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Margin Trading Scam - It is time for change.

First post
Author
ShahFluffers
Ice Fire Warriors
#21 - 2015-04-13 19:24:29 UTC
Black Pedro wrote:
X Seven wrote:
Really? It doesn't lie. After a person from CCP says the client lies then everyone dismisses it as not a lie. Anyone else out there want to fix this or am I the only one.

Half the things in the client are a lie (see: Jita local).

^ This.

Another example;
You see that ship you are flying? It does not actually exist according to the server. All the server sees is a sphere. Your ship literally has no front or back until you move.
So whatever "direction" your ship visually has is nothing more than an approxamation (sometimes not even that in the case of big ship as they will often warp "sideways")... so you cannot always rely on visual ques to know where you are heading.


As for seeing a margin scam... it's pretty easy. Just cross reference the prices on EVE Central... or look for historical trends on the ingame market window (no history is a red flag)

Most importantly, if it looks like you will be able to make ANY significantly high margin (more than 5%) by buying and selling in the same station... it is probably a scam.
Mag's
Azn Empire
#22 - 2015-04-14 02:36:45 UTC  |  Edited by: Mag's
X Seven wrote:
The issue here is that the client (via the market interface) is essentially lying to the player by showing an order which can't actually be filled.I really think no one cares that the eve client is broken. At least colorize the margin trade orders.
You can quote and misquote him if you wish, it still doesn't help your cause. Why you may ask? Well because once it was explained to him, he dropped it like a hot potato. Blink

You see the market lies about every order, as none of them are ever guaranteed. None. So if any change is required, I would say it is to inform pilots of that fact.

But that is quite frankly, irrelevant. Because that is not your issue here. Your issue is that fact that you judged a single buy/sell order, as reflecting the true price of an item. If you had taken the time to gather more information of it's true value, you wouldn't then have paid over the odds for said item.

This is what happened:
A. There you were, looking at someone offering a good price for an item and it just so happened someone else was selling that item for less. You thought 'lol, someone's really dropped a clanger and I could make some quick easy money here, off the back of some poor clueless pilot'. You then bought said item for an inflated price and the buy order failed. Well if ever someone counted chickens before they were hatched, you did. As no order is ever guaranteed. So there you are, left with over priced goods. Which you can still sell at a loss, so that's a bonus. I guess.

This is what should have happened:
B. You saw someone offering a good price for an item and it just so happened someone was selling it for less. You should have then thought, 'Oh, I could make some ISK here, let me check to see if that buy and sell order reflects the true value of that item.'
After checking you would have said to yourself, 'Oh dear, some muppet is going to fall for that, if they don't do the proper checks.' Or even bought the item far cheaper elsewhere and still tried to sell it to the buy order. Just for giggles.

But you went with A and then topped it off with a forum whine, just to show everyone how bad you are at market PvP.

Destination SkillQueue:- It's like assuming the Lions will ignore you in the Savannah, if you're small, fat and look helpless.

X Seven
Noob Corp Inc
#23 - 2015-04-14 03:04:12 UTC  |  Edited by: X Seven
I would love to understand why I am being attacked for trying to get something done about the margin trading scam or FRAUD as the case may be. Whether I was scammed or not it does not matter whatsoever. I really do not understand the way a faction of eve players value FRAUD. You can try to divide and conquer me all you want. I will not back down on this issue. When a buy order is up and has a price. The toon or corp. which placed that buy order should pay. They should pay by losing isk or loss of standings or loss of skill points to the margin trading skill. In RL there are severe penalties for margin trading fraud. In eve there is no risk for doing so whatsoever. No risk to cheat the market and the newbs. To me that is unacceptable. I really find it horrendous that we have people in this forum that want nothing to do with fixing a scamming/fraud problem. There is something so blatant in this thread that needs to be looked at. Oh this guy is butt hurt cause he got scammed. No, I didn't get scammed. It was pure and simple Fraud. Fraud is not acceptable in any known market except in EVE. That is a problem.

