A Solution for the Stock Market

So as some of you might know there was a bug with the previous stock market plugin where the source of our prices was ~15 minutes delayed behind real stock market data. So it was very simple to generate huge sums of money by getting a $5 app which would give you some real time data and use that to get huge returns on stock that would jump quickly. One fix was to limit stocks in a variety of ways, minimum price to trade, additional fees on trading, and maybe one or two I don't know of. Overall what needs to happen is a 15 minute transaction time which will allow the yahoo finance data to catch up to the real market data when the transaction is sent in. Besides that there are a couple methods to properly limit transactions.

Solution 1:
To fix and create a more fair trading system for stocks what needs to happen is a delay on purchase, that might further simulate the real stock market. For example what the plugin might ask for is how many you want to purchase and what price you are looking to buy at. Then instead of just taking the stock price for what it is, the plugin should go through asks and bids to complete the order and if there isn't enough demand to sell or supply to buy than the plugin would only allow for parts of the order to be completed.

Solution 2: Similar to the first option prices will be based off of the regularly stated price and all transactions will be delayed at a minimum of 15 minutes. Different from solution 1 this will not limit the number of transactions but rather just expand the time it takes to complete the order based the quantity of shared looking to be traded divided by the on the volume traded divided by the number of minutes since the market opened.

Example:

Solution 1 Example: Google is trading at 739.78 with and big and ask of 739.29 x 100 and 739.28 x 100. What this means is there are orders waiting to be completed. So in-game the price of google should be 739.78 but the amount that is willing to be traded would be the difference between the ask and bid prices.

Solution 2 Example: Google will be traded at 739.78 and it be able to trade unlimited amounts but since there is only a volume of 181,898 than on average it trades at 10,699,94 shares per minute. So if an order was placed for 25000 shares than it would take 2.34 additional minutes to complete the trade. Which brings the total time to do the transaction to 17.34 minutes.

Overall the stock market was a great idea and poor execution initially but there is a solution, its just if the techs want to implement it.

 

This is a great idea, and im still pondering why you're not a tech.

 

+1 stocks were great

 

+1, stocks are an easy and fun way to gain money. Fun to play with. A lot of people do want it back and I believe this will work. Personally I am a fan of the stock market and pretty good at it so yeah.

 

+1

 

why aren't you tech
+1

 

Can you apply for tech again
please
+1

 

+1

 

+1
i like this idea

 

I always just liked the concept of limiting it to the price the stocked opened at as fix.
The main issue here is how much data you can actually fit into an NBT tag...

 

I think most of this wouldn't be on the tag rather information that is looked up and stored in an object. None of which needed to be done instantly either as there would be a 15 minute build in delay.

 

yea i don't really know the difference, thought they were the same thing, tanks reggs!
/plot claim

 

Huge +1
Way better idea than removing stuff

 

+1

 

+1

 

+1
Both solutions were well stated and seem manageable

 

Approved - Great Ideas!

 

https://trello.com/c/lfmkXzXL