It's just like the famous 'high risk high reward' quote. It's the same as buying a expensive company and having the risk to run at a big loss if you don't aquire good employees, but if you do, it can make you good money. Or you can be a employee and earn less, but it is more stable and kinda guaranteed profit. Not as much as owning the high end company, but still worthwhile.
I actually used to do this buddy banking for quite some time with a friend. Know him for my whole torn career, why would i screw him over if this system profits both of us? I don't have that much liquid cash for the bank so he is the settlor.
I learned that 'risk' is bad thing, but it can bring great wealth too. Yes, if someone steals your assets, that would mean that it will take a long time to get back to your starting point. But it can also mean great profit if you happen to find the right person.
Buddy Banking and bbs have been around for a while. I was apart of such a program early in my torn life. The article doesn’t really spread anything new. Many of the rich do it all the time
The key is to 1) find people you trust and won’t scam u and 2) make sure that they are committed to the game and don’t go inactive without letting you know
#2 is a little harder than #1 imo.
Its worth it if you can find people that match that criteria but that is usually where it breaks down for most people.
More like cultivated multis who have all their merit spends on bank interest...and then they go to play poker in Juan on Juan or something to pass cash to the parent account, undetected by any sort of alert system.
My type of buddy banking is the stock market where I can have (1) unlimited investment, (2) complete control of my money while (3) having much, much better gains than the bank could ever give me. The Buddy Systems failed on all 3 accounts.
With this mechanic and this good of a return, Buddy Banking systems belongs to the trash. It literally advocates to risk 100% of your money in a newbie for a worse return than 1.53% per week. Bitch, I can get 1.53% PER DAY just by doing the stock market.
In fact, I put money into the ELT stock 3 hours ago, this is the return:
realistically speaking, you can withdraw all your bank investment and do stock surfing, buy the dip then wait 2-3 days for it to get up to a satisfactory level, sell it and you'd have much, much better gains than leaving your money in the bank, while having more merit to invest elsewhere. It's not even about the amount of money, it's about the rate of return of the bank being abysmal when compared to the gains you can get from stock market.
I did this early in my game. Then my buddy lost their password and couldn't get it restored, meaning a lost a HUGE part of my assets. I was not scammed (confirmed), but even with best intentions it's way too risky.
Yup. I lost a couple of BBs back when I started; if that player came back active, I would be happy to take my PRN and LSC shares back, along with five plus almost seven years worth of stock dividends :)
Seems super obvious to me, not sure how it got an article.
As far as risk, there's plenty of trustworthy people around. There's always a chance someone goes inactive, but if you lend to enough people the higher return balances out the risk.
"Buddy Banking" has been around since I was a n0ob on my first account around 15 years ago and we were limited to $4m investments in personal banks and we did it again recently in Evolution to a degree.
Of course it is a trust issue and people have to be careful.
As someone said this isn't actually new. I mean I was sharing by banking stock before the update. The only difference now is you need to be a bit more organized since there is a week cool down.
To go a step further, it actually if you do it right makes the bank stock more profitable, as a larger group of folks can split the cost for a very high return on your investment. So for example, if you rotated your block with six people that's a pretty small outlay of initial cash for a huge bonus with banking.
The obvious caveat is people you can trust. If you can't fully trust anyone then the whole thing is a mental exercise. If you have some close friends and people you actually know you can rely on there's lots of money to be made via sharing stocks, fronting money and splitting (i.e i give you two billion you give me x percent) and so on and so forth
[background color=var(--bbc-body-bg-color)]The risk assessment on buddy bank is tripleV high risk. So many things can go wrong and u cant control it. [/background] And simply also, becus u[background color=var(--bbc-body-bg-color)] can make 2bn in less than 2 years. dont even require hard core playing. u dont even need to have donator status. u just need the know how, and what to focus on. [/background]
If you could find someone you trust that just started out then it might work out. Otherwise be ready to send over the cash and never hear back from the person.
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