Bank, anyone?

[Sourikus]

Just a show of hands... would you like to see some sort of central bank in the near future?

(don't rule it out)

[Lex]

Might I add that I don't see why we need a bank when you can start a trade (far, far less complicated) and put gold in it?

[ShaiNeko]

Is there an actual plan behind this idea? Do you know what a bank would need to be functional?

[Sourikus]

Is there an actual plan behind this idea? Do you know what a bank would need to be functional?

Gold? *shrugs*

I actually do have a draft plan, but since nobody wants to hear it I won't elaborate.

[Tekla]

Is there an actual plan behind this idea? Do you know what a bank would need to be functional?

Gold? *shrugs*

I actually do have a draft plan, but since nobody wants to hear it I won't elaborate.

People tend to be more receptive to an idea, or at least more willing to listen, if you actually tell them how you think it will work and any pros that go along with it.

[Jeh]

Is there an actual plan behind this idea? Do you know what a bank would need to be functional?

Gold? *shrugs*

I actually do have a draft plan, but since nobody wants to hear it I won't elaborate.

It might be good to post it in the original post, then people can debate over the plan, and offer suggestions or critique it.

[Sourikus]

Me to Blazen:

Okay!

I was thinking of somehow having a banking function which would allow users to deposit money, and then from that pool others can take a loan

In this way it's not so much a bank but a community pool of money. (And, of course you have to return the money! Or else it'd just shrink)

However, I then brought up the possibility of charging interest, and banking services. Then it kind of became a lot more complicated.

Also, there is the question of where to put everything, and whether to request collateral?

Might I add that I don't see why we need a bank when you can start a trade (far, far less complicated) and put gold in it?

Trades don't give you interest and the money goes nowhere.

[Tekla]

Me to Blazen:

Okay!

I was thinking of somehow having a banking function which would allow users to deposit money, and then from that pool others can take a loan

In this way it's not so much a bank but a community pool of money. (And, of course you have to return the money! Or else it'd just shrink)

However, I then brought up the possibility of charging interest, and banking services. Then it kind of became a lot more complicated.

Also, there is the question of where to put everything, and whether to request collateral?

Might I add that I don't see why we need a bank when you can start a trade (far, far less complicated) and put gold in it?

Trades don't give you interest and the money goes nowhere.

Unless you have a plan to give people back their money when they request it, that is a very bad idea. What if people come to claim their money but you've sent it all out in loans? People are going to get angry very quickly over that.

[Sourikus]

Which is why I'm kind-of saving up. I've got a few k, and if people contribute enough (huh yeah I know wishful thinking) there could could be enough, so yeah hopefully everyone actually pays back the interest.

[Jeh]

Me to Blazen:

Okay!

I was thinking of somehow having a banking function which would allow users to deposit money, and then from that pool others can take a loan

In this way it's not so much a bank but a community pool of money. (And, of course you have to return the money! Or else it'd just shrink)

However, I then brought up the possibility of charging interest, and banking services. Then it kind of became a lot more complicated.

Also, there is the question of where to put everything, and whether to request collateral?

Might I add that I don't see why we need a bank when you can start a trade (far, far less complicated) and put gold in it?

Trades don't give you interest and the money goes nowhere.

Okay, here are some things you have to think about assuming you run the bank (or any other player as banker)
1. How would you earn the gold to pay interest?
2. What if someone wants their gold or loan on a day you are not available online?
3. Who runs the bank if you lose interest in Magistream?
There are more issues but those three would be right on top of the list.

For someone depositing with you:
1. Would they deposit large amounts of gold without any security?

For someone taking loans:
1. What would be acceptable security? Some one having lots of rare creatures probably already has access to a lot of gold, someone like me does need the gold (a lot of it) but has hardly any rare creatures.
2. When do you decide to declare a loan has gone bad and how do you recover it?

For a central site run bank:
If I were the site owner, I would not do it, because there are enough ways to earn gold in magistream provided by the site

• Posting
  Clicking on any unfrozen creature
  Selling creatures
  Selling art...

The only way the site seems to have to remove gold from the system are the shops and the koi pond. I may have missed some other ways too.
Having the bank means one more way for people to earn gold and this is effectively free gold, because other than depositing gold in the bank the player does nothing else to earn it. The long term repercussions of that on Magistream economy will cause havoc of sorts.

As a player without much gold, having a place to be able get loans definitely sounds good, but how would I pay of my loan.
If I have to mine gold or earn gold some other way to pay of the loan, then I might as well earn it and save it in some trade and use the gold to buy things.