FastLearner
Fury Holdings
Brutally Clever Empire
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Posted - 2008.01.04 16:47:00 -
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Edited by: FastLearner on 04/01/2008 16:51:53
 Originally by: Ufl
Edited by: Ufl on 04/01/2008 16:35:04
Originally by: Vedz
I was reading these forums and noticed a lot of people talking about EBANK, but all those people sound like shills. There's always some guy who starts a thread asking about some great feature of EBANK and how it works, and his question is quickly answered by another guy who 'works' at EBANK in a advertising fashion. This is kind of reminiscent of that 700b Ponzi scheme. Some links I found:
http://games.slashdot.org/article.pl?sid=06/08/23/1918246
http://en.wikipedia.org/wiki/Ponzi_scheme
He's right, when I posted about NUEX I was getting replies that were extremely similar in nature but coming from multiple players - who technically COULD all be the same player.
For all we know EBANK's "Board of Directors" could be a bunch of alts and 1 person playing them, maybe 2 friends trying to ready a large scam.
Question is, why doesnt EBANK have 100% of the deposits available for withdrawal? If theres a run on the bank how would it be handled? And if EBANK is not in 100% control of all its deposits, who is, where is it, what is it doing, how is it being used, and how can it be guaranteed that the money will make it back to the depositor?
Vedz post just helped confirm my notion that EBANK has 1 or 2 player who runs multiple characters who front as EBANK workers or representatives or friends.
While it may currently be a "trustworthy" system there are go guarantees as usual.
If you'd been around longer you'd realise that the majority of their directors have long and diverse histories and have been established to the satisfaction of all the regulars on here as being seperate individuals.
Why don't they keep all ISK on hand? Because if they did that, how would they make ISK to pay out interest? If there's a run on the bank they have access at short notice to other funds. If that failed they could offer a short-term bond here and would undoubtedly get it fully subscribed fast.
Obviously it's not a "Guaranteed" system - no Eve financial institution CAN be fully guaranteed. As, no matter how many people are involved, there always exists a finite possibility that they're all scamming. Saying you "guarantee" something doesn't make that true. Claiming you have all the ISK to repay deposits also doesn't make that true.
The only area on which I agree with you (to an extent) is that some of EBank's claims of limiting access by individuals are somehat disengenuous: they discount securities lodged with them (or lodged with their Directors on the back of EBank's reputation) and they don't account for the extra access gained if someone DID scam - as such an individual would obviously take steps to maximise what they could grab before running (e.g. whoever receives deposits claiming a family emergency after an expansion so that deposits built up in their account for a period of time).
I'd suggest you devote more time to establishing your own reputation, rather than worrying too much about EBank's. Despite my previous paragraph they're (from a third-party's perspective) one of the most trustworthy organisations around at the moment. I say from a third-party's perspective - as obviously every legitimate IPO owner KNOWS that they're 100% safe, and hence actually the safest thing around.
EDIT: You should also try to do something about your memory. You already asked the 100% funds available question a while ago - and received clear and detailed answers on how EBank addressed that issue. Now I'm waiting for the comedy "you're an alt of Ricdic" post :)
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