Nova Posted July 3, 2016 Share Posted July 3, 2016 Introducing - ICF Economy We are pleased to introduce a new ICF economy for our members to earn ICF money. The currency will be ICF Rupees. 1. How to earn ICF Rupees? You can earn ICF Rupees by making runs. Runs are basically points you get for participating in forum activities. Accumulated runs are then exchanged for ICF Rupees once or twice a month. Ways to make Runs Cricket Talk Forum (Runs) IPL, Chit Chat, Other Sports, Politics Forum (Runs) Create Thread 400 200 Reply to Thread 30 20 Receive replies (Topic starter gets points) 20 10 Write an Article * 5,000 5,000 * Articles have to be approved by ICF Staff and are subject to revisions. 1.1 Bonus may be awarded: To Poster of the Week/Month For outstanding posts at the discretion of ICF staff. On special occasions such as Diwali, Christmas, ICF Anniversary, etc. 2. How to exchange runs for ICF Rupees? 2.1. Conversion of runs to ICF Rupees is not automated. Transaction threads will be opened by @ICF BANK where members can post to request conversions. Specified runs will then be deducted from your account and ICF Rupees will be credited according to a set exchange rate. The current rate is 1:10 2.2. Request for conversion of runs to rupees may only be done once or twice a month. 2.3. ICF Bank is only for transaction purpose. Please do not message this account for any other queries or help. 3. Making transactions using the Economy Dashboard: 3.1. You will have two accounts in your Economy Dashboard: Spending Account and Savings Account (disabled currently). ICF Bank will deposit your earnings to your Spending Account. Savings Account scheme will be offered on special occasions to ICFers. 3.2. You can send ICF Rupees to other members using the dashboard. Note: On desktop site, the Economy Dashboard is located here and in the drop down menu at top right section of the forum You can also access it on mobile site in the Main Menu > Apps > Economies. 4. What to do with ICF Rupees? Use your money in creative ways: 4.1. Betting on matches (including Live betting) 4.2. Organize your own games and use Rupees for payouts or awards. ICF Bank may sponsor some games. 6. Rules and Guidelines 6.1. Creating frivolous threads or spamming just to earn runs will get you warnings and ban. 6.2. Please do not abuse the system but strive to participate in a fair manner. 6.3 If a thread gets deleted, the topic starter will lose the runs gained at the time of making the thread. 7. Other Notes: 7.1. As we are running this model for the first time, there is room for further improvement and/or revisions as necessary. 7.2. This new economy is conservative as compared to the previous inflated ICF $ model. We would like to have a realistic economy rather than circulation of hyper-inflated billions/trillions. If there are any questions, suggestions or feedback, please do reply in this thread. The ICF Economy and Betting sections are now open. Please visit the Banking Threads to avail of their services here. tweaker, Laaloo and PBN 3 Link to comment Share on other sites More sharing options...
Nova Posted July 3, 2016 Author Share Posted July 3, 2016 A vote of thanks to @Malcolm Merlyn , @varun , @radhika , @G_B_ for their contribution to the discussions behind the scenes. tweaker and G_B_ 2 Link to comment Share on other sites More sharing options...
sourab10forever Posted July 3, 2016 Share Posted July 3, 2016 Thanks guys Will request you to fund the fantasy hub competition. Link to comment Share on other sites More sharing options...
Malcolm Merlyn Posted July 3, 2016 Share Posted July 3, 2016 @zakk@gaurav92 Link to comment Share on other sites More sharing options...
Malcolm Merlyn Posted July 3, 2016 Share Posted July 3, 2016 Exchange rate of 1:1 for ICF rupees is too low. Link to comment Share on other sites More sharing options...
Malcolm Merlyn Posted July 3, 2016 Share Posted July 3, 2016 2 hours ago, sourab10forever said: Thanks guys Will request you to fund the fantasy hub competition. A thread will go up for loans.Present your proposal there. Link to comment Share on other sites More sharing options...
sourab10forever Posted July 3, 2016 Share Posted July 3, 2016 So if someone creates a match thread, he totally will earn 20*min of 200 replies+400 for creating threads. Isn't this too much? Link to comment Share on other sites More sharing options...
sourab10forever Posted July 3, 2016 Share Posted July 3, 2016 (edited) 20 minutes ago, sourab10forever said: So if someone creates a match thread, he totally will earn 20*min of 200 replies+400 for creating threads. Isn't this too much? Okay my bad. Forgot about the bidding for match threads. Edited July 3, 2016 by sourab10forever Link to comment Share on other sites More sharing options...
