Why it doesn't make sense to exit scam.

Think about the money being made off commission. AB takes 4% of every sale. Therefore, it takes merely 25 days to make as much money as would have been made stealing everything from the site at once. Even if only half of the coins sent to the site get spent (I doubt that) it takes just over a month to make what you can steal in one day. It is FAR more profitable to keep the market up and running in both the long and short term.

Am I wrong?


Comments


[11 Points] None:

You're right. But if people get bored they get bored. Who wants to work for the rest of their lives?


[9 Points] internationalDABco:

It is much more profitable, but only if you feel you can operate safely and securely. Running a market means operating physical servers in remote locations and running that setup for multiple years without getting caught is difficult.


[4 Points] drugs_4_sale:

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[4 Points] Kami786:

News just in: Man lands on Moon.


[5 Points] roionsteroids:

Exit scams happen when they planned to shut down anyway (for whatever reason). In that case any amount > nothing.


[4 Points] None:

lol @ your math 4% of 1 day x 20 days is not 80% of all of the money in wallets on the site.

And exit scams are just that they are EXITING LEAVING CEASING OPERATIONS.


[2 Points] GreatAndromedaNebula:

DNMs are the only place where it is more legal to shut it down and steal all your customer's assets than keeping it running.

Think about it. It is like any type of gambling. You need to know when to fold and walk away. You walk away when you have made enough regardless of whether "the table is still hot". Operating a DNM is a dangerous game and eventually you will get caught. You should walk away when you have enough money and if you walk away, why wouldn't you take what you can via exist scamming?


[1 Points] None:

[deleted]


[1 Points] xenomorph_Larvae:

I don't understand where the hell your math came from.

at any given moment, a MAXIMUM of 4% of coins on site belong to them. this is true for 1 day, 20 days, 3 years, whatever. when they exit scam, 100% of coins onsite belong to them for the duration of the exit scam. it's impossible to determine any relationship between the two without knowing exact on-site coin values for the days in question

I don't feel like getting into the economics of it, but from the perspective of a profit-driven firm (especially one in a highly illegal, totally anonymous environment) exit scamming makes complete sense. I can't really say I blame them, honestly. even though it's a total dick move.

if I were a market admin, when it came time to close shop, I'd pull a partial exit scam. Like maybe steal 10-20% of all coins onsite, and then close all listings and allow people to withdraw the rest of their coin over the course of a week. it's still a dick move, but it's way more reasonable than stealing 100%


[1 Points] VicDamone_Jr:

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[1 Points] incursiorage:

Unless you got Interpol or the FBI or some government official on your payroll, chances are you wont be able to keeo your market up too long so exit scamming is just the best option.

Just don't leave too much money in your accounts, The most I have left in my AB without using was like... .25 BTC


[1 Points] octomarvel:

Then there's the crazy idea that some market admins are not fuelled solely by greed and maybe they have more integrity/dignity than to exit scam.

What madmen.

=)


[1 Points] w3b5Ky:

nope, you are right. and it's even more profitable to end the operation gracefully, like Agora did for instantce, so that there are no angry people wanting to find & kill the admins.


[1 Points] coffeencreme:

No you're not wrong. BUT. When the heat is on, or if you get sick of looking over your shoulder/DDoS/people complaining/vendors scamming, everything else that goes into running a market, you can take the money and running.

History tells us that most markets will take the money and run, so to speak.