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Margin Trading Scam...

First post First post
Author
Zora'e
#221 - 2013-07-25 10:27:21 UTC  |  Edited by: Zora'e
Jonah Gravenstein wrote:


Zora'e wrote:

So.. some of you market warriors care to explain to me the issue with the odd market value returns pop-ups? Cause i'd sure like to know how the lowest item in the sellers window can be over the regional average. That simply doesn't make any sense to me as it stands and i'd like it to make sense.

~Z

The average covers both buy and sell orders, there's usually one or two orders, that are way out on the fringes price wise, that distort the regional average, if you go into the settings tab on the market interface you'll find some filters can be set, if you have any of them checked, uncheck them, then look at the highest sell order and the lowest buy order, they'll probably be way out of whack with the average price.


Ahh, for some odd reason I thought the seller and buyer orders were calculated separately instead of in aggregate. Ok now that makes sense. Thanks.

~Z

I won't say you are stupid, but you're not exactly on the Zombie menu either.

Jonah Gravenstein
Machiavellian Space Bastards
#222 - 2013-07-25 10:35:23 UTC
Zora'e wrote:

Ahh, for some odd reason I thought the seller and buyer orders were calculated separately instead of in aggregate. Ok now that makes sense. Thanks.

~Z

Now I've put that, Tippia will be along in a moment to tell me that I'm wrong, and probably be right Lol, but that's my understanding of how the regional average is calculated.

In the beginning there was nothing, which exploded.

New Player FAQ

Feyd's Survival Pack

Starkiller Lothlorien
Doomheim
#223 - 2013-07-25 11:43:20 UTC
OP shart in pants with original sin, Mr Greedyguts try fast one pulling off competition, then follow through on forums whine babybear want pooper scopped by CCP?

Andy Pandy must be mental to trust market mech. Obvious scam, all of it.

Advice lice off donations and free soup, mine and sell ore like Elvis D Roosevelt.
Jenn aSide
Soul Machines
The Initiative.
#224 - 2013-07-25 12:19:31 UTC
Malcanis wrote:
There should be a pop-up warning when you shoot a lone maller

"warning this is probably a cyno trap"


And in one sentence you summed up the opposition to the scam in question. no matter how much a game maker gives players control of their own destiny, a subset of those players will always want to be lead/directed and protected.

It's so incredibly simple and easy to not fall for this scam: don't be in a hurry, don't be greedy, and if it looks too good to be true (even slightly, like "oh, I can make a 10% profit by buying this and moving it 6 jumps, better than my usual 6%!"), err on the side of caution and consider avoiding it.

But of course, that's not good enough.
RubyPorto
RubysRhymes
#225 - 2013-07-25 13:56:50 UTC  |  Edited by: RubyPorto
Vladimir Norkoff wrote:
Ugh. RL examples tend to be bad cuz this not RL. It's EvE. It's a game. But if we are gonna go there.... I'm fairly certain that the EvE Market is not akin to a mall checkout counter. There is no 3rd party in that instance. There is you, and the store you are buying from. No 3rd party. I don't place a buy order at a mall kiosk. The mall shop does not come to me to sell the item. Etc. You might be a bit closer if you had used an example of ordering online, but even then there isn't really a 3rd party involved that handles the transaction. And it's not even a contract as you are bizarrely implying is my position (which notably is NOT my position). The EvE Market is an escrow agent pure and simple. And it's an agent that is heavily biased in favor of the Buyer.


Strip out the RL example and my post still works (also look at the house buying example, where the money often goes into an actual escrow account). A market order in EVE is an offer to treat, not a contract.
In what way is the agent biased? It ensures that the entire value of the order being fulfilled is in escrow before an order can be completed. That's the entire job of an Escrow agent.

Quote:
Okay. I'm not particularly convinced that is not what you were arguing, but I will take your word for it. And the difference between "changing" and "bypassing" seems a bit like semantics to me. "You're not bypassing the rules, the rules are just being changed for you because you trained this skill!"What? 'Kay....

As for the Lofty stuff, that does seem alot like you are making the point that CCP was addressing the lack of information available to the victim. Which seems dreadfully familiar to the point I've been making in regards to Margin trades. Because while Margin Trading "does exactly what it says on the tin", that tin isn't on the trade. You gotta go look up the skill, it's not there on the trade interface. Kinda like having to go look up the rules on gang/aggro mechanics. It was out there if you looked for it, so it's all good... right? Apparently not for the Lofty. But for Margin Trading it's fine. Go figure.


Each and every one of EVE's skills changes the rules for you once you train them. That's what an exception based system is.
You can't fit T2 guns except if you've trained the right skills.
Can't fly a Titan except if you've trained the right skills.
Can't use more than n market slots except if you've trained the right skills.
Have to tie up the entire value of a market order in escrow except if you've trained margin trading.

The tin doesn't have to be on the trade.

With lofty, what mechanic allows you to look up whether a gang had 2 warring WTs in it before joining? With margin orders, you can look to see if the buy order is likely to complete by looking at the normal price of the item, or simply sell to the next order if the first fails without any loss.



