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Fury Banker
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Posted - 2007.07.16 00:11:00 -
[1]
*Reserved*
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Fury Banker
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Posted - 2007.07.16 00:12:00 -
[2]
*reserved*
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Ulecese
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Posted - 2007.07.16 00:14:00 -
[3]
I will save you the time. Don't bother.
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Fury Banker
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Posted - 2007.07.16 00:18:00 -
[4]
*reserved*
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Fury Banker
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Posted - 2007.07.16 00:19:00 -
[5]
*reserved*
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Jonny 101
Art of War
Cult of War
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Posted - 2007.07.16 00:22:00 -
[6]
But he looks so gosh darn legit! i'd know, i'm pretty gosh darn legit myself!
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Fury Banker
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Posted - 2007.07.16 00:28:00 -
[7]
Edited by: Fury Banker on 16/07/2007 00:32:27
Q: There's plenty of IPOS paying a higher ISK rate than you - so why should I invest in your company?
A: A lot of those don't offer the fast access to funds that Fury Bank offers. If your intention is to invest funds for a long period of time AND you trust the invidual(s) running those IPOs then they ARE a better investment for you than depositing in Fury Bank. There's no question about that. I wouldn't invest in Fury Bank - but then if I couldn't generate more than 1.4% profit per week on capital I wouldn't be running it in the first place.
Q: You don't have any well-known people locking down your assets - so how I do I know you're not just going to keep my money?
A: You don't. I COULD try to find some "well-known" people (i.e. ones with a big e-reputation) to lock-down assorted assets - and yes, that WOULD prevent ME stealing ALL of the company's assets. But it would also open up the possibility of those others stealing the assets. And I have an advantage you don't - I know that I'm trustworthy. So any other arrangement HAS to increase the risk of scamming from my perspective. I'd rather risk losing on potential investors than increase my own susceptibility to being scammed.
Q: What happens if you're run over by a bus etc
A: I suspect very strongly that assets in an online game would be the least of my concerns. If you're concerned about this then don't invest/deposit. I rate the likelihood of me being run over by a bus as less than the likelihood of anyone I give acccess to my assets scamming me. If you don't trust my judgement on this, then don't trust my judgment on anything else - and stay well clear of Fury Bank.
Q: You give the impression you don't care whether I invest in your company or not - is this true?
A: Yes, that is the case. I'm sure you can find people willing to jump through hoops to prove they're trustworthy (while paying you less) - so feel free to watch them jump through the hoops and settle for lower returns. It's no big deal to me.
Q: Why are you starting a bank rather than just issuing more shares in Fury Holdings?
A: My priority when running Fury Holdings has to be to maximise the return to share-holders - that's your job when you run a public company. I see plenty of opportunity to make steady returns in excess of 1.4% a week - but below the profit levels I generate with Fury Holdings. While increasing the total amount of profit (at a decrease in percentage terms) would be in my own interest, it's not in the interest of share-holders in Fury Holdings (unless they intended to buy more shares when they became available). This route increases shareholders' profit (in absolute terms AND as a percentage of investment) so is aligned with their interests while generating more ISK for me.
Q: Why are the rates you charge for loans much higher than the rate you pay on deposits?
A: Not all of the ISK deposited will be in use all the time - I will be aiming to keep 20% or so available at all times to cover withdrawals (and also loan requests). Deposited ISK will not always be able to be immediately put to profitable use. And, of course, this wouldn't be happening at all if it didn't return decent profits for myself and the share-holders.
Q: I'd like to use a T2/Capital BPO for collateral - but I don't want it sitting around uselessly. Is there any way around this?
A: Right now Fury Bank doesn't have the ISK available to give a meaningful loan versus any decent T2/Capital BPO. Once funds become available of a suitable level then means WILL be provided to keep the BPO in use. These would either involved you temporarily joining Fury Bank to begin production/research OR myself running the production/research for you. I have (not on this character of course) the skills for most T2 and capital research/manufacturing. There would, naturally, be additional fees associated with providing this service.
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Fury Banker
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Posted - 2007.07.16 00:33:00 -
[8]
*reserved*
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.07.16 00:35:00 -
[9]
Posting to confirm that Fury Banker is my alt.
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Nyphur
Pillowsoft
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Posted - 2007.07.16 02:16:00 -
[10]
 Originally by: Fury Banker
Q: Why should I trust you?
A: No reason at all
That about sums it up for me.
Eve-Tanking.com - We're sorry, something happened. |
Fury Banker
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Posted - 2007.07.16 15:45:00 -
[11]
Originally by: Nyphur
Originally by: Fury Banker
Q: Why should I trust you?
