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List of forums -> Your suggestions and bug reports -> Bank of Virtonomics

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Would creating a fund for Virtonomics be a good idea?

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Start: 19.04.2017, 16:47

End date: 3.05.2017, 16:47

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Topic created : 19.04.2017, 16:47
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
I was just thinking, if it would be worth setting up some sort of bank or fund for Virtonomics. This could be used as a fund for beginners for things such as start up costs. I remember when I first started out, I spent quite a bit of real money for virtual money as I was running deficits because my business was expanding. Maybe more experienced players could contribute a small amount of any excess money that is just sitting around or not being reinvested to the fund in return for an award. The bigger the sum, the bigger the award etc. It doesn't have to be much e.g. millions. I don't know if admin would like this though as the real money used to buy virtual money in the game is used to maintain Virtonomics (keep the game running) and to make improvements. However, there are still plenty of things in the V-store that people can buy to create revenue for Virtonomics. Also, the fund should be non-partisan and decentralised i.e. not controlled by a single person.
 
Just a thought
 

   

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19.04.2017, 18:13
Gorchilo
Jubilee Ten Jubilee Ten The winner of the Leaders Contest in the "Fuel Rivers" nomination Winner of the Leaders Contest in the nomination Week of perfect Service Winner of the Contest for Managers in the nomination Nation's Health Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics Winner of the Contest for Managers in the nomination Raw Material Base
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics Two years with Virtonomics
One year with Virtonomics
Mathematic teacher Ladybug Jubilee Ten Bronze Ten Silver Ten The tender collider, IV-VI places World Cuisines, VII-XV places World Cuisines, IV-Vi places
Shagreen, VII-XV places The winner of the Industry Competition in the "Virtostandard of fuel" nomination The winner of the Leaders Contest in the "Fuel Rivers" nomination Winner of the Industry Competition in the 'Government procurement' nomination Winner of the Leaders Contest in the nomination Week of perfect Service Winner of the Contest for Managers in the nomination Nation's Health The winner of the Industry Competition The winner in the nomination Your Way to success of the Industry Competition
The winner of the Standard of Virtonomics nomination of the Industry Competition The best player of the qualification for the quarterly Industry Competition Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination The Standard of Virtonomics Two years with Virtonomics
n:
ZZZ
 
you have bonds , that is like bank ..
you issue bonds - someone buy them - after time pass you have to pay back with interest
 
So that is compared with bank .. 
 

19.04.2017, 18:19
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
For new players unfamiliar with the system bonds might not be their first thought 
 

19.04.2017, 18:25
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
Almost like an investment and/or cooperation bank 
 

19.04.2017, 20:50

Last time edited : 19.04.2017, 21:13
XDCD
Five years with Virtonomics
Japan soccer ball Swedish profile Swedish profile Swedish profile Swedish profile Swedish standard Ingvar Kamprad Order Jubilee Ten
Shagreen, VII-XV places Shagreen, VII-XV places Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics
m:
XDCD Incorporated
 
Very good idea, many players may need some extra cash to get started. And I'm sure a lot of players are willing to lend some of their excess cash.
 
Bonds aren't a good option for new players, they are way too limited. For new players with assets of a few million its hardly worth it and currently too risky for new players in my opinion. They definitely need some extra work, these additions
as suggested by mort would be great: https://virtonomics.com/mary/forum/forum_new/11/topic/103631/view/m:99919323/#99919323 ...
 

A bank would be awesome as well and there are many ways to make it work.
Either or both the lender and borrower should be able to set terms for which they would lend or borrow money to or from.
Example of terms that could be set:
- asset requirement (1 - $1B)
- amount of $ (up to $100M)
- interest % (0.01%)
- payment plan (1% per turn due after 20 turns)
- max amount of debt (either in $ or %)
 
If a player exceeds the debt limited stated he could be forced to pay back (part of) the loan immediately and/or discuss new terms with the lender.
 
As for leverage, this could work much like the current bankruptcy, if the player can't pay for 10 turns and they can't find anyone to borrow them extra cash the assets would be put on the market and proceeds paid back to the lenders up to the amount borrowed. 
 

19.04.2017, 21:22
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
It's great to know that other people support this, I only just thought of it this afternoon. I really enjoy this game and want to contribute towards its development. I think the community here is great and creating this would only just further that. If we got enough people behind this, we could actually make this happen and make Virtonomics even better. Making people aware of this idea and letting them consider it first would be a good first step to turning it into reality. 
 

19.04.2017, 22:08
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
Another point: I think this project would be of great use for new player retention rates as new players who go bankrupt and risk losing their business because of this (and then become disheartened) or people who are still finding their way or getting to grips with game mechanics would have something to rely on initially 
 

19.04.2017, 22:10

Last time edited : 19.04.2017, 22:12
XDCD
Five years with Virtonomics
Japan soccer ball Swedish profile Swedish profile Swedish profile Swedish profile Swedish standard Ingvar Kamprad Order Jubilee Ten
Shagreen, VII-XV places Shagreen, VII-XV places Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics
m:
XDCD Incorporated
 
FLP01
It's great to know that other people support this, I only just thought of it this afternoon. I really enjoy this game and want to contribute towards its development. I think the community here is great and creating this would only just further that. If we got enough people behind this, we could actually make this happen and make Virtonomics even better. Making people aware of this idea and letting them consider it first would be a good first step to turning it into reality.

