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MindArk and insider trading

~CHOPPER~

~CHOPPER~

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CHOPPER
If MindArk was a US company, they would now be bracing for an official government investigation. With their real cash economy they would be subject to federal rules and regulations.

Recent activities show signs of laws being broken. This is not frivolous stuff folks, people go to prison in the US for insider trading.
 
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~CHOPPER~ said:
If MindArk was a US company, they would be now be bracing for an official government investigation. With their real cash economy they would be subject to federal rules and regulations.

Recent activities show signs of laws being broken. This is not frivolous stuff folks, people go to prison in the US for insider trading.
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Not just the US mate - most places...
 
~CHOPPER~ said:
If MindArk was a US company, they would be now be bracing for an official government investigation. With their real cash economy they would be subject to federal rules and regulations.

Recent activities show signs of laws being broken. This is not frivolous stuff folks, people go to prison in the US for insider trading.
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I am pretty sure they do in sweden too :p

Just if no one reports it to authorities it didnt happen...
 
wall_street.jpg



Well, I'd presume everyone has seen the film Wall Street by now and how the film ends, so lets hope dodgy stuff isn't going on.
 
Mega said:
Well, I'd presume everyone has seen the film Wall Street by now and how the film ends, so lets hope dodgy stuff isn't going on.
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No I didn't... but isn't it NDS who made the insider trading with scanners and other loots before? What does MA have to do with that?
 
I understand your feelings but I don't think it's worth the efford. Not even sure if you can speak of insider trading if the public domain only consists of players that agreed with the EULA.
 
~CHOPPER~ said:
IMO it needs to be reported.
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A legal link between the $ and Ped would have to be established before real world insider trading laws can be applied. MA saying they give 10Ped to 1$ for deposit/withdrawal isn't enough. MA can fall back on all you’re getting is 'loyalty points'. When I give my local supermarket money I get 1 superstore point per £1 given. I can use these points to buy things with just like Ped. Abuse of insider knowledge would be conspiracy to defraud someone of the $ they had deposited with MA to spend. You would need to prove MA hold deposits in $ with an account assigned to you.

Their gray spot is in explaining/proving you have actually spent (been charged for services) the money you deposited with them. In theory without invoices\receipts from MA of services provided you can claim back all the $ you have depositted, though it would be one hell of a court battle. They are not registered in Sweden as a financial services provider (I far as I can find) and how MA and PPs avoid paying VAT for services provided (ultimate proof that you have SPENT money) to an end user is not explained. It is this lack of visible VAT payments that an authority would be interested in, espesially with NDS based in the US. But reporting this is certainly not in the end-users best interests.

VAT is one of the reasons you will never likely see a UK based planet partner with revenue over £60K in Entropia and probably a major incentive for SEE get out of US registration to buy FPC and be based in Sweden. No doubt though that I'm completely wrong on this.:dunce:
 
~CHOPPER~ said:
If MindArk was a US company, they would now be bracing for an official government investigation. With their real cash economy they would be subject to federal rules and regulations.

Recent activities show signs of laws being broken. This is not frivolous stuff folks, people go to prison in the US for insider trading.
Click to expand...

maybe you tell us what activities too..i'm very curios:)
 
Question is, who's got the balls to step up and lead this Heroic and Historic event?
 
Qwackers said:
A legal link between the $ and Ped would have to be established before real world insider trading laws can be applied.
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MA boasts their real cash economy. I think the link is already there.
 
I hope one day MA will realise how dangerous even rumors are about things like these in a RCE environment.

Once people (players, reviewers, potential players, ...) have the feeling that not everything is fair play it will be extremely hard to turn this feeling around again!!!
 
sky west said:
I understand your feelings but I don't think it's worth the efford. Not even sure if you can speak of insider trading if the public domain only consists of players that agreed with the EULA.
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EULA? You live in the Netherlands. The way the EULA is implemented in this "game" it's not acknowledged as something binding at all in your country. Don't know about all countries though.

EULA may change as well once in a while and I for one never click on any OK whatsoever logging on (as implemented by the programmers opt-out so to say, not a hack or anything).
 
Luckycharm said:
EULA? You live in the Netherlands. The way the EULA is implemented in this "game" it's not acknowledged as something binding at all in your country. Don't know about all countries though.

EULA may change as well once in a while and I for one never click on any OK whatsoever logging on (as implemented by the programmers opt-out so to say, not a hack or anything).
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Wheter it's binding or not is step two, but all activity in EU starts with acknowledging and agreeing with EULA.

Don't understand what your last remark is about, you HAVE to agree if you want to play. There's no way around this...opt-out? :scratch2:
 
what are you talking about??
 
sky west said:
Wheter it's binding or not is step two, but all activity in EU starts with acknowledging and agreeing with EULA.

Don't understand what your last remark is about, you HAVE to agree if you want to play. There's no way around this...opt-out? :scratch2:
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There certainly is.
 
