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Faekurias Black Legion Command Red Dawn Alliance	Posted - 2008.07.18 07:43:00 - [121] I never really got the idea of Ebank, when I send you money for example. What happens next? How do I get something out of it? -----------------------------------
LaVista Vista	Posted - 2008.07.18 07:47:00 - [122] Originally by: Faekurias I never really got the idea of Ebank, when I send you money for example. What happens next? How do I get something out of it? What makes "EBank" is really this: When you send money to "EBank Ricdic", our servers will pick up your deposit from the API. It will then create you an account on our website, www.eve-bank.net, and you can then log in, watch your funds, transfer money to another person, request a loan and other cool stuff! Every day, you are given interest on your accounts. So we give compounded interest.
Faekurias Black Legion Command Red Dawn Alliance	Posted - 2008.07.18 07:48:00 - [123] Sounds pretty cool, will keep an eye on that. Thanks ! -----------------------------------
Astorothe Aperture Science Industries	Posted - 2008.07.18 09:10:00 - [124] The best 3 posts in this entire thread are right above me. RPGN.net Gaming Network - Eve Corp, Gaming News, Music & Web Design - Home of Aperture Science Industries - Please enjoy your detention
YouGotRipped Ewigkeit	Posted - 2008.07.18 09:39:00 - [125] Originally by: Segge Bolled * "Crap" is unfiltered but "***" is. Fancy that. Look Ma, an Alt! I understood your point the first time, I even helped you express yourself but beyond that it's entirely not my problem. Motherships
Hexxx Minmatar	Posted - 2008.07.18 11:47:00 - [126] Originally by: Faekurias Sounds pretty cool, will keep an eye on that. Thanks ! Technically, all it takes is 0.01 isk to open an EBANK account. However, since the interest per day is low, you may want to send 10,000 isk to better get an idea of how the interest scales up. One of our customers actually built a script that can "show you the future" of how the interest would compound over 3 months. Check our general discussion forums for it. http://forums.eve-bank.net/ Director \| www.eve-bank.net
Packtu'sa Nabaal Construction and Industrials Corp	Posted - 2008.07.18 15:10:00 - [127] Originally by: Hexxx One of our customers actually built a script that can "show you the future" of how the interest would compound over 3 months. Wouldn't that be this?: account value = starting value * ((monthly interest ^ (1/30)) ^ number of days passed) It's always best to understand the maths before making an investment. Packtu'sa Founder/CEO, Nabaal Construction and Industrials Corp [NCIC] Simple Planetary Interaction
northwesten Amarr Trinity Corporate Services	Posted - 2008.07.18 16:41:00 - [128] LOVE!!!!! REMEMBER THE FRAKING LOVE!!! Trinity Corporate Services
Rho'varo Diversified Operational Services	Posted - 2008.07.18 17:22:00 - [129] Originally by: Packtu'sa Originally by: Hexxx One of our customers actually built a script that can "show you the future" of how the interest would compound over 3 months. Wouldn't that be this?: account value = starting value * ((monthly interest ^ (1/30)) ^ number of days passed) It's always best to understand the maths before making an investment. It's even easier than that! If you understand the maths before making an investment in EBANK, you'll know that the interest rates are 0.05% daily for a direct deposit account and 0.10% daily for a savings account. So: Account Balance = Initial Balance + (1 + Relevant Daily Interest Rate) ^ Elapsed Days Features & Ideas: Winding Up Learning Skills
Hexxx Minmatar	Posted - 2008.07.18 17:41:00 - [130] Statement has been posted. Director \| www.eve-bank.net
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.07.18 18:07:00 - [131] Originally by: Rho'varo you'll know that the interest rates are 0.05% daily for a direct deposit account and 0.10% daily for a savings account. To get the formula completely accurate it is 0.0505% for Checking and 0.102% for Savings. In case you were wondering why such odd numbers, this is done to ensure that whichever way you calculate monthly interest it was always over 1.5% and 3% (ie 30 days, 30.5 days, or 365/12 days). Director \| www.eve-bank.net
Treelox Amarr Market Jihadist Revolutionary Party	Posted - 2008.07.18 18:42:00 - [132] Originally by: Hexxx Statement has been posted. IMO start a new thread, and Mitnal be dammed. p.s. Mitnal I wub you long time. --
Proton Power Amarr Power Corrupts Tech Axiom Empire	Posted - 2008.07.18 18:50:00 - [133] Vote Results are in - 92.8% of previous share holders feel no wrong doing with me workign with Ebank. 7.2% of previous share holders felt it was not right. Honestly I expected it to be more like 60/40, so as I do feel bad about my recent IPO not doing as I wanted it to do, I am no longer going to worry about it. I do still plan on paying another few bil over time, so don't get rid of your shares. ----------------------------------------------- http://oldforums.eveonline.com/?a=topic&threadID=439797Cli
LuthienTinuviel The Higher Standard	Posted - 2008.07.18 23:24:00 - [134] Originally by: EBANK Ricdic Let me try and explain what I am talking about regarding over-exaggeration. Below is an exerpt from Shar's email to all the other board behind my back: Originally by: LuthienTinuviel As time goes by Ric is reporting less and less of who, what, where, when and/or how. What has me really spooked is not this Bob Guy at all, that's more the straw on the camel's back tbh. It was this 175b self approved loan that he failed to tell anyone about. If your gonna quote posts I made in which I quote shar ricdic please do so properly and remove my name from it thats trying to make it look like shar and me are the same person (intentionally or unintentionally). To clarify I have two characters LuthienTinuviel and ElweSingollo and I am fairly sure if you heard me on Vent it would be hard to mistake my scottish drawl for Shar's american one.
