NP Bank

[webscorpion]

How stable is the NP Bank?

If we all try to exchange our NP$ at the same time, does the bank have enough to service everybody?

Hope this question doesn't cause a "bank run"

Regards.

 

[GCgirl4ever]

The bank charges more than others do.. and they pay less as well. The "bank" has an unlimited supply I believe.

 

[Tekim]

Originally posted by GCgirl4ever
The bank charges more than others do.. and they pay less as well. The "bank" has an unlimited supply I believe.

It has as much NP$ as cash that RJ is willing to take

 

[redhippo]

you can never out run this particular bank.......good to know that someone is concern about the NP economy too:tri:



:gn:

 

[webscorpion]

It just crossed my mind coz my bank here in Manila almost suffered a bank-run last week

I think NP Bank is more stable than most Commercial banks

 

[RJ]

The bank is stable, and is backed by cash for every NP$ in circulation. Additionally, there is a NamePros law that bank rates will not change without 10 days public notice.

 

[Elefekt]

i am not worried. If it gets messed up we shouldnt expect that the np will be covered because after all even tho it is a stable currency it is just for this forum so it shouldnt be bad if it all of a sudden dropped which i doubt it will.

 

[webscorpion]

Originally posted by -RJ-
The bank is stable, and is backed by cash for every NP$ in circulation. Additionally, there is a NamePros law that bank rates will not change without 10 days public notice.

Thanks, RJ

 

[Whisper]

Originally posted by webscorpion
Thanks, RJ

Yeah, it's good to know we've put our money in a stable, strong bank

 

[Coastalguy]

Robber-proof too, I believe.

ST

 

[webscorpion]

Originally posted by Coastalguy
Robber-proof too, I believe.

:lol:

 

[RJ]

I've been giving this some additional thought lately. Is there anything else that can be done to ensure NameBucks can be considered a stable currency for small dollar value transactions?

 

[Elefekt]

im not sure if you have this or not but i think that having a seperate like paypal account for the bank. Maybe charge a small payment for the live auction. to sell it you may charge like 5np if you want to sell or something... Im tired its midnight so if this sounds dumb just disregard it.

The un cool but probably sure thing is if you be like DNF and charge for use.

 

[armstrong]

Originally posted by -RJ-
I've been giving this some additional thought lately. Is there anything else that can be done to ensure NameBucks can be considered a stable currency for small dollar value transactions?

How do real governments stabilize their currencies? They tinker with supply and demand, usually by adjusting interest rates.

 

[webscorpion]

Maybe someone with a background on banking/finance can chime in with his/her thoughts or suggestions.

 

[Elefekt]

Originally posted by armstrong
How do real governments stabilize their currencies? They tinker with supply and demand, usually by adjusting interest rates.

Yep they change as times change. And they take tax.

 

[Jeff]

Originally posted by webscorpion
Maybe someone with a background on banking/finance can chime in with his/her thoughts or suggestions.

I have a bit of experience here ... and to do generally with "Monetary Policy".
Definition:

Means by which the Federal Reserve uses to influence the availability and cost of money and credit. This is used as a means of helping to promote high employment, economic growth, price stability, and a sustainable pattern of international transactions. The primary tools of monetary policy include open market operations, discount policy, and reserve requirements.

I would say rather than utilizing such things as money supply, liquidity, interest rates, or fluctuating required reserves, that we look to increase the available offerings (ie., "network") for NP$'s ... beyond the staple (and very vital) domain names, web hosting, templates, logos, so on and so forth. Expand this sideways to include site design, development, customized hosting plans, script/coding work, as well as potentially incorporating the NP$'s as a viable currency within the new "Marketplace" for the purchase of domain names (along with Paypal, etc. obviously). Ensuring that folks continue to earn NP$'s through their contributions in the threads and it's availability on a market-driven "NP$ Exchange" while making more -and- value-added products and services should ensure long-term stability of the currency itself, IMHO.
We are extremely committed and highly sensitive to providing the best bang for the "NP$ Buck" ... now and in the future!
-Jeff

 

[Elefekt]

The idea of running multiple forums with the same currency if possible will probably increase stability. This would take a bit of work yes but probably increase the value of the currency.