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Writing Checks they cant cash.....

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Author
unidenify
Deaf Armada
#41 - 2013-09-24 21:01:01 UTC  |  Edited by: unidenify
how would I able to tell if Buy order is margin or not?
Jack Miton
School of Applied Knowledge
Caldari State
#42 - 2013-09-25 05:35:38 UTC
He mad? ooooo he mad!
Just buy your crap at a market hub and you wont have this issue.
(Or you could just read the orders properly.)

There is no Bob.

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RubyPorto
RubysRhymes
#43 - 2013-09-27 21:10:08 UTC
unidenify wrote:
how would I able to tell if Buy order is margin or not?


Sell to it. If it fails, shrug and sell to the order offering .01 ISK less.


(If there isn't a robust set of buy orders, consider the risk of betting everything you have that you're the only one who spotted the incredibly profitable offer being spammed in Jita local.)

"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

Goldiiee
Bureau of Astronomical Anomalies
#44 - 2013-09-27 22:02:04 UTC
RubyPorto wrote:
unidenify wrote:
how would I able to tell if Buy order is margin or not?


Sell to it. If it fails, shrug and sell to the order offering .01 ISK less.


(If there isn't a robust set of buy orders, consider the risk of betting everything you have that you're the only one who spotted the incredibly profitable offer being spammed in Jita local.)

:) this sounds very reasonable.

Of course I think a week ago I saw a list of 15 to 20 overpriced buy orders on modules worth 10% of what was listed, and of course in local someone spamming wanting to part with the exact same module for 90% of what appeared on buy orders.

The best advice, if it looks like a big payday then it probably is, just not for you. :) #
Don't pay someone else for doing nothing and don't expect the same.

Things that keep me up at night;  Why do we use a voice communication device to send telegraphs? Moore's Law should state, Once you have paid off the last PC upgrade you will need another.

RubyPorto
RubysRhymes
#45 - 2013-09-27 22:21:04 UTC
Goldiiee wrote:
RubyPorto wrote:
unidenify wrote:
how would I able to tell if Buy order is margin or not?


Sell to it. If it fails, shrug and sell to the order offering .01 ISK less.


(If there isn't a robust set of buy orders, consider the risk of betting everything you have that you're the only one who spotted the incredibly profitable offer being spammed in Jita local.)

:) this sounds very reasonable.

Of course I think a week ago I saw a list of 15 to 20 overpriced buy orders on modules worth 10% of what was listed, and of course in local someone spamming wanting to part with the exact same module for 90% of what appeared on buy orders.

The best advice, if it looks like a big payday then it probably is, just not for you. :) #
Don't pay someone else for doing nothing and don't expect the same.



I forgot to mention the most important thing. For any item you want to invest in, look at the market history and don't overpay.

"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

Raphael Celestine
Celestine Inc.
#46 - 2013-10-01 09:37:10 UTC
RubyPorto wrote:
For anyone to be constructive in solving a problem, there first has to be a problem. Nobody's bothered to explain what exactly the problem with the Margin Trading skill is.

There's been a lot of bleating about somehow deserving to automatically sell things at above market value prices just because you bought from an overpriced order, but no explanation of who exactly gets harmed by a buy order failing, or what's special about buy orders disappearing due to an escrow failure rather than being beaten to the deal.

I'd argue that there's a problem when the market is displaying orders that cannot possibly be sold to at all.

In particular, the problem is that those orders can be made to look exactly like a legitimate order.* A new player who doesn't know that the Margin Trading skill exists can come across a scam where they are unable to spot the trap even if they are looking for one. I can't think of a single other scam in EVE which can't be detected by a sufficiently close examination of the items/contract/etc. (Other than the ones that rely on a player outright lying to you, of course...)

What I'd like to see is for the skill to be changed so that all orders still need to be at least partly fillable. Any time the escrow (or escrow plus wallet) doesn't have enough ISK to cover the minimum purchase (I.E. purchase price * minimum quantity), the order should fail preemptively.

This would barely affect anyone using the margin trading skill legitimately - if you're using the margin-trading skill 'as intended', you should be expecting to always have more than enough ISK on hand to buy at least one item, even though you don't have enough ISK to buy all of the items. On the other hand, it means that a margin trading scam can't be set up without being exploitable.

*The primary giveaways are minimum quanities greater than one, buy orders higher than a sell-order at the same station, and spikes on the sales history where the seller cleared his escrow - but neither of those are actually necessary for the scam. They make it more efficient, certainly, but it's perfectly possible to set up the scam so that none apply.
RubyPorto
RubysRhymes
#47 - 2013-10-01 17:29:42 UTC
Raphael Celestine wrote:
A new player who doesn't know that the Margin Trading skill exists


New players don't have enough ISK to fall for a margin scam.

Quote:
can come across a scam where they are unable to spot the trap even if they are looking for one. I can't think of a single other scam in EVE which can't be detected by a sufficiently close examination of the items/contract/etc. (Other than the ones that rely on a player outright lying to you, of course...)


The general, "if it's too good to be true" maxim works well for spotting this trap. Anyone interested in investing in anything should understand the real value of the good they plan on investing in, and not pay more than that value.

Remember, the scam is over once you've bought the overpriced good.

Quote:
What I'd like to see is for the skill to be changed so that all orders still need to be at least partly fillable. Any time the escrow (or escrow plus wallet) doesn't have enough ISK to cover the minimum purchase (I.E. purchase price * minimum quantity), the order should fail preemptively.


An order failing cannot possibly hurt anyone but the person who's order it is. Why should the server check the wallet and every order of every character every single time any of their orders is touched to prevent a situation that cannot possibly hurt anyone? Why should newer market players suffer a cascading failure of orders every time they run into a liquidity crunch?