EBANK Ricdic Eve-Tech Savings n Loans	Posted - 2008.07.19 02:09:00 - [135] Sorry about that. I thought i made it clear by saying "below is an exerpt of Shar" etc. Cheers
Mikhalio KIA Corp KIA Alliance	Posted - 2008.07.19 08:07:00 - [136] Edited by: Mikhalio on 19/07/2008 08:09:52 Edited by: Mikhalio on 19/07/2008 08:08:38 Banks, by nature should not take active investments unless their are strict covenants where assets can be repossessed. On a VAR approach I see nothing sane about exposing 33% of your total assets under management to one project, regardless on what your NAV says. Unlike the real world, EvE does not have a lender of last resort. Whoever you have in place for risk management needs to redo his due diligence. In turn, I suspect alot of the drama surrounding ebank will resolve itself. Financial industry analysts often advise banks (commercial or retail) that have excess savings origination, to take advantage of their upside and increase their dividend or savings account rates. As gratitude to the investors and affirm their long term solvency. Entering into new markets that are not related to operating models or value add is often a sign management has lost focus, or is deviating from their fudiciary duties to their clients and shareholders. The fact that ebank requires a new business model (direct production ) to generate new returns with their idle ISK is upsetting as they imply their returns by loan origination and investing at arms length is under duress. Hope my insight helps.
Amarr Citizen 155 Alternative Methods Research Group	Posted - 2008.07.19 08:12:00 - [137] Originally by: Mikhalio Insight How did you come up with your name? It sounds really familiar but I can't seem to place it. Quote: Ricdic (about starting ebank, July 2007): Think of it as a miniature EIB done right. I cannot see this getting anywhere near 700b any time in the future tbh.
EBANK Ricdic Eve-Tech Savings n Loans	Posted - 2008.07.19 09:23:00 - [138] Originally by: Mikhalio The fact that ebank requires a new business model (direct production ) to generate new returns with their idle ISK is upsetting as they imply their returns by loan origination and investing at arms length is under duress. Firstly good post. Regarding the above quoted section Eve is unlike the real world. The Eve financial sectors aren't governed by external parties. No-one but CEO has complete control over an enterprise and with loans there is no way to secure your investment. We cannot repossess our customer's assets if they default, short of what they have already provided us. We can't track down a person who defaults as they can easily sell their character or roll another alt. Therefore our loans are limited to people providing collateral for loans they want, or issuing unsecured loans with no real ability to get those funds back if the person doesn't want to pay. Similar with investments it's difficult to find ways to secure your investment or stopping the person from vanishing etc. Some of these issues can occur in RL however nowhere near as often namely due to characters being easily disposed or simply being untouchable if they default. EBANK previously saw no need to branch into other areas however as demand for accounts increased there simply weren't enough stable investment opportunities. So our only alternate options were to: 1) Take a risk and offer more loans with lower acceptance requirements (less or no collateral) 2) Branch into other stable areas to pursue. In this case we chose the second option obviously. Now, EBANK aren't involved in production and the likes. A subsidiary corporation handles everything however EBANK are fully apprised and have full security on the operation. Think of it not as changing our business model, more that we have 100% ownership in a very high value secured investment.
