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PatrickHarnett (OP)
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July 13, 2012, 02:27:30 AM |
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I would like to open an account.
In the OP, it says 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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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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PatrickHarnett (OP)
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July 18, 2012, 07:47:57 PM |
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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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ripper234
Legendary
 Offline
Activity: 1358
Merit: 1003
Ron Gross
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July 18, 2012, 08:14:52 PM |
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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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byronbb
Legendary
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Activity: 1414
Merit: 1000
HODL OR DIE
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July 18, 2012, 10:24:26 PM |
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I wish to have an account. Pm. Thx.
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zaj
Member
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Activity: 103
Merit: 10
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July 19, 2012, 01:27:07 PM |
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pm sent for account
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PatrickHarnett (OP)
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July 19, 2012, 08:22:20 PM |
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Balance list updated at https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017Currently 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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PatrickHarnett (OP)
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July 24, 2012, 09:26:00 PM |
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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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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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July 24, 2012, 09:59:20 PM |
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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  (I can imagine lending 1500 BTC to someone 18,560 km away takes a leap of faith) |
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PatrickHarnett (OP)
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July 26, 2012, 09:39:41 PM |
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Weekly interest paid and updated table of balances at: https://bitcointalk.org/index.php?topic=61262.msg981017#msg981017Total 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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PatrickHarnett (OP)
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July 28, 2012, 11:15:46 PM |
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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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nimda
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July 29, 2012, 12:22:59 AM |
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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? |
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PatrickHarnett (OP)
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July 29, 2012, 12:35:44 AM |
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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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Meni Rosenfeld
Donator
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July 29, 2012, 08:45:21 AM |
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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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ripper234
Legendary
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Activity: 1358
Merit: 1003
Ron Gross
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July 29, 2012, 09:01:00 AM |
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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 (OP)
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July 29, 2012, 09:09:55 AM |
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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?  Sorry for beeing so picky, but I'm slightly confused  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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PatrickHarnett (OP)
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July 30, 2012, 04:46:41 AM |
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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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vite
Legendary
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Activity: 1018
Merit: 1000
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July 31, 2012, 12:44:53 AM |
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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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dooglus
Legendary
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Activity: 2940
Merit: 1330
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July 31, 2012, 02:51:21 PM |
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new accounts are also welcome, as is catering for the range of existing customers
I don't understand what that means. Are you simply saying that customers who currently have more than 100 BTC on deposit can keep it on deposit but not increase the amount? |
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Carnth
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July 31, 2012, 08:13:05 PM |
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new accounts are also welcome, as is catering for the range of existing customers
I don't understand what that means. Are you simply saying that customers who currently have more than 100 BTC on deposit can keep it on deposit but not increase the amount? If you have less than 100 BTC on deposit, you can increase your deposit up to 100 BTC by using the same address you were already given. No need to check in--just do it. If you have more than 100 BTC already on deposit, you will need to check with PatrickHarnett first. |
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