CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
So, I recently found a thread regarding a loan system. It had flaws, but everyone said how flawed it was and never gave bypasses, besides me and a few others. Though, nobody read those bypasses, so, I figure I'll do a repost with them.
Now, before you read ANY of this, please mind, this is a CONCEPT(as the name suggest), and of course, not everything would be added if this concept was even considered.
Also mind that if you reply regarding an issue, make sure you have read thoroughly all of the thread to make sure there are no bypasses to the issue, and if there aren't, give a bypass to the idea if you can find one.
Now, lets start.
"Loans?", you may be saying. Most people will know what a loan is, but, to those who don't; a loan is like borrowing money from your mother, and then paying her back later.
The loan system would work as it would in real life, but with a bit of a ROBLOX twist.
When taking a loan, you could take money anywhere from 1 ticket(tix), to 999999 tix, and R$1, to R$999999. Being, just one from a million tix or ROBUX.
When you take the loan, you will have a deadline to pay it back. That deadline would probably be dependent upon the amount. ROBLOX would sort that bit out.
Now, before I get to what happens after the deadline, I must go into the loans more thoroughly.
With the loans, you would have a tab next to your currency in the top-right corner. It would be a button you could click to go to the loan system and take out a loan, as well as have another feature that I will go into later.
In the loan screen, you will have the option to both take out loans, as well as see your current loans, what you've spent with that loan, what you have left in that loan, what you started with, and the deadline to pay back that loan.
Now, I think I've gone into that bit thorough enough, for now.
Lets get into the deadline.
The deadline will be like going into debt. In the corner, the tab that takes you to loans will be red, and have a number around it that says how many loans are pass their deadline.
After you pass the deadline, a few things will happen. First, you won't be able to buy anything with the loan money. Secondly, you won't be able to use anything bought with the loan money. Whether fully, or with just one ticket. And lastly, you will constantly gain (simple)interest on the loan.
Simple interest is when you cross the deadline, you will constantly gain a percentage of the loan added on, but it will not use the interest built up. That would be compound interest.
So, for example, if you took out R$500, and you had 0.5% interest, you would gain R$25 every, say, month, to pay back your loan on. Of course, 0.5% interest is quite a bit, so it would probably be something like, 0.05% every week.
And an addition to pay off your loans: Selling your items bought with the loan money.
So, you may be asking, "What if we just get a loan, buy an item, use it, sell it, and pay off the loan? It would be like renting an item for free.". Well, I've bypassed that.
You can only sell it for 75% of the original cost.
So, if you buy an item with loan money and want to pay it back, you can sell any items bought with it. But, to keep from "borrowing"(As I've named it. :3), you will only be able to sell an item for 75% of it's original cost, thereby keeping from borrowing.
Yet another addition, to keep from spending different loan money or real cash on an item.
When you try to buy an item, it will ask you if you want to use your own, normal cash, and if you want to customize your purchase.
When you customize your purchase, it will give you two options.
Firstly, you will be able to choose which loans you will use money to get, or if you want to use your current, real money(Non-loan money. Not real-life currency).
Second, you will be able to choose how much money of each loan you will spend, or how much of your real money you will spend.
Now, you may be asking, "What if we just take out a loan on one account, and trade it to our new account via gamepasses or trade system?". Well, I've bypassed that with several simple things.
First being, you cannot use loan money on user-created items. You can only buy hats, gears, and packages.
Secondly, you cannot trade loan money via the trade system.
And thirdly, loan money would be limited to certain key user aspects. This would also bypass any newbies that may happen to stumble upon the loan system, and ruin their account.
First would be having a certain amount of player visits to your game.
If you've had over 1000 player visits to one specific game, then you may take out loans.
If you have BC/TBC/OBC, then you may take out loans.
If you've bought over R$1000 total through the ROBUX-for-real-cash system.
And lastly, no matter what, whether you have 1000 player visits, have BC, or have bought R$1000 total, you *must* have played ROBLOX on that account for at least six months. Being, half a year. Not so much as a Veteran, but not so much as a newbie, either.
