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Erotica 1 Krypteia Operations CODE. 4353	Posted - 2014.03.17 22:27:00 - [1] - Quote It's been an open secret now for a few months that I am seriously considering starting a bank and/or hedge fund. Since I have established a trustworthy reputation, it seems to make sense to leverage that with the new character and banking corp. What I need though are some suggestions. 1. Provide bank api and/or reports from Eve Mogul or something similar? I want to ensure I can protect clients' anonymity who request it and protect trading data, yet I want to provide as much disclosure as possible. Put Chribba or someone else in corp for auditing purposes? 2. For a bank, what sounds like a reasonable interest rate to offer for unsecured deposits of various time periods? I am thinking savings accounts at 0.25% a week, 1/3/6/9/12 month CD's with slightly higher rates for longer time periods. 3. For clients with an appetite for higher risk and hopefully higher return, I would offer a hedge fund. I'm thinking 90 day holding periods with a 14 day minimum withdrawal notification. What would be a good expense ratio to charge? I'm thinking 5% per quarter plus 25% of profits, possibly with a high water mark feature in case of any quarters that have losses. 4. To ease operational burdens of paying out withdrawals, I would operate under a similar "banker" model to other trusted organizations. Bankers would put up some deposit, such as 10b each or use their own funds. Bankers would process withdrawals up to their limit (or using their own funds) and in return collect any withdrawal fees charged to customers. This reduces risk of theft like Somer and others have experienced in the past. 5. What would be a fair referral payout for clients to receive for sending friends to the bank? Maybe first week's interest, or 1% after 90 days, or perhaps a smaller lifetime percentage? I have a lot more ideas but these are the main ones. Long term, I'd like to see my bank exceed deposits of any other bank in EVE's history yet avoid the failures others have experienced. Also, a success of this would make it much easier to launch my dream, which would include bringing index funds (both long and short), options, futures, etc to EVE. Anyway, please offer your suggestions so I can get this launched with the maximum chance of success. Thanks See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Setsune Rin Collapsed Out Shadow Cartel 168	Posted - 2014.03.17 23:04:00 - [2] - Quote definetly offer a secure banking wallet where you back up all deposits with a 100% security in a different wallet its all the rage among bankers i hear!
Erotica 1 Krypteia Operations CODE. 4355	Posted - 2014.03.17 23:13:00 - [3] - Quote I was thinking I would hire a paid board of directors to offer additional security and to vote on important matters. I'm thinking 1b per quarter may be a fair salary for such a role (with stock options possible), and maybe we would have 4 or 5 on the board including myself. Each board member would be provided corp shares and an auditing role for a character to be in corp. That way, if I go missing from EVE for an extended period of time, the board can vote in a replacement CEO to protect the bank and its clients. Also, there may be an IPO for common shares and convertible bonds. I want to ensure there is a firm foundation of capital to support the bank. I may look to the Basel Accords for guidance. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Elizabeth Norn Nornir Research 185	Posted - 2014.03.17 23:15:00 - [4] - Quote :yawn: You're about half a dozen banks too late this year. .
Kate 'on DevonCorp 3	Posted - 2014.03.17 23:24:00 - [5] - Quote Erotica 1 wrote: It's been an open secret now for a few months that I am seriously considering starting a bank and/or hedge fund. Since I have established a trustworthy reputation,... I don't know whether to laugh, or cry. Everytime I see someone talk about trust in here, and financial instruments, it's a mixture of facepalm, and worry that I'm going to read about another article coming out about some poor illiterate who loses $1,000 somehow. I know VV doesn't like how the market threads are pretty dead, but these uncollaterized loans with dilusions of grandeur are probably why no one comes here Tell you what, I'll bite, just answer this to my satisfaction and I'll put a billion in... What mechanic is in place to prevent someone from taking the wallet and biomassing, after a wonderful donation to your main? And for extra points, what could you possibly do with the money that I couldn't do for myself, avoiding having to pay your cut?
