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Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.03 23:04:00 -
[1]
★★★ EVE Central Reserve ★★★
Hello folks. The title should give you a good indication of what this thread is going to be about. I've been mulling over what to write in this thread for a while now, and for once I'm going to keep it short.
There's a new bank in town.
Well, a bank, virtual stock exchange, IPO and Bond management service, information center and service provider. But I'm trying to keep things short.
★★★ Another bank? What the ... ★★★
A lot of questions should come up immediately. Who's running the bank? What's it going to do? How will it work? What about security? Etc, etc. Instead of making very long posts here in order to answer all of the standard questions, I'm just going to point everyone to some very long posts that I already made on our website: http://www.evecr.com/. Several pages in the 'About Us' section detail a lot of the information interest people will be looking for, and you don't even have to sign up to access those pages.
Additionally, I'm pleased to announce that the bank will be entering a closed beta test tonight, with invites being sent out shortly after this post to around 30 people. We will then move to an open beta within a couple of weeks, and allow everyone to muck around for a week or so while we finish our setup and go live. Please refrain from making accounts on the site (forums are free reign: http://forum.evecr.com/) if you are not currently in the closed beta, as they will either not work or will be deactivated for the duration of the closed beta.
★★★ We Like Pretty Section Headers ★★★
Everyone is welcome to join the forums (http://forum.evecr.com/), discuss and give us feedback and critical questions there, and also join us in the in-game channel 'EVECR'.
Finally, this thread is for questions, speculation, and discussion concerning this new service, so please, go ahead once you've taken the time to read all of the material publicly available on http://www.evecr.com/. The entire ECR Board of Directors looks forward to working with our future customers and getting some solid feedback on a project that has come a long way in the month or so since we began. |
Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.03 23:05:00 -
[2]
Edited by: Selene D''Celeste on 03/08/2009 23:17:04 A quick addendum. Many numbers are up for some discussion (rates, fees, etc), as well as the direction that various features will be taken in. While this isn't a publicly-owned bank, there is a focus on transparency and cooperation, so feedback from everyone is going to be pretty crucial. |
Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.03 23:07:00 -
[3]
Reserved. |
ECR Tomw
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Posted - 2009.08.03 23:08:00 -
[4]
Signed, I am one of the ECR Directors Will be posting with my main in just a sec to confirm ownership and involvment in this venture.
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tomw
Caldari Reikoku
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Posted - 2009.08.03 23:09:00 -
[5]
Edited by: tomw on 03/08/2009 23:09:40 My Main Has Posted.
As follow up most people will know me as Manager of EOHPOKER. I do the day to day operations there as i will be doing with the bank. I am also one of the 2 coders on the bank project.
So i wait the Comments. _______________________________________________
/me runs through forums naked with pics of david hasselhoff stapled to his nipples.
thats normal right? |
ECR Niraia
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Posted - 2009.08.03 23:17:00 -
[6]
Hi everyone! I'm Niraia's alt, confirming in a sec. |
Niraia
Gallente Clown Punchers Syndicate
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Posted - 2009.08.03 23:18:00 -
[7]
Confirmed.
I'm not sure if anyone around here knows me at all, so hi! I've been working with Selene and Tomw for EOH Poker for a year or so. I'm one of the coders for this project. In my spare time, I like to make people's ships explode.
Looking forward to hearing your feedback :)
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Brock Nelson
Caldari Flux Technologies Inc
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Posted - 2009.08.03 23:26:00 -
[8]
Looking good so far, I'm especially interested in ECR's business service and will be the first in line to take advantage of your Information Standardization service.
I was just curious if ECR will be charging a fee for those services.
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Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.03 23:30:00 -
[9]
Edited by: Selene D''Celeste on 03/08/2009 23:30:08
Originally by: Brock Nelson Looking good so far, I'm especially interested in ECR's business service and will be the first in line to take advantage of your Information Standardization service.
I was just curious if ECR will be charging a fee for those services.
