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Loan Contracts

Author
Sal Goodman9
SG Capitals
#1 - 2015-01-06 00:39:16 UTC
Hello Council,

I am not sure if this is possible or even practical, but what about implementing a loan contract into game. For example, you create a contract like a courier contract, that secures a loan as well as interest. Allows younger budding traders the option to trade with more capital. Also allows for rich veterans to safely invest in other ventures. I know the implementation of this would be hard because there is no way to secure future isk. It would be cool if it worked as if the loan contract failed, all the money would be returned minus some that is lost. The other player would either go in the negative or have its assets wiped. To keep this as scam free as possible. Maybe make the loan contract create a new wallet division, like a corp wallet. Where the money can not be transfered between characters in order to keep track of it. And the investor can see and track the progress.

Anyways just me writing down my ideas. Would love to see something like this in the future.

Cheers,
Sal Goodman9
ShahFluffers
Ice Fire Warriors
Infinite Pew
#2 - 2015-01-06 19:47:52 UTC
Sal Goodman9 wrote:
Hello Council,

I am not sure if this is possible or even practical, but what about implementing a loan contract into game. For example, you create a contract like a courier contract, that secures a loan as well as interest. Allows younger budding traders the option to trade with more capital. Also allows for rich veterans to safely invest in other ventures. I know the implementation of this would be hard because there is no way to secure future isk. It would be cool if it worked as if the loan contract failed, all the money would be returned minus some that is lost. The other player would either go in the negative or have its assets wiped. To keep this as scam free as possible. Maybe make the loan contract create a new wallet division, like a corp wallet. Where the money can not be transfered between characters in order to keep track of it. And the investor can see and track the progress.

Anyways just me writing down my ideas. Would love to see something like this in the future.

Cheers,
Sal Goodman9

Loan contracts used to exist in EVE but were removed because they were rarely used (because you could just as easily sell the items/stuff you were using as collateral for ISK).

As for the rest of the idea... it would be abused. Easily.

- you can have throwaway alt characters (either on the same account, an alt account, or a friend's account) take out massive loans, buy a whole bunch of assets, and then leave those assets in space for retrieval (which effectively "ends" any paper trail as "transferring" assets in space is mechanically no different than "stealing").

- you can build massive ponzi schemes with multiple alts (loan alt A, which loan to alt B, which loans to alt C, which loans back to alt A and B, which can then loan back to alts A, B, and C, etc) to completely FUBAR any paper trail and get massive amounts of money.
Sylphy
TSOE Po1ice
TSOE Consortium
#3 - 2015-01-08 09:23:26 UTC
Sal Goodman9 wrote:
Hello Council,

I am not sure if this is possible or even practical, but what about implementing a loan contract into game. For example, you create a contract like a courier contract, that secures a loan as well as interest. Allows younger budding traders the option to trade with more capital. Also allows for rich veterans to safely invest in other ventures. I know the implementation of this would be hard because there is no way to secure future isk. It would be cool if it worked as if the loan contract failed, all the money would be returned minus some that is lost. The other player would either go in the negative or have its assets wiped. To keep this as scam free as possible. Maybe make the loan contract create a new wallet division, like a corp wallet. Where the money can not be transfered between characters in order to keep track of it. And the investor can see and track the progress.

Anyways just me writing down my ideas. Would love to see something like this in the future.

Cheers,
Sal Goodman9


Who would you actually borrow money from? NPC's or Players?

So, I make a 30 day char, borrow 3 billion with basically no collateral, buy ships, put them onto a courier contract of my other char for exceedingly low collateral. I fail the shipment and steal it. 30 day char goes bankrupt, I keep ships in rough value of 2.5bil. Repeat the process.

Hell, I can keep creating chars and accounts all year long for that. It's like free ships.

The character does not represent the views/opinions of its Corporation or Alliance.

Dradis Aulmais
Center for Advanced Studies
Gallente Federation
#4 - 2015-01-08 21:02:59 UTC
I would rip this system for all its worth then buy plex to set up another account to do it again

Dradis Aulmais, Federal Attorney Number 54896

Free The Scope Three

Agondray
Avenger Mercenaries
VOID Intergalactic Forces
#5 - 2015-01-09 16:11:27 UTC
loans used to exist but there was no way to grantee any type of payback which was an issue, now all of these banks or loaners or investments you see are 99.9999999% scams.

Note: needs more 9's past the decimal

"Sarcasm is the Recourse of a weak mind." -Dr. Smith

Agent Unknown
School of Applied Knowledge
Caldari State
#6 - 2015-01-09 19:44:17 UTC
The largest problem with loan contracts in a game like EVE is that there's no consequence on defaulting on the loan like in real life. For example, defaulting in real life means a black mark on your credit, collections calls, liens, etc etc.

In EVE, you can laugh in people's faces and walk away and there's no threat of repercussions. This behavior is clear through courier contracts without sufficent collateral as failing the contract literally has no consequence