Topic

Kiva/Kickstarter for Glitch! Loans and donations.

A few groups on Glitch have set up player run banks and loan systems, what if Glitch had that infrastructure in place already? Players could submit a currant amount that they feel they need, and other players could offer to back that loan at a certain interest rate and payment plan. If the loan is Noy honored the player can file a complaint with a beauracrat and the debtor would be forced to pay.

Or glichen could just loan money at their own risk. But it would be nice to have a risk free way of helping young players.

Posted 8 months ago by La Mariposa Subscriber! | Permalink

Replies

  • Just have enough money that you can be generous with it. Noblesse oblige and all that.

    But yes, agree that these mechanics would be useful.
    I'd just hate to see Goldman Sachs get involved.
    Posted 8 months ago by CrashTestPilot Subscriber! | Permalink
  • Haha! +1 Crashtestpilot!

    When I'm living large I am very generous with my money, I just think tools like this would be useful in finding needy Glitchen who need a hand.
    Posted 8 months ago by La Mariposa Subscriber! | Permalink
  • The big complication is payback and interest mechanics.

    Walk with me a moment.

    Okay:  Let's say there are two debtors, Annie and Betty.

    Annie is level 3, or the nearest equivalent after the imagination reset.
    Betty is level 10, or the nearest equivalent, etc.

    Both want a 100k loan, to be serviced at 10 percent of their total currant corpus (whatever that may be) at 30 day intervals.

    Who is the bigger credit risk?
    What if they quit the game?
    What if they intentionally game the terms of the loan by keeping their corpus low?

    So then we might move to a model of, every week, you pay 10 % of the outstanding loan (10k/week).
    What happens if they don't have that much? Do they end up with negative balances? Overdraft fees?

    Okay, so what if repayment is voluntary?
    That means we would need to tighten lending to only offer those loans we think would be paid back.

    How do investors make money? Do they?

    At the end of the day, there's lots of questions, a bit of plumbing to do (or not), and at least to me, a ton of headaches.  My personal feeling is that period (new player) when you're just trying to save that first 50k is very educational, and patterns your habits.  By the time you need money, you actually know what to do with it.

    I'm not downvoting this idea, I just don't think anyone has cracked the problem of how to do this in a way that works better than befriending someone and dropping your extra stuff on them.
    Posted 8 months ago by CrashTestPilot Subscriber! | Permalink
  • +1 CTP

    I'm only suggesting one way of more effective ways to find Glitchen who need a little help.
    Posted 8 months ago by La Mariposa Subscriber! | Permalink