Translate this page

Some beautiful music to read the blog with

Sunday 23 August 2015

Trading in Null Sec

After two years in Eve Online, and after much inspiration from Sugar Kyle's most excellent blog Low Sec Lifestyle and her ventures in creating a low sec trading venture, i have decided to try and set up a trading venture in Null Sec.

My business in High Sec is doing fine, making me 217bn ISK to date.  I hear that Null Sec is the place to be though i really have no idea about what is best . . . . . 

Research into travelling around in null sec

That, of course, meant going into null sec.  For the first time.  I had once ventured into low sec but never null sec.  Never seen a bubble.  Never had local open as a default.  Never felt the need to cloak.

One of the best pieces of research i found was on the forums, written by a player called Gummy Worm, titled Null Security Space Guide to Running Sites.  Seems to cover everything (at least everything i can think of):

Chosen ship and fitting to travel in null sec

I went for a Helios to travel around in null sec.

At gates, when i land, i do the warp and insta-cloak.

Inertial Stabilizers II
Nanofiber Internal Structure II
Nanofiber Internal Structure II

5MN Microwarpdrive II
Scan Acquisition Array I
Scan Pinpointing Array I
Scan Rangefinding Array I
Scan Rangefinding Array I

Covert Ops Cloaking Device II
Expanded Probe Launcher I

Small Gravity Capacitor Upgrade I
Small Gravity Capacitor Upgrade I

. . . . . not even sure why i have the scanning / Probe items to be honest.  If i could think if anything to replace them with that makes my survivability in null sec improve then i would go for it.

. . . . . . .  died a number of times

i believe the expression is podded.

Three times so far, all can be seen on zKillboard.  First one undocking in Scalding Pass, putting on the mwd to get distance and getting blasted by a battle ship.

Second time was in a bubble when coming through a gate.  A bit of bad luck, landed right next to a waiting ship so could not re-cloak in time.

Third time was not cloaking quick enough when warping after a jump - actually, this one i doubt i could survive if i did it again.  I thought i cloaked as quick as i could after starting the warp sequence.

Not annoyed about losing the ship and fittings, it is the implants that is annoying.  80m or so ISK to replace them all.

So far, lost about 360m in ships / fittings / implants.

Chosen Region

Firstly, i decided to go for only NPC stations - last thing i want is to be locked out of my items.

Secondly, i could have gone for a NPC station in a player owned region but instead i went for a NPC region (i don't know if that is a good idea, i will see).

That all said, for now i have gone for Venal.
I travelled all the way up to the ORE region and all the way as far south as Scalding Pass and Catch regions.

It is amazing how empty null sec can be.  Quite often, when i was wondering around, i would be the only person in the system.  Other times, the bubbles on gates were off the dials.

Hauling items to sell

Third party haulers, for sure.  Not a chance i am hauling my own items for now.

Costs me about 250m ISK to contract my items from Jita to my chosen station.  So far i am using New Evolution Express.

One of my characters is learning Jump Drive but has a way to go before fully able to use it for the best.

Chosen items to sell

I am starting with T2 fittings - no idea if this is a good idea, or how it will go.  I have posted 11.4bn of items for sale.  If it does not go to plan i will initially seek to find another region to sell in rather than change what i am selling.

It will cost me about 300m ISK every time i seek to move my items.

In Summary

I honestly have no idea if this will work and i very much suspect that i will be moving my goods from one null sec region to another until i find one that works.

Friday 14 August 2015

Eve Online Podcasts and Video Casts

There are a surprising number of podcasts on Eve Online with subjects varying from Lore, to a daily news round up, to general Eve items (though also surprisingly few on the ISK making side of Eve).

I download most of them via itunes.

Fortunately for us all, there are two websites that keep a list of most of them:


Eveonlinepodcastrsslist is a nice site that lists the podcasts as they happen and allows you to play the podcast from the site.  Useful if you want to see what are the latest podcasts.


Evepodcasts has a list of the active podcasts, as well as a link to the inactive podcasts.  Also, it has a list of the video casts on its main page.

It also as a page of song parodies by the EVE Online community pilots.

I have added both the useful links on the right >>>>>

I also keep a page that lists the dedicated ISK making videocasts on my blog.

Wednesday 5 August 2015

Banking Industry in Eve - just small changes to the Contracting System needed

OK, just glance at the Courier Contract written below and then read on - all will hopefully be explained!

I write the following Courier Contract:

Item i want hauled: <-900m ISK> (yes, negative 900m ISK)
Ship to: <Same station> (yes, not moving it anywhere)
Reward: <50m ISK>
Collateral: <-1 Plex> (yes, negative 1 Plex)
Expiration: <3 days>
Days to Complete: <1 month exactly> (yes, not less than but equal to)

If you accept this then you would receive negative 900m to haul (i.e. give me 900m ISK) whilst the you put negative 1 Plex up as Collateral (i.e. i put 1 Plex up as Collateral) and i put 50m ISK aside as collateral for the fees.

