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Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 00:00:00 - [1]
 

Edited by: Vaerah Vahrokha on 09/02/2011 18:12:14
Edited by: Vaerah Vahrokha on 08/02/2011 10:52:27
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Chapter 1 - Summary of VAEFF and VAERT
Chapter 2a - Super TLDR version
Chapter 2b - TLDR version
Chapter 3 - Background
Chapter 4 - Corporate governance
Chapter 5 - Investment Strategy and Restrictions
Chapter 6 - Statement of Assets
Chapter 7 - Full Disclosure of Risks
Chapter 8 - Disclosure of Main and involved alts
Chapter 9 - Exit Strategy
Chapter 10 - FAQ


Chapter 1 - Summary of VAEFF and VAERT

The concept is based on the creation of a charity fund able to accrue ISK in a slow and painless way and - when a RL emergency happens, convert such ISK into a RL money donation by means of CCP.

Since this is going to be an initiative going beyond the virtual reality of the game, great care has been put in attempting to structure and execute the plan correctly.

On top of the fund sits a charity corporation made for the task. The charity will act as custodian of the fund and other assets it receives.
Other concepts being introduced here are provisions both to foster sister initiatives and to delegate fund assets to third parties.


Chapter 2a - super TLDR version
A charity organization has born, to help the unfortunate during "CCP PLEX for [Population]" initiatives.
Send ISK to Vahrokh Financial Technologies with MRVAHFTFF016 P01=0 Charity donation as reason.


Chapter 2b - TLDR version

1) A donation fund has been created.
2) It accumulates assets and money until some RL disaster happens and CCP starts the next "PLEX for <insert here beneficiary>".
3) The fund converts everything into PLEXes and sends them to CCP for this campaign.

4) Various forms of donation have been provided, the most direct consists in sending 10M or more value in:

- ISK to Vahrokh Financial Technologies with clause: MRVAHFTFF016 P01=0 Charity donation
- Contract items (preferred: unresearched BPOs, skillbooks and PLEXes) to: Vahrokh’s Emergencies Relief Trust

5) It's also very easy and secure (no money is sent to anyone) to join the Sister Organization initiative. You declare a portion of your stuff / money as being reserved for CCP PLEX initiatives and manage it. You just send Vahrokh’s Emergencies Relief Trust a monthly statement about how much you accumulated so far.


Chapter 3 - Background

This is the charity fund whose foundation ideas were presented on a discussion thread located here.
It started with a petition made to a GM (copy available) asking whether CCP's PLEX aid for Haiti was a "one shot" initiative or if more of such emergency relief campaigns would happen again (in case of disasters of course).
Since the reply was positive, I decided to make my little contribution to the good of the less fortunate.
Therefore my finance and securities plans execution corporation Vahrokh Financial Technologies [VAHFT], on the 2nd of January 2011 issued the fund, with code MRVAHFTFF016, "Vahrokh's Ethical Fund of Funds" (VAEFF).
A custodian corporation has been created as well, Vahrokh’s Emergencies Relief Trust [VAERT].

Business objectives of VAERT are to:

- keep and manage the fund,
- keep possible donations in assets,
- foster and keep a book of possible sister initiatives,
- periodically report about the progress.


Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 00:02:00 - [2]
 

Both the fund and VAERT have their own web pages and documents as follows:

Vahrokh’s Emergencies Relief Trust [VAERT]
  • Main page: Link

  • Certificate of Incorporation: Link

  • Articles of Incorporation: Link

  • Bylaws: Link



Vahrokh’s Ethical Fund of Funds [MRVAHFTFF016]


For transparecy's sake, part or whole of these document will be posted on the EvE forum if requested.


Chapter 4 - Corporate governance

In its initial phase, VAERT is a one man (CEO) operation. It may indefinitely stay like that but the Articles of Incorporation and the Bylaws have provision for scaling the operation up and implement a Board of Directors (BoD), Officers and even committees.
Regardless of governance chosen, the CEO is a "super director" here. She will remain the only in game corporation member, she will always have the last word and tenure on the MRVAHFTFF016 fund (not in case of aggregate funds). She is also the only keeper of MRVAHFTFF016's assets of any kind.
These quite strict measures are needed because MRVAHFTFF016 survival and integrity is priority over every other consideration bar CEO's early demise.

