts: 1,380
05/10/2013 09:46 PMPosted by Thrull
We'll also be donating all proceeds from auctions conducted by the suspended or banned players—including all of THEIR sale proceeds that we intercepted as well as our transaction fee—to Children’s Miracle Network Hospitals.


Be very very careful. While they may have exploited the bug, that doesn't mean they should have the money they earned taken away. Blizzard could get in some serious trouble for doing this regardless of how nice it sounds when the money goes to charity.


I'm sure they cleared it with their legal team first, and it's probably supported by the Terms of Use. When the RMAH was introduced, the ToU was expanded to allow for such contingencies, sadly to the point where it's really no longer concise enough to bother reading it instead of just clicking "agree."
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62 Tauren Warrior
0
Posts: 2
I'm kind of mad, i purchased the digital version of Diablo 3 and it says you need to wait for a payment verification until you can use the Auction House, i waited and it finally let me use it but now since the patch has came out its saying the same thing so now i still cant use it. Do you have any suggestions about what i can do so I can use the Auction House again.
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Well what did you want them to do, keep it all?

They did the right thing. They handled this issue like professionals and belayed full transparency until the spill had been contained.


They can do whatever they want with the money, in this case they can reduce their taxes by giving it to a good cause instead of the U.S. government. It's one thing if they specifically made the auction house for charitable purposes from the very beginning, but this is just a PR stunt through and through. There is no transparency with them or this game.
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