Investment Opportunity

Okay, let me chime in here.

First off, Brandon has recently joined my Society (SaW) since an earlier dispute on the Forums in which he redeemed himself. So as he is involved in my Society I will feel a need to over look things he is doing, both in Game and Forum.

I have played the game for a few Years, since Early 2013, but I had about a year lay off as well. I was on Calypso back then.

I can first hand tell everyone here just how difficult it is to run a 'group venture', because that was our intent the first time. I earned trust and respect among a few players, we were moving forward a PEC here and a PEC there (nickel and diming, as they would say). We had even earned enough funds for a Society Ship so that we could venture into Galatic Weapons Trading (sounds WAY more cool than it is).

I was authorized to Buy and Sell on behalf of the Society, as were others. We were usually in agreement on these things and we were steadily building. I was actually having Contracts drawn, because one of my members had decided to invest a large some of IRL money on a tax return, and IRL I wanted all parties to be protected. He, being the major investor, would have 'owned' most of the Society, but he believed in my vision and had agreed to not 'write me out' of the Society I had started and the vision I had grown to that point. The idea involved acquiring CLDs, and with Group Sharing (although all agreements would be 'out of game' and contractual, as MA doesn't allow for such 'Shared Propery' in Game and will side with the actual Holder of the Item/Property unless Scamming can be proved) until the Society could emerge as a Land Owner of a Taxed Area... yes, a very lofty goal indeed.

We kept records on every Transaction and posted them to our Society Webpage, along with EntropiaPartner results.

Now the most DIFFICULT part of this Society was that the core was so focused on multiplying to the next level that while we did Train Eco Hunting (thank you Calypso Bone Samples in Gateway for making that almost 100% Profitable to hunt back then) we really didn't do much in the way of Team Hunts or Mining. In all honesty, if you were not part of the Core Group... who held the lofty goals and ideas of the Society as great fun... we were pretty dull.

I found what I felt was a great deal in a Shop on some Items that were decently under MU% (I believe they were Amps), and used about 300 PED of 'Society Money' to make the Purchase... and was fortunate to find a Trader who bought them all. However there were some in the Society who were upset that I didn't wait and discuss the purchase, and this was the first time this issue had occurred. No one had ever questioned when I had Purchased (which we agreed myself and others could do) previously. This lead to some division in our Society.

I have never found out if this was 'cold feet' by some as we approached the Contract being finalized and ready for Real World People to agree upon and sign, or if this was some 'play' to pull the Member who was depositing a large sum away from the Society to work with another Society Member (who did leave and start his own 'Trade Society', to which that member did follow) or if it just became increasingly difficult to 'scale up' the Level of Trust as more PED was involved. Either way, relationships ended and we did not move forward.

So I completely agree with those saying such an idea is very difficult. Trust is the MOST important part of such a deal. Misunderstandings are so easy... saying you will pay out at Noon on Monday, but then a real life emergency happens and you fail to show... now you look like you lied and are stealing, even if it was an honest mistake. Even if you log on later and DO pay out... was it really an emergency, or did he not have what he promised to have at the time and 'bought' more time with his excuse, meaning he couldn't keep his Schedule honestly.

Also it is always good to be skeptical when it comes to such things, not to rush into situations fool-hardy.

My previous reputation and the manner in which I carry myself has lead to a great opportunity for my Society, in which I have a Client that allows me to sell their Inventory on Commission. This is great because it greatly limits Risk for my Society, as we do not 'lock PED' into inventory while it isn't moving. To compensate for the Risk of the Client (who I shall not name, but they may absolutely come forward on their own if they decide) they get the Lion's Share of the Profit and we (the Society) work on 25% (with this Client) of the Profit.

A very small amount to be sure, but more than enough as we have mitigated the personal Risk involved. We started slow with not much Inventory Value, and to date the Client has been satisfied with the results. Trust continues to grow, and the Client challenges me with a wider variety of Inventory to sell on their behalf with each Lot we complete.

I believe Brandon has seen the success of this Deal between SaW and our Client, and I feel he may well want to expand his own operations (perhaps I am one of his 'Buyers' he references, among with some I introduced him to... and I'm sure he's found some of his own).

I have helped to show him some Economics and how some things work. He always ask why I don't buy MORE Sweat, and I try to explain you should never Buy more than you know you can Sell.