A lot of the information services will probably be free to browse, yes. Discussion on exactly what fees are used for business-side services such as listing on the exchange are currently up for discussion, as a decent balance has to be struck. There are some big future plans for what you mentioned in your post .... but those are some expansions out, so probably not the thing to focus on this minute =) Don't worry, lots of discussion time is planned for all future features as well. |
Brock Nelson
Caldari Flux Technologies Inc
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Posted - 2009.08.03 23:37:00 -
[10]
I wouldn't mind paying a fee to use some of those services or even just to view reports. It'll be one way to reduce the demand to generate interest payment.
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Solisk
Gallente HyperFang Aquisitions And Logistics
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Posted - 2009.08.04 00:38:00 -
[11]
I'm really enthused to see a new bank finally emerging! I had hoped something like that was in the works, MD just felt a little too quiet.
I look forward to trying all of the services this bank has to provide!
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Kazzac Elentria
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Posted - 2009.08.04 00:40:00 -
[12]
"Searchable IPO and Bond Database. All bonds and IPOs listed on the ECR stock market are searchable even after closing or being defaulted. The complete history of transactions, feedback, reports, and other information is available to all ECR users as an informational service to the EVE business community. Eventually ECR hopes to undertake side projects to examine the efforts of EVE players who have compiled old IPO and Bond information, and inforporate that data into our system."
Someone with enough time to make my dream a reality |
Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.04 00:54:00 -
[13]
Originally by: Kazzac Elentria "Searchable IPO and Bond Database. All bonds and IPOs listed on the ECR stock market are searchable even after closing or being defaulted. The complete history of transactions, feedback, reports, and other information is available to all ECR users as an informational service to the EVE business community. Eventually ECR hopes to undertake side projects to examine the efforts of EVE players who have compiled old IPO and Bond information, and inforporate that data into our system."
Someone with enough time to make my dream a reality
We've not actually spoken to anyone who's compiled these lists yet, but it's on the big to-do list. Figured we'd get all the basics up and running and in use first =P But yeah, it needs to happen, and it seems useful to merge it into an actual virtual exchange. I am sure if someone else already has or does set up a fancy deal elsewhere, we could talk integration and validation. Who knows. =D |
Roquezir
Minmatar One Stop Research
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Posted - 2009.08.04 01:22:00 -
[14]
Originally by: Kazzac Elentria "Searchable IPO and Bond Database. All bonds and IPOs listed on the ECR stock market are searchable even after closing or being defaulted. The complete history of transactions, feedback, reports, and other information is available to all ECR users as an informational service to the EVE business community. Eventually ECR hopes to undertake side projects to examine the efforts of EVE players who have compiled old IPO and Bond information, and inforporate that data into our system."
Someone with enough time to make my dream a reality
Nothing new here, folks. EVE-Trade already has this feature as of beta.
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eVaLF
Delivery Luck
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Posted - 2009.08.04 01:31:00 -
[15]
Looks good, waiting to see how the reporting is, and playing with the stock market some. -----
POS FUEL DELIVERY & HIGH & LOW SEC FREIGHTER SERVICES |
Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.08.04 01:40:00 -
[16]
Originally by: Roquezir
Nothing new here, folks. EVE-Trade already has this feature as of beta.
Just to get this out of the way immediately without resorting to trolling:
We had talks with EVE Trade a little over a week ago about integrating the their service with ours as our stock exchange didn't exist a week ago. I was hopeful that our coders could save some work by hooking up to their service. After the coders looked at what was there, we had a long discussion. Basically, since we wanted the stock market to have the same interface as ECR -- that is, be part of the ECR site -- and systems such as accounts and loans were already done, there was practically no new code in EVE Trade's current code (as of a week ago). So, there was absolutely no point in integrating the two, as it would have been more work to integrate, and would have been less secure for us having important database resources hosted somewhere else by someone else. Unfortunately, this decision meant that those integration talks didn't end on the best of terms.
I won't get into functionality comparisons. There's no point in arguing or trolling. ECR's stock market is going to run differently than EVE Trade's, though I don't know for sure how much overlaps. Either way, if there is competition, go for it. Everyone else can decide as they wish once both services are launched and functioning =) |
glas mir
Reaction Scientific
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Posted - 2009.08.04 01:42:00 -
[17]
what is the niche? Can we get an executive summary posted here?
