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All about DEP

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Tia View Drop Down
Big Boss
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tia Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 5:18pm
Originally posted by Sluggo Sluggo wrote:

Looks like the server upgrade did the trick.  The site is almost immediate now, instead of waiting 30 seconds for a page to answer and render.   Good job there Tia.

sluggo
Thanks to all of you for the patience. The server was down for mere 22 minutes. We will be adding more in near future and your support is most appreciated.

Hardware updates give me tension. I will ask for your leave now. Saturday is waiting....

Good luck Smile
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Prosac View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Prosac Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 6:36pm
Originally posted by TiaWatkins TiaWatkins wrote:

We are expecting 5000-6000 new users in next 30-50 days. :)


Lol, i read 30-50 years and thought wtf?

100 new users per day, i think ep will be really growing big.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tia Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 7:01pm
Originally posted by Prosac Prosac wrote:

Originally posted by TiaWatkins TiaWatkins wrote:

We are expecting 5000-6000 new users in next 30-50 days. :)


Lol, i read 30-50 years and thought wtf?

100 new users per day, i think ep will be really growing big.
Few weeks exercise in EU gave us more than 3000 users in 4 weeks. Now we stand at 5900 EU users. In total EP has 23700+ registered users. Now we are eyeing this virtual space which has way more users than EU; and based on 12 months experience we are sure to get attention of at least 5000.
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Post Options Post Options   Thanks (2) Thanks(2)   Quote babaroga1x Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 10:01pm
Hi to all!

Very nice idea this DEP... i am sure lot of people will try to get some of them, including me...

But before purchasing some of Deps, i have some questions:

1.) in case of legal dispute, all problems will be solved accordingly to article 12 of User agreement?
(independet Arbritator identified by EntropiaPartners, location Mumbai, English language)

2.) If user is not satisfied by arbitration, he can start a lawsuit in Mumbai, India?

3.) Third question, based on previous two... Are owners of EP ready to indentify themself? Who are they, where they life etc. Because, basically they are asking for a loan.

4.) Have you solved your techical problems? When will be contributor awards payed out? Are you able to pay out your users now, their earnings, or you are waiting for a cash from the loan?

5.) What do you need this cash for? More details please, we just got info about some future posts with info, on this forum...

I am sorry i have to ask this hard questions, but i am sure if you answer them honestly and with lot of details, users will trust you even more... and gossips are worst thing in universe...

Baba Star
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sluggo Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 11:10pm
Barbaroga Ill let Tia answer these questions but I will answer one of them right now because I feel it is critically important for folks to know.

EP is totally solvent.  If we had to right now, we could cash out every member completely with no problems.   The money is there. This DEP venture is not to cover any outstanding payments.  Those are already covered.

sluggo.
As I have grown older, I have learned that pleasing everyone is an impossible task. Making them mad now, is a piece of cake :)
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Kingy Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 11:47pm
I've read through the posts and I don't see the great deal everybody's talking about. Here are some figures...

@ 0.02 PED a day...

7 Days = 0.14 PED
31 Days = 0.62 PED
365 Days = 7.3 PED

Even money day assuming a 10 PED starting price is 500 days which is approx 1 year 4 months and 3 weeks.

Even money day assuming a 15 PED starting price is 780 days which is approx 2 years and 1 month and 3 weeks.

Thoughts?
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Post Options Post Options   Thanks (1) Thanks(1)   Quote babaroga1x Quote  Post ReplyReply Direct Link To This Post Posted: 04 Jan 2014 at 11:58pm
Originally posted by Kingy Kingy wrote:

I've read through the posts and I don't see the great deal everybody's talking about. Here are some figures...

@ 0.02 PED a day...

7 Days = 0.14 PED
31 Days = 0.62 PED
365 Days = 7.3 PED

Even money day assuming a 10 PED starting price is 500 days which is approx 1 year 4 months and 3 weeks.

Even money day assuming a 15 PED starting price is 780 days which is approx 2 years and 1 month and 3 weeks.

Thoughts?


if you believe them, it is a great possibility, because in a bank, your interests are 2 - 3 %, yearly...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Norian Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 1:35am
Originally posted by Sluggo Sluggo wrote:

Barbaroga Ill let Tia answer these questions but I will answer one of them right now because I feel it is critically important for folks to know.

EP is totally solvent.  If we had to right now, we could cash out every member completely with no problems.   The money is there. This DEP venture is not to cover any outstanding payments.  Those are already covered.

sluggo.

