Banking, how does it work?

[ThomPhoenix]

There will only be interest if you can also loan money from the bank, and if the banking system can force one to pay interest. Otherwise the system would just generate free money and make the already flawed economy even more flawed

[Zetsumei]

There will only be interest if you can also loan money from the bank, and if the banking system can force one to pay interest. Otherwise the system would just generate free money and make the already flawed economy even more flawed

In other words, you'd only be allowed to make free money if the bank could also function as a leg-breaking loan shark.

[ThomPhoenix]

Of course. If person A loans 100.000 trias from the bank at an interest of 5%, and person B deposits 100.000 trias on his bank account, the bank can grant him 4% interest. They'll keep the other 1% as profit. If you grant persons 4% interest on their bank accounts, but the bank doesn't give loans, then where does the interest come from? From oblivion? So yes, we'll get loan sharks in PS

* ThomPhoenix prays for low interest rates.

[Zetsumei]

If you grant persons 4% interest on their bank accounts, but the bank doesn't give loans, then where does the interest come from? From oblivion?

* ThomPhoenix prays for low interest rates.

I've never known any bank, real or otherwise, that has the funds on-hand to give the interest that they do.  Hell, some internet-based ones are nothing more than ponzi schemes, but as far as I know, it's not practical for a bank to do that, as it's unlikely that every customer will ever demand a refund, along with their interest, at the same time.

I wonder if PS banks are FDIC insured? 

[Liadan]

* Liadan grins

will we get 'ABMs' ?

[Loach_Tigerfang]

This is all intersting stuff, but where is the bank in the first place

[Erisnas]

Interest rates will be hard to put in considering some people's playing schedules.  If take out a loan and don't play for a month one you come back will you be stuck and unable to pay the extra interest?  Or will some one just put all the money on alts and forget about them for a year.  So if that is going to come in-game we will need to work out some things.

[Pandar]

Interest rates will be hard to put in considering some people's playing schedules.  If take out a loan and don't play for a month one you come back will you be stuck and unable to pay the extra interest?  Or will some one just put all the money on alts and forget about them for a year.  So if that is going to come in-game we will need to work out some things.

The easy way to handle interested would be that it would be based on time logged in. Say you pay or get paid .05% interest per hour played.

[neko kyouran]

and then people will complain that because PS has no auto log out after an amount of time that a player is afk, people can stay logged in 24/7 and accumulate wealth without having to do anything.

[Erisnas]

Just have it per real day that you logged on.  That way whether you are just logging on to get interest or play it is the same outcome.

[TDB]

and then people will complain that because PS has no auto log out after an amount of time that a player is afk, people can stay logged in 24/7 and accumulate wealth without having to do anything.

You sure about that?

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[neko kyouran]

that's how it may be now, but if you look at the long term, when the server is stable and is up almost all the time, my statements hold true.

[Liadan]

that's how it may be now, but if you look at the long term, when the server is stable and is up almost all the time, my statements hold true.

here's hoping people will still be using ethernet rather than wireless networks...=P if they don't then you'll have nothing...or close to nothing, to worry about.

[Ilirion]

... riiigghhtt. Besides the item storage, which is a good idea, and the guild storage, which is good too, personal tria banking has no sense since we don't loose items or money when we die, which, added to the frustration of escaping the death realm, is NOT a good idea.

Yep! I'm a noob acting like an expert! I steel need to create a character anyway.

[Zhaxor]

The greatest benefit of the bank, as far as I can see, should be the to the guilds.

For instance a guild can have a large bank account that members can draw on to buy stuff, ie: you are in Oja and a player comes in  with 68 gold ore to sell but you don't have enough money on you, you pop down to the bank and draw out a temporary sum from the guild account and buy the gold, smelt it, sell it and return the capital you withdrew with an extra guild fee for the use of the account. Of course this does require that all guild member can draw money, to be fixed later I understand, and maybe with a fixed draw limit for each member set by the guild master so that one disgruntled member can't go in and pinch the entire guild capital in one hit, and more branches, again a future feature.

As far as item storage is concerned it seems to me the bank shouldn't be doing that except for maybe gold and maybe silver, you should simply be able to walk into a warehouse or storage area and talk to someone like Jayose and rent a storage locker for a fixed fee.