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Clarification about Entropia banking operations

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Woodger said:
Player A (the 'bank') gives player B (the item holder) tt + 100 ped for his item that is worth tt + 200.

PLayer B comes back to pay player A to get his item back

Player A says no, and has just earnt himself an item worth tt+200 for tt+100 ped

Thats the scam
Click to expand...

...but that isnt really a banking/loaning service at all, thats a pawnshop phenomena?

I take it MA completely skipped school regarding these terms?

So the statement should only regard pawnshops, not banking, since in banking you dont normally leave collateral for small ammounts (say in swedish terms, a loan equalling 1,000 to 50,000 PED can be done without collateral), only big loans such as a houseloan takes the house as collateral.

While on the subject, im sure many others have reacted to the fact that the 5 "banks" ingame with "banking licenses" are infact pawnshops with... pawnshoplicenses?

What a way to obscure the terminology just because its a virtual world...

So pawnshopping is banking, this means banking is pawnshopping? so if i loan someone 100 ped without collateral im running a virtual pawnshop and not affected by the rule? Jesus.. im getting dizzy just by typing this
 
hehe works like this

The licenses MA gave the in game banks was a guarantee to the players that they could take out loans against the value of their items, and have it safely returned should they pay back the amount borrowed + interest.

Someone doing this without a license (like in the example I gave) cannot be guaranteed to return the item to its original owner.

So yes in effects, the banks run on a pawnshop philosophy, which they essentially are... but it sounds better if it's called a bank :)

And you can lend people peds in game if your sure they're going to pay you back, there is no problem with that. To take collateral for those peds which would leave the other person in a negative situation should that item not be returned, is a scammer in MA's eyes.... essentially :) lol
 
Wow...



I mean ....




Wow....




Okay... so basically MA is twisting everyones hands, forcing people to blindly TRUST eachother and thus riscing to lose EVEN MORE peds than what we were before?

Great initiative from MA's side, lets get rid of the petty theft and leave more room for grand larson ...
 
exsolvo said:
Okay... so basically MA is twisting everyones hands, forcing people to blindly TRUST eachother and thus riscing to lose EVEN MORE peds than what we were before?
Click to expand...

Actually, MA isn't FORCING anyone to do anything. Some people expressed an interest in wanting to get a loan for the amount of an item, some people expressed an interest in giving out loans for the amount of an item (minus fees and interest), and MA responded by creating the system.

Although it has a real cash economy, there is no way to do the due diligence that a regular bank would do in this game, in terms of income verification, the ability to contact a user avatar in real life, etc.

The only way loans can be provided in a systematic way is through the use of item collateral.

If you don't like the service, DON'T USE IT!
If you don't like the service, DON'T APPLY FOR A BANKING LICENSE!

Simple. :)
 
Sorry for getting this up again, but in the light of the new VU.. they might have a look on this banking system as well. I mean, yeah sure, it would be pretty though to do income verification for them, but I doubt it would be hard for them to offer a savings account for example.. which fits a little bit more to the modern form of banking services then a pawnshop. Ok, we arrived on a new planet and have to start from scratch, but I assume we won't lose the knowledge of banking as this is where the whole RL economy is living from/on.. Ok, maybe people on Calypso had a major bank crisis before they stepped on that ship, but I think after a while they would start it over anyway. :)
 
Foenne,

gratulations to the necro: it's alive!

:rofl:

Tussi
 
Hmmm...
Noob here, looool...

And NOO i havent read all the 145 pages...
Just 4-5 first ones and i just thought, wtf...


So if me an my wife sits and play and she says, Hey love, give me
some ammo. No i cant, ill be blocked and called a scammer... :wtg:


Sad but true...

We doo play together..:yay:
 
HEY!

Weren't these 2 year licenses???

*looks at calendar...*
 
AlphaGeek said:
HEY!

Weren't these 2 year licenses???

*looks at calendar...*
Click to expand...
AFAIK just a guarantee that no *new* bank licenses would be issued/sold within the first 2 years.
 
Stupid zombie just won't die...


Left4Entropiaforum
 
Not that I use them, but H&R has been there for long time now and has proven that they are trustworthy. Anyone that joins something like that do itat there own risk, the same in all loaning busines. Damn I just remembered I loaned some clothes to a soc friend..... No intrest though, so I should be fine.
 
Inifus said:
Stupid zombie just won't die...


Left4Entropiaforum
Click to expand...

Is this what you were looking for

this_thread_wont_die.jpg


LOL thats twice in a day ive gotten to use that :wtg:
 
Nirfu said:
Not that I use them, but H&R has been there for long time now and has proven that they are trustworthy. Anyone that joins something like that do itat there own risk, the same in all loaning busines. Damn I just remembered I loaned some clothes to a soc friend..... No intrest though, so I should be fine.
Click to expand...

Though H&R are renting and not loaning.. and is what i hear, approved by MA

But. isnt the 2year exclusive banking almost over?
 
So what happned with all the banking in the end? Could we decide who was right and who was wrong? I kinda stopped playing pe at the end of this thread, thats how long this thread was going on! :yay::laugh:

Sorry, coudlnt help myself from brining it up to the top just one more time :eyecrazy:
 
...................................
 
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