After 1 month exactly you complete the "haul" and return the -900m to me (i.e. i give you 900m) and i award you with 50m fees, and so i get back my 1 Plex Collateral.

If the contact fails then you get the Plex.

The problem with a Bank today in Eve

At its simplest, banks bring together people with surplus money (savers) with people who want to borrow money (borrowers).

The bank acts as a middle man – it borrows from the savers for an annual fee (called the saving rate) and lends to the borrowers for an annual fee (called the lending rate).  That spread (lending rate less saving rate) covers the cost of loans going bad (defaults) and the costs of the bank and so gives the profits.

As security, the bank takes first charge over assets of the borrower (not collateral per se but the right to take over an asset if the loan goes bad).

The security for the savers is a national Central Bank which guarantees a certain level of deposits and requires the Bank to deposit cash with it plus hold liquid cash.

What Eve does not have is that Central Bank.

Actually, that is not quite true.  Eve does have certain trusted third parties that act as the middle man when loans are taken out, for example.

But you get my drift - currently there is nothing to stop a bank just walking off with the deposits savers have placed in it.

One small addition to the Contracting System could change that

However, with a small change to the contracting system we could have a banking industry up and running.

The small change needed would be for Courier Contracts to be allowed to courier to and from the same station, be able to Courier negative ISK, for negative Collateral and the "days to complete" be set as exact times.

So, lets assume i am a Bank and you are a Saver, and i am offering 50m interest over one month for 900m deposits (=5.6% interest).

So, as a Bank i would put in the Contact system:

Item i want hauled: <-900m>
Ship to: <Same station>
Reward: <50m>
Collateral: <-1 Plex>
Expiration: <3 days>
Days to Complete: <1 month exactly>

A saver would accept that and so receive negative 900m to haul (i.e. give me 900m ISK) whilst the saver puts negative 1 Plex up as Collateral (i.e. i put 1 Plex up as Collateral) and i put 50m ISK aside as collateral for the fees.

In effect, i have received 850m (900 - 50) whilst one of my Plexes is tied up for one month.  I need to turn the 850m into 950m to breakeven.

After 1 month the Saver completes the "haul" and returns the -900m to me (i.e. i give the saver 900m) and i award them 50m fees, and so i get back my 1 Plex Collateral.

If the contact fails then the Saver gets the Plex.

In effect, i have paid the saver 50m interest for 900m 1 month deposit.

That is a Bond, how does it become a Bank?

The above is actually more like a bond (fixed loan with collateral) - turning this into a bank merely requires a series of the above to happen.

The Bank could write new courier contracts every 7 days (i.e. 5 courier contacts on day 1, another 5 on day 8, another 5 on day 15, another 5 on day 22, another 5 on day 29 etc etc giving deposits of 21bn) and so about 20% of the deposits are withdrawn each week (5 contracts complete) hopefully replaced by an inflow from the 5 new courier contacts accepted.

And so we have a bank.

If anyone can see a flaw in my thinking then i am all ears.

Who would want to be act as such a Bank?

Business players (traders / manufacturers) in a corp who had surplus Plex and could give a steady interest income to corp mates who had other things to do (liek blow up ships).  In effect, good traders / manufacturers / business players would be of value to corps looking to provide additional benefits to members.

Anyone who had surplus Plex (like me) and just wanted the fun of being a Bank.

What is the downside for the saver?

If the price of Plex falls below the deposit value - then the Bank would be tempted to take all the ISK to another character and so the contract would fail leaving the Saver with a lower valued Plex.

But the point here is that perhaps we have could have a system in place where Savers are much better protected and so able to participate in a banking system with much more confidence.

How does this add content to the game?

ISK lying around unused would be put to use by the Bank to try and earn the interest to pay the Saver.

Failed banks would see Plex be transferred to someone who is more likely to use it (as game time or to sell to generate ISK).

What will this do for the price of Plex?

If we assumed some banks fail then Plex would be transferred and some likely sold - so, if anything, puts downward pressure on Plex.  Or you could have a load of players wanting to become Banks and so buying Plex for the collateral.

Sunday 2 August 2015

What not to Haul in one shot

I don't often single events out in Eve as an example of what not to do - but this has to be an exception.  I spotted this on reddit.

This zkillboard link shows an Iteron Mark V being killed with cargo of 48bn ISK in it.

That had to hurt.

We could perhaps question the values assigned to the Blueprint Copies - but nonetheless, that is a lot to be transporting in a mere hauler like that.

As ever, i advise using courier contracts to have items hauled including this discussion right at the start of my business on Eve on why using courier contracts makes good business sense.

I have also discussed why i am willing to pay much more to get my items to their destination within 24 hours.

There is a video of a presentation at Eve Fanfest 2015 from a Red Frog member.