Bitcoin Forum

Just an FYI,  payments went out to everyone that had a balance over zero during the month September you got a payment.   Post your confirm here if you got it.

Received .07 btc!

I think you should rename them from "discount payments" to "dividend payments"... discount sounds like I'm losing something, whereas a dividend is easy to understand.

+1..  or savings interest

I wish I could guys... that's what the accountant people said I have to call it...  otherwise we run into IRS issues on how we account for it.

That's weird, the IRS is usually so helpful and useful and valuable to everyone.

got it! +1

That's Awesome.
Thanks for your service.

Have you ever considered opening a borrowing service?
It would have to work with exchanges to secure repayment.
The borrower could short bitcoin and pay back later.

For example, Let's say an exchange wanted to offer a service to short plus margin, but does not have enough liquidity that the market demands. That exchange could then borrow from flex coin at interest until repayment.
Seems like a good idea. Thoughts?

that would be against our TOS.  we don't loan out bitcoins .

Wow... 6.5% interest. That's a lot more than last month and it is much more than the 1% fee. Looks like a lot of people withdrew money during September.

If the service was offered, I envisioned the account holders would have the opportunity to participate or not and the amount they would be available. I would definitely make some available to the day traders and speculators via a trustworthy exchange. Just some thoughts.

There was some growth compared to last month

I'm seeing 0.2867%, which annualizes to about 3.4%  Last month was .004867%, or 5.8% annually.

I just found out that this is based on a daily average. I withdrew some money during the month so my 6.5% is wrong...

Just a note here, most exchanges/ewallets don't pay fees to the miners simply because it is not required. Using some smart strategies (http://bitcoin.stackexchange.com/questions/1188/what-strategies-can-an-e-wallet-use-in-order-to-reduce-transaction-fees) you can totally avoid this. I hope you are having this in consideration in order to maximize your profits.

We pay the fee on every external transfer.

That doesn't make much sense. You should be saving it to to increase the dividends. None of the exchanges charges any fees and transactions always go through. Ever wondered why? You might want to pay a fee sometimes but it is definitely not required for every transaction.

We pay fees because honestly it's the right thing to do...    starting next year remember they are going to 25 BTC reward,  then 12.5 ...  and it keeps halfing...  so our opinion is that miners need to get paid to keep doing the service they are doing.

Agreed.  Also generally when I am using flexcoin, I am making a payment for something I want in person through my phone.  I want that payment to be fast, an so far it has been.  I also do not like using services that have no business model.  Flexcoin for free would be great until it went away because it made no money!

If I was at home with lots of time, I would use my own client and set the fee (if any) that I want to use for that transaction.