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Bank Interest?


evilrodyle

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Ive always wondered the possibilty of this one day. Then today I was killing dragons and that usual urge to examine everything kicked in. So I examined the board and it said this...

 

 

 

interestxi7.png

 

 

 

low..low? how low? Even if its low its still got to be something. Maybe a future update will allow bank interest? Like every passing day You get idk...like 100 coins or something?(cant really be based that much on how much u have because some people have 1bill+ and it would be too unfair. Wouldn't be a life changing update or anything but interesting nonetheless to maybe see 1k+ more money in ur bank everyday ::'

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It's a very interesting idea, I'll give you that.

 

 

 

But seeing as Jagex is scrambling for ways to take GP out of the economy, it doesn't seem all too likely.

 

 

 

EDIT- I just thought about the examine. I think you're confused on what they mean by interest.

 

 

 

If they're advertising a "Low" interest rate, they're probably talking about lones. A greater interest rate translates to more money you owe the bank the longer you take to pay them.

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Like we need to pointlessly screw the economy even more :lol: (*cough, PC, *cough)

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When they say interest, they probably mean on loans that you take out.

 

Anyhow, your bank account is like a bank security box.

 

I think most people have to pay money to get those unless you have some certain sized money account or something.

 

So lets not push up that avenue. :ohnoes:

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Ive always wondered the possibilty of this one day. Then today I was killing dragons and that usual urge to examine everything kicked in. So I examined the board and it said this...

 

 

 

http://url151.imageshack.us/url151/7249/interestxi7.png

 

 

 

low..low? how low? Even if its low its still got to be something. Maybe a future update will allow bank interest? Like every passing day You get idk...like 100 coins or something?(cant really be based that much on how much u have because some people have 1bill+ and it would be too unfair. Wouldn't be a life changing update or anything but interesting nonetheless to maybe see 1k+ more money in ur bank everyday ::'

 

 

 

Bank intereest is meant to counteract inflation. Once they accuratley work out the inflation rate in RS, then they can give interest on cash in the bank. And it would have to be based on how much you have, or it would not counteract the inflation at all. What people dont realise is that for someone with 1B, the amount they get in interest per day, is the value they would lose due to inflation in that day. SO it's not as if they are earning money by it, just maintaining thier item value.

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In my view it is clearly jagex humour. Banks are used in Runescape are used as a type of savings.

 

IRL savings are supposed to have higher intrest rates to incourage you to save your money with that particular bank. The humour about the "low low intrest rates" then surely becomes obvious?

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Bank intereest is meant to counteract inflation. Once they accuratley work out the inflation rate in RS, then they can give interest on cash in the bank. And it would have to be based on how much you have, or it would not counteract the inflation at all. What people dont realise is that for someone with 1B, the amount they get in interest per day, is the value they would lose due to inflation in that day. SO it's not as if they are earning money by it, just maintaining thier item value.

 

 

 

Inflation is the lowering of something's value. What you are suggesting would only increase inflation. If you meant deflation then you are correct but with high alch and pest control in the game I don't really see that becoming a problem soon, if ever.

 

 

 

 

 

I believe that they are being facetious when they refer to "low, low" rates. Zero is about as low as it gets. :lol:

 

 

 

 

 

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I believe that they are being facetious when they refer to "low, low" rates. Zero is about as low as it gets. :lol:

 

At least someone else get the joke :D BTW Rahk congrats on becoming a moderator :wink:

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I always wanted a loan system on RS, where you can borrow up to like, 2.5mil, but you have to pay back like 10k every week.

 

 

 

That would result in people making loads of accounts, borrowing the max, drop trading to their main, and then inflating the economy like a balloon.

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yeah, loans wont happen, and interest isnt going to happen.

 

 

 

thats just a joke by jagex, because bank's always advertise there low interest rates, when really their always on the rise!

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Inflation is the lowering of something's value. What you are suggesting would only increase inflation. If you meant deflation then you are correct but with high alch and pest control in the game I don't really see that becoming a problem soon, if ever.

 

 

 

 

Inflation DOES equal GP devalument. It means that each gold piece has a slightly lower buying power than it did a year ago. So why do you have intrest? SO that when you put money in the bank, you get the amount of money added to teh bank that increases the number of gold pieces to the number which matches the buying power of what it was a year ago. So, if we say that inflation is 1%, then interest matches it, at 1%. So 100k, over a year, becomes 101k, because this new number matches the buying power of 100k a year ago. Deflation means that the total amount of money within the economy is decreasing. This means that each gold piece is worth MORE than it used to be. If this occured then, for example, 99k this year, would have the same buying power as 100k last year.

 

 

 

So no, I really do mean inflation. The problem with this kind of interest is that, if JaGeX simply added the money to the game, then it would, as you said, increase inflation. So, the question is, how do we recylce money that is allready in the economy, to provide interest. Well, one example would be taking the money that is spent in shops etc and then using the gp that would otherwise be lost from the economy, to provide the money needed for interest. But even this method means that we will still be catalysing inflation's rise, as the decrese the drain on the economy.

 

 

 

The solution is not interest, but to minimise inflation. It is impossible to have a completly stable, or neutral, in inflation or deflation, economy. SO that means that we are likley to have an economy perpetualy subject to inflation (just like almost every economy in the world today).

 

 

 

My answer to the whole problem is the rares market. It's risky, unstable, and can end up losing you a bit of money. But, if you invest carefully, you can beat inflation. IF you are going to be leaving a large anount of money sitting in your bank, then buy a rare. This way you wont lose buying value, and may even get some profit.

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Also, in some bank, draynor and fally of the top of my head, you cna actually "read" the messages and a thing coems up about PINS and such.

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Bank intereest is meant to counteract inflation. Once they accuratley work out the inflation rate in RS, then they can give interest on cash in the bank. And it would have to be based on how much you have, or it would not counteract the inflation at all. What people dont realise is that for someone with 1B, the amount they get in interest per day, is the value they would lose due to inflation in that day. SO it's not as if they are earning money by it, just maintaining thier item value.

 

 

 

yes interest just keeps you up to date with inflation

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In my opinion, they just put that there to make it look more like a bank. Sorry to poop your party :P.

 

 

 

-Dutt

 

 

 

I agree. :)

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