The project is under development. Time hasn't been worked out or implemented yet as a game feature. Anything in game relating to time is simply a placeholder. Also, this thread was originally started in November of 2009 by Xillix. This discussion of a character wipe is over, this instance of the wipe already happened, and Xillix is no longer on the team. I don't expect any major database resets in the immediate future, though there still could be a few before version 1.0.