Properties Giveaway

Hello All!

I have some extra properties laying around, and I'd like to share them.

But giveaways are almost too easy so instead I'm interested in your opinion.

What do you think the effect of having the Cayman Islands bank accounts bear interest will be on the game?

How will it effect the amount of money is circulation?

What effect will it have on the wealth distribution?

1st prize is a castle, and other properties will be awarded to other answers of merit.

I'll close this out later today.

well i dont think that you get much interest from money you put in the cayman bank so if you are looking for interest of your money and you can afford to wait you are better off using the torn city bank also the only good thing about Cayman islands is that you can take the money out whenever you want.

Hmmm, partial credit for a quick and unconsidered answer.

I want a deeper analysis. What about how it could potentially widen the wealth gap by giving the super rich an additional option to constantly grow their money after maxing out the bank?

The fact that there is a barrier to entry (travel) that prevents the earlier level player from using it for a while?

The effect more cash being created and circulated will have on inflation?

You have given your Detached house to THE-BATS!

There could be an increase in available cash due to the interest earned on the money stored in these accounts. If this is the case it may inflate prices which will make things more difficult for new players with little money.

However, some people who have been buying items as a way to keep money safe may start using these accounts instead. If this happens, there may be more items on the market with less demand. This would drive prices down and be beneficial to newer players.

I guess we will have to wait and see how it plays out.

I agree, but won't that just mean newer players spend their money on these goods at the now depressed prices, so medium and small level players are making less money, but initially won't complain because their buying power will remain unchanged.

Over time though, the disparity in cash hand would increase on either end of the spectrum, with lower level players have less cash through decreased trading prices and upper echelon players making cash hand over fist view non-trade related methods?

You have given your Ranch to Jesmond!

I'll try to give my opinion on the subject and answer some of the questions included.

Before the update, the benefit of Cayman Islands bank was that you could leave your money safely there and take a vacation from Torn. Companies are deleted after 90 days of director's inactivity and can be hacked, Factions can be destroyed (hard but possible), Bank has a investment period. Because of the deposit fee at Cayman Islands bank, players with a lot of money rather decided to invest money into stacking some 'stable prices' items like Xanax, Collectibles and more important - points. Buying lots of points was a fair way of securing your wealth.

After the update, things changed (obviously!).
First impact on economics was the price drop for points. Everybody wants to store their spare money in Caymans, since now the money itself could start making some passive income and the deposit fee no longer exists. People started selling points, there was not enough demand, so the price drop was inevitable. If you remember, Loan Shark upgrades were refunded at that point too, so that worsened the situation even more.
At the moment of writing, price per point is 67k, and it was a stable 80k per point back then.

While in theory this sounds like a way for rich guys to get even more rich, truth is that the interest is not that impressive (0,5%) and shouldn't be that much of a problem, shouldn't be deepening the barrier between the poor and the rich.

Mind that some upcoming Oil Rig specials affect the Cayman Islands Bank.

Oil Rig
...
5 star Oil Mogul - 24 hours bank investment time (75 job points)
7 star Tax Haven + 10% increase of Cayman Islands interest rate (Passive)
10 star Fat Cat + 50% investment banking limit (Passive)

The fact that there is a barrier to entry (travel) that prevents the earlier level player from using it for a while?

New Players struggle to fill the regular Bank limit which offers much better interest rates then the Caymans, not even mentioning that newbies could easily get mugged abroad, especially in Cayman Islands. So, in my opinion, this is not an issue.

The effect more cash being created and circulated will have on inflation?

Just so we could get an image of how little that interest is.
If you have 1 billion cash stored there you will gain 5 million per month.
If you have 10 billion cash stored, that makes up to 50 million per month.
Now if you really have 10 billion stored, 50 million is a pocket change.
You could easily spend it on Casino night without even blinking.

The point is, even though passive income is always better then no income, money stored there could be used much better for trading/stocks/properties and can earn much more money then just laying around. So rest assured this is not a loop hole/easy way for rich players to become dirty rich.

Just my 2 cents:
[image: www.culpwrit.com]

I did forget to mention how price drop in points dragged prices of Plushies and Flowers down meaning that flower running/one of the main ways to earn money (especially for newbies), now brings less money, directly effecting newbies.

But this is the consequence from the update, not literally from existence of Caymans Island Bank.

The Market is a living thing, I believe it will all sort out. Like Jesmond said will have to wait and see. [:smiley:]

I assume you are trying to find information to use it and make money by predicting future price changes, it won't work.

First of all thank you!

I guess it will work out a lot like the distribution of wealth in the real world. The rich get richer, it takes money to make money...but that doesn't mean new players will never get rich, it just means they will gave a harder time getting rich. The fact that the rich are going to have another method of making money just means the new and poor players will have a different economic climate to work in.

Seems like Torn City is its own model of capitalism.

Hey DarkLegacy,

Nope, I have more cash than I know what to do with, just wanted to have a discussion.

GetRich, enjoy your new castle, I appreciate you taking the time to give a well considered opinion!

I actually enjoyed taking time to analyze this thing.

taylmer has given you their Castle.

Thanks taylmer! :)

could use some help

Taylmer -- Thanks for lucidly managing to educate (me) through a wonderful question.
GetRich -- CONGRATS, and a bigger THANKS for your analysis.

just like the real world, there is truly a lot to learn.

Hey LordSam, Allergic2bs,

I'm always down for helping out.

In that interest, I'm curious and would like to pose a question to you.

As a newer player, what to you aspire to achieve in the game? What do you see as the most valuable asset to acquire?

Again, and as always with me, intelligent answers are likely to be rewarded.

As a newer player, what do you aspire to achieve in the game? What do you see as the most valuable asset to acquire?

to be truthful while answering is to fool one's own self... but, i will try to be as near to truth as possible:::
.... my first aim was to avoid being hit / lying in hospital. I could achieve this by a backdoor trick.
.... now my aim is to up my stats. being done.

The moment I touch level 15 (though only level 10 is required) ... i will FLOAT my own company. (just as in real life)'
and, this is what my aspiration / breath as of now in TORN.

thanks for motivating me. :D

hmm I am 15 years old I have no clue how to answer this but why do you want to know this, how is it helping your game sxperience?

is the question not related to the game? .... i think, you took it differently.

just my thought.

Then I still wouldn't know how or what because I am a newbi :D

over 2 months, net worth over 1,000,000 --- married., living with spouse, won over 50 attacks, LEVEL 11 ... and still you call yourself a NEWBI?

hahahaha.

Somewhere in the middle I stopped playing this for a month. I lose all the time for money and found a power leveling guide that shows who is easily killed. I got a spouse a few days ago because of house share. And the donator pack earned by going to another game as refferal.