Quote:
Ok that is just outright false. The EvE Market does NOT tell you that the Margin Trader doesn't necessarily have the cash to fulfill the order. That is absolutely NOT a full accounting of the transaction before it occurs. That is assuming you are talking about the EvE Market as "the Escrow agent" and not some nebulous agent you suddenly inserted into the conversation.


Yes it does. You try to sell it, the escrow agent makes something similar to a margin call, the call fails, the order fails, and the trade does not occur. The trade not happening and the order disappearing are the Escrow agent's way of telling you that escrow failed to complete.

You're just hoping for the escrow agent to tell you this information long in advance rather than immediately in advance of the trade's completion.


Quote:
But he does have a choice of which market to take his product to. Believe it or not, not all sales occur in Jita. Or even in a place with multiple Buy orders for the same item. If Johnny Freighterboy is trying to fill a station-only Buy order off in some backwater system and it turns out the Buy is a bogus Margin trade, he is out his hauling time and effort. Again, all the risk falls on him because there is no transparency in the system. Which is why the transparency of knowing which Buys are margins and which are not, is needed.


You don't get where I'm coming from because you think the scam is what I'm addressing. I'm not. I'm addressing Margin Trading which has some pretty wide-ranging effects beyond the scam.


How is that risk different than the risk that someone else gets there first? Besides, Johnny can simply sell to the next buy order or put up his own sell order for the items. If nobody buys, well, that's one of the risks you take with market seeding.


Yep, it allows newbie traders to compete in slower markets without running into as many liquidity traps. How dastardly.


Tippia wrote:
And I'm not sure where you got that checkout counter from — Ruby is saying that the EVE markets specifically aren't like that and that you're always dealing though a third party.

Actually, I was saying that the markets are like a checkout counter, in that you can not have the money to pay for your shopping when you reach the counter, and as long as you don't try to leave with the items anyway, you have not committed an offense or tort. The store keeps its goods once it's known you don't have the means to pay, and you don't incur any liability, because the whole shebang is an offer to treat, not a contract.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

RubyPorto
RubysRhymes
#226 - 2013-07-25 14:08:18 UTC  |  Edited by: RubyPorto
Jonah Gravenstein wrote:
Zora'e wrote:

Ahh, for some odd reason I thought the seller and buyer orders were calculated separately instead of in aggregate. Ok now that makes sense. Thanks.

~Z

Now I've put that, Tippia will be along in a moment to tell me that I'm wrong, and probably be right Lol, but that's my understanding of how the regional average is calculated.



The average is calculated from trades that actually complete, not from orders outstanding.

There are items where enough of the volume gets traded on buy orders and the spread is large enough that you get a warning popup when you buy from the lowest sell order. Usually cheap T1 gear whose primary value is reprocessing.


(Sorry, you don't get the famous rules lawyer)

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

Malcanis
Vanishing Point.
The Initiative.
#227 - 2013-07-25 14:16:24 UTC
Jenn aSide wrote:
Malcanis wrote:
There should be a pop-up warning when you shoot a lone maller

"warning this is probably a cyno trap"


And in one sentence you summed up the opposition to the scam in question. no matter how much a game maker gives players control of their own destiny, a subset of those players will always want to be lead/directed and protected.

It's so incredibly simple and easy to not fall for this scam: don't be in a hurry, don't be greedy, and if it looks too good to be true (even slightly, like "oh, I can make a 10% profit by buying this and moving it 6 jumps, better than my usual 6%!"), err on the side of caution and consider avoiding it.

But of course, that's not good enough.


I learned back when I was about 12 or 13 that if someone else offers you a bizarrely good deal for no obvious reason then you're about to get ripped off somehow. And that was just from my brother, never mind a stranger.

Kids today don't get no edumacation

"Just remember later that I warned against any change to jump ranges or fatigue. You earned whats coming."

Grath Telkin, 11.10.2016

Manfred Hideous
Royal Amarr Institute
Amarr Empire
#228 - 2013-07-25 16:21:14 UTC
Looser Eto wrote:
Ranger 1 wrote:

The best scams are the ones that involve other people, usually called a shill. Smile

However, in this case no other account is needed... not that it matters actually. Multi-account mechanics abuse (LOL) doesn't enter into the picture. We all have 3 characters per account, this is by design.

There is also no reason for a character to be bio massed, as there is no need to "cover their tracks". This is all perfectly valid game play.

I see the situation quite clearly, thank you very much. You dislike the fact that some players are more clever than others, and prefer to blame player greed on supposed flaws in the game mechanics... DESPITE a Dev specifically telling you that his is allowed by the game design.

Your point has been taken seriously, discussed, and clarified as not being an unintended game mechanic. Now it boils down to you simply don't like it. Which is fine, but don't dress it up as a flaw in game mechanics or an exploit, as it clearly isn't.


I disagree that this is valid gameplay - the reason why I post here is because I believe very strongly that this type of scam needs to be put to rest.

