Guest Elijah Mikaelson Posted March 29, 2020 Share Posted March 29, 2020 Hello everyone Over the last few months of hard work and pixel hugging, I have now seen the light of prominent whale status, So as I look down upon you all from the height, I now find myself I wish to pass on wisdom to you all. So I will be honest with you all, words from someone with nothing to gain and everything to lose. Banks, greed, trust and lies First, of let's get down to the real value of a bank, many people misunderstand the benefit of banks and are dumb enough to buy into these banks, in the hope of a return. 1) Shares: If you buy shares in a bank then you must demand 2% weekly interest of the cost of those shares, so if you purchased 100m in value of shares you want 2m a week return on that investment of shares. 2) Investment: If you invest in a bank, if it is a savings account or a bond, you must make it clear how the money must be used. 2a) Savings account, make it clear they can not loan your cash out or make a profit from your saving account, make sure you give them no more than 24 hours to send your full saving account if they fail then they are using your money to support loans, making money off your hard work and you get nothing. 2b) Investment, Make sure you have a say on where your money goes, such as if the money goes to a high-risk client make sure they pay you higher interest, the last thing you need is for you to get 2% from an investment. The bank is getting 5% due to high risk, What risk is the bank taking really, if they default the likely hood is you will lose out not the bank who has no skin in the game. Now many people such as micro who cares about the name sold 12 billion in shares, however, loaned out 6 billion and the other 6 billion did a harry potter and disappeared. If that bank closed its doors today, all investors and shareholders lose out those running the bank do not care they made more in the last however months than they have in the time they joined us all. But it is not just small micro banks you have to be careful of its the whale banks also, let's look at Seb and Sphinx two of the biggest names in banking. Seb has had what three failed banks and every time it has always been someone else's fault, he did no wrong. Still, every time a bank failed, he got a new city, how did that happen, guess Harry potter returned for Seb. However, little old man Seb is not the only one who seems to be on the winning side of failed banks; Sphinx also seems to find a pot of gold at the end of every failed bank. When Rado left this world, it was reported he stole billions, and no one would get any interest from the bank, however a pot of gold and a new city for our boy Sphinx. So take it from someone who has been in the mud, who has been part of and owned many banks, unless you are running the bank you do nothing but make someone else rich off your money. SO DEMAND YOUR MONEY BACK, SELL THE DEAD SHARES. Get a new city build some infra, and its a safer, and a high return rate than trusting some dodgy banks. I own a bank with over 10 billion out in loans, I had 15 billion out, but as I am closing my bank down, I am building cities. As I have seen the light and the error of my ways, BANKS are just taking from you to make themselves rich nothing more. Look at the more prominent names of banking Sphinx, Seb and even myself, 40 plus cities, how many cities you on? Side note, if you need a loan refuse to pay more than 2%, if everyone did this, the banks will have no choice but to drop interest rates, unlike my bank where all the cash is mine, all other banks have to keep investors and shareholders happy and for the most part, have to pay them weekly. THIS gives you the power to demand better interest rates. So go forth now, and any new loans refuse to pay more than 2%, watch how the micro banks fail and the whale banks dry up. Stop making other people rich and only think of yourself. (DO NOT be dumb, however, if you already have a loan stick to the agreement, but pay it off as fast as you can, As for me in the last seven weeks I have made 2.7 billion from interest payments alone. Stop making people like me, Sphinx and Seb rich.) Quote Link to comment Share on other sites More sharing options...
Popular Post Denison Posted March 29, 2020 Popular Post Share Posted March 29, 2020 (edited) tldr You lost me at, "Hello Everyone". Edited March 29, 2020 by Denison 1 7 4 Quote Janny Larpers Link to comment Share on other sites More sharing options...
Changeup Posted March 29, 2020 Share Posted March 29, 2020 46 minutes ago, Bjorn Ironside said: I have now seen the light False. 1 1 Quote Link to comment Share on other sites More sharing options...
Guest Elijah Mikaelson Posted March 29, 2020 Share Posted March 29, 2020 50 minutes ago, Changeup said: False. I have seen the light, however I would never join the dark side labelled as the enlightenment 1 hour ago, Denison said: tldr You lost me at, "Hello Everyone". you are in KT, so yes two words is enough before your brain hurts Quote Link to comment Share on other sites More sharing options...
