Suggestion FP$ Bank?

Discussion in 'Community Matters' started by Bryn, Dec 16, 2018.

  1. Bryn

    Bryn Paragon

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    This is something that I think would be beneficial for the community, even when it comes to the occasional "post for FP$" exchanges that I liked doing before, and other things. Although one can get 10k FP$ by paying a small amount of real money but as someone who's always strapped for cash and doesn't wish to make frivolous purchases online (especially of how that transaction's going to appear on my bank statement), I would prefer an alternative. Hope anyone here understands where I'm coming from. Thanks :)

    Also that this would be good for anyone wishing to donate their large sum of FP$ that may go unused for some time. Something to consider, eh?
     
  2. fantanoice

    fantanoice Madly Diligent

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    Not sure what you're asking. FP for cash exchanges aren't allowed here any more.
     
  3. Ash

    Ash Seasoned Veteran Community Team

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    If I'm not wrong, I think he wants a loan system basically.

    Joshua already does this, although it's not official. He has pretty good terms as well
     
  4. Empire

    Empire Valued Contributor Valued Contributor

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    The rule in place some time ago regards paying for FP$ that's not allow and so one one can buy and sell, it's just earn it the old way. So thinking on a loan system then huh?
     
  5. Bryn

    Bryn Paragon

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    You are absolutely right. Also, I didn't know that sort of thing was already in place... interesting to know ;)
     
  6. Ajay

    Ajay I'm The Captain Now

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    Right now, loan systems are allowed. It does make sense to have multiple loan systems competing though. Seems kinda interesting. :p
     
  7. Joshua Farrell

    Joshua Farrell Administrator Administrator

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    SO yeah, if you have forgotten, we updated the FP buying and selling policy probably 6 months ago, around the same time Cameron bought the forum, so no FP cash can technically be bought or sold for with actual currency, including cryptocurrency by interpretation.

    So yeah, while I do have a loan service, I currently do not have a "savings" service to go along with it, as I need to be earning residual FP to cover potential FP losses from other FP Cash expenses.
     
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  8. Jerlene

    Jerlene Collecting FP$ Administrator

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    A bank would be cool. I'd love to collect some interest on my FP$.
     
  9. Ajay

    Ajay I'm The Captain Now

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    If i had more FP$ i'd do it. D:
     
  10. Jordan

    Jordan Valued Contributor Valued Contributor

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    I say we add 2% interest. I'll put all my money in the bank
     
  11. Ajay

    Ajay I'm The Captain Now

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    You're like Citibank and I'm like a local union bank.
     
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  12. xXInfectedXx

    xXInfectedXx Former Staff

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    A default interest rate of 0.5%. I'd love to see this added.
     
  13. Bryn

    Bryn Paragon

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    Although I should've said this sooner but, this is what I mean by my request. Just a simple account controlled by one of the admins in where FP$ can be donated to it or simply ask for extra, if running low on FP$ for certain things (and this can even be useful for @Jason76, who currently has a minus figure for his virtual monies :hilarious:)
     
  14. Jordan

    Jordan Valued Contributor Valued Contributor

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    Back when @JLogan had -9,924.00 FP Cash :hilarious::hilarious:
     
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  15. Cameron Taylor

    Cameron Taylor Owner Administrator Owner

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    I'd say interest is something we're going to steer clear of. :p

    We do have the @Forum Promotion account, which could potentially be utilized for this. If people are willing to donate FP$ to that account, it could then be distributed to those in needs of FP$. The only issue is determining how the FP$ would be distributed. Would it be per request? How would such a thing be regulated?

    Jason's situation with his FP$ is something that is rare. We went a few months without doing any of the deductions for completed package requests, so we had a few individuals who no longer had the required amount of FP$ by the time the FP$ was actually deducted. That's why he has negative FP$. We will now be focusing on making sure these deductions are done in a timely manner, so we don't see these types of situations again.
     
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  16. Ajay

    Ajay I'm The Captain Now

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    Wouldn't a bank be useless without any interest though? lol
     
  17. xXInfectedXx

    xXInfectedXx Former Staff

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    I'm for this idea. We should have a base rate of 0.5%. It encourages users to save and is an incentive to post even more.
     
  18. Jordan

    Jordan Valued Contributor Valued Contributor

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    But FP wants the opposite. They want to encourage users to spend their $FP
     
  19. xXInfectedXx

    xXInfectedXx Former Staff

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    I agree, this way it will help the economy and increase the value of FP$. What do you think about the administrators doing regular, daily/weekly auctions which could include PayPal and Gift Cards?
     
  20. Ajay

    Ajay I'm The Captain Now

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    In regards to what? That sounds sort of like exchanging FP$ for real world cash/items. We can hold contests, to an extent, as we are already doing.