34 replies to this topic

[higgs]

Is there enough interest to make it possible? If not, there won't be any point messing with all the details, even if it was a great discussion.
If you're interested, can you post and maybe give an estimate of how much you'd like to invest? Then we can decide if the pool is big enough. Thanks!
Oh and also if you'd like to be an admin.

[Thuley]

I am still not clear how the risk of the one trader who holds all the cash just walking away with it is mitigated.

Let's say, just for argument's sake, that 1,000 members of this forum invest 1g each for a total investment of 1,000g.
Now the risk to the investor is small, only 1g each, but the gain for the trader is 1,000g if (s)he just walks away.

[Liric]

So let Thuley hold the money - who would stand to lose more in the way of reputation than the sole operator of Ehmry Bay's most popular (or only?) forum? He's not affiliated with any guild that would stand to gain and in fact could probably not be in the future if he walked away with all of the gold. Not that he would. =p

[higgs]

iirc the "report" button has "scamming" as a choice. So worst case scenario, if the dude disappears on us, we could all submit reports and depending on how many reports and how much gold stolen, Anet may chose to perma ban. So it's a huge risk to steal, especially if that account took a lot of time and effort.
But I'm not too worried about that. I know we're above that.

[PieSmash]

So how is this gonna work? Couldnt we just organise a mass buyout of some item, then have a schedule indicating what days each person in on this sells off their mats at X cost?

This would cause a demand for the item and cause prices to bloat, then we come in selling small/meduim amounts back for a lower cost price (since we bought out all the cheap ones) over a period of time (probably a few months).

Ectos would be great to do this on since we have all seen how much they can fluctuate, dyes would probably go well also.

The only issue this leaves is people aware of this tactic and coming in and undercutting us. This is why a schedule needs to be implemented and adhered to by all.

For example we buy 10000 ectos at 22-26s each, then this causes a blowout in demand at the cost to skyrocket causing the price to become approx 30s per ecto, we then sell small quantities (say 100 at a time) to prevent the cost dropping again

[Thuley]

Liric Whitecloak, on 05 December 2012 - 06:12 PM, said:

So let Thuley hold the money

Well, the person who's doing the buying and selling needs to hold the money, and I definitely don't want to be that person.

higgs, on 05 December 2012 - 06:31 PM, said:

iirc the "report" button has "scamming" as a choice. So worst case scenario, if the dude disappears on us, we could all submit reports and depending on how many reports and how much gold stolen, Anet may chose to perma ban. So it's a huge risk to steal, especially if that account took a lot of time and effort.
But I'm not too worried about that. I know we're above that.

There's a thread in the guild recruitment section of people stealing 1g worth of stuff from a guild bank.  It's basically guaranteed that someone who collects 1,000g will take the money and run.

PieSmash, on 05 December 2012 - 09:56 PM, said:

For example we buy 10000 ectos at 22-26s each, then this causes a blowout in demand at the cost to skyrocket causing the price to become approx 30s per ecto, we then sell small quantities (say 100 at a time) to prevent the cost dropping again

Well, ectos are already at 34, but the real issue is that the ecto supply is unlimited and barring any massive changes in player concurrency the rate at which ectos enter the market is fairly constant.  If you want to corner the ecto market you basically have to by up all ectos that will be put up below your selling price.  That's not really feasible with more than 1,000 on the market because you have no way to know how many there actually are, could be 1,001 or 10,001.

[Jillabee]

Oh Thuley, ye of little faith in humanity.... I agree. LOL

[PieSmash]

Thuley, on 06 December 2012 - 05:10 AM, said:

Well, ectos are already at 34, but the real issue is that the ecto supply is unlimited and barring any massive changes in player concurrency the rate at which ectos enter the market is fairly constant.  If you want to corner the ecto market you basically have to by up all ectos that will be put up below your selling price.  That's not really feasible with more than 1,000 on the market because you have no way to know how many there actually are, could be 1,001 or 10,001.