Thalmor Posted March 29, 2020 Share Posted March 29, 2020 Has any private bank worked out in this game? Seems like they all imploded eventually. 1 hour ago, Bjorn Ironside said: you are in KT, so yes two words is enough before your brain hurts 'KT man bad' quota for this week has been reached. Thank you for your contribution. 3 Quote Link to comment Share on other sites More sharing options...
Guest Elijah Mikaelson Posted March 30, 2020 Share Posted March 30, 2020 15 minutes ago, Thalmor said: Has any private bank worked out in this game? Seems like they all imploded eventually. 'KT man bad' quota for this week has been reached. Thank you for your contribution. Mine has worked out for close to 18 months, but that was due to all the money invested was from me and no one else making it easier to deal with lost funds and also making the most out of it, many banks pay 2% of the interest they make to bond holders and share holders, I kept all 3% to 4.5% i charged. Quote Link to comment Share on other sites More sharing options...
Prefontaine Posted March 30, 2020 Share Posted March 30, 2020 12 minutes ago, Thalmor said: Has any private bank worked out in this game? Seems like they all imploded eventually. Yarr. Only because we don't want your money, we will hold your money for you, and loan you our money at small interest rates to rebuild after wars. We don't care much about anything but chilling out and drinking. 3 Quote Link to comment Share on other sites More sharing options...
Guest Elijah Mikaelson Posted March 30, 2020 Share Posted March 30, 2020 3 minutes ago, Prefontaine said: Yarr. Only because we don't want your money, we will hold your money for you, and loan you our money at small interest rates to rebuild after wars. We don't care much about anything but chilling out and drinking. And coming up with bad ideas Quote Link to comment Share on other sites More sharing options...
Rossiya Posted March 30, 2020 Share Posted March 30, 2020 Banks screw their investors and customers based on mutual consent. Who are you to tell them how to live their lives? Quote Link to comment Share on other sites More sharing options...
Keegoz Posted March 30, 2020 Share Posted March 30, 2020 The fact that @Alex bailed out individuals because 'banking is good for the game' is always a highlight for me. Banks generally always rip someone off. 5 Quote [11:52 PM] Prefontaine: But Keegoz is actually bad. [11:52 PM] Prefontaine: He's my favorite bad leader though. Link to comment Share on other sites More sharing options...
丂ħ̧i̧₣ɫ̵γ͘ ̶™ Posted March 30, 2020 Share Posted March 30, 2020 >trusting any Sphinx owned entity Orion Bank was one of the biggest scams ever. "It was Rado" "It was Seb" Ever think it was an IQ bankroll? Quote Link to comment Share on other sites More sharing options...
Charles Bolivar Posted March 30, 2020 Share Posted March 30, 2020 (edited) 13 hours ago, Bjorn Ironside said: Hello everyone Over the last few months of hard work and pixel hugging, I have now seen the light of prominent whale status, So as I look down upon you all from the height, I now find myself I wish to pass on wisdom to you all. So I will be honest with you all, words from someone with nothing to gain and everything to lose. Banks, greed, trust and lies First, of let's get down to the real value of a bank, many people misunderstand the benefit of banks and are dumb enough to buy into these banks, in the hope of a return. 1) Shares: If you buy shares in a bank then you must demand 2% weekly interest of the cost of those shares, so if you purchased 100m in value of shares you want 2m a week return on that investment of shares. 2) Investment: If you invest in a bank, if it is a savings account or a bond, you must make it clear how the money must be used. 2a) Savings account, make it clear they can not loan your cash out or make a profit from your saving account, make sure you give them no more than 24 hours to send your full saving account if they fail then they are using your money to support loans, making money off your hard work and you get nothing. 2b) Investment, Make sure you have a say on where your money goes, such as if the money goes to a high-risk client make sure they pay you higher interest, the last thing you need is for you to get 2% from an investment. The bank is getting 5% due to high risk, What risk is the bank taking really, if they default the likely hood is you will lose out not the bank who has no skin in the game. Now many people such as micro who cares about the name sold 12 billion in shares, however, loaned out 6 billion and the other 6 billion did a harry potter and disappeared. If that bank closed its doors today, all investors and shareholders lose out those running the bank do not care they made more in the last however months than they have in the time they joined us all. But it is not just small micro banks you have to be careful of its the whale banks also, let's look at Seb and Sphinx two of the biggest names in banking. Seb has had what three failed banks and every time it has always been someone else's fault, he did no wrong. Still, every time a bank failed, he got a new city, how did that happen, guess Harry potter returned for Seb. However, little old man Seb is not the only one who seems to be on the winning