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Thread Statistics | Show CCP posts - 0 post(s) |
Redbad
Minmatar
Mean Corp
Mean Coalition
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Posted - 2008.11.19 17:13:00 -
[181]
Edited by: Redbad on 19/11/2008 17:14:08
I need the Interest E-Bank pays me to be able to pay the crazy prices for minerals they manipulate. Hahahaha. 
edit: page 7 sniper.
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TheVad
Amarr
Metalworks
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Posted - 2008.11.19 17:28:00 -
[182]
Eve has both ethical and non ethical people and it can be hard to figure out who is which. ItĘs funny that most of us do not hesitate or question taking a cab ride and giving a complete stranger trust with our life. Or how real life credit companies give us credit (based on trust or our track record) and have zero recourse (just like in eve) if we default and /or declare bankruptcy. Some people are just plan pessimistic. I am sure 5 years from now when EBANK is still running, we will have some percentage of people saying itĘs a scam.
This thread has exhausted itself. All sides have given their opinions. Now let the individual decide.
TheVad
Project Manager & Chief Editor| www.eve-bank.net
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EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.11.19 22:07:00 -
[183]
As I said on Page 5 I am happy to enter into any bets using Chribba as a security. Want to bet 1 billion that EBANK won't scam in the next 12 months? 60 months? For those who are 100% certain that EBANK is a scam this is a good bet 
If you don't have the guts to take this bet you shouldn't be stating your own opinion (that EBANK is a scam) as fact. |
Sergeant Spot
Black Eclipse Corp
Band of Brothers
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Posted - 2008.11.19 23:00:00 -
[184]
Edited by: Sergeant Spot on 19/11/2008 23:00:23
I'm still curious, just for comidy reading, what you tell loan applicants who have no clues and no assets......
Play nice while you butcher each other.
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AkRoYeR
Amarr
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Posted - 2008.11.19 23:30:00 -
[185]
Edited by: AkRoYeR on 19/11/2008 23:30:11
 Originally by: Sergeant Spot
Edited by: Sergeant Spot on 19/11/2008 23:00:23
I'm still curious, just for comidy reading, what you tell loan applicants who have no clues and no assets......
They tell them their ISK is insured by BS. |
AkRoYeR
Amarr
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Posted - 2008.11.19 23:31:00 -
[186]
Edited by: AkRoYeR on 19/11/2008 23:31:49
You are an idiot, but other than that I would say your absolutely correct, this is a scam that is being portrayed very well and will end up burning many people, just like the last one. |
Tatianna
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Posted - 2008.11.20 03:07:00 -
[187]
/bump, let's keep this one going to warn noobs away! |
Tac Ginaz
Gallente
Coalition of Nations
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Posted - 2008.11.20 03:27:00 -
[188]
You just need to convince me why I should trust you with a tremendous amount of isk to get 3% back whereas keeping it in my pocket has it 100% secure and the interest I miss out on isn't really something I cannot make in 1 hour in the game.
Even if I had a trillion isk I still do not see the point of it. By then, I dont need more isk.. id be like chribba mining in a dreadnought for the fun of it. :)
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Re-Design Stealth Bomber Weapons! |
mamolian
Madhatters Inc.
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Posted - 2008.11.20 06:49:00 -
[189]
So.. What large entity is using this scam to build their titans?
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Tortun Nahme
Minmatar
Umbra Synergy
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Posted - 2008.11.20 06:51:00 -
[190]
right here yo o/
Fallout thinks im cute!
I think so anyway |
LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.11.20 07:28:00 -
[191]
Originally by: mamolian
So.. What large entity is using this scam to build their titans?
It must be BoB, Shrike needs his titan's replaced. Amirite?
To be serious: None. The argument relies on the fact it's even a scam, which it's not. And to my knowledge we haven't given out any loans for building titans. |
Shadow Lightbringer
Daedal Anomaly
Zzz
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Posted - 2008.11.20 07:38:00 -
[192]
I've technically been an EBank customer since the moment Ricdic came onto the Zzz Alliance chat channel and asked for some people to send some ISK to his bank character to help test out his new banking idea. I sent him a 1000ISK and then forgot all about it.
When I did finally remember, the EBank website had been up and running for a little while and I visited it out of curiosity. To my surprise I found out I had a login, I set my password, and found that my measly little 1000ISK had been there the whole time, accruing interest in a checking account.
To me, that shows a lot about the character of the organization, that they remember the people who threw a tiny amount of money in just to help test their early system. I now have a couple hundred million in EBank right now, and that will soon be growing to over a billion as I now have some addition ISK sitting in my wallet setting idle. In all likelihood, that amount will grow even larger once EBank rolls out their stock market system, which I am very excited about.
I can say without any reservation that I completely trust EBank with every last ISK I drop into it. I am also confident that, if it should ever close, that I will receive all my ISK back because the guys who are behind it are some of the most reputable in EVE. |
Tatianna
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Posted - 2008.11.20 22:41:00 -
[193]
So what is stopping someone from infiltrating this "honorable" scam as you say and taking everyones ISK?
