Has anyone touted the idea of a SL Bank ?

Just wondering if a bank has been thought of before ?

One where those with spare lindens (yes there are luckyones)
cold invest in a "bank" this money could then be lent to others to build for special events etc in exchange for small interest...

eg invest 1000 for 1 week
Borrower takes 1000
builds his showpiece for a wedding or other event.
derez's build after event
Repays amount plus say 2%
returns 1020
Bank keeps 10
Investor takes back 1010

Win Win Win
win 1 - Investor - Spare money now grows by 1% a week
win 2 - Borrower - has extra funds to build something special
win 3 - Bank - Makes money by brokering the deal.

Of course there are many fine touches needed.

But imagine a pool of say 50000 available to anyone and a good investment too.

I know people will say 2% a week is like 100% per annum so is not like RL but in SL you can build the taj mahal in a day and take it downas quick so RL timeline is irrelevant.

questions ?
Bad debtors - borrow money and give it away..um naughty
Bad debtors - Borrow money and then leave game...ouch
Bad debtors - just dont repay...tch tch
Investors - Might need their money back fast... locked for term

Just an idea guys !

oh no, NOT AGAIN!!!!!
ppl come here with this awesome idea EVERY MONTH!!!
anyone feel like bumping some of the other threads on this?

Ooops on further searcheing i see it has been discussed but not where i would have thought...

Sorry for posting something already dicussed..but I am quite dumb...and ugly too !

I think its interesting that people keep bringing this up. No reason to get all uppity

I was thinking about how to do a lending money system and not have to worry about people that dont repay.

I was thinking to have an attachment that the borrower had to wear and the attachment would pay the money back on the deadline or on detaching... but that ending up not solid enough

But most people will borrow money to build so then I had this idea. You build something and bring it to a machine. Place it on the machine and unlink it. The machine will scan the item and rez a duplicate of it, and charge you $0.01 per prim. You can then derez your items, getting your money back, and take the bank's copy of the item and use it. THe bank's copy would be no-mod, no-copy and it would de-rez on the deadline.

The charge of $0.01 per prim is equal to the interest that you would pay back. And rounded down to the dollar.

For a large projects that you dont have enough money for, you could build what you can, get a bank's copy, get your money back and build the next part, etc.

Problems:
This wont work for hinges and scripted items that rely on links.
This probably needs the obj-obj messaging system thats in development so the bank can keep track of all its copys.

Bah - forget it actually because LSL can't set all the parameters of a prim so some prims the bank wont be able to rez


I got this idea because Ironchef has a prototype of the machine I described working pretty well

Why bother with stuff like that when we're getting a weekly payment feature soon?

Eggy, I love ya, but you tick me off sometimes.

weekly payment feature?

Why do it? To see if you can!