I am asking an begging any CSM member who reads this to please look at this problem. Look at it closely and understand that its the client that needs to be fixed. I don't want the margin trade skill gone. I believe it is good for the game. The eve client needs to represent truth.
Black Pedro
Mine.
#24 - 2015-04-14 06:35:37 UTC  |  Edited by: Black Pedro
X Seven wrote:
I would love to understand why I am being attacked for trying to get something done about the margin trading scam or FRAUD as the case may be. Whether I was scammed or not it does not matter whatsoever. I really do not understand the way a faction of eve players value FRAUD. You can try to divide and conquer me all you want. I will not back down on this issue. When a buy order is up and has a price. The toon or corp. which placed that buy order should pay. They should pay by losing isk or loss of standings or loss of skill points to the margin trading skill. In RL there are severe penalties for margin trading fraud. In eve there is no risk for doing so whatsoever. No risk to cheat the market and the newbs. To me that is unacceptable. I really find it horrendous that we have people in this forum that want nothing to do with fixing a scamming/fraud problem. There is something so blatant in this thread that needs to be looked at. Oh this guy is butt hurt cause he got scammed. No, I didn't get scammed. It was pure and simple Fraud. Fraud is not acceptable in any known market except in EVE. That is a problem.

The lack of sympathy you find here is because the margin trading scam is not some exploit that allows another player to sneak into a new player's wallet and steal their ISK as you seem to want to portray it. The scam is basically just false advertising, similar to many other scams out there that attempt to trick a mark into making a poor trade decision by confusing, misleading or lying to a player about the value of a particular trade good. It is the player's greed that blinds them the risks of buying some module they have never heard of to sell for a quick profit, or at a price way above the historic value (which the client provides accurately). Tricking a player like this is not an exploit my friend, that is market PvP.

The problem with increasing penalties is that it hurts legitimate users of the margin trading skill. Whenever I trade on margin (which is most of the time as with all serious traders) I already am careful about straying too close to my limit as failed orders are penalized by loss of my broker fees. If you added some punitive penalty it would hurt more market traders than any scammers, but the real problem is what will you say if the margin trade scammer accepts the consequence of the punishment? If some penalty was put in place and you, or someone like you, fell for the scam six months down-the-line, you will come to the forums complaining that the penalties are not tough enough as you managed to still get scammed (just like all those people that lose an overloaded transport ship coming here to demand more "consequences" for suicide gankers). And the cycle would continue until the margin trading skill was unusable.

I have no problem with adding more information to the client to help traders identify potential problem orders. If 3 years from now CCP decides that they want to completely re-write the market trading system, I would have no objection to colour-coding orders that were made on margin, or that lacked enough ISK to cover if they can do that. For now though, everything CCP said has indicated this is not technically possible, and even if it was, it really should be a low priority for developer resources since there are plenty of other ways to trick people into thinking something is worth more than it is.
ShahFluffers
Ice Fire Warriors
#25 - 2015-04-14 07:04:34 UTC
X Seven wrote:
I really do not understand the way a faction of eve players value FRAUD

Because "fraud" is in the eye of the beholder.

From my perspective... you are removing money from people with more greed and money than intelligence. And you gain intelligence through experience. And you gain experience by going through the situation it yourself.
And then you realize that the "horrible thing" that happened to you actually made you think, act, and behave smarter. Because there is always another such "horrible thing" around the corner.

(for disclosure: I fell for the Margin Scam early in my EVE life... I now look VERY closely at anything I buy and sell rather than "right-click, done")

X Seven wrote:
In RL there are severe penalties for margin trading fraud.

This isn't real life.

The context of EVE is a dystopia.
It's not meant to "work right" or be "fair." It's meant to be an exercise in Darwinism. And the market is probably the closest you will ever get to a "pure" libertarian market model... which expresses that Darwinism mantra very well.

