Market Discussions

I'd say it depends on how much effort you want to put into it.

Your problem is, that your bookkeeping is very flawed. If I read it correctly you pay out dividents based on raw NAV growth plus you don't include items with no immediate market sell value in your NAV which results in billions "magically" disappearing when you buy certain items and reapperaing when you sell them again later. Actually you can't even calculate your real profits that way, which is bad, especially considering that you want to run a "bank".

My advice is to use book values for your items. If you want to keep it simple you could use average book values for items of the same type (1 Machariel bought for 500M plus 1 Machariel bought for 480M results in 2 Machariels with a book value of 490M each). Fees and taxes need to be recorded seperately (for several reasons, transparency among them). That way you can calculate your correct profit/loss when you sell an item, no matter if you sell it via contract, direct trade or the market. Personally I also work with "write-off" for certain situations, which I record seperatly and which is later included in the total figures. You could use this, for example, to reduce the book value of an item if you believe that the book value does not match the market value anymore.

You should keep track of all items you intend to trade anyway, but you don't need to keep track of future possible sell values. That would be coffee grounds reading. When you acquire an item you add this item to your assets and set the book value according to your buy price. Other relevant figures (mostly tax and fees) are recorded seperately (but ideally in the same row as the item itself). In case an item loses a lot of value you write it off (write-down to be more precise). With a write-down you book your loss in several (monthly) steps over time instead of destroying your P&L by taking a massive hit in one month. Remember, as long as you don't sell an item you have neither loss nor profit (in RL this would be slightly different, but mostly for reasons that don't apply in the game plus it would add a layer of complexity that's not worth the effort here, imho).

Also using different formats for different types of income is advisable. For example for PI you would need an accounting structure that takes into account the various ingrediens that go into producing high level materials. Also remember that the materials you harvest yourself are not "free". When I still did PI I sold harvested materials on paper to myself, if I didn't sell it on the market. That way you get the correct book value for harvested materials in order to calculate the profit margins for higher level materials (and from experience I can safely say that it's worth the effort, if you want to max profits). A seperate accounting structure should make it easier to keep track of your stuff, especially in cases were you use materials for different purposes (for example as PI ingredient, industry component or trade item).

Example: You harvest a certain material which you need to produce a tier 2 PI material. You sell it on paper to yourself which gives you the figures for the profit from harvesting and adds the materials to your trade assets. You then sell the tier 1 materials from your trade assets on paper to yourself to produce a tier 2 material, which gives you profit from trading the materials (this step is needed to determine if it's better to trade the item itself or to use it as an ingredient to produce something else - don't forget to include transport costs and production time, if the production facility could be used for something else) and which also gives you the base cost to produce the tier 2 material. Now you sell that item on paper to yourself before selling it again on paper to yourself to be included in your industry production line... you get the idea. Sounds complicated? Sure, but with a spreadsheet you can automate almost everything and this way you get the necessary information to optimize your production processes (when I switched from a vague production process to an optimized process I noticed a significant increase in profits... which was worth the effort for me - especially since I could copy & paste the structure to use it for other production processes as well).

Sorry, just noticed that I got carried away. Maybe my remarks are helpful someway, so I keep them in.

Just to be clear on how share expansions work:

1562 new shares will be created.

Share holders can reserve up to 25% of their current shares. You MUST evemail me stating how many shares you want (or that you want your maximum 25% allowance), and I must receive your isk BEFORE March 1st, 00:00 evetime.

Share holders cannot reserve anymore than 25% of their current shares.

If you want shares and you are:

1. A share holder that wants more than his/her 25% allowance

2. A member of the general public that wishes to purchase some of the new shares

You MUST evemail me ON or AFTER 00:00 evetime March 1st, stating how many shares you want. I will then issue any remaining shares after reserve allowances to those that requested shares, in chronological order. Any evemails sent BEFORE March 1st 00:00 evetime will be considered invalid.

