View Full Version : Earn Interest Income at the Bank! Also, some big rate changes.

Mickey

09-16-2005, 04:52 AM

You can now use the Bank (http://www.googleearthhacks.com/war/bank.php) to hold your Geos and earn interest on them!

As part of this, you can deposit Geos into anyone's bank account. In particular, you can send money to your allies to help them out! Obviously, you can only withdraw money from your own account.

The interest rate is currently 3.75% daily, compounded approximately every five minutes. This rate will likely go down, as it is currently controlled manually by me.

Also, the rates on the other resources have changed rather dramatically.

Jewels now trade for 1.5 Geos each instead of 2.25. However, the rates for all other resources have doubled, making them a much more viable source of income. All of these rates will likely be finessed a bit more over the next couple days.

For testing purposes, feel free to try to cheat the bank, but please use small numbers. If you find a security hole and steal a bunch, I will crush your existence. However, if you find a security hole and only do some small transactions to verify it, you will be rewarded nicely. :)

Beezer

09-16-2005, 04:54 AM

Awesome!! An easy way to make money for those who hate jewel hunting!!!

Mickey

09-16-2005, 04:57 AM

As an added note, I might be raising the troop upkeep costs very soon. Compared to everything else, they seem quite low. Agree? Or not?

michael fontenot

09-16-2005, 05:01 AM

it wouldn't hurt to raise army upkeep slightly to account for the bank interest and new exchange rates.

patrickf

09-16-2005, 07:53 AM

Excellent. Loving the new add-ons, keep it up!! Dont suppose there's anyway we can stage a bank robbery is there?!!! Being from Northern Ireland I reckon we've got a great track record this year! ;) 27million GEOs perhaps!!!.....kidding.....maybe!

War_Peace

09-16-2005, 10:44 AM

Hurray! Economy is growing...

I keep meaning to gripe about rounding issues, but am always distratcted by one shiny object or another I catch the gleam of out of the corner of my eye. I'm mentioning it this time, though. Ooh... pencils!

No! Focus...

When I went to deposit Geos in the bank, I entered exactly what I said I had (we'll say 50), and it reported that I couldn't deposit more than I had. This should be handled 1 of 4 ways (IMHO):

1) If the number entered > available, use available (enter 999 and all 49.995 will be deposited)

2) Don't round -- store the numbers exactly as they are presented (if you only display 2 decimals, only store 2 decimals after calculation)

3) Don't round -- present the numbers exactly as they are stored (if you store 15 significant digits, display them)

4) Don't round -- truncate (if I have 49.995 Geos, show me that I have 49.99, because I sure as heck don't have 50). This is my preferred choice.

This isn't just with the bank, obviously. It's been here the whole time resources have been available.

A really quick fix would be to have choices of "Deposit All", "Withdraw All", "Convert All", etc. so you don't have to worry about the specific numbers in the first place.

War_Peace

09-16-2005, 03:50 PM

Oh my god! Mickey, look what you have done:

i can suggest the following deal:

make a transfer of 1000 geos to my world bank account. After 5 days i will pay the 1000 geos back + interest of 250 geos.

your guarantee: none, but I'm swiss = extremely reliable

your profit (compared with interests of the world bank): 250 - 187.50 = +62.50 Geos

interested?

:rofl: haahhahahahaha .... :lol:

Those Swiss guys :) I wish there was a "smile" that shows "too much laughing turning into crying" :lol:

Mickey

09-16-2005, 04:03 PM

4) Don't round -- truncate (if I have 49.995 Geos, show me that I have 49.99, because I sure as heck don't have 50). This is my preferred choice.

Done.

A really quick fix would be to have choices of "Deposit All", "Withdraw All", "Convert All", etc. so you don't have to worry about the specific numbers in the first place.

I may end up doing that as well...

Mickey

09-16-2005, 04:15 PM

Troop upkeep costs raised, although they're still pretty low...

Beezer

09-16-2005, 04:44 PM

Those Swiss guys :) I wish there was a "smile" that shows "too much laughing turning into crying" :lol:

That is hilarious.

And we certainly need the "laughing so hard I wet my pants" smiley.

Done.

You rock.

I may end up doing that as well...

You'd rock even more.

Thanks again!

Thepenguin

09-17-2005, 02:55 AM

Quick question, do the geos earned as intrest also go into the bank, or do they get put into your wallet of free floating cash?

im just asking, if i leave money in the bank, then forget about it, will the rate of income from the bank increase?