I disagree... I haven't been able to cash out for 2 weeks.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sluggo Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 3:54am
Norian I have posted several times now in the forums that anyone needing a cashout out, especially the larger amounts to let me know and  can accomodate them.

sluggo
As I have grown older, I have learned that pleasing everyone is an impossible task. Making them mad now, is a piece of cake :)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Kombinacka Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 4:07am
Yea, I don't have much problem with cash outs. Sometimes I wait for a half day or day, but deffinetly not two weeks. Lately I have more problem with _what_ to cash out :)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ovolon Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 5:55am
Originally posted by Sluggo Sluggo wrote:

Norian I have posted several times now in the forums that anyone needing a cashout out, especially the larger amounts to let me know and  can accomodate them.

Could it be some people don't want you get the 1% transaction commission from EP?
Just think about why!

But now back to topic...
There are some unanswert question regarding DEP's;
like this:
Originally posted by Ovolon Ovolon wrote:

Originally posted by MayBe MayBe wrote:

"You will be able to sell back DEPs to EP anytime at the base rates,"
"EntropiaPartners reserves the right to buy back DEPs from individual users."
"The seller will be charged 0.5% of the total transaction value upon sale."

The base price is 10 ped, but in the pre-booking you'll likely need to bid more to obtain some, and afterwards P2P trading will (probably) see prizes rise too. So if after a while the prizes have gone up, and EP were to decide to do a (forced) buyback (which, according to the disclaimer is possible): are those DEPs bought back for the base price of 10 ped, or for the last price the present owner paid for them?
Because the rules state that a (voluntary) sale back to EP, initiated by a DEP holder, would be redeemed at the base rate. Having the possibility of an involuntary buy back at base rate hanging over your head, seems not a very attractive prospective.
(Also, a small detail: since there is a fixed transaction fee of 0,5%, does this mean that if such a forced buyback should occur, you still would have to pay that fee?)


This is a point I thought about too.
What if the prizes will rise (example 25 PED) and EP decide to expropriate a special person or may all?
You have payed 25 PED, EP take your new DEP and pay you 9.95 PED (10 PED-0.5%) for this DEP
= 15 PED loss for nothing and the next DEP (in real yours) is ready for offer someone will pay may 25 PED and later get
expropriate to start the carousel again...

'EntropiaPartners reserves the right to buy back DEPs from individual users' means what?
If "someones nose" you don't like you force him/her to sell back their DEP's to EP for 10 PED (less the 0.5% fee the seller have always to pay) even he/she has buyed/buyed at auction the DEP a few days ago for much more?!
It sounds like communism Confused

Quote
KOMMUNISMUS
Du hast 2 Kühe. Die Regierung nimmt dir beide weg und lässt dir etwas saure Milch.

FASCHISMUS
Du hast 2 Kühe. Die Regierung nimmt dir beide weg, stellt dich als Kuhhirten an und verkauft dir die Milch.

SOZIALISMUS
Du hast 2 Kühe. Die Regierung nimmt dir eine weg und gibt sie deinem Nachbarn.

FEUDALISMUS
Du hast 2 Kühe. Dein Lehensherr nimmt dir etwas Milch weg.

DEMOKRATIE
Du hast 2 Kühe. Eine Abstimmung wird durchgeführt, bei der die Kühe mit 2:1 gewinnen.

LIBERALISMUS
Hau ab! Was ich mit meinen Kühen mache, geht dich nichts an!

KAPITALISMUS
Du hast 2 Kühe. Eine verkaufst du und kaufst dir dafür einen Bullen für die Zucht.

BÜROKRATIE
Du hast 2 Kühe. Um sie zu registrieren, füllst du 23 Formulare in 3facher Ausführung aus und hast deshalb keine Zeit, um sie zu melken.




edit:
But don't forget to ban the forum access;
otherwise the expropriated persons could complain here...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Talmaru Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 8:23am
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MegaMuppet Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 8:27am
Please stay on topic folks. This thread is about DEP and not some personal issues

Will post a Q&A later today to address some of the points raised here

Cheers
Mega
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Post Options Post Options   Thanks (1) Thanks(1)   Quote MegaMuppet Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 8:58am
Hello fellow EPians,

Thanks to everybody who showed their interest in DEPs. There have been some valid & detailed questions.

I took the freedom to paraphrase those below & hopefully answered to your satisfaction.

One thing upfront: While we at EP are trying to be as transparent & open to user input as possible, it is indeed not always possible to go all the way!


Q: Why is EP only buying DEPs back at base price where I paid more for them and/or the current price potentially trades at a higher price?