Some one Up Thread mentioned he feels this won't work on a Larger Scale... and sadly (because I love economic ideas and ambition)... I have to agree. There is only so much of anything that can be sold, and once you reach that point you will be stuck with an insane amount of Inventory that you can't move.

As I was always told growing up in Sales... you don't make your money when you Sell, you make your Money when you Buy. Part of that is Buying at the right price... but part of that is knowing when NOT to Buy, due to Inventory or Market Changes.

While I encourage Brandon to keep thinking and looking for new ways to improve the game for himself, and I would hope for his future Clients, I again caution that Trust and Reputation are not earned quickly. I am fortunate to be trusted and given the opportunity that I have been given with our Client, and I would like to think that my time in Game and my Fair Deals (even to the point of showing Sellers 'better buyers' than myself, so they have the option to get PED now or wait for a greater return) has earned me the Deal I do have.

The great thing about the deal was that it was born In Game. I didn't have to come to the Forums and put the Commissions Idea up... it was actually pitched TO me by some one I had made numerous Trades with In Game. It was an idea I had always had, but a difficult one to propose, so I was obviously happy when it was proposed to me. To date (we've worked this agreement for about a Week now) both Sides are very happy with the results. But I understand one small misunderstanding could ruin everything... there IS Risk involved.

So I caution Brandon to work a little slower, to let things simmer, and to build for the Long Term. Reputations are slow to grow and quick to destroy... and the key to being successful in this game if you desire to be a Merchant.

Sorry for being so wordy, I felt some background and current situation info was needed to balance this Thread.

 

I am glad that Brandon has found someone to help guide him. I wish him luck. To Brandon I say this we as a community generally try to help but we like all people only have so much patience. So take are advice and listen. Good luck.

 

Gotabecoolman, since you just started, I'm not sure if you seen this (thread from 2007):

From here - http://www.planetcalypsoforum.com/f...arification-about-Entropia-banking-operations

Since long quotes autohides with spoiler, I'll post most important part separately:

 

I think it's an opportune time to link this: http://www.planetcalypsoforum.com/forums/showthread.php?265461-entropia-investment-fund-status

It goes to show that no matter how big or small the investment is, no matter how reputed the avatar might be, you'll always run the risk of losing everything when the avatar absconds with your money.

 

Interesting.

Which, like I state, is one of the difficulties that has to be over-come.

Some were still getting Dividends. Now, was that real... or Alt-Accounts/Accomplices saying "All is well here, nothing to see"? I wouldn't know, but it's a good question.

Yet others, who SHOULD have been seeing Dividends... were not.

Was Real World situations happening, forcing the Manager to have less time here in Game updating the Portfolio? Or was it a Scam and he had made 'enough' to Sell and Withdraw?

I'd like to see more on that as well.

 

Please do as I am asking how to make my service better, not why you think it's stupid. You go ahead and make PED the way you do and I'll do me.

 

There is no risk involved and the only promise I need to keep is that I give money back.

 

Dividend is an interesting idea. That goes more with stocks where you own a fixed amount and the prices change, that would be a separate thread though. My system operates on making money from what's already invested and you can choose to withdraw any amount at any time.

 

Sorry this game isn't WoW in this game you are asking for other peoples RL money as one would on the streets.

 

no i'm asking for it as one would on a stock market. the only risk though is whether you choose to believe I have an honest business or a scam.

 

Let's put it simply. You are a new, non-depoing player who has somehow managed to become the most negative-repped user on this forum within less than two months from joining. Please understand that you're currently in no position to be asking for people to trust you with their hard-earned money. So, stop asking for people to invest in you, and start working on restoring your reputation in the community instead. Perhaps then, more people might be inclined to take you up on this business venture.

 

my advice is not to do this, too much scamm risk.

 

Well I'm still gonna do it. My bad rep needs to be undone. I was being stupid then I sent an apology and everyone that bad repped me gave me good rep but bad stayed?

 

bad rep always sticks better than good rep in game and in life (or to put it another way....shit sticks)

You've got a few barriers in front of you before people will start trusting you...
There's those the others have mentioned including rep,old schemes that went sour(these ones stick in peoples minds especially and make many very wary,rightly so I think) etc etc...


