Certificate of Deposit- Bank Update

[terminator]

In real life, you have the option between CoD, Savings, Checking, each having an easier liquidity respectively. I do not see a credit system itself working in FT, because it is hard to assign values to items, that will encourage people to pay off their debt....I do not see how you would implement a saving system either.....However, a CoD is interesting in that, you cannot remove your money without a penalty, and you choose how long you want it to be left in. This could be useful to players who have lots of gold, and dont do much with it, and would like to see it grow. However, it is understood a new player would be very confused on why they cannot access of their money......Here is my idea

Go to bank, You can click it like a house, it has two options, inventory or CoD interface.

CoD interface:
Text: You can store your gold in here, and earn interest over time. CHOOSE WELL YOU CANNOT ACCESS YOUR MONEY AFTER 1 DAY OF STARTING DATE UNTIL FINISH DATE.
Enter Gold Amount: (Input)
Set Reclaim Day: (Maximum 1 Year)
*50% Fine to retrieve gold before specified time
It could be a fixed amount, such as 1.02x (x being gold put in) per day, or the longer it is placed in, the greater the interest. Here is an example of one equation, a simple compounding daily one, Profits=(1+.02/365)*365*T. If I put 2,000,000,000 gold in after 20 days in, I would have 2,983,616,669 Gold. The longer you put your money in, the more you get:)

[terminator]

The equation was much more complex before.....But I was advised to keep it simple.....was gonna use a sinusodial flux inside it to, to simulate a boom and bust cycle with a steady inflation linear trend....but whatever lol. Took me an hour to make a cool looking function, then 1 minute to do the one I actually used:/

[Leone]

I've never heard of that term: certificate of deposit. (That's an aside).

Also, this will make the (solitary) bank VERY busy. If implemented, we need more than one bank!

I wonder about the interest rate. After 20 days, 2B gold increases to almost 3B. That seems to be a bit high.

Nice idea though:)

[Humble_M]

I've never heard of that term: certificate of deposit. (That's an aside).

Also, this will make the (solitary) bank VERY busy. If implemented, we need more than one bank!

I wonder about the interest rate. After 20 days, 2B gold increases to almost 3B. That seems to be a bit high.

Nice idea though:)

Yeah, that example's interest rate is almost 33%...not even close to reality! Now, if the interest rate was 0.05% (0.0005), it's better. As for increasing bank volume, why not just add this function to houses as well? Maybe players can create the CoD at any house or the bank, but can only withdraw the funds at the bank.

Also, can players have multiple CoDs?

[SellSword]

Also, this will make the (solitary) bank VERY busy. If implemented, we need more than one bank!

Interesting idea in general. Definitely would need to cut down the interest rate as I don't think a major money maker would be the entire idea. Probably more in line with what Humble_M has laid out.

On the bank issue, it would still be great if you could access it from all sides or from a distance like a house. Just tap on it and the storage icon pops up, so basicslly a limited house without the crafting. That's not entirely a new suggestion though.

[terminator]

Interesting idea in general. Definitely would need to cut down the interest rate as I don't think a major money maker would be the entire idea. Probably more in line with what Humble_M has laid out.

Yup, the formula was just an example to help people understand what was happening, but also be able to actually see a change over time

[Gullander]

On a side issue concerning finances I would like to see a recalculating of item values to greater reflect the what a player is willing to pay less a percentage. For example currently a mithril tool might sell to players at 200m to 250m at 0.0 and shops only pay 4m! 100 m or 125m might better reflect it's real value and the cheating shop owners can still get their payday! Many other items especially those harder to get should sell at shops for more than the current rate.

[Humble_M]

On a side issue concerning finances I would like to see a recalculating of item values to greater reflect the what a player is willing to pay less a percentage. For example currently a mithril tool might sell to players at 200m to 250m at 0.0 and shops only pay 4m! 100 m or 125m might better reflect it's real value and the cheating shop owners can still get their payday! Many other items especially those harder to get should sell at shops for more than the current rate.

All of this may be true, but it diverts from the OP. Perhaps you should start a new thread?

[terminator]

Perhaps this is the new finance thread for FT?

[Gullander]

Sorry for the diversion...you are correct. My bad.