This forum is for good investors without enough money and rich people who are nice and/or lazy!
Description: Many beginners have very good ideas, but not enough capital to snatch big opportunities and make big money. So, rich people who don't want to do much work but want profit can give money to the beginners. When the beginners make money back, rich people get a split.
Rules:
Before one takes out a mana loan, they must have the capital to pay back the entire sum (whether one uses that capital during their mana loan time is up to them, but watch out for rule #2).
Mana loans must be paid back if possible, whether there is a win or a loss. If the mana loan is unable to be paid back (the person has net zero money), many people, including me, will report them. As for the investors, there is a safety bank of money (in my account that comes from big donors and me, which I do not touch) that can cushion big falls, but nothing is guaranteed.
The split (if there is profit) between investor and invested is decided amongst them before the transaction.
Each separate mana loan can only be used for one purpose (bet on one market). Once this market resolves or the person sells their shares, they have one day to pay the investor back.
If this seems complex, don't worry, I will track everything and try to make sure rule breakers are reported.
Note: ALL TRANSACTIONS are in MANA, no real money happens here. we're just some dudes having fun
Mods: "I would recommend not spam reporting each other though. we don't get context in the backend, and we probably won't ban people over it. Bad reputation for them is enough (failing to pay back any loans tends to get folks blacklisted from more loans in the future). I'd suggest to anyone who finds themselves at risk of missing a loan payment to renegotiate terms with your creditors before you're late. That should keep everything above board."
Recognition for Big Donors:
🥇 Supreme Moneybags (Pat Scott - 200 Mana)
🥈 Captain Deep Pockets (Mrdudeguy - 150 Mana)
🥉 Lord of the Purse Strings (No one yet)
fun new take on the loan system that helps newbies. I would recommend not spam reporting each other though. we don't get context in the backend, and we probably won't ban people over it. social contract is enough; failing to pay back any loans tends to get folks blacklisted from more loans in the future.
I'd suggest to anyone who finds themselves at risk of missing a loan payment to renegotiate terms with your creditors before you're late. That should keep everything above board.
btw, Im looking for 2 big loans pls. We'll split 50/50. :)
Loan 1 Payback: July 10 (150 + 50% of profits to @Mrdudeguy )
Loan 2 Payback (200 + 50% of profits to @Stralor): July 15
@Chimpey I'm a little confused on how these loans work, but I might give it a go. Can you give me any info on how you plan to make more money, and clarification for the terms?
@Mrdudeguy yeah! ask any specific questions about the terms. as for the rest, we'll sort it out together over private :) you can rlly only make a positive profit in this deal
@Chimpey Im looking for another mana loan, big oppurtunity within 5 hours. I'll pay your back right after in like 5 hours. 🥺 around 70 mana is all I need
@Stralor @Mrdudeguy btw guys, if u havn't noticed, i've pretty much doubled the loans you guys gave me. hehe. just corss ur fingers and hope i don't lose it all. lol. got a big string of markets bout to resolve. some are garuenteed profits but others not so much. but i also make money through buying and selling shares. i don't necessarlily make all my moola through resolutions.
@Chimpey I've noticed you're doing incredibly well. Good strategy, I've noticed it's tempting to see something to resolution even though, if the market likelihood has moved to be close to what you think the odds actually are, it's usually worth selling.
@Mrdudeguy hmm... ig, unless im really really sure that the market resolution will lead my way. otherwise, if selling shares make around same profit as the resolution iwll, then yes, i would sell
@Chimpey btw, anyone wanna invest? hehe. i find it pretty intersting: /Chimpey/success-of-spacex-starship-flight-1