A: No reason at all
That about sums it up for me.
You're not the target market anyway - as you're capable of making more than 1.4% per week through your own investment. Before I posted all the information here I gave consideration to how the "well-known" people on this forum would respond. I knew that the response would be negative (that much was predictable) and saw it as likely to fall into one of two categories:
1. Dismissive - a few short posts then hope the thread dies peacefully.
2. Attack the details.
I'm obviously prepared for #2 - but if you're going to give me the luxury of #1 (where, when I make my sales pitch tomorrow in the Sell forums I can just say "in the discussion thread, the only criticisms were a few competitors who don't trust me") then thanks in advance.
I was expecting to have to justify the use of shares (with extra admin for depositors), the payment of interest only weekly rather than daily etc etc. Looks like my keyboard's being saved a lot of wear and tear.
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Ionia
Advanced Manufacturing
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Posted - 2007.07.16 18:15:00 -
[12]
Why in the world would you be using shares to distribute interest? this goes against everything logical, creates a huge amount of work, problems, and big headaches for both you and for 'customers'
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FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2007.07.16 18:24:00 -
[13]
Originally by: Ionia
Why in the world would you be using shares to distribute interest? this goes against everything logical, creates a huge amount of work, problems, and big headaches for both you and for 'customers'
About to head off to a pool match, so will have to keep this brief.
It provides an easy way for me to keep track of deposits, for depositors to keep track of their balance and for interest to be calculated and conveyed.
It also allows for me to designate other people as bank tellers (able to cash out deposits) without having to provide them with lists of depositors/balances: person wanting to make the withdrawal transfers shares then receives their 1 million per share without the teller ever having to be provided with any information on depositors.
It also allows for easy risk-free cash-outs without there even being any offical bank tellers - though this is mainly true only within my own alliance. Depositor "sells" the shares at 1 million each to an alliance-mate - hence immediately getting the ISK he needs. The person assisting him can then cash them out as soon as I log in - or wait until the next Friday to do so and collect some interest for their trouble.
Because the shares can be vired as deposit bonds or even as bearer bonds they add a degree of flexibility which wouldn't be present otherwise.
(Excuse me posting with a character other than Fury Banker - but in a rush to get out so not gonna swap accounts).
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jongalt
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Posted - 2007.07.16 20:08:00 -
[14]
lol.
either its a scam or it isnt.
if it is, make it the best scam eve has even seen.
if it isn't, make it the most successful enterprise eve has ever seen.
either way, i hope you succeed spectacularly.
mediocrity is all too common. and i >hope< you arent mediocre...
jongalt.
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Fury Banker
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Posted - 2007.07.17 00:48:00 -
[15]
Originally by: jongalt
lol.
either its a scam or it isnt.
if it is, make it the best scam eve has even seen.
if it isn't, make it the most successful enterprise eve has ever seen.
either way, i hope you succeed spectacularly.
mediocrity is all too common. and i >hope< you arent mediocre...
jongalt.
Thanks for the bump (and I mean that genuinely - th existing "well-known names" would be better served if this just sunk into obscurity.
I've had a few beers (an easy excuse I know) so I won't trouble you with the details of why my system is a bit different to the others (you can wait in line or go without just like anyone else). Christ, typing when drunk is damned hard work :) WARNING: If you don't trust your ISK to someone who has a few beers ooccasionally then I've no doubt there's plenty of Johnny-no-mates around that will pay you next to nothing for little/no risk on their part. Bother them for the details - I'm not at at all interested.
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Fury Banker
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Posted - 2007.07.17 01:12:00 -
[16]
Edited by: Fury Banker on 17/07/2007 01:13:08
Hmm, I've twice written long replies then fked up due to alcohol. So if you want a detailed reply to any query you'll have to wait till til tomorrow (later today actually).
Obviously that gives an edge to any competitors with no social life - but I'm sure I can hanlde any loss of revenue resulting from that (which should, in no way, be taken as diminisshing the validity of any specific issues they raise - unless I tell you otherwise of course).
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Fury Banker
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Posted - 2007.07.17 01:26:00 -
[17]
Originally by: jongalt
lol.
either its a scam or it isnt.
if it is, make it the best scam eve has even seen.
if it isn't, make it the most successful enterprise eve has ever seen.
either way, i hope you succeed spectacularly.
mediocrity is all too common. and i >hope< you arent mediocre...
jongalt.
