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Bushar's Banking Services - A brainstorming session
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Mr Bushar
Doomheim
#1 - 2012-07-23 20:55:48 UTC  |  Edited by: Mr Bushar
FAIR WARNING: All trolling replies will be immediately reported and flagged

Hello again MD Forums,

Now that my bond is closed, I am trying to come up with several other services that will become available once all debts have been repaid (near mid-august).
I am going to throw some ideas around and I would like to get some feedback as to whether some of you would be interested.

This is merely a brainstorming thread, I will create a brand new thread for any subsequent bond runs or services that I offer


Flexible Compound Instruments: The first service I am considering is providing flexible compounding instruments.
How will this work?
You would have an account which you would deposit funds to. This account would accrue interest on a daily basis (eg: 0.2 to 0.5% per day, with a slightly higher rate to my premium investors). This account would be compounding, which means that you would be earning interest on your interest every day.
This account would have the option of being a FlexAccount: Interest would be slightly lower, but you could withdraw your full funds at any time.

Bushar's Line of Credit: A component I am considering adding to my bonds.
Sometimes you need some liquid isk for your day to day activities, but you do not want a full repayment.
I would offer you a line of credit equal to 10% of your principal investment (15% for premium investors) that you could pull at any time, and it would be interest-free.

More ideas will be added in subsequent posts, and I would like to get the community to brainstorm useful services.
Mr Bushar
Doomheim
#2 - 2012-07-23 21:00:38 UTC
Bushar's QuickSell Retailing Services:
Instead of trying to sell your ships for days on end, I would buy them from you by issuing a payable.
You will be paid in 30 days at the fair value of the assets (an amount we agree upon) plus 5 to 10%.
This would allow investors who do not have many liquid funds to let me take care of their selling activities for them while also earning some interest.
Tanith YarnDemon
Hypernet Inc.
Umbrella Chemical Inc
#3 - 2012-07-23 21:29:51 UTC
So, just to make sure I get this right.

People send you x, you promise x*(1.002 to 1.005)^days, and they may then borrow 0.1x from you?
Would you still get interest of the full amount even though there's only 0.9x left in your pocket? If so why would not everyone just take a line of credit and reinvest it?

And are you saying you can't withdraw other than 100% or 10%?

While not related to your op, anyone know of any possible investments in the popcorn sector?
Mr Bushar
Doomheim
#4 - 2012-07-23 21:34:25 UTC  |  Edited by: Mr Bushar
Tanith YarnDemon wrote:
So, just to make sure I get this right.

People send you x, you promise x*(1.002 to 1.005)^days, and they may then borrow 0.1x from you?
Would you still get interest of the full amount even though there's only 0.9x left in your pocket? If so why would not everyone just take a line of credit and reinvest it?

And are you saying you can't withdraw other than 100% or 10%?

While not related to your op, anyone know of any possible investments in the popcorn sector?


The interest would compound daily on your account's balance, yes. You can withdraw any amount that is in your account at any time, and only the amount that is still in your account would accrue interest.

The 10-15% loan on principal is not related to the compounding interest account, but rather a different service
If you have both the compounding interest account and the 10% line of credit account, then sure, you could take 10% interest free and re-invest it.

Before you make a full withdrawal, however, or receive a full repayment, the amount in your line of credit would have to be repaid. Otherwise, it would be automatically deducted from your account balance in the day of full payment.

EDIT: To answer your question as to why not everyone will take 0.1x and re-invest it: I don't doubt that many people will. That's why it's a service/benefit/incentive/whatever you want to call it. The primary benefit to small-time investors, though, is having some liquidity without having to withdraw funds that are accruing interest
Mme Pinkerton
#5 - 2012-07-23 21:59:56 UTC
I think it would do both your credibility in these forums and the development of your plans good if you could post a short summary of your research so far.

What are good features & ideas which you'd like to copy from similar services?
What were shortcomings & failures of said services that you would try to avoid?

An IPO guide (David H'Levi) | Towards a Positive Argument For Investing (RAW23) | Freighter Operations 101 (Kazuo Ishiguro) | Dominion market analysis (Akita T)
Mr Bushar
Doomheim
#6 - 2012-07-23 23:33:20 UTC
Mme Pinkerton wrote:
I think it would do both your credibility in these forums and the development of your plans good if you could post a short summary of your research so far.