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ramification
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Posted - 2008.11.20 22:55:00 -
[194]
Originally by: Tac Ginaz
You just need to convince me why I should trust you with a tremendous amount of isk to get 3% back whereas keeping it in my pocket has it 100% secure and the interest I miss out on isn't really something I cannot make in 1 hour in the game.
Apparently lots of players in Eve have a lot of spare isk they literally can't find a use for. So they give it to another corp in return for a small monthly stipend they could earn in a couple of hours by some other method.
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Imperius Blackheart
Caldari
KIA Corp
KIA Alliance
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Posted - 2008.11.21 00:13:00 -
[195]
Originally by: ramification
My impression is that you could pay back higher interest, but there's no reason to, as people are willing to invest for less ROI thanks to your reputation as a safe bet. In other words, you're capitalising on your trustworthy image to make more money.
This just in, in a shock move today we are receiving reports that a business plans to make money.
Now to return to our scheduled broadcasting.
Is that a bad thing? As for injected back into the bank, a lot of the profit I imagine goes into ensuring they have security I would imagine as thats the most important thing for any bank (well should be, recent real life events such as lul subprime mortgages are really poor business)
KIA Corp Recruitment Director, mail me for more info. |
EBANK Ricdic
Eve-Tech Savings n Loans
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Posted - 2008.11.21 00:25:00 -
[196]
it isn't quite that high. We are currently meeting an profit margin of about 5.5-6% per month. Our interest obligations are about 2.15%. After salaries and writing down loan defaults we are injecting anywhere from 5-20b into the bank monthly. These are approximations while I holiday on the beach at Fraser Island.
For accurate data see our Annual Report on our news on our site (about the 6th article down)
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Hexxx
Minmatar
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Posted - 2008.11.21 00:50:00 -
[197]
Originally by: ramification
Edited by: ramification on 20/11/2008 23:42:28
Originally by: Tac Ginaz
You just need to convince me why I should trust you with a tremendous amount of isk to get 3% back whereas keeping it in my pocket has it 100% secure and the interest I miss out on isn't really something I cannot make in 1 hour in the game.
Apparently lots of players in Eve have a lot of spare isk they literally can't find a use for. So they give it to another corp in return for a small monthly stipend they could earn in a couple of hours by some other method.
EDIT: just found this on the EBank board:
Originally by: Ricdic
EBANK's goal isn't just to be a financial monolith but to be a successful financial monolith. We have some reports that will come out showing our profitability usually wavers around the 6-10% per month mark so we are meeting obligations however we are also re-injecting capital into the bank which in turn increases that profitability and the long-term success chances of the bank.
So EBank is currently earning ~8% per month on the money in the user accounts on top of what they pay back as interest. Their gross ROI is over 10%. That sounds about what I'd expect to be possible at the trillion-isk investment range.
The 6-10% isn't paid back, it's "reinjected into the bank". Any EBank employees or customers able to define what that actually means? Doesn't that equate to around 100 billion per month? 
My impression is that you could pay back higher interest, but there's no reason to, as people are willing to invest for less ROI thanks to your reputation as a safe bet. In other words, you're capitalising on your trustworthy image to make more money.
It's a business, not a charity. |
ramification
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Posted - 2008.11.21 03:00:00 -
[198]
Edited by: ramification on 21/11/2008 03:02:57
Originally by: EBANK Ricdic
For accurate data see our Annual Report on our news on our site (about the 6th article down)
Ah, got it. Your profits and interest payouts aren't shown on a per monthly basis, but for the 11 month period. As that time encompasses the opening of the bank and all deposits into it, you haven't been either paying interest or recieving ROI for the total over the entire year, but a relatively small proportion. Math hard.
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Hexxx
Minmatar
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Posted - 2008.11.21 04:14:00 -
[199]
Originally by: ramification
Edited by: ramification on 21/11/2008 03:02:57
Originally by: EBANK Ricdic
For accurate data see our Annual Report on our news on our site (about the 6th article down)
Ah, got it. Your profits and interest payouts aren't shown on a per monthly basis, but for the 11 month period. As that time encompasses the opening of the bank and all deposits into it, you haven't been either paying interest or recieving ROI for the total over the entire year, but a relatively small proportion. Math hard.
Math apparently isn't the only thing that's hard.
A quick eve-search will yield a few threads I posted over multiple months showing revenue and costs, broken down across multiple categories in a cash flow statement with accompanying commentary on that given month's growth and relevant activities.
The annual report is a summary of those monthly reports in addition to providing a bigger and wider picture of EBANK's activities.
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SentryRaven
Sentry Security
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Posted - 2008.11.21 10:35:00 -
[200]
Originally by: Tatianna
So what is stopping someone from infiltrating this "honorable" scam as you say and taking everyones ISK?
As stated before, the fact that the ISK lies not with a single person but is spread within multiple Staffers.
