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TornSoul
BIG
Libertas Fidelitas
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Posted - 2009.07.02 18:51:00 -
[1]
BTF.BIG-EVE.COM
As of this post the BIG Trust Fund is open to the general public.
It has in fact been operating for the past 4 months already, as it was decided to do an extended "pilot run" before opening it up to the general public.
So what is the BIG Trust Fund excactly?
Basically it's a way for you to pass on a monthly income from production of (valuable) T2 BPO's to friends, perpetually, should you decide to retire as capsuleer.
The front page of the BIG Trust Fund website describes this in tree short paragraphs, just with a bit more embelishment  - Please go have a look.
------
If retirering as a capsuleer, you have a couple of options with regards to your possessions:
1: Do nothing, just leave them (Good thing if you choose to come out of retirement)
2: Liquidate all or parts, and distribute the ISK and none liquidated items among friends.
The BIG Trust Fund offers a 3rd option
3: Keep the most valuable ISK making items (almost by default expensive T2 BPO's) in production with a trusted 3rd party, who takes care of of distributing the profits to designated Beneficiaries each month.
The main advantage of the BIG Trust Fund option is that, over time, it will accrue a greater amount of ISK for the Beneficiaries.
The problem is of course finding that trusted 3rd party.
4 months ago (lets call him) Mr X chose BIG as that trusted 3rd party.
Mr X approaching me about this came totally out of the blue, and was somewhat bittersweet, as it's someone I've personally had other business relationships with over quite a number of years, and I'm quite sad to see him retire.
However once the proposal was made, and the technicalities sorted out (actually before ), the idea took hold with me to expand this to others as well.
Mr X thought it a great idea as well, and I dedicate the idea of the BIG Trust Fund to him.
And as they say, the rest is history - The multiple Beneficiaries Mr X designated has since recieved a generous monthly payout, that easily can keep them playing EVE forever.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.02 18:52:00 -
[2]
I hope you enjoyed the litte writeup about the "birth" of the BIG Trust Fund
I thought it would make the post a bit more interesting than "just another ad" for a service.
One other thing I'd like to mention is that I've been a bit torn between where to post this post... MD or sell forum?
Ultimatly I decided on MD, as I believe that's where most of the BIG Trust Fund's potential "clients" will come from anyhow.
I'd also like to add that I don't expect the BIG Trust Fund to be a roaring monster of monthly ISK payouts (that's not why I'm doing it) - In fact my expectations are something in the order of 0(zero) to 2 new clients a year.
The reason for this low expectation is mainly that it's a very very select few that can actually take advantage of the service in the first place, and of those, most will probably just chose to liquidate.
But for those few who wishes to beget their friends with a nice monthly income - There it is.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.04 16:50:00 -
[3]
@Drab Cabe
Bar every BIG member getting hit by a bus at the same time, there should not be any problems
 Originally by: Ray McCormack
I.B.2 doesn't make any sense, I think you're missing a negative.
I.B.2 in full states : The Beneficiaries shall retain nor carry any rights to the Assets
I don't see a problem with it?
Could you elaborate?
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.07.05 20:04:00 -
[4]
Edited by: TornSoul on 05/07/2009 20:04:38
Based on the feedback here the wording has been changed.
Thanks.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.08.06 19:09:00 -
[5]
Originally by: ShadowandLight
Torn, great service, but may i add a suggestion
instead of keeping it forever, why not something like 12 months
then, provided they give u a secert password that was assigned when they 1st signed up, they get the BPO Back
I think it will get you MORE customers if they feel like one day sometime in the future they will get the BPO back in their possession.
Either way, you rock, BIG rocks... and 
We might expand it to something like that in the future (I'm not ruling it out)
The main reason for not doing it right away is that I the first while would like to keep everything in the spirit of the favor Mr X asked me for.
Ie. his "Can/would you do this for me?" I'd like to keep as close to that simple promise/idea as possible, so that it's truly his last will that unfolds (both with the BPO's he left behind, and with the idea itself)
Secondly - As a personal preference I prefer to keep things as much IC/ingame as at all possible (which rules out the out-of-game hokey-dokey identity stuff for now)
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Originally by: Kalrand
Define abandoned? What if someone unsubs for a few months?
If someone unsubs for a several months without letting us know, they do run the risk of being declared as having abandoned their share.
Roughly quarterly I will check if people are still around, or if I'm simply wasting time and ISK, wiring their share into a black hole.
It's hard to set up a hard rule for this. But we are not in any rush to declare shares abandonded.
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Originally by: Herschel Yamamoto
Also, Torn, I'd say that your proposal would have a lot higher chance of success if you said that the donor kept the nominal ownership of the assets. You're taking 20% of the profits, so even if they take back the asset, you've still been compensated for the time you invested in it.
See my reply to ShadowandLight.
This whole concept has all kinds of possible extensions and add'ons that can be implemented. But for now I'm keeping it simple (see reply to ShadowandLight again)
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Originally by: Elenos
I still don't see how the idea offers anything to people. Once you have left the game you have empowered a 3rd party to look after your stuff and continue to produce from it and distribute the profits to a beneficiary.
Explain to me how other than trusting the OP, the beneficiaries stand to gain anything from this ?
<snip>
If you had unconditional trust to the third party then it makes sense.
Please read about how this whole thing came about in the first place.
It wasn't my idea, but that of a Settlor who came to me.
So... Trust was there from the outset.
If you don't have that trust, the BTF is not for you - Simple as that.
There's really not much else I can add to put your worries at bay I'm afraid.
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Originally by: Teras Menac
How are you managing the work to keep those BPOs producing? Is that what your corp is going to be dedicated to? Is there a limit to your capacity to manage various BPOs?
In the BIG scheme of things it's hardly even a drop in the bucket compared to all the other stuff BIG is involved in.
We have been doing pretty much the same thing for years with the BMBE (but for a limited time at a time - until a loan is paid of), no to mentione the BIG Deal, and various other ventures.
Is there a limit? Theoretically I guess there is, but Practically we are no where near it.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.10.28 22:14:00 -
[6]
The BTF is still active.
(And I just reset the 90 day lock timer )
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.12.11 06:10:00 -
[7]
Time to beat the clock.
Factoid : BTF has so far paid out over 30 billion ISK.
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TornSoul
BIG
Libertas Fidelitas
|
Posted - 2009.12.13 21:54:00 -
[8]
Edited by: TornSoul on 13/12/2009 21:55:26
Originally by: Katiana Swan
it's not your ISK to waste.
Correct.
Quite the contrary - It's my duty *not* to waste the ISK.
The goal is to take ISK that would else wise be wasted (by pouring it into a dead account) and distribute it to the other beneficiaries instead.
If *I* was a Donator that's what I would wan't to see happening.
Giving friend A and B the ISK from friend C should friend C no longer need it (quit the game)
--
The timelimit:
As pointed out above, my reference to the 90 day timelimit in my previous posts was with regards to the forum time limit of when threads get's locked.
I must certainly don't expect all the beneficiaries to keep a close eye on this thread
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