patrick1333

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Posts posted by patrick1333

  4. Posted

    9 hours ago, Expressman said:

    Not directly but similar to how we will channel money to the best growing companies we'll also channel manpower and talent to the best companies.

    That would certainly be of interest 

  5. Posted

    1 hour ago, Bassman said:

    Exactly, I figured you would be able to do such tasks, but I prefer the position Estimator over accountant. More engaging position title in my opinion. If you could send me a direct message with some backround information about yourself and a desired wage rate that would be great, thank you!

    Will do :)

  6. Posted

    13 minutes ago, Bassman said:

    No exactly, I am looking for an estimator if you are interested in that position.

    To estimate the cost of things? Budgets, product cost calculations, projected income, expenses and stuff? Accountants do that, too. It's part of our job. I can do anything finance related, really :)

  7. Posted

    On 10.12.2017 at 3:42 AM, Vinnie_Schmittburg said:

    who knows what the economy is gonna be like tho

    This exactly. We have't really recieved much information of how the economy will work in any way. Like what currency will be used, how does government spending work, how does tax collection work, how are payments processed (cash, bank transfers etc.), how are prices regulated (demand and supply?)? The economy is a huge part of society. I think the identity developers defientely should give us some more insight on this topic. There are a lot of unanswered questions about the economy of this game.

    • Like 1

  8. Posted

    6 minutes ago, LuciousTimes said:

    So, you also don't agree with the concept of the Leaderboard?

    Not really. It's a forum, not a "who posts the most" game. I think a system similar to reddit (karma points), which this forum already has is more than enough. And maybe instead of having a leaderboard, very active and contributing forum members could recieve awards that remain permanent on their profile as a showcase of their contributions. I already saw someone had the "most likes" reward. The leaderboard thing is uneccecary, at least in my personal opinion. But that's just me, maybe it could be a viable option if done correctly somehow :)

  10. Posted

    I honestly don't think a system will this wil be fair. I mean, what if someone who had been really active in the past, gets in an accident or something else happens that prevents him/her to be active for a long time? Will he/she then loose his rank for something that clearly wasn't his or her fault? Does he/she then have to contact the support team and ask for them to maintain his rank? I mean, honestly, it's just a forum and I don't really believe this to be an efficient ranking system for any forum whatsoever

  12. Posted

    6 hours ago, HairyGrenade said:

     Correct, but it won’t be in a way where you can accumulate debt.

    Hmm. In almost every modern economy currency is created out of debt and lent out with the application of interest (there is interest due on every dollar). When the government needs money, they just auction federal bonds and promise to pay back with interest and thus currency is created. Tax revenue destroys credit (debt), which is also currency. Defecit spending is a huge part of how the economy develops, but you won't be including it in the game? 

  16. Posted

    So i assume that's income tax only. And 5% interest if youre a woman? Interest on what exactly? 

     

    And how on earth are you gonna make a functioning market if people can't afford to purchase goods and services at a competetive price? 

     

    I just don't see how your economy will be able to compete with other capitalist economies...

  17. Posted · Edited by patrick1333

    On 15.4.2017 at 12:01 PM, Sasper said:

    I've made a calculation to illustrate how much a 1000 dollars would make in just 1 year, with a interest rate of 2% every week.

    58f1edafdb999_Skrmbillede2017-04-15kl.11

    This mean that if I open an account today, and deposit $1000, I will in one year have a profit of $1800!!!!

    In two years it would look like this:

    58f1ef5f18db2_Skrmbillede2017-04-15kl.12

    This is a very very high interest, on a very frequent basis!!! Other banks pay out interest p.a., or maybe once every 6th month. How will you ensure that you have enough capital to payout all your stakeholders?

    As Einstein once should have said: “The most powerful force in the universe is compound interest”

    2% compounding every week is really nice haha. Where I live, the key rate is currently at 0.5% 

  18. Posted · Edited by patrick1333

    I just want to point out something in your formula.

     

    Your formula: % of Money paid back on time * net worth - amount of money owed * number of weeks payments were made late.

    I assume paying back money on time is a good thing. By doing: "net worth*0.8" you're calculating a 20% decrease in score. In your case: "250,000*0.8=200,000". Solve for percentage of decrease: "200,000 / 250,000 = 0.8. Subtract the total percentage of 100% (1): "1 - 0.80 = 0.20 = 20% of the original value of 250,000". Credit scores are more reliable the higher they are. I assume you want paying back on time to be a good thing.

     

    In this case, if you do: "(1.80 * 250,000) - (30,000 * 2) = 450,000 - 60,000 = 390,000" I belive you have a better result.

    In this case (when multiplying like this): 1.80 is an increase of 80%, while 0.80 is a decrease of 20%.

     

    Also, can I suggest you divide the answer by 1000? That way you'll eliminate the "k" and have more of a "score" rather than amount of "currency".

     

    This would then be the formula: "((% of money paid back on time + 1) * net worth - amount of money owed * weeks of late payments) / 1,000 = ((0.80 + 1) * 250,000 - 30,000 * 2) / 1,000 = (450,000  - 60,000) / 1,000= (390,000) / 1,000 = 390". So then you have a credit score of 390 instead :)

     

  20. Posted

    Name: Patrick

    Appearance: Muscular build, slight facial hair, business smart clothes, green eyes, 6'1 feet, ginger hair.

    Race/ethnicity/nationality: Caucasian/Scandinavian/Norwegian

    Personality: Formal, introverted, smart, causual (in informal circumstances)

    Education: High scool, auditing, accounting

    Sexuality: Heterosexual

    Misc Facts: Loyal

    Background: Grew up in the suburbs. Had a rather easy childhood. Had private educaction through middle school and high school. Studied economics, law and entreprenaurship in high school. Has a university degree in auditing and accounting.

    • Like 2

  21. Posted

    Hey there.

    I've been a backer of the game for a few years now, but only recently decided to make a forum account. Can't wait for the town square module to be released. I have a good feeling about this game.

    • Like 1

  24. Posted

    Hey, folks!

    So this looks like a pretty interesting project, I've been a backer for a couple of years now. It seems the devs have very ambitious plans for this game and its mechanics. It seems they have talked about everything from business, real estate, the job market, crime, entrepreneurship etc. There is, however, something I haven't seen been discussed much, at least not on the forums. What am I refeering to? Well, quite frankly my post is about the economy of Identity. Now, as a big fan of economics, I clearly understand the depht and complexity of our modern economy, of the real world , that is. I do, however, have some inquiries about how the economy of this game will function.

     

    Will there be several currencies (with different exchange rates etc.)?

    Will there be a stock market and publicly traded companies? How will investments work, if possible to invest?

    Will there be a nominal interest rate, and, with that, a rate of inflation?

    How about government spending and debt?

    Will the unemployment rate affect the overall economy?

    Will there be business finance? Maybe you need to hire an accountant to keep track of revenue and expenses.

     

    Generally, how will economics work in this game? I would really hate for it to just be money showing up in your bank and that's it. It would be cool to see a much more complex economy than in games such as GTA 5. Maybe someone with some insight could inform me a bit.

     

    Thanks _)

     

    • Like 2