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IBI Manager
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Posted - 2007.06.20 11:37:00 -
[1]
Will fill an a few minutes 
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IBI Manager
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Posted - 2007.06.20 11:37:00 -
[2]
Reserved
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IBI Manager
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Posted - 2007.06.20 11:38:00 -
[3]
Reserved
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IBI Manager
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Posted - 2007.06.20 11:39:00 -
[4]
Reserved
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IBI Manager
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Posted - 2007.06.20 11:39:00 -
[5]
Reserved
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Shar Tegral
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Posted - 2007.06.20 11:54:00 -
[6]
 Originally by: IBI Manager
The people behind the Bank are well known and trustworthy.
This, first, needs to be substantiated.
No other discussion necessary until this happens.
The Eve-Online forums may not have invented whining, but they sure have perfected it.
Shar Tegral> Some pew-pew at doo-doo for free-whee!!!! |
IBI Manager
Interstellar Bank Incorporated
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Posted - 2007.06.20 12:01:00 -
[7]
Originally by: Shar Tegral
Originally by: IBI Manager
The people behind the Bank are well known and trustworthy.
This, first, needs to be substantiated.
No other discussion necessary until this happens.
This is an advertisment, not an discussion thread.
And the owners don't matter realy. You receive the amount of ISK you have provided collateral for. So there is no much need of trust involved.
[LOANS] |
Heikki
Gallente
Wreckless Abandon
Triumvirate.
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Posted - 2007.06.20 12:44:00 -
[8]
Originally by: IBI Manager
This is an advertisment, not an discussion thread
In my version the title for this sub-forum is 'Market Discussions'; perhaps it varies in localised clients or something.
Quote:
And the owners don't matter realy
They matter a bit; your only fundamental difference to regular market is that you offer 'ship-back' option, which is trust based.
That is, to operate you have to offer sub-market value for ships (or you would get scammed by the customers). And hence your reputation is the only thing guaranteeing the customer will get his collateral back.
Naturally it is possible to start from nothing and slowly build the reputation, but not mentioning those 'well known' names behind the thing just leads to unnccessary suspicions.
-Lasse
who could consider such short loans before certain patch days
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Ray McCormack
BIG
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Posted - 2007.06.20 12:44:00 -
[9]
Originally by: IBI Manager
This is an advertisment, not an discussion thread.
Then post it in Sell Orders, not the Market Discussion forum.
| WTS Archons and Nidhoggurs | BMBE ISK Loans | |
FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.06.20 13:24:00 -
[10]
A few questions/points:
1. You need to correct your annual interest rate (the daily rate for annual loans, that is).
2. Where is the admin fee applied? If it's applied at the end then the preceding section stating exactly how much you pay is wrong. If it's removed from the loaned amount then ALL of your figures are wrong.
3. Why are your interest rates higher for longer period loans? That seems a totally contrary and counter-intuitive way to do things. This sort of relates to point 2 - as I get the impression the admin fee was shoe-horned in at the last minute.
4. If I wanted to borrow ISK for more than 2 weeks, why would I go through all the hassle of setting up contracts with you when I could just sell the ship on the market and buy back a new one when I needed it for a lower cost?
5. Do you accept ships in low-sec and/or 0.0 as collateral?
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IBI Manager
Interstellar Bank Incorporated
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Posted - 2007.06.20 13:46:00 -
[11]
Originally by: FastLearner
A few questions/points:
1. You need to correct your annual interest rate (the daily rate for annual loans, that is).
2. Where is the admin fee applied? If it's applied at the end then the preceding section stating exactly how much you pay is wrong. If it's removed from the loaned amount then ALL of your figures are wrong.
3. Why are your interest rates higher for longer period loans? That seems a totally contrary and counter-intuitive way to do things. This sort of relates to point 2 - as I get the impression the admin fee was shoe-horned in at the last minute.
4. If I wanted to borrow ISK for more than 2 weeks, why would I go through all the hassle of setting up contracts with you when I could just sell the ship on the market and buy back a new one when I needed it for a lower cost?
5. Do you accept ships in low-sec and/or 0.0 as collateral?
1. The anual is calcualted as 360 days/year
2. The admin fee is deducted from the ISK given as a loan, after all calculations are done. Exactly as the banks in RL operate. They give you sertan amount, but you have to pay some fees for loan processing and maintenance. And usualy it is deducted from the amount you receive. At least this is situation in my country.
3. First I am more intersted in low amount, short term loans, then contrary. Second, If lets say you borrow 1b, for one year, your ROI robably will be much bigger then borrowed for 1 month. I know, this is not always true, but in most of the cases is.
4. If you don't need the ship, go and sell it. this is the best option for you. If you are going to need the ship in the future, but you are short of couple of millions, give us a call.
5. Lowsec is an option, as I don't plan to move the ships, unless the loans are not returned. Some areas of 0.0 are acceptable, some not. Contact us for more details.