side of failed banks; Sphinx also seems to find a pot of gold at the end of every failed bank. When Rado left this world, it was reported he stole billions, and no one would get any interest from the bank, however a pot of gold and a new city for our boy Sphinx. So take it from someone who has been in the mud, who has been part of and owned many banks, unless you are running the bank you do nothing but make someone else rich off your money. SO DEMAND YOUR MONEY BACK, SELL THE DEAD SHARES. Get a new city build some infra, and its a safer, and a high return rate than trusting some dodgy banks. I own a bank with over 10 billion out in loans, I had 15 billion out, but as I am closing my bank down, I am building cities. As I have seen the light and the error of my ways, BANKS are just taking from you to make themselves rich nothing more. Look at the more prominent names of banking Sphinx, Seb and even myself, 40 plus cities, how many cities you on? Side note, if you need a loan refuse to pay more than 2%, if everyone did this, the banks will have no choice but to drop interest rates, unlike my bank where all the cash is mine, all other banks have to keep investors and shareholders happy and for the most part, have to pay them weekly. THIS gives you the power to demand better interest rates. So go forth now, and any new loans refuse to pay more than 2%, watch how the micro banks fail and the whale banks dry up. Stop making other people rich and only think of yourself. (DO NOT be dumb, however, if you already have a loan stick to the agreement, but pay it off as fast as you can, As for me in the last seven weeks I have made 2.7 billion from interest payments alone. Stop making people like me, Sphinx and Seb rich.) Now...tell us something we don't know? This being said, banks exist because most econ heads (with exceptions of course) generally don't know how to invest in their own alliance's growth adequately. Too much book-keeping and not enough actual economics. A perfect example of this mindset is the tendency for governments to raise taxes in order to increase funds for government usage versus increasing the tax base of an alliance via the application of sound economic policy. Edited March 30, 2020 by Thorkell Hardrada 1 1 Quote Link to comment Share on other sites More sharing options...
Gideon Posted March 30, 2020 Share Posted March 30, 2020 18 hours ago, Rossiya said: Banks screw their investors and customers based on mutual consent. Who are you to tell them how to live their lives? A warning was issued. 1 Quote Link to comment Share on other sites More sharing options...
Raphael Posted March 31, 2020 Share Posted March 31, 2020 Honestly all of your advice is just to mitigate the risk of investment in shady banks with little or no transparency. Just don't invest in people you don't trust, you don't need to avoid banks. 1 2 Quote Link to comment Share on other sites More sharing options...
Changeup Posted March 31, 2020 Share Posted March 31, 2020 1 hour ago, Roberts said: Honestly all of your advice is just to mitigate the risk of investment in shady banks with little or no transparency. Just don't invest in people you don't trust, you don't need to avoid banks. This. I can attest to the existence of at least 2 trustworthy and well-run banks, and I'm sure there are others. 1 1 Quote Link to comment Share on other sites More sharing options...
Buck Turgidson Posted April 1, 2020 Share Posted April 1, 2020 On 3/29/2020 at 8:18 PM, Bjorn Ironside said: And coming up with bad ideas Actually, I agree with most of your statements Bjorn, but I founded Yarr to address the same concerns rather than keep !@#$ing about them. In our 3 years of existence: - We have never screwed anyone - If we took a hit due to a raid, we replaced deposited funds with our own - We have never paid interest on deposits - We lend our own savings - And cctmsp13 devised a way for us to lend people's deposits, have them participate in the decision on who it will be lent to, and then track it all. And we don't take a cut. Where is our profit you may ask? This activity gives us retirees a role in Orbis, a way to stay relevant in our retirement. And that lies at the heart of the problem with banking - as a money making venture, if done honestly, there is NO MONEY TO BE MADE. At best you keep up with inflation, and at worst, the people who put it together feel a sudden pang of entitlement, wig out, and steal the bank, justifying themselves that it makes up for the service charges not charged... In short, a greedy or blingy banker is a future thief. Seb is a member of Yarr now, and of course doing his side deals. You came visiting our Discord, made similar accusations (which I did not necessarily disagree with), but failed to present any evidence, so I asked you to stop, and you did. Yet the problem persists, and reappears on a public forum. If you have evidence of his wrongdoing, please post it here and we can take a look at it. Yarr's credibility is our core product. 1 4 Quote Are you originally from Earth, too? Proud owner of Harry's goat. It's mine now. I now own MinesomeMC's goat, too. It's starting to look like a herd. Yep, it is a herd. Aldwulf has added his goat, too, and it ain't Irish. Link to comment Share on other sites More sharing options...
