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Entropia News: Share System - Crystal Palace Space Station Shares

Discussion in 'Entropia News' started by EP-Newsbot, May 1, 2019.

  1. Wistrel

    Wistrel Kick Ass Elf

    remembering reality it is

    10% - ped charge to withdraw - fluctating exchange rate back to home currency - bank charge to convert currency.

    7% if lucky - you can get that at nutmeg
     
    • Agree Agree x 1
  2. Tass

    Tass Administrator

    Also:
    • ROI on virtual share vs ROE on real world investments
    • tax-deductible
    And then just an example comparison for investments in games: I've made 91% ROI with an investment in Phonix Point, a game that's not even released.
     
  3. Tass

    Tass Administrator

    This is displayed after the PayPal process when I try to purchase CPD in the webshop. At this point I fully asssume that they are too incompetent to properly implement stock management for their shop. I'm also pretty shure that several aspect of the purchase have been simply illegal (these days most of what I do for a living is consulting for e-commerce sites exactly in these matters :) ).

    upload_2019-5-4_16-56-2.
     
  4. NotAdmin

    NotAdmin Administrator

    I once invested in 2 kilos of bacon, and all I gained was additional bodyfat.

    I'm amazed they sold out as fast as they did. I, too, bet there will be triumphant press releases flying out the doors on Monday. I'm not sure if Buzz would get the full 500k (I'm assuming MA will take a cut for developing the system), and sure, it'll all look good on Paper. Buzz has a great ROI, and of course all the usual press release crap will be in there again (NASA, ESA, 2014 numbers about GDP).

    The sale is no record, though, as CND sold for more. Let's hope that the newcomers attracted by the press release (if any) will stick around a bit. Has the newcomers'/arrivals area been overhauled yet, or is that yet to come?
     
  5. Wistrel

    Wistrel Kick Ass Elf

    "There are so many things yet to come" :D

    I just tried webshop too... indeed it doesn't seem to stop me or tell me there is no stock. I didn't try going through with clicking buy or anything though.

    It looks like 10k is the most you can enter in the webshop

    If I go for 10k I get this:

    Share purchase Error(72)
    ACCOUNT DEPOSIT LIMIT REACHED
    Your deposit request exceeds your 30 day account deposit limit. Please contact Entropia Universe Support to increase your deposit limit.

    If I take it down to 10 shares (100 dollah) it takes me off to pay pal...

    ... to sell me what, just I don't know
     
    Last edited: May 4, 2019
  6. Tass

    Tass Administrator

    And that's one of the legal issues. In Germany that would be 100% illegal and I'm relatively sure it's derived from EU regulations, so it should be the same or similar. Online shops have to display the item you buy, price per unit, the number of units and the total of what you buy before you confirm and pay. Non-compliance almost automatically leads to relatively high fines, high enough to take small shops out of business.

    By the way, the payment was deducted from my PayPal account and PayPal has sent confirmation emails, MindArk of course didn't, neither did I get any items or any further info about my purchase.
     
    • Hussked Hussked x 1
  7. San

    San

    There seems to be quite a bit more leeway here in Sweden. Was just helping an elderly couple navigate an online shop which does a lot of advertisement here and we discovered strange discrepancies between their extremely marked-down offer prices and the price listed upon checkout. Not the first time I'm seeing things which would bring a big hammer down on them if it were in Germany. We may be suffering from overregulation sometimes, but the level of protection is unmatched. People just got so used to cross borders online now that awareness of different or absent rules abroad has gone down. Buyer beware still applies as much as it did a generation ago.
     
  8. It use same limit for depositing in EU for security reason.
    Newcomers have to deposit 10 usd max and go through verification of bank and credit card by MA.
    On start is set to max 300 usd /month but you can raise it on 30k or more by contacting support.
    Problem are stil with boxes with random chance to win or not valuable ring or other items and depend of country or region legislature.
     
    Last edited: May 5, 2019
  9. Do I really have to go into details after the Deeptoken fiasco ? After the Compet Scam ? Come on ! :'D


    This is exactly the problem with Entropia since 2009...the PR-gags and lies are strong with this one again...the Rookies, that never heard about Entropia before, will always take it for granted...which is bad...very bad.
     
  10. Tass

    Tass Administrator

    Possibly, but what I had in mind was EU law, I've checked and found that the directive is about goods defined as tangible, movable objects, so it doesn't apply to digital items or financial products but there are directives for these as well and somehow I can't imagine that they are less strict.

    I don't really want to police MA and I don't have the time. But this sale for sure has many issues and once more displays MAs incompetencies. I'd recommend anyone who wants to cancel a purchase to check out the laws. The first problem would be whether CP shares are digital content or financial services. EU digital content directive, for example, is here: https://data.consilium.europa.eu/doc/document/PE-26-2019-INIT/en/pdf (national legislation has still almost 2 years left to adopt it, so status probably differs per country)

    P.S. what I find interesting is the definition of gambling services in the digital content directive:
     
    Last edited: May 5, 2019
  11. Wistrel

    Wistrel Kick Ass Elf

    wow that is really really bad...
     
