Clarification about Entropia banking operations

[Congadawg]

All these talk of banks, bank liscenses, etc..... these aren't banks anyways. They're credit institutions. In the state I live in, you do not have to have a liscense to opperate a credit instituion and issue loans based on an agreed amount of interest or fee, so when people say "Just like IRL, you have to have a liscense....." no.. you don't. I guess it depends on where you're from, because I know some states wont approve these institutions due to their outrageous interest rates, and the fact that they are not liscensed. The US isn't consistent... why should a video game be.

I understand MA's reasoning on the "policy" change for protecting investors... but their lack of tact has left so many people frustrated, that I think their PR has threatened their investers more than the freelance loan services EVER could have. It'll be interesting to see how it all plays out.

[Skippie]

Originally Posted by JohnCapital

I could just quote everything Skippie and Etopia said, since it's all right on but I might need a publishing license.

our posts got modded out?

huh? why on god's green earth did that happen?

you know in a former life i worked for a press association in college. i have worked for many media outlets and ad agencies in ad/pr. one reason i am so happy to be an american is my first amendement and rights and my ability to use it. it is for that reason that i support our troops. to some of us, the right to shoot our mouth off and express our opinion, even when wrong, is just that important. as a pr specialist, i gotta say some things, then.

that stuff from marco on this type of bank is poop. marco is a talented pr guy, really. takes one to recognize one. also, it don't take a smart man to recognize poop. i like to not step in poop. i paid too much for my converse. i just spoke with akoz in game, and well, i am more impressed with his "rouge" bank than ever before.

you are not going to find many fresh spawned noobs, in line to akoz and cindy bank. while i appreciate marco's sense of compassion for noobs, (great to see such a thing from mind ark, sometimes it's hard to tell they care at all for noobs, really), i still think the statement has very poorly hidden objective from the corporate end to protect their investors. and when i say marco is afraid for noobs, yes, i think several of those bank owners have already proven themselves to be quite noobish.

"i just bought a bank, what's an imk2? how much should i loan on it?"

give me a fucking break.

yeah, compassion for noobs, i get it. but i am not impressed.

i am not often impressed with poop.

poop, poop, poop, and more poop, if you ask me. pretty plain to see it. marco, this has not been your best piece of pr work. perhaps you are too tired from jetlag from china to do pr, atm. i would recend this comment. i am almost 99% sure i will never deal with any licensed bank on this statement. before i was receptive. now, i could care less for those bank owners and their investment. i think my feelings are not alone in the community. merely read this thread. i think your pr has destroyed a large bit of the promise for the industry you meant to protect. bad move, marco. no scoobiesnack for you, bro.

[Skippie]

oh nevermind, i see our posts were not modded, haha.

thank you for preserving my first amendment rights to call poop poop when i see poop, skamster and 711. thanks.

sorry i got confused a bit by john's statement.

[JohnCapital]

Originally Posted by Skippie

our posts got modded out?

huh? why on god's green earth did that happen?

No, sorry. I wasn't saying your posts were modded out. I was simply saying I agree with you and Eto.

EDIT:
ah, you noticed.

[Nihilist]

Originally Posted by Skippie

"i just bought a bank, what's an imk2? how much should i loan on it?"

give me a fucking break.

yeah, compassion for noobs, i get it. but i am not impressed.

i am not often impressed with poop.

bwahahahaha... MA just scammed some noobs outta 400k...

- ; P

[Skippie]

i just scammed eps out of a mall!!!!

jk, haha, jk, guys.

i would like to say that i did find it funny that some ppl that bought banks didn't understand what they were buying.

course ppl buy low eco guns and hunt with them.

but i have long felt neverdie and anshe were going to be the players on the bank scene. now i view akoz and cindy as the preimenent bankers on that scene. i hope for the purposes of my respect for jon and anshe, they take steps to get their business in order, regardless of mind ark's inablity to launch their banks on this last vu.

i think that inablity to follow through is hurting their investments. marco's statement is just more fuel for that fire, imho.

[Teilk]

I would like to say that I fully understand MA's interest in not only protecting the investments of those who believe so fully in the future of EU, and also the general population who may end up getting confused as to what banks are backed by MA and what banks are not. There could eventually be an issue of liability if someone were to lose a large sum of money.


I also demand a retraction of the words "attempted scammers" when referring to the businesses of those who have put so much time and effort into building a reputation solid enough to successfully operate a trust based business.

I think that MA owes all of us a very public and very sincere apology for the implications if not outright accusations that have been made.

These words used in reference to any of our respective companies will end up doing us all much harm, as even the hint of the word "scam" can impede the building of new customer relationships in whatever business we choose to move on to. That would be quite harmful to our long term goals within the EU, and though we may not have invested hundreds of thousands of dollars, small business operators are still an integral part of this universe.

[EarlVonKippler]

Originally Posted by Mikah

You fail to see the bigger picture, this isnt about Akoz, this is about the freedom of every player in Entropia...

For those who believe this doesnt affect them, it does... its regarding the basic foundation of what led many here to play Eu- today there is a "clarification" about a policy that was never there, tomorrow what will it be?

This 'game' was meant for investors and players to co-exist with one another, without each other, the economy wouldnt be balanced...

Its about consistancy...

i have to agree. for me it never was about 'banks' or even akoz. it was the wording of the release, the timing of the change, and the inconsitancy of the change. it was like anshe and her new forum being able to sell shares and talk about 2nd life. it wasn't the fact she was doing it, but rather the principle of the matter. one day something is legal (loaning) the next it isn't. these banks have brought nothing but trouble, and as long as MA neglects actually putting them in game it only gets worse. who even wanted banks in the 1st place? i wanted more item loot, better transportation, plots finished, and more LAND AREAS!!! to buy. what good is a bank?? i want a market crash so items are again reachable, not MORE inflation.

[Gray Darkman]

Lets just get to the basic nuts and bolts of it all..Those who have the money make the rules...MA loves certain ava's and give them carte blanche on whatever they wish usually...Its wrong in every aspect....I support the right for an individual to do as they wish to make money in a lootless society....I think the services being provided by Akoz and co. were a needed service..And I trust them....I am sorry to see MA becoming a no longer free virtual universe but more of a casino where the house always wins no matter what..

[TrinketSoul]

So our Trust scammers can run off with k's of ped and make a new avatar and you won't ban them, annnnd On the other hand now we are going to criminalize people from competing fairly and openly (because of the damn banks)?

MA

whatever...

-rep Bertha Get the damned priorities straight