Nothing mediocre about me (only took me two tries to spell it right).
I've decribed how my system works and (shock, horror!) it actually works that way.
While ANY backing is nice, a no-corp noob backing me doesn't exactly add a lot to my cause. So turn your corp/alliance ticker on, yeah?
If you know me from Planetarion then mentioning my reputation over the years you've know me might help me. If you dont know me in PA or here then your comments have no worth. If I wanted people wioth no background backing me then I have plenty of Alts who could do that - AND i could accurately predict what they'd say. I therofre ask that readers of this forum ignore any backing of myself from no-corp noobies. If I wanted to use alts to back myself I have the basic knowledge needed to ensure they weren't detactable as such - and I belibve they add less than nothing to my credibility.
No offence intended to the individual I quoted - you may well be someone who has decided youd rather remain alliance-less (and I can understand that). I just hope you can appreciate why I'd rather you criticised nmy share offering than backed it.
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Ionia
Advanced Manufacturing
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Posted - 2007.07.17 03:01:00 -
[18]
Originally by: FastLearner
Edited by: FastLearner on 16/07/2007 18:24:51
Originally by: Ionia
Why in the world would you be using shares to distribute interest? this goes against everything logical, creates a huge amount of work, problems, and big headaches for both you and for 'customers'
About to head off to a pool match, so will have to keep this brief.
It provides an easy way for me to keep track of deposits, for depositors to keep track of their balance and for interest to be calculated and conveyed.
It also allows for me to designate other people as bank tellers (able to cash out deposits) without having to provide them with lists of depositors/balances: person wanting to make the withdrawal transfers shares then receives their 1 million per share without the teller ever having to be provided with any information on depositors.
It also allows for easy risk-free cash-outs without there even being any offical bank tellers - though this is mainly true only within my own alliance. Depositor "sells" the shares at 1 million each to an alliance-mate - hence immediately getting the ISK he needs. The person assisting him can then cash them out as soon as I log in - or wait until the next Friday to do so and collect some interest for their trouble.
Because the shares can be viewed as deposit bonds or even as bearer bonds they add a degree of flexibility which wouldn't be present otherwise.
(Excuse me posting with a character other than Fury Banker - but in a rush to get out so not gonna swap accounts).
So in essence its a bond with a low interest rate?
How does someone make a withdrawl if youve loaned the isk out?
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Fury Banker
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Posted - 2007.07.17 12:17:00 -
[19]
Originally by: Ionia
Originally by: FastLearner
Edited by: FastLearner on 16/07/2007 18:24:51
Originally by: Ionia
Why in the world would you be using shares to distribute interest? this goes against everything logical, creates a huge amount of work, problems, and big headaches for both you and for 'customers'
About to head off to a pool match, so will have to keep this brief.
It provides an easy way for me to keep track of deposits, for depositors to keep track of their balance and for interest to be calculated and conveyed.
It also allows for me to designate other people as bank tellers (able to cash out deposits) without having to provide them with lists of depositors/balances: person wanting to make the withdrawal transfers shares then receives their 1 million per share without the teller ever having to be provided with any information on depositors.
It also allows for easy risk-free cash-outs without there even being any offical bank tellers - though this is mainly true only within my own alliance. Depositor "sells" the shares at 1 million each to an alliance-mate - hence immediately getting the ISK he needs. The person assisting him can then cash them out as soon as I log in - or wait until the next Friday to do so and collect some interest for their trouble.
Because the shares can be viewed as deposit bonds or even as bearer bonds they add a degree of flexibility which wouldn't be present otherwise.
(Excuse me posting with a character other than Fury Banker - but in a rush to get out so not gonna swap accounts).
So in essence its a bond with a low interest rate?
How does someone make a withdrawl if youve loaned the isk out?
Fury Bank shares could be viewed as low interest rate bonds with the option to immediately redeem, yes.
If ALL of the ISK was loaned out then obviously I'd be unable to process withdrawals. That's why 20% of all deposits will be kept as cash. The need to maintain a cash reserve to cover withdrawals is why the interest rate has to be lower than for typical bond offers which don't support immediate withdrawal of funds.
My ability to support withdrawals above the 20% limit is provided by a few other factors:
1. Fury Holdings has a pretty fast turn-over of stock. Sales in a typical week are around 4-5 billion ISK. If needed, I can simply delay restocking to cover withdrawals.
2. I can always deposit ISK myself. While I like to spend my own ISK on goodies for my various alts, I do tend to have a bit of ISK lieing around. And, of course, I can always take my weekly management fee in Fury Bank shares rather than in ISK.
