Quote:
Originally Posted by -DJM-
If that is the case and people can't sell their funds, how does it impact Lock? Does the music stop?
If Lock funds became untradeable via P2P transfer, the only way to get funds on the skin is via deposit. Again, it all goes to awareness. If the supposed "casual player" is really keeping Lock afloat, they better steer clear of any reputable internet sites regarding online poker. Because as I have been told by the man himself...
Quote:
Originally Posted by Shane, Lock Rep, via Skype
"I love the vig report. It's such a huge measure now for how cashouts are performing for players. Obviously our cashout delays really started that (vig value) tanking and while that wasn't helped by the issues with the people involved in that transfers scandal, the cashout times really started that free fall and and the vig report gives as a real time view of the pulse of how players feel about cashouts."
Quote:
Originally Posted by blobbloblob
I think the .33/$1 is fair however it should be closer to 35c/$1. The only reason I say this is because its a large quantity.
Perhaps posting that in the HSNL thread is fair. But in the P2P thread, where reported value trades are in a daily report and the vig of those trades are publicized and well known now, it only serves one identifiable purpose: the further devaluing of Lock's skin value.
Quote:
Originally Posted by DaycareInferno
Obv no one would care if he was just an ordinary player, but that's not the case. Assuming that he's actually the one that made the post, he's actively promoting the site and encouraging people to deposit and play in a place where obviously he doesn't think player funds are worth a whole lot.
This is one of the big things here. The ol' "deposit and play!" routine while selling off funds at a third of their value. This is why I can't have too much sympathy for these pros. How they have been able to continue to perpetuate and mislead people without having either a clue or wanting one about what's going on daily with this company is beyond me. At some point, common sense says go find a new game. But with some Lock pros, that doesn't seem to be the case.
Quote:
Originally Posted by 300zxrider
I haven't really been keeping up with online poker news lately, but I just found out that the rest of the Revolution network has dropped Fair Play Technology, except for Lock who is fencing off players above 50NL. With only that information, I'll agree with you that we'll see trades below 0.30 vig really soon.
I don't doubt this. Public opinion is just going to ruin this company. And it's not like you can blame the public (though Lock has tried that before) when they continually offer up new, more diculous foibles from week to week.
Quote:
Originally Posted by Mccormick
That's a really bad analogy if you consider the fact it'll take so much TIME to get it all off, furthermore, if things remain as it is, even if he DOES have confidence the funds are safe, but doesn't see the cashout times improving soon, he could see reason enough to sell it off. After all, if you don't sell off, you're putting yourself in this infinite loop of having too much funds on Lock which u can't get off, which has nothing to do with thinking it's safe or not, you simply can't get it off in time and as you keep playing you keep earning more $ which in turn you again can't get off so there's no point sticking with it even if u do think it's safe.
Hope people understand this logic -_- but yeah, it's obviously a bad message and there's going to be very little people who do think it through.
McC - these guys represent the company as Lock pros. They actively seem to be among the cavalry to get players to deposit on the skin. You don't go to a P2P thread where you know VIG is being recorded and mapped daily and ceremoniously undercut the current value by 16% - especially when you have a rep publicly stating that the vig report is a reflection of consumer confidence in your cashout system. At best this is simply gross negligence under a company that has no control over anyone associated or employed with them. At worst it's a coordinated effort to drive vig down so low that players will have no option but to go through Lock's payment system to deposit or withdraw, without ever having to shut down the P2P option themselves. This isn't a "bad message" - it's horrible business practices and it's just plain wrong.
Quote:
Originally Posted by plumbacon
one interesting thing is that they have essentially capped the market at .33, and set the market at something much lower. once the selling of lock pro's funds becomes more public, i wouldn't be surprised to see funds selling at .2 or lower.
If this was in any way strategic by this company, or if these guys had some kind of insider information...either way, it's only going to end badly for Lock. How could they not see that?