If you get in, become a teller or loan officer, you would only have access to small portions of the ISK within EBANK, thus... you can't take everyone's money.... |
Hexxx
Minmatar
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Posted - 2008.11.21 13:03:00 -
[201]
Originally by: SentryRaven
Originally by: Tatianna
So what is stopping someone from infiltrating this "honorable" scam as you say and taking everyones ISK?
As stated before, the fact that the ISK lies not with a single person but is spread within multiple Staffers.
If you get in, become a teller or loan officer, you would only have access to small portions of the ISK within EBANK, thus... you can't take everyone's money....
Expanding on this...
EBANK uses a fractional-reserve Banking model, as do all modern RL Banks. At any time, it has somewhere around 15% of it's value in actual cash. This is spread out over a few people, reducing individual exposure to roughly 5% of total value.
Assuming a single person scammed (and it wasn't Ricdic), your looking at maybe a 5% loss. At the most, 10% or even 15%....and all of that is something the Bank was designed to recover from.
Assets can be liquidated and pre-arranged private loans can be tapped to solve any solvency crisis. Granted, if every single person withdraw at the same time, we'd be sunk....but that's one of the reasons I pushed to have MORE accounts versus LARGER accounts. Having more accounts mitigates the risk of having a run on the Bank.
Most of the Bank's design and controls were done with a risk based mindset. Besides the preventative steps (minimal exposure to funds) and the detective steps (frequent reporting), the operational risk and "scam" risks have been managed to the best of our collective abilities.
By the way, I work for one of the largest accounting firms in the world in RL. |
Tatianna
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Posted - 2008.11.22 01:37:00 -
[202]
You can by no means really compare a "virtual" game to real life. This game is not subject to the penalties and punishment for scams as in the real world. Therefore I still submit that people are only setting themselves up for failure regardless of how "good" this may seem.
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Reediculouhs
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Posted - 2008.11.22 01:41:00 -
[203]
There are so many scams going on in just Jita alone it's almost annoying. How is it that experienced players  with plenty of ISK to spare are suckered into something that at it's forefront seems legitimate, but could end up being the next biggest crime to hit EvE online!
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Astorothe
Aperture Science Industries
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Posted - 2008.11.22 02:15:00 -
[204]
What a fantastic marketing thread - you can't buy this sort of publicity :)
RPGN Gaming Network - Eve News, Gaming News, Forums & Community - Home of Aperture Science Corp [ApSci] |
ramification
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Posted - 2008.11.22 02:17:00 -
[205]
Originally by: Hexxx
Math apparently isn't the only thing that's hard.
A quick eve-search will yield a few threads I posted over multiple months showing revenue and costs, broken down across multiple categories in a cash flow statement with accompanying commentary on that given month's growth and relevant activities.
You'll pleased to hear I'm not actually that interested in EBANK. I'm satisfied to know you're not literally screwing your entire customer base out of a hundred billion a month. But I have low expectations. In any case, I wish you the best of luck in your venture.
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AkRoYeR
Amarr
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Posted - 2008.11.24 04:23:00 -
[206]
Originally by: Astorothe
What a fantastic marketing thread - you can't buy this sort of publicity :)
It's a rather juicy thread, seeing how they are actually justifying people investing in what will become a scam.
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Gamer4liff
Caldari
Deep Core Mining Inc.
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Posted - 2008.11.24 04:38:00 -
[207]
Originally by: AkRoYeR
Originally by: Astorothe
What a fantastic marketing thread - you can't buy this sort of publicity :)
It's a rather juicy thread, seeing how they are actually justifying people investing in what will become a scam.
Have you read the thread? The entire point is that even if it was a scam there is only so much a single person can take. Not to mention in the long term with the salaries the people are drawing in-game it would probably make more money to keep on with it.
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Kylar Renpurs
Dusk Blade
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Posted - 2008.11.24 04:50:00 -
[208]
Quote:
Have you read the thread? The entire point is that even if it was a scam there is only so much a single person can take. Not to mention in the long term with the salaries the people are drawing in-game it would probably make more money to keep on with it.
And on top of that, while the amount of ISK they could scam would be a massive amount to you and me (maybe), for the amount of ISK these guys could earn without EBANK, it just wouldn't be worth the reputation hit.
Improve Market Competition! |
LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.11.24 06:02:00 -
[209]
Originally by: Astorothe
What a fantastic marketing thread - you can't buy this sort of publicity :)
Enough alts and a few trolling classes, sure 
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LaVista Vista
Conservative Shenanigans Party
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Posted - 2008.11.24 06:05:00 -
[210]
Originally by: AkRoYeR
Originally by: Astorothe
What a fantastic marketing thread - you can't buy this sort of publicity :)
It's a rather juicy thread, seeing how they are actually justifying people investing in what will become a scam.
My name is priceless. Offer me 1 trill and I would tell you to **** right off. I might have been tempted if Dr. EyjoG offered me a position inside a true central bank of EVE; but not otherwise .
The point is that it's much more profitable to keep legit. 
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