The 1000 was meant as an example (which I did state), it would need to be the amount that is required where a significant price jump occurs (next listing jumps 1-2s or more or something like that), anyways this is just an example, im sure there is something out there with some good price jumps. At any rate no matter how this strategy is implemented we come to the issue as Thuley mentioned where some level of trust would be required between people in on the scheme. Pooling cash is the most dangerous, undercutting is also an issue, but not as bad as the aforementioned.

Perhaps we could list some items that are known to have price jumps in listings and are sold in low quantities? And then afterwards we could talk strategy

A FIFO selling scheme could be used pretty effectively, when/if we decide to buy-up something we sell them in the order in which people subscribed to the idea here on the forums (eg Liric comes up with an item, he gets first place, Jillabee posts next saying they want in, then they are 2nd and etc etc)

[higgs]

Thuley, on 06 December 2012 - 05:10 AM, said:

Well, the person who's doing the buying and selling needs to hold the money, and I definitely don't want to be that person.

That person doesn't need to spend a ton of time or even be familiar with the GW2 market. Really all they need to do is click some buttons that other people will tell them to click.

Thuley, on 06 December 2012 - 05:10 AM, said:

There's a thread in the guild recruitment section of people stealing 1g worth of stuff from a guild bank.  It's basically guaranteed that someone who collects 1,000g will take the money and run.

Well, that's if a random person is chosen to be banker. If the banker is chosen well, it's basically guaranteed that the funds are safe. Plus, would anyone risk (with a good chance) getting their account terminated, which they spent hundreds of hours on, for a few thousand gold? I wouldn't.

Of course there's always the option to market zerg, but then we can't play with the stuff that costs like 50g a pop. But either way, gotta know how much total money we'll be dealing with.

Sooo I'll start. I'll probably put in 30g (me so rich yo) if this gets going.

[PieSmash]

I'm poor so I cant really take part at the moment, but in the future i'd definitely be in. Banking the gold is a riskier option, but with a much greater reward. I think to begin with it would be better to just market zerg just to see what happens and what kind of profits can be made. This method is alot safer since the only threat is undercutting, and if organised correctly we could see some significant individual profits

[Tharickster]

higgs, on 06 December 2012 - 09:51 PM, said:

That person doesn't need to spend a ton of time or even be familiar with the GW2 market. Really all they need to do is click some buttons that other people will tell them to click.

It definitely needs to be someone that knows what they're doing and the EB market patterns to know peak days and times. since the person doing the analysis and figuring out what to sell/trade needs to be able to buy atm if it's a good buy. If there were a team of people and they used vent i could see that being beneficial too for a more orginized buying strategy and make it real time. Wish I could help....if only i had more time

[Nyeh]

Just saw this and I have to say im pretty interested in the concept. In writing all the details look nice and plausible but in action how would all this unfold?

And I think there should be a server gold wars 2 guild so that people can work together and earn people's trust. Also an organized group is better to work with anyway! Anddd real time trade would be awesome! Thats my 2c

If anything I want in!!!! =D

[PieSmash]

Nyeh, on 11 December 2012 - 03:08 AM, said:

Just saw this and I have to say im pretty interested in the concept. In writing all the details look nice and plausible but in action how would all this unfold?

And I think there should be a server gold wars 2 guild so that people can work together and earn people's trust. Also an organized group is better to work with anyway! Anddd real time trade would be awesome! Thats my 2c

If anything I want in!!!! =D

Not a bad idea, it would help build some trust if we hung out a little, plus we will have character names to work with and report if we do get scammed, id rather lose 10g than $40 dollars in RL money!

I was thinking that if we each offered up some collateral and sent that to another player to hold on to until the deed is done that would at least provide another reason not to nick off with all the gold, but on thinking on this more maybe that wouldnt work either....

[higgs]

Oh the paranoia. Where's da love

[Nyeh]

higgs, on 11 December 2012 - 08:32 PM, said:

Oh the paranoia. Where's da love

Haha it is human nature to take care of number 1 !!! Plus I dont think they have announced anything about items/gold restoration....

But working together and earning trust isn't such a bad idea. If anything we'll gain a few friends out of this =D