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Can someone explain this scam to me?
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Darth Bri
Maniaci Dello Spazio
#1 - 2012-01-16 18:21:03 UTC
I saw a buy order for Bloodclaw missiles in Jita that was much higher than any others. I have a giant stash of them, so I decided to take them out to sell. Both the total quantity and the minimum quantity were set at 19 million, at 40 ISK each.

When I went to sell the missiles, instead of actually selling them, it placed a sell order for them at the 40 ISK per.

1) what scam is this?
2) how would this person possibly make any ISK at it?
Vaerah Vahrokha
Vahrokh Consulting
#2 - 2012-01-16 18:27:07 UTC
1) The "new" market buy / sell can do that, depending on whether you have it opened in the regular or advanced mode.

2) It's not a new scam. It's a margin trading scam where someone puts up some very expensive items for sale, then puts up buy orders that WILL fail (he has a tiny wallet so the transaction won't go thru). Result, you bought overpriced stuff and now you have it on your neck to take.

EvE Online portal | EvE markets tutorials
Darth Bri
Maniaci Dello Spazio
#3 - 2012-01-16 19:07:57 UTC
How can you place a buy order without even having the funds?
flakeys
Doomheim
#4 - 2012-01-16 19:23:55 UTC  |  Edited by: flakeys
Vaerah Vahrokha wrote:
1) 2) It's not a new scam. It's a margin trading scam where someone puts up some very expensive items for sale, then puts up buy orders that WILL fail (he has a tiny wallet so the transaction won't go thru). Result, you bought overpriced stuff and now you have it on your neck to take.

Vaerah Vahrokha wrote:
1) 2) It's not a new scam. It's a margin trading scam where someone puts up some very expensive items for sale,

Vaerah Vahrokha wrote:
1) 2) It's not a new scam. It's a margin trading scam

Vaerah Vahrokha wrote:
1) It's a margin trading scam

Vaerah Vahrokha wrote:
margin trading

We are all born ignorant, but one must work hard to remain stupid.
Bumblefck
Kerensky Initiatives
#5 - 2012-01-16 19:24:14 UTC
You do it by double posting **** threads

Perfection is a dish best served like wasabi .

Bumble's Space Log
De Guillaume
Infinite Point
Pandemic Horde
#6 - 2012-01-16 19:38:00 UTC
explain margin trading

I am not a big market guy so a noob here. but isn't the simple principle of a buy order that when you make it, it takes the money out of ur wallet so unless the guy remove the buy order the sec the sell order was taken, how does the buy order fail due to isk.

Has you ever went so far as chose to go even use want to look more like do?
Scrapyard Bob
EVE University
Ivy League
#7 - 2012-01-16 19:45:45 UTC
Darth Bri
Maniaci Dello Spazio
#8 - 2012-01-16 20:15:03 UTC
Wow! I always thought you market nerds were friendly! I apologize for being wrong.
Roscada
We love Egg
#9 - 2012-01-16 20:31:59 UTC
Darth Bri wrote:
Wow! I always thought you market nerds were friendly! I apologize for being wrong.


This question comes up multiple times/day. They gave you the name and pointed you in the right direction. If the denizens of MD spent all day handholding people through the specifics of the margin trading scam, nothing else would ever get done.
flakeys
Doomheim
#10 - 2012-01-16 20:53:06 UTC
Darth Bri wrote:
Wow! I always thought you market nerds were friendly! I apologize for being wrong.



One person explained after wich you asked what the scam was , i then highlighted the scam .Another guuy asks for an explanation and get's the appropriate link.


So enlighten me/us please in wich way we offende you SiR besides one daily troll on MD making a double post joke?We would like to learn from our mistakes and it seems we have made a big one here.



Our appologies and we hope to treat the next person more kindly and a lill more tender.

We are all born ignorant, but one must work hard to remain stupid.
Darth Bri
Maniaci Dello Spazio
#11 - 2012-01-16 21:21:00 UTC
flakeys wrote:
Darth Bri wrote:
Wow! I always thought you market nerds were friendly! I apologize for being wrong.