Erotica 1 Krypteia Operations CODE. 4356	Posted - 2014.03.17 23:29:00 - [6] - Quote Kate 'on wrote: Erotica 1 wrote: It's been an open secret now for a few months that I am seriously considering starting a bank and/or hedge fund. Since I have established a trustworthy reputation,... I don't know whether to laugh, or cry. Everytime I see someone talk about trust in here, and financial instruments, it's a mixture of facepalm, and worry that I'm going to read about another article coming out about some poor illiterate who loses $1,000 somehow. I know VV doesn't like how the market threads are pretty dead, but these uncollaterized loans with dilusions of grandeur are probably why no one comes here Tell you what, I'll bite, just answer this to my satisfaction and I'll put a billion in... What mechanic is in place to prevent someone from taking the wallet and biomassing, after a wonderful donation to your main? And for extra points, what could you possibly do with the money that I couldn't do for myself, avoiding having to pay your cut? I am considering offering a personal guarantee to help jumpstart the venture as obviously the alt would have no history. The most trusted names in EVE would be offered board seats. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Kate 'on DevonCorp 4	Posted - 2014.03.17 23:45:00 - [7] - Quote Erotica 1 wrote: Kate 'on wrote: Erotica 1 wrote: It's been an open secret now for a few months that I am seriously considering starting a bank and/or hedge fund. Since I have established a trustworthy reputation,... I don't know whether to laugh, or cry. Everytime I see someone talk about trust in here, and financial instruments, it's a mixture of facepalm, and worry that I'm going to read about another article coming out about some poor illiterate who loses $1,000 somehow. I know VV doesn't like how the market threads are pretty dead, but these uncollaterized loans with dilusions of grandeur are probably why no one comes here Tell you what, I'll bite, just answer this to my satisfaction and I'll put a billion in... What mechanic is in place to prevent someone from taking the wallet and biomassing, after a wonderful donation to your main? And for extra points, what could you possibly do with the money that I couldn't do for myself, avoiding having to pay your cut? I am considering offering a personal guarantee to help jumpstart the venture as obviously the alt would have no history. The most trusted names in EVE would be offered board seats. edit I was reading and missed your direct questions. 1. The main mechanic would the the board of directors, plus any good idea we can come up with. The reason I would not steal from the bank is simple. Large ponzis have been done before. I want to do something new. My goal is to create a successful bank that is about 10x the size of Phazer/EVE Bank, actually be honest, and use it to launch additional financial services that have never successfully be done before. Also, I believe after a good show that I will be able to sell my stake for a large multiple of profits, which would be more than I could possibly steal. It's basically at the top of my EVE bucket list. These last few points address what you couldn't do yourself. It's worth the investment just for the show. Yeah, great non answer. Every corp has a CEO with full access. Again, what prevents someone from just walking away with the wallet? I wouldn't mind running a wallet 10x the size of the ponzi scheme you talked about, because like the hundreds of examples in EVE. I would walk away once it became profitable to do so. So because you don't want to, we should invest? Why are you? Why does your word carry any weight? Because you get likes in these forums? What happens when you get bored of it next week? Deside to let the game lapse because you have a job? I don't feel like scamming, can I have 100bn to invest in my venture? When you can lay out a way for a board of directors, made purely out of sociopaths, be unable to take all the ISK and run off, then you have a bank until then, it's a scam, whether you want to admit it or not
Kudos12345 Republic University Minmatar Republic 8	Posted - 2014.03.17 23:55:00 - [8] - Quote Maybe also offer collateralized item loans, basic model would be: Person wants to buy item a , b or c really, The "banker" buys those items and holds them while the client pays it off in installments. So the banker is backed up sort to say in terms of default and there is a premium on this offer popularly referred to as interest. I think this model is more workable than anything else i have heard.
Vera Algaert Republic University Minmatar Republic 1332	Posted - 2014.03.17 23:58:00 - [9] - Quote If only EVE would allow you to take out a mortgage on your characters... then your bank could provide credit to bonus room customers allowing them to take full advantage of the opportunity (instead of being limited by the assets they have at hand). Such a great potential for synergy ruined by CCP's inability to implement a proper mortgage & debt collection process.