Retsif	Posted - 2008.07.19 10:18:00 - [139] Originally by: EBANK Ricdic Regarding the above quoted section Eve is unlike the real world. The Eve financial sectors aren't governed by external parties. No-one but CEO has complete control over an enterprise and with loans there is no way to secure your investment. We cannot repossess our customer's assets if they default, short of what they have already provided us. We can't track down a person who defaults as they can easily sell their character or roll another alt. Not so much unlike RL maybe http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&xml=/money/2008/03/26/bcncrisis126.xml
Mr Horizontal Gallente KIA Corp KIA Alliance	Posted - 2008.07.19 11:12:00 - [140] Mikh - Thanks for your interesting post. This is the kind of thing I will have no problem answering, but I kind of feel you answered your own question though. While I would love to keep EBANK entirely asset-less and have it be an entirely virtual entity, without the lender of last resort as you pointed out but also a proper central bank as well, there is no fallback onto anything, so EBANK needs to cover it's ass a lot, lot more than any other bank. Now this isn't an exposure so much, because as we keep reiterating it is not a loan. I am also the first person to kick any idea proposed on the board into orbit whenever someone proposes anything that EBANK should do that's not financial services related (and believe me this happens often!), in this case we've brought in a widely regarded expert in the field (PP), to do this. This is also I will reiterate yet again, not a loan. It is a venture. In other words it is a 100% owned IPO that EBANK owns or a subsidiary, however you want to call it. We just call it a venture for ease of reference. Within this venture, which is also backed up by assets, these assets are commodities which can be liquidated very easily, so in fact in terms of exposure, the bank has actually shored itself up by backing itself up with 33% of it's NAV in something that's not ISK - so in effect this has become in itself a form of a Gold Standard for the bank. And the fact that this venture actually makes a nice tidy income, means that it serves a dual purpose of providing the bank with a commodity to fall back on and an income source. EBANK is very different to RL in that it doesn't and cannot have legal recourse in the event of default. What it can do is mitigate the risks across vertical industries in the economy to diversify it's income streams and thus stabilize it's income. That is the primary focus of what this has done. As we said in our statement, while 33% seems a huge figure, this is actually 33% exposure to an entirely different part of the economy. We are also looking to reduce our exposure from a whopping 80% down to 33% for the Secondary Market, ie loans and stocks and shares. So in fact this new venture is considerably less risky than the loan portfolio, and in turn doesn't earn the bank quite so much, but it's safer. Now I will disagree about banks entering into unrelated operating models. Banks are actually there to support all business, and while they don't do that business themselves, they do choose to invest or support a business that does, and thus they have to by their very nature hedge the exposure of that investment into that particular alien operating model. Now, RL banks actually often invest in buying business with a high cash-earning element, especially if the bank is an investment bank and has no commercial High Street element. I remember Nomura bank actually bought virtually all of the pubs in the UK to do just that: have a strong cash earning basis, and earn money from an entirely different vertical market. And that's exactly what we've done. Director \| www.eve-bank.net
jna Caldari Black Ash Enterprises	Posted - 2008.07.20 02:00:00 - [141] Originally by: Proton Power Vote Results are in - 92.8% of previous share holders feel no wrong doing with me workign with Ebank. 7.2% of previous share holders felt it was not right. Honestly I expected it to be more like 60/40, so as I do feel bad about my recent IPO not doing as I wanted it to do, I am no longer going to worry about it. I do still plan on paying another few bil over time, so don't get rid of your shares. I'm not a shareholder in PCT and I have a pittance in EBANK. But I'm seriously confused - as an outsider. Everyone has told us repeatedly (in the locked thread) that there is no connection between the (failed) PCT offering and your new role at EBANK. So why, may I ask, are PCT shareholders voting on this? Why do old-PCT shareholders' opinions mattter? Personally I think you can have it either one way or another. Either there's a connection between (failed) PCT stock and your new role at EBANK (in which case their ex-PCT shareholder opinion matters, which as you said was a foregone conclusion, and why you're posting this vote info here), or there is not a connection between (failed) PCT and EBANK, in which case why does this "foregone-conclusion-voting-info" matter in the slightest, to anyone...? ------------------------------------------------- Caeleste naves interretis res gravissimas sunt
