A Bank

[MattnJoel]

To All Staff,
   I was thinking that mabey it would be kind of cool if u made banks for people to put money into by turning the money into blocks. Like for instance lets say netherrack at the market u buy 500$ worth of it and put it into a bank and when u need to get money to buy something u can take ur 500$ from the bank.

[☣2crzy4uall☣]

Thats kinda cool, but really not needed, i mean imagine being in the market and having to go to the bank because u didnt have any cash, lol no point haha

[Chief149]

I could see how this idea would work. You have money on hand, and you have a bank, and if you die you lose any money on hand, but none in the bank. Eh, I guess it's ok. I mean, the minecraft life is complicated enough though.

[Saeberus]

Would be cool if the economy were different. Players keep there money with either no limit or an extreme limit (not sure) so for now banks are useless.

[MattnJoel]

I just thought mabey..... in the future u know not rite now

[ViperZeroOne]

I'm confused by this whole thing...  You have a bank account, it's /bal...  If you're talking about being able to turn a block of an item into money, you can do that too by selling at the market...  You don't loose money if you die...

I don't see the need for a bank, unless I'm missing something here.

[ScottishChamp]

Do you mean like a bank so you can store money away for something you can buy which is like 100k then you put it in your bank to store.So you dont spend it if its in your /bal?? if so thats not too bad idea.

[Spamarian]

I have some ideas for the bank, as an investment plug-in for the players, but it will be complicated and I dont know what you would think about.

[ScottishChamp]

Well spam i would love to hear.

[Spamarian]

In an approach to make yound and old understand some things about banking, which means that I am not the expert, but I have studied some procedures, I could bring some ideas to more a gaming environment.

First of all, a bank, as a common deposit account that everyone could have entries. All the money are collected into a sum but registered to names, that probably we could look at, with a way of database query.

An idea that just came into my mind.
We could make a system that will benefit with an interest(%) the depositors according to their votes. For example, 0.005% interest for each vote, on your last deposited amount. It may be small, but I dont think it is nothing. It is a benefit of 5/1000 in your money everytime you vote, for your most recent deposit.

But, as it is logical, with the term bank, we could also lend to others money for their needs. An interest of about 2% each week on the loans' amount will be withdrown from the /balance of the player, till he deposit the whole amount. So, we need an option that will compute the actual amount that needs to be returned into the bank, and the amount of interest.

The profits that the bank will have, assuming the interest is set to 2%, will be divided proportionally to the players that have deposited money to the bank, and these "dividends" will be distributed once a month.

Let me know what you think. I believe I gave a complete view of my thoughts, and a system that could be established.
If any questions exist on the calculation of the interst, I can give the answers. But the most formulas can be figured out by mind.

[ScottishChamp]

In an approach to make yound and old understand some things about banking, which means that I am not the expert, but I have studied some procedures, I could bring some ideas to more a gaming environment.

First of all, a bank, as a common deposit account that everyone could have entries. All the money are collected into a sum but registered to names, that probably we could look at, with a way of database query.

An idea that just came into my mind.
We could make a system that will benefit with an interest(%) the depositors according to their votes. For example, 0.005% interest for each vote, on your last deposited amount. It may be small, but I dont think it is nothing. It is a benefit of 5/1000 in your money everytime you vote, for your most recent deposit.

But, as it is logical, with the term bank, we could also lend to others money for their needs. An interest of about 2% each week on the loans' amount will be withdrown from the /balance of the player, till he deposit the whole amount. So, we need an option that will compute the actual amount that needs to be returned into the bank, and the amount of interest.

The profits that the bank will have, assuming the interest is set to 2%, will be divided proportionally to the players that have deposited money to the bank, and these "dividends" will be distributed once a month.

Let me know what you think. I believe I gave a complete view of my thoughts, and a system that could be established.
If any questions exist on the calculation of the interst, I can give the answers. But the most formulas can be figured out by mind.

That is a very good idea spam good thinking.

[Wolf]

No I don't like the idea.

[KCB38]

The profits that the bank will have, assuming the interest is set to 2%, will be divided proportionally to the players that have deposited money to the bank, and these "dividends" will be distributed once a month.

Only issue I see with this is: What if a player invests in the bank, takes out a loan, pays it off. When the month comes, they get back money that should have gone to the bank, but is returned to them. Yes, they wont get the full 2%, but they still get some. Unless we're going to make this like tax returns....

[Spamarian]

I believe I described it clearly. If he invests, he gets interest only at his last invested amount, and not in the whole amount.
Let's say he gets a loan even if he has deposits. He gets interest with every vote for the money that he has in, but he pays 2%/week for his loan, untill he return the whole loan back.
When the month comes, he will get a small % for the amount he has invested in the bank.

So, he has paid taxes, he has given back the money, he has been served and bought what he needed, and at the end, he gets some returns from the system.

[KCB38]

I believe I described it clearly. If he invests, he gets interest only at his last invested amount, and not in the whole amount.
Let's say he gets a loan even if he has deposits. He gets interest with every vote for the money that he has in, but he pays 2%/week for his loan, untill he return the whole loan back.
When the month comes, he will get a small % for the amount he has invested in the bank.

So, he has paid taxes, he has given back the money, he has been served and bought what he needed, and at the end, he gets some returns from the system.

So effectively, what i described is not an issue and part of your system. However, I do now see another potential issue. We cant make the economy in Opticraft too complicated, or else the younger players will not understand it. Granted, they could learn... But for the *ahem* morons, this will be way over their heads.