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All about DEP

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Ovolon View Drop Down
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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 8:15pm
Originally posted by MegaMuppet MegaMuppet wrote:


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.

[...]

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

Thx MegaMuppet for rectify the first notice wich opened wide the door for speculations...
And now my "
constructive feedback":
Next time do "business as usual". If EP try to use "lawyer language" then even phrase it complete too! All or nothing; fragments only create this unnecessary, needless, unfounded agitation.
FIRST a completely FAQ would prevent it...
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Talmaru View Drop Down
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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 11:45pm
The only person agitated here is you.
I agree its unnecessary, needless, and unfounded.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Sluggo Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 12:06am
The reason the 'lawyer language' is being broken out is because some folks appear to be bent on picking a fight and ridiculing anything said.  That happens, which is why we have lawyers and their language, to protect business' from ill intenters.

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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Ovolon View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Ovolon Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 4:30am
For what you have them if they didn't do their job?!
'EP reserves the right to buy back DEPs from individual users'
= EP buyes DEP when EP want from who EP want at base prize even the user has buyed this DEP for much more (expropriation)

But if it's like MegaMuppet wrote on voluntary base it should be named with:
'EP reserves the right to buy back DEPs from individual users on voluntary base'

All
"first semester law student" (and I would say: even all persons who use their head not only for wearing a hat) know the difference the 3 red highlighted words makes!

Scenario 1:
it's planned to
expropriate special users (the official statement say it clear you reserves the right to expropriate persons)
Scenario 2:
the
author only try to write it "good sounding" without any
juridical knowledge


I only do what in past some people insinuate me not to do:
I read what is written.
And written was in this
meaning: EP expropriate special users.
So I asked (after an other person also
point out this problem) once and don't get any answer although there are 6 replies from 2 different EP related persons after my question.
I asked twice (without asking if the REP's
hush up my question intentionally I have had asked if I would be as someone always insinuate me I would be) and finally I got an answer (again: thx MegaMuppet),
thanked for it,
excused my legitimate doubt (yes: LEGITIMATE cause the wording sayed clearly: expropriation)
and give demanded
feedback that a correctly notice would prevent arise such problems from the start (and it's not the first time CORRECTLY notices straight at the beginning would have avoided such "useless stress").

It was only 1
justified question (2 times cause the first time I was ignored) and 1 feedback I'm now beaten for, again.
But I know: I'm a whiner/troll/what ever words you always use with pleasure...
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Kingy Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 9:34am


Sound's like the sniping has come to an end! So, back on topic, why is EP releasing these DEP's but not letting players deposit into the website, it seems counterproductive if the purpose is to raise capitol for expansion. It seems to me the way it's going at the minute, with every DEP bought the only thing that really changes is that your total potential website payout diminishes, there's no "real" cash injection just less to pay on the balance sheet.

Wouldn't it make sense to allow for a two way flow of PED into and out of the game?

By two way flow I don't mean depositing direct to EP as I realize the charges involved for purchasing PED blah blah blah I meant being able to "Request Deposit" ingame that would be credited to your EP account?
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Wauspaus Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 9:49am
Always sad to see someone pushing others to the limit that they are truely fed up with them.

In anycase, the request a deposit thing might sound good, but that would actually contradict what the setup of the DEP's would be. That you can buy them via means you worked for with EP. If you can deposit that means you can just actually put real money into it (aka deposit using credit card ingame, then deposit it from game onto EP) and buy a rediculous amount of DEP's, which technically you dont lose anything on.

As for all the legal talk here. I think people should lighten up a bit, especially legal talk is really borring to go through and yes you will always find something in a certain part of the agreement you dont really agree with. Its not worth the debate or like with Ovolon, worth pissing people off with, because it will not change regardless wether you agree with it or not.

EDIT: Small spelling error which destroyed my point a bit XD
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MegaMuppet View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MegaMuppet Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 10:21am
Took the freedom to mod a few posts that were going personal.

Back on topic: In can see that there are a few more valid queries. Will collect a few more & then post another Q&A. Probably early 8 Jan.

Until then please keep sending your questions

Cheers
M
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Sluggo Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 10:33am
Just a quickie.  Bringing money into the DEP thing opens up a big can of worms.  Right now, using the dep you earned, it's not really money, ie you did not put 'real' money into the site, just a little time.  Yes I know semantics but once you allow folks to bring essentialy real money into the place to 'invest'.  Now you are in a whole other big mess in several countries, with investment laws, trading, stuff like that.