In short, no one will have withdrawing rights on VAERT's MRVAHFTFF016 fund wallet or assets except the CEO.
A Board of Directors would vote about directors and officers rights on assets and liquids acquired off third parties (i.e. Third Party asset holder solution, as long as the donor accepts the BoD claims).

The BoD will also vote about their wage (if any; the CEO waives any wage) internal and external auditing and reporting procedures.


Chapter 5 - Investment Strategy and Restrictions

The following is a brief listing of relevant strategies and restrictions. For the full and official list please refer to the Articles of Incorporation, Bylaws and fund prospectus.

1) Money and assets get in and ideally never gets out until the next CCP emergency relief campaign.
2) The at the CCP campaign announcement, MRVAHFTFF016 fund's assets are liquidated and the resulting capital all converted into PLEXes to send to CCP.
3) Sister operations will have to do the same. Failure at doing so within one week of CCP's campaing start, for whatsoever reason, will constitute breach of agreement. They will be delisted from the sister organizations list and considered in default or fraud.

It's possible to have withdrawals, due to rental fees, broker contract fees and similar.
The BoD, if any, will have powers to decide on assets and funds that have not credited to MRVAHFTFF016 yet.

Possible ways to donate are:

1) Deposit of cash (ISK) as per the fund prospectus instructions located at Link:

For anonymous donations, it’s possible to address them to:

Vahrokh Financial Technologies

with clause:

MRVAHFTFF016 P01=0 Charity donation



For public donations, it’s possible to address them to:

Vahrokh Financial Technologies

with clause:

MRVAHFTFF016 P01=1 Charity donation

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 00:04:00 - [3]
 

Edited by: Vaerah Vahrokha on 08/03/2011 13:30:05
2) Contract assets of 10M (ten millions) or above in value to: Vahrokh’s Emergencies Relief Trust (not to Vahrokh Financial Technologies). Any high security system will do, though main trade hubs are preferred.

3) Aggregate funds of whatsoever origin will send their contribution as they feel fit. Vahrokh corporations will perform at their best to produce a monthly donation.

4) Collaborating sister corporations or funds don’t need to send anything except a monthly sister fund NAV statement, inclusive of physical and financial assets.

5) It’s possible to perform a special secured form of donation (i.e. have Chribba hold the donations). A Trusted Third Party Service would hold donated capital and assets and basically act as a sister organization. For more information please refer to the fund prospectus.


Chapter 6 - Statement of assets

2011 Balance sheet


Chapter 7 - Full Disclosure of Risks


  • Risk of scam: no one in EvE may produce proof that he won't scam. Therefore I won't attempt any excuse nor the "cashing in rep" jolly. I'll only point out at the following facts:

    • Money spent on setting up a commercial hosting, domain name.

    • One and half month spent preparing a web site and researching dozens of documents.

    • Other hours spent at researching and implementing NEISIN codes.

    • All of this, to start with below 1 billion capital, with no real expectation of anyone supporting the initiative.



  • Risk of default or critical loss: no one but me may touch the MRVAHFTFF016 capital or assets. No one but the third party Sister Operations managers have access on their own accrued capital and assets.

  • Risk of partial loss: in case a BoD is formed, the directors might have access to (consented to by donors) capital and assets. Some BoD security hole or complacency could lead to a loss of those assets.

  • Risk of war declaration: no one in the involved corporations ever needs to leave their station.

  • Risk of CEO (me) death or incapacitation: this would lead to total loss of MRVAHFTFF016. No one I know IRL is even able to comprehend what this is about. Third party, secured donations and Sister Operations would be safe and would follow the procedure indicated in the Articles of Incorporation, Article XII sections (1) and (2).




