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So now that a few folks are messing around with the site, I should probably document some of the changes for you all, since I haven’t updated the copy of the site (yet). The biggest change you will find is that the ‘sell’ button is gone and you no longer enter number so shares that you want to buy. Instead you enter the amount of money that you want to place into a ‘buy order’. The system then attempts to buy as many shares from the least expensive sellers that it can find. As a shareholder, you have to set a ‘selling price’ for your shares.  This can be any amount that you want and you can change it whenever you want. There are a finite number of shares, and currently the system is defaulting to 10,000 for each thot.A new thing, is ‘advanced trading’. With this, you can place order to buy or change your selling price contingent on circumstances like a change in the trading price of a thot. At the moment that is the only trigger that is active, but shortly you will also be able to trigger advanced orders with changes in market cap. You set a duration for these orders and if the trigger does not occur, the order will expire. This way you can continue trading and making (or losing) money even when you’re not online. Stuff that’s gone: TAXES. there are no taxes in the system. CAPS. there aren’t caps (at least not like there used to be). You can pretty much set your prices to whatever you want within reason. But there is no penalty for ammassing huge sums of thollars in your bank account. FROZEN THOTS. thot don;t freeze anymore. From time to time trading might be paused on a thot pending an investigation of strangeness, but that should be (fingers crossed) rare. THOT MANAGERS. no more thot managers or hostile takeovers.  There’s more, but I’m really tired. I’ll be discussing a lot more about the motivations for all the changes in future posts. Also there are technical changes that might be interesting to some.PLEASE let me know what you think. It’s all a bit different than before, and I’m anxious to know if you find it to be: harder/easier, more/less fun, etc. Also, when corresponding, please let me know if you participated in the first public beta last fall or if you are new. Oh, one more thing…This new market does away with the whole ‘simulator’ algorithm thing. Fluctuations, prices and all that are now directly driven by the shareholders. That means that the overall experience (i.e. enjoyment) of the site now heavily depends on numbers of people driving those changes. The site will fail if it doesn’t cross some tipping point of traffic. So, if you enjoy it and see an opportunity to bring new poeple in, please do so, for your own sake (and mine too). Thanks everyone. I hope this works.  -Steve

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12 Comments

  1. I’m dissapointed to be honest, it was just alot cooler to make a share rise with like 50 gazillion dollar at once. I liked beta 1 more, except for the caps.

  2. I’m new.
    Apparently, some people don’t understand that throwing “50 gazillion” thollars around must have been a problem.

    The concept seems pretty nice. I’m still not sure about the implementation, yet, but the buy/sell marketplace seems to be the right idea. Unfortunately, it WILL be a problem if the following message pops up all of the time:
    “No shares could be found for this price, at this time.”

    As mentioned in that “getting close” post, I hope ThotMarket can attract the necessary crowd to make a true marketplace function.

  3. Bug??

    THOT::IRS
    $500.00
    +499.99 (for today)

  4. “No shares could be found for this price, at this time.”
    is probably not a bug. Keep in mind that you cannot buy shares from yourself. So if you are currently the lowest priced seller, you may get this message if you attempt to buy shares at a price that doesn’t meet the next highest seller’s price even though the posted trading price is lower.

  5. I came home today only to find all my shares were sold. I now know why. This seems like an interesting way to run the website. I’ll try to advertise this as much as possible to do my share in keeping traffic high.

    P.s. I was NOT in the last beta. Next time, please sign me up. It killed me having to wait over the winter.

  6. Just a little friendly advice from a fellow game developer. I, too, have had issues in building a stable economy….

    But anyways … I’m not sure if this is intended, but the market is geared to be very elitist. The users that get in when the site first launches will have far more influence than a user who joins 4 months later will ever manage to build.

    One blogger once posted his analysis of the previous Beta 1 ThotMarket. I would project that some of those issues will still crop up. None of this is to say that the current implementation is not going to satisfy a lot of users, but I suspect you’ll get complaints later as newcomers realize that their “votes” are less weighted than the older players.

    It probably is not worth it to try to rebuild the economy to change any of that … but one simple (but hated) fix would be to just assess a graduated tax on capital gains.
    1% tax on stock sales totalling from $0 to $50
    2% tax for sales totalling $50 to $100
    … etc.

    Wouldn’t matter to me since I’m one of the people that got in on “the ground floor” but it might be something to consider. My 2cents :o)

  7. ….”None of this is to say that the current implementation is not going to satisfy a lot of users, but I suspect ….”

    Wow.. that’s like a quadruple negative. What I meant to say above is that the current implementation should make a lot of people happy, but there’s a chance of complaints.

  8. I hate to keep posting stuff here, but I don’t see any place to make reports.

    But anyhoo … there should definitely be a way to set the maximum price you are willing to pay *per stock*. Someone just bought my ridiculously priced share of Wikipedia, and I am pretty sure that they wanted far more shares than they got.

    The interface where you can only type the amount you are willing to spend is kinda dangerous for a person’s bank account.

    THOT::WIKIP
    $1.50
    -9.97
    02-29-2008 (Fri) Sold 1 Shares (WIKIP at $120) +$120.00
    02-29-2008 (Fri) Purchased 1 Shares (WIKIP) -$0.50

  9. Don;t feel bad about posting stuff here. That’s what it’s for. You can also contact me thru twitter: http://twitter.com/rworkman , or the feedback form on the site: http://www.thotmarket.com/contact.php

  10. the previous system was better,esyier and much more fun.
    you ruined it man…

  11. Bring back the god-damned sell button so i can sell my shares when i want! Then i won’t have to sit on a portfolio worth money that i can’t fucking spend.

  12. If your shares aren’t selling, lower your selling price. Your portfolio isn’t worth money at all, thee thing is, your portfolio isn’t worth money at all, unless someone wants to buy from it, Sucks, but thats life for you. We will, however be adding features that make it little easier to ‘market’ your thots.


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