Aside from whats been mentioned you are quite young? (teenager?forgive me if I'm wrong on this)
This is a hurdle not easily over come.
The average age of an EU player has to be in the 30's possibly higher and its not easy for an adult to give money to someone your age unless they show some serious signs of maturity and common sense beyond their years.

As others have said....
If your willing to take as little as a ped from someone to get started then go mow some lawns or something,get a paypal account and depo what ever you earn and start your business that way.

its hard for people to deny the possibilities when you can show them the hard numbers and proof of concept.
Show it can be done and people will start to believe.

 

Well, every time I'm going home alone on a Saturday night I'm still gonna do it... just not with anyone else

Can someone please have mercy and euthanize this whole folly?

 

Some advice from an old timer. So many alarm bells, I'll cover a few.

- On Lending and to quote Mindark:

"We do not wish to discourage entrepreneurship within Entropia Universe, but based on experiences from community feedback and support case history, unfortunately not all entrepreneurs offering loaning services are trustworthy members of the Entropia Universe and therefore we need to be strict in our policies in order to protect the community from scams and cheating.

Therefore, any loan services offered outside the approved bank system will be considered by MindArk as scam attempts and the avatar offering such services risk a permanent lockdown of his/her account."


- You are asking everyone who participates to lend you half of their investment to fund your game play and promising to pay it back if your "trading" makes a profit. Thereby threatening your account and potentially all theirs as lenders (the bank) with the lock.

- My other nostril smells Ponzi Scheme where you fund withdrawals from other peoples capital, and those are well documented on any wiki or scam site you care to browse.

- As for the only promise you have to keep being "paying the money back" that's the point. Aside from breaching EU Law your "idea", and I've suggested what scheme you may have got it from, hinges on that simple question. All other promises, pleas and words are immaterial. This is the key question and you can't offer any security around it.

- You also aren't funding your own game play. That leads me to question your disposable income in RL. Assuming you don't want to depo "even 1 ped, what's to lose" as you say to your potential investors I'd firstly ask why would someone invest their money with someone who perhaps isn't as financially astute in their management of their RL finances as others.

- It also seems slightly ironic that you won't invest 1 ped with a company the size of Mindark, or international press fame, that publishes accounts, has buildings, employees, assets etc. etc. and who will provide you entertainment and potential for greater returns for your money. But you expect players to invest 1 ped with some random dude who has a dodgy and two month old track record is entirely invisible and who has already told you he will keep half your money but might give you a return on the rest if he can trade up and keep his promise to not run off with your money. Hmmm.

- You also say to people "what's to lose just 1 ped or just 10ped". That gives such a strong indication of your perception on other peoples money. Imagine a bank in RL that set up in a derelict building but put a poster up saying "we look a bit dodgy but we'll pay you 50% interest on your £10 ... come on what's to lose, its only £10". Your start point seems to be people should trust you because they will only be investing an amount they can afford to lose. If your view is they can afford to lose it then it says a lot about how your judgement may be exercised when you ask yourself the question "shall I run off with all these people's money".

I'll stop now because it should be obvious that my advice to the community is to steer well clear so as to keep their accounts unlocked and with their hard earned money in them. My advice to you is to get a job.

 

Thank you for a neutral post. My previous ideas I wouldn't say have gone "sour" the were never really carried out in the first place. I am a teenager, even if that is a bad thing in this game hopefully I'll gain in game trust which will carry to the forums. I especially am encouraged by the last paragraph, I have a soc member that is going to invest 5PED and I plan to show how much his money earns every transaction. He will be the first client (he also says he'll invest more if he likes how it works out) and I will possibly have a second client that is new to the game so he can earn more money than trying to hunt.

 

I'm not going to give up on my ideas because "It's been done before" and other negative things people have been saying. I'll try it with multiple people, hopefully keep them as satisfied clients and grow my business on them as I gain new investors.

 

Gotabecoolman said: ↑
Let them. I'm not scamming I know it's a real risk but I'm sure you have plenty of money losing 1PED wouldn't be a big deal anyways.


Seriously my friend you have a lot of growing up to do. It is good you have stated that you are a teenager, that will help people judge. But statements like the above just some it up. Life doesn't work like that. You sound like a teenager stamping your feet because you want something now, now, now, and trying to take $5 out of his mom's purse because you think she should give it to you cos she can afford it.

 

I suggest you read EU Law, you are risking your account and all the people who lend you money accounts