Now, you may also ask yourself, "What if I just take out a loan, buy a Limited item, sell it, and pay off the debt as well as get excess money?". Well, you won't be able to. You won't be able to buy any Limited items with loan money, even if it were only a small portion of the cash used to buy it.
And again, you may ask yourself, "What if I buy an item with loan money, *and* my real money? Or even with multiple loans?". Well, I've bypassed that as well.
If you buy an item with multiple loans, you will get 75% of each loan re-added to each loan account, depending on how much was spent. Any decimals will be rounded down if below 5, and up if above 5.
If you buy an item with both loan money, and real currency, well... You have a bit of a loss there, if ROBLOX isn't kind.
If ROBLOX would do so, if this was added, you could sell it and get 75%, if not all, of your real currency back.
But if they won't, then, unfortunately, you would get nothing of your real cash back.
Now, I'm fairly sure I've covered everything necessary. If you do find a problem, simply reply, with a bypass if you can think of one. If you can't, or I think it could be added to, I will do so to the idea. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
This oddly got no views, let alone replies...
LOOK AT ME!!!
DDDD: |
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DanQZJoin Date: 2009-12-03
Post Count: 1643 |
Nobody is done reading it yet, let alone understand it, be patient. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
...
This may possibly be true.
But, still, I posted this at least twenty minutes ago before it left the front page.
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The concept is pretty interesting, but I suggest the following revisions:
1. Increase the interest rate and compound it and the principle investment. I think the interest rate on my student loan is about 4.7% compounded monthly. Half a percent is incredibly small for an interest rate, let alone one with simple interest. I would like to see it somewhere around 5% compounded monthly (if I take a 1,000 R$ loan, I will have to repay 1,050 R$ at the end of month one and 1,103 R$ at the end of month two).
2. Allow users to buy any items created by ROBLOX with loan money, including limited items. Let users use the loans as potential investments, and let them acknowledge that there are risks associated with loans. Some limiteds are epicly successful, while others flop; it is up to them to decide whether the risk of not getting a return on their investment is worth the burden of the loan.
3. Increase the punishments for not paying back a loan before a certain date. For instance, after 90 days, ROBLOX will automatically withdraw all unspent money from that user's account, and any remaining balance will be taken out of their daily stipend (the 10 tickets, BC R$, and money from place visits and selling items) until the loan is repaid. If the loan is not repaid in 180 days, any limited items on that account are sold in order to pay off the loan. If after 365 days there are still portions of the loan unpaid even though the previous methods (such as a BC member taking out a million R$), that account will be suspended and all games created by that account will be closed for a period of time (such as a 1-day ban will pay off 100 R$ in the loan, a week ban 700 R$, etc).
4. Remove the place visits requirement. I do not see how place visits play a role in determining whether the user is mature enough to take out a loan. A better requirement would be a BC, 13+, and veteran account
5. Mention that loan money cannot be used through the developer exchange. All we need to see is people taking out a million R$ and cashing it out through the exchange. Allow tickets to be used on advertisements also (similar to an investing tool if the user is confident that his place will become popular). |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
"Increase the interest rate and compound it and the principle investment. I think the interest rate on my student loan is about 4.7% compounded monthly. Half a percent is incredibly small for an interest rate, let alone one with simple interest. I would like to see it somewhere around 5% compounded monthly (if I take a 1,000 R$ loan, I will have to repay 1,050 R$ at the end of month one and 1,103 R$ at the end of month two)."
Ah, yes. I was calculating like an idiot, doing the wrong things, and it came out for 5% to be 50%. Whoops. :3
"Allow users to buy any items created by ROBLOX with loan money, including limited items. Let users use the loans as potential investments, and let them acknowledge that there are risks associated with loans. Some limiteds are epicly successful, while others flop; it is up to them to decide whether the risk of not getting a return on their investment is worth the burden of the loan."
Well, I guess that's true. But, in the original thread of this, everyone complained about, "Buying a Dominus and losing all your money, and destroying your account", and crap like that. So, I figured that was a bypass.
Personally, I find no problem with it. But, others do, oddly.
