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When wutang found out they sold their album to shkreli they donated the profits to a bunch of charities and one of them was "the truth about cancer" which is some alternative cure cancer website with advice such as microwaves are evil and cancers are caused primarily by toxins
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Jul 8, 2016 16:17
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did you really link to kotaku
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Jul 8, 2016 17:14
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darth_pizza posted:still a safer investment than BitCoin Hey, it didn't go under until it left the Magic trade.
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Jul 8, 2016 17:21
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Manchild King posted:I seriously don't see how this would work. Mainly because he can't buy them all simultaneously, because only a small fraction are ever on the market at once. He could probably only scoop up say 50 black lotus across the entire internet at this very moment. The instant sellers recognize a buyout has happened they will hugely inflate the prices on every lotus they have. Big dealers don't list their entire inventory, probably because of this very reason. Shkreli would have no choice but to again by them at this new price. Sellers then realize Shkrelis intentions and figure he will buy them at any price. Lotus's are now $100,000 dollars each and he still only has a small fraction of all those that exist. He could profit from this, but is having say 3% of a printrun really cornering the market? He probably got the idea because people have already been doing it with staples like lion's eye diamond to much success, it's certainly something possible to do. And he doesnt have to buy into the inflated prices he just has to buy all the ones that pop up under his sell point. Say he wants to sell them for 50k, he just buys everything under 50 and relists it, the worst other sellers can do against that is match his 50k price, if they list higher he'll just ignore them because he'll be the best deal on the market for other people interested in buying. This is exactly how other popular staples doubled in price this year, with black lotus I think it's the number of prospective buyers is much lower so who knows if it'll workout but it has for other cards. ArbitraryC fucked around with this message at 17:27 on Jul 8, 2016 |
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Jul 8, 2016 17:23
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ArbitraryC posted:He probably got the idea because people have already been doing it with staples like lion's eye diamond to much success, it's certainly something possible to do. at some point people are just going to say gently caress it then and use proxy cards though
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Jul 8, 2016 17:25
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Moridin920 posted:at some point people are just going to say gently caress it then and use proxy cards though People who have ridiculously expensive cards are either doing it for collection purposes or to play in tournaments with them both of which proxies can't fill in for. Regular people just playing with their friends already use proxies for expensive stuff.
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Jul 8, 2016 17:29
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i guess it would work better with a limited supply but EVE has taught me that trying to do this:ArbitraryC posted:Say he wants to sell them for 50k, he just buys everything under 50 and relists it, the worst other sellers can do against that is match his 50k price, if they list higher he'll just ignore them because he'll be the best deal on the market for other people interested in buying. This is exactly how other popular staples doubled in price this year, with black lotus I think it's the number of prospective buyers is much lower so who knows if it'll workout but it has for other cards. quickly results in you being broke as gently caress trying to buy all the cards that pop up under that price point as people realize you're buying and they start flooding the market i mean look google tells me there were 3300 prints of the 'beta' version of the black lotus card and 1100 of the 'alpha' card. even if he was trying to buy 1000 just 'beta' cards at $7k each that's $7 million. the alphas are worth 2x that. well cool except his net worth can't be much more than $50m and most of that is frozen pending his trial so... where is the money coming from? dropping hints that he wants to buy the brand? pff this dude doesn't have the capital and if he somehow pulls it out of his rear end the government is going to come down on him like a lead balloon. he's just a media attention whore and we're all playing his game.
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Jul 8, 2016 17:35
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i think he wants to suck lowtax's dick
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Jul 8, 2016 17:42
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Moridin920 posted:i guess it would work better with a limited supply but EVE has taught me that trying to do this: I think you really overestimate the volumes of these staples being sold are Like here's an article about a dude who was doing this: http://blog.mtgprice.com/2016/07/05/an-interview-with-the-man-behind-the-buyouts/ quote:I bought 41 copies of English moats at $375 each. It went up because I bought it out, but it would have gone up eventually because they aren’t printing any more and it’s really good with Eldrazi getting popular in Legacy. I also fully believe that if I hadn’t, then either someone else would have or it would have gotten there in a year anyway. All I did was accelerate the process. And this is something that has been going on for a long time by big stores, it’s just not been done so publicly. 41 cards was all it took to increase the price from 375 to 600.
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Jul 8, 2016 17:55
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ArbitraryC posted:I think you really overestimate the volumes of these staples being sold are maybe I guess, I don't know too much about MTG. I will say that you can find a lot more buyers at the 400-1000 price range than you'd find at the $10k-$20k price range though. If he has no one to sell them to then he's hosed again but I guess if the MTG community really has the money and the demand it'll work out.
