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Author Topic: Starfish BCB - Loans and Deposits  (Read 56219 times)
PatrickHarnett
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July 13, 2012, 02:27:30 AM
 #141

I would like to open an account.

In the OP, it says

Quote
Deposits
PM me for a deposit address - this will be your unique account address.  You also need to provide a repayment address.

I will PM you your unique deposit address.
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PatrickHarnett
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July 18, 2012, 07:47:57 PM
 #142

This is tiresome to repeat, but based on a pm I received overnight asking for a withdrawal, it needs to be repeated.

Deposits are not exposed to BS&T.  Even if some of my borrowers choose to stick funds into BS&T and BS&T fails, the deposits are covered by other funds not exposed to BS&T.  Starfish deposits are not BS&T exposed.

I really don't know how to make it any clearer.
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July 18, 2012, 08:14:52 PM
 #143

This is tiresome to repeat, but based on a pm I received overnight asking for a withdrawal, it needs to be repeated.

Deposits are not exposed to BS&T.  Even if some of my borrowers choose to stick funds into BS&T and BS&T fails, the deposits are covered by other funds not exposed to BS&T.  Starfish deposits are not BS&T exposed.

I really don't know how to make it any clearer.

+1

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July 18, 2012, 10:24:26 PM
 #144

I wish to have an account. Pm. Thx.

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July 19, 2012, 01:27:07 PM
 #145

pm sent for account
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July 19, 2012, 08:22:20 PM
 #146

Balance list updated at https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017

Currently 15,130 on deposit supported by approximately 14k in loans and 20k in other investments.  Loose change is only around 80 coins currently because the loan book has grown 4500 over the past week to 10 days and I've had a few withdrawals.

I'm not currently looking for deposits for anything special, and additional deposits 100 and under is no problem.
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July 24, 2012, 01:44:51 AM
 #147

I have been asked to confirm the repayment of a loan extended to "theboss" https://bitcointalk.org/index.php?action=profile;u=60693

Loan repayment http://blockchain.info/tx-index/13264951/5549a7e30305c9e0f487209eb4d756d8c9880a08014a3bb505d1726a0abdda98

The agreement worked well - thank you.
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July 24, 2012, 09:26:00 PM
 #148

Just a note closing off a loan that is worth particular mention.

Back in March I approached wachtwoord to see if he was interested in a loan for something he was looking at.  We agreed terms and now, some five months later the agreement is concluded.  At the time it was the largest loan I had provided to a single person (around 1500 coins).  We adjusted the terms part way through to reflect a slightly quicker repayment plan and to work around some other events that occurred.

And for those interested in a minor piece of trivia, the loan distance was 18,560 km. 
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July 24, 2012, 09:59:20 PM
 #149

Just a note closing off a loan that is worth particular mention.

Back in March I approached wachtwoord to see if he was interested in a loan for something he was looking at.  We agreed terms and now, some five months later the agreement is concluded.  At the time it was the largest loan I had provided to a single person (around 1500 coins).  We adjusted the terms part way through to reflect a slightly quicker repayment plan and to work around some other events that occurred.

And for those interested in a minor piece of trivia, the loan distance was 18,560 km. 

Just posting to confirm the above and thank Patrick again for the loan. He was great to work with and really flexible when I wanted to advance the repayment schedule.

Patrick: thanks for the loan and the trust Smiley
(I can imagine lending 1500 BTC to someone 18,560 km away  takes a leap of faith)

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July 26, 2012, 09:39:41 PM
 #150

Weekly interest paid and updated table of balances at:

https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017

Total deposits 16,797.  Supporting the 250BTC a week in interest is around 12k in loans, 10k in various assets and asset classes, and 14k of other stuff.

Also, in response to a number of similar questions that I have received, top-ups or additional deposits up to a total balance of 100 BTC does not need prior approval. 
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July 28, 2012, 11:15:46 PM
 #151

This is a BTW post.  While deposit rates are going to drop to 1%/wk, to align with the weekly interest payment cycle it will not actually occur until Friday 3rd.
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July 29, 2012, 12:22:59 AM
 #152

This is a BTW post.  While deposit rates are going to drop to 1%/wk, to align with the weekly interest payment cycle it will not actually occur until Friday 3rd.
Will the rates drop on 1 August for compounding accounts?