"Increase the punishments for not paying back a loan before a certain date. For instance, after 90 days, ROBLOX will automatically withdraw all unspent money from that user's account, and any remaining balance will be taken out of their daily stipend (the 10 tickets, BC R$, and money from place visits and selling items) until the loan is repaid. If the loan is not repaid in 180 days, any limited items on that account are sold in order to pay off the loan. If after 365 days there are still portions of the loan unpaid even though the previous methods (such as a BC member taking out a million R$), that account will be suspended and all games created by that account will be closed for a period of time (such as a 1-day ban will pay off 100 R$ in the loan, a week ban 700 R$, etc)."
Well, I agree with some of that. I agree with the idea of automatically withdrawing any excess cash after awhile, and I even thought about it, but figured people would get butthurt about it, so I didn't say anything.
But as for the bans... I think that's a little far. Maybe if it was optional to do to pay off the debt, and otherwise have more and more restrictions taken away, including things such as playing games, but, a full-on ban is a bit far if it isn't completely optional. Especially the games getting paused.
I mean, what if it was a good game, getting him lots of cash to repay the debt, but it was a big debt? He might even be losing money, rather than gaining. Though I get the point of, if it was popular enough to generate R$100 in a day, it would be paid off, buy, y'know. There's still the problem of the players. He would get major hate, so many people quitting, and never really checking up to play his game again, etc.
You get me, right?
"Remove the place visits requirement. I do not see how place visits play a role in determining whether the user is mature enough to take out a loan. A better requirement would be a BC, 13+, and veteran account"
Well, I realize that, but, usually a set amount of visits would mean he could use that kind of thing to pay off any loans he happens to make. And, being a Veteran doesn't technically mean you're mature, either. In my first year of ROBLOX, even after becoming a Veteran, I was still very unwise and immature. As for being BC, that could still be bypassed just by some kid begging his mom for money for BC. And as for being 13+, people could just lie about their age. I just recently turned 13, and everything before that I lied about my age.
"Mention that loan money cannot be used through the developer exchange. All we need to see is people taking out a million R$ and cashing it out through the exchange."
Ah, yes. I hadn't thought about that. That is a major bit that I should have added.
"Allow tickets to be used on advertisements also (similar to an investing tool if the user is confident that his place will become popular)."
Well, that's a bit of a problem, though.
I mean, he could take the loan and use it on ads, but what if it doesn't get popular enough to pay it off?
Selling items to pay off a loan is one thing, but you can't sell advertisements. They've already been shown.
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The ban option might be enough for users to realize that the loan system isn't simply free money. If someone wants to do something risky, like take out a million R$ as a BC member who only receives 20 place visits a week, then he should be punished for it. His account is suspended (though closing his places might be excessive). Maybe at the 365 day mark, all ROBLOX-created hats/gears on his account are sold, and he is subsequently banned for however long until the loan is repaid.
I was thinking about it, and there might need to be extra parameters to the punishments to make sure users do not find a way to exploit it. For instance, as soon as the loan is initiated, the user will be unable to trade anything in their inventory (prevents users from trading their limiteds to an alt right before they are sold due to not repaying the loan).
I don't see how place visits can predict success. If someone were to compare a 2009'er with 1,000 place visits and a 2014'er with 1,000 place visits, both qualify for the loan, though the 2014'er might be more qualified (compare the 2009'er earning about 200 visits per year compared to the 1,000 visits per year for the 2014'er).
I feel like a 13 year old should be able to understand what a loan is, that it accumulates interest, and they are responsible for repaying back the loan as soon as possible (or face consequences).
I see using the loans on advertisements as a way of investing. Like a person using a loan to purchase a limited item as a form of investment (where some limiteds succeed and others flop), the user is taking a risk in determining whether the advertisements will bring in a return on investment. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
"Maybe at the 365 day mark, all ROBLOX-created hats/gears on his account are sold, and he is subsequently banned for however long until the loan is repaid."
Bah! No. What about some of the limited-time items? Maybe if it were only to sell the items that are still on sale. Besides Limiteds. They'd go.
"I was thinking about it, and there might need to be extra parameters to the punishments to make sure users do not find a way to exploit it. For instance, as soon as the loan is initiated, the user will be unable to trade anything in their inventory (prevents users from trading their limiteds to an alt right before they are sold due to not repaying the loan)."
