| Author |
Thread Statistics | Show CCP posts - 0 post(s) |
Billy Kidd
   |
Posted - 2010.12.06 12:43:00 -
[1]
Edited by: Billy Kidd on 06/12/2010 12:44:57
The scam can be done with a minimum buy volume of 1.
For example,
1. You put up a buy order for 4 units of Item X at 100m each.
2. The total escrow is 400m, but with margin trading V, you only have to pay 93m to setup the buy order.
3. You take isk out of your wallet so that you have less than 7m in your wallet.
4. On another character, you put a sell order for 4 Item X at 50m each.
5. Someone buys all 4 Item X, but when he tries to fill your buy order, you can't come up with 100m isk (to pay for even one Item X) from your escrow (93m) and your wallet (less than 7m).
5. Your buy order bounces, your escrow is refunded, and you lose money through taxes, but you filled your sell order so you come out ahead.
So setting up the minimum buy volume to 1 won't protect you all the time.
|
Billy Kidd
|
Posted - 2010.12.06 14:02:00 -
[2]
There's only so much damage a person can do though, as trying to juggle more than one scam order gets riskier and risker since failing one order can mean fulfilling others if you're not on top of your game.
The maximum a character can run with absolute safety is 8 orders (one for personal wallet, one for each corp wallet), so you'd need many accounts before you start seriously affecting the market. The restriction of one scam order per wallet plus the steady losses in taxes kinda limit the potential effects of this scam. |
Billy Kidd
|
Posted - 2010.12.06 14:51:00 -
[3]
 Originally by: kakmonstret
Yeah a market order should be a commitment to buy. But that would require some sort of loaning mechanism. There is also the problem with throw away alts.
Even something as simple as an overdraft charge would fix this problem. Whether this is the right thing to do is another question entirely, since it that could cause problems for people who don't run out of cash on purpose (but that certainly doesn't prevent real-life banks from doing this to customers).
|
Billy Kidd
|
Posted - 2010.12.07 14:49:00 -
[4]
Originally by: Conrad Lionhart
OP you should use an online market site.
http://eve-central.com/
It may help minimize the chances of you getting scammed.
Sorry, that doesn't help against this kind of scam, as that site doesn't show whether or not the person behind the buy order has enough money to fulfill the order.
|
Billy Kidd
|
Posted - 2010.12.07 16:55:00 -
[5]
Originally by: jerichot
Originally by: Vaal Erit
CCP's response
Umad OP?
What was that ? teenagers/college boys wannabe rappers music ?
Actually, those are CCP developers playing music for you. And those girls in the Shanghai office sure look cute...
|
Billy Kidd
|
Posted - 2010.12.07 17:10:00 -
[6]
If CCP intended margin trading to be used in this way, then what's weird is that CCP hasn't implemented margin-selling to go along with margin-buying.
You can promise to buy something without putting money down, but you can't promise to sell something without having the items on hand. Since people are arguing that margin-buying "protects" buyers and sellers by ensuring that the buyer and the seller have all terms of the trade before allowing the trade to complete, then why can't the same reasoning be used to justify an equivalent on the sales side of the market?
IE. I want to sell 5 ships for 50m each, but I don't have the last two just yet. Give me the money for the last two now, and I'll get the ships to you ASAP.
|
| |
|