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
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July 29, 2012, 12:35:44 AM
 #153

This is a BTW post.  While deposit rates are going to drop to 1%/wk, to align with the weekly interest payment cycle it will not actually occur until Friday 3rd.
Will the rates drop on 1 August for compounding accounts?

No - I'll be doing them all on the Friday.  It's not particularly difficult to change, as the 70-ish accounts simply get the balance on the chosen day converted to the new rate, but with the 15 or so that I pay weekly, it is fairer to pay the higher rate for all accounts for the extra few days (it works out to be an extra 40 coins).
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July 29, 2012, 08:10:52 AM
 #154

No - I'll be doing them all on the Friday.  It's not particularly difficult to change, as the 70-ish accounts simply get the balance on the chosen day converted to the new rate, but with the 15 or so that I pay weekly, it is fairer to pay the higher rate for all accounts for the extra few days (it works out to be an extra 40 coins).
Thank you Patrick, but i do not understand the calculation.

I'f im correct we are entitled to 4 days at 1.5 % and 3 days at 1 %?  
So: 1.015^(4/7)*1.01^(3/7)=1.012854119...
You grant us 1.015 which means there is a difference of 0.002145881...
And the extra 40 coins divided by the difference
leads to the conclusion that deposits have grown to roughly 18640 BTC?  Shocked

Sorry for beeing so picky, but I'm slightly confused  Grin

Kind regards
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July 29, 2012, 08:45:21 AM
 #155

some five months later...
(around 1500 coins)...
the loan distance was 18,560 km. 
Wow, that's 4.2 billion coin-kilometer-days! Let's see someone beat that.

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July 29, 2012, 09:01:00 AM
 #156

some five months later...
(around 1500 coins)...
the loan distance was 18,560 km. 
Wow, that's 4.2 billion coin-kilometer-days! Let's see someone beat that.

lol

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PatrickHarnett
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July 29, 2012, 09:09:55 AM
 #157

No - I'll be doing them all on the Friday.  It's not particularly difficult to change, as the 70-ish accounts simply get the balance on the chosen day converted to the new rate, but with the 15 or so that I pay weekly, it is fairer to pay the higher rate for all accounts for the extra few days (it works out to be an extra 40 coins).
Thank you Patrick, but i do not understand the calculation.

I'f im correct we are entitled to 4 days at 1.5 % and 3 days at 1 %?  
So: 1.015^(4/7)*1.01^(3/7)=1.012854119...
You grant us 1.015 which means there is a difference of 0.002145881...
And the extra 40 coins divided by the difference
leads to the conclusion that deposits have grown to roughly 18640 BTC?  Shocked

Sorry for beeing so picky, but I'm slightly confused  Grin

Kind regards

I did half a week on 16k at 0.5%.

If I wanted to be picky, "being" only has one "e"  (lol)  No problem.
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July 29, 2012, 10:51:40 AM
 #158


I did half a week on 16k at 0.5%.

If I wanted to be picky, "being" only has one "e"  (lol)  No problem.
Thank you for clarification.

Hehe i was preoccupied converting the ","s and "."s.
I'll try to focus more on spelling  Cheesy (english is not my native tongue)
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July 30, 2012, 04:46:41 AM
 #159

Just as a note, I have been considering the evolution of the bitcoin economics (particularly via this forum) and have decided to set a hard-limit on deposits at 20,000.

This means that those under 100BTC balance are still fine to load their accounts to 100 BTC without pm'ing first, and new accounts are also welcome, as is catering for the range of existing customers.  Compounding may take me over the planned max, and that is ok. 

Should circumstances change, I will advise.
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July 31, 2012, 12:44:53 AM
 #160

Working with patrick is great I just asked to withdraw and it was processed quickly and smoothly,
thank you Patrick for making me some money

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