Bank of X10 Credits (an Idea)

[medphoenix]

I plan to start a bank system for the x10 members.
How it will work?
Answer is.....

1. You have to pay(donation to Bank owner) 50 credits to Be a client (join) of this BANK . This amount cannot be refunded.
2. This bank will help you to save your credits with interests. The minimum amount can deposit is 250 credits.
3. For 100 credits you will get 15 credits interest in a month. In short This bank's interest percentage is 15% per month.
4. Vice versa, This Bank can sell credits for credit. It will give credit for 25% interest per month.
5. more.........

X10 members, Please review this thread and tell me, whether we can have a Bank or not.
And I appreciate your extra Ideas for this bank.
If anybody else would like to run this Bank, then I withdraw from this offer and you can take the position.

THEN WHO WILL BE THE BANK OWNER..LET ME KNOW!
If more people want to be the bank owner, then we can elect....etc...etc....your choice....

 

[Blockis2]

Sounds Really Cool!

 

[jaredlp]

It sounds great but i wanna be the bank owner xD

 

[Swiblet]

It sounds great, but we'd need someone with ALOT of trustworthiness around the forums to be the bank owner.

~~B3N

 

[Loneua Technologies]

We do need a trustworthy person as the bank owner.

 

[cyberxzt]

we use to have an official bank that u could earn interest on, were did that go?

 

[Blockis2]

I like interest...

 

[Soki]

We do need a trustworthy person as the bank owner.

It sounds great, but we'd need someone with ALOT of trustworthiness around the forums to be the bank owner.

~~B3N

I would of said you two... xS I could possibly do this! I do have good trust with people on this forum already (not much, yet). I have taken classes (in high school) in accounting. So, I ask if I may be the person trustworthy for this. As many have said before:

I would not risk losing my service here at x10hosting

 

[Sohail]

I think this would be a really bad idea. The credit system is perfect the way it is right now and i on't think anything should be changed about it...

 

[Jesse]

Im Interested with this...

 

[intertec]

We need to have trust a lot! Can't x10 just install a bank in the forums! I have seen it before in other forums!

 

[Starshine]

We need to have trust a lot! Can't x10 just install a bank in the forums! I have seen it before in other forums!

There was one, but there was a security flaw in it, allowing people to abuse the system - which some did, and so x10 removed it.

Personally, I think this is a bad idea. I have seen this concept on a few sites that had one person or persons operate a "bank" to hold gold or credits, and something happened, ended up having their account froze - lots of people lost out.

 

[sunils]

This credit system is itself nice. why need to have so much confusion on trustworthy and other things. If at all it need to be set up, let x10 set it up and appoint a staff for administrator it. Change the staff once in a month.etc.

 

[VeggieBoy]

I think this would be a good idea. Maybe the forum runners (moderators or administrators) ran it... That would be cool! I don't know though maybe they might to busy. They are the one's I'd really trust with holding my money.

 

[Swiblet]

xD Yeah! Let a staff do it! *points at self* You all trust me, right? *winks at everybody*

~~B3N

 

[DefecTalisman]

I think the idea is a good one but when put in to practice could prove me wrong.

PROS:
-People with next to nothing credits will be able to by a domain (then more than likley default on the re payments).

CONS:
-If the bank owner is not around then how do you get to your credits ?
-What (other than the small 50c and 25% interest) does the bank owner get out of it ?
-How will you enforce the re payments on the loans ?
-If the bank owner can't front the interest earned on the credits deposited then you are going to have a rebellion !

NB: I think that taking up a staff members time for something so menial would be a silly idea.

 

[Gouri]

Yeah. This is good Idea. I will join.

 

[FalseHope]

I would have to trust the person a lot to hold my credits
Maybe someone should get Corey to add a x10 bank, with interest and all It'd be safer than this, In my opinion

 

[eminemix]

This idea is very bad. We don't need a bank.

 

[sunils]

I think the idea is a good one but when put in to practice could prove me wrong.

PROS:
-People with next to nothing credits will be able to by a domain (then more than likley default on the re payments).

CONS:
-If the bank owner is not around then how do you get to your credits ?
-What (other than the small 50c and 25% interest) does the bank owner get out of it ?
-How will you enforce the re payments on the loans ?
-If the bank owner can't front the interest earned on the credits deposited then you are going to have a rebellion !

NB: I think that taking up a staff members time for something so menial would be a silly idea.

There are so many member around here and x10 can hire a new staff solely for this purpose.
But as you said, There are difficulties (not with the hiring of staff but as said in the cons).

If its not worth, then we should drop the idea.