It may be a bit inconvenient but it's the safest way and the most legal I guess you could say, to do it.

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Post Options Post Options   Thanks (1) Thanks(1)   Quote Onat42 Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 10:35am
To be honest, Im really glad that theres a posbility to let some of my PEDs I earned work for me.

I really dont care whats the purpose of the DEPs, I just guess they want to make this page even more attractive.

If u compare .... u need atm ~1450 PEDs ingame to let it work for u 
here u can start with ~11PEDs (my guess) 


Since Ill "start" playing the game only with a "regular" income generated by the game, this is a really good oportunity to get a basic income .... . 
Ok, Ill start with just 4 and will only invest in more till I have 25 but ...

yea, drawing a conclution I want to point out that I like the Idea really - just sad that the CF tasks suck since I joined a few weeks ago  ^^ 
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BBGlobal View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote BBGlobal Quote  Post ReplyReply Direct Link To This Post Posted: 06 Jan 2014 at 4:37pm
This is it, when this site was advertised on Caly I was like "hmmm, will be marketing surveys downloads etc".

After getting here and seeing CrowdFlower - for the man that never stops working. I was like, well this keeps my bank account in good standing relative to gaming in EU and offsets markup, I'm thinking of using "profits" from CrowdFlower to purchase an UL w/e        nanochip TEN seems to be flavour atm.

Not really caring how long it takes either, as a $150 CLD nets what? 4PED per week... you can practically get that just watching the site videos daily definitely in 5mins per day. Pretty astounding.

40 DEPs would net 24PED per 30 days? beating a CLD for 400ped of "extra curricular work"


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Post Options Post Options   Thanks (1) Thanks(1)   Quote MayBe Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2014 at 1:15am
Thank you MegaMuppet for answering some questions. It provided some welcome clarity on the subject. Thumbs Up

Two small questions: 
- "sell back DEPs to EP anytime at the base rates" is this comparable to a TT value? 
Meaning, for example, in case of (knock on wood) the termination of EP; would investors be refunded at the base rate? Or is the base rate not guaranteed (in all circumstances)?
 
- "After the pre-booking, more batches will be issued depending on the demand."
Since a booking will not be sold in the (exact) same way as the pre-booking (at least I presume so?), will those DEPs be offered starting at base price too, or will there be a higher/altered starting price?

E.g. for the persons who were not able to bid on the pre-booking, because they didn't have enough Peds to do so (caused by withdrawal just before DEPs pre-booking started, and unavailability of CF tasks to make enough Peds on time) it could be disappointing to not get a shot at DEPs at base rate.
Even though the market will eventually result in raised prices anyway, it still would be nice if at least the equal (starting) opportunity could be available to all. (The last sentence is ofc just a personal opinion.)

                            ____________________ .•°°•. ____________________ 


And I also wanted to remark that I appreciate the automatic ROI calculation on the pre-book page. 
It makes it easier to compare percentages to the other existing Ped investment. A convenient feature. Smile

A quick comparison to give an impression:


Weekly
Monthly

Annual

ped ROI
ped ROI
ped ROI
Base rate







10 ped (DEP) 0,14 ped 1,4%
0,60 ped 6%
7,2 ped 72%
1000 ped (CLD) 4,6 ped 0,46%
18,60 ped 1,86%
223,32 ped 22,33%









Current rate







15 ped (DEP)
1%

4%

48%
1450 ped (CLD)
0,32%

1,28%

15,4%


(Please don't hold me to the numbers: they are taken from PCF, and since I'm clearly not a math star, miscalculations are within the realm of possibility. Feel free to correct me where applicable.)

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BBGlobal View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote BBGlobal Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2014 at 2:46am
It's illustrative! 

From a legal perspective, if EntropiaPartners closed then no one would get paid out imo, due to the simple nature of this website being set up primarily to fund people via game economies. Otherwise it would pay out via Paypal.

Because it clears payouts via seperate servers if the owner had a reason to up and leave, all acquired PED would have been spent.