Chapter 8 - Disclosure of Main and involved alts

Vahrokh Consulting [VAHCO] => Vaerah Vahrokha, CEO, main character (not directly involved in the initiative). Role: invents stuff.
Vahrokh Financial Technologies [VAHFT] => Beatrix Adams, CEO. Role: executes the invented stuff.
Vahrokh’s Emergencies Relief Trust [VAERT] => Ishkahunta, CEO. Custodian of the fund. Vaerah Vahrokha, President.
Vahrokh's EvE Mercantile Exchange [VEMEX] => VEMEX Monica, CEO. Registrar, administration, securities trading.

Nota Bene
Don't send anything to the characters. Send to the corporations.
For any inquiry, information, clarification always contact Vaerah Vahrokha.


Chapter 9 - Exit Strategy

Please refer to the Articles of Incorporation Article XII sections (1) and (2) and the prospectus, section "Exit strategies".

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 00:07:00 - [4]
 

Edited by: Vaerah Vahrokha on 11/02/2011 11:25:48
Chapter 10 - FAQ

(inspired - to say the least - by Machete Visor's prospectus)

Q: How do I know this isn't a scam?
A: Please refer to Chapter 7, Risk of scam.

Q: How do you know you'll be successful?
A: It cannot be unsuccesful since there'll be at least one involved donor. If others decide to join up, it's all for the better.

Q: Why are you doing this?
A: Because I don't go with the herd, because EvE is a sandbox where someone may even decide to break the heavily suggested "ruthless tyrant / scammer / douche / harasser" scheme.

Q: Do you intend to have an audit done at some point?
A: Yes. Maybe once it has something beyond 3-4 API initial funding entries to show.

Q: When will the fund end?
A: no set date has been decided as of now.

Q: What if someone War Decs the fund?
A: No involved character needs to ever leave a station.

Q: Will the fund raise more capital in the future?
A: it is supposed to slowly increase as more donations are made.

Q: Can shares be traded?
A: VAERT is a corporation that does not issue any shares.

Q: What if I wanted to invest and actually make money out of it?
A: there are three other funds, two of them are active but still not ready for public access. Due to RL interference, this is not going to change in the short term.

Q: May I send some items instead?
A: In case you want to send to:

- VAERT (me): you may, but I'll liquidate them pursuant to the Articles Of Incorporation and Bylaws. Only cash and PLEXes are allowed to be kept by this VAERT contract.

- Chribba or Grendell: they would only accept PLEXes (and ISK ofc) and only at Jita IV CNAP. DO NOT FORGET TO MARK DONATIONS AS SHOWN IN THE OP or they'll getting money for "no reason" and it'll be possibly lost.

Q: What name will appear as donor? Me, my corp name or what?
A: The donor that will be automatically fetched for publication is exactly the sender / contractor of the stuff.

- To appear as corporation you have to use the Transfer function of the corporation wallet, not to send as corporate member.

- Different arrangements of any kind may be made, but I need to be talked / mailed in advance (on Vaerah Vahrokha) about that.

Q: Could you explain about the Sister Operations
A: Basically I don't care to hold your ISK (sounds odd here and in EvE in general, doesn't it?). Imagine this is a sort of franchising.
I setup the infrastructure, the ruleset etc. etc., you put some money in a separate wallet and YOU hold it. Maximum safety. You are just bound to send me regular NAV statements because the Sister Operation will be a (separate) voice of the main fund balance.
When the time comes and CCP starts an emergency relief campaign, you are bound to convert whatever you gathered (suggested minimum of 500M) into PLEXes and to deliver those PLEXes to CCP. Then you post a screenshot of the act of sending the PLEXes to CCP.
There's no way you may lose money to fraud in this way.

Q: Could you explain about the secure Third Party Holder donations?
A: Do you trust Chribba / Grendell etc. more than me? Good. Talk them into one way holding of whatever you want to donate (i.e. no return of money or assets to you).
Once an emergency happens and CCP starts the related PLEX initiative, have him convert it all into PLEXes, send them to CCP and post a screenshot of the act of sending the PLEXes.
There are three differences between this and the above (Sister Operations):

- the donation will be effectively considered credited to the main fund.
- Both you and the Third Party Holder have to produce a joint forum post stating generalities of the donation and how it's one way.
- Both you and the Third Party Holder have to produce a joint forum post stating that in case you stop paying the Third Party Holder fee, he will automatically forward and contract the full donation to VAERT.

