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No Money Cap?


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Yes. You will no longer have a money cap once you hit "Eminent", meaning you obtained over $10,000,000 in prestige. At this point your money cap becomes unlimited.

By the way, if you have four million prestige and you convert it with the 75% penalty, you will keep three million. You don't lose three million.

Edited by Joe (StealthProxy)
Gen. Henry Arnold and Zoex like this
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Just now, Sir Ling Ling (2) said:

Is there ever a point to where you can earn no money cap? Its very demotivating to think that you will have to pay 75% of ur prestige at some point. 4 million isnt even that much either and you have to pay 3 mil of it away?

http://gaming-asylumwiki.com/wiki/Money_And_Prestige 
Eminent rewards you with no money cap.

Joe (StealthProxy) likes this
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20 minutes ago, Joe (StealthProxy) said:

Yes. You will no longer have a money cap once you hit "Eminent", meaning you obtained over $10,000,000 in prestige. At this point your money cap becomes unlimited.

By the way, if you have four million prestige and you convert it with the 75% penalty, you will keep three million. You don't lose three million.

are u sure about that? because when I had like 900k in pres and i took it out I with the ~11% penalty I lost 11%.

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Just now, Sir Ling Ling (2) said:

are u sure about that? because when I had like 900k in pres and i took it out I with the ~11% penalty I lost 11%.

The wiki states the following:

Quote

You can revert your prestige back into cash. This can be done at the Channel 4 News station located above Kavala. However, a heavy Tax deduction may be incurred each time you exchange prestige to cash.

Asylum always take a minimum of 10% and a maximum of 75%.

A player with less than $533,000 prestige will pay a 10% penalty to convert all that prestige back into in-game currency, leaving them with ~$480,000 going into their bank account when they do the conversion.

As you get above $533,333 prestige the amount of the penalty escalates until you get to $4,000,000 prestige at which point it maxes at 75%.

Read all about Money & Prestige here: http://gaming-asylumwiki.com/wiki/Money_And_Prestige

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Just now, Sir Ling Ling (2) said:

Once i hit eminent though will the 10 mil that I have in there be taxed?

When you convert it to actual cash value, then yes, you will be taxed. The tax will probably be the maximum 75%, meaning you will receive 2.5 million instead of the 10 million you had.

Edited by Joe (StealthProxy)
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Just now, Joe (StealthProxy) said:

When you convert it to actual cash value, then yes, you will be taxed. The tax will probably be the maximum 75%, meaning you will receive 7.5 million instead of the 10 million you had.

I thought 75% tax meant you were taxed 75% of all your shit. With what you are saying, with 10% tax you would only get 53k if you pulled out 533k

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Just now, Sir Ling Ling (2) said:

What you are saying makes no sense. You said that with 75% tax you keep 7.5mil/10mil you take out. Tax means they are taking the money, so with 75% tax I would keep 2.5mil if I were to withdraw out 10 mil. That is what is absolutely bullshit.

My mistake. You will keep 2.5 million if you transfer 10 million prestige into cash.

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6 minutes ago, Sir Ling Ling (2) said:

What you are saying makes no sense. You said that with 75% tax you keep 7.5mil/10mil you take out. Tax means they are taking the money, so with 75% tax I would keep 2.5mil if I were to withdraw out 10 mil. That is what is absolutely bullshit.

Don't convert your prestige. While it is a waste, if you manage your money well, you should never have to convert. The prestige is merely meant to build up to get you to Eminent. If you're worrying about converting and percent cut, read Mida's guide below that on how to manage your bank wisely. 

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Just now, Sir Ling Ling (2) said:

I wish there was some way u could buy crate keys with asylum cash. I got so much asylum cash that there is nothing to really do with it and I want dem pilot coveralls. Then again tho, it really wouldnt make sense as keys are supposed to act as a server donation. And asylum cash has no real $ value to devs.

Well to be honest the idea is you are never supposed to convert prestige into cash. Unless your about to die and want to give your friends everything/killing your account.

 

The best way to think of it is.

Prestige is a lump sum that you are paying the bank as a fee for them to hold your money. The more money you have the more that fee is going to be for the bank to hold your money. Luckily for you the bank allows you to pay in increments and once you get to their Double platinum premium account "eminent/10mil prestige" you never have to give them a dime again to hold your money. After you get 10mil prestige no more of your money will ever get turned into prestige :D

Edited by Patato
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3 hours ago, Patato said:

Well to be honest the idea is you are never supposed to convert prestige into cash. Unless your about to die and want to give your friends everything/killing your account.

Couldn't make it more obvious that you're talking about me.. 

3mil give away soon

Edited by Midamaru
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7 minutes ago, Gnashes said:

Once you reach Eminent ($10 Million Prestige), your cash won't convert to prestige again (Unless you get $100MM in your bank, because that's a coded cap nobody is even close to)

Ultimately, prestige is "cash made to hold as an asset to be able to hold more cash". If you pull it out, it's taxed between 15% (400k prestige) and 75% (4MM prestige). The tax is based on what is in your account when you make the withdrawal, not how much you withdraw.

How much does number 1 have?

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