Yeah I agree, sadly I'm just a little skeptic whether it is actually going to be read by the developers. I hope they do, but there are many good ideas on this forum, some posted years ago without much of a reaction from any moderator/admin or developer.
 
I was just searching the forums and this is the only constructive reply to suggestions I can find so far, turning down nearly every idea because it's 'hard to implement' and/or not detailed enough:
https://virtonomics.com/mary/forum/forum_new/16/topic/105362/view/m:99930034/#99930034 ...
 
To quote him for the ideas they are looking for:
jeka_igla

After all - thank you guys for the ideas! If you want to see your idea to be implemented, make it:
- Super useful for most of players
- As simple as possible (cheap to develop)
- Interesting
- Something that does not require to change much in current game model and mechanic
- It should have some income potential for the game and it should have demand for it
Coming up with such idea which fits to all those criteria is very hard so start small - propose something small and useful and it has a chance to be implemented. If you proposing something big make it as detailed as possible. We don't need an idea like "add banks", we know that banks are interesting. We need full/complete concept where we'll see that this not going to break game balance and will be interesting. Anyway developers have a plan and we will add new features and fix bugs no matter what but some feedback is always nice and as some of you know, many things which we add to the game were initially proposed by other players.

Basically, we would need to explain every detail of the concept AND find a way for them to earn decent money from it without breaking the games balance... I guess they could charge a player 3 points to create a bank (much like a corp or party).
 

Besides that, translating it to russian and posting it on their forums would increase the likeliness of getting read.
Link it here if you do so I can up-vote it To wink 
 

19.04.2017, 22:35
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
That's really great advice and it gives people parameters to work within. I think if we can get enough people involved with this and start to really set out and detail what we are trying to achieve from the current concept that we have now, I'm sure that we can get it to fit the criteria
 
I guess they could charge a player 3 points to create a bank (much like a corp or party)

I think the general aim with this would be to just have one investment/development bank rather than lots of ones that people have created, but I do agree with you that they need to be able to earn money off of this, somehow 
 

19.04.2017, 23:13

Last time edited : 20.04.2017, 00:51
XDCD
Five years with Virtonomics
Japan soccer ball Swedish profile Swedish profile Swedish profile Swedish profile Swedish standard Ingvar Kamprad Order Jubilee Ten
Shagreen, VII-XV places Shagreen, VII-XV places Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics
m:
XDCD Incorporated
 
I guess that would be nice but that seems quite hard to decentralize, someone would need to decide who to lend to and under which conditions. One big fund would need a few people, for example a chairman and a few deputies who can decide as voting for each request would take too long.. Accepting each request wouldn't be an option either as it would break the games balance, and I'm not really a fan of fixed conditions i.e. with a good reason/plan you should be able to get more debt than without a reason.
 
Not sure if you have any ideas on how to achieve a decentralized single fund? 
 

20.04.2017, 00:54
Gorchilo
Jubilee Ten Jubilee Ten The winner of the Leaders Contest in the "Fuel Rivers" nomination Winner of the Leaders Contest in the nomination Week of perfect Service Winner of the Contest for Managers in the nomination Nation's Health Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics Winner of the Contest for Managers in the nomination Raw Material Base
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics Two years with Virtonomics
One year with Virtonomics
Mathematic teacher Ladybug Jubilee Ten Bronze Ten Silver Ten The tender collider, IV-VI places World Cuisines, VII-XV places World Cuisines, IV-Vi places
Shagreen, VII-XV places The winner of the Industry Competition in the "Virtostandard of fuel" nomination The winner of the Leaders Contest in the "Fuel Rivers" nomination Winner of the Industry Competition in the 'Government procurement' nomination Winner of the Leaders Contest in the nomination Week of perfect Service Winner of the Contest for Managers in the nomination Nation's Health The winner of the Industry Competition The winner in the nomination Your Way to success of the Industry Competition
The winner of the Standard of Virtonomics nomination of the Industry Competition The best player of the qualification for the quarterly Industry Competition Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination The Standard of Virtonomics Two years with Virtonomics
n:
ZZZ
 
I know what you want with that idea but as i said there is bonds , if new players are not familiar with bonds they will not be with banks too .
 
There is few problems there ..
 
If bank cost in points no one will open bank unless they can make huge profit from it and that will not help to new players.
Even with 1 point i can make 200-300 bil so why to pay to give someone money it is easier to simply give to someone 10-20 mil ...
Then there is problem of guarantee for pay back
Also that must be automatic like set and forget because no one want to spend time to negotiate terms ..
 
I think instead of bank that is better not to give choice to new players to take Uncle's gift so they have to research in start what to produce , it is better to give them more $$ or warehouse with some raw materials ..
 
Also start up tutorial with small rewards will make huge difference because new players will see where to look for different things like city wealth , to use references when they plan to open new factory , to use analytics when they open store or some of service sector subdivisions or how to buy licence and similar stuff ..
 