Erotica 1 Krypteia Operations CODE. 4359	Posted - 2014.03.18 00:03:00 - [10] - Quote Well I encourage any doubters to Google me. My motivations are not primarily isk, otherwise I wouldn't conduct bonus rounds that sometimes take 5-10 hours for so little possible gain. I'd be better off running missions. The board would not include any sociopaths, I assure you. Look, this won't be for everyone, I understand. I'm looking for open-minded investors and clients who would like to have a front seat to an exciting ride of EVE content creation. If you are afraid this is a scam, then I don't really want your isk as it would be clearly too much for you to risk. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Myriad Blaze Common Sense Ltd Nulli Secunda 175	Posted - 2014.03.18 01:00:00 - [11] - Quote I'm sorry, Ero, but in the game as it is, a bank won't work. And that is regardless whether you intend to scam or not and regardless who you get to support you to bring in trust (unless you get CCP to back you in a way similar to the policy in place for the character bazaar, which is very unlikely). Considering the number of recent "bank" posts I'm tempted to write a longish post and explain it in detail (maybe I'll do it, if I find the time). Basically it won't work because the game leaves no room for the most basic functions of a bank, which is the collection of funds in the form of deposits and the redistribution of these funds in the form of loans. And with no need for a bank you'll have problems with your business model and with risk management. Plus it gets very complex very fast. I really don't want to spoil your fun. But especially if you are serious about this idea I'd suggest to let it be. It's not worth your time and effort.
Far Wanderer Bank of Far 12	Posted - 2014.03.18 01:36:00 - [12] - Quote Erotica 1 wrote: Anyway, please offer your suggestions so I can get this launched with the maximum chance of success. In order to maximize your success, you need to figure out whatever it is about banking that is THE MOST fun, and focus on building a bank around that. The key to banks is realizing they need to keep going even if you check out/lose interest. In this regard you're on to something with your board of directors idea. This might also alleviate the grind factor, which is what leads to loss of interest. Good luck! Don't fly what you can't afford to lose. --Azual Skoll
Erotica 1 Krypteia Operations CODE. 4361	Posted - 2014.03.18 01:40:00 - [13] - Quote A blog/shareholder reports, actual board meetings, investment clubs, investing classes... there are many things I think the bank can offer to make banking and investing fun for both the insiders and the public. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
mynnna GoonWaffe Goonswarm Federation 3109	Posted - 2014.03.18 02:03:00 - [14] - Quote I sure do hope that the people appearing to take this clown seriously are actually ironically taking him seriously. Member of the Goonswarm Economic Warfare Cabal
Erotica 1 Krypteia Operations CODE. 4361	Posted - 2014.03.18 02:20:00 - [15] - Quote mynnna wrote: I sure do hope that the people appearing to take this clown seriously are actually ironically taking him seriously. So you don't want to be on the board? See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Far Wanderer Bank of Far 12	Posted - 2014.03.18 03:09:00 - [16] - Quote Irony, eh? Perhaps Erotica1 should create a contest in parallel with her bank operation, where people bet on whether her bank, once it gets off the ground and running, will fail in say a year or so. To bet, all they do is post in this thread with, "I take your bet. You will fail." If the bank succeeds (no absconding with funds, no failure to make payments, etc.), everyone who bet pays out to Erotica1 a sum equal to all the funds paid by the bank to its clients, because unlike bankers they're trustworthy and will of course keep their word, and then Erotica1 gives all that ISK to her clients. If the bank fails, everyone keeps their ISK and gets to pat themselves on the back for having big brains, because they knew all along that all bankers are really scammers. Or something like that. Don't fly what you can't afford to lose. --Azual Skoll
Erotica 1 Krypteia Operations CODE. 4363	Posted - 2014.03.18 05:54:00 - [17] - Quote Far Wanderer wrote: Irony, eh? Perhaps Erotica1 should create a contest in parallel with her bank operation, where people bet on whether her bank, once it gets off the ground and running, will fail in say a year or so. To bet, all they do is post in this thread with, "I take your bet. You will fail." If the bank succeeds (no absconding with funds, no failure to make payments, etc.), everyone who bet pays out to Erotica1 a sum equal to all the funds paid by the bank to its clients, because unlike bankers they're trustworthy and will of course keep their word, and then Erotica1 gives all that ISK to her clients. If the bank fails, everyone keeps their ISK and gets to pat themselves on the back for having big brains, because they knew all along that all bankers are really scammers. Or something like that. That's a very good idea. EVE-bet or Chribba holding bets sounds good to me. I'm willing to extend the term past one year. This is a long term vision. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Bad Bobby Bring Me Sunshine In Tea We Trust 318	Posted - 2014.03.18 12:26:00 - [18] - Quote I didn't read the thread for fear of catching the stupid, but I'm sure this will all end very well.
