News Flash

The GOM is rising like a sailor on leave after 6 months at sea!

Three days shore leave. Then its back to the deep.

It will probably have a hard time pushing through 3.50, at least if that 1,146 blocks stays there. Then it has another major hurdle at 3.75, currently comprised of 1,013 blocks. Who knows though, maybe the demand will keep up. It would be nice for it to go soaring, but with all that L$ at 3.50 I feel like it's just a bounce.

I also don't have a good theory on why the bounce, but let's speculate wildly! Could it be that sellers are simply flocking to IGE right now? Or, better yet, could it be that all of these free accounts are starting to soak up L$ and whoever they're spending it with hasn't felt an urge to cash it out just yet? Could it simply be that people have decided maybe the sky isn't falling afterall and have become downright sick and tired of panic-selling L$ so cheap? I really don't know, but let's all tack a theory onto the thread!

Well, I agree there is a big step at 3.50, but the average volume per day is over 2M block traded. IGE is still buying only at 3.35 per 1000, so I would be suprised if anyone is selling there right now. Also if you noticed, the week leading up to this rise the market seem to have stablized. Maybe we hit the bottom and now it broke out of the slump and is on the rise again! Or maybe someone the has a lot of money flow is gone for a few weeks and all the L$ is just sitting and not being cashed out.

Perhaps people have not been posting "For Sale"
amounts in hopes to raise the price right before
the end of the month.. so later this week when
they try to sell enough to make tier the prices
will be higher.

Gabrielle

Don't forget that other people will post sell orders too.



IGE is buying at 3.35 with no selling fee and also no paypal fee when the USD hits your account. It takes quite a difference to make up for that for small sellers on GOM paying 12 cents a block. You need 3.47 on GOM just to break even on the per-block fees, and then when you get paypal from GOM I believe that's another 2.9% + $0.30, pushing what you need over IGE even higher.

We're not there yet, and if we DO get there, IGE will raise their buying price like always I'm sure. They seem to like to ensure that small sellers (most sellers) will always get more from them than GOM by the time everything is said and done.



I did notice this stabilization, but I'm still a skeptic as there can be many reasons for that as well. I'd love to be proven wrong, though.

True, assuming you're on a 12 cent tier, but you only need to sell 30k to make the 10 cent tier next month. Any land traders or large retailers making less than 30k a month need to look at their business model.


Why do you believe that? To see the charge schedule for receiving money into your PayPal account go check out the PayPal web site. To sumarise, 'personal' accounts have no charge up to a specified amount each month, 'premium' accounts Start at about 3.4%, reducing with volume.

Regardless of the charge, GOM does not take anything.

Then you undoubtedly have a basic account, which clearly states:

Your Monthly Receiving Limit is the maximum amount of money you can receive before you will need to upgrade your Personal account to a Business or Premier account.

Your Monthly Receiving Limit is: $500.00 USD (I guess ymmv on the actual amount)

To remove this limit you will need to upgrade to a Business or Premier Account.

Not really IGE's or Paypals fault you chose to ignore the terms of your account and change up 250k at a time instead of splitting it into two 125k lots, now is it?

Famous last words...

Actually, I recently upgraded to a premeir account when I applied for a Paypal debit card.
Or at least I thought I did anyway.

By the way, I'm not looking to find fault with anyone. Just trying to understand the situation.

Thanks!

I wonder what price the market will end at now that GOM is closing on Oct 2nd...