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PLEX market - call to arms!
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Gronn
Sebiestor Tribe
Minmatar Republic
#21 - 2011-11-18 18:08:15 UTC
Perramas wrote:
To me anything under 600 million isk is not worth it for me to use my IRL money to buy Plex to sell to the unemployed leaches of society. When it hits 600+ million isk I will do my part to cash in on the leaches and help stabilize the price of plex at 600 million.


Bravo... LOL...
Sturmwolke
#22 - 2011-11-18 18:21:20 UTC
You'll be doing those folks that'd already amassed a lump of plex a favor by being their salesman (when you thin the margins).
It's more or less slave labor. The time's about right too.
Callduron
Dreddit
Test Alliance Please Ignore
#23 - 2011-11-18 18:32:14 UTC
Tarkoauc wrote:
it won't work. Econ 101 should have taught you that if you have gone to college. The price of the plex is an issue of supply and demand.



American economics education seems somewhat lacking.

Any speculated commodity has a price determined by more complexities than simple supply-demand. Both in the real world and in Eve.

I write http://stabbedup.blogspot.co.uk/

I post on reddit as /u/callduron.
Callduron
Dreddit
Test Alliance Please Ignore
#24 - 2011-11-18 18:39:10 UTC
Dream Five wrote:
Who is in?

Ideally this requires Accounting V, Broker Relations V and sub-0.3% broker fee from standings.

I created a channel, PLEX SYNDICATE. I have no personal interest in spending time on this other than driving the PLEX to where it belongs so ideallly eventually i'd hand off everything including recruiting to someone trustworthy (not an alt of a big PLEX trader). I don't think we are going to have a huge problem with finding trustworthy people because the vast majority of players have an interest in keeping the PLEX price low.


A few thoughts

- the plex market is a huge one, you'll collectively need trillions of isk to have any chance of controlling it.

- you may have blown this by going public. Any trader can join your organisation on an alt account even with API checks.

- you have warned every speculator to sit on their stack and just buy yours for the time being. Because if you're artificially pushing the price down when it wants to go up the Sell Orders you list are bargains.

- conversely you could be a very clever speculator with a large stack of plexes who believes the market has peaked. Passing yourself off as a naive do-gooder is a marvellous way to attract sharks and it would be great if they go into a feeding frenzy on your stock at the peak of the bubble.

I write http://stabbedup.blogspot.co.uk/

I post on reddit as /u/callduron.
Mantra Achura
Stammtisch
#25 - 2011-11-18 18:50:13 UTC  |  Edited by: Mantra Achura
Callduron wrote:
Tarkoauc wrote:
it won't work. Econ 101 should have taught you that if you have gone to college. The price of the plex is an issue of supply and demand.



American economics education seems somewhat lacking.

Any speculated commodity has a price determined by more complexities than simple supply-demand. Both in the real world and in Eve.


Can't say better. It is already declared that a mass of speculation has taken place...
Claire Voyant
#26 - 2011-11-18 19:48:29 UTC
Elise DarkStar wrote:
I respect the effort, but I don't believe crashing the margins will be enough in this case. You're fighting back against a lot of ingrained momentum, so I think you'd need to be pulling down with some fat sell orders. There is also a substantial buy order floor at 480 that could absorb anything except a full blown panic fire sale of stockpiles.

That floor has termites. Just thought you should know.
Dream Five
Renegade Pleasure Androids
#27 - 2011-11-18 19:53:01 UTC  |  Edited by: Dream Five
Look, here are some facts you have to agree with:

1) If a not-for-profit trader outbids a for-profit trader every time and re-offers the PLEX at rock-bottom price, the price of the PLEX will be at any given time lower for the buyer, if only for 5m. This is good for us.
2) It gets harder to unload the stock for profit-oriented traders. For long-term traders the price rises at a lower speed so their ROI reduces.
3) If enough people pinch in and basically donate 1-2m to the cause you don't know what kind of dynamic we are going to see.


I'm currently seeing 132 selling volume at 482.9 vs about 100 buying volume at 482. I think either the idea picked up with the big EVE powers that be (who have no interest in high PLEX prices) or the market is taking it's natural cause (PLEX price is way, way too high). Exciting times!

EDIT: 10 seconds later someone bought out 132 PLEX at 482.9m. Crazy action!