If it doesn't get spent, there is no reason to close etc. Being invested in Second Life is the only reason to believe EP will be around for the long term, if it was a pop and flop work for me and I drink coffee extravaganza. Why not just re-brand every 3 months.

Also, I'm working on the premise that EP gets 20% for every PED activity carried out by a user, or $6k from entropia participants. That's a nice pasive income. Likely paying the local taxes on property too. Referrals pay an additional 20% to the referrer, which doesn't come from their click value.



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Tia View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Tia Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2014 at 4:53am
Originally posted by BBGlobal BBGlobal wrote:

It's illustrative! 

From a legal perspective, if EntropiaPartners closed then no one would get paid out imo, due to the simple nature of this website being set up primarily to fund people via game economies. Otherwise it would pay out via Paypal.

Because it clears payouts via seperate servers if the owner had a reason to up and leave, all acquired PED would have been spent.

If it doesn't get spent, there is no reason to close etc. Being invested in Second Life is the only reason to believe EP will be around for the long term, if it was a pop and flop work for me and I drink coffee extravaganza. Why not just re-brand every 3 months.

Also, I'm working on the premise that EP gets 20% for every PED activity carried out by a user, or $6k from entropia participants. That's a nice pasive income. Likely paying the local taxes on property too. Referrals pay an additional 20% to the referrer, which doesn't come from their click value.
From a legal perspective, even MA can go bankrupt and investors can do nothing about that. Big difference between investing in EP and in EU/SL is that you invest your time and work in EP, while you invest your real cash in EU/SL. Paying via Paypal is always an option with a legal go through from Govt agencies. We have no plans to explore that as of now. We are providing virtual currency for a your gameplay.

EP has already invested a lot in our infrastructure. Investment in SL (~$4600 a year) will be a little more to it.

EP pays on average $6k in EU. Don't forget we also pay in SL/EO. And I wish if we could get 20% for every PED activity.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MegaMuppet Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2014 at 5:03am
Hi All,

this Q&A is a bit shorter. Hope I didn't forget anything.



Q: Why does EP not accept cash deposit in order for users to invest in DEP

A: While there are technical & other constraints the main reason behind this is to encourage users to make more use of EP features.

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

2 queries I received in game

Q: Will DEP earnings generate referral commission?

A: No they will not.

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


Q: Will EP add more offer features as part of their expansion/investment efforts

A: While we are constantly looking for new partners and new ideas the reality is that there are only very few reliable & worthwhile ones.

We don't want to add offerwalls that only pay their users half the time & possibly add unwanted malware to their computers. This makes our choices extremely limited.

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

Feel free to contact us about any suggestions regarding this.

Cheers
M

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Post Options Post Options   Thanks (0) Thanks(0)   Quote BBGlobal Quote  Post ReplyReply Direct Link To This Post Posted: 08 Jan 2014 at 6:33am
Originally posted by TiaWatkins TiaWatkins wrote:

From a legal perspective, even MA can go bankrupt and investors can do nothing about that. Big difference between investing in EP and in EU/SL is that you invest your time and work in EP, while you invest your real cash in EU/SL. Paying via Paypal is always an option with a legal go through from Govt agencies. We have no plans to explore that as of now. We are providing virtual currency for a your gameplay.

EP has already invested a lot in our infrastructure. Investment in SL (~$4600 a year) will be a little more to it.

EP pays on average $6k in EU. Don't forget we also pay in SL/EO. And I wish if we could get 20% for every PED activity.



Exactly, MA going bankrupt would be unforseen, due to the "market confidence" aspect, they'd literally have to declare enough is enough and pay out everyone's PED card, I was in Crown Court back end of last year for a Fraud case where the defendant operated a business like Wonga from 1980'sm but when a big time investor in his company passed on and he didn't have the funds to settle with the estate he was taken to court as a fraud (his second time, and he'd moved the company through 3 countries and put himself as Shadow Director prior to this court case).

And that is the Beauty of EP, the website didn't even take my detals when registering, just sign up and win.

I wouldn't go through Paypal, if I had the ingenuity to set up a website like this, whole lot of legwork for not much extra.


If only you could get 20% per activity, but hey on the bright side business will be trending upwards.

As someone once explained to MA: "If you fix this, then your 10% will be a bigger 10% than it is now and there would be more balanced prizes and longer term players." - EP doesn't have this problem unless cybored
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