Cyniac
Gallente
Twilight Star Rangers
Posted - 2011.02.08 00:09:00 - [5]
 

For now best of luck with this initiative.

I need to discuss internally the setup of a sister fund.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 00:12:00 - [6]
 

Edited by: Vaerah Vahrokha on 08/07/2011 20:26:56
Public Donors list
2011-01-28: 1 x PLEX | Inventory | Donor name: Torain (indirect donation)
2011-02-08: 100,000,000 | Cash | Donor name: RAW23
2011-02-10: 500,000,000 | Cash | Donor name: Far Ranger [FARR] corporation
2011-02-12: 100,000,000 | Cash | Donor name: Yendor Widdershins
2011-03-08: 100,000,000 | Cash | Donor name: Phoebe Halliwel
2011-03-08: 200,000,000 | Cash | Donor name: RAW23
2011-03-08: 12 x PLEX | Inventory | Donor name: Krythas
2011-03-14: 4 x PLEX | Inventory | Donor name: Liberty Eternal
2011-03-15: 200,000,000 | Cash | Donor name: Genbukan
2011-03-16: 10B | Cash | Donor name: Roguehalo
2011-03-17: 10M | Cash | Donor name: Atima
2011-03-17: 72 x PLEX | Inventory | Donor name: Amarr Citizen 155
2011-03-17: 1B | Cash | Donor name: Magnu Stormhawk
2011-03-21: 200M | Cash | Donor name: Liberty Eternal
2011-03-20: 5,366,903,304.43 | Inventory | Donor name: Barbicane (*)
2011-03-21: 2.6B | Cash | Donor name: Roguehalo (bought a ship gifted by Barbicane).
2011-03-22: 1,545,542,449 | Cash | Donor name: RAW23 (bought a ship gifted by Barbicane).
2011-03-23: 1,676,636 | Cash | Donor name: Edwin Rothbard
2011-03-25: 40B | Cash | Donor name: Rykker Bow | RECORD
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2011-03-26: 500,000,000 | Cash | Donor name: Far Ranger [FARR] corporation
2011-03-29: 13,208,010.48 | Cash | Donor name: Edwin Rothbard
2011-03-30: 1,000,000 | Cash | Donor name: He opted to stay anonymous
2011-04-02: 100,000,000 | Cash | Yendor Widdershins
2011-05-03: 100,000,000 | Cash | Vaerah Vahrokha
2011-05-14: 1,000,000,000 | Cash | Donor name: Far Ranger [FARR] corporation
2011-05-24: 1 x PLEX | Inventory | Donor name: Liberty Eternal
2011-05-30: 118,408,340 | Cash | FuzzallWuzzall
2011-07-06: 50,000,000 | Cash | Tutskii

(*) 4,145,542,449 were liquidated, 1,221,360,855.43 are still to be attempted and liquidate.


All time Donors Hall Of Honor And Fame

1) Rykker Bow
2) Amarr Citizen 155
3) Roguehalo
4) Barbicane
5) Krythas
6) Liberty Eternal
7) Far Ranger [FARR] corporation


Sister initiatives / funds

CSARCYVIPEF5 Arcy Dorei

Balance

2011-04-08: 53,276,375 | Cash | Continuing operations

Outstanding

2011-04-08: 0 | Cash | Future Distribution
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
CSGAMEZCF013 Samroski

Balance
2011-04-29: 667,302,371.79 | Cash | Continuing operations

Outstanding

2011-04-29: 0 | Cash | Future Distribution
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
OEOTHERCF019 Chribba

Balance
2011-03-07: 300,000,000 | Cash | Continuing operations

Outstanding

2011-03-07: 0 | Cash | Future Distribution

Misty McGinnity
Mystify Trading Company
Posted - 2011.02.08 02:15:00 - [7]
 

Originally by: Vaerah Vahrokha

Wall of text



You do realise this is an online game right? Rolling Eyes

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 08:18:00 - [8]
 

Edited by: Vaerah Vahrokha on 08/02/2011 10:59:01
Originally by: Misty McGinnity
Originally by: Vaerah Vahrokha

Wall of text



You do realise this is an online game right? Rolling Eyes


What part of "Chapter 2 - TLDR version" was too long or hard?