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Jul 8, 2016 17:59
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Moridin920 posted:I will say that you can find a lot more buyers at the 400-1000 price range than you'd find at the $10k-$20k price range though. If he has no one to sell them to then he's hosed again but I guess if the MTG community really has the money and the demand it'll work out. He isn't doing this to make a profit. He won't be "hosed" regardless. He's just trying to get internet people to talk about him again.
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Jul 8, 2016 18:03
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Moridin920 posted:maybe I guess, I don't know too much about MTG. Yeah I already mentioned that caveat several times itt, just that the strategy in general did work and had already been done a lot.
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Jul 8, 2016 18:05
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Murphy Brownback posted:He isn't doing this to make a profit. He won't be "hosed" regardless. He's just trying to get internet people to talk about him again. well he'll be hosed in prison ayyy
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Jul 8, 2016 18:11
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its a pic of a flower mate  it fucken sucks
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Jul 8, 2016 18:20
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I've been thinking about selling my old dual lands. Maybe Martin will buy them from me!Frosted Flake posted:Could he wholesale buyout packs from the next printing or whatever? If he controls most of the new cards is that better than old cards people can't play? I'm pretty sure A) Wizards wouldn't sell him the entire print and B) if he tried to buy them up from retailers, Wizards would just print more. Someone can correct me if I'm wrong, but I don't think they are bound to printing only a specific amount of cards.
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Jul 8, 2016 18:21
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it's like just when i thought shkreli couldn't be any more of a dumb bitch suddenly he comes across the scanners again on some idiot poo poo
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Jul 8, 2016 18:24
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Moridin920 posted:it's like just when i thought shkreli couldn't be any more of a dumb bitch suddenly he comes across the scanners again on some idiot poo poo hey bud b4 u talk poo poo about a game of prowess and skill y don't u think about tapping that attitude u bitch
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Jul 8, 2016 18:30
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 social vegan posted:hey bud b4 u talk poo poo about a game of prowess and skill y don't u think about tapping that attitude u bitch 
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Jul 8, 2016 18:44
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if this makes Wizards reconsider the reserved list I'm all for it
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Jul 8, 2016 18:46
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Won't Skrillex need someone who actually has the money to invest in this dumb rear end scheme to pull it off on a large scale? Who on earth would be dumb enough to do that after all his other bullshit?
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Jul 8, 2016 18:58
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tenspott posted:That green paper can be traded for other things among the entire population of the world. High priced magic cards have value to a very small handful of people. That's why cornering the market on a niche hobby item is easy but also incredibly stupid. Then again last i checked Black Lotus prices they were $800 and now they are over $3k appearently, dual lands were $20 and can now go for over $200. Black Lotus has been consistently appreciating in value for over 20 years, it is a sound hedge in any investment portfolio.
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Jul 8, 2016 19:01
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that's borderline some bitcoin logic though I mean you're not necessarily wrong but it's way more complicated than that if you're really talking about an investment. For one thing there's no promise you could even liquidate (just like BTC) at that price when you need to, as we've already mentioned about Shkreli's plan. For another the value is entirely dependent on the whims of the MTG community. If all the tournaments said 'we're banning all these cards' tomorrow and/or Wizards of the Coast said 'we're doing a special reprint on these cards in the interest of the community due to market forces beyond our control' then your collection is suddenly worthless.
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Jul 8, 2016 19:04
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Moridin920 posted:that's borderline some bitcoin logic though I'm pretty sure they teach the 5 forces in like MGT 102 or something. Shkreli has to know about them but I don't think he gives a gently caress.
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Jul 8, 2016 19:27
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yeah I mean I don't think he's a retard or anything like that I just feel like this is more a media/attention thing than a real investment strategy. It's the same reason he livestreams himself trading all the time and constantly tries to ingratiate himself to the viewers. It's like he just really wants to be liked or something but can't figure out how, like that rich kid at school that would just buy pizza for everyone on Fridays so people would be nice to him.
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Jul 8, 2016 19:29
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"gently caress your irl games, I'm gonna go invent Steam"
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Jul 8, 2016 19:35
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Martin Shkreli saves MTG by buying the reserved list contract and pooping + jacking off on it before he sets fire to it on live stream.
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Jul 8, 2016 19:39
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Moridin920 posted:For another the value is entirely dependent on the whims of the MTG community. If all the tournaments said 'we're banning all these cards' tomorrow and/or Wizards of the Coast said 'we're doing a special reprint on these cards in the interest of the community due to market forces beyond our control' then your collection is suddenly worthless. To be fair, Black Lotus is banned from almost every format of play. And they have reprinted a version in later sets.
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Jul 8, 2016 19:45
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I guess I'm just wary because I'm a little familiar with collectible items in other markets and usually when something is 'worth' X to the community you can't really sell it for that much unless you want to wait around for months (or more) for the right buyer to come along. I feel like he's going to end up having a bunch of cards on his hands that will take years to sell off again.
