It’s no secret that we’ve been considering many changes over the last few weeks when it comes to the market mechanics. We made some changes already with regards to buying inactive accounts and we will now make some changes to selling shares.
Effective immediately, you will only be able to sell a maximum of 100 shares of any individual every 12 hours. That equates to a maximum of 200 shares in any given day. We will examine this rule and these numbers and adjust as required.
I would like to explain our reasoning:
* Empire Avenue is about buying shares in great content producers. We want to encourage you to consider the value of the content you are buying. If it is too easy to sell great quantities then we devalue the ability for you to consider what that content is actually doing.
* There are many different motivational biases for those using Empire Avenue. First and foremost, Empire Avenue is a social site and selling large amounts of shares can result in “revenge sells” and other tactics which are not within the spirit of Empire Avenue.
* Those that need to sell to upgrade can still do so, albeit a bit more slowly. More importantly it should give you cause to think why you buy shares in any Influencer because unloading such shares will be slower.
* Coordinated group selling is not something we tolerate. While the changes we are implementing will lessen the impact we will also take action (which may include suspension or banning) against those that participate in such coordinated activity.
We realize that this is quite a change. We don’t want to catch problems after the fact or put in hard “stops” where share trading ceases on fast moving stocks. We would rather put in rules that control the markets within the spirit of what Empire Avenue intends.
We want you to value the content and the content creators, to value their influence amongst their networks and with you. To do this, we believe being selective, spreading your hard-earned Eaves and certainly making good judgement calls is paramount. A great cartoonist once coined the most brilliant phrase for a red and blue suited superhero, which I will now blatantly adapt:
“With great virtual wealth comes great virtual responsibility.”