Pooling our gold for a Diablo Bank.

[ggrandwill]

Well it's pretty straightforward, we could have people both lend our money and deposit their money with us.
We would lend them gold so newbies could afford to buy that kickass Buriza or to upgrade their artisan or whatever, charging 5-10% per day, compounded, doubling our capital, like, every week.
We could borrow people's gold, buy crafting materials, use them with our top level artisan and then sell the proceeds at a great profit, once again repaying 5-10% interest back.
A simple website, like the ones you usually find in the EVE banking sector, would have some basic account functionality.
When the bank reaches a certain critical mass, we could use our huge capital pools to create asset bubbles.
We need a real commitment on part of the investors so we could have enough money for our savings and loans activity.
At one point of this thread we could perhaps IPO to other commercial D3 websites like http://www.diablo3artisans.com et cetera et cetera.

In theory, we could start a covert Ponzi scheme and pay the withdrawals with the money of other depositors, although I favor the legit model.

For me, D3 is all about the somewhat commercial metagaming: speculation, bubbles, banking and so on, I'm definitely too old to farm Mephisto.

[galzohar]

The thing is, when it's so difficult to hold people accountable for their actions, you'll have such a high risk in each loan, that the interest rate you'd have to take from the people who do pay back will be insane - Insane enough that nobody will actually take loans if they have any intention to pay back.

Unless you can get some real money deposit as a guarantee (which you probably won't, as people will prefer to use the trusted RMAH and buy gold now then sell it later (or not sell it)), there is really no way this is going to work.

[Enlil]

The thing is, when it's so difficult to hold people accountable for their actions, you'll have such a high risk in each loan, that the interest rate you'd have to take from the people who do pay back will be insane - Insane enough that nobody will actually take loans if they have any intention to pay back.

Unless you can get some real money deposit as a guarantee (which you probably won't, as people will prefer to use the trusted RMAH and buy gold now then sell it later (or not sell it)), there is really no way this is going to work.

He's just asking to get stolen from

[PearlOrion]

Well it's pretty straightforward, we could have people both lend our money and deposit their money with us.
We would lend them gold so newbies could afford to buy that kickass Buriza or to upgrade their artisan or whatever, charging 5-10% per day, compounded, doubling our capital, like, every week.
We could borrow people's gold, buy crafting materials, use them with our top level artisan and then sell the proceeds at a great profit, once again repaying 5-10% interest back.
A simple website, like the ones you usually find in the EVE banking sector, would have some basic account functionality.
When the bank reaches a certain critical mass, we could use our huge capital pools to create asset bubbles.
We need a real commitment on part of the investors so we could have enough money for our savings and loans activity.
At one point of this thread we could perhaps IPO to other commercial D3 websites like http://www.diablo3artisans.com et cetera et cetera.

In theory, we could start a covert Ponzi scheme and pay the withdrawals with the money of other depositors, although I favor the legit model.

For me, D3 is all about the somewhat commercial metagaming: speculation, bubbles, banking and so on, I'm definitely too old to farm Mephisto.

I think a Bank in Diablo 3 is against the TOS/EULA.

[Markco]

I think that a bank for hard core characters would be cooler. Not for gold but for gear.

[AurelianZ]

I think that a bank for hard core characters would be cooler. Not for gold but for gear.

Anything in hardcore is not redeemable so why bother?

[chriscowart]

So, since gold can be converted to real money, this would be the equivalent of loaning real money to random people on the internet.

I already deal with loans to risky borrowers in real life and understand the real risks. Even if this were to avoid being shut down by Blizzard, it wouldn't work. At any rate, this sounds like a dream or a Ponzi scheme.

[stonerdoom]

^ the OP is proposing a ponzi scheme. ..."although I favor a legit model"? meaning, eh, I could go either way. Sir, this is whats wrong with the world today. Please go away. Isn't there enough legal opportunity to rape the general public IRL that you don't have to do it in a videogame? You are "too old to farm mephisto" but not moral enough to consider better business choices. I have no authority in this forum, but this garbage needs to go. I'd lump it in with botting.

[alexlo]

^ the OP is proposing a ponzi scheme. ..."although I favor a legit model"? meaning, eh, I could go either way. Sir, this is whats wrong with the world today. Please go away. Isn't there enough legal opportunity to rape the general public IRL that you don't have to do it in a videogame? You are "too old to farm mephisto" but not moral enough to consider better business choices. I have no authority in this forum, but this garbage needs to go. I'd lump it in with botting.

exactly this.

[semakka]

You should have NOT posted this if you know how EvE Online banks work.

If you just READ about EvE bank works, let me enlight you.

First, a (serious) EvE bank have a CORPORATION wallet that can be CHECKED anytime by ANYONE who have lended or borrow money IN GAME.This cannot happend in Diablo 3.
The EvE economy is quite stabile, the interest rates are low.

The EvE banks HARDLY lend ISK, they make isk by borrowing, trade goods bought with those isk, make about 15% profit and pay 5% interest rates.They do NOT lend small ammount of ISK to a character with 10% interest rate, because it is UNSAFE to do that and LOW chances to see their money back.
They do lend to known corporations and alliances, but bigger ammouts of ISK and low interest rates.Those loans are quite safe, because a known corporation / alliance just needed some FAST isk, can esily repay the loan...and if they do NOT, that corporation or allaince is quite doomed.The mercenaries will KILL their pilots and destroy their ships and belongins until they are dead or pay back the loan.

In EvE, you can do that, in Diablo 3, you can't.In EvE, when you have you thingies blowed up (ships, POS'es) you LOSE isk.

Imagine a WoW PvP, where the dead guy can be LOOTED of his gear.This is EvE....you lost a ship or a POS, you MUST buy another.This is preety much WHY EvE banks are in businnes.