A: Short answer is: Please consider P2P trade & EP buyback in conjunction. The long answer is multifold:
1.) EP is offering the buyback option to cover a scenario where P2P trade volumes are low & trading at base price. DEP holders should always have a fall back option to cash out.
2.) If the current price at P2P trade is higher than base then no one would be inclined to return DEPs back to EP at base price.
3.) The fixed base price also covers EP against potential losses resulting from users trying to manipulate the market (On a side note, P2P trade prices will have their minimum price capped at base price)

**************************************************

Q: What if EP forces a buy-back at base price and I have paid a lot more than that

A: EP will not do enforced buy-backs!
 
When stating that 'EP reserves the right to buy back DEPs from individual users' then we want to cover potential scenarios where EP may offer an ad-hoc (one off) buy back scheme at some point in the future & at a price to be communicated at that time. If such scenario arises then it will entirely voluntary to opt in or not. No plans have been made or discussed regarding this.


**************************************************

Q: What to do in case of user vs EP disputes, legal or otherwise?

A: This is not just a question since DEPs are on the cards. Every user can get in touch with us when problems related to EP are encountered. We feel that we have a proven track record of trying to do right by our users. There are situations where we have to refer you or the issue you raised to our partners. (i.e. issues with CF tasks)

If all efforts are to no avail then users have certain options according to the laws in their country which we at EP cannot possibly lay out for everyone.


**************************************************

Q: What are the expansion plans that EntropiaPartners has indicated as part of this proposal?

A: We have brought forward a first minor step already by upgrading our servers to improve website performance.

Furthermore we are planning an investment in SecondLife to increase brand awareness & thus user numbers & revenues.

We have a number of further additions to our platform that we will not yet communicate merely for competitive reasons. These will take until Q2/Q3 2014 to realise and will be detailed in due course.

**************************************************

Q: What are the short & long term plans regarding the total number of DEPs issued?

A: An important question especially for users interested in the P2P trade aspect of DEPs. I will therefore make a number of points regarding this. Please accept those for the time being even if some will not be definitive.

* As stated in the forum the short term vision is to issue a total of 10000 DEPs over the course of Q1/2014
* Any potential future issues of DEPs (in addition to the planned 10k) are neither planned yet nor envisaged. Which is not to say it will never happen.
* Any potential future issues (in addition to the planned 10k) would include some form of preferential treatment of current DEP holders. This could include offerings to current holders before offerings to non-holders, discounted prices etc.
* Any potential future issues (in addition to the planned 10k) would be given a longer notice period than this initial offering. This would be to allow DEP holders make informed decisions about their respective course of action.

**************************************************

Q: Why the 28d waiting period when returning DEPs to EP

A: This is a measure to allow EP to plan payment liabilities with sufficient lead time. While we do not foresee a sudden high volume sell off in DEPs it is prudent to cater for such scenario.


**************************************************

Q: Why are DEPs that have been set for sale ineligible for interest


A: We understand that this measure may be unpopular but we would like to stress at this point that EP wants to steer users towards the investment aspect of DEPs rather than the P2P trading aspect. Consequently we introduced this rule as a trade off to be considered by DEP holders.

**************************************************

Now let me finish this Q&A by saying that we at EntropiaPartners have not done something like this before. So rules might not always be completely clear at first and some users even see the chance for abusing them.

So you are encouraged to post queries and give constructive feedback.

EP on the other hand can & if necessary will change/add rules around future DEP issues and/or the trading of existing ones.

We are aware that some users will always cry foul or have trust issues with what EP is implementing. It's a fact, both, you as the user & we as EP have to live with.

We will not manage to please everyone all the time. We can only stick to what we have been doing & saying all along. Which is to do right by our user base.

I will do another round of Q&A should the need arise. If you have more queries regarding the answers given here then please use 'quotes' to make my job easier.

Thanx & regards
Mega
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ShortBus View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ShortBus Quote  Post ReplyReply Direct Link To This Post Posted: 05 Jan 2014 at 4:19pm
The DEP trouble me. the return is very high, with make me think that EP wants player to bid up the price.  but as they have the right to call the DEP at anytime for 10 PED it leave anyone open to suffer a large loss. 

I don't believe that this EP intent, and here are some idea to protect player investments:

1) end date, this is the day the EP stop paying interest and refund the 10 PED. player can reinvest at that time.

2) set buy back price at the amount the players paid for the DEP. keeps math easy to find rate of return.

3) don't let the price above set level, may want to charge 5X as much for a DEP. no market to fight with and safe returns.

each of these change will have problems for EP. but as thing sit i can see ever paying more then 10 PED for one. 
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