Edit: this is a game, but this investment will be converted in RL money by CCP. So it's not just a game. Even if this stopped today, one day 10+ guys would receive their solar powered portable and disposable light (like it happened for Haiti) or some cures because a dude in a game gathered ISK for them.

Kalrand
GoonWaffe
Goonswarm Federation
Posted - 2011.02.08 08:30:00 - [9]
 

Originally by: Vaerah Vahrokha
Originally by: Misty McGinnity
Originally by: Vaerah Vahrokha

Wall of text



You do realise this is an online game right? Rolling Eyes


What part of "Chapter 2 - TLDR version" was too long or hard?


The fact that your tl;dr is called a "chapter" should tell you something is off here.

Barbicane
TGUN Industries
Posted - 2011.02.08 09:01:00 - [10]
 

Very interesting. Bookmarked for further reading.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 10:39:00 - [11]
 

Edited by: Vaerah Vahrokha on 08/02/2011 11:06:34
Edited by: Vaerah Vahrokha on 08/02/2011 10:53:40
Edited by: Vaerah Vahrokha on 08/02/2011 10:47:23
Originally by: Kalrand

The fact that your tl;dr is called a "chapter" should tell you something is off here.


This is not a regular MD investment. There has not ever been another like this before AFAIK.

- This is a charity and it'll have to stand for a lot of time and be solid for it.
- This is as real as it can get. There's even a component of real money "trading" even if it'll be CCP to perform it.
- CCP will perform a real financial operation where real money will be involved. The fund structure has been made as realistic as possible as a consequence.
- In case this thing will go beyond me, there's provision for scaling up.
- It's also the first operation where money gathering would be spread across multiple independent people, to minimize risks.
All of this has a price in complexity.


But, as very, very short TLDR that would make happy even the most casual reader:

A charity organization has born, to help the unfortunate during "CCP PLEX for [Population]" initiatives.
Send ISK to Vahrokh Financial Technologies with MRVAHFTFF016 P01=0 Charity donation as reason.



Finally: this prospectus has the same chapters and general length of others posted in the past (i.e. Machete Visor's), I don't recall anyone complaining at them.

Another edit: I amended the prospectus with the super TLDR version.

Samroski
Games Inc.
Posted - 2011.02.08 12:02:00 - [12]
 

I think this is a great idea.

I am all for the ability to donate to charity using ISK. Gives me a good feeling about spending so much time paying Eve and making ISK :)

Eve radio and some others took in small donations during the last charity drive, and I am all for being able to donate amounts smaller than a PLEX. Every little bit counts.

I initially pledge 500m towards this charity- though I am not yet sure whether I want to manage it myself or give it to the fund.

Best of luck.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 12:41:00 - [13]
 

Originally by: Samroski
I think this is a great idea.

I am all for the ability to donate to charity using ISK. Gives me a good feeling about spending so much time paying Eve and making ISK :)

Eve radio and some others took in small donations during the last charity drive, and I am all for being able to donate amounts smaller than a PLEX. Every little bit counts.

I initially pledge 500m towards this charity- though I am not yet sure whether I want to manage it myself or give it to the fund.

Best of luck.


I am going to see if Chribba or Grendell could hold the donations. I really want for anyone to feel comfortable with this initiative.

Arcy Dorei
Posted - 2011.02.08 12:50:00 - [14]
 

Good luck VV! This is a great idea, you'll get people criticising anything in EVE so don't worry so much .. this is WORTH DOING.

To anyone reading I have an IPO with 500 shares set aside for this, VV is not alone in wanting to do it. First dividend was today so there is an isk pool building up already. I encourage anyone who can to set aside a little of their profit each month for this fund. What are you going to lose, a few internet pixel isks? :)

Samroski
Games Inc.
Posted - 2011.02.08 13:00:00 - [15]
 

Originally by: Vaerah Vahrokha

I am going to see if Chribba or Grendell could hold the donations. I really want for anyone to feel comfortable with this initiative.