What are good features & ideas which you'd like to copy from similar services?
What were shortcomings & failures of said services that you would try to avoid?



Great questions and I'll have a write-up for you either tonight or tomorrow night.
It will also lead into my potential hedge fund services with options and forward contracts
Rykker Bow
Center for Advanced Studies
#7 - 2012-07-24 00:06:18 UTC
I too am interested in seeing how you plan on avoiding the pitfalls and dangers of a player owned bank in this game where none have succeeded so far and indeed have failed catastrophically.

The Mjolnir Bloc - Lowsec PvP for the sophisticated - The Mjolnir Bloc Killboards
corestwo
Goonfleet Investment Banking
#8 - 2012-07-24 00:18:28 UTC  |  Edited by: corestwo
Rykker Bow wrote:
I too am interested in seeing how you plan on avoiding the pitfalls and dangers of a player owned bank in this game where none have succeeded so far and indeed have failed catastrophically.


Note to bushar: While you've made it perfectly clear that you're willing to attempt to use the forum moderators to silence any sort of dissent of negative response by labeling it as "trolling", this should not be taken as such or as a troll. It's a legitimate concern to anyone who is curious about your little business here.

This post was crafted by a member of the GoonSwarm Federation Economic Cabal, the foremost authority on Eve: Online economics and gameplay.

fofofo
Mr Bushar
Doomheim
#9 - 2012-07-24 00:57:45 UTC
corestwo wrote:
Rykker Bow wrote:
I too am interested in seeing how you plan on avoiding the pitfalls and dangers of a player owned bank in this game where none have succeeded so far and indeed have failed catastrophically.


Note to bushar: While you've made it perfectly clear that you're willing to attempt to use the forum moderators to silence any sort of dissent of negative response by labeling it as "trolling", this should not be taken as such or as a troll. It's a legitimate concern to anyone who is curious about your little business here.


Do not mistake negative criticism for trolling :)

I love negative criticism and debates
I welcome as much as possible of it as it would help improve the final product when I launch my services next month or two.

What I don't welcome is creating 4 replies an hour about me faking screenshots and scamming innocent investors and my evil plots. This thread isn't about me, it's about market service ideas =)
David Forge
GameOn Inc.
#10 - 2012-07-24 01:51:47 UTC  |  Edited by: David Forge
Mr Bushar wrote:
What I don't welcome is creating 4 replies an hour about me faking screenshots and scamming innocent investors and my evil plots.


That wouldn't be trolling if it appeared plausible. And in your case, it did.
Pipa Porto
#11 - 2012-07-24 01:53:03 UTC
Rykker Bow wrote:
I too am interested in seeing how you plan on avoiding the pitfalls and dangers of a player owned bank in this game where none have succeeded so far and indeed have failed catastrophically.


I think that most of the Player run banks have succeeded spectacularly. Of course, I'm talking about success for a different class of people than you.

So, @OP, since you didn't bother addressing the concern, how are you going to secure your Bank for its customers?

EvE: Everyone vs Everyone

-RubyPorto
Havoc Zealot
Ministry of War
Amarr Empire
#12 - 2012-07-24 05:47:05 UTC
New too MD but I support this venture
Caelis Boirelle
Aurora Investments
#13 - 2012-07-24 09:07:31 UTC
I'm genuinely struggling to make my mind up about you. I can't decide if you're attempting to have an enormous laugh at everyone else's expense, or you're genuinely trying to make an honest buck but just trying a little too hard. Regardless ever since you've appeared in the MD you've been nothing but arrogant, outright condescending and frankly comical. Not ideal investment material.

And not that I particularly care but this is not a flame or a troll as the impression a potential investor has of a potential investee and the degree to which they feel they are trustworthy vastly outweighs any grand or otherwise scheme you can concoct. I'm simply giving you a frank response as one of the former. Personally I'd recommend you focus on this and your current as of yet unfinished bond before asking people for more money.

