open All Channels
seplocked Features and Ideas Discussion
blankseplocked Margin Trading Missiles Scam
 
This thread is older than 90 days and has been locked due to inactivity.


 
Pages: 1 [2]

Author Topic

dan Kahoudi
Posted - 2011.08.15 21:31:00 - [31]
 

my main problem is you should be able to trust what u see in the market.

easy fix:

restrict the buy min. to <= escrow.
If you want to use margin trade, then you cant require a min purchase greater then your escrow. 100% escrow = 1-100% min requirment avail. 80% escrow = 80% or less min requirement avail.

Zylaphone
Posted - 2011.08.15 22:02:00 - [32]
 

Is there anyone who actually gets legitimate use out of the minimum buy amount? I can see how it's handy for margin trade scamming, but is it actually useful for anything else? If you're getting something at a good price, don't you want it whether it's one piece or not?

mxzf
Minmatar
Shovel Bros
Posted - 2011.08.15 22:30:00 - [33]
 

Originally by: Zylaphone
Is there anyone who actually gets legitimate use out of the minimum buy amount? I can see how it's handy for margin trade scamming, but is it actually useful for anything else? If you're getting something at a good price, don't you want it whether it's one piece or not?


The main legitimate use for it that I can see is if someone put up a region-wide buy order. You don't want to put up an order for 10M Veld and then end up with some joker selling 1 veld each in 50 stations around the region, so you set it to whatever amount you feel would be worth it for you to have to go get it. But I can't see any use for Min Buy to be > 50% of the total buy amount, ever.

Monstress
Posted - 2011.08.15 22:43:00 - [34]
 

Originally by: mxzf
Originally by: Zylaphone
Is there anyone who actually gets legitimate use out of the minimum buy amount? I can see how it's handy for margin trade scamming, but is it actually useful for anything else? If you're getting something at a good price, don't you want it whether it's one piece or not?


The main legitimate use for it that I can see is if someone put up a region-wide buy order. You don't want to put up an order for 10M Veld and then end up with some joker selling 1 veld each in 50 stations around the region, so you set it to whatever amount you feel would be worth it for you to have to go get it. But I can't see any use for Min Buy to be > 50% of the total buy amount, ever.


This is how I use the min volume with my regional orders. As a station trader who occasionally hauls, I generally keep a couple buy orders, one for my main trade hub and the other is a regional order I set a min volume on. My station order has no min volume, because I don't care, that's where I end up selling my stuff. But my regional order has to be worth the effort for me to actually care enough to haul it.

Slimy Worm
The Skunkworks
Posted - 2011.08.17 01:51:00 - [35]
 

Originally by: Condemned Bishop
In the last weeks I'm seeing a considderable increase of margin trading scams in Jita market. Let me tell you how that works out:

Step 1) A buy order for 10 MIL missiles is set in market at about double the price of any other buy orders (f.e. 650 ISK a piece). With this buy order the minimum amount is set at 10 MIL pieces (all at once). The character that sets the buy order is using the margin trading skill and pays about 76-80% of the cost and then transfers all of his ISK to another account.

Step 2) Multiple sell orders are set in market by an ALT of MAIN with a high price, but lower than 650 ISK a piece (say 400 ISK): 1st sell order with 2 MIL missiles, a 2nd order with 3 MIL missiles, etc etc. Until there are sell orders in market that cover the amount of the buy order (10 MIL missiles).

Step 3) Any unsuspecting player that sees the buy order will figure he can make a gigantic amount of profit. Since he can sell 10 MIL missiles to 650 ISK a piece and can buy the required amount at 400 ISK a piece (which comes to 10 MIL x 250 ISK = Profit, minus the sales tax).

Step 4) Here is the catch. If u have bought the required 10 MIL missiles to fullfill the buy order, your ISK might be running low. Now u want to sell the amount as quick as possible. However, with a right klick and sell, all of a sudden there is no more buy order and your sell order for 10 MIL missiles at 650 ISK suddenly is in the market (with a considderable amount of sales tax). You got screwed.

Step 5: What happened? (see step 1). Since the character that posted the buy order used Margin Trading and only payed 76-80% of the required cost, to completely buy the 10 MIL missiles, he has to pay a further 24-20% of the cost. But since he transfered all of his ISK, he can't pay. In this case the buy order will be deleted (returning the 76-80% of the cost back to his account). His ALT or MAIN has sold 10 MIL missiles and made a quick profit, you are left with 10 MIL missles you can instantly sell at only 300 ISK or will require considderable time to sell at a higher price. (see step 4: you got screwed).

*** How to overcome these type of scams?... (and please Devs... put some work into this!) I think the person that posts the buy order is being overprotected by the game mechanic. He get's all of his ISK (76-80% with margin trading) refunded when he can't fully fullfill the cost of the buy order. The seller that intended to fullfill the buy order with the 10 MIL missiles is the loosing party here. Not only has he overpayed, but also has he payed a considderable amount of sales tax when his 10 MIL missiles were set in market as a sell order.

My solution Idea: protect the seller that wants to fullfill the buy order and screw the buyer (let the 76-80% be payed to the person that fullfills the buy order, since that amount was allready payed when posting it into the market). Let game mechanics calculate what amount is not payed for and return that amount back to the hangar of the selling party. This would be more fair in my opinion...

Also Idea: Show me which character is the buying party! Next to the person that sold me 10 MIL missiles, I have a gank ship wainting to undock for him too... YARRRR!!


You misspelled the word "you"


Pages: 1 [2]

This thread is older than 90 days and has been locked due to inactivity.


 


The new forums are live

Please adjust your bookmarks to https://forums.eveonline.com

These forums are archived and read-only