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Thread Statistics | Show CCP posts - 1 post(s) |
cosmoray
Cosmoray Construction
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Posted - 2009.09.10 01:00:00 -
[1]
If anyone is interested in selling their EBANK bank accounts to me read on.
EBANK currently has about 800B in assets, yet requires 2T in assets to pay back all its customers.
EBANK has stated that accounts will probably remain closed for about a year.
Calculations:
1. If EBANK uses its 800B in assets it needs to return 8% per month compounded over the next year to pay you back. At present EBANK earns about 5-7% on their investments per month, meaning that to get the customers money back will take around 20 months.
2. If you take 20% of the account value from me, I will instantly cash you out. To get ALL your money back from 20% you need to earn a return of 14.5% per month over the next year. If you can make a greater return than that you will get your cash back much quicker.
Now, the question you have to ask is:
Do you want to wait a year to MAYBE get your money back, or do you want the cash now and earn it back yourself.
Payout mechanism
1. I will buy blocks of 100M ISK (no odd or lower amounts)from EBANK accounts, up to a maximum of 10B (EBANK account balance) for a fixed payout of 20%
2. The money will be transferred to my account (Cosmoray), and when I see the money transferred I will payout in game. Happy for an auditor to verify my EBANK accounts and post that I have paid out.
3. Post here how much you wish to sell, so it can be tracked
The price I am offering is fixed and MY price. If your are not interested no need to comment on value as there are other EBANK account threads.
If anyone is looking to invest in this type of scheme, send me an eve-mail and I can make up a mechanism or an IPO for this.
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cosmoray
Cosmoray Construction
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Posted - 2009.09.10 04:13:00 -
[2]
 Originally by: Buddy Revelle
Didn't you default on a 100b loan to EBANK? If you buy other ppl's account money won't EBANK just keep it and not let you have it back ?
Firstly I haven't defaulted on ANY loan to anyone. Happy for EBANK to confirm that.
Originally by: Athre
Why dont you make it 50% Cosmo? Its easy money why be so greedy.
Why would I offer 50% for a potential 100% return in 1 year. That only returns me 8% per month and I carry a huge risk.
It all goes on the assumption that you can make 1.2T from 0.8T. Huge ask and my sums say you can't do it in a year.
EBANK haven't put any proposals on the table and I am not willing to risk a huge amount of my capital in an already failed business.
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cosmoray
Cosmoray Construction
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Posted - 2009.09.10 04:27:00 -
[3]
Originally by: Solisk
Originally by: Athre
Why dont you make it 50% Cosmo? Its easy money why be so greedy.
Isn't it a bit improper for the CEO of Ebank to make this comment when someone is trying to buy Ebanks debt? 
cosmoray: Some may feel that 20% is too low, although 50% is definitely too high. Perhaps you'll be open to individual negotiation?
To Ray,
One of your possible solutions is to have the market set a value on accounts, so individuals can buy the debts and release equity for account holders.
Do you really think it is constructive to have EB board members voice their opinions on the subject.
Nice way to set expectations of customers, whether they are real or not.
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cosmoray
Cosmoray Construction
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Posted - 2009.09.10 13:05:00 -
[4]
I think this is a pretty much dead idea.
EBANK staff wants the market to pay customers a value that is higher than the ACTUAL assets in EBANK at present. Nuts!
It is also clear that the market rate is not 20%, and that is what I could afford and set the risk level.
Offer is officially withdrawn, so I won't be buying up ANY accounts in EBANK.
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