That'd probably work.
"I don't see how place visits can predict success. If someone were to compare a 2009'er with 1,000 place visits and a 2014'er with 1,000 place visits, both qualify for the loan, though the 2014'er might be more qualified (compare the 2009'er earning about 200 visits per year compared to the 1,000 visits per year for the 2014'er)."
That's true. I sort of thought about that.
Maybe it could be something of the sort like, 1,000 visits made in one week or so.
"I feel like a 13 year old should be able to understand what a loan is, that it accumulates interest, and they are responsible for repaying back the loan as soon as possible (or face consequences)."
That's true, and I do. But, it seems as if there would be many problems if punishments went that far.
I mean, people play video games to get away from life. Not into it. Well, usually. And I get how they can just ignore the loan system and all... I just feel like there would be problems.
I mean, what if it was a very big loan, that the interest rate was higher than he got in a day of a ban? The ban would never stop, and he'd be deleted in total, because he made one stupid decision.
"I see using the loans on advertisements as a way of investing. Like a person using a loan to purchase a limited item as a form of investment (where some limiteds succeed and others flop), the user is taking a risk in determining whether the advertisements will bring in a return on investment."
Mmm. I guess that's true.
They could put a warning, as you suggested, I guess... And if they didn't follow it, well, I guess it'd be their fault.
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Maybe the loan can be forgiven after a 180-365 day ban? The ban itself is long enough to make people wary of taking out more than they need, but, once they are unbanned, they will essentially be starting all over again in accumulating wealth (like bankruptcy). |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
Mhm. I think that would work.
As long as, again, it has a warning about the punishments.
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BahllJoin Date: 2011-07-01
Post Count: 8150 |
I do not support. Too many peoplewill not inderstand and will take huge loans and get in debt. Just generally sounds bad to me. |
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@Bahll
But that is why the loan program is limited to 13+ BC members who earn about 1K place visits a week. A 13-year old should have a basic idea of how a loan works and should understand the risks associated with it. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
Wait, Acebaton... You mean they would have to have all those in unison?
Nonono.
13+ only, with either BC or 1K place visits per week.
Both would be very few people that actually use loans... It wouldn't be worth it to ROBLOX.
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Im too lazy and tired to read this post. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
^
Get off S&I, you tl;dr'er.
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BladesmcJoin Date: 2012-01-18
Post Count: 193 |
Maybe if you pass your deadline then all revenue you make (including login bonus, whether it be 10 tickets, 15 R$, 35R$, or 60R$) goes directly towards paying back your loan, PLUS interest rates increase after a set amount of time. Otherwise, I could just let the loan rack up but never have to pay it off. (PHREEEEE MUNY!!111) |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
^
Read whatsherface's post.
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It's easy. If you want a loan, you will be needing a vouch. ALOT of vouch. And a collateral.
The person that wants a loan has to give something that worths more than robux he wants to loan, to prevent scams. |
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That's something. So say I wanted to take out a 1000 the loan, I would be required to offer something worth maybe at least 110% of the loan, so I would have to offer 1100tix worth of stuff that would be taken as a loss. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
^
Are you suggesting that this system wouldn't work?
Because, it very much would. Both for investments, as Acebatonfan suggested, as well as impatience.
You could find a hat that you could get in a week, but would go off-sale in a few hours. What do you do? You take out a loan! Then, after the week, you pay it back.
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Why are you taking my idea? |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
^
Didn't read the first line.
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I did. This doesn't mean you have to make a separate thread about the "flaws" on my concept of loans. |
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CoriandrJoin Date: 2014-06-25
Post Count: 6850 |
They weren't "flaws".
They're problems that apparently nobody could take a minute to think about, and bypass.
So, I did it for them.
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Never said anything about this system not working. Just that, it's a 0 risk for noob accounts. You have to have made the account half a year ago, but what about using it? 1000 place visits: developers and developers only. The problem is there is no actual stake. So what, buy the limited and after a year it's out of stock already and no one will buy it.
There should be a value above that you would offer in order to verify that you have something of worth that can be taken. Kinda like a mortgage in real life, you don't pay for the house, the house is taken away. |
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