I've been thinking about it a lot--having some kind of investment service on Flight Rising would be really interesting (and it would definitely be embracing dragon capitalism lol)
Since I'm not active on FR very often, usually I transfer my treasure to gems before I go and buy retired or cycled-out items to resell them later. It's how I'm able to make a good amount of money while remaining semi-active, but it can be risky sometimes depending on the investment (such as scattersights immediately becoming 1/10th of their value after the update, oof)
I guess the big thing is losing money. It sucks when I occasionally lose money, but I don't feel that bad about it. If I was managing someone else's dragon money though I'd feel really bad about it.
Has anyone else thought about this idea? I don't think it's a very novel idea, but I know I personally wouldn't be able to offer that kind of service because I don't have the time. I wonder if people are offering something similar to this already haha.
I've been thinking about it a lot--having some kind of investment service on Flight Rising would be really interesting (and it would definitely be embracing dragon capitalism lol)
Since I'm not active on FR very often, usually I transfer my treasure to gems before I go and buy retired or cycled-out items to resell them later. It's how I'm able to make a good amount of money while remaining semi-active, but it can be risky sometimes depending on the investment (such as scattersights immediately becoming 1/10th of their value after the update, oof)
I guess the big thing is losing money. It sucks when I occasionally lose money, but I don't feel that bad about it. If I was managing someone else's dragon money though I'd feel really bad about it.
Has anyone else thought about this idea? I don't think it's a very novel idea, but I know I personally wouldn't be able to offer that kind of service because I don't have the time. I wonder if people are offering something similar to this already haha.
It's not an awful idea, but there is the issue of a) what if you get banned or b) what assurance the buyer will have that you'll not just... keep the money. I've seen "banks" come up before in Suggestions, fwiw.
It's not an awful idea, but there is the issue of a) what if you get banned or b) what assurance the buyer will have that you'll not just... keep the money. I've seen "banks" come up before in Suggestions, fwiw.
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She/Her, FR +0
No worms in my username-
R e n a i w o m
I like being pinged, but not mass ones.
I often process thoughts by writing... Trying to TL;DR more.
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Hatchery
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I wonder what was the update that killed scatterscrolls.
I wonder what was the update that killed scatterscrolls.
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I'd think it would be a far from supported service. And pretty risky.
I'd think it would be a far from supported service. And pretty risky.
It's not exactly a stupid idea but we don't see it working out too well. Users might say they're ok with a loss but if it actually happened, especially a scattersight scenario with a big loss, we could see some people getting angry and demanding their original money back.
Just seems like less of a headache to earn your own money rather than doing it for other people for presumably a percentage of any potential profit.
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
It's not exactly a stupid idea but we don't see it working out too well. Users might say they're ok with a loss but if it actually happened, especially a scattersight scenario with a big loss, we could see some people getting angry and demanding their original money back.
Just seems like less of a headache to earn your own money rather than doing it for other people for presumably a percentage of any potential profit.
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
[quote name="Lonin" date="2021-11-28 08:02:22" ]
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
[/quote]
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
Lonin wrote on 2021-11-28 08:02:22:
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
[quote name="SCB" date="2021-11-28 08:44:08" ]
[quote name="Lonin" date="2021-11-28 08:02:22" ]
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
[/quote]
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
[/quote]
That's when you make new laws ....ehem..rules to protect the bank.
SCB wrote on 2021-11-28 08:44:08:
Lonin wrote on 2021-11-28 08:02:22:
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
That's when you make new laws ....ehem..rules to protect the bank.
[quote name="PersephoneZea" date="2021-11-28 09:38:06" ]
[quote name="SCB" date="2021-11-28 08:44:08" ]
[quote name="Lonin" date="2021-11-28 08:02:22" ]
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
[/quote]
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
[/quote]
That's when you make new laws ....ehem..rules to protect the bank.
[/quote]
I think my idea would be a service that would be transparent in 1. how much money is currently in stock and how much is invested in other items at any point in time, 2. which items the money was invested in and why, 3. guaranteed days in which the user could transfer all their money out of the bank (so items will be liquidated before the deadline)
Maybe for simplicity's sake everything could just be in gems, because t:g ratios overall have trended upwards since when I started playing (from 1:400 to 1:1000) so it's usually not a bad idea to convert treasure to gems when you can.
I would also like to clarify that I think this is an interesting idea in theory, but in practice it would probably fail for all of the reasons that have been stated so far. It'd be too easy for someone to pocket the money, get banned, etc. But man, it's interesting for me to think about.
PersephoneZea wrote on 2021-11-28 09:38:06:
SCB wrote on 2021-11-28 08:44:08:
Lonin wrote on 2021-11-28 08:02:22:
We've seen the general concept done with user-run banks that offered interest. There's probably a reason they don't last long-term.
I can imagine that someone giving you 500 gems to hold back when the ratio was 1:800 and then coming back when the ratio is 1:1000 wouldn't be the greatest thing for the "bank". Sure, 500G is still 500G, but now you have to give them 500 000t worth vs it being worth 400 000t previously. Especially when I doubt the "bank" just has the 500G sitting in the vault, they likely used it to invest.. liquidating items fast to repay comes at a loss, or well, buying gems with treasure at the now much higher ratio.
That's when you make new laws ....ehem..rules to protect the bank.
I think my idea would be a service that would be transparent in 1. how much money is currently in stock and how much is invested in other items at any point in time, 2. which items the money was invested in and why, 3. guaranteed days in which the user could transfer all their money out of the bank (so items will be liquidated before the deadline)
Maybe for simplicity's sake everything could just be in gems, because t:g ratios overall have trended upwards since when I started playing (from 1:400 to 1:1000) so it's usually not a bad idea to convert treasure to gems when you can.
I would also like to clarify that I think this is an interesting idea in theory, but in practice it would probably fail for all of the reasons that have been stated so far. It'd be too easy for someone to pocket the money, get banned, etc. But man, it's interesting for me to think about.