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Roquezir
Minmatar One Stop Research
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Posted - 2009.08.04 02:40:00 -
[18]
Originally by: Selene D'Celeste
Originally by: Roquezir
Nothing new here, folks. EVE-Trade already has this feature as of beta.
Just to get this out of the way immediately without resorting to trolling
No trolling here. Just a simple businessman pointing out an alternative service, as it were, that, in full disclosure, LadyOfWrath and I have assembled.
Quote: Everyone else can decide as they wish once both services are launched and functioning =)
Indeed, it's a free market. An informed public is better equipped to make effective decisions, hence my point.
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SencneS
Rebellion Against Big Irreversible Dinks
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Posted - 2009.08.04 03:29:00 -
[19]
Edited by: SencneS on 04/08/2009 03:32:59 Nice to see EBANKs plans and development placed in another Banks hands LOL
Sorry for the small troll, but I can't help but notice a rather large list of things that are already in place or on the table for implementation at EBANK. Not that its a bad thing. Like I have said many times over EBANK is a testament to the fact that there is too much ISK in EVE, and that EVE needs more Banks.
I noticed this line here - Bank-Level Deposit Cap: The ability to set a cap on how much ISK can be in interest-bearing savings and CoD accounts, per account type and for the bank as a whole.
Care to elaborate on this? The way it reads is you set a limit to say 10b in CoDs and it's whomever gets that 10b in first wins?
Because I see this - 12-Month CoD (3.0%): Unlimited
This is the same as the 3-month term-limit CoD except it has a 12-month term-limit and pays more interest.
And think people would simple invest in the 12-month CoD to fill up the Bank's level and prevent the bank from actually being able to be used for anything else?. Or am I reading this wrong?
I assume you're starting small as the Savings account is 1B limit, I assume you're gambling on the fact people will choose 12month Bond for 3% and not worry about anything else.
Edit:- Spelling error, could have been confusing.
Amarr for Life |
Kaladr
Amarr Viziam
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Posted - 2009.08.04 04:12:00 -
[20]
For the record, EVE Central Reserve has absolutely no relation to EVE-Central.com (despite starting with the same first two words). ---- EVE-Central.com - Your EVE economic and corporate site, featuring the inter-region market browser |
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Sharpclaw
Caldari Precision Collision ISK Six
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Posted - 2009.08.04 05:16:00 -
[21]
Someone has been busy. Nice, clean site.
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Ray McCormack
hirr
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Posted - 2009.08.04 05:23:00 -
[22]
Good luck with the bank.
Some people call me the space cowboy, yeah |
Roric Skogan
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Posted - 2009.08.04 05:57:00 -
[23]
Sorry I am late, I too am on the Director team.
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Vaerah Vahrokha
Minmatar Dark-Rising
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Posted - 2009.08.04 06:58:00 -
[24]
Edited by: Vaerah Vahrokha on 04/08/2009 07:01:52 Commendable idea.
Now, a public statement about the following would be welcome:
- Available POS structures for the lockdown BPO collaterals.
- Due to the current month, liquidity issues may be expected off the possible clients and thus it's possible your institution will be contacted for loans. How large is your self provided capital to front the startup time in case of many loan requests?
- Institution facilities if any?
- Is the loan rate of interest compatible with 110% collateral?
- Is the account rate of interest compatible and appetible, with being a new institution?
Basically a corporate prospectus and strategy beyond the welcome message.
Edit:
I am also interested in details about "Auditor Reports: Basic access to raw API data and some admin controls (view-only) for external auditors." - Auditing and consulting
Before asking for investors, please read http://tinyurl.com/n5ys4h and http://tinyurl.com/lrg4oz
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Mme Pinkerton
Caldari
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Posted - 2009.08.04 07:07:00 -
[25]
Nice to see some movement in the banking sector.