Blitz Posted April 4, 2020 Share Posted April 4, 2020 (edited) On 3/30/2020 at 2:28 AM, Bjorn Ironside said: Savings account, make it clear they can not loan your cash out or make a profit from your saving account, Yep. Money just sitting there will generate money to pay for the SA interest. im actually confused man. i know im returning from a year long break but damn hasnt the banking industry ruined its reputation. and heres the deal. not all ban ks invest in the market to be able to immediately liquidate assets to pay withdrawing clients. To be quite frank, most rely on only loans as a source of revenue. Its common sense that its not viable to not loan out SA funds. But i do have to agree with you on the transparency and control aspect that you talked about in 2b. Unfortunately thats something that most overlook. but well, if suddenly all clients demand a 2% interest, and people also expect a 2% share dividend, then well, almost every bank would crumble just because not every coin is loaned out all the time. but yeah, i agree with you in the whole harry potter gains by a few individuals. afterall, our rep wouldnt be here if not for them. Edited April 4, 2020 by Blitz Quote Link to comment Share on other sites More sharing options...
Prefonteen Posted April 4, 2020 Share Posted April 4, 2020 You're saying the concept of banking is founded on the leverage of investor wealth to drive profit for the banker? I'm shocked! 4 1 Quote Link to comment Share on other sites More sharing options...
Blitz Posted April 5, 2020 Share Posted April 5, 2020 13 hours ago, Prefonteen said: You're saying the concept of banking is founded on the leverage of investor wealth to drive profit for the banker? I think he banked too much with his own cash that he didnt get that point lol Quote Link to comment Share on other sites More sharing options...
Whizzy Posted April 8, 2020 Share Posted April 8, 2020 (edited) On 3/30/2020 at 11:03 AM, Thorkell Hardrada said: Now...tell us something we don't know? This being said, banks exist because most econ heads (with exceptions of course) generally don't know how to invest in their own alliance's growth adequately. Too much book-keeping and not enough actual economics. A perfect example of this mindset is the tendency for governments to raise taxes in order to increase funds for government usage versus increasing the tax base of an alliance via the application of sound economic policy. Ain't nothing truer, we need more creativity and actual Economic policies not the regular tax thingy...and yes too much book keeping already Edited April 8, 2020 by Whizzy :) Quote Link to comment Share on other sites More sharing options...
Popular Post Psweet Posted April 9, 2020 Popular Post Share Posted April 9, 2020 On 3/29/2020 at 7:56 PM, Thalmor said: Has any private bank worked out in this game? Seems like they all imploded eventually. 'KT man bad' quota for this week has been reached. Thank you for your contribution. If I may introduce you to Stratton Oakmont, which liquidated and returned its shares' value directly to its investors: Now, to address the OP... 1) Shares: If you buy shares in a bank then you must demand 2% weekly interest of the cost of those shares, so if you purchased 100m in value of shares you want 2m a week return on that investment of shares. Any bank that offers you a return in cash of 2/3 or half of what they make in gross revenue is either a very risky investment or a ponzi scheme. Investors gain wealth when their share value increases too, and their share values ain't gonna increase much if the bank is paying out everything it earns in dividends. Plus, it leaves the bank less flexibility in times of low loan demand, or when sudden problems happen, like customers deleting/defaulting on their loans. Banks are not magical printing presses. 2a) Savings account, make it clear they can not loan your cash out or make a profit from your saving account, make sure you give them no more than 24 hours to send your full saving account if they fail then they are using your money to support loans, making money off your hard work and you get nothing. What incentive is there for the bank to hold someone's money if they cannot use it? For precisely this reason, none of the banks I've been part of have ever operated savings accounts as part of normal business. And when we did, we were the ones charging the account owner for our responsibility in holding and guaranteeing it. if they default the likely hood is you will lose out not the bank who has no skin in the game. What I think you mean is that the BANKER has no skin in the game. Obviously if the bank loses money, the bank loses money. It IS the skin that is in the game. You also seem to be laboring under the assumption that specific deposit accounts are used to fund specific loans. Now, I can't speak for other banks, but no bank I've ever been a part of did this - investors (not depositors - see above) are pooled into a general cash fund, and from that fund out go the loans. This actually reduces risk in the same way that buying an index fund on the stock market reduces risk - you have inbuilt diversification. If other banks wanna do fiddley bits with the accounts, that's their doing, but I would like to take this moment to remind people that complexity is almost never the friend of an honest man - it exists to obfuscate and create loopholes and