Bank, anyone?

[Sourikus]

249k

I have two outstanding trades... I need 350k more ;_; stupid donis

Where's a bank when you need a loan

I wish there was a bank.

I currently have about 25k.

Just a show of hands... would you like to see some sort of central bank in the near future?

And... would you use it if there was a collateral system of sorts?

Sponsors

Spoiler

Blazen749

Problems

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What if the user suddenly goes on hiatus and doesn't pay the loan back? -MysticDawn

Suggestions

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I think the only way a bank could work here is if it were automated, not user-run. User-run leaves far too much room for errors and problems.-Tekla

Update #1:

Me to Blazen:

Okay!

I was thinking of somehow having a banking function which would allow users to deposit money, and then from that pool others can take a loan

In this way it's not so much a bank but a community pool of money. (And, of course you have to return the money! Or else it'd just shrink)

However, I then brought up the possibility of charging interest, and banking services. Then it kind of became a lot more complicated.

Also, there is the question of where to put everything, and whether to request collateral?

[CacklingHyena]

I totally agree! 60 coins a post just isn't cutting it. A Bank would be great, especially if they had interest

[TheAxolotlKnows]

Eyy a bank sounds cool! I totally need a place to get loans from.

[Jeh]

I totally agree! 60 coins a post just isn't cutting it. A Bank would be great, especially if they had interest

How would they earn money to pay interest? I am relatively new, but I do not see a way for a banker to make money on deposits to be able to pay out interest.
Of course, I may have overlooked something.

[Sochitelya]

Is it that time of year again already?

For newer players, the concept of a bank has been brought up multiple times before and it's never worked out. Mostly because it caused a whole lot of drama.

[MysticDawn]

I have to agree with Jeh. Even though I "wished" there was a bank, doesn't mean it really is going to work out. Interest is a factor and so is getting it started. What if the user suddenly goes on hiatus and doesn't pay the loan back? There are other issues too, but as of now, I would have to say "nah".

[Merkwerkee]

I totally agree! 60 coins a post just isn't cutting it. A Bank would be great, especially if they had interest

How would they earn money to pay interest? I am relatively new, but I do not see a way for a banker to make money on deposits to be able to pay out interest.
Of course, I may have overlooked something.

Money is made in two ways on this site; posting and clicking.

One post will net you between 25 and 60 gold depending on how much you've already posted - the more you post, the less you get.


then there's clicking. 1 click on one creature = 1gold. Click as many unfrozen critters as you want in the day, there are more than several million

[Sourikus]

I have to agree with Jeh. Even though I "wished" there was a bank, doesn't mean it really is going to work out. Interest is a factor and so is getting it started. What if the user suddenly goes on hiatus and doesn't pay the loan back? There are other issues too, but as of now, I would have to say "nah".

Precisely why I had to ask for suggestions on this thing.

[Jeh]

I have to agree with Jeh. Even though I "wished" there was a bank, doesn't mean it really is going to work out. Interest is a factor and so is getting it started. What if the user suddenly goes on hiatus and doesn't pay the loan back? There are other issues too, but as of now, I would have to say "nah".

A player could just disappear due to various rl issues, not just the players who have the loans, but also the bankers.
I would not imagine many depositors because of that, what of collateral?

I do not think it is feasible, else over the almost 6 years there would have been a functioning bank, I think.

[Tekla]

I think the only way a bank could work here is if it were automated, not user-run. User-run leaves far too much room for errors and problems.