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Jul 8, 2016 19:48
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Moridin920 posted:I guess I'm just wary because I'm a little familiar with collectible items in other markets and usually when something is 'worth' X to the community you can't really sell it for that much unless you want to wait around for months (or more) for the right buyer to come along. That is very true.
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Jul 8, 2016 19:49
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i too m worried martin shkreli might be wasting his money
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Jul 8, 2016 19:51
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actually the AIDs medicine he bougth was very niche and not "vital". Might want to update your OP to be more factual, OP
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Jul 8, 2016 19:53
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Moridin920 posted:well he'll be hosed in prison ayyy If he goes to prison it's because he offended enough people to make them convict him for personal reasons rather than legal ones. He is a dick, but the story that most people buy that he killed a bunch of aids/cancer patients by keeping the medicine from them is just not true. I would bet all of his stupid magic cards that half of his detractors couldn't even name the drug he increased the price of, or what the primary thing it treats is (hint: it's not aids/cancer). If it weren't for his spergy attention seeking attitude he'd just be like any other pharmaceutical guy who would never face prosecution even though they all do the same exact thing (or worse) that he did.
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Jul 8, 2016 19:59
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actually if he goes to prison it will be because of securities fraud, all that other poo poo he did that people are angry about was ethically hosed still but certainly not illegal at all.quote:“Shkreli essentially ran his company like a Ponzi scheme where he used each subsequent company to pay off defrauded investors from the prior company,” Brooklyn U.S. Attorney Robert Capers said at a press conference. It's only bc he hosed over other rich ppl lolo
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Jul 8, 2016 20:02
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Moridin920 posted:actually if he goes to prison it will be because of securities fraud, all that other poo poo he did that people are angry about was ethically hosed still but certainly not illegal at all. If you think there's any juror in america that has heard of him that could be impartial and separate the two things you are very naive. And what you call "ethically hosed" was good business and resulted in tons of money toward researching other rare diseases. The patients never suffered and anyone who couldn't afford the drug got it for free - a huge portion of daraprim distribution is giving it away. The only ones who suffered are the insurance companies.
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Jul 8, 2016 20:06
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Murphy Brownback posted:If you think there's any juror in america that has heard of him that could be impartial and separate the two things you are very naive. pff I bet I could walk out on my lunch break right now and ask the first 5 people I see if they know who Martin Shkreli is and they'd have no idea. I think you overestimate the amount of shits the average American gives. Murphy Brownback posted:And what you call "ethically hosed" was good business okay? they aren't mutually exclusive by any means Murphy Brownback posted:and resulted in tons of money toward researching other rare diseases. no it didn't Murphy Brownback posted:The patients never suffered and anyone who couldn't afford the drug got it for free - a huge portion of daraprim distribution is giving it away. only after there was massive public outrage
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Jul 8, 2016 20:09
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besides climb up off his dick dude was running a ponzi scheme and is most assuredly going down for securities fraud. those cases aren't brought to trial until the government has all its ducks in a row and the prosecutors are 100% sure.
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Jul 8, 2016 20:10
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I already acknowledged the guy's a dick who has brought almost all of this onto himself by waving his dick around in the government's faces. I don't like him, but I also don't believe he broke the law. e: also I can't think of many people who haven't heard of him. Even here in Germany people know of him and think he's an rear end. The initial buzz was huge and people remember (mostly incorrectly) the story and charges. yeah I eat ass fucked around with this message at 20:14 on Jul 8, 2016 |
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Jul 8, 2016 20:12
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Murphy Brownback posted:I already acknowledged the guy's a dick who has brought almost all of this onto himself by waving his dick around in the government's faces. I don't like him, but I also don't believe he broke the law. Well you keep mentioning his drug price hike and Daraprim but that's not what he was indicted for at all is what I'm saying. He literally committed securities fraud over the course of years and was under investigation long before the Daraprim thing happened because that's how those investigations are done. The indictment specifically mentions Retrophin, where he was the CEO before Turing. quote:“Over a five-year period, Shkreli is alleged to have perpetrated a series of frauds on investors in his hedge funds and Retrophin’s shareholders in order to cover up his poor trading decisions,” said Andrew J. Ceresney, Director of the SEC’s Division of Enforcement. He def broke the law and it has nothing to do with Turing/Daraprim. Moridin920 fucked around with this message at 20:18 on Jul 8, 2016 |
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Jul 8, 2016 20:14
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guys guys guys get this buttcoin 
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Jul 8, 2016 20:14
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AugmentedVision posted:guys guys guys get this haha gross
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Jul 8, 2016 20:19
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