RAW23 748	Posted - 2014.03.18 12:31:00 - [19] - Quote mynnna wrote: I sure do hope that the people appearing to take this clown seriously are actually ironically taking him seriously. I suspect that this sadly may not be the case. There are two types of EVE player: those who believe there are two types of EVE player and those who do not.
Cavalira The Greater Goon Clockwork Pineapple 299	Posted - 2014.03.18 12:38:00 - [20] - Quote Surely your reputation doesn't help you in this case. Why would anyone risk their money for 0.25%? Are you going to make money through trading since you're talking about EVE-mogul?
Bad Bobby Bring Me Sunshine In Tea We Trust 318	Posted - 2014.03.18 12:40:00 - [21] - Quote Oh look, I've been selected for the board of directors! "Erotica 1" wrote: 2014.03.18 08:47 EVE Bank Board of Directors Indications of Interest From: Erotica 1 To: Aria Stane, Professor Clio, Daquaris, Iamien, Matias Otero, Eep Eep, Tora Bushido, Scooter McCabe, Bad Bobby, GreatGold, Chribba, Jeronica, The Mittani, Istvaan Shogaatsu, James 315, Darknesss, Psychotic Monk Dear Friends (and others!), As some of you know, I long to start a great financial institution someday to dwarf all those that have come before. Here is my public announcement thread of the general idea: https://forums.eveonline.com/default.aspx?g=posts&m=4356913 Right now I am just in the exploratory stage, mapping out a good course of action to give this venture the greatest chance of success. I am in no rush, but want to reach out to you now. Each of you has been carefully selected as a potential member of the future board of directors. I envision the board to be small but varied in experience and histories. For instance, I would very much like to have at least one politically agnostic third party, such as Chribba. I would also like to have at least a couple representatives from opposing nullsec alliances, as well as some others from highsec and lowsec. Beyond choosing capable people, I want to broadcast a clear message to the general public that the bank is open for everyone. The mail then continues with many paragraphs of other gibberish, which I doubt anyone wants to read, so I've cut it short. RAW23 wrote: Counting up how many people are missing the (not very good) joke is starting to alarm me. I was hoping there would be something funny in all this, but I've yet to locate anything to fit the bill.
Setsune Rin Collapsed Out Shadow Cartel 172	Posted - 2014.03.18 12:41:00 - [22] - Quote mynnna wrote: I sure do hope that the people appearing to take this clown seriously are actually ironically taking him seriously. trolling on a good trollbait topic is fun, poking the 'serious' banks by pointing out their logical fallacies and indirectly calling them stupid is even better i'll take them as they come people like far wanderer posting here thinking any of us are actually serious after we continually fail to troll him out of his own thread is priceless. that guy just refuses to take a hint.
