Trading: Banking

[Mastersan]

Hi All,

In this topic I've mentioned that we may need a bank for all funds related activities, like funding developments, investing into large scale projects (maybe buy out a planet?..):
https://testsquadron.com/threads/trading-founding-an-exchange.12691/

This may be quite handy (plus every TESTie gets a special rate + beer).

We and other players could deposit small portions of UEC. Those who deposit get interest. These fund may be used for lending to other players to buy ships or cargo for example (why saving to pay for Hull E full cargo load, just borrow from us). Those, who borrow, pay interest, which is higher than the one that depositors get. We keep the margin. :money_mouth:

We could also pool funds to invest in large construction projects, like a mining site or a beer factory. :beer:

This opens up a lot of other possibilities, like ship rentals, escort services, and insurance. Get a loan from TEST, and we will give you a discount insurance. Get an escort from TEST, and we will give you a better rate on the loan and a bit more discount on insurance. :)

Those who don't repay the loan... well, we have our debt collection, I mean bounty hunting division, right? :)

The bank names could be:
TIB - TEST Intergalactic Bank
TIBC - TEST Intergalactic Banking Corporation
TB - TEST Bank
etc.

What do you think?

 

[NaffNaffBobFace]

Interesting idea.

A suggestion for some acronyms.

TEST Investments and Savings Cooperative - TISC (the noise the bank manager will make when he receives loan applications)

TEST Wealth Administration Team - TWAT

Savings, Additions, Deductions And Social Security - SADASS

 

[Printimus]

Sounds a little complicated to run an entire stock exchange within a video game.

 

[Vavrik]

Interesing idea. But I'm curious about the names you came up with, you aren't by chance an undercover Canadian, insead of being from Oz?

The bank names could be:
TIB - TEST Intergalactic Bank
TIBC - TEST Intergalactic Banking Corporation
TB - TEST Bank
etc.

These seem like very Canadian names for banks.

TIB = Got me here a moment, but Maybe RBC. RBC is the largest bank in Canada, and one of the wealthiest banks on the continent.
TIBC = CIBC - a real bank in Canada
TB = TD - a real bank in Canada AND with a subsidiary in the USA.

 

[maynard]

Sounds a little complicated to run an entire stock exchange within a video game.

I agree, issuing stocks will never be a thing - it would require a small army of game masters to prevent fraud and abuse. CIG ain't got time for that.

Making collateralized loans could be the way to put your money to work, if CIG builds a good contract system with escrow

 

[Bruttle]

Test Intergalactic Credit and Loans Enterprise (Test-I.C.L.E)?

Seriously though, that does make sense. I was actually just wondering how the Javelin owners will be able to outfit their ships on day 1. I would assume that will be a priority. We need to get out there and establish our presence immediately.

Maybe instead of loans, we start out with just a funding pool. We can all donate what we can and help get that initial domination rolling.

 

[Printimus]

I agree, issuing stocks will never be a thing - it would require a small army of game masters to prevent fraud and abuse. CIG ain't got time for that.

Making collateralized loans could be the way to put your money to work, if CIG builds a good contract system with escrow

or we could just play the game that CIG gives us...lol god forbid we play it as it was intended.

 

[Devil Dog Hog]

I like the following acronyms. . .
TeaBAG = Test Bank And Gastronomy (because of the beer, and I'm going to want something to put in my mouth while I'm there).
TESTIE = Test Economic Subsidiary Trade & Intergalactic Exchange.
TESTICAL = Test Economic Subsidiary Trade & Intergalactic Capital Appreciation Loans.
BALLS = Banking, Accounting, Loans, & Liability Securities.
or instead of having one big central place to do all this trading, we could have tiny little thingies hanging out in pubic places called. . .
SACK = Savings And Commodities Kiosk
Don't even get me started on the annual company retreat for managers, they call it the Pointless Exercise Not Involving Soldiers. Has something to do with trust exercises when your drunk, and its a real pain in the ass. I hear they all come back acting like a bunch of dick heads.

 

[maynard]

or we could just play the game that CIG gives us...lol god forbid we play it as it was intended.

Chris Roberts can give us the beautifully rendered backdrop, but it will be the players' interactions with each other that make for epic experiences in-game

trust me, the best parts of Star Citizen will be things the Devs didn't anticipate

 

[AntiSqueaker]

yeah, player run banks in a video games always end up folding or being scams. EVE online has had trillions of isk stolen from players by some of "the most" reputable banking services at the time.

Plus then you run into all the fun irl stuff of interest rates, paying back loans, etc etc.

TBH if it's big projects like a space station or planetside base that everyone can use, passing the hat around or organizing some lucrative grinding missions explicitly for the project will be fine 99% of the time. People are a lot more open-handed in video games, where earning currency is enjoyable, rather than irl, where for the majority of us it's tedium.

 

[NaffNaffBobFace]

I like the following acronyms. . .
TeaBAG = Test Bank And Gastronomy (because of the beer, and I'm going to want something to put in my mouth while I'm there).
TESTIE = Test Economic Subsidiary Trade & Intergalactic Exchange.
TESTICAL = Test Economic Subsidiary Trade & Intergalactic Capital Appreciation Loans.
BALLS = Banking, Accounting, Loans, & Liability Securities.
or instead of having one big central place to do all this trading, we could have tiny little thingies hanging out in pubic places called. . .
SACK = Savings And Commodities Kiosk
Don't even get me started on the annual company retreat for managers, they call it the Pointless Exercise Not Involving Soldiers. Has something to do with trust exercises when your drunk, and its a real pain in the ass. I hear they all come back acting like a bunch of dick heads.

Wonderful acronyms!

I must go on record and apologise for my previous acronyms, reading them back they seem overly negative - It wasn't intended to be as such.

 

[SullyQuindarius]

This would be awesome. We gotta make sure to have a credit limit though. And I wonder if bankruptcy will be in-game?

Say some newbie who only owns a Hull-E and just started the game borrows the entire amount from us to fully load his ship. The poor guy gets blapped by pirates on his first trip. Now he has millions of UEC to pay off, no ship because he can't afford to pay the insurance claim, and a lot of TEST bounty hunt- *ehrm* TEST tax collectors on his ass.

Therefore, we should have like a credit rating. So you can only borrow a certain amount of money, and when you pay that loan off by the due date, your credit rating goes up and you can borrow more money. That way we can avoid newbies going bankrupt ;)

...I spent way too much time on this.

 

[Printimus]

Chris Roberts can give us the beautifully rendered backdrop, but it will be the players' interactions with each other that make for epic experiences in-game

trust me, the best parts of Star Citizen will be things the Devs didn't anticipate

yes and no