FastLearner
Fury Holdings Brutally Clever Empire
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Posted - 2007.06.22 13:52:00 -
[2]
Originally by: Algorithm 5 I wouldn't say the idea is stupid, just... well... light-weight.
What I don't really see is how he's going to make the amount of income justify the time he'll need to spend.
Loan 100m isk against a Rokh, ok, now he's making 500k or so a day max. Not exactly great money, given the amount of time he had to spend talking to the guy.
And as he says, he's not looking for long-term loans, just short term stuff.
And he's also right that if he's scamming, it's not for much in the way of profit, and he'd be shut down fast.
So I'm afraid I don't see an obvious scam here, but not much of a business model either :)
So in summary... "meh, good luck to you"
Largely sums up my thoughts on it.
I don't think it's a scam attempt - as there's no real profit in it if it is.
Aiming for short-term loans (which is the only ones the model makes sense for) just means a lot of administrative work for tiny profits. And the target market is VERY small, being:
People who:
* Need small loans * Don't have any friends they can borrow small amounts from * Have spare ships lieing around * Read the Eve-O forums * Have the ships in a location where they can't just sell to the market at a fair price (OR have rigs fitted in the ships)
I think the subset of Eve players who meet ALL of those criteria is very small - and, most likely, the only customers you'll get are people wanting to get shot of ships in low-sec (or possibly the other side of high-sec) in a rush (i.e. people who want to sell a ship fast and don't mind getting a bit less than market value).
If the OP wanted to expand a bit (and was up to date on mineral/ore prices) then allowing security vs minerals/ores (at a discount of say 10%-20% to market rates of course) could be a better direction to go in. But that would also be a slightly more risky direction as, if you misjudge things, you could get hit by any slump in mineral prices.
I'm also not convinced that having the interest rate get higher the longer the loan is, is the correct approach - though the likelihood of someone taking out a 1-year loan and actually repaying it is approximately zero (they'd pay back more in interest than it would cost them to just buy a new ship off the market), so it's a pretty moot point.
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