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blankseplocked The Ideal Player Run Bank
 
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Tigerras
Smash Incorporated
Posted - 2011.08.04 23:02:00 - [31]
 

The only way a bank would truly work is to have a system where sufficient collateral was held by a third party to cover all investments, *and* collateral was taken in exchange for all loans.

In which case, it's really not that useful.

Tom Bithoff
Posted - 2011.08.04 23:12:00 - [32]
 

Originally by: Ray McCormack
Of course it would. As judge, jury and executioner. And if I were them I would say **** that.



I expected that the only people who would say "**** that" would be the ones who prefer a less secure lending environment, whether for the sake of scamming lenders or charging higher interest rates to borrowers.

Emperor Cheney
Celebrity Sex Tape
Posted - 2011.08.05 01:32:00 - [33]
 

A perfectly secure EVE bank already exists, and is incorporated into every single user account. It's called the "Wallet."

Mella Elcus
Posted - 2011.08.05 02:31:00 - [34]
 

Originally by: Emperor Cheney
A perfectly secure EVE bank already exists, and is incorporated into every single user account. It's called the "Wallet."
Must be a lousy bank as I'm not getting any interest! :>

Emperor Cheney
Celebrity Sex Tape
Posted - 2011.08.05 04:32:00 - [35]
 

Originally by: Mella Elcus
Originally by: Emperor Cheney
A perfectly secure EVE bank already exists, and is incorporated into every single user account. It's called the "Wallet."
Must be a lousy bank as I'm not getting any interest! :>


Oh, well in that case I'd recommend putting all your money in Phaser Inc. If the purpose of a bank account is to generate interest, then no one offers a higher interest rate than them.

INDEEDWATSON Watsonindeed
Posted - 2011.08.05 04:36:00 - [36]
 

The bank would have to give out loans, but every now and then it would also need to stop giving loans.

Set loan maximums - that is, loans per month, and amount in a loan.

Directorship can remain the same.

For interest, have different accounts. Higher paying accounts typically charge to open an account in the first place. Interest rates can't remain stable - the highest rates should be subject to change. The lowest rate accounts should never change (they set the bar).

Account holder identity can be kept seret or revealed - I think it's very easy to make such a thing free, but the bank can charge extra if they like).

If the bank thrives and competition arrives, take more risks - but otherwise, don't go for it.
---

Having that kinda model is very easy - I think greed is the one thing that stopped it. Not necessarily from the bank, but from those that would prefer to start 'higher profit' corps.

INDEEDWATSON Watsonindeed
Posted - 2011.08.05 04:55:00 - [37]
 

Edited by: INDEEDWATSON Watsonindeed on 05/08/2011 04:56:20
If a loanee defaults on a loan, the bank can just announce it on their website or mailing list. That way, depositors can support the bank when it war decs.

Also grassroots banks should never loan to big corps or alliances until the point where they happen to be much bigger than said corp/alliance (use something like the british navy rule). They should be wise about loans and in their decisions to assign loan officers. People that lie about alts should be blacklisted. Basically, corp industry 101.

Levija Saplina
Supremacy Inc.
Not Found.
Posted - 2011.08.05 07:22:00 - [38]
 

Originally by: Tigerras
The only way a bank would truly work is to have a system where sufficient collateral was held by a third party to cover all investments, *and* collateral was taken in exchange for all loans.

In which case, it's really not that useful.


That's untrue.

Saying that is like saying that nowadays, banks should go back to a gold reserve based system that should equal the total amount of what they have in liabilities and loans etc...

The only way a bank could truly work in EVE is if CCP agreed to build in a mechanic which would allow for justice to be upheld into the financial system. One of the reasons why banks work nowadays even with the large amount of fictive and electronic funds, is the fact that if one does not pay back his loans or his bad credit, one can get his house repossessed and his assets seized.

If CCP built in a system so that some corporations could declare themselves as banks, and these banks would have the ability to charge customers for services and credit them for ROI % etc, then the system would allow for a bank to put someone into negative wallet value. If that were to happen, a player should have the ability to default on a loan, at the cost of having his wallet red flagged and not being able to use any bank services ever again, and having a large fee imposed on any wallet transactions, thus putting up a barrier to simply sending his money to an alt and starting over with another loan.

There are so many possibilities, and I am convinced that it would not be that hard for CCP to build it in the game, it would fit perfectly their sand box model.

But laziness ... and will to implement crappy things ... well we all know the rest.

Tigerras
Smash Incorporated
Posted - 2011.08.05 12:23:00 - [39]
 

I believe my point still stands, that within the current game framework, that is the only way an Eve bank would work.

IRL you can also have people arrested for fraud, unlike Eve, which is why collateral is the shortcut to trust. Easier to trust someone with cash when you have their items in hock.

TBH, the real difference is that the big loans IRL are collateralized, but you can seize those assets legally, and in Eve you have to hold those assets in order to secure the loan. It would be like CCP coding the ability to take stuff from other people's hangars to pay off debt, which they will never do.

The level of scamming and RMT that happens makes me believe that a negative wallet balance wouldn't effect things very much.

Michael Wenli
Posted - 2011.08.05 14:02:00 - [40]
 

I read SencneS proposal for restructuring the bank from eariler in the thread, she had some interesting ideas. Check it out.

You can't arrest people for in game fraud, but you can put a bounty on them sometimes or wardec their corp/aliance.

Collateral is a good thing. There are many good third party services that appear to have been operating succesfuly for quite a while that could be used.

The bank could charge interest on the loan and hold the colaterial as insurance against default. Having a large management structure would limit the damamge caused by any one administrator. The bank could also be more selective about who it works with. Also, the bank could sponsor industrial and mining projects for additional profit with a very small percentage of its holdings.

What about the banks political status? EBank never really got involved in alliance politics. Good or bad thing.

Srioghal moDhream
Posted - 2011.08.05 16:53:00 - [41]
 

Originally by: Mella Elcus
Originally by: Emperor Cheney
A perfectly secure EVE bank already exists, and is incorporated into every single user account. It's called the "Wallet."
Must be a lousy bank as I'm not getting any interest! :>


Sounds like a RL bank to me then.

Claire Voyant
Posted - 2011.08.06 14:48:00 - [42]
 

Originally by: Block Ukx
We ran a Cash Reserve for several months, which could be considered a bank. It was a successful project.

You raised 150 bil and bought a lot of ice, then the price doubled and you paid out 3% to your investors. You closed it out when ice stopped climbing. That was clearly a success, but I'm not sure it was a bank. What would have happened if ice fell?

Companion Qube
Minmatar
Electron Conservation Inc
SRS.
Posted - 2011.08.07 04:09:00 - [43]
 

The ideal player run bank is one that never starts. Banks are about the stupidest thing you could possibly "invest" your money in in eve.


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