Min Lo
Docwagon
8
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Posted - 2014.11.19 15:14:39 -
[2] - Quote
Hi Kane/Kain,
Please let me know if you'd prefer that I edit this post to simply read as a testimonial of successfully completed business with you. However, if you don't mind my sharing, I thought I'd give some background about our past communications and how we both hoped to serve the Dust and Eve communities by working together.
There are so few people in this business of exchanging isk between Eve and Dust, that I'm more worried that customers won't have easy access to exchanges, than I am worried about competition among exchange operators. When I learned that Kane had been operating an exchange (something I wish I'd learned earlier, since I spent a good deal of Eve isk on price discovery ) we wrote each other about how we could help each other.
The exchange rates I offer are driven by the traffic I get. More exchanges in one direction shrink one of my isk piles while the other grows. The more this happens in one direction, the more I move my offered rates to encourage traffic in the opposite direction and to maintain some balance between my isk piles. I imagine Kane does something similar. However, I think my exchange may be more visible among Dust players, and Kane's exchange may be more visible among Eve players.
As a consequence the possibility occurred to us both that I might see more Dust to Eve transfers, and Kane might see more Eve to Dust transfers. This could also be driven by differences between our offered rates. I offer Eve to Dust transfers at 1:5.5 ratio, which is substantially poorer than Kane's current 1:4 ratio for Eve to Dust transfers. If Kane's Dust isk pile ever gets low, he can let me know and we'll do a kind of "interbank transfer" at a middle-ground rate.
This means that customers that shop around get the best Eve to Dust rate and the best Dust to Eve rate. It also means that Kane and I help keep each other in business, so that our combined liquidity and isk piles and friendly adjustments of our rates, help keep this service available to Eve and Dust players.
Right now, Eve players can use Kane's service to try Dust, converting 400M Eve isk into 100M Dust isk. And if they don't like Dust or they make a lot of Dust isk and want to convert it back to Eve, can use Kane or my exchange (currently offering x3.75 for Dust to Eve transfers) to turn their 100M Dust isk back into 375M Eve isk. That's a tight margin and a very small loss for any Eve players transferring their wealth into and back out of Dust.
That's the history I thought potential customers might like to know about. The cost of using your Eve isk wealth to try out Dust has never been this low before.
And to Kane, if my Dust isk pile gets much bigger, I might drop my Dust to Eve rate to x3.5; if that happens I'd anticipate continuing to offer you x3.75 as an "inter-bank exchange rate" to split the difference between my rate and your offered Eve to Dust rate of 1:4 (just in case your Dust isk pile gets low). I might then ask you for the same "inter-bank exchange rate" of 1:3.75, if my Eve isk pile ever gets uncomfortably low.
I think that working with you in the past has been beneficial for everyone: stabilizing the rates, ensuring the liquidity of both our exchanges, and doubling the available "bank tellers" to help complete customer's exchanges. I look forward to that cooperation continuing.
Also please let me know if you'd prefer that I offer these sorts of arrangements here, or in the Dust thread, or via evemail.
-Gyn Wallace/Min Lo
-Gyn Wallace, Dust
-Min Lo, Eve
The Eve/Dust Isk Exchange Thread
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