I know when i started game i had feeling like i drop from Mars on Neptune Very we!
After 2 days i was thinking to left game but i decide to give chance to game and next few days i was read every post for newbies on forum .. 
 

20.04.2017, 01:02

Last time edited : 20.04.2017, 01:10
FLP01
Six years with Virtonomics
Six years with Virtonomics
Merit for the Italy of level III Founder of Victoria (CS) Founder of Seychelles Virtonomics Philanthropist 3rd class Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics The winner of the Best trade mark nomination of the Industry Competition
l:
Providence Limited
n:
Providence Limited
m:
Providence Limited
 
Not sure if you have any ideas on how to achieve a decentralized single fund?
The very nature of having a Virtonomics investment bank will mean it will be centralised, there's no way of getting around that unfortunately. I do believe that it should be decentralised in terms of ownership and how it is operated and that a select few can't have absolute control over it and that is it open, honest and fair for all that choose to use it. 
 

20.04.2017, 01:41
XDCD
Five years with Virtonomics
Japan soccer ball Swedish profile Swedish profile Swedish profile Swedish profile Swedish standard Ingvar Kamprad Order Jubilee Ten
Shagreen, VII-XV places Shagreen, VII-XV places Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics
m:
XDCD Incorporated
 
I know what you mean Gorchilo, however I don't think getting started should require hours/days of research..
It just isn't very attractive and will leave most players to quit in a couple days tops.
 
Bonds just can't help a new player, you start with ~$5M? assets which means the bonds you could sell aren't going to help you much. Plus in my opinion the current state of bonds aren't very friendly to use for most players because of the set conditions and limitations.
 
An easily accessible bank/fund or whatever could help a lot of players out, I wouldn't mind 'lending' a bunch to new players in the hope more people would enjoy the game. Rather than quit after 1-2 turns because they're at zero money and can't do much anymore. Even you admit you were thinking of quitting after 2 days, remember that most people won't give it another chance.
 
Besides that, I assume a bank with interest payments and variable payment conditions would be much more attractieve for both players to loan and borrow money to and from. Even at higher levels you might just need a couple extra billion for 1-2 turns to buy-out a stack of goods, in which case it isn't really worth it to sell bonds and be stuck with the debt for 52 turns. 
 

20.04.2017, 01:52
XDCD
Five years with Virtonomics
Japan soccer ball Swedish profile Swedish profile Swedish profile Swedish profile Swedish standard Ingvar Kamprad Order Jubilee Ten
Shagreen, VII-XV places Shagreen, VII-XV places Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Platinum sponsor of the Contest for Tycoons Seven years with Virtonomics Winner of the Leaders Contest in the nomination of Consumer Goods Winner of the Leaders Contest in the nomination The Standard of Virtonomics
Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics
m:
XDCD Incorporated
 
FLP01
Not sure if you have any ideas on how to achieve a decentralized single fund?
The very nature of having a Virtonomics investment bank will mean it will be centralised, there's no way of getting around that unfortunately. I do believe that it should be decentralised in terms of ownership and how it is operated and that a select few can't have absolute control over it and that is it open, honest and fair for all that choose to use it.

Yeah that's what I meant how would you achieve a single fund/bank with decentralized control? Who's going to pick who the fund should invest in? Unless you want set conditions i.e. fixed rates and debt limits, which personally I'm not really a fan of. I can't think of a way to achieve that without having centralized control by a few (who can possibly be voted for).
 
Reason I don't like fixed rates and debt limits:
I would lend 50M to someone with ~1M assets at 0%, no problem.
But lending someone 50T if they have 1T assets would be ridiculous.. 
 

20.04.2017, 04:17
xcrusader010
One year with Virtonomics
Shagreen, VII-XV places Winner of the Leaders Contest in the nomination Week of perfect Service Winner of the Contest for Managers in the nomination Nation's Health Winner of the Leaders Contest in the nomination Tender mania Winner of the Contest for Managers in the nomination "Knowledge is power!" Winner of the Contest for Managers in the nomination Consumer Goods Winner of the Contest for Managers in the nomination The Standard of Virtonomics One year with Virtonomics
m:
Bogan Corporation
 
Bonds aren't that bad. When I got $5bil from a bond, I started making $1b a day. So it paid for itself in one day...
 
I'm not sure about the bank. It's a good idea, but Bonds do the same job, really, but at least the bank will be a lot more flexible and interactive
 
It'll be better if this idea was renamed to "Bonds" and the current bond system is replaced with this one. It will be heaps easier for everyone Very we! 
-------------------------------
 
Bogan Corporation
 

20.04.2017, 06:54.     Subject: It already works
Bacaka2
One year with Virtonomics
m:
Telecom Incorporated
 
Why could not the payments be in expensive products.
Lets think that Player A is going to lend 3 millions to player B(A is the lender,B is the borrower)
Player B opens a warehouse/storage and sets the price on quality 1.00 wheat to 3 millions.
If the repayment is 1%. per turn,player B buy back the good with 30000 per turn.
Do you understand? 
 

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