It is the possibility of you dying that bothers me a bit. There is no time limit, and no back up plan in case of your demise. Potentially the fund will accumulate tens (if not 100s) of billions- and I do not want charity going to waste. I may be willing to take a risk with an in-game/forum investment, as that is part of the game, but I want to ensure that what I give to charity goes to charity.

Caldariftw123
Posted - 2011.02.08 13:15:00 - [16]
 

Edited by: Caldariftw123 on 08/02/2011 13:15:57
Originally by: Samroski
Originally by: Vaerah Vahrokha

I am going to see if Chribba or Grendell could hold the donations. I really want for anyone to feel comfortable with this initiative.

It is the possibility of you dying that bothers me a bit. There is no time limit, and no back up plan in case of your demise. Potentially the fund will accumulate tens (if not 100s) of billions- and I do not want charity going to waste. I may be willing to take a risk with an in-game/forum investment, as that is part of the game, but I want to ensure that what I give to charity goes to charity.


^^^ The possibility of VV dying is probably about the same as if Chribba or Grendell died. It's not that high, don't worry about it .. a plex-for-aid fund will come about before long. If the investment was 'secured' somewhere else don't forget this would stop the fund from being able to grow through utilizing it's capital and would be forced to rely entirely on donations. Those donations will be few and far between I imagine.

Manage a fund yourself, if you feel like you can be more certain the isk will actually reach those that need it. Personally I think VV is trusted enough, especially with something like this at least as much as you could trust Chribba.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 13:30:00 - [17]
 

Edited by: Vaerah Vahrokha on 08/02/2011 13:31:32
Originally by: Arcy Dorei

Good luck VV! This is a great idea, you'll get people criticising anything in EVE so don't worry so much .. this is WORTH DOING.



First of all, thank you for the support and commitment! I modified the donors and sister donations list to account for the new amounts: Link.



Originally by: Samroski

It is the possibility of you dying that bothers me a bit. There is no time limit, and no back up plan in case of your demise.



It also bothers me, and a lot. It's why I suggested to structure this fund as "e-Mule" alike, i.e. peer to peer. No trust issues and if I die every peer money is safe.
I understand some will prefer to have someone take on the task of micromanaging the accounting etc. so I am going to accept 3rd party donations. We'll see if they become so much that it becomes worrysome. In that case I'll find someone trusted enough to keep them.


Originally by: Caldariftw123

If the investment was 'secured' somewhere else don't forget this would stop the fund from being able to grow through utilizing it's capital and would be forced to rely entirely on donations.



It's already entirely based on donations. I am NOT going to EVER touch a single ISK of it unless it's pursuant to the Articles of Incorporation (read: to pay office fees (currently = 0), BoD wages (currently = 0)).
The senior fund MRVAHFTFF016 is filled in by donations off two other funds of mine and 3rd party donations only.


Quote:

Personally I think VV is trusted enough, especially with something like this at least as much as you could trust Chribba.



I am humbled by such statement. I will try my best to keep up with it.

Samroski
Games Inc.
Posted - 2011.02.08 14:40:00 - [18]
 

Originally by: Caldariftw123

Manage a fund yourself, if you feel like you can be more certain the isk will actually reach those that need it. Personally I think VV is trusted enough, especially with something like this at least as much as you could trust Chribba.

I would have concerns about anyone (3rd party) dying when it comes to charity. I have no trust issues with VV, but I agree that managing a fund myself is the best option.

This is what I'm thinking:
Invest 500m on behalf of the charity using a separate wallet division. Keep re-investing indefinitely. When the need arises, all cash gets donated to the fund, ensuring a NAV of at least 500m. Could even use an alt for this to keep things more organized (but unlikely).

I could report on this periodically, but the way I operate a regular monthly report would not be possible.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.08 16:02:00 - [19]
 

Originally by: Samroski
Originally by: Caldariftw123

Manage a fund yourself, if you feel like you can be more certain the isk will actually reach those that need it. Personally I think VV is trusted enough, especially with something like this at least as much as you could trust Chribba.