[LOANS] |
IBI Manager
Interstellar Bank Incorporated
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Posted - 2007.06.20 14:00:00 -
[12]
Originally by: Heikki
Quote:
And the owners don't matter realy
They matter a bit; your only fundamental difference to regular market is that you offer 'ship-back' option, which is trust based.
That is, to operate you have to offer sub-market value for ships (or you would get scammed by the customers). And hence your reputation is the only thing guaranteeing the customer will get his collateral back.
I agree, but well, we offer the loans at almost equal to the market values, so even if we scam someone, the loss will be minimal and in a few minutes this thread will be full of "scammers" screams. So what we get is a few ships, bought at a bit lower or equal to the market prices.
Originally by: Heikki
Naturally it is possible to start from nothing and slowly build the reputation, but not mentioning those 'well known' names behind the thing just leads to unnccessary suspicions.
You are very right on this matter. I will be removing this part of the post, as it does not lead to anything. I guess the scam market in EVE is rather big, as everyone talks about scams. Personaly I've never been scammed, so I don't think much about this.
We just want to offer a service to the people and make some ISK of it.
[LOANS] |
Erfnam
Time Cube Syndicate
Legionnaire Services Ltd.
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Posted - 2007.06.20 15:02:00 -
[13]
Why would some one want this type of loan since you are only accepting readily available t1 ships as collateral. For short term loans, would it not be more cost effective for the customer to sell their ship and then buy a new one once they don't need the isk anymore? For short term loans, the price fluctuation of ships is generally not that extreme. For long term loans, even if the ship price spikes it would still be cheaper to purchase the ship when you remove the interest rates on the isk.
FYI, if you don't want discussions, email mods at ccpgames dot com and ask them to move this thread to the sales forum.
Sales: Capital Ships | Covetors Delivered - Bulk/Package/BYOM |
Ionia
Advanced Manufacturing
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Posted - 2007.06.20 15:03:00 -
[14]
1. This is the wrong forum. You're looking for the WTS forum.
2. Why are you using a WTB contract? Use a loan contract. It is what they are there for.
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Shar Tegral
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Posted - 2007.06.20 17:42:00 -
[15]
Originally by: IBI Manager
As we plan to run the bank as a public listed corporation we donĘt want to be associated with any negative activities.
Publicly listed corporation implies that there will be some sort of publicly traded issues. Additionally you also state that collateral is valued in your favor to avoid being scammed citing that people have to trust you. An as of yet unspoken-for alt character. Originally by: IBI Manager
I guess the scam market in EVE is rather big, as everyone talks about scams. Personaly I've never been scammed, so I don't think much about this.
This statement is either disingenuous or utterly naive. I find it highly improbable that you have suddenly become aware of the extremely scam-nature of this market let alone Eve in general. Mind you, so far there is little room for scam as I see it. You are not asking for anything just offering an interesting service. Which is why you should have posted this in Sell Order forums. Of course posting it here will help you to better define and refine what you are presenting from the critical review process. I will say this though: You are an alt of someone. You do not have to disclose who you are but no matter how long you "operate", which is of course another unverifiable activity, trust issues will not be, and can not be, sufficiently resolved. Just thought I'd let you know that now so you are not surprised if you try to do something involving the public at large and your alt non-trustworthiness is pointed out further down the road.
The Eve-Online forums may not have invented whining, but they sure have perfected it.
Shar Tegral> Some pew-pew at doo-doo for free-whee!!!! |
JP Moregain
Gallente
EVE Reserve Bank
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Posted - 2007.06.20 20:13:00 -
[16]
As Erfnam wisely pointed out, what are you accomplishing that 'customers' couldn't otherwise do (better) just by selling the ship and buying a new one later (with no interest carry in between) if they wanted to fly it again...?
Because your business model takes the asset out of use, there is no reason for anyone to do this unless it was some type of unique ship that you couldn't just buy again tomorrow. T-1 ships are a commodity...
To make it worse, they probably have to fly the collateral to you to drop it off?
Why would anyone use this 'service'?
Perhaps you are making a genuine effort here, but from the 'outside' it seems either contrived, or not well though out.
Regards,
JP
http://www.evereserve.com |
IBI Manager
Interstellar Bank Incorporated
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Posted - 2007.06.20 23:25:00 -
[17]
Originally by: JP Moregain
Edited by: JP Moregain on 20/06/2007 21:17:50
As Erfnam wisely pointed out, what are you accomplishing that 'customers' couldn't otherwise do (better) just by selling the ship and buying a new one later (with no interest carry in between) if they wanted to fly it again...?
Because your business model takes the asset out of use, there is no reason for anyone to do this unless it was some type of unique ship that you couldn't just buy again tomorrow. T-1 ships are a commodity...
To make it worse, they probably have to fly the collateral to you to drop it off?
Why would anyone use this 'service'?
Perhaps you are making a genuine effort here, but from the 'outside' it seems either contrived, or not well thought out.
Regards,
JP
First thank you all for even bother looking at my service idea.