If you simply send your isk to the TAUTX wallet without an evemail hoping to receive some shares, your funds will be returned. If your evemail request for shares is approved you MUST send the required isk to the TAUTX corp wallet BEFORE March 5th 00:00 evetime.

The 5th of every month is an official TAUTX deadline.

NAV Report

Investment Account Liabilities (Shares)

6250mil Currently
6250mil Maximum

Bond Liabilities

3200mil Currently
3200mil Maximum

96mil ROI Currently
96mil ROI Maximum

Overall Liabilities

9546mil Currently
9546mil Maximum

NAV (After Current Liabilities)

~12,134,199,633.20

NAV Change (Profit/Loss)

~526,468,166.69▼

This month's IA return

0.00% (7% bonus return!)

Slow month, lots of RL bull**** to deal with. I am paying out 7% to IA members and an additional 1% to current bond holders this month. Again, this is the last TAUTX dividend payment for at least a few months. Thank you very much to everyone that has trusted me with your isk over the last year, it has been great fun operating TAUTX while being responsible with other pilots' funds. I believe I have accomplished my primary goal of proving myself trust worthy and I am very satisfied with how things have progressed for TAUTX. I hope to be back soon once my family is all settled in!

Bonds have been closed early. Funds are ready and available for all 6250 shares to be withdrawn should you wish to withdraw them. IT IS VERY IMPORTANT that you request a withdrawal first so that I can confirm your share values and set up the withdrawal. There is no transaction history for shares, this is the reason I have called them your receipt of deposit.

Thanks Jeronica! I really didn't expect any clients to come forward. You guys are a dedicated bunch, but oh so quiet. Thanks for posting feedback ;)

Thank you Koniforous for the investment, I confirm that I received my investment within hours of requesting its return.

Looking forward to when operations start again and will be happy to reinvest.

It's a bit late but here I'll add my two cents (pun intended) for you to understand what is the core problem of Eve banks.

There was a time Eve was a great social experiment and there were banks that gave better Online Banking Service than the Real banks in those days. Some of them were honest establishments started with good intentions, they gave good service for a long time.

And then what happened? Life happened. As much as people want to believe otherwise, this is just a game and nobody stays around forever. Your life changes. You get a new job, you get married, you get bankrupt, you get sick and you walk away. Understandable, but in case of the banks, when it comes to dealing with RL event bank owner always choose to walk away with the funds instead of staying around and sorting things out first.

Some do it, because they think hey, "There is thousands of real $ sitting in my account. I need this money for RL, and won't be able to play Eve anyway so lets cash out and go on with life." Some do it, because they have to leave Eve urgent and returning all money to all account holders at once would take a good time , big effort.

Whatever the reason is, life happens and the journey never ends well.

I am not against banks. I think a bank that starts serving it's corp/alliance and organically grows from there has a place in Eve. If you start from there and remain around in 5 years we can talk again. None of us that patient, are we?

Good luck
Priest

I do not believe that is a core problem with the bank, but rather a core problem with the bank owners/admins. I'll point out that TAUTX originally did start out to service the alliance I am in, and grew into a public entity.

I'll also point out that RL has now gotten in the way at least once, forcing a temporary closure, and any requested withdrawals were returned. There is also almost 5bil just sitting in the corp wallet waking to be claimed by account holders should they also request any withdrawals. These funds are never used, they just sit and wait. I think that's pretty impressive and proves that the core problem is not banks, but bad management and bad managers.

TAUTX has been around for more than 1 year already, and since I was considering getting a personal license plate on my truck "TAUTX", the probability that you will be able to invest in 4 years is too damn high.

Good to hear!

I'll evemail you for details.

I have officially announced the opening of my TAUTX: Weekly Lottery Services!

The thread can be found here.

As always, I would appreciate pilots posting feedback (negative or positive) of their dealing with me and TAUTX to assist others with any questions they might have about me or TAUTX.

Thank you!