[??] A bank of Altera

[Electric]

this is a placeholder thread that I will update with info soon

Asero is making an independent bank and I AM LAZY AND WILL NOT SEARCH BANK ON THE FORUMS TO SEE IF ANYONE ELSE HAS MADE ONE BEFORE AND AS FAR AS ASERO IS CONCERNED THIS IS HIS ORIGINAL IDEA AND I THINK THE SAME Ok so this is not the first bank in Altera BUT it's the first bank to aspire to be wide spread + not owned by any Houses or anything like that.

cool so with that out of the way it will be a way to borrow money IC for war, settlements, just small expenses, etc. Not owned by a house so it will be independent.
That's uh
That's what makes it cool and all new
It isn't owned by a house/it isn't limited to a specific region/it deals in IC radiants and not emeralds/It's owned by an idiot OOC

What will be offered:
- Loans
- Storage of assets and money like in a regular bank
- Possible opportunities, you'll see

 

[Electric]

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[Electric]

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[Electric]

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[Electric]

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[Blorbis83]

yay

Now that banks are a thing- I can use checks without people doing, "UHM ACKVHYUSLLY"

 

[Archbishop]

Thread cleaned.

 

[pyrocide]

Cromarcky attempted this years ago. Word of advice is that you're going to want to check with staff to see if they'll OOCly back any loans you hand out, meaning that they'll pull the funds from someone if they refuse to pay. Reason the Cromarcky bank didn't really take off is we were told staff wouldn't do such a thing. That meant players could just take money from you and never have to pay it back, which of course made loaning people rads far too risky of a business. That was years ago though, so staff may have changed their mind on the issue; still a good idea to check.

 

[Swiftspear]

Cromarcky attempted this years ago. Word of advice is that you're going to want to check with staff to see if they'll OOCly back any loans you hand out, meaning that they'll pull the funds from someone if they refuse to pay. Reason the Cromarcky bank didn't really take off is we were told staff wouldn't do such a thing. That meant players could just take money from you and never have to pay it back, which of course made loaning people rads far too risky of a business. That was years ago though, so staff may have changed their mind on the issue; still a good idea to check.

OR you know you could put out a hitlist on them

 

[Electric]

Cromarcky attempted this years ago. Word of advice is that you're going to want to check with staff to see if they'll OOCly back any loans you hand out, meaning that they'll pull the funds from someone if they refuse to pay. Reason the Cromarcky bank didn't really take off is we were told staff wouldn't do such a thing. That meant players could just take money from you and never have to pay it back, which of course made loaning people rads far too risky of a business. That was years ago though, so staff may have changed their mind on the issue; still a good idea to check.

For now this is just an IC bank It can help people who have the OOC rads, but not the IC rads.

 

[Baron]

For now this is just an IC bank It can help people who have the OOC rads, but not the IC rads.

Does the bank have ledgers showing where its money came from and who's borrowing it at what rates?

 

[pyrocide]

For now this is just an IC bank It can help people who have the OOC rads, but not the IC rads.

So... you want people to come to your bank, when they already have money (ooc), to roleplay getting money (ic), from someone who doesn't actually have money (ooc)?


If nothing else, I can say for sure that is a first for hollowworld.

Edit: forgot to address:

OR you know you could put out a hitlist on them

You could, but a player could just borrow the money on an alt, then never play the alt again.

 

[Electric]

Does the bank have ledgers showing where its money came from and who's borrowing it at what rates?

I tend to keep these sorts of things very organized, so yes.

So... you want people to come to your bank, when they already have money (ooc), to roleplay getting money (ic), from someone who doesn't actually have money (ooc)?


If nothing else, I can say for sure that is a first for hollowworld.

Basically, I mean you can't just look at your /money and go "Yup this is my character's wealth!" because that is OOC money. You have to actually do iRP things to earn IC rads, so one could use this bank to borrow IC money so that they can just do what they want without having to spend months gaining up IC rads. And, it's not like you would just borrow money and never give it back- if you don't pay up by the deadline, there will be consequences. That, and just the fact that this bank is a means of letting people store their wealth in a safe place.

 

[Archbishop]

Speaking of hedging risks, any time I lent money, I always had it backed in collateral. Usually it was being added as the primary owner of a region. And if the installments weren't made, I was able to refund the region. Granted, I never did, but it was a decent enough incentive.

 

[Archbishop]

Granted, I should probably add that that was a one time affair and that the amount I loaned was 75k.

 

[Electric]

Gonna give this more thought
Thanks for the criticism, sorta prompted me to go over the idea again, which is always good

 

[Djiboutian]

you allowing savings or retirement were we give you all of our money and we get it back with interest later?

 

[Electric]

you allowing savings or retirement were we give you all of our money and we get it back with interest later?

M A Y B E

 

[Baron]

How does Asero justify his having the wealth of a bank? If you run a bank with actual backed up wealth, you can ICly move money around sure. However, all transactions in HW are done with Radiants, which are innately unbankable.

The Radiant does not inflate or deflate. It is absolutely secure in the hands of the owner, who has an immutable Vault account with that money in it, where it can't be stolen or lost. Radiants cannot be created through work or inflation; the only way for a Radiant to be created is to do the votes or to have them rewarded in an extraordinarily rare Staff /money create type of thing.

There are no investments which generate revenue for a bank to act as a risk distributor. A bank therefore can't make more money from less money like real ones do. The only "investments" which exist are ultra-long term region refunds, which reward the players with the most land and longest playtime through massive refunds of their sinking huge amounts of money into regions at >100%. For example, I ran a region in the top 15 largest on the server, which was basically just a huge wheat field. When it refunded with no transfer, I got at least 20% up on it along with all that I'd sunk into making the region.

There's no government bonds nor company shares, so investing doesn't exist. Using IC Radiants as a substitute currency for OOC Radiants is an interesting idea, but as with all money, you'd need to get people to accept that they have value (and you would still need to manage the cash flow and issuance of your budding new economy/currency). It's not impossible, but it's a tricky job that you're going to need a lot of people to be onboard with.

 

[Baron]

Consider, for example, the guarantee that IC Radiants issued by the bank are worth something, and are worth using in trade deals. What backs the IC Radiant? How is it issued?

If it were me, money should represent time. In Minecraft, you essentially earn XP over time, so that's a decent enough substitute. With the assumption that people would rather trade your money around than cash it in (e.g. buying gold from a bank in a gold-backed system), you could issue notes, signed by Asero, guaranteeing the bearer the amount of X XP for the note.

The OOC Radiant itself guarantees that each Radiant is worth 1/20th of an emerald, or 1/180th of an emerald block. But what can you even do with emeralds that makes them have a point? They're kind of purely decorative, and so rare in terrain generation that there's no point in trying to find them to collect a payday.