In trade window scams, it is the fault of the "victim" that clicks on accept without triple-checking
In contract scams, it's the fault of the "victim" that does not read what he or she buys very carefully
In isk doubling scams, it's the fault of the "victim" that believes people throw away isk just like that

But in margin trading scams, one can not possibly know that the game mechanics are not being abused. And I am obviously not referring to sell order that are 5-10x above ordinary orders.


This thread is a riot.

Margin trade scams are very easily avoided by just looking at the minimum number required. In fact, it's not really a scam at all since there is no misrepresentation possible on the market screen, unlike "Charon" carbon scams.
Manfred Hideous
Royal Amarr Institute
Amarr Empire
#229 - 2013-07-25 16:38:35 UTC
double double
Jonah Gravenstein
Machiavellian Space Bastards
#230 - 2013-07-25 16:52:54 UTC  |  Edited by: Jonah Gravenstein
RubyPorto wrote:
Jonah Gravenstein wrote:
Zora'e wrote:

Ahh, for some odd reason I thought the seller and buyer orders were calculated separately instead of in aggregate. Ok now that makes sense. Thanks.

~Z

Now I've put that, Tippia will be along in a moment to tell me that I'm wrong, and probably be right Lol, but that's my understanding of how the regional average is calculated.



The average is calculated from trades that actually complete, not from orders outstanding.

There are items where enough of the volume gets traded on buy orders and the spread is large enough that you get a warning popup when you buy from the lowest sell order. Usually cheap T1 gear whose primary value is reprocessing.


(Sorry, you don't get the famous rules lawyer)


Lol, cheers Ruby for the clarification*, sounds like I wasn't far off the mark, assuming that it's both completed buy and sell orders that are used in the average?

*adds to the pile of knowledge about Eve.

In the beginning there was nothing, which exploded.

New Player FAQ

Feyd's Survival Pack

Nuela
WoT Misfits
#231 - 2013-07-25 19:38:35 UTC
Sarah Schneider wrote:
Yes, all scammers are sociopath in real life. All gankers are serial killers. Mission runners, miners and incursion runners are fat greedy bastards in real life. What next? CCP Guard is a reincarnation of Lucifer?



Hey! I run missions...and I am a fat greedy bastard in real life....
RubyPorto
RubysRhymes
#232 - 2013-07-25 19:39:41 UTC
Jonah Gravenstein wrote:
Lol, cheers Ruby for the clarification*, sounds like I wasn't far off the mark, assuming that it's both completed buy and sell orders that are used in the average?

*adds to the pile of knowledge about Eve.



Yep, every actual transaction is included (subject to some wizardry by CCP to protect Faction Warfare from becoming another infinite LP fountain).

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

Tippia
Sunshine and Lollipops
#233 - 2013-07-25 19:51:01 UTC
RubyPorto wrote:
Yep, every actual transaction is included (subject to some wizardry by CCP to protect Faction Warfare from becoming another infinite LP fountain).
By the sound of it, that wizardry is mainly applied to the “estimated value” of an item, which is universe-wide rather than based on any particular region. It probably just involves a simple mean/median bias analysis of all markets and chopping off a bunch of outliers.
Alavaria Fera
GoonWaffe
#234 - 2013-07-25 19:59:07 UTC
Nuela wrote:
Sarah Schneider wrote:
Yes, all scammers are sociopath in real life. All gankers are serial killers. Mission runners, miners and incursion runners are fat greedy bastards in real life. What next? CCP Guard is a reincarnation of Lucifer?



Hey! I run missions...and I am a fat greedy bastard in real life....

Goons are also mostly ratters, not mission runners, miners or incursion runners.

Triggered by: Wars of Sovless Agression, Bending the Knee, Twisting the Knife, Eating Sov Wheaties, Bombless Bombers, Fizzlesov, Interceptor Fleets, Running Away, GhostTime Vuln, Renters, Bombs, Bubbles ?

RubyPorto
RubysRhymes
#235 - 2013-07-26 00:26:08 UTC
Tippia wrote:
RubyPorto wrote:
Yep, every actual transaction is included (subject to some wizardry by CCP to protect Faction Warfare from becoming another infinite LP fountain).
By the sound of it, that wizardry is mainly applied to the “estimated value” of an item, which is universe-wide rather than based on any particular region. It probably just involves a simple mean/median bias analysis of all markets and chopping off a bunch of outliers.


I don't have any real reason to look into how the estimated value works, so until someone posts an easy to digest writeup, it'll have to remain wizardry to me.

"It's easy to speak for the silent majority. They rarely object to what you put into their mouths." -Abrazzar "the risk of having your day ruined by other people is the cornerstone with which EVE was built" -CCP Solomon

Gazzy Mendelions
Deep Core Mining Inc.
Caldari State
#236 - 2013-07-26 09:36:59 UTC
I fell for the scam 2 days before my account expired. Cleaned me out of 430 mil ISK. I needed that ISK to buy PLEX or I couldn't play the game. Ended up just selling it to somebody else for 470 mil.

Idiots, idiots everywhere......

SmokinDank
Horizon Research Group
#237 - 2013-07-26 10:04:09 UTC
This is what happens when you tell every idiot kid that it's special. You get threads like these Roll

...