EPTEVE Corporation - Page 1015
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Antoine
United States7481 Posts
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KwarK
United States44425 Posts
On March 15 2012 02:19 motbob wrote: He's certainly not underestimating the amount of people who were doing anything about it. Most of the people who'd recognised how it worked failed to understand the potential of it. Most of those who attempted it were easily shut down by people such as myself and WG who understood how to exploit windows, stock and liquidity to bully new entries to the market. It's difficult to stress how important controlling the supply of mods through mailing lists, regular customers and constant advertising was to the running of the operation. Noticing that overpriced mods on oldest sell is not the same thing as understanding the business. | ||
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Zachris
Sweden26 Posts
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Condor
Netherlands188 Posts
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Redmark
Canada2129 Posts
Because I don't and I found it quite difficult to understand  | ||
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Mysticus
298 Posts
Well done, sir. | ||
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Mandini
United States1717 Posts
On March 15 2012 02:24 KwarK wrote: Most of the people who'd recognised how it worked failed to understand the potential of it. Most of those who attempted it were easily shut down by people such as myself and WG who understood how to exploit windows, stock and liquidity to bully new entries to the market. It's difficult to stress how important controlling the supply of mods through mailing lists, regular customers and constant advertising was to the running of the operation. Noticing that overpriced mods on oldest sell is not the same thing as understanding the business. But of course you had the handful of people who understood how it worked and how to exploit the way the market was necessarily set up to make decent profits themselves. And also you had those who thought they knew how it worked and had high hopes for massive profits and just kind of failed. | ||
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Divine-Sneaker
Denmark1225 Posts
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MyNameIsFourteen
United States12 Posts
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DiracMonopole
United States1555 Posts
On March 15 2012 03:10 Divine-Sneaker wrote: That's fucking amazing. I'm pretty sad it was so abruptly shut down, since this kind of abuse of market forces is extremely intriguing due to the fact that it hardly exists in real life. Great read. The person who is happiest it was shut down is Kwark imo. He was near burnout due to the difficulty of running such a large operation. | ||
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Valashu
Netherlands561 Posts
I also had no idea you were paying wg such a large amount of isk. | ||
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Divine-Sneaker
Denmark1225 Posts
On March 15 2012 04:24 DiracMonopole wrote: The person who is happiest it was shut down is Kwark imo. He was near burnout due to the difficulty of running such a large operation. I can imagine so, the read also basically explained how the original guy kwark got the concept from burned out himself. It's more the principle that I think it's exciting to have a scenario like that, which completely allows for people who are smart enough and willing to put in enough effort to gain unbelievable amounts of success. | ||
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Dbars
United States273 Posts
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SnowK
United States245 Posts
On March 15 2012 01:23 KwarK wrote: Kwark's manifesto Two things: 1) I'm giving up trading - there's just no keeping up with this kind of stuff. I need my comfortable illusion. 2) Shoulda stayed in Hatchery. o_o | ||
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Danglars
United States12133 Posts
1) Market forces let Kwark make his LP conversion trade profitable for both those selling him the raw materials (They can mission more and not engage in inefficient transport, earning more money) and himself (he takes a margin out for himself for the trouble). 2) The principle of sellers not caring who's buying, so long as they sell for a profit, and buyers not caring who sells to them so long as they can afford it and gain use from the purchase (magpies, they gain shiny). Kinda the invisible hand at work, so to speak. 3) Monopolistic operations can consolidate with rivals, discuss prices. So long as their competitors are far far away (and definately distorted because competitors must have an understanding of the economics of the glitch), the negotiated prices become the de facto price. In real life, perhaps the big argument against an entirely laissez-faire government is the fear that monopolies will utilize economies of scale to negate competition while simultaneously driving up profits. I like the kinda market analogies the MMORPG video game economies generate. + Show Spoiler + Did same thing in WoW. Lost interest in game, just in AH for a while (circa 2007 I think). Made a small scale, realized others were doing it on a large scale. Got loans for liquidity, learned enough Chinese to communicate with the china farmers (Heck, they, just like WG's suppliers, needed gold for their product, and would cut out their trip to AH if possible ni hao), and went to work. Expanded operation into several markets very quickly, and started maxing gold on multiple characters, and then funding local friends, etc. When my more obvious friend (watching a different time "window," if you will), was too obvious and got banned, I posted more modest markups and eventually closed down. Then got some real life money (Guild Pool) paid to me to reactivate acct (The subscription + extra $$ for my time, decent salary) and max all their character's coffers. As for those that nipped at the edges trying to make their dough ... just too inefficient and small of an operation to mount any real resistance. Humorous just the volume of messages inquiring about my profits, inventory, liquidity, and members of the cartel. As for liquidity, well it didn't take much more than a month to supercede the net capital limit on the 8 chars of an acct on a server. Kinda blurred the moral line of gold sellers for me when I got paid to pick up the racket again. | ||
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Divine-Sneaker
Denmark1225 Posts
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Impervious
Canada4222 Posts
I'm just a small fry. But, damn was it eye opening when I realized how big of a scale you were operating on. I'm actually surprised that it's just 2 trillion isk, I figured you could have walked away with more..... | ||
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r.Evo
Germany14081 Posts
I might sub soonish again and I'd be glad to see how your gangs are run nowadays. =) | ||
tofucake
Hyrule19267 Posts
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Pufftrees
2449 Posts
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