  12. Wistrel

    Wistrel Kick Ass Elf

    Do I really have to go into details after the Deeptoken fiasco ? After the Compet Scam ? Come on ! :'D

    Up to you, don't mind really. Derptoken's was just a load of bollocks from the start, only dodgy thing I saw was the person who bought 12mil of them but didn't but did but didn't. Don't know about "internal reselling" of them. Compet again, dunno about who was reselling them. AFAIK they were both simply bad ideas.

    How would we know if MA were buying their own stuff?
     
  13. San

    San

    Let's try an exhaustive logical treatment of this, without emotions or prejudice.

    Crystal Palace exists and is well established. So was Calypso when CLDs were issued. Arkadia Underground and Moon deeds were sold to fund new developments, and the team behind them delivered. So were Compet deeds but it was not delivered. Neither was Deeptoken. Stables got screwed soon after their sale. Hangars and Motherships got screwed on promises which were never implemented but some found ways of turning them into personal success anyway. Land plots are in an unclear situation, since many years before their implementation a voting system was announced to be connected with them but was not confirmed afterwards. Other possible uses for them than the current options are entirely speculative.

    I see only two parameters here forming patterns throughout the above examples of Entropia history which may support an investment decision:
    1. A product which is already delivered and well established
    2. A team which has proven to deliver on its promises
    These parameters or conditions are independent from each other and happen to occur if at all then mutually contrasting. Therefore it is either one or the other which will have to suffice in your individual decision making. Complaints from existing investors in these seem to be few. Where none of these conditions applies (e.g. Stables when they were new and not foreseeable what was to follow and kick them out of business), the risk is either high or incalculable. A precedent where both positives check out does not yet exist.

    All of this then has to measure up against available real-world investments whose proceeds could simply be deposited into the game, if the goal was generating play money out of passive income. The same applies the other way around, i.e. if the goal was to withdraw a passive income from in-game investments. If the difference between this and doing both on the same side (generating and consuming, in-game or real-world) is unfavourable in your personal scenario, it is called opportunity cost. If the outlook of having to justify that is scary, either work on that or better forget everything.

    What I will consider doing myself and what I may complain about in public are determined by the selfsame logic. If at least one condition checks out, there is a constructive approach.
     
    • Like Like x 1
  14. Tass

    Tass Administrator

    I don't think there has been any scenario in which high risk investments into Entropia Universe estates promoted as investment opportunities have significantly beaten high secure real world investments. And no changes are to be expected in the foreseeable future. So Entropia Universe cannot be an option for any serious investor, without emotions and prejudice ;)

    Update on my attempt to buy CP shares from the webshop: without further notice the amount I paid via PayPal in the checkout process on the webshop has simply been added to my PED Card... really... that must be illegal in any country that's not a total banana republic...
     
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  15. Wistrel

    Wistrel Kick Ass Elf

    Time to tell Paypal the items you paid for were not delivered/didn't meet sellers description and request a full refund.

    Even for MA, that is "hella whack!"
     
  16. San

    San

    Precisely what I was getting at. Except I'm more upbeat about the future since recently, there is a different air really. This will not convince those who were in too deep and got burned earlier, but there is nothing anyone can do about the past. A "serious" investment this cannot be, expecting it is just foolish from the start. This has got nothing to do with the particular company. It's a game, period. A simulation where one can learn a few things about real economy though, which is what makes it interesting. No less and no more.

    I guess the webshop didn't properly handle the situation when they were sold out and wrongly accepted the payment at all. Sending it back manually would incur a fee on your side though, maybe they figured you would like that even less since you would have gotten nothing at all for the cost. If you let them know that you would have chosen otherwise there is probably a way to reverse the transaction. File a support ticket.
     
  17. NotAdmin

    NotAdmin Administrator

    This was posted on PCF:

     
  18. NotAdmin

    NotAdmin Administrator

    Oh, and when MA implemented the share system, apparently they forgot to add the payout option, because nobdy got any revenue yet. The first payment is supposed to happen May 13th.
     
  19. Tass

    Tass Administrator

    So either not all shares have been sold or the average # of shares is wrong. But it's just financial stuff, why calculate correctly...
     
  20. Fan_boy99

    Fan_boy99 Idiot

    I will go off what the fan boys said on other forum... will take 140 k ped PER week TO MAKE 1 pec share dividend. As Messi said (A legend a good player worldwide) = ''good luck bois''

    He said it all. Also just as coincidendence, Wasn't 1 pec a month the expected payment on Conpets :)

    I HOPE (truthfully) you not invested your ''kids to send through College'' money on these deeds. Oh well. This foirum can survive long after MA are gone. 1 pec a month. for 10 ped. now I am not that good at maths......
     

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