Market Discussions

Does anyone else ever feel like they've read the same exact words before on a previous uncollateralizeds loan request? Like there's some copy and paste template somewhere I don't know about?

I feel like I've read the first paragraph of this thread 4 or 5 times before, almost exactly.

I, for one, feel a lot more comfortable lending isk to borrowers that don't use copy and paste templates. Originality shows more effort, and more effort in your request often translates into more likely a legitimate request, instead of a scam.

Thanks for the feedback Vaerah. I've updated my original post to reflect your suggestions by changing the interest rate to 15% and removing the API keys.

I feel like I should also mention that I only borrowed the headings from another post, not the entire thing, I don't see the problem here. I just wanted to make sure I had all the necessary information for my first loan request.

Interest rates can actually be a bit tricky, because a scammer will list any interest rate. So while a higher interest rate is needed due to the risky nature of investments, higher interest rates make it even more likely you are a scammer.

That means you could make 4b easily within a month or so, probably faster if you put some effort into it (you said you could make it "easily")... so why are you asking for a loan? A month is really not that long, you said your new trader is still in training anyway and it would save you 600m ISK.

Besides, handling 4b on one trader is not that much. So why the need for a second trader in another trade hub (and why Rens, if you already sit in Hek)?

And while we're at it, you are now trading roughly for a year and your NAV is only at 4.4b? Really? When you could "easily" make 600m in 5-6 days (even if that 600m is a figure that's probably meant in view of your more recent history)?

On 2014-03-21 you claimed to be close to 1b and told people how successful you are.
On 2014-05-28 you told people that you lost all your ISK because you were unsuccessful at trading.
Just two days later, on 2014-05-30 you wrote, that you just flipped 2 PLEX... which should have been difficult, considering you told people that "you lost all your ISK" just 2 days prior.

From what you posted it seems that you have a tendency to... let's say... exaggerate certain aspects of your trading success while leaving out some "minor" details that investors might consider to be quite interesting (like you saying in your 2014-03-21 post quoted above, that you intend to PLEX your account with ISK you made ingame - which would explain where all your ISK goes). Unfortunately all this might be seen as detrimental to your credibility... just imho, of course.

I see... guess I need to readjust my sarcasm meter... although it seemed somewhat plausible because you're seemingly missing some ISK in your wallet.

Well, you explained some issues. But the answer to the no. 1 question was insufficient, imho. In your favor I take into account that you waited one year to come to MD to ask for a loan and that all your past postings show a strong interest in trade. However, it could still easily be a part of a long term plan to scam some ISK out of MD without investing too much effort (in some of your older posts you seem to indicate that you log on for just 30 minutes to trade and you already said that you took a longish break - if I were to think that you are a scammer, this information would appear in a new light).

Now let me get to the part where I actually try to be helpful.

My advice is to take your loan request back and earn the ISK yourself... especially if you intend to be an honest trader (say, isn't that an oxymoron?).

Take your time, train your trade skills and grind that rep (or buy it, if you have the ISK). Learn from your experience and grow with your wallet. Don't forget accounting... you can do it in a spreadsheet or use dedicated software. Eventually you'll earn a lot of ISK and change the way you're trading. And with that you'll find yourself in possession of trade qoods you might intend to keep for a while, for example because you speculate on better prices in half a year. This is the time to ask for loan, if you think you need extra ISK... you'll have enough stuff to provide proper collateral and you should have enough experience to know how much interest you can afford (it's less than 10%, unless you are really good or put a lot of effort into it) and how much you should offer (1.8% seems to be acceptable, if the collateral and/or the debtor is good).

When I suggested to make the money on your own and save those 600m, you said you see that as losing a lot. Now try to look beyond that. What is in 6 months, in a year (a month isn't long)? Today you might think a billion is huge. But believe me, it isn't.