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Frihost Bank





sonam
After reading this http://www.frihost.com/users/Bondings/blog/vp-121229.html and some other posts I got idea for creating official Frihost Bank where we can exchange coins in frih$ and vice versa. Trading rate will change offers in Marketplace. More offers with frih$ will produce stronger frih$. More offers with coins will produce stronger coins.

Sonam
deanhills
Excellent idea Sonam. Would make it kind'a fun as well.

I think the challenge would probably be that all of a sudden people would qualify for multiple free domains.

But yes, would be great idea if we could do something with the Frih$. Would simplify things as well.
k_s_baskar
Okey. I wish to exchange my frih$ with coins any offers?
Smile
watersoul
Good idea, do you mean some kind of automated system that changes the rate as deals are made - like a 'real' stock exchange?

How difficult that would be to create is the question I guess though.
Ghost Rider103
I really like the idea, but I remember Bondings saying there will not be a frih$ to coin exchange system a while back.

though this idea is a bit different than a simple frih to coin system, its still exchanging frih$ to coins.

I think the big worry is some members have 10k+ frih$, which would easily translate into them being able to buy a few domains at once. If a bunch of members were doing that, well it would be quite costly.

I do love the idea though, it's just a matter if Bondings would agree with the idea.

But there are much more exciting things coming up that I think should stay at the top of his list. Smile
deanhills
Ghost Rider103 wrote:
But there are much more exciting things coming up that I think should stay at the top of his list. Smile
I don't know what is being lined up, sounds exciting and am keeping my eyes peeled.

The Bank idea for the Marketing Forum is however an excellent idea. For example if someone wants a logo done, then the price could be set in coins, but Frihosters should be able to use their Frih$ that would automatically be converted into coins for the purpose of that transaction only. I don't know how one would be able to do the coding for a transaction like that. In other words, the straight coins for Frih$ conversion won't be allowed, but when we actually pay for a service, it should always be in coins, and the Bank would then allow us to convert the exact amount of Frih$ into coins for that transaction. Ditto services like bidding for the Directory. Perhaps one can bid in coins and pay in Frih$. That way the Frih$ hopefully will eventually be depleted, provided of course there are plenty of ways to spend the currencies on.
adri
Would creating a topic in the Marketplace where people can exchange frih$ for coins and vica versa not be enough? For example: Person 1 wants to exchange 1000frih$ for some coins, than other people who have coins can say "I give you 100 coins for it" and another one can say "I give you 120 coins for it" etc. And so you get a market for exchanges and an exchange rate for coins - frih$ and frih$ - coins.

Making some sort of a automatic bank were the frih$ or coins you exchange are 'completely deleted from the memberlist' isn't really a good system. It is far better to keep the frih$ and coins between the members than to give them to a bank system. Smile


Just my two cents



adri
watersoul
adri wrote:
It is far better to keep the frih$ and coins between the members than to give them to a bank system. Smile


Yep, thinking about it, bankers have caused enough problems in our 'real' world in the last couple of years, lets make Frihost different...power to the people and all that! Smile
deanhills
adri wrote:
Making some sort of a automatic bank were the frih$ or coins you exchange are 'completely deleted from the memberlist' isn't really a good system. It is far better to keep the frih$ and coins between the members than to give them to a bank system. Smile

Just my two cents
adri
Adri, the problem is when all of the Frih$ are exchanged for coins, then there may be a greater demand for domains than Bondings had planned for when he had worked out the coin system. So my proposal is more along the lines of, charge for services (other than purchase of domains) in coins, and allow Frih$ to be exchanged for coins for services other than purchase of domains. So basically the only currency will be coins, but people can purchase all services, other than domains with Frih$.

Of course it would then be necessary to have plenty services available for trading purposes. So maybe the marketing forum will have to be made much more active as well.
Ghost Rider103
I had originally thought of opening up a Frih to Coin exchange thread in the Marketplace about a month ago.

I did ask for Bondings permission to do so, and he did not have a problem with it. But since there is no current exchange rate, I'm going to guess that any member that starts a thread up like that in the Marketplace, that the exchange rate is going to be quite high. So it shouldn't cause any issues in Bondings not being able to keep up with the demand for domains.

The only thing that has stopped me from opening the topic, is I do not have very many coins, compared to some of the users on here. Someday when I have a load of coins, I probably will open the thread.