I mean seriously... the game is full of Megacorporations and empires stripmine "lush and verdant moons" to construct massive supercapital ships... sometimes with slave labor... to wipe out hundreds of thousands of ships in single engagements... each ship with crews numbering from the dozens to the thousands... all the while rival factions within each Megacorporation and empire send in pirates to shoot and assassinate at each other... or commandeer one of the aforementioned supercapitals and pile drive it into a station to destroy any chance of peace talks... while another faction simply goes out hunting for victims on the spacelanes and literally drain their bodies of blood for ritual sacrifices... and you, the mighty immortal... a being given power through implants that are not even designed for your physiology... a being that is designed to wage war, conflict, and amass wealth in the hopes you will work on behalf of your empire... slaughter all of them wholesale... before making a mistake and losing several thousand of your crew... whose families will never be notified or paid any compensation... because **** you, you have more important matters to look into... like buying a new battleship...
*breathes*

Quote:
In eve there is no risk for doing so whatsoever. No risk to cheat the market and the newbs.

Oh... there is a risk. There is ALWAYS a risk.
However that risk is dependent on other players actually understanding what it is you are doing. And most people don't have a mind for economics... much less economics with few rules or restrictions.

But yeah... there ARE ways to throw a wrench into a market manipulator's plans. And there ARE ways you can screw over a margin scammer. You just have to understand the rules and toss any RL notions of "morality" or "ethics"...
... which, frankly, have no place in a game. All that matters are the "rules" and "spirit" of the game, in the context of the game itself.

Quote:
Fraud is not acceptable in any known market except in EVE. That is a problem.

We'll agree to disagree here. Some of the best stories of EVE are where one person screws over a whole mass of people. Or a whole mass of people burn everything "just cause."

Examples:

The end of BOB
The end of Goonswarm v1
The EVE Intergalactic Bank scam
Socratic's downfall
The first Revenant kill
Goonswarm Ice Interdiction
Hulk-a-geddon
POS-a-geddon


Quote:
The eve client needs to represent truth.

The game needs less "free intel" and give more opportunities for people to scam and cause more conflict. Because conflict is FUN!!
Cade Windstalker
#26 - 2015-04-14 08:28:26 UTC
If Rule 1 of Eve is "Don't fly what you can't afford to lose" then Rule 2 is "If it looks too good to be true then it probably is."

This goes for bait ships, OP ships (they'll get nerfed sooner or later), and strangely lucrative looking market orders.
admiral root
Red Galaxy
#27 - 2015-04-14 08:34:56 UTC
X Seven wrote:
Oh this guy is butt hurt cause he got scammed. No, I didn't get scammed. It was pure and simple Fraud.


Scams are fraud, so yes, you got scammed. That you keep ranting without sharing the juicy details of the story makes me think we're talking in excess of 10 billion.

Any chance of the scammer coming forward and telling this riveting tale?

No, your rights end in optimal+2*falloff

Mag's
Azn Empire
#28 - 2015-04-14 11:39:29 UTC
X Seven wrote:
Fraud is not acceptable in any known market except in EVE. That is a problem.
No, that is Eve.

You got greedy and didn't gather all the relevant information, before making an investment. You still have the goods, but paid way more than their true value. No one but you is to blame. Suck it up.

Destination SkillQueue:- It's like assuming the Lions will ignore you in the Savannah, if you're small, fat and look helpless.

Blake Dallocort
The Scope
Gallente Federation
#29 - 2015-04-14 15:46:55 UTC
I feel like your head would explode if you knew about fractional reserve banking irl...

The real world revolves around margin stuff just like Eve does. For traders it's nice not to have 30% of your capital tied to orders that might not fill for weeks.

If you do 30 seconds of research, you'll see that it's probably a scam of some sort.

Then you're mad about not having any repercussions, well there's nobody stopping you from hiring a merc to deal with the person. You could just as easily go after them yourself.