That aside, with respect to your flexible interest ideas, people are going to want proof (more than just screenshots of 'genuine' spreadsheets) that you can maintain your promised interest rates while ring fencing enough capital aside from what you use to trade in order to facilitate people withdrawing from their accounts.

Because if not, you've just got yourself a ponzi scheme.

And that's before you get to the myriad of pitfalls out there that have brought down manys a player bank before you.

Aurora Investments is looking for an alliance to call home
Block Ukx
420 Enterprises.
#14 - 2012-07-24 11:28:34 UTC
Mr Bushar wrote:

Flexible Compound Instruments: The first service I am considering is providing flexible compounding instruments.
How will this work?
You would have an account which you would deposit funds to. This account would accrue interest on a daily basis....



Research! Research! Research! You need to do your research.

Apart from BMBE, banks in eve have very bad reputation. There are tons of issues regarding compound interest rates, scalability, trust, and income ceilings that must be addressed before starting a new bank.

You haven’t finished your first investment and now you are proposing a bank. Not the smartest move.



BBANK©
Aina Sasaki
Garoun Investment Bank
Gallente Federation
#15 - 2012-07-24 19:19:48 UTC
Tanith YarnDemon wrote:
While not related to your op, anyone know of any possible investments in the popcorn sector?


I am hoping to get a monopoly in the popcorn business. If I can manage that, I suspect I will make a disgusting amount of money. :)

OT: Honestly i'd hold off on this. As others have said, banks in this game don't exactly have a good reputation due to their effective lack of accountability and tendency to devolve into massive scams. As novel as the idea is to have some kind of banking system, you may be better off focusing your efforts elsewhere towards something more likely to be successful.

- Rei
Pipa Porto
#16 - 2012-07-24 19:28:22 UTC
Tendency to be a Scam?

Has there been a significant Bank that didn't end up being a Scam?

EvE: Everyone vs Everyone

-RubyPorto
Max Wager
Native Freshfood
Minmatar Republic
#17 - 2012-07-24 20:21:48 UTC
Pipa Porto wrote:
Tendency to be a Scam?

Has there been a significant Bank that didn't end up being a Scam?


No. Not in EVE or the real world.
Barakach
Caldari Provisions
Caldari State
#18 - 2012-07-26 00:39:43 UTC
I tossed around a similar idea on MD in the past, but I came to the conclusion that short of a way to automate withdraws, it isn't scalable.

I would say, just go the route of an IPO.
Drago Wolfbane Skorvalk
Great Black Hole of Eve
#19 - 2012-07-26 02:28:12 UTC  |  Edited by: Drago Wolfbane Skorvalk
The mere fact you are mentioning starting a bank has completely solidified that you are in fact just a con artist/ scammer in my mind.

If you are such a great trader why not just trade to your Trillions of isk?

Compounding your stated monthly returns will have you there in no time flat.....Why I am sure you could even supply us with a spreadsheet showing the returns already!! lol
Vexx Dmor
Trans Suns Mining
#20 - 2012-07-26 05:02:14 UTC  |  Edited by: Vexx Dmor
Not withstanding the issues of credibility Mr Bushar presents with little operating history, unsecured and unregulated offerings. It has got me wondering if an over-the-counter market (EVE-OTC) could be established. This would require market-makers to support IPO's that they bring public (like it's done in the real world), and in general provide liquidity and a potential trading environment for investors in general. Since MM's execute trades between themselves and the public, this may be a venue that is supportable by the game mechanics. -- lol seems like a lot of work --

In the US, the NASD (National Association of Securities Dealers) is self regulated and there could be a similar organization here, comprised of factions, which perhaps could use game mechanics like wardecs on facilities / groups, fines, etc. to provide the equivalent of NASD / SEC oversight. Another needed role would be too provide a resemblance of secured capital investment by market makers (MM), via putting up their facilities (or isk) as collateral to this governing body, to support the market maker activity. Also needed is an Escrow / Transfer agent bank to manage / support the accounting.

Alternately forward contracts and futures trading might be possible. I'm wondering if the early rice markets might be a good place to gather information. No fancy computers and it was a very active market.

Food for thought..
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