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🏅 Top traders
| # | Name | Total profit |
|---|---|---|
| 1 | Ṁ6,694 | |
| 2 | Ṁ43 | |
| 3 | Ṁ26 | |
| 4 | Ṁ14 | |
| 5 | Ṁ8 |
Our friend is ~80k away from his objective. He has ~35k in cash and will get another ~40k loan tomorrow morning. To be clear, he can easily get this to a YES if folks buy just another 800 mana worth of NO.
Good luck to all, I'm sure whatever happens will be hilarious to at least some of us.
@Bayesian Forgot to include the /s on my post. W/ the old loan system every market was becoming a whalebaits market, so I'm cherishing this ^-^
@Bayesian I don't have aggregate data, but from what I've picked up using this app casually, a lot of the long-term markets were being distorted by whales. You can boost your net worth by strong-arming uncontested low-mid volume markets that won't resolve anytime soon, take loans on your phantom gains, and keep rolling. Since you can use your net-worth as a source of cash flow, this accelerates the gini coefficient of manifold, and makes markets increasingly a reflection on set of whale's leveraged positions than any new information about the actual topic in question being revealed.
@AnilJason your loans aren't increased off of your fantom gains. Your fantom gains literally only increase your paper profits, but since you bring the market to a price most ppl don't agree with, you can't ever escape your position, and eventually the market beats you and you lose a lot. is this wrong? You cant have greater leverage % when you have a greater networth afaik. I think whales having a bigger pie of the mana would help rather than hinder average market accuracy
@Bayesian Ah, so if your bets loose value, your loan amount does, but not the reverse? It is hard for me to tell when all my bets only lose value.
@AnilJason I think the market distortion issue is only a problem around when leagues are ending each month and people are trying to manipulate the system to increase their ranking.
In the long run, if a whale tried to push a market in a particular direction that didn't match the evidence, other whales would notice and be more than happy to take their mana by pushing it back.
Jonathan, they just banned long-time, respected users FUH and BTE for multi-account schenanigans. Getting a proxy to put up 99% orders isn't worth the risk.
Don't do this to yourself.
You have a Pivot to participate in.
@MichaelWheatley If my wife joined and bought some NO at 1% to help me out that’d be perfectly legal
@JonathanRay That's even more dangerous. She'll have the same IP address, maybe even the same device ID. It will be like FUH's misbehaving roommate all over again. I think the safest thing to do is cut your losses now before you get in too deep.