Also, any order is partly fillable. You don't have to sell your items at the price listed on a buy order, you can sell to it at a lower price.

Quote:
This would barely affect anyone using the margin trading skill legitimately


Find a citation for CCP's definition of "legitimate use" of the margin trading skill, and show me where it excludes scamming.

Scamming is legitimate gameplay in EVE.

"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

Myriad Blaze
Common Sense Ltd
Nulli Secunda
#48 - 2013-10-02 18:57:42 UTC
The only "issue" I see with the Margin Trading skill is that you can deplete the escrow to zero (and it's debateable if that's an issue at all).

From the skill description it seems that the minimum level of the escrow is supposed to be 24% of the order value. I'd say depleting the escrow is an example of emergent gameplay and it was a brilliant idea from whoever came up with this first. But it seems unlikely that depleting the escrow to zero was intended when the skill was designed.

A "fix" seems to be simple (at least in theory - no idea how difficult it would be to code it or how much impact it would have on server stress):
Make it so, that the escrow is always at the minimum level. If the escrow falls below the threshold, for example because of a filled order, the system should draw the isk from the wallet of the order owner to refill the escrow to the minimum level; and if there isn't enough isk in the wallet the order fails.
That way you could still set up margin trading scams but would risk some isk doing so. And people who recognize the scam for what it is (and usually that's not so difficult) have a chance to get the isk from the scammer ... if they can do some simple math and have the item(s) needed available.

However, as with all "fixes" you would have to evaluate if the "cost" to fix something is justified by the outcome. The Margin Trading Scam adds some danger to market PvP and forces traders to stay alert. Somehow I think that this is very fitting for this game. And therefor I'm not so sure it would be worth it to spend development time on this just to make it riskier for scammers. At least I would put it very low on the priority list.

Ciaphas Cyne
Moira.
#49 - 2013-10-10 12:21:29 UTC
ah yes the rare and delicious "margin tears"

thank you for letting us all know your a sucker

"buff only the stuff I fly and nerf everything else"

  • you
Gizznitt Malikite
Agony Unleashed
Agony Empire
#50 - 2013-10-10 18:42:38 UTC

First off, there is a big difference between writing a "bad check" a failed buy order. With the bad check, you actually acquire the goods and services you were buying. With a failed buy order, you lose broker fees and gain nothing!

Have you ever ordered drive through only to discover you don't have your wallet? Ever have a prescription filled only to leave it behind because you don't have your insurance card? As long as you don't take possession of the food (aka like eat the food before realizing you can't pay for it), there are very few recourses a business can take against you.

Many businesses deal with "false buy orders" on a regular basis. The majority of times it is accidental, and they eat the cost of prepping the food and hope to sell it to someone else. Sometimes it is malicious (did you ever have unpaid pizza delivered to someone as a prank?), and in these cases the Business owners take steps to avoid future losses.

In EvE, which is purposely dystopic, you too can suffer from "false buy orders". You can also implement good business practices to avoid future losses (like researching the true value of your goods, as well as their sales volume and volatility). And unlike the above scenarios, when the buy order fails, you keep the goods, which are NOT perishable, meaning it is even easier to avoid losses like the above.

In short.... do some research when engaging in trade-for-money, and quit trying to change the market system because your to lazy or incompetent to cope with this simple concept.
Reaver Glitterstim
The Scope
Gallente Federation
#51 - 2013-10-12 05:25:36 UTC
Gizznitt Malikite wrote:
**wisdom and truth**

Why aren't you on the CSM?

FT Diomedes: "Reaver, sometimes I wonder what you are thinking when you sit down to post."

Frostys Virpio: "We have to give it to him that he does put more effort than the vast majority in his idea but damn does it sometime come out of nowhere."

Sabriz Adoudel
Move along there is nothing here
#52 - 2013-10-14 06:16:18 UTC  |  Edited by: Sabriz Adoudel
Thank you for the entertainment.

Was even better than the 1½ PLEX worth of ISK I took you for (well, it cost you 1.7 PLEX worth but broker fees are expensive so I only got 1.5). Wish I had seen this thread earlier; I've just gone and linked it in four scammer channels.

I support the New Order and CODE. alliance. www.minerbumping.com

Sgt Bamcis
Caldari Provisions
Caldari State
#53 - 2013-10-16 01:33:31 UTC
I just saw this thread. I lol'd.

OP got scammed.

Sucka.
Sgt Bamcis
Caldari Provisions
Caldari State
#54 - 2013-10-16 01:36:05 UTC
Gizznitt Malikite wrote:

*smart stuff*


I'd like to subscribe to your news letter.
Altaren Famas
Black Goats
#55 - 2013-10-29 03:11:56 UTC
Havent read thru 3 pages so dunno if this was already suggested. I wonder if we could have like an escrow for buy orders. Put in some isk and you can place orders that dont exceed that amount. If an order fills isk gets drawn from the escrow. If you dont have enough isk inside orders that are over what you have get put on hold - made invisible until you put more isk in. Curious if thar would work or if i am missing something obvious.
Fluffy Sheep
Contra Operative Knights
#56 - 2013-10-29 18:37:15 UTC  |  Edited by: Fluffy Sheep
Here is an idea CCP will like: Another skill for people to train Big smile

A skill that lets someone remotely check if an order has the funds or materials needed to complete the transaction. Each level of the skill increases the distance this can be done at as with the other trading skills.

Problem solved for those with the skill injected and trained to at least lvl1.

Open a market order, click the check button and it says if it's able to be filled or not. If you are out of range, it tells you so and sugsests you train your skill higher.
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