Slade Trillgon Brutor Force Federated 2606	Posted - 2014.03.18 14:14:00 - [23] - Quote Yep. Istvaan Shogaatsu would never steal a thing
Vaerah Vahrokha Vahrokh Consulting 5278	Posted - 2014.03.18 14:19:00 - [24] - Quote I will skip the obvious boilerplate talk about banks in EvE and will get to two points: 1) You dutifully avoided inviting in your possible "board of directors" the three persons who would really have had the means, knowledge and insight to find out irregularities, possible directors "tricks" and much more. To me, this immediately flags as an imprudent venture. Moreover there are some totally fabolous names in that list which I know and appreciate A LOT for their excelling in their own fields. But those names are completely terrible at finance and "practices" around the banking field. Plus you mention names that scream: "this is a troll" at best. Erotica 1 wrote: 3. For clients with an appetite for higher risk and hopefully higher return, I would offer a hedge fund. I'm thinking 90 day holding periods with a 14 day minimum withdrawal notification. What would be a good expense ratio to charge? I'm thinking 5% per quarter plus 25% of profits, possibly with a high water mark feature in case of any quarters that have losses. 2) An hedge fund is not exactly what you prospect. It's neither so short in duration (90 days) nor yields those profits. 90 days reminds of a mutual fund. To make a simple comparison, my 100B fund was mutual, that is with short imposed membership and meant to yield "savings grade" profits. Instead it yelded 4% in 15 days. An hedge fund should yield better than a mutual fund else what's the point? Even considering the performance of my fund too good to be consistent and doable long term, 5% a quarter is low, at this point the focus would need to be put on the "25% of profits" but then you are selling goodwill with nothing firm signed on paper before hand. That'd not work, for an hedge fund you need relatively few, rich participants and they have to stay in, ideally from fund start to end. Good luck convincing rich participants to be happy with 5% a quarter plus goodwill. Auditing \| Collateral holding and insurance \| Consulting \| PLEX for Good Charity Twitter channel
Koniforous Tauren Transit My Other Laboratory is a Distillery 11	Posted - 2014.03.18 15:22:00 - [25] - Quote As soon as I read this I started chuckling. Not at the idea, but how funny it was that you cleverly absorbed so many different policies from so many recent lending and banking start-ups posting on the MD forums as of late. +1 for the brilliant sarcasm 2 questions: Will I be forced to rub mayonnaise all over my chest and send in a pic of this, to open an account? Or will I be required to contract all of my assets and funds over first, as a show of faith? 5% Interest Rate on all investments.-áRead the forum thread here, for more info: https://forums.eveonline.com/default.aspx?g=posts&t=322582&find=unread
Samroski Games Inc. The Night Crew Alliance 449	Posted - 2014.03.18 15:50:00 - [26] - Quote I pledge 20 billion Any colour you like.
Volar Kang Aliastra Gallente Federation 59	Posted - 2014.03.18 16:24:00 - [27] - Quote I would like to borrow 100 billion from your bank. I need it to invest in my isk doubling industry. You can trust me.
Erotica 1 Krypteia Operations CODE. 4372	Posted - 2014.03.18 16:34:00 - [28] - Quote Please do not send isk yet. I'll address each comment and question when I have a bit more time later today. Reserved for part 1 of response. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Erotica 1 Krypteia Operations CODE. 4372	Posted - 2014.03.18 16:35:00 - [29] - Quote Reserved for part 2 of response. See Bio for isk doubling rules. If you didn't read bio, chances are you funded those who did.
Setsune Rin Collapsed Out Shadow Cartel 174	Posted - 2014.03.18 17:44:00 - [30] - Quote Koniforous wrote: As soon as I read this I started chuckling. Not at the idea, but how funny it was that you cleverly absorbed so many different policies from so many recent lending and banking start-ups posting on the MD forums as of late. +1 for the brilliant sarcasm 2 questions: Will I be forced to rub mayonnaise all over my chest and send in a pic of this, to open an account? Or will I be required to contract all of my assets and funds over first, as a show of faith? it's staggering how bad you are at self reflection you are basically doing the exact same thing as erotica here only with some sort of superiority complex what makes him illegitimate and you trustworthy?

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