I would have concerns about anyone (3rd party) dying when it comes to charity. I have no trust issues with VV, but I agree that managing a fund myself is the best option.

This is what I'm thinking:
Invest 500m on behalf of the charity using a separate wallet division. Keep re-investing indefinitely. When the need arises, all cash gets donated to the fund, ensuring a NAV of at least 500m. Could even use an alt for this to keep things more organized (but unlikely).

I could report on this periodically, but the way I operate a regular monthly report would not be possible.


I know detractors have criticized me a lot but I suggest you eve mail me and get a NEISIN.

In fact I introduced that thing exactly to orderly manage what could happen if multiple people join aggregate investments like this.

If you don't feel like creating code for your fund by yourself, I'll do that for you. Just eve mail me:

- That you agree to join as a sister fund. You will just need to eve mail your current fund amounts (aka NAV). It's not important you do it like a Swiss clock, monthly would be best but if you can't, no biggie.

- The empire you issue it under (IE Caldari State etc)
- The ticker of the corp issuing it. If the alt does not have it, send yours.

I will include your 500M in the outstanding funds (see Arcy Dorei's sister fund example) and have it in next month's balance.

You have to do nothing else past that (on the forum), just keep me updated when you can, as I have written above.

Oh, and if you go ahead, thank you!

Lando Antilles
Posted - 2011.02.08 22:36:00 - [20]
 

I think this an awesome idea!

I'm in the process of writing up an IPO and want to include your fund as a regular charitable contribution. But, like the others have mentioned, the untimely demise/incapacitation of VV is a potential detractor. I've thought of a potential workaround...

Since CCP made it clear that scamming in relation to a relief fundraiser was a big no-no and would result in consequences, could we ask CCP to intervene here? Since VV claims that the sole purpose of this fund is for charitable donation, then CCP should be concerned with it too, right?

Perhaps VV could ask CCP (and we get confirmation here) that if the account in question were to go inactive for a specified period of time, then the assests would be liquidated and the proceeds converted to PLEX > $$ and donated to the next charity event?

I don't think that's too much to ask of CCP, is it? And if they are willing to do this and VV isn't, then I would be willing to step up. Though, I don't really have the MD cred to make it work.

Once again, I applaud this idea and look forward to helping out.

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.09 01:16:00 - [21]
 

Quote:

Perhaps VV could ask CCP (and we get confirmation here) that if the account in question were to go inactive for a specified period of time, then the assests would be liquidated and the proceeds converted to PLEX > $$ and donated to the next charity event?



I really wish this was possible. Keeping any "extraneous" money makes just my accounting harder plus it's indeed subject to my demise's risk.
I pondered to post about your very idea in Assembly Hall earlier today but I did not proceed because some would surely accuse me of making self advertisment or "grind rep" with that. If you want to do so, feel free.

I actually don't know why CCP lets people send PLEX to their special character only during their campaign and not every time (and accumulate in there).

AtheistOfFail
AoF Lottery Services
Posted - 2011.02.09 03:49:00 - [22]
 

Originally by: Vaerah Vahrokha
Quote:

Perhaps VV could ask CCP (and we get confirmation here) that if the account in question were to go inactive for a specified period of time, then the assests would be liquidated and the proceeds converted to PLEX > $$ and donated to the next charity event?



I really wish this was possible. Keeping any "extraneous" money makes just my accounting harder plus it's indeed subject to my demise's risk.
I pondered to post about your very idea in Assembly Hall earlier today but I did not proceed because some would surely accuse me of making self advertisment or "grind rep" with that. If you want to do so, feel free.

I actually don't know why CCP lets people send PLEX to their special character only during their campaign and not every time (and accumulate in there).


Here's time for a self-plug. Check out my sig. Then sign up for a shattered crystal affiliate account. Get friends/costumers/anyone who buys GTCs to buy through you (300k+ players). For every 10 - 20, you get enough for a GTC of your own. Costumers don't get charged extra and you can put the extra coin towards more plexes.