Lo Lightshard Insurrection Inc HUZZAH FEDERATION	Posted - 2008.07.21 02:39:00 - [142] On the point of needing to diversify away from loans to reduce risk ... unless you have a low number of high value loans then aren't loans well diversified by their very nature (i.e. spread across many businesses)? They're also low risk if you require collateral? I can understand moving away from loans because you've hit the limit of reasonable quality loans available but not for reasons of diversification and risk reduction (unless by risk reduction you mean keeping loan quality high). [IMA6E REMOVED]
Lo Lightshard Insurrection Inc HUZZAH FEDERATION	Posted - 2008.07.21 02:42:00 - [143] Originally by: Proton Power Vote Results are in - 92.8% of previous share holders feel no wrong doing with me workign with Ebank. 7.2% of previous share holders felt it was not right. Honestly I expected it to be more like 60/40, so as I do feel bad about my recent IPO not doing as I wanted it to do, I am no longer going to worry about it. I do still plan on paying another few bil over time, so don't get rid of your shares. Would you be closer to your expectation if you stripped out all the votes by EBank directors and associates? [IMA6E REMOVED]
PuncherDavis	Posted - 2008.07.21 03:59:00 - [144] I can see it as a place to get loans.. Cant see it as a place to invest and get interest get far more from just basic trading.. Follow the first rule of eve.. (1) Trust nobody its a game and getting screwed is what EVE allows and it can and will happen at any time for any reason with or without your consent. (2) IF you need a loan to do it then read (1) above and no whining allowed.. (3) Truth is if your patent and vigalant u can make very good isk in eve with a buddy or two but read one above.. Carry on nothing to see here invest at your own risk.. IF you lose it all gambling or EBANK never gives any back no whining allowed as you took a risk that didnt pay off.. Whatever drama is going on at ebank is just normal drama in eve..just be well read and very aware of what you are doing before you do it.. Have a good day this is a recording of basic things of what is EVE
cosmoray Cosmoray Construction	Posted - 2008.07.21 04:17:00 - [145] EBank has never really been a bank. It has always been an IPO. A safer IPO than most other IPO's. Seeing as they are not a bank how they invest their money is up to them, as long as they can meet interest payments and have enough capital on hand to pay out withdrawal requests. Also to make ISK for their owners.
Hexxx Minmatar	Posted - 2008.07.21 04:36:00 - [146] Originally by: cosmoray EBank has never really been a bank. It has always been an IPO. A safer IPO than most other IPO's. Seeing as they are not a bank how they invest their money is up to them, as long as they can meet interest payments and have enough capital on hand to pay out withdrawal requests. Also to make ISK for their owners. Incorrect. Director \| www.eve-bank.net
Hexxx Minmatar	Posted - 2008.07.21 04:39:00 - [147] Originally by: PuncherDavis I can see it as a place to get loans.. Cant see it as a place to invest and get interest get far more from just basic trading.. Follow the first rule of eve.. (1) Trust nobody its a game and getting screwed is what EVE allows and it can and will happen at any time for any reason with or without your consent. (2) IF you need a loan to do it then read (1) above and no whining allowed.. (3) Truth is if your patent and vigalant u can make very good isk in eve with a buddy or two but read one above.. Carry on nothing to see here invest at your own risk.. IF you lose it all gambling or EBANK never gives any back no whining allowed as you took a risk that didnt pay off.. Whatever drama is going on at ebank is just normal drama in eve..just be well read and very aware of what you are doing before you do it.. Have a good day this is a recording of basic things of what is EVE We've processed over 1.9 trillion in deposits and nearly 900 billion in withdraws. I would say a couple of people have gotten their money back. Director \| www.eve-bank.net
PuncherDavis	Posted - 2008.07.21 05:15:00 - [148] They may have but u cant argue with those three rules :)
Ricdics Corporate Placement Holding	Posted - 2008.07.21 05:48:00 - [149] Originally by: PuncherDavis They may have but u cant argue with those three rules :) If you followed the first rule to a tee you wouldn't be in a corporation with anyone but yourself and you wouldn't PvP with a gang. Trust is fine as long as you understand there are no CCP endorsed securities so it's your responsibility to ensure you put your trust in the right people. Getting burnt from time to time is inevitable but playing Eve trusting no-one would make for a very boring game.
mr darkhelmet	Posted - 2008.07.21 05:50:00 - [150] Originally by: PuncherDavis They may have but u cant argue with those three rules :) He just did.

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