For example right now the top "offer to sell" is 6,700 and there are 100 offers at that price - while the top "offer to buy" is 6,680 well within the 2% window. So why doesn't the "offers to sell" auto buy all the top "offers to buy" right down to 6,566? The prices should really never be more or less than 2% away from each other but they very often are.
So why doesn't the market auto sell to itself?
Tue, 08/30/2011 - 14:00
Tue, 08/30/2011 - 14:45
#2
But I think the results are
But I think the results are the same.
If someone has an offer to sell at 6700 and they autosold to someone looking to to buy at 6566 - the seller would get 6566, OOO would get the 2% fee, and the buyer would get 100CE. - That's the whole transaction isn't it?
Tue, 08/30/2011 - 14:58
#3
"If someone has an offer to
"If someone has an offer to sell at 6700 and they autosold to someone looking to to buy at 6566 - the seller would get 6566, OOO would get the 2% fee, and the buyer would get 100CE. - That's the whole transaction isn't it?"
No. In that explanation, the 2% simply magicks itself into existence.
It's supposed to be:
Buyer ---> 6700 crowns -------.
Seller <== 6566 crowns=== 6700 crowns --134 crowns--> Tax
Your proposal:
Buyer ---> 6566 crowns -------.
Seller <== 6566 crowns=== 6566 crowns --0 crowns--> Tax
Please stand by, we are deploying the Spiral IRS to apprehend you for tax evasion.
Tue, 08/30/2011 - 15:10
#4
Gigafreak's explanation is
Gigafreak's explanation is correct, but i'll add that the game *will* sell to itself if the buy prices are high enough or the sell prices are low enough. For example, i someone posts an offer to buy 100CE for 7k right now, the offer will be filled immediately off the CE sell offers. I'm not certain what happens with the excess offer of around 500cr, I think both the buyer and seller get refunded ~250cr.
Top offer to sell is equivalent to the seller saying "I have 100 Crystal Energy, and you must pay 6700 crowns for it. After the 2% tax, I will receive 6566 crowns."
Top offer to buy is equivalent to the buyer saying "I want 100 Crystal Energy, and I am willing to pay 6680 crowns for it. After the 2% tax, you will receive 6546 crowns."
If the (lower) buy offer auto-bought the (higher) sell offer, one of two things would happen:
1) The buyer is spending more crowns than he agreed to offer, meaning the buyer is ripped off.
or
2) The seller is receiveing fewer crowns than he asked for, meaning the seller is ripped off.
If I posted an offer to buy 100 Crystal Energy for more than 6,700 crowns, it DOES auto-buy the energy for 6,700 (and the seller gets 6566 crowns afterward). Likewise, if I posted an offer to sell 100 Crystal Energy for less than 6680 Crowns, it DOES auto-sell for the 6680 (and I'd get 6546 crowns in the end).