JP, well consider this. Before a few days I needed some ISK, like 2 bils. Then i've opened my items window to see what i can sell or something. The amount of junk I have accumulated during the years of playing EVE is enormous. I've find that only the ships cost more then 4b, not to mention all that junk loot, BPCs, implants and whatever. But well, i've decided that hell no, I can't be bothered flying around and setting sell orders for all that junk or refining it and sell the minerals. So i've just asked a freind, to loan me the ISK in exchange of all that junk laying around.
And this is where my idea came from. Me and a few friends gatehred some ISK and decided to offer such kind of service. Not to say, that my first thought was that we are going to own even more junk scattered around. But well, we treid it between a closed group of freinds, we fly with. And it worked realy well, to this extend that we decided to go "in public".
And thanks to you and this forum, we learned some new things.
We would be thankful if you guys help us give a better shape on this idea.
[LOANS] |
Corporati Capitalis
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Posted - 2007.06.20 23:52:00 -
[18]
THIS JUST IN, MORE AT 11:00 - If you refer to yourself/your 1-man corporation in first person, plural form, your credibility rises by 167%! 
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PorcelainJesus
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Posted - 2007.06.21 21:37:00 -
[19]
You and your idea is stupid.
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wictro
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Posted - 2007.06.22 04:10:00 -
[20]
I think the idea is a good one.
Selling gear in haste doesent bring any reasonable isk together.
Think it as a pawn shop more as a bank.
And as you have the ISK, and they have the ship, i think that you are on the upper hand/good situation, as ISK is always instantly useable.
IRL pawnshops are a road to hell, but in games they make the game more realistic and just give you another option.
and to the poster who said "your idea is stupid", care to laborate?
If you dont like the deal, then don't use it.
But if you do, and posses ships that dont have buy order over 80% of sell order value. Then heck, why wouldn't you use it.
Not everyone is in a situation where they have people to loan isk from for free/at all.
I'd love to see more businesses arise in eve. I'd hope for "ingame online stores" and some tools to build battel arenas, events and such like.
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Algorithm 5
Caldari
Hakata Group
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Posted - 2007.06.22 07:22:00 -
[21]
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"
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.06.22 13:52:00 -
[22]
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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Motivated Prophet
Zerodot Schools
Power Corrupts Industry's
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Posted - 2007.06.23 15:58:00 -
[23]
About the only place the business model makes sense is in 0.0, where it can be difficult to sell a battleship, and occasionally impossible to buy one.
MP
--
Proud steward of 47 billion isk in public money, and counting. Ask me about mineral compression! |
haloblack
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Posted - 2007.06.24 02:18:00 -
[24]
Wow.
I was just interested when i saw the topic title.
I understand that all the people asking questions, nay-saying and otherwise acting high brow have a point. But, I find it funny that there is a very good chance that all the people who posted in this thread (including myself) would never NEED to take a load.
Yet, again classic case of those who have no real interest in the topic just posting for the hell of it. If you reread the thread I find it funny that in many cases mud was thrown for the sake of throwing mud. Whole bunch of people who don't have a loan, don't need a loan, aren't warning anyone of against getting a loan or anything even related to the service yet still posting
Ooops game is back up...so i will quit being what i mock.
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YunFu Yan
Yan Enterprises
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Posted - 2007.06.24 09:40:00 -
[25]
This smells...
1st mentioning well known and trusted people behind the venture, then showing absolute unwillingness to name them.
Sorry, but can you act any more suspicious?
Yan Enterprises - We mean business. |
IBI Manager
Interstellar Bank Incorporated
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Posted - 2007.06.25 19:47:00 -
[26]
Originally by: YunFu Yan
This smells...
1st mentioning well known and trusted people behind the venture, then showing absolute unwillingness to name them.
Sorry, but can you act any more suspicious?
No lol. My bad on this.
Anyways like me and the people who reviewed this said, there is almost no way for me to scam the people, so my main's indentity does not realy matter.
[LOANS] |
Highlord Nicolai
Amarr
ironwood ink
The Sundering
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Posted - 2007.06.25 20:21:00 -
[27]
I can see tons of flaws in your system, you will get scammed when someone figures them out aswell.
I myself have been wondering about a business like this, and even tho I got many ideas myself that I ain't gonna share, I'm just gonna tell you right now, you need to rethink alot of this, if you want people to trust you, and to make it scam proof.
We might be able to strike a deal or something, if you are interested in hearing what I have, then convo me in-game, or send me a EvE mail
Other then that, I wish you the best of luck
------------------------------------------------
Kill a man, one is a murderer
Kill a million, a conqueror
Kill them all, a God! |
Kazzac Elentria
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Posted - 2007.06.26 17:39:00 -
[28]
I agree with a previous comment, your target market is far to small to make that much of a profit given the amount of administrative overhead this requires. |
Maxpie
Cross Roads
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Posted - 2007.06.27 21:07:00 -
[29]
I think this is a nice idea, but you are setting yourself at risk since once the interest due rises above the ship value, people will let you keep the collateral rather than pay up. You may wish to add an "enforcement" arm or something.
He put... creatures... in our bodies... to control our minds. He made us... say lies... do things. |
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