One person explained after wich you asked what the scam was , i then highlighted the scam .Another guuy asks for an explanation and get's the appropriate link.


So enlighten me/us please in wich way we offende you SiR besides one daily troll on MD making a double post joke?We would like to learn from our mistakes and it seems we have made a big one here.



Our appologies and we hope to treat the next person more kindly and a lill more tender.



I assure you, the double post was not a joke, but rather an indication that the EVE forums and my iPhone have a problem working together.

And I am sorry for using your forum improperly. I will now let you go on with whatever other cynical aspirations you have today.
Tasko Pal
Spallated Garniferous Schist
#12 - 2012-01-16 22:57:19 UTC
Stick hand in cage to reach legendary MD friendliness.
Brock Nelson
#13 - 2012-01-16 23:46:31 UTC
Gallente Citizen 20120114 wrote:
You do it by double posting **** threads



LOLOLOLOLOLOLOL Your name dude! Told ya that was gonna happen Lol

Signature removed, CCP Phantom
RubyPorto
RubysRhymes
#14 - 2012-01-17 00:03:43 UTC
Brock Nelson wrote:
Gallente Citizen 20120114 wrote:
You do it by double posting **** threads



LOLOLOLOLOLOLOL Your name dude! Told ya that was gonna happen Lol


Is that BumbleFck? That's hilarious.

"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
flakeys
Doomheim
#15 - 2012-01-17 16:47:43 UTC
Darth Bri wrote:
flakeys wrote:
Darth Bri wrote:
Wow! I always thought you market nerds were friendly! I apologize for being wrong.



One person explained after wich you asked what the scam was , i then highlighted the scam .Another guuy asks for an explanation and get's the appropriate link.


So enlighten me/us please in wich way we offende you SiR besides one daily troll on MD making a double post joke?We would like to learn from our mistakes and it seems we have made a big one here.



Our appologies and we hope to treat the next person more kindly and a lill more tender.



I assure you, the double post was not a joke, but rather an indication that the EVE forums and my iPhone have a problem working together.

And I am sorry for using your forum improperly. I will now let you go on with whatever other cynical aspirations you have today.




So , you can not answer why you feel misstreated by people who actually responded to your question yet feel the need to once more make assumptions as i can not see where i said it was my forum in the first place.

We are all born ignorant, but one must work hard to remain stupid.
Nerath Naaris
Pink Winged Unicorns for Peace Love and Anarchy
#16 - 2012-01-18 12:30:34 UTC
Darth Bri wrote:
Wow! I always thought you market nerds were friendly! I apologize for being wrong.


If you want to see friendly people in Eve, go to Amamake, top belt; Market-PvP is a bit more hardcore...

Je suis Paris // Köln // Brüssel // Orlando // Nice // Würzburg, München, Ansbach // Saint-Étienne-du-Rouvray

Je suis Berlin // Fort Lauderdale // London // St. Petersburg // Stockholm

Je suis [?]
Storz Bickel
Aliastra
Gallente Federation
#17 - 2012-01-23 21:38:11 UTC
The simple answer to your question Darth is that if you have the Margin Trading Skill, you can indeed enter buy orders for more ISK than you have in your wallet.

In the real world, unregulated margin trading is what caused the Great Depression.
RubyPorto
RubysRhymes
#18 - 2012-01-24 03:27:11 UTC
Storz Bickel wrote:
The simple answer to your question Darth is that if you have the Margin Trading Skill, you can indeed enter buy orders for more ISK than you have in your wallet.


Two weeks old? Check. Already answered? Check. Neeecro.

Quote:

In the real world, unregulated margin trading is what caused the Great Depression.


No... just no. The Great depression was caused by so, so many things.

The European Allies calling in German War Reparations (when it didn't have any money) because,
The US was calling in the debts the Euros amassed during WW1. The US took those payments and lent them to Germany so that they could pay their Reparations. Nifty little house of cards.

The Gold standard and various gold trade treaties caused the depression to spread around the world.


The Stock market crash was a plain ordinary bubble, just like every major crash since Tulipmania in ~1620s Netherlands. A bubble crashing does not inevitably lead to a depression (or even a recession), the groundwork for one has to already be there.

"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