CCP won't do anything about this "broken" mechanic because there is nothing broken about it.
X Seven
Noob Corp Inc
#30 - 2015-04-14 16:31:57 UTC
http://i.snag.gy/kdu77.jpg

This image represents what am dealing with. Not one of you have offered any real solutions to fix the mechanic. It's is either because
A. You don't like change
B. You are involved in scamming
C. It's because that's the way things run around here.
D. You genuinely hate anyone who wants correct a mechanic that is exploitable.

My solutions are

1. If a buy oder fails you should be able to see their toons name. Then You should be able to flag that person as bad trader, Should that person have more bad flags( amount determined by ccp) then their buy orders are colorized as yellow for all to see.

2. Add names to all buyers

3. Colorize the margin trading buy orders.

4. Make the margin traders have enough isk in their wallet to cover their highest buy order or it cancels all their buy orders.This would protect the small buy orders and at least ensure coverage.

This is what I have so far and I know ther are more out there.

let's chop down trees and pave the road.
admiral root
Red Galaxy
#31 - 2015-04-14 16:43:26 UTC
X Seven wrote:
C. It's because that's the way things run around here and it works just fine.


I took the liberty of fixing your post.

No, your rights end in optimal+2*falloff

Elenahina
Federal Navy Academy
Gallente Federation
#32 - 2015-04-14 16:49:10 UTC
Cade Windstalker wrote:
If Rule 1 of Eve is "Don't fly what you can't afford to lose" then Rule 2 is "If it looks too good to be true then it probably is."


In Eve, if it looks too good to be true, not only is it definitely too good to be true, but you are about to take it up the keister if you don't move out with a quickness.

Eve is not a game of fair, with the single exception of everyone gets to play by the same set of rules. How I use those rules to screw you over, kill your ship, steal your loot, and deprive you of your economic opportunities. however, is completely open, and I in no way obliged to treat you with honesty, respect, or any sense of ethical consideration.

You are a victim, waiting for the axe to fall, until you come to terms with that.

(It took me three years to figure that out, and I still ocassionally get butt plowed when I leap before I look).

Eve is like an addiction; you can't quit it until it quits you. Also, iderno

X Seven
Noob Corp Inc
#33 - 2015-04-14 17:05:51 UTC
And the continuation of climbing the ladder begins again....
admiral root
Red Galaxy
#34 - 2015-04-14 17:23:11 UTC
X Seven wrote:
And the continuation of climbing the ladder begins again....


No, you're just upset over some pixels.

No, your rights end in optimal+2*falloff

Malcanis
Vanishing Point.
The Initiative.
#35 - 2015-04-14 17:30:59 UTC
Hand up everyone in this thread who personally discussed this issue with CCP Rise face to face and can therefore claim equal understanding of his intent

Anyone...?


Bueller? Anyone?

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

Grath Telkin, 11.10.2016

Mag's
Azn Empire
#36 - 2015-04-15 00:58:59 UTC  |  Edited by: Mag's
X Seven wrote:
http://i.snag.gy/kdu77.jpg

This image represents what am dealing with. Not one of you have offered any real solutions to fix the mechanic. It's is either because
A. You don't like change
B. You are involved in scamming
C. It's because that's the way things run around here.
D. You genuinely hate anyone who wants correct a mechanic that is exploitable.
None of the above. Why? Because the fix to your problem is already available.
Like I said earlier, IF any change is required, it's to inform pilots that NO order is guaranteed.

What you are asking for, is a way that means those greedy lazy types, don't get caught out by their own actions, or should I say lack of. You're asking for the removal of consequences, when they try and screw over other market players and it backfires, due to their incompetence.

But judging by your lack of understanding of the current mechanics, I doubt that even a warning would have helped you. You would still be here, informing us of just how bad you are at the game. If there was ever a time a corp name was apt, this is it.

Destination SkillQueue:- It's like assuming the Lions will ignore you in the Savannah, if you're small, fat and look helpless.

