Mindark bank

Captain Jack

Elite
Joined
Dec 28, 2010
Posts
3,452
Society
Freelancer
Yep, that's old news. There were a lot of features we were supposed to get with MA being a bank, but somewhere along the line it fizzled out. It looks like DeepToken was some sort of second attempt.
 

Mega

Chaotic Good
Joined
Sep 30, 2006
Posts
16,077
Location
United Kingdom
Society
Kaos
Avatar Name
MegaVolt

Captain Jack

Elite
Joined
Dec 28, 2010
Posts
3,452
Society
Freelancer
Additional reading....

DeepToken introduced...
https://www.entropiauniverse.com/bulletin/buzz/2017/11/30/MindArk-s-Upcoming-Blockchain-Project.xml

Bank Plans... "Following the successful token sale, and development and implementation of the IPX, MindArk's next phase will involve the creation of the MindArk Bank, a financial services institution fully licensed by the Swedish banking authorities"
Source: https://www.prnewswire.com/news-rel...intellectual-property-exchange-676924653.html

DeepToken canned...
https://www.entropiauniverse.com/bulletin/buzz/2018/12/11/Deeptoken-Announcement.xml
 

Bones

Elite
Joined
Sep 17, 2006
Posts
3,094
Location
In the Refrigerator, Behind the Mayonnaise, Next t
Society
Skillin Villains
Avatar Name
Bare BareBones Bones
I wish they would figure something out to work with paypal.

Am done trying to find a card that will work with the game after multiple attempts.
 

San

Elite
Joined
Aug 5, 2007
Posts
2,593
Location
That freaking cold place (in RL)
Society
OldTimers
Avatar Name
Sandal San Tolk
I still don't understand why MA does not accept Bitcoin dep/wd.
This is actually common knowledge, google the question and you get plenty of articles about the why/why not. It's a huge can of worms, or in business terms a risk which needs to be managed at a cost which the customers will have to bear. Unless and until these costs fall in line with managing the risk of traditional currency fluctuations, it is unlikely to happen. For our little niche in all this, we're already happy the young leadership grew out of its wildest ideas that came in the baggage and seems to drive a sound strategy now. We live in times though with growing potential for circumstances changing, so one never knows, but the aforementioned condition applies.
 

Ace Flyster

Elite
Joined
Aug 31, 2006
Posts
4,984
Location
England, London
Society
Rangers
Avatar Name
Dave Ace Flyster
I still don't understand why MA does not accept Bitcoin dep/wd.
Probably because it is far too unstable. What rate would you have bitcoin to ped? If bitcoin skyrocketed and people withdrew, MA would go bankrupt. From a business point of view, it is highly risky. US Dollar to ped is stable and low-ish risk.

Rgds

Ace
 

Few Scars

Marauder
Joined
Aug 18, 2009
Posts
7,287
Location
Arkadia
Society
Freelancer
Avatar Name
Bjorn Bjorn Longstaff
The game hasn't been developed in years, there is no reason for a bank.
 

atomicstorm

Slayer
Joined
Aug 21, 2013
Posts
7,538
Location
Tennessee, USA
Society
Entropialoot.com
Avatar Name
MeLoveYou LongTime FiveDolla
I still don't understand why MA does not accept Bitcoin dep/wd.
They wouldn't directly. They would potentially do it through a 3rd party that converts automatically to cash to give to them. Problem here would be fees like paypal, which would be passed on to you. I would imagine they can't and is certainly too volatile for them to hold it on their end.
 

Suza

Old
Joined
Oct 2, 2017
Posts
78
Avatar Name
Suza Suze Rider
Probably because it is far too unstable. What rate would you have bitcoin to ped? If bitcoin skyrocketed and people withdrew, MA would go bankrupt. From a business point of view, it is highly risky. US Dollar to ped is stable and low-ish risk.

Rgds

Ace
Only someone truly stupid would try to tie BTC into a fixed unit of currency. You however personify the greed of the people... If you deposited 5 BTC at $10000 and withdrew at $5000 you would get 10 BTC as you would scream bloody murder if they only gave you the 5 back, but you are greedy and want your whole 5 BTC back if the price goes to $20000, which would only get you 2.5 BTC back... Greedy people want it both ways... more BTC if price drops yet all their BTC back if price goes up. BTC is like anything else you sell... you get the current market value and if the value then goes up, you need to pay more to get it ALL back or get less of it...

Selling a car at $5000 and a year later finding out it is now worth $10,000 doesn't mean you deserve more money for selling early...
 
Top