[REOPENED!] Brendio's Private Pirate Pass Through - 6.75 % weekly

[brendio]

A depositor pointed out a (minor) mistake in my spreadsheet. I did a "sort by date" command, and it looks like some of the 7% depositor accidentally got put in the 6.75 % group. I have to head out now, but I'll have a look at it tonight and send the difference to those affected.

As I said, I'm looking forward to easier calculations from next week onwards.

Sent out the extra and updated spreadsheet.

[1714906841]

1714906841

[1714906841]

1714906841

[1714906841]

1714906841

[brendio]

I've just sent out this week's payments. Sent within 2 blocks of the interest coming in from BS&T. Don't count on me always being this fast.

[John (John K.)]

I've just sent out this week's payments. Sent within 2 blocks of the interest coming in from BS&T. Don't count on me always being this fast.

Is the payments coming to the GLBSE too? 

[brendio]

I've just sent out this week's payments. Sent within 2 blocks of the interest coming in from BS&T. Don't count on me always being this fast.

Is the payments coming to the GLBSE too? 

Yeah, but it has to wait for another 6 confirmations, and unfortunately, my bed might not wait that long.

[brendio]

This week's payments sent. The GLBSE issue is waiting for confirmations.

[John (John K.)]

This week's payments sent. The GLBSE issue is waiting for confirmations.

Got it. Thanks again for the speedy payment.

[brendio]

This week's payment has been sent out to depositors.

[brendio]

Payments sent.

[brendio]

Pirate paid earlier than usual this week. Payments sent.

[der_meister]

Pirate paid earlier than usual this week. Payments sent.

Thanks

Ideas about new pirate's conditions after August 1st? If you can get trusted account @5% and give to your depositors something like 4.3-4.5% would be nice.

[Epoch]

Pirate paid earlier than usual this week. Payments sent.

Ideas about new pirate's conditions after August 1st? If you can get trusted account @5% and give to your depositors something like 4.3-4.5% would be nice.

Let's be more realistic.

The August 01 terms of BS&T are that the Trusted accounts get a MINIMUM of 5%; the top end is not publicly known. For all we know it is still 7%. It means the pass-throughs will compete for interest rate ... and they may very well end up being near what they are offering right now (i.e. 6.75-6.90%). The 3.9% is for those who want to deposit with BS&T directly; it is low (with a high minimum balance) because BS&T wants to discourage many small accounts; they would rather have a very small number of very large accounts, hence the favourable rates given to the Trusted pass-throughs.

I'm hoping the new lending environment will allow pass-through rates to remain near what they are now; i.e. near 6.75%. It all depends on the rate Brendio (and others), as a Trusted account, can get from BS&T.

My take is this: At this time all we know is that they will get AT LEAST 5%, and likely more. A 0.10-0.25% profit for the Trusted account holder is reasonable, so if BS&T is still giving them 7% then our rates should remain at 6.75%.

In the worst case, if BS&T is offering only 5% to the trusted accounts (not likely to be this low, however), then we can expect 4.75% to 4.9%.

[brendio]

Hi all. I will wait until more details are given before I make an announcement. With four weeks until the change, there is no need to rush decisions, but I will do my best to keep depositors in the loop.

Regards,
Brendio.

[brendio]

Pirate paid earlier than usual this week. Payments sent.

Ideas about new pirate's conditions after August 1st? If you can get trusted account @5% and give to your depositors something like 4.3-4.5% would be nice.

Let's be more realistic.

The August 01 terms of BS&T are that the Trusted accounts get a MINIMUM of 5%; the top end is not publicly known. For all we know it is still 7%. It means the pass-throughs will compete for interest rate ... and they may very well end up being near what they are offering right now (i.e. 6.75-6.90%). The 3.9% is for those who want to deposit with BS&T directly; it is low (with a high minimum balance) because BS&T wants to discourage many small accounts; they would rather have a very small number of very large accounts, hence the favourable rates given to the Trusted pass-throughs.

I'm hoping the new lending environment will allow pass-through rates to remain near what they are now; i.e. near 6.75%. It all depends on the rate Brendio (and others), as a Trusted account, can get from BS&T.

My take is this: At this time all we know is that they will get AT LEAST 5%, and likely more. A 0.10-0.25% profit for the Trusted account holder is reasonable, so if BS&T is still giving them 7% then our rates should remain at 6.75%.

In the worst case, if BS&T is offering only 5% to the trusted accounts (not likely to be this low, however), then we can expect 4.75% to 4.9%.

One thing that needs to be clarified is how the security deposit works. For example, does this deposit earn interest or not? If not, then the effective rate of interest on 5000 BTC would drop from 5 % to 4.5 %. I hope to have answers to questions such as these in time.

[Epoch]

One thing that needs to be clarified is how the security deposit works. For example, does this deposit earn interest or not? If not, then the effective rate of interest on 5000 BTC would drop from 5 % to 4.5 %. I hope to have answers to questions such as these in time.

Yes, how the security deposit is handles will affect things. Fortunately, as you mentioned, there are 4 cycles before the new conditions kick in ... so there's no need to panic, needlessly speculate, or rush anything.

[brendio]

Okay, as a preliminary update, I should be able to keep rates as they are for my private deposits come August. I'm in need of some more funds to stay at that level (on my current balance, rates would drop 1 %), but I am in discussions with investors to bring in the extra funds we need.

I'll announce more information about BS&T Trust Subaccounts in the middle of the month, once the new portal is in live beta and I am comfortable with how it works. If it's all good, I'll migrate investors there and you will better be able to track your investment! I'll probably open things up to new investors then also. In the meantime, if you have 500 BTC plus to invest, PM me.

[brendio]

I'm reopening to new depositors. Interest rate shall be 0.25 % below the tier of my account (so currently 6.75 %).

Minimum deposit: 100 BTC
Interest paid: weekly
Insurance: none.
Deadline for deposits: Mondays 12 pm UTC (I'll pay prorata interest, for the number of full 12 h periods, for the next couple of days until the deadline.
Minimum term: no minimum term, but there will be a 1 BTC withdrawal fee if funds are deposited for less than 4 weeks.

PM me for a deposit address and include an address for interest/withdrawals.

Depositors will be eligible for a BS&T Trust Sub-Account when they launch in August.

[brendio]

This week's interest has gone out.

See post above if you want to get in on the action.

[brendio]

This week's interest has gone out.

My offer of BS&T Trust Sub-Accounts is still open.

[brendio]

Interest payments went out earlier today.

Also, a bump to highlight that deposits are open at the moment:

I'm reopening to new depositors. Interest rate shall be 0.25 % below the tier of my account (so currently 6.75 %).

Minimum deposit: 100 BTC
Interest paid: weekly
Insurance: none.
Deadline for deposits: Mondays 12 pm UTC (I'll pay prorata interest, for the number of full 12 h periods, for the next couple of days until the deadline.
Minimum term: no minimum term, but there will be a 1 BTC withdrawal fee if funds are deposited for less than 4 weeks.

PM me for a deposit address and include an address for interest/withdrawals.

Depositors will be eligible for a BS&T Trust Sub-Account when they launch in August.

[Philj]

did you send info on your PPT clients to pirate as he had asked for?