Payb.tc, do you think it would be possible to add time periods for the the payout ratio of earnings?
Example:
In the "Auto Re-invest" section, I have the ability to select a time period (in weeks) for my payout ratio of earnings to apply (instead of every week).
So I could choose to "Send me 40% and re-invest 60% of my earnings every 4 weeks" so the payout would build longer than if I did the same payout ratio every single week.
i understand what you mean, it'd be like 0%, 100% 0%, 100% 0%, 100% 40%, 60% 0%, 100% 0%, 100% 0%, 100% 40%, 60% etc. i tried to work this out using an example on my calculator and i think that you can achieve exactly the same result doing this: 10%, 90% 10%, 90% 10%, 90% 10%, 90% 10%, 90% 10%, 90% 10%, 90% 10%, 90% 10%, 90% (in both cases, investing 10 BTC gives you a balance of 16.18 btc at the end) edit: second one gives you 16.19 btc at the end... but they are basically the same. |
|
|
|
following on from the previous post, i just want to make one point clear:
your investment is 100% exposed to BST as soon as you send it to me, regardless of where the outputs of your actual transaction get spent.
whats are your take on to what kind of service BCST is providing to its clients and therefore the risk exposure to your buiseness and that of your lenders? Cheers Zyk P.S. you mean if pirate goes bust you are free of returning principal ? my take is that it works, so i don't really concern myself with trying to find out why it works. if pirate really wanted us to know, he'd tell us. and yes i'm free of returning principal: your principal 'amount' is with BST. an example of that would be let's say to start with i have 200 btc which i keep here: BST wallet 100 i own 100% of these coins My wallet 100 i own 100% of these coins then, a bitcoinmax lender decides to invest 40 btc (sending it to MY wallet), the ownership changes immediately to: BST wallet 100 i own 60 of these coins, and the bitcoinmax lender owns the other 40 My wallet 140 i own 100% of these coins then if BST stops paying, i've lost 60 btc, and the bitcoinmax lender has lost 40 btc, even though the actual 40 bitcoins that he sent are still unspent in my own personal wallet. |
|
|
|
|
following on from the previous post, i just want to make one point clear:
your investment is 100% exposed to BST as soon as you send it to me, regardless of where the outputs of your actual transaction get spent.
|
|
|
|
although i try to pay out withdrawals as quick as I can, they're always subject to availability and may take up to 24 hours even for small amounts, as i may myself need to make a withdrawal from BST.
What do you mean with "subject to availability"? He means that if you ask to withdraw 2000BTC and he doesn't have that much lying around, he'll need to organise a withdraw from BS&T first. ...or wait for other lenders' deposits to cover it. same applies even for small amounts... it just depends how much is in my own wallet when you request the withdrawal. So the deposit addresses we get from you - they are from your wallet, not from a deposit pool of your BS&T account? correct BST account only has 1 deposit address Then it is generous form you that you start counting right after the first confirmation, just rounded to the next half an hour. Unless you have some kind of automatic deposit forwarding that is active while you are sleeping...? no, you're right. it is inevitable that a certain % of the coins will be sitting in my own wallet for a time earning no interest at all. but this is no worse for me really than keeping some of my own personal coins offline. |
|
|
|
although i try to pay out withdrawals as quick as I can, they're always subject to availability and may take up to 24 hours even for small amounts, as i may myself need to make a withdrawal from BST.
What do you mean with "subject to availability"? He means that if you ask to withdraw 2000BTC and he doesn't have that much lying around, he'll need to organise a withdraw from BS&T first. ...or wait for other lenders' deposits to cover it. same applies even for small amounts... it just depends how much is in my own wallet when you request the withdrawal. So the deposit addresses we get from you - they are from your wallet, not from a deposit pool of your BS&T account? correct BST account only has 1 deposit address |
|
|
|
although i try to pay out withdrawals as quick as I can, they're always subject to availability and may take up to 24 hours even for small amounts, as i may myself need to make a withdrawal from BST.