However, I am not too happy with you calling yourself a "central bank", as you do neither have any influence on monetary policy in EVE nor do you have the ressources to act as a lender of last resort - you are just one bank amongst many others. You are arguing that you are as close to a central bank as it is possible in EVE as you focus on setting standards for the financial market (which is (a) not the task of RL central banks but of separate entities concerned with regulation and (b) not enforceable in any way other than posting in MD) and as you have designed your bank with security in mind (however, there is no thing such as "secure" long-term government bonds to back-up loans in EVE, even the market values of hard assets used as collateral can deviate wildly -> e.g. faction ships during the recent weeks). IMHO this mislabeling could create a false sense of security among possible customers.
now the interesting parts from the website:
Originally by: ECR A unique feature of our interest-bearing accounts is that interest is paid out to sweep, and not back into the account itself.
so the effective rate of interest you are paying is lower than that paid by EBANK - nothing wrong with this per se, just wanted to point it out.
Originally by: ECR Loan Headhunting is a method for increasing ECR's loan business, thus allowing more deposits to be accepted into interest-bearing accounts. Headhunters are simply EVE players who find and refer loans to ECR -- anyone can become a headhunter. Loan headhunters do not get paid for the first loan they refer (to prevent self-referral-via-alt loan-rate decrease attempts), but will receive a cut of all interest earned by all following loans they prefer. This means that if a loan headhunter recommended five loans to ECR, the first would not benefit them. However, if two of the following four loans were accepted and active, then that headhunter would receive a cut of the interest from those two loans for every day that those loans are active.
As long as you are only accepting 110% collateral (with low volatility in market prices), this sounds fine. But you should be aware of the risks of moral hazard you are introducing with this method (you cannot really hold the headhunter accountable for "his" loans defaulting and even if no interest is ever paid on the loans, the headhunter would still get two months worth of comission).
A third point: I didn't find any mention of the minimum percentage of deposits you will hold in liquidity to handle withdrawals (and prevent bank-runs) on your website - but maybe I haven't looked hard enough.
" Credit is the economic judgement on the morality of a man. " |
Ambo
I've Got Nothing
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Posted - 2009.08.04 07:35:00 -
[26]
Looks nice.
Unfortunatley, the returns are just way too low to justify the risk imo. 3% for the 'about-as-safe-as-you-can-get' ebank is the lowest I really consider worthwhile.
With this, I can only get 3% if I leave isk there for 12 months and that won't even be compounded. Otherwise, it's just 1.5%. So if I put 10 billion at risk for a month then I'll earn around 150 mil. Not even enough to cover GTC. The fact that I can only put 1 billion in makes it even more pointless.
I'm sure you'll find many who will be happy to throw their isk at you though. Good luck with it. --------------------------------------
Trader? Investor? Just want to track your finances? Check out EMMA |
Drexciyian
The Water Margin
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Posted - 2009.08.04 10:16:00 -
[27]
Edited by: Drexciyian on 04/08/2009 10:16:42
Originally by: Ambo Looks nice.
Unfortunatley, the returns are just way too low to justify the risk imo. 3% for the 'about-as-safe-as-you-can-get' ebank is the lowest I really consider worthwhile.
With this, I can only get 3% if I leave isk there for 12 months and that won't even be compounded. Otherwise, it's just 1.5%. So if I put 10 billion at risk for a month then I'll earn around 150 mil. Not even enough to cover GTC. The fact that I can only put 1 billion in makes it even more pointless.
I'm sure you'll find many who will be happy to throw their isk at you though. Good luck with it.
I pointed this out before and got told they do it because they can due to theres alot of stupid people with alot of money out there
ps
Hi Ho
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eVaLF
Delivery Luck
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Posted - 2009.08.04 10:54:00 -
[28]
Originally by: Roquezir
Originally by: Selene D'Celeste
Originally by: Roquezir
Nothing new here, folks. EVE-Trade already has this feature as of beta.
Just to get this out of the way immediately without resorting to trolling
No trolling here. Just a simple businessman pointing out an alternative service, as it were, that, in full disclosure, LadyOfWrath and I have assembled.