X Seven
Noob Corp Inc
#37 - 2015-04-15 02:33:54 UTC
Cmon keep attacking me. When there is smoke there is fire.
Rawketsled
Generic Corp Name
#38 - 2015-04-15 09:45:41 UTC
The game doesn't need fixing. Player ignorance needs fixing. That's what CCP needs to fix.

Margin Trading wrote:
Ability to make potentially risky investments work in your favor. Each level of skill reduces the percentage of ISK placed in market escrow when entering buy orders. Starting with an escrow percentage of 100% at Level 0 (untrained skill), each skill level cumulatively reduces the percentage by 25%. This will bring your total escrow down to approximately 24% at level 5.

This skill cannot be trained on Trial Accounts.


To be fair, the Margin Trading skill doesn't explain that margin trades will fail on empty wallets. CCP doesn't need to explain the consequence of it; merely the facts. Let players piece things together themselves.
X Seven
Noob Corp Inc
#39 - 2015-04-15 13:15:21 UTC
As it seems not many in this thread like what I am trying to do. The basic, mere basic of risk is one sided on this issue. When I say one sided I mean there is 0 risk for the buyer when done correctly. 0 risk for the buyer. His name isn't given out, he is protected. No one knows who he is. There can be no retaliation against him. He is more protected than anyone else in this game. Call me greedy all you want but the guys doing the buy orders with ultimate protection are just as greedy as anyone else in this game. The Buyer has 0 risk against them. The person many of you are defending has no risk in this game. We all talk a good game about risk but risk should go both ways. I want to know who is screwing me over when I get screwed over. If this is market pvp then I want it like ship pvp. I want to know who didn't take the order. Who took their money out of their wallet. If you lose your ship I guarantee you are looking at that combat log. Looking to see who killed you. I bet that combat log has the names of those who just shot you. Well the guys who sell to these buyers don't get that. Don't start with the sellers because that is a different toon that does that. We know the names of the toons we buy from. If a buy order is issued whether it goes through or not you should at least get the name of the toon. That would be risk on the buyers part. I would be happy if they had at least some risk in this game instead of being fully protected and anonymous.
Black Pedro
Mine.
#40 - 2015-04-15 13:36:15 UTC
X Seven wrote:
As it seems not many in this thread like what I am trying to do. The basic, mere basic of risk is one sided on this issue. When I say one sided I mean there is 0 risk for the buyer when done correctly. 0 risk for the buyer. His name isn't given out, he is protected. No one knows who he is. There can be no retaliation against him. He is more protected than anyone else in this game. Call me greedy all you want but the guys doing the buy orders with ultimate protection are just as greedy as anyone else in this game. The Buyer has 0 risk against them. The person many of you are defending has no risk in this game. We all talk a good game about risk but risk should go both ways. I want to know who is screwing me over when I get screwed over. If this is market pvp then I want it like ship pvp. I want to know who didn't take the order. Who took their money out of their wallet. If you lose your ship I guarantee you are looking at that combat log. Looking to see who killed you. I bet that combat log has the names of those who just shot you. Well the guys who sell to these buyers don't get that. Don't start with the sellers because that is a different toon that does that. We know the names of the toons we buy from. If a buy order is issued whether it goes through or not you should at least get the name of the toon. That would be risk on the buyers part. I would be happy if they had at least some risk in this game instead of being fully protected and anonymous.

Friend, let the bitterness go. You were tricked by another player and lost some ISK. Learn from your mistake and move on.

Even if you knew the name of the character that listed that market order, in all likelihood there is nothing you could do to him or her. As a market-focused character they might never undock, and as the market is anonymous (until a purchase is made) there is no simple way you can know what orders or trades they are participating in.

Your best bet for revenge is to look for similar scam buy orders where you were scammed and use some of the methods discussed in these forums to mess with that scammer. But really, for your mental health, just chalk it up as a PvP loss and a learning experience and let it go.
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