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PostPosted: Wed Dec 21, 2011 11:41 pm 

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User avatarWOW INDUSTRIES
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Ablexel wrote:
ppl not read my post???? lol, i am sayin g no bank system, just creat a trade group bond system which is half price to to put up, take out and repayable tax as well as only being allowed half of you allowed bonds to be these etc, should be alot simpler and allows bonds to be more effective for businesses within families . . . . i propose TRADe GROUP BONDS NOT A BANKING SYSTEM, please read my previous posts, it explains this . . . .


Like Aindala said, this topic is about what? Banking! :roll:

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PostPosted: Thu Dec 22, 2011 12:30 am 

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A trade group bond system is a form of bank, run by players (trade group leaders).

IF the protections in place are sufficient, it would be reasonable to have a player run bank, but it worries me that there will be unanticipated problems.

At the very least, we should start a thread before banks are open to ask everyone to think about ways to abuse the system and "break the bank".


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PostPosted: Thu Dec 22, 2011 12:51 am 
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Professor wrote:
A trade group bond system is a form of bank, run by players (trade group leaders).

IF the protections in place are sufficient, it would be reasonable to have a player run bank, but it worries me that there will be unanticipated problems.

At the very least, we should start a thread before banks are open to ask everyone to think about ways to abuse the system and "break the bank".

I'd say the most developed part of the discussion is in the first half of this thread. The rest is still very green with Savings and Deposits. See this, this and this one. If you have the time to read the thread, please comment. Your feedback is always appreciated.

Several issues arose, in terms of security and abuse.
1. A way to prevent money transfers
2. A way to give lender security
3. Double loaning

1. Solved by having collateral being evaluated at system buyback price.
2. The same as 1.
3. Either a formula (which is already done btw) to take out the value loaned from bonds from mortgages and vice-versa or simply replace the bond system for a system bank with unlimited funds

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PostPosted: Thu Dec 22, 2011 12:59 am 

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When Simunomics was just out, it was much easier to make loans and return them easily. It's different now.

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PostPosted: Sat Feb 04, 2012 9:18 pm 

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Usa Product
?????????
Extremly confused?
Stocks is best idea!


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PostPosted: Sat Feb 04, 2012 9:22 pm 

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Not sure stocks will be the easy money so many of you seem to think it will be. Some people will make money, and some will lose money. It is not likely that anyone will have a great big information advantage that will make it extremely profitable to speculate on stocks.


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PostPosted: Sat Feb 04, 2012 9:33 pm 

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Usa Product
    exactly!! Lol my low advantage will macth


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    PostPosted: Wed Feb 29, 2012 9:07 pm 

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    I still don't know how to get stocks or how they work in Simunomics. Can someone explain?

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    PostPosted: Wed Feb 29, 2012 9:13 pm 
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    User avatarAindala Holdings
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    WOW Industries wrote:
    I still don't know how to get stocks or how they work in Simunomics. Can someone explain?

    Stop invading threads about Banks and go to the Stocks thread.

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    PostPosted: Wed Feb 29, 2012 9:36 pm 

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    Well will you please explain first where the stocks thread is? :confused:

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    PostPosted: Tue Sep 04, 2012 10:32 pm 

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    Saga Industries
     
    I think that banks are not a good idea just yet. Everyone and their dog would like to be a banker, and the biggest problem would be of course... exploiters.

    Now, there is an alternative.

    Investment Bonds can be changed in such a way that the credit rating is based on the previous 2-3 weeks of loan activity, and bonds can be issued in 2-3 categories.

    Relatively safe bonds or rated A or above @ .15% (like the current rate) & .61% for the loan seeker
    Medium bonds rated B - BBB+ @ .25 (these run the risk of being defaulted on) & .80% for the loan seeker
    Junk Bonds rated C and below @ .50 (good return if ever paid back) & 1.5% for the loan seeker

    The system would run the bond sales/loans without disclosing recipients to either party. Maybe the system does both, the initial buying and selling of the bonds, and simply transfer ownership to investors. Collections could also be done automatically by the system if no investors have bought the bond. The investor should then have a choice (or could be automatic) to enforce collection (or collection period) at the end of the investment cycle if the bond has been defaulted on. This feature would sell first the cheapest land slots back to the system, up to the most expensive ones working its way up until the collection has been met. (usually collections are 40-80% of face value, since the collector keeps a good portion of it) The system should be the collector, and bank intermediary generating income in both ends that should help the city's economy.

    A city with more money can afford to employ more people right?

    I know it sounds complicated, but it would be so much easier on the long run since devs wouldn't have to deal with headaches such as banks abused by players. Yet everyone gets to feel the thrill of investing in risky bonds. Of course, loan abusers will end up losing their lands if they default on the loans. IF done this way, the lands sold back to the system are already devalued, and bonds under collection would return back 40-60% of the face value to its investor. This eliminates the potential for abuse, and would be used cautiously by both, the investor and the loan seeker.

    This suggestion would fit right in with my other suggestion about making hubs able to generate cash from city contracts.

    Transportation hub suggestion here: viewtopic.php?f=11&t=215&start=15
    Part of the money earned by the city here could then be used to rent the transportation hub services.


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    PostPosted: Wed Sep 05, 2012 12:38 am 
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    The problem is that people still want to know where the money is going, and actually want to see it coming.

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    PostPosted: Wed Sep 05, 2012 1:43 am 

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    When you invest in a bank in real life, you have no idea where the money is going or where it is coming from. Why should it be any different here?

    Investors only see ratings and return % over risk.

    I am proposing an improvement (change) to the way bonds work, not a way for people to loan money to each other. More like a way for riskier investors to win/lose money and a way to collect defaulted bond loans.


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    PostPosted: Sun Apr 07, 2013 8:01 pm 

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    User avatarThe Drakarian Hedgemony
     
    here's an idea from just reading the original post and no replies

    so im sorry if the idea has been made before

    but what if there was an escrow system, sort of like auctions, where player A, who wants to borrow money, puts his 300ksqft factory up for 12 billion, for 30 days, at 1% interest per day. Player B decides to buy said escrow system, giving player A 12 billion up front and at the end of the 30 days, the loan is paid in full OR player B ends up keeping the 300ksqft building.

    the difference between this and auctions would be that Player A gets to keep using his building, and/or the idea is that the system guarantees he gets it back. I know I would definitely leverage my existing assets if I actually could, because it seems o that the bank thinks I'm only good for 2-3b or so in a given period of 21 days when I make 30x that in a month.

    could do this with research, or products (although they wouldn't be usable) as well.


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    PostPosted: Sun Apr 07, 2013 8:26 pm 

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    Player banks are not allowed by the game now. They were allowed for a short time, as an experiment, but there was a lot of fraud and abuse of the concept of player banks, so the developers decided not to allow any player owned and operated banks.

    One on one deals that don't otherwise violate game rules are allowed, but nothing that involves transfer of cash for nothing other than a future promise to repay. Any loans need to have something of full collateral value (buildings, tickets, or inventory) sold to get cash.


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