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Troy Tyrion Lanister
Paladin Order Fidelas Constans
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Posted - 2013.09.22 14:21:00 -
[1] - Quote
I've wondered why there isn't a "savings bank" since profits on ISK seem easy to come by, i ran into minevest recently. Is legitimate? It looks like it is. Are there other, similar corporations / enterprises ?
thanks for your time in advance. |
Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.09.22 16:30:00 -
[2] - Quote
I think maybe your misunderstanding my post. (and i did google it, comes up with nothing related to eve really, at least not relevant)
I personally can make say 5% on my money in a short time. Surely a large enterprise can scale that by a huge number.
Bank of America at the end of my street is a savings bank (among other things) no clue what your getting at really.
Other than "its a scam". Not saying your wrong, i'm just not seeing any reasoning.
Probably a third of the people reading this post could offer 20% a month to people on their money and make more than that, i dont see why a corp couldnt do that en masse. I just would rather not bust my ass to do it if i had the option. |
Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.09.22 16:35:00 -
[3] - Quote
Sorao Soreen wrote:there is nothign to stop them other then the fact that every other time its happened somone has walked off with billions. oher then grendel who is still going strong
isnt this the same thing as investors that give a guy say a 10 billion loan and expect interest payments? im not seeing the difference. Its just a question of crediblity / trust between the lender /borrower. |
Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.10.01 22:43:00 -
[4] - Quote
flakeys wrote:flakeys wrote:Kethas Protagonist wrote:A month-old toon (that joined a corp less than an hour after creation, suggesting it's not simply a new player) with no post history starts a thread hawking Phazer 2.0, and nobody calls him out on it? Jeez, the MD immune system isn't what it used to be. But but ...but he's fcon he CAN'T have any bad intentions ..... ' Ran into general newbold in our Alliance channel today , so this confirms that surely people from fcon can't have any bad intentions . Oddly enough he seemed less pleased with seeing a ''formiliar'' face as me .... might be because i like to catch up on old stories in public channels
lol Flakeys . I've seen you lurking around.
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Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.10.01 22:48:00 -
[5] - Quote
Vera Algaert wrote:There have been four notable banks in EVE so far (not counting BMBE) - EIB, FuryBank, EBANK and DBANK.
EIB: probably a Ponzi scheme from the start
FuryBank: lost assets during the fall of Fountain, lost access to assets in Fountain, lost its previous business model of supplying POS fuel to Fountain, owner had two (?) private mothership losses in the same timeframe - initially Fury Trader seemed set on trying to recover from these blows but eventually he went the scam route instead. The end of 0.0-related investments on MD.
EBANK: lost significant assets in failed investments (KIA). CEO had real-life issues and decided to rather convert the ISK into $$$ than wait for the full realization of just how broke the bank really was (full audit of the bank's finances had been scheduled for some time) and try to fix the mess. During liquidation of the remaining parts it became clear that the bank's IT manager had also prepared a theft by granting himself account balances without depositing corresponding ISK.
DBANK: turned from a two man operation into a one man operation; took on more commitments than it could handle; Shortly after DBANK had suffered a major theft by an employee (Xabier), Shar accidentally the bank's central database (as he was afraid that customer details might be exposed through a mistake in server configuration). Owner seemed initially willing to reconstruct the database and reopen the bank. Eventually he went the scam route instead - probably after realizing that on top of having lost their account/transaction database (with no recent backups available) the bank had been broke for quite some time and there was no realistic way to recover.
There's a lesson to be learned here. Banks in EVE don't work. Trust isn't even the core issue - the sequence is rapid growth -> financial failure -> burnout -> scam.
Both EBANK and DBANK tried to limit growth by lowering interest rates - but even at 1.5%/month EBANK got swamped with ISK.
So far this is one of the few responses actually responding to what i posted.
Having thought about it a LOT since i posted that, it does seem that eventually, greed would get the better of most players , and even if it didnt get the better of ONE player, this sort of operation would eventually demand many people to keep it going, and one bad egg would screw the whole deal.
It still seems like a valid concept as anything in eve could be turned into a scam. A corp, a market order, a contract, a mission, anything. The "how" is more the issue than the "if" i still am thinking.
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Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.10.01 22:56:00 -
[6] - Quote
totally off topic... i never understood this mentality. Sluts don't "deserve" to be raped. Could they dress differently? Sure. Could they act differently? Sure. But they don't "deserve" criminal abuse. Dont' get me wrong i don't lose much sleep over morons getting screwed over. |
Troy Tyrion Lanister
Paladin Order Fidelas Constans
0
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Posted - 2013.10.01 23:04:00 -
[7] - Quote
Too bad there isn't multiquote on this chat forum (or if there is I dont see it)
But thanks to the people giving reasoned responses.
The sumary seems to be:
1. "The Concept is hypothetically sound but......" 2. "You cant maintain the high returns as the ISK amounts become huge to continue the payouts". 3. "This leads to (even if the original goal wasnt a scam) to failure / scams.
EVen with my tiny bankroll (even just between the time of that first post and this post) my own returns while still high, im starting to run out of places that Im aware of to keep making the same high returns (and my bankroll is a joke).
So how do "real" banks pay 2% on interest? Making money just shuffling papers in real life is a HELL of a lot harder than it is in eve. |
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