Why buy Splinterlands Cards High and Sell Low?
A day ago, a colleague brought to my attention a user who buys cards from Splinterlands for a high price, but then puts the exact same card with the same card ID on the market for less. I don't quite understand it... Is there some kind of market manipulation at work here? Is it to manipulate the price artificially? I have marked a few purchases and sales in the screenshot below. As you can see, the card is bought for a high price and then sold for a lower price.
U can find the Transactions here:
https://peakmonsters.com/@blumela/history
Purple marked Transactions on Chain:
Buy: https://hivehub.dev/tx/e4090dde1a9bdd190226b5ac672810a918d10ce9
Sell: https://hivehub.dev/tx/9496c41c7237b612c6ad4de90915cf5c3cd69e1c
Any Ideas?
4.02432044 BEE
market manipulation or regreting too fast XD lol
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he seems to be buying using credits and selling for dec...
These are people that want to leave even with losses :/
he is making a profit purchasing credits buying card then he has more $ in DEC even selling at market or lower
Spontan hätte ich auch vermutet, dass er Credits zu Geld machen will. Einen anderen Weg als Karten zu kaufen und dann zu verkaufen gibt's ja nicht, oder?
It is possible this user may have no other way fiat onramp to trade for DEC and so must send money through Paypal and convert to DEC.
The second theory I have is that this person is either selling at a loss for tax purposes to get below a bracket. E.G Needs to obtain losses of $250 to go under a tax bracket that would see them pay an additional 5k in tax, or some form of Wash-Trading.
The 3rd theory is that they are using undeclared or illegally obtained fiat to launder it into existence. Using the credits by bringing funds from one place and then selling the asset creates a record of purchase that can easily be proven legitimate once the asset is offloaded back into the desired bank.
Just some possibilities. I'm sure there are other theories that are very plausible.
Wait... the strategy isn't to buy high and sell low? Oops.
!PIZZA
$PIZZA slices delivered:
@kuhnchun(2/5) tipped @louis88
too bad for me my cards got stuck lol
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