What Is The Motivation Behind The Extreme Undercuts In The Splinterlands Rental Market?
Can someone please explain this to me? I'm just baffled at this point. Why do you go into a market where for weeks the card has been renting really well at 17-18.50 dec per day and just drop a 1.575 dec listing on it?
Just do a giveaway if that's what you're into. I've done some free delegations right here in Splintertalk and I've sent cards to my friends to help them level up many times. It's rewarding. Try it.
Don't do this in the markets though. It puts a lot of people income in danger. Mine definitely being one of them.
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People do this because they have no idea how to price their rentals.
You can't easily see the prices at which your cards are currently being rented out by others.
Splinterlands needs to fix their card trading interface to include a ladder with bids, offers and trading history.
Would make things so much more efficient and lift volumes.
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Splinterlands seems to be content to let 3rd parties do that stuff. I think they fear being thought of as bullies and I also think people like Jarvie for instance built parts of the splinterlands website for them so they are backing off stepping on the toes of peakmonsters. There is a huge lack of data out there though. I have no idea what I'm going to do come tax time lol
That said, the fact that people will take the time to list a card and get .02 for it but won't click the rental tab and look at the current price is baffling to me. How do you make through life just winging it and guessing if the answer isn't silverplattered?
!ENGAGE
I wouldn't worry too much.
It's just an immature, illiquid market right now.
But if Splinterlands continues to do the account numbers we've seen, then the increased volume will help with market efficiency.
Those lowball prices will get eaten up by savvy renters in no time and smart rentees like you can set your prices closer to the much higher, real market price.
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ENGAGEtoday.Keep in mind that some of these rentals are from weeks ago. People set rentals and someone rented it for weeks in a row because of the great price, and then the renter forgot to renew and it automatically reappears in the market. This happened to me with a few rentals I wanted to raise the price on but they got automatically rented out as soon as they expired.
Yep, this too.
I only have a few cards, so only bother to check that my prices are somewhat close to the market, maybe once a week if I'm lucky.
It would be cool if Splinterlands offered a 'best rental price' tool where it didn't auto renew your rental at your last price.
But instead it re-listed your card at the price of the average market price for that day or whatever.
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I've been teaching myself python. I have a bunch of ideas for the rental market. Peakmonsters is great but its not built for optomizing listings, just doing a lot of them really fast in bulk.
And since Peakmonsters built the whole splinterlands rental system, I'm not surprised they aren't built for smart listing either.
I think overall its going to be bots that take over the market and the whales are going to end up locking everyone else out. I noticed it happening a few days ago. There's always someone listing just below me with one listing that never seems to go away. As if its being replaced immediately after each time its rented out. The price will sit in one place unelss I undercut it and then in minutes I'm undercut again usually with a price with 3 digits after the decimal.
I rent out thousands of cards and spend over 5 hours a day managing it so I have a pretty good feel for the flow of the market and this isn't normal.
I completely agree. Personally I tell all new players to come in and just play bronze and invest just a little bit of time and resources (rent sparingly) to the game and wait until new resources from the game arrives because everything else is inflated and being manipulated so soak up new money. This is common in almost all crypto projects after a boom, and i'd hate to lose new players who are actually wanting to play and enjoy the game. Granted, people coming in to quick flip or exploit the systems in place and equally as damaging , or more.
Yeah there are a bunch of people who jumped in the rental market on day one when it was in race to the bottom mode and posted everything around .1 and never came back. There are many many listings that I just rent myself because they act as a psychological block on other renters. Like when level 1 cards are going for let's say 10 dec and suddenly a level 6 card pops up for 2 dec. The whole market will come to a standstill because people don't rent many lvl 6 cards and most people don't want to rent more card than they need and they don't want to spend more on a card thats not as good.
Eventually I'll rent the card myself and things get moving again. Most of those cards are from day one renters with big accoutns who just can't be bothered to update it. At some point its going to be all bots or account managers will become a thing. I think bots entered a few days ago.
When Splinterlands had that first 10X influx of players a lot of the whales rented swaths of cheap rentals and then listed their collection at much higher rentals. It caused a massive rental price increase, and was pretty easy to do for those holding large collections of cards and I think the rental market has not yet recovered from this (and maybe never will). If I was a dev I would put limits on renting cards if you already have it in your collection and even rental price caps at a certain percent so people can't just horde cards and rent for unfair price gauges. It severely undercuts how new players can advance.
ENGAGEtoday.