What do you mean with "subject to availability"? He means that if you ask to withdraw 2000BTC and he doesn't have that much lying around, he'll need to organise a withdraw from BS&T first. ...or wait for other lenders' deposits to cover it. same applies even for small amounts... it just depends how much is in my own wallet when you request the withdrawal. |
|
|
|
i just came up with this idea myself today but after a forum search i see that coblee beat me by 2 days  it would be good if deposit/withdrawal was in LTC, but you just have to manage the exchange risk somehow. ...and that would all be a lot easier if there was a litcoinica.com for shorting LTC. |
|
|
|
yes, BST trust accounts start at 5% for balances of 5000 or more.
needless to say, my BST account has a few more than 5000 in it now.
if that ever changes, i'll give lenders advance notice of any change to rates.
I can bump up a few hundreds BTC to my deposit account if you need it, just PM me and give me some time to arrange it. thanks, good to know! |
|
|
|
|
yes, BST trust accounts start at 5% for balances of 5000 or more.
needless to say, my BST account has a few more than 5000 in it now.
if that ever changes, i'll give lenders advance notice of any change to rates.
|
|
|
|
Even though I am no longer depositing with Pirate, bitcoinmax is really an excellent service. At the cut he's taking, this is basically volunteer work (and I'm sure it is a LOT of work). I was always surprised with how dedicated payb.tc has been to his depositors. Very professional and seamless.
+1 Payb.tc customer service is similar to spendbitcoins. now that's what i call a compliment |
|
|
|
|
the way i figure it, most guys with huge balances started out small... so if i take care of the 10 BTC'ers, i'm thinking that many of them will re-invest and naturally become large account holders.
going by the ratio of re-investors to payment-takers, that assumption has so far been quite sound.
|
|
|
|
I'd like to post some feedback on payb.tc: I started an account with Bitcoin Max a little less two weeks ago and have been through two Monday cycles. Overall I felt uncertain about Pirate--this was my first try at a PPT--but I wanted to take the risk to try to recoup some of my significant mining bond losses. I'm pleased to report that everything went smoothly! Payb.tc responded promptly and professionally to my many pestering PMs.  I deposited a quite a few BTC (upper 3 digits) and withdrew most of it (4 digits) today. I also love the level of information the website gives for all aspects of the operation: deposit/interest/withdrawals. Thanks for the great service!  no problem! thanks for the review. |
|
|
|
it's official... the weekly bitcoinmax rate come 1st of August will be:
6.9%
That sucks. I was hoping for 7.5% i was thinking of dropping it to 6.7% since it's taking up quite a bit of time, but in the end decided against it. |
|
|
|
|
it's official... the weekly bitcoinmax rate come 1st of August will be:
6.9%
|
|
|
|
Trust Account
Trust accounts are considered partner accounts, designed for members that manage sub-accounts.
- Benefits:
- Rates Starting At 5%*
- Unlimited Deposits
- Create & Manage Sub-Accounts
- Trusted Account Verification Seal
Starts at 5%? How high can it go and what determines the rate? over 9000, and pirate determines the rate  |
|
|
|
Hey payb.tc, I would like to ask you a question. What other activities do you have on this forum or around Bitcoin in general, apart from this PPT? I believe answering this would be good for your credibility, thanks!
hi cantor, i'm sure my credibility is already fine as it is, but i've done these sites: http://payb.tchttp://bitnot.eshttp://thrucoin.comi've also done development work on a fair few other bitcoin sites for various entrepreneurs, who would probably rather maintain the illusion that they did everything themselves (and that's totally fine with me) edit: almost forgot about http://bitcoinclock.com! |
|
|
|
it's like a savings account & a checking one
anyone attempting to use bitcoinmax as a checking account or online wallet, will quickly discover it's not suited to that purpose at all. although i try to pay out withdrawals as quick as I can, they're always subject to availability and may take up to 24 hours even for small amounts, as i may myself need to make a withdrawal from BST. |
|
|
|
Cannot reverse a transaction unless both parties agrees.
only the receiver has to 'agree' |
|
|
|
|
i should have some answers by this time tomorrow and will post an update here.
as others have said, any changes that are going to happen won't happen until 8th of January 1st of August anyway.
|
|
|
|
|
Show Posts