PS: Previous idea copyright of AoF Industries, AoF Lotteries and just plain AoF. Only authorized for use by Vaerah Vahrokha cause she's sexy Razz.

Lando Antilles
Posted - 2011.02.09 15:46:00 - [23]
 

Posted this idea in Assembly Hall... will see if it gets any traction.

http://www.eveonline.com/ingameboard.asp?a=topic&threadID=1465151

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.09 18:17:00 - [24]
 

I am glad to announce that Chribba, in his generosity, has accepted to hold PLEXes and ISK (don't send anything else!) for free.

He will also update the current amounts here.

This is my side of the deal (I won't post his, for mail privacy):


Originally by: Vaerah Vahrokha

Ok, deal.

Important: whatever happens, in any case, off anyone including me (hacking happens even if I am doing nothing to be hit), never release a single pixel of what you get even if it was me in person to beg you for it.
Only CCP may ever get the stuff, even one ISK of it.


Nienor Jinn
Posted - 2011.02.09 18:22:00 - [25]
 

Edited by: Nienor Jinn on 09/02/2011 18:24:32
obvious alt is obvious :(
Originally by: Vaerah Vahrokha
I am glad to announce that Chribba, in his generosity, has accepted to hold PLEXes and ISK (don't send anything else!) for free.

He will also update the current amounts here.

This is my side of the deal (I won't post his, for mail privacy):


This is a great step to take care of the graft/corruption concerns! But I still think we need CCP onboard in case Chribba gets hit by a bus.

Caldariftw123
Posted - 2011.02.09 18:28:00 - [26]
 

Originally by: Nienor Jinn
Edited by: Nienor Jinn on 09/02/2011 18:24:32
obvious alt is obvious :(
Originally by: Vaerah Vahrokha
I am glad to announce that Chribba, in his generosity, has accepted to hold PLEXes and ISK (don't send anything else!) for free.

He will also update the current amounts here.

This is my side of the deal (I won't post his, for mail privacy):


This is a great step to take care of the graft/corruption concerns! But I still think we need CCP onboard in case Chribba gets hit by a bus.


SUCH BLASPHEMY WILL NOT BE TOLERATED! Apologise at once for suggesting his mortality :p

Vaerah Vahrokha
Minmatar
Vahrokh Consulting
Posted - 2011.02.09 18:36:00 - [27]
 

Quote:

This is a great step to take care of the graft/corruption concerns! But I still think we need CCP onboard in case Chribba gets hit by a bus.



This is why I suggested peer funds, exactly to spread the risk.

Grendell
Technologies Unlimited
Posted - 2011.02.09 18:43:00 - [28]
 

Edited by: Grendell on 09/02/2011 18:52:50

If you need a Chribba backup let me know, I'd happily support this type of fund.

EDIT: I'd also hold donations free of charge as this is for a good cause. Projects like this clearly show how amazing the community in eve really is. Kudos to you VV for taking the initiative on this.

EDIT 2:
I will also contact CCP, to see if there is anything I can arrange with them in the event of a hit by a bus scenario for me, so that I can give them the right to remove said donations from the account. It is after all a fairly unique scenario, I'm sure CCP could get some good press for it too.

MailDeadDrop
Rage and Terror
Posted - 2011.02.09 18:50:00 - [29]
 

Originally by: Nienor Jinn
But I still think we need CCP onboard in case Chribba gets hit by a bus.

/me was unaware that CCP had regular bus service in the veldspar belts.

(OK, yes, that was a lame joke. But it's Chribba, and there hadn't been a "lord of the veldspar" joke made in it until now...)

MDD

Chribba
Otherworld Enterprises
Otherworld Empire
Posted - 2011.02.09 19:20:00 - [30]
 

Confirming that VV has spoken to me and I will hold the assets/ISK that gets donated by this drive, and at the time of a CCP relief convert said items/liquids into PLEXes given to CCP to support the cause.

Neither assets or ISK will ever be given to VV regardless of what she says/claims (in the event of things going wrong on her side).

Just make sure donations are tracked with the needed "tags" (for ISK transfers usually).

/c


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