While the funds on deposit are small (say, less than 5 billion) I can cover a complete withdrawal of funds pretty easily. As the funds on deposit grow, the rate of withdrawals should smooth out - tending towards a fairly predictable level. That does, of course, assume that deposits will tend to be fairly small and from a number of sources - but the low(ish) interest level doesn't make this an attractive venue for parking huge sums anyway.
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Fury Banker
Fury Bank
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Posted - 2007.07.21 23:43:00 -
[20]
Thought I'd give a quick update on this - mainly to annoy everyone who's steadfastly ignoring this thread in the hope it'll die quietly (so their own inferior offerings can prosper).
I've held off on public advertisement of the bank - as I don't want to get buried in deposit requests which I can't make a profit on. So far deposits total 5.45 billion and there hasn't been a single request for a loan. Obviously most (though not all) deposits have been from people who are in my alliance and/or have known me for years. I expect to hit the 10 billion limit I can currently handle within a week or two. Shares will be issued for another 10 billion when I get near the first 10 - but I'll probably close new deposits for a while until I've properly evaluated some options.
One of the first invesmtents I made was to actually buy a freighter for Fury Holdings. I already have one - but it's in 0.0 95% of the time. With the improvements to Concord there's now very little risk of high-sec ganking, so I've now got a second freighter which will ONLY be used for high-sec hauling (and only ever piloted by a member of an NPC corp). That, alone, saves me 50-100 mill per week i nfreighter fees - which is enough to cover interest payments on teh first 10 bill of deposits. I'm also using some ISK to expand my T2 stocks (with another 2-3 bill investment to come when I open my third selling location) and my mineral stocks (meaning I no longer run on a Just-In-Time basis where any delay can leave production lines dry for a few days).
If YOU have an investment which:
a) Is likely to pay noticably over 1.5% per week
b) Is scam-free - i.e. I retain control over my investment (e.g. the BSAC BPO trustee system)
Then feel free to contact me - I may well have a few (or more than a few) billion ISK to invest. Note that I'm not impressed by forum-whoring - just because someone has written loads of posts on here doesn't mean I'm interested in them somehow "securing" my investment. I have the trust of my investors - and I'm not about to delegate that out based on a post count.
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Ramblin Man
Empyreum
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Posted - 2007.07.22 06:06:00 -
[21]
Edited by: Ramblin Man on 22/07/2007 06:07:28
Free bump, just to show love from the fora *****s.
Edit: This is in no way a recommendation or sponsorship (nor is it a warning or dissuasion [I'm ambivalently not investing]).
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Fury Banker
Fury Bank
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Posted - 2007.07.22 22:23:00 -
[22]
I have now updated the first post in this topic to include the total amount of ISK held in the Bank's wallet to satisfy immediate withdrawal requests. Note that if you make small withdrawals (less than 500 million) it is likely that the ISK will come from a character in Fury Holdings to avoid needing to top up the reserve after processing your withdrawal.
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Mihailo Great
GoonSwarm
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Posted - 2007.07.23 13:52:00 -
[23]
so how big is the space to store my furries?
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Fury Banker
Fury Bank
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Posted - 2007.07.24 01:30:00 -
[24]
Originally by: Mihailo Great
so how big is the space to store my furries?
About this big:
>--------------<
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Fury Banker
Fury Bank
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Posted - 2007.07.26 16:41:00 -
[25]
First week's interest payment has now been dividended (slightly ahead of schedule). Did it slightly early as the ISK was sitting there - and it lets me get on with sorting Fury Holding's weekly accounts plus calculating the weekend's major restock/mineral buying.
Investments made before midnight (in fact, before I get online tomorrow afternoon) will still, of course, receive shares immediately and hence their dividends next week.
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Fury Banker
Fury Bank
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Posted - 2007.07.26 16:56:00 -
[26]
Note also that a Vote to create 20,000 more shares has been initiated. This will allow deposit capacity to be expanded by a further 10 billion. Not all of this capacity will be made available at once - over the weekend I'll assess what I can comfortably use and adjust the available deposit balance accordingly.
If you are a depositor there's no need (or point) to vote. I keep a majority of shares in Fury Bank unused precisely to ensure that I can pass votes such as this.
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Fury Banker
Fury Bank
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Posted - 2007.09.14 14:35:00 -
[27]
Fury Bank is still running - and accepting deposits/offering loans. Currently funds on deposit are slightly over 15 billion, with 3 billion of that held as cash at all times to cover withdrawal requests.
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