Quote: Everyone else can decide as they wish once both services are launched and functioning =)
Indeed, it's a free market. An informed public is better equipped to make effective decisions, hence my point.
The difference is they are not in your thread advertising another service, no offense but makes you look desperate.
Originally by: SencneS Edited by: SencneS on 04/08/2009 03:32:59 Nice to see EBANKs plans and development placed in another Banks hands LOL
Sorry for the small troll, but I can't help but notice a rather large list of things that are already in place or on the table for implementation at EBANK. Not that its a bad thing. Like I have said many times over EBANK is a testament to the fact that there is too much ISK in EVE, and that EVE needs more Banks.
I noticed this line here - Bank-Level Deposit Cap: The ability to set a cap on how much ISK can be in interest-bearing savings and CoD accounts, per account type and for the bank as a whole.
Care to elaborate on this? The way it reads is you set a limit to say 10b in CoDs and it's whomever gets that 10b in first wins?
Because I see this - 12-Month CoD (3.0%): Unlimited
This is the same as the 3-month term-limit CoD except it has a 12-month term-limit and pays more interest.
And think people would simple invest in the 12-month CoD to fill up the Bank's level and prevent the bank from actually being able to be used for anything else?. Or am I reading this wrong?
I assume you're starting small as the Savings account is 1B limit, I assume you're gambling on the fact people will choose 12month Bond for 3% and not worry about anything else.
Edit:- Spelling error, could have been confusing.
Per the first part :) EBANK has had those plans for how long now and we have yet to see them, over a year now, maybe even going on 2 years. Can't blame another bank for doing it before you. -----
POS FUEL DELIVERY & HIGH & LOW SEC FREIGHTER SERVICES |
ECR Tomw
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Posted - 2009.08.04 11:21:00 -
[29]
Originally by: Vaerah Vahrokha Edited by: Vaerah Vahrokha on 04/08/2009 07:01:52 Now, a public statement about the following would be welcome:
- Available POS structures for the lockdown BPO collaterals.
- Due to the current month, liquidity issues may be expected off the possible clients and thus it's possible your institution will be contacted for loans. How large is your self provided capital to front the startup time in case of many loan requests?
- Institution facilities if any?
- Is the loan rate of interest compatible with 110% collateral?
- Is the account rate of interest compatible and appetible, with being a new institution?
Basically a corporate prospectus and strategy beyond the welcome message.
"
1. Yes POS's will be avaliable for locked down bpo holders. Standings are in place just waiting for the need to have one up. 2. The Starting Capital the directors have put into the bank is quite large. I am not at liberty to say how much but Selene may poke in and say. 3. No clue what this means? 4. Loan intrest rates are computed based on a number of factors and we feel they are the lowest in the market and have the most room for give and take. 5. Our Starting intrest rates on accounts was designed to allow us the ability to function even if we where bringing in 0 Loan intrest.
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ECR Tomw
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Posted - 2009.08.04 11:30:00 -
[30]
Originally by: Ambo Looks nice.
Unfortunatley, the returns are just way too low to justify the risk imo. 3% for the 'about-as-safe-as-you-can-get' ebank is the lowest I really consider worthwhile.
With this, I can only get 3% if I leave isk there for 12 months and that won't even be compounded. Otherwise, it's just 1.5%. So if I put 10 billion at risk for a month then I'll earn around 150 mil. Not even enough to cover GTC. The fact that I can only put 1 billion in makes it even more pointless.
I'm sure you'll find many who will be happy to throw their isk at you though. Good luck with it.
I am not sure where your getting your information but our basic savings account is the excat same intrest rate as EBANK's Checking account 1.5%. We then go on to offer even higher if your willing to leave the isk with us for longer periods of time up to 3.0%. You have no option of that with ebank. If your one of the lucky ones with a 3% savings account with the 3b cap thats good for you as not many people have them out 3% Account has no cap but does have a withdrawl limitation. But since all your intrest is paid directly into your sweep account you have instant access to your profits. So if you really compare us for the general population we do pay higher intrest rates on our accounts.
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