Jump to content

Why Swing & TOSE Failed…


Deraj
 Share

Recommended Posts

so poor bookkeeping, fractal reserve lending and trading. what i don't get is why stocks being over valued was an issue. i assume that has to do with the conflict of interests because the market itself is not at fault when people can not sell there stock for what it had been previously trading for. maybe having information about the trade volume of individual stocks could have helped people mitigate that risk. there is also the question of why when you were hit you first looked to cover your own nations losses, unless i misunderstood that part. still paying someone to stop hitting you is at best bad practice long term and at worse indicates a total bank failure if the reason you needed to pay was that you could no longer keep the money safe.

 

no clue how much of this is true but it just goes to once again show that if something seems to good to be true it probably is.

Link to comment
Share on other sites

20 minutes ago, Deraj said:

What Made TOSE Fail?

I had already dealt with the setback of losing Benj to family obligations; I had already dealt with the setback of BenJ getting raided and deleting most of his cities, projects and billions of infrastructure, and then deleting his nation due to the utter might of Calondia.

FTFY

  • Like 4
  • Haha 2
Link to comment
Share on other sites

Thank you for taking the time to write this, it was very well written and informative~

  • Upvote 6

Denison-1.png

Look up to the sky above~

Link to comment
Share on other sites

14 minutes ago, im317 said:

what i don't get is why stocks being over valued was an issue.

dunno. It seems like a separate issue in that its a ponzi scheme only held up by the systemic issue of actually converting those stocks and cashing out. 
the cash from the original sale of the shares was embezzled on their other ventures / buying cities or whatever, or wasted it on dumb stuff like sending schrute's 1b offshore to 4 different people and paying off pirates

Edited by Borg
  • Upvote 1
Link to comment
Share on other sites

16 minutes ago, im317 said:

so poor bookkeeping, fractal reserve lending and trading. what i don't get is why stocks being over valued was an issue. i assume that has to do with the conflict of interests because the market itself is not at fault when people can not sell there stock for what it had been previously trading for. maybe having information about the trade volume of individual stocks could have helped people mitigate that risk. there is also the question of why when you were hit you first looked to cover your own nations losses, unless i misunderstood that part. still paying someone to stop hitting you is at best bad practice long term and at worse indicates a total bank failure if the reason you needed to pay was that you could no longer keep the money safe.

 

no clue how much of this is true but it just goes to once again show that if something seems to good to be true it probably is.

Keep in mind, The Swing was something I “inhertited” to say the least. I was not the visionary and didn’t establish the business model. 

My thought regarding “over valuation” comes from seeing how the inflows and outflows of TOSE actually happend. I suspect at some point early on, the money was never there to back it up; and the problem exacerbated itself as time went on.  Within the environment if I buyer bought a stock from a seller; it did not nessicarilly mean the buyer just funded their account. I have more data I’ll eventually cover which goes in deeper to why this was part of the problem. 


 

 

  • Upvote 1
Link to comment
Share on other sites

13 minutes ago, Deraj said:

My thought regarding “over valuation” comes from seeing how the inflows and outflows of TOSE actually happend. I suspect at some point early on, the money was never there to back it up; and the problem exacerbated itself as time went on.  Within the environment if I buyer bought a stock from a seller; it did not nessicarilly mean the buyer just funded their account. I have more data I’ll eventually cover which goes in deeper to why this was part of the problem. 


 

 

It seems to me that at some point - either money was being added to the server economy that wasn't backed up by in-game trades or the money that was added to the economy was backed up by in-game trades and was lost due to a lack of book keeping and intentional or unintentional embezzlement. 

 

The only way $1m should be able to enter the TOSE bot is that a banker accepts $1m money in-game and adds it to the alliance bank. I know that some folks were given authority to receive this money and it wasn't well accounted for. As someone that used to have banker perms -  I feel like I had the opportunity to just not report these types of trades, but accept the trade and add the money to the economy. 

I think it was a big lack of oversight issue - because TOSE was massive and took a number of competent people to run effectively - something that was sorely lacking towards the end. 

  • Upvote 2
Link to comment
Share on other sites

37 minutes ago, Zygon said:

I love when people waste my time with this in Alliance Affairs, like wtf?

well i think its not a matter worth read for you , then i think it wasnt worth commenting , forum always show the topic

  • Upvote 1
  • Downvote 2
Link to comment
Share on other sites

I didnt read the full things my head hurts and im tired I took the 15bil debt from  Deraj that TW lost i plan to pay that off regardless of how stupid that sounds and Ill be attempting to make some payments to people who invested in Summit Banking years ago while repaying Souparmon 600mil Old Debts from 2 years ago this has been annoying but oddly is possible if anyone else needs repayment i can add proven debts to my list and overtime repay say the 25bil missing for people at my own expense so hang on top your seats this is gonna take a few years and dont expect me to care about how bad you want a money return because I choose who is on the list and which level of importance they hold and so far it goes The Wei, Murtaza, The Shadow, Souparmon, whoever ever else i choose to put here

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use and the Guidelines of the game and community.