But again, I want to remind people that frih$ will be used for other things. I've heard anything you can use coins for, will also be available by using frih$.
truespeed
Maybe Dean should open his own bank.
deanhills
truespeed wrote:
Maybe Dean should open his own bank.
Laughing Laughing Laughing

Ghost Rider103 wrote:
But again, I want to remind people that frih$ will be used for other things. I've heard anything you can use coins for, will also be available by using frih$.
I guess that is the simplest solution of them all. Added to this, make Frih$ the main trading currency, and for those who do not have Frih$, let them search around for suitable donors who are prepared to do a trade for coins. At the same time we probably would need to increase marketing opportunities, as the Marketing Forum has been almost inactive for many months.
sonam
Quote:
The only thing that has stopped me from opening the topic, is I do not have very many coins, compared to some of the users on here. Someday when I have a load of coins, I probably will open the thread.


You (or someone else) can load coins with bank fee for example 6 coins for one year payed in advance. Then members can put some frih$ or coins in bank and wait for good exchange rate. This will be interesting and funny. New member can get initial fee in coins by posting, by donation or by participating in contents and marketplace.

Sonam
sonam
Quote:
You (or someone else) can load coins with bank fee for example 6 coins for one year payed in advance.


Or maybe Bondings can create one BANK account, sticky thread in Marketplace and allow for two-three mods or bank people to deal with exchanging when is requested. Maybe in future automated fee and savings. Rolling Eyes

Sonam
ocalhoun
sonam wrote:
Quote:
You (or someone else) can load coins with bank fee for example 6 coins for one year payed in advance.


Or maybe Bondings can create one BANK account, sticky thread in Marketplace and allow for two-three mods or bank people to deal with exchanging when is requested. Maybe in future automated fee and savings. Rolling Eyes

Sonam


Well, that would require anybody playing as the 'bank' to log out, and log back in as the bank, then log out, and log back in as themselves... Pretty inconvenient.


If an automated system was made, this is how I (not necessarily bondings) would do it:
Don't give the bank an actual user account, but do give it a limited amount of each currency.
Have the exchange rate be determined by the ratio of one currency to the other that the bank possesses: if the bank is low on coins, the price of coins will go up; if the bank is low on frih$, the price of frih$ will go up.
That way, you can have the bank be controlled by market pressure, yet still automatic and convenient.
You could set the initial exchange rate by adjusting the initial ratio of frih$ to coins.
You could change how quickly the bank responds to market demands by changing the overall amount of frih$ and coins it possesses. (Low amount means quick changes, high amount means slow changes.)

...There probably will never be an official or automatic way to exchange frih$ and coins though... at least not in large amounts. People (like me) who have ridiculously large amounts of frih$ could cause inflation... causing newer members to have no hope of ever affording anything.
sonam
Quote:
Well, that would require anybody playing as the 'bank' to log out, and log back in as the bank, then log out, and log back in as themselves... Pretty inconvenient.

Did mods need to log in log out when edit some post? If I good understand forum then mods can easy with edit button start to change any post. With the same system few mods can run Bank account. Log in, log out is really bad solution.

Sonam
ocalhoun
sonam wrote:
Quote:
Well, that would require anybody playing as the 'bank' to log out, and log back in as the bank, then log out, and log back in as themselves... Pretty inconvenient.

Did mods need to log in log out when edit some post? If I good understand forum then mods can easy with edit button start to change any post. With the same system few mods can run Bank account. Log in, log out is really bad solution.

Sonam

Ah, perhaps I misunderstood your usage of the word 'account'.
I was thinking you meant 'user account', when perhaps you meant something other than that.
sonam
ocalhoun wrote:
sonam wrote:
Quote:
Well, that would require anybody playing as the 'bank' to log out, and log back in as the bank, then log out, and log back in as themselves... Pretty inconvenient.

Did mods need to log in log out when edit some post? If I good understand forum then mods can easy with edit button start to change any post. With the same system few mods can run Bank account. Log in, log out is really bad solution.

Sonam

Ah, perhaps I misunderstood your usage of the word 'account'.
I was thinking you meant 'user account', when perhaps you meant something other than that.


It is OK. Ghost Rider103 just start something similar. Smile

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