This is a bad day for MA/FPC/SEE/NDinc or whatever the feck he calls it and all company's involved now in EU as 1 bad rumour spreads and change's faster than any good rumour.

Bad PR will hurt them over 1 thing like this more than 10 good things done, this is a sad day in my EU life and i'm now along with a few others considering the fair dealings being dished out and it makes me think more about the so called "golden stick" theory i've discussed with freinds in past.

They balanced the loot so fast that it only lasted a few hours, i never even got a chance to fly to that planet to try and get 1 myself.

IMO new items MUST be (L) from now on in game as it will effect the economy of every planet mostly Calypso if new UL items get dropped!

P.s. Why did we need more scanners ingame? Can't they buy them from TT or get a crafted one? What exactly did it balance out?
 
Unfortunately Insider Trading has an actual legal definition so you can't just throw it out there. What Digital Abduction and ND did was probably unfair, but it wasn't "Insider Trading".
 
sky west said:
Wheter it's binding or not is step two, but all activity in EU starts with acknowledging and agreeing with EULA.

Don't understand what your last remark is about, you HAVE to agree if you want to play. There's no way around this...opt-out? :scratch2:
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MA cannot elua themselves out of laws.
 
Karmic said:
Unfortunately Insider Trading has an actual legal definition so you can't just throw it out there. What Digital Abduction and ND did was probably unfair, but it wasn't "Insider Trading".
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Then as a blanket term, is this the subject under discussion?

http://en.wikipedia.org/wiki/Fraud

There appear to be other legal names such as Abuse of information and Breach of confidence, but I'm no lawyer. It seems to boil down to who knew what and when.
 
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~CHOPPER~ said:
MA boasts their real cash economy. I think the link is already there.
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But that is the catch. IF you were trading with Ped backed by real $ within the virtual univers there would be some sort of goverment tax (MOMS, VAT, stamp duty, what ever). Because there is no such charge made to the end user Ped is just Manopoly Money that MA desides to back with $ at its discression. It could quite legally choose to tell Jo Blogs that 10 Mod Faps were going to drop from mob A at location X,Y before a VU and there is no legal comeback.

It's their univers, if you don't like whats going on, leave.
 
Karmic said:
Unfortunately Insider Trading has an actual legal definition so you can't just throw it out there. What Digital Abduction and ND did was probably unfair, but it wasn't "Insider Trading".
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No offense but, I think the opinions of legal folks are the ones that matter.
 
~CHOPPER~ said:
No offense but, I think the opinions of legal folks are the ones that matter.
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Karmic's point is that "Insider Trading" is a specific action relating to trading in stock/shares of a company (not necessarily illegal either, depends on circumstances). See also Mega above. Whatever has happend it is not actually Insider Trading.
 
What on earth are you talking about? You can't buy or sell Mindark shares on a stock exchange anywhere, how could someone be "insider trading" anything here? :scratch2:
 
it isnt the company that would get in trouble... it is the individuals that use the information that are the insiders... people in the know can not make investments based on inside information that is not public information...

so MA would not be in trouble... but the people who used the inside info to make a profit would be... IF it was a public company which it isnt...

so this is just a silly thread

for example...

Microsoft... is a big company... employee JOHN is working on the buyout of XYZ company... this is confidential info... or inside information... if john told this information to others... or made an investment on this information he would be introuble or the ones close to him that he told...

but MSFT would not be in trouble... since this is part of the business...

so MA would not be introuble... but those who made moves based on inside info would
 
Joker said:
so this is just a silly thread
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I dont think anyone who has read or posted in this thread has considered it as one, and I think it deserves a sensible answer.
 
Mega said:
I dont think anyone who has read or posted in this thread has considered it as one, and I think it deserves a sensible answer.
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answered it...
and it is silly if anyone has real investing experience (equity markets)
 
Joker said:
answered it...
and it is silly if anyone has real investing experience (equity markets)
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According to Entropia Planets, Rocktropia 2.0 will be launched in 44 days. If it follows a similar pattern to what happened with Rocktropia 1.9 (which hardly anyone, including me, knew anything about) it'll be a feast for some and heartbreak for others.

I'm in a bit of a quandry over this, I see Mindark's position (if that is what they are basing it on) over stored items not being used and releasing them so that more are in circulation. Perhaps they thought that would make players happy? I also questioned myself on would I rather more Fap50's appear on RT or new faps with identical stats (but a different name) be discovered. I realised I didnt know which I'd prefer to happen. I suppose it depends on whether you own a Fap50.

I think it comes down to the drought of unlimited items (with the exception of 2009's SGA event) that causes this problem combined with the extremely short time window to acquire very rare items (one of which was only previously available from crafting) Oh and of course, those that actually owned these formally rare items.

I dunno, I'm just your average player, making assumptions and not knowing all the facts. :)
 
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