Nova Posted July 3, 2016 Author Share Posted July 3, 2016 29 minutes ago, sourab10forever said: So if someone creates a match thread, he totally will earn 20*min of 200 replies+400 for creating threads. Isn't this too much? Yes the earning will be high. In such cases, the plan is to have match bidding where the highest bidder gets to open the thread. If you don't have funds for bidding, then one can take out a loan from the bank and pay back the loan later. ICF Bank will take a cut of the earnings from the profit. Also you could think of it like a tax. I suppose the idea is to spice things up and make it more fun. sourab10forever 1 Link to comment Share on other sites More sharing options...
Nova Posted July 3, 2016 Author Share Posted July 3, 2016 Update: Interest rate for 30 day investment in savings account is set at 2% per day. This means a savings of Rs. 10,000 will yield Rs. 16,000 after one month of holding period. Also conversion rate from runs to Rupees is now being set at 1:10. We will try it out with these figures and see how things shape up after a month or so. Link to comment Share on other sites More sharing options...
Laaloo Posted July 3, 2016 Share Posted July 3, 2016 Good job as always Nova but don't you think the amounts are too high? Link to comment Share on other sites More sharing options...
Nova Posted July 3, 2016 Author Share Posted July 3, 2016 9 minutes ago, laaloo said: Good job as always Nova but don't you think the amounts are too high? Let's try this out and see. We can always reduce it. Our model is flexible. Link to comment Share on other sites More sharing options...
sourab10forever Posted July 4, 2016 Share Posted July 4, 2016 Where do I find the economy dashboard on the mobile site? Link to comment Share on other sites More sharing options...
Nova Posted July 4, 2016 Author Share Posted July 4, 2016 (edited) 4 hours ago, sourab10forever said: Where do I find the economy dashboard on the mobile site? You should be able to see it now on mobile site. See image here. It's located in main menu below Pages. Update: You can access it on mobile site in the Main Menu > Apps > Economies. Edited July 4, 2016 by Nova Link to comment Share on other sites More sharing options...
sourab10forever Posted July 4, 2016 Share Posted July 4, 2016 2 minutes ago, Nova said: You should be able to see it now on mobile site. See image here. It's located in main menu below Pages. Yes found it. Thanks. Link to comment Share on other sites More sharing options...
Nova Posted July 4, 2016 Author Share Posted July 4, 2016 3 hours ago, sourab10forever said: Yes found it. Thanks. There has been an update for the location of Economy Dashboard. You can now access it on mobile site in the Main Menu > Apps > Economies. Link to comment Share on other sites More sharing options...
sourab10forever Posted July 4, 2016 Share Posted July 4, 2016 (edited) Please set up a thread in the cricket-talk section where we can bid for match threads whenever you find time. Also set up some rules for placing the bids(Like deadline,Minimum bid etc) Edited July 4, 2016 by sourab10forever Link to comment Share on other sites More sharing options...
sourab10forever Posted July 4, 2016 Share Posted July 4, 2016 @Nova Can I go ahead and create the match thread since the bidding process hasn't started yet? Link to comment Share on other sites More sharing options...
beetle Posted July 4, 2016 Share Posted July 4, 2016 Why do I have 0 runs and no money ?:( Link to comment Share on other sites More sharing options...
Nova Posted July 4, 2016 Author Share Posted July 4, 2016 10 minutes ago, radhika said: Why do I have 0 runs and no money ?:( You have 50 runs. You may not see it if you are browsing the mobile site. How do you browse the site usually? 19 minutes ago, sourab10forever said: @Nova Can I go ahead and create the match thread since the bidding process hasn't started yet? Wait. Is this the Eng - Lanka T20? @Malcolm Merlyn what is your plan about this? Link to comment Share on other sites More sharing options...
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