Mickey

09-17-2005, 03:20 AM

Quick question, do the geos earned as intrest also go into the bank, or do they get put into your wallet of free floating cash?

Yes, they stay in the bank

im just asking, if i leave money in the bank, then forget about it, will the rate of income from the bank increase?

Yep

Thepenguin

09-17-2005, 05:39 AM

for the cost of upkeep, will it get taken away from the bank if the balence in the "wallet" is too low? or does the upkeep now come directly out of the bank?

can i inquire how you have the system for upkeep and bank/wallet system relationship

and should i move this to a whole diffrent thread

Mickey

09-17-2005, 12:39 PM

for the cost of upkeep, will it get taken away from the bank if the balence in the "wallet" is too low?

Nope, but that's a good idea.

can i inquire how you have the system for upkeep and bank/wallet system relationship

Nothing comes out of the bank unless you ask it to. All of the automatic transactions (conversions, taxes, upkeep) come out of your "wallet"

michael fontenot

09-18-2005, 06:40 AM

And if all of your geos are in the bank and your wallet is empty will your upkeep draw your wallet into the negative or will the funds be drawn from the bank?

War_Peace

09-18-2005, 10:54 AM

The interest rate is currently 3.75% daily

100 Geos get 3.75

1000 Geos get 37.5

There is no such thing as compound interest right??

Mickey

09-18-2005, 12:56 PM

100 Geos get 3.75

1000 Geos get 37.5

There is no such thing as compound interest right??

Actually, it's compounded every five minutes, which means you actually earn slightly more than the numbers you listed, although I don't know how to compute that all at once.

War_Peace

09-18-2005, 01:11 PM

Actually, it's compounded every five minutes, which means you actually earn slightly more than the numbers you listed, although I don't know how to compute that all at once.

Rate is 3.75% so 100Geos get 3.75 and 1000Geos get 37.5 right?

1000Geos don't get 50 or 10.000Geos don't get 750

This means no compound interest(amount grows - interest rate grows)

Nothing that complicated Mickey...

blitzkrieg

09-18-2005, 10:39 PM

Rate is 3.75% so 100Geos get 3.75 and 1000Geos get 37.5 right?

1000Geos don't get 50 or 10.000Geos don't get 750

This means no compound interest(amount grows - interest rate grows)

Nothing that complicated Mickey...

That's not what compounding interest is. If you have 1000 at 10% (easier figures) and it increases to 1100 after the interest period (1 day). But that won't happen in this game because the interest is calculated every 5 minutes and then gets paid into the account. You earn interest on the interest already paid to you every 5 minutes. I don't know what the figure would be, but it would actually be more that 1100 in your account after one day. If the money stays in the bank (which it does) than the interest is compounded, if withdrawn every 5 minutes, then not compounded.

palau

09-18-2005, 11:50 PM

Here the formula to calculate it at once:

FV = V*(1 + r)^n

FV: future value

V: initial value

r: interest rate (0.0375 in our case)

n: number repetitions (days in our case, as this is a daily rate)

so because it is specified as a daily rate, the final value after one day should increase by just 3.75%, not more. I hope it is already so, otherwise there are 2 options:

a) calculate the needed 5 minute rate so that the daily rate is 3.75%

b) change the text to show the real daily rate:

With the formula in hand either way should be a piece of cake ;)

- palau

js3486

10-11-2005, 11:59 PM

You can now use the Bank (http://www.googleearthhacks.com/war/bank.php) to hold your Geos and earn interest on them!

As part of this, you can deposit Geos into anyone's bank account. In particular, you can send money to your allies to help them out! Obviously, you can only withdraw money from your own account.

The interest rate is currently 3.75% daily, compounded approximately every five minutes. This rate will likely go down, as it is currently controlled manually by me.

Also, the rates on the other resources have changed rather dramatically.

Jewels now trade for 1.5 Geos each instead of 2.25. However, the rates for all other resources have doubled, making them a much more viable source of income. All of these rates will likely be finessed a bit more over the next couple days.

For testing purposes, feel free to try to cheat the bank, but please use small numbers. If you find a security hole and steal a bunch, I will crush your existence. However, if you find a security hole and only do some small transactions to verify it, you will be rewarded nicely. :)

Mickey lets remeber banks reward fat cats with better interest rates. In the real world (like you have'nt heard this before) we can shop around. Don't get stingy on the interest rates.

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