Market Discussions

The reason why you are being asked the same question by several different people, is that they look at your offering and think "this doesn't look like a bank".

Launching and running a bank has many intrinsic issues. These issues are compounded by the terrible reputation and performance record of banks in EVE. Given this, it would obviously pay for any unknown that is starting a small project in EVE to avoid calling themselves a bank where possible. Given your project barely qualifies as a bank, if at all, I have to ask why have you chosen to go this route?

When I start asking that kind of question, it naturally leads to others: Are you trying to make life hard for yourself? Did you fall short in doing your research? Have you terribly missjudged your approach? Are you incompetent?

The rate is ill-judged, like the rest of your proposition. You are asking people to loan you money at a rate inferior to that of other opportunities of a similar or lesser risk. As you say yourself, there are other projects they can invest in and those projects offer a far better proposition than yours. You may have justified your rate to yourself but you have not justified it to potential investors... because it is unjustifiable.

The issue here is not so much that you have chosen to make life hard for yourself by using the in-game share system, but that you clearly haven't sufficiently familiarised yourself with the mechanics of that system.

So you're shifting 100% of the risk onto the investor?

I am ensuring the validity of all Shares, present and future, by confirming their deposit value has been received prior to their issuance, just as you receive a receipt AFTER you purchase something.

If you do not trust this method of transaction, you are welcomed to wait and watch as transactions take place in this manner over the next few months, and then decide if it is a pleasing method to you. You are also welcomed to inform the grocery stores you purchase food at that you will pay only after having received a receipt of sale.

Has anyone really been far even as decided to use even go want to do look more i like it?

Bank definition:

"A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses."


So, originally I was attempting to reduce losses by NOT utilizing funds as loans to other entities and simply labeling my service/corp as a Savings Bank. But, maybe you're right in saying that this has led to the community perceiving my "bank" as just an unsecured loan.

As such, I will be amending my policies to allow for the use of bank funds as secure, 3rd party backed, lending capital investments. All current share holders will receive an evemail informing them of this policy update, and this new policy will go into effect April 1st. This will allow for current share holders to withdraw their funds prior to the date of enactment, if they do not agree with this new policy.

I would also like to respond to you, Bad Bobby, and say that I appreciate the detail and time you took to examine and reply to so many things about my post. Most of what you said, however, is primarily opinion and I do not see many question marks. So, I will simply thank you, and hope that you clearly repeat any questions you would like answered in a clear and concise format.

Questions:

1) How many banks in EVE have succeeded in protecting the assets of it's members?

This will involve punishing all your investors if someone won't play ball won't it?

I don't see how, considering Share Holders will be able to withdraw their savings prior to an interest rate reduction, thereby positively contributing to the continued 5% rate for the remaining Share Holders, and allowing for possible turn-over once more Shares become available. Keep in mind that there are no penalties for withdrawals, and I do not foresee any possibilities of this system creating problems. If you do, please posit them.

There is no Share reduction currently in the foreseeable future.

if you ever decide to upgrade to a moral high horse, chat me up. a friend of mine is in the high horse business, he will set you up for a small fee.

I don't see why you don't just give him the shares, which aren't worth anything until you make them worth something, and if he sends you the ISK then you can continue with your bank as normal. If he decides to keep the shares and not send you ISK then all you need to do is create a new corp and try again.