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Re: FORMING A CREDITS BANK

Sun, May 13 2012 6:24 AM (17 replies)
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  • genorb
    1,255 Posts
    Sat, May 12 2012 5:59 PM

    HonestKev:

    Here's an example of how it could work; you want a new driver and some Nike balls normally costing 2,600 credits ($26). But you make a PayPal payment of $15.60 to the virtual bank which is 60% of the real total. One of our bank's investors will then Gift you your equipment order i.e. your new driver and balls, the bank then sends our investor a PayPal payment of $13 (50%) keeping 10% for the bank. Our investor gets a 50% return for his credits rather than just approx 16.5% return from wgt.

    That's a great idea but you don't need a bank for that (or I overlooked something...).

    You just need a list of guys who are ready to make such transactions (what you call the investor and I will call them like this in this post). So someone who want to buy some stuff at 60% of the price contact one of those investors. He then proceed to a paypal payement and then the investor gift the equipment once he received the payement.

    Of course you need confidence into the inverstors. But investors cannot do wrong things too long. You just need to maintain a page on this forum or elsewhere where problems can be reported. If the problem is real (no gift made after a paypal payement), the investor is removed from the list. So there is no interest for the investors not to be honest (of course someone can always report false problems etc just to mess everything).

    Regards

  • chris2345
    528 Posts
    Sat, May 12 2012 6:29 PM

    Trustworthy investors needed to help this venture work. 

     

  • chris2345
    528 Posts
    Sat, May 12 2012 6:31 PM

    Edit : Sorry about the duplicate post...buzzing here.

  • chris2345
    528 Posts
    Sat, May 12 2012 6:34 PM

    Ok,

    chris2345:

    Edit : Sorry about the duplicate post...buzzing here.

    Maybe not a duplicate post... on first expection it did look that way :)

     

  • chris2345
    528 Posts
    Sat, May 12 2012 6:37 PM

    On further expection it looks like a false alarm, sorry for any confusion. It's been with me for a while.

  • drmoose
    3,538 Posts
    Sat, May 12 2012 6:37 PM

    Not to rain on anyone's parade, but, I believe WGT addressed this issue under their clause that prohibits anyone from "creating revenue" from any add on to their proprietary leases. Different countries have different laws, of course, but I can not imagine that such a loss in revenue would not be addressed very shortly by WGT.

    Doc

    PS. Great idea, just doomed to fail, like most great ideas are.

  • HonestKev
    33 Posts
    Sun, May 13 2012 4:23 AM

    You may be right but the Bank is there as a one stop shop which makes a guarantee to buyers that their order goes ahead once they make a payment. No waiting for a particular investor to gift orders. The Bank has a list of investors and acts as an intermediary and a guarantor. If necessary the Bank will gift the order and chase up any late investor for payments.

  • MioKontic
    4,644 Posts
    Sun, May 13 2012 6:24 AM

    chris2345:
    on first expection

    You mean 'inspection'.

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