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Information Regarding Entropia Banks

Morat said:
All in all this reflects pretty badly on MA.

Firstly they fail to anticipate a pretty likely situation - someone decides to try and sell an asset they have.

Secondly they tacitly endorse a (dubious) share scheme (saying a license holder can, and a non license holder cannot is a pretty clear endorsement of the license holder).

Thirdly they accept that a bank holding other peoples property can be taken over by just about anyone with the PED to spare.



A lot of people have complained MA have a cavalier attitude to their customers - us - and this pretty much proves it.

It doesn't fill you with confidence as to their business ability either.

Sounds like a very original concept is heading down the drain.
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Yes, they failed to anticipate that... but they issued appropriate statements almost instantly. I could hope for better anticipation on MA's side, which is yet to come and I'd rather endorse them than shout "look, they're evil" each time something unexpected occurs.

Ma didn't endorse selling shares, they endorsed banking itself and guaranteed operations. It's like saying that by selling LA to someone they endorse someone selling shares in it.

Yes, any items can be taken over by someone with ped to spare if he/she purchases banking license... yet they can't sell it before loan expiry, so I don't see a problem here.

If one wants to see evil conspiracy around one will succeed... I don't need that though.
 
So now knowing MA is going to make money again off the sale of the same bank will our loots increase increase somewhere in the next 2 yrs? Maybe an actual loot or something? I never liked the banks..But then again it was all about the money.But its worse when someone comes into the game to just open up something without knowing the people etc. I am not a big ND fan but at least he maintains integrity with his ventures, and it is good to see marco actually answering back. Good luck to those of you with items, and those of you who bought the stock, think of it as investing in the american stock exchange and wave goodbye to that money..
 
Gray Darkman said:
So now knowing MA is going to make money again off the sale of the same bank will our loots increase increase somewhere in the next 2 yrs?
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how will they make more money from the sale? :confused:
 
Marco|MindArk said:
All parties affected have been contacted in private and I don't see it as alright displaying this publicly from my position. Anyone who is involved may of course discuss this publicly if they feel like it.
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a bit later:

Shadowmage said:
But there you don't mean people actually having loans at the bank, but just Anshe and maybe connection to Mindark, or ?

At least, myself as actually having loans at Oxford Bank, not accessable atm, didn't get contacted by anyone (support response pending since lunchtime today).

But good to see you already working and taking care of it :)
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and a bit later:

Marco|MindArk said:
All loan-takers will be contacted during Monday (US Time Zone). If you haven't heard anything within 12 hours or so, please contact the Entropia Support.
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Soooo... this means your first statement was a lie, NOT all parties involved were contacted. I honestly don't understand why you didn't just say that. It's so much easier and credible.


Good to see something is gonna be done though. Oh, btw, does "all parties involved" mean that you got in contact with Anshe as well?
 
Nighthawk said:
how will they make more money from the sale? :confused:
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Well lets see. They sold the bank once.. Now its in auction to be sold again, where they will get fee's etc from the resell..Its cool, just was all about the money in the first place. Banks are very volatile in the first place, which lots of players tried to explain to people.
 
Gray Darkman said:
Well lets see. They sold the bank once.. Now its in auction to be sold again, where they will get fee's etc from the resell..Its cool, just was all about the money in the first place. Banks are very volatile in the first place, which lots of players tried to explain to people.
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yeah but they wont make much money... cause the seller will withdraw most of the money again probably
 
Gray Darkman said:
Well lets see. They sold the bank once.. Now its in auction to be sold again, where they will get fee's etc from the resell..Its cool, just was all about the money in the first place. Banks are very volatile in the first place, which lots of players tried to explain to people.
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100 ped.... :rolleyes:
 
What about the ATM cards? LMFAO

What about the ATM cards?

How late are they be8ing put back in now? a week, 2 weeks? A month even? Wait can't be 6 months that would be crazy.

Ohh wait it is a year? No wait it has been over a year. I guess there were some problems to work out might take more then a year? Still crazy..

Ohh wait it is going on 2 years now +


WOW, makes me feel secure about a RCE game.

Haven't deposited in forever and will not till I can feel secure again. The ATM card fiasco has destroyed my confidence.
 
dutch chap said:
a bit later:
Soooo... this means your first statement was a lie, NOT all parties involved were contacted. I honestly don't understand why you didn't just say that. It's so much easier and credible.
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I quite agree Chap. If official Statements are to made they should be accurate.

But then, is Marco actually an MA spokesman now??

Or is this a Planet Calypso issue, hence marco being the person comenting on this?

But if this is an MA issue, we have yet to have an MA representative come in here to comment, apart from the initial statement pulled in by Bertha.

Who is running the show here?
 
Marco|MindArk said:
MindArk has full responsibility of the economic system as it is part of the platform.
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Mindark also went on Swedish television and claimed they are in full control of the supply, hence nullifying the risk of extreme inflation and deflation. People wouldn't risk their investments turning sour. Is that on topic? I dunno. :dunno:
 
Akoz said:
:rofl: ?