I think what is happening right now is some big players are exiting while others are staying in the game.
Elise DarkStar
Garoun Investment Bank
Gallente Federation
#28 - 2011-11-18 19:59:40 UTC
Claire Voyant wrote:
That floor has termites. Just thought you should know.


Hehehe.

Well I am making a move in another market today anyway, so I have been and will continue to keep and eye on plex. We`ll see if my superficial understanding of the plex market holds any weight.
Dream Five
Renegade Pleasure Androids
#29 - 2011-11-18 20:05:01 UTC  |  Edited by: Dream Five
You do realize guys that as a community we have more capital than all the most powerful PLEX traders combined? We can price fix it however we want. If enough people play this game for long enough (sustainable considering that all players in EVE combined have a TON of capital) vs maybe 5 tril at most for the most powerful PLEX trader... This trader WILL run out of capital eventually. What happens after? That's right, the resistance gets crushed. Let's keep at it!

Also if you look at the battlefield (bid/ask spread) I think it's pretty clear that LARGE buy orders are the enemy. While small buy orders that immediately re-offer at a low price are friends. Easy enough to tell.
Dream Five
Renegade Pleasure Androids
#30 - 2011-11-18 20:27:24 UTC  |  Edited by: Dream Five
Someone just dumped 70 at 482. 480 resistance is about to get slaughtered.

The message is clear - don't leave large buy orders sitting out there, or you will get obliterated. A force larger than you is at work here. I'm not taking credit for any of this btw. There are clearly much bigger forces at play now.
Dream Five
Renegade Pleasure Androids
#31 - 2011-11-18 20:32:39 UTC
20@480 evaporated while I was typing the previous message.
Elise DarkStar
Garoun Investment Bank
Gallente Federation
#32 - 2011-11-18 20:40:35 UTC
Great now I`m all excited, but not even in the region. Cant this blasted freighter go any faster?
Dream Five
Renegade Pleasure Androids
#33 - 2011-11-18 20:43:00 UTC
Whoever is buying 60@475 is playing a very very dangerous game right now. You might want to move before you get crushed.
volhar
V Enterprises
#34 - 2011-11-18 20:48:34 UTC
What's funny is that that order might belong to the person "helping you". Ok, probably not that one, its not low enough, but I bet someone is jumping on your bandwagon planning to pick up some cheap plexes and wait for you to go to bed
IceFyre S18
Zulu Labs
#35 - 2011-11-18 20:48:35 UTC
Dream Five wrote:
Whoever is buying 60@475 is playing a very very dangerous game right now. You might want to move before you get crushed.


i am, sorry, 475 sounds good to me.
Claire Voyant
#36 - 2011-11-18 20:49:11 UTC
Dream Five wrote:
EDIT: 10 seconds later someone bought out 132 PLEX at 482.9m. Crazy action!

That would appear to be money laundering. No other real explanation for that. The buyer knew the sell order was going up.
Elise DarkStar
Garoun Investment Bank
Gallente Federation
#37 - 2011-11-18 21:04:55 UTC
Well done. Always happy to be proved wrong, especially when it`s entertaining like falling plex prices.
Dream Five
Renegade Pleasure Androids
#38 - 2011-11-18 21:05:45 UTC
Claire Voyant wrote:
Dream Five wrote:
EDIT: 10 seconds later someone bought out 132 PLEX at 482.9m. Crazy action!

That would appear to be money laundering. No other real explanation for that. The buyer knew the sell order was going up.


Actually maybe the order was just moved up. I didn't check.
Lauren Hellfury
Super Happy Awesome Fun Times
#39 - 2011-11-18 21:12:25 UTC
Having just stepped out of region I'm likely overtaken by events, but there is not much volume on buys above 450.

The determining factor is going to be what happens when the US kicks in around 2300-0000. Are there going to be a large number of people grabbing some plex before logging in to grab some weekend spending isk. Are the traders coming online going to panic or pump more isk in?

Personally I'm sitting out for the next few hours as I'm guessing we still haven't seen the bottom of this dip yet.

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Dream Five
Renegade Pleasure Androids
#40 - 2011-11-18 21:38:30 UTC
volhar wrote:
What's funny is that that order might belong to the person "helping you". Ok, probably not that one, its not low enough, but I bet someone is jumping on your bandwagon planning to pick up some cheap plexes and wait for you to go to bed


Yeah I'm thinking the game is more complicated than I originally thought. There's also an issue of limited supply and limited total number of outstanding PLEX.