opportunities. Now many people such as micro who cares about the name sold 12 billion in shares, however, loaned out 6 billion and the other 6 billion did a harry potter and disappeared. If that bank closed its doors today, all investors and shareholders lose out those running the bank do not care they made more in the last however months than they have in the time they joined us all. But it is not just small micro banks you have to be careful of its the whale banks also, let's look at Seb and Sphinx two of the biggest names in banking. Seb has had what three failed banks and every time it has always been someone else's fault, he did no wrong. Still, every time a bank failed, he got a new city, how did that happen, guess Harry potter returned for Seb. However, little old man Seb is not the only one who seems to be on the winning side of failed banks; Sphinx also seems to find a pot of gold at the end of every failed bank. When Rado left this world, it was reported he stole billions, and no one would get any interest from the bank, however a pot of gold and a new city for our boy Sphinx. And I would like to take this opportunity to remind people, once again... NEVER INVEST IN A BANK THAT IS NOT OPEN AND CLEAR ABOUT ITS FINANCES AND IS FINE WITH DISCUSSING THEM IN A WAY THAT YOU CAN UNDERSTAND. Just don't do it. There is no reason from the bank's point of view to be secretive about anything (other than occasional customers who wish their names to be hidden) unless they have something to hide. Stratton Oakmont kept 100% free and open books the entirety of its existence down to the general journal in which every. Single. Transaction. Was recorded. Amazingly, nothing bad ever resulted from doing so. So take it from someone who has been in the mud, who has been part of and owned many banks, unless you are running the bank you do nothing but make someone else rich off your money. SO DEMAND YOUR MONEY BACK, SELL THE DEAD SHARES. Unfortunately, this is largely true. Ever since a certain very large and influential bank drove interest rates down to the 3 - 4% region, banking has not been terribly lucrative given the amount of work it takes to run one honestly. That's not to say there is no profit to be made, but I fear many peoples' expectations are far too high when they invest. I own a bank with over 10 billion out in loans, I had 15 billion out, but as I am closing my bank down, I am building cities. As I have seen the light and the error of my ways, BANKS are just taking from you to make themselves rich nothing more. Look at the more prominent names of banking Sphinx, Seb and even myself, 40 plus cities, how many cities you on? Dishonest banks don't return on their investments, honest ones do. Most nations in mid tier are better off investing in themselves than in banks, even just strictly from a return perspective even assuming the bank doesn't collapse or suffer from defaults. However, the implication that the bankers should not be profiting from running banks is absurd. Running one well is a fair amount of work. Bankers are not charities. If you're not getting paid for the effort of record keeping, safeguarding, networking, finding investors, dealing with complaints, and working with customers, why the heck would you even do it? Speaking as one of the first successful private bankers in Orbis, it's a load of work and it's not that fun after the first year of novelty wears off. You bet I made a healthy profit from the bank I ran. But so did my investors. Side note, if you need a loan refuse to pay more than 2%, if everyone did this, the banks will have no choice but to drop interest rates, unlike my bank where all the cash is mine, all other banks have to keep investors and shareholders happy and for the most part, have to pay them weekly. THIS gives you the power to demand better interest rates. So go forth now, and any new loans refuse to pay more than 2%, watch how the micro banks fail and the whale banks dry up. Stop making other people rich and only think of yourself. This is facile. Banks have expenses. People default. Resource brokering occasionally goes bad. And as I said above, a reasonable profit is expected from all the work being put into the bank. If you demand rates that low, banks will just close. I would estimate almost all the banks will close, because even if the banker owns 100% of the bank (and he might, since there would be no point in getting investors since you claim investors should be paid 2% of their investment back every week.... even though the loans being made apparently would be getting 2% for the bank?), 2% return on their capital, less expenses (which can be very substantial) is not worth it. So, good job killing a mechanic that has deepened the game's appeal and accelerated the growth of alliances and nations from the ready flow of capital. I'm starting to wonder how good your bank could possibly have been if this is the extent of your understanding of how banks operate. 1 7 Quote Link to comment Share on other sites More sharing options...
丂ħ̧i̧₣ɫ̵γ͘ ̶™ Posted April 21, 2020 Share Posted April 21, 2020 This didn't age well ayy lmao 3 Quote Link to comment Share on other sites More sharing options...
dtc justice Posted April 22, 2020 Share Posted April 22, 2020 The truth about "bankers" Quote Link to comment Share on other sites More sharing options...
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