The only place with more inflation than Entropia is Zimbabwe :laugh:
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i think Zimbabwe's inflation is far more controlled then EU's now .... dont put down the fine country of zimbabwe like that :silly2:
 
My original expectation is that for selling shares the Exchange would have been used as a system to administrate it all. It seems it was not used for reasons outside EU but then players were allowed to do the same without a framework to do so.

Nice to see some clarification. Now if Anshe clarifies I think everyone will be sufficiently informed.
 
I find it interesting that Banks are allowed to be put in Restricted Access mode while they have active loans. That seems a bit short-sighted. I am glad to read that MindArk is fully guaranteeing all loans and items during this turmoil. It just seems odd that nobody (including me) saw this situation coming :eek:
 
NevadaJake said:
I find it interesting that Banks are allowed to be put in Restricted Access mode while they have active loans. That seems a bit short-sighted. I am glad to read that MindArk is fully guaranteeing all loans and items during this turmoil. It just seems odd that nobody (including me) saw this situation coming :eek:
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Well ALL estates are always put on restricted access (according to what I have been told) when:
1) They are for sale in auction
2) The owner has not paid the rent
 
Nighthawk said:
Well ALL estates are always put on restricted access (according to what I have been told) when:
1) They are for sale in auction
2) The owner has not paid the rent
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Yikes! so your items could easily become inaccessible if the bank owner lapsed on their rent. Yeah, I think I remember reading about that issue some time back. I have not had any experience at a bank yet, so I didn't really think about it when I read it. It sounds like the external-claim-terminal thing that MindArk is putting in will fix all of these situations in the future :wtg:
 
I think it's kind of silly that there's rent for the banks anyway...
 
Nighthawk said:
No, but I am 99.8% sure that they have issued a warning against stuff like that :)
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Interesting... can you point me to the warning? Not doubting you, I just have not seen that.

Thx
 
Xen said:
I think it's kind of silly that there's rent for the banks anyway...
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1000% agree Xen , why take a few shit peds when such large amount of money is involved :scratch2:
 
better late than never :/
 
Just the beginning of the ned... there is no space for more than 2 banks anyway...
 
hope it's solved ok for all ... Auctioning banks should not be allowed imo
 
NastyCenturion said:
hope it's solved ok for all ... Auctioning banks should not be allowed imo
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Agreed! When you buy a bank license you buy it for a certain time. There should be no backing up. You have decided to purchase a License for 3 years?? LIVE WITH IT!!!

This has shown as another big mistake by MA. Things involving so much cash and so many people should be thought throughly before releasing them to open market.

-Rep MA!!! BIG SCREW UP!!!
 
Got a message from MA today, loans are gonna to last one more week. Not very satisfied with this because I want my items back now, and still, who guarantees that access will be granted again after one week, could also happen that it doesn't sell and get put into auction again or not accessible by owner right after auction ends ?
 
JohnnyBravo said:
Agreed! When you buy a bank license you buy it for a certain time. There should be no backing up. You have decided to purchase a License for 3 years?? LIVE WITH IT!!!
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Ahh ... the license misconception.

The license is not for 3 years, it is unlimited, it is however exclusive for 3 years meaning MA will not sell anymore than the original 5 for those first 3 years.
 
Blake Seven said:
Ahh ... the license misconception.

The license is not for 3 years, it is unlimited, it is however exclusive for 3 years meaning MA will not sell anymore than the original 5 for those first 3 years.
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It's not that Mate :) I was just suggesting how it should be. The License Should be purchased for a certain time and during that license the owner can't sell the Bank. This would exclude such situations when people buy estate just as an investment and let it go ruined untill they can simply sell it with some profit without care for people involved.

Anyways... I wonder how it will end. Imagine having Mod Merc and Mod FAP in that Oxford Bank right now :eek: Wouldn't you get pissed and could you sleep easilly ?? I really doubt it.
 
Shadowmage said:
Got a message from MA today, loans are gonna to last one more week. Not very satisfied with this because I want my items back now, and still, who guarantees that access will be granted again after one week, could also happen that it doesn't sell and get put into auction again or not accessible by owner right after auction ends ?
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What - you are not getting your items back, the loan period is just extended a week? What about the interest, I am sure they will make you pay more interest for graciously extending your loan period rather than giving your items back to you.

I had considered using a bank in the past when I was bidding on an item. Glad I did not and I have to say I am not sure I ever will now. The chance of losing my items or not being able to get it out when I want is not attractive at all.

Good luck, hope in a week you really do get your items back.
 
You can go to a rl pawnshop and sell your stuff to get money to deposit. Then you can go to an in game pawnshop to get money to play. Now all we need is for the trade terminal to accept souls. This way you can sell your soul for an ATH. I`m sure people would be interested. Or did we sign that away already in the EULA?
 
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