Suggestion - a "bank"

[Ringr]

Hey everyone,

I know we already have a "bank" but it's not the type I had in mind when posting this thread. I think it would be cool if NamePros put on the "bank hack" to go along with what we already have here. It would be nice if you could deposit your NP$ and then gain interest off of it while it sat in the bank. The current "bank" isn't really much of a bank, just a place for people to exchange NP$ for dollars, and dollars for NP$. I think it would be cool to see a bank where you could deposit/withdraw/gain intest for your NP$.

Just a suggestion,
Hope you consider;
Thanks,
-Andy M.

 

[jeter4982]

I think the idea is a good one in concept, but its major flaw would be the imbalanced "economy" of NP $. Some members, such as Scott with 67,000 NP $ would earn hundreds of NP $ per day, whereas someone with 100 NP $ may be lucky to make 1 NP $ a day. The logical solution would then be to make the rate very very low, so the high end users don't make a killing, but then that would virtually eliminate profits for the 100 NP $ member. Good idea, but not practical IMO.

Tom

 

[ZuraX]

This has been discussed before.

If you earned an interest there would be no need to buy or post to earn more NP$. Also where would the money come from to cover the interest earned on the NP$ sitting in the bank?

 

[Ringr]

It's still a win-win or a lose-lose situation. I mean, the more active you are, the more NP$ you get. So in the end, being active would pay off more because the more NP$ you would be able to deposit would get you more NP$ in interest (which I don't think anyone couldn't want). Like if Scott has 67k NP, it only means he is more active in the community (whether it be by posting or by trading) either way - he is adding to the activity of NamePros which I think is something the admins like; and if he can gain a percentage of interest off that daily/weekly/montly/etc it is only going to encourage him to be active at NamePros.

 

[zaros64]

I think the system is fine how it is, some sites have banks on their forums but their members don't have 67,000 points do they?

 

[RJ]

Adding a bank that pays interest out of nowhere for doing nothing would encourage people to sit on NP$ rather than keep them in circulation. That could lead to deflation in the NP$ economy.

NP$ have real value that I back with cash, so if I were to pay interest on deposited funds then I would need to be doing something with the deposited funds to gain value with them -- just like banks used money deposited in savings accounts to loan to others and earn interest for the bank. We don't offer NP$ loans or NP$ investment opporunities at this point, so I don't think a bank would work yet.

Thanks for the suggestion,

RJ

 

[ZuraX]

RJ if you ever do that loan or investment opporunities youll not be allowed to accept Paypal. Its against their Terms.

 

[RJ]

RJ if you ever do that loan or investment opporunities youll not be allowed to accept Paypal. Its against their Terms.

No plans to do so, and if we did, it would certainly not involve PayPal. Thanks for the reminder.

 

[ZuraX]

No problem just figured I would remind you.

 

[Porte]

Because the real bank would use your funds and circulate them to pay you interest on the funds. But how could this be done here? So no, I say that this idea won't work even.

 

[Ringr]

What RJ said about backing it up made sense, so I kind of get it now. It would be cool in the future, but it could bring down the value of NP$ I suppose.