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Author Topic: [BitcoinMax.com] Closed  (Read 178537 times)
twmz
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July 08, 2012, 10:40:24 PM
 #441

Can I invest as little as 1 btc or is 10 btc the minimum?

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F.A.Q.

Q. What is the minimum deposit amount?
A. To open an account, you must send at least 10 BTC for your first deposit. After that, subsequent deposits can be any amount.

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payb.tc
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July 09, 2012, 05:17:40 AM
 #442

Can I invest as little as 1 btc or is 10 btc the minimum?

Quote
F.A.Q.

Q. What is the minimum deposit amount?
A. To open an account, you must send at least 10 BTC for your first deposit. After that, subsequent deposits can be any amount.

seeing as how the initial influx of new lenders has subsided, i've now dropped the minimum to 5 btc.
PatrickHarnett
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July 09, 2012, 05:45:55 AM
 #443


seeing as how the initial influx of new lenders has subsided, i've now dropped the minimum to 5 btc.


Updated in the WPW thread.
dooglus
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July 09, 2012, 09:24:13 AM
 #444

Updated in the WPW thread.

It took me a while to work out what WPW meant.

It's this thread: https://bitcointalk.org/?topic=81542 ("Who Pays What?")

dooglus
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July 09, 2012, 09:59:43 AM
 #445

whether the examples we've done above are totally accurate or not, the point is you can achieve almost exactly the same result by having a constant % each week... might just need to spend some time on a calculator or spreadsheet first though to work out what that % is for you.

I don't think that's true.  By juggling the percentages you can withdraw every week and arrange to withdraw the same amount as if you withdrew only once every 4 weeks (but end up with a lower principal) or end up with the same principal (but withdraw a smaller total).

For example.  Suppose you deposit 1000 BTC and decide to withdraw 70% of your interest after letting it compound at 7% per week for 4 weeks.

You'll withdraw 217.55 BTC and leave 1093.23 BTC in the account.

Now we attempt to replicate that by withdrawing a fixed percentage of the interest each week.

If we withdraw 67.81% of the interest each week, we'll end up leaving 1093.23 BTC in the account but only withdrawing  47.46 + 48.53 + 49.63 + 50.74 = 196.38 BTC - we're 21.16 BTC worse off than leaving the interest to compound for 4 weeks.

On the other hand, if we withdraw 75.75% of the interest each week, we end up withdrawing 53.02 + 53.92 + 54.84 + 55.77 = 217.55 BTC, but end up with only 1069.65 BTC left in the account - we're 23.58 BTC worse off than in the first case where we left the interest to compound.

In summary:

   weekly withdraw         total withdrawn         total left in account
    ---------------         ---------------         ---------------------
    0% (70% at end)              217.55                   1093.23
    67.81%                       196.38                   1093.23
    70.00%                       202.26                   1086.68
    75.75%                       217.55                   1069.65


So we have to chose to either withdraw the same amount (and keep less) or keep the same amount (and withdraw less).

If you think about it, it stands to reason.  Withdrawing any amount each week is bound to earn you less than leaving the money to compound for a month before withdrawing.  That's why compound interest is 'better' than simple interest.

Edit: added 70.00% weekly withdraw line to table - thanks payb.tc.

payb.tc
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July 09, 2012, 10:06:09 AM
 #446

^^^agreed, but ultimately since the withdrawal is only once per month, i suggested to just leave the account set to 100% re-invest, and request a withdrawal once per month.
dooglus
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July 09, 2012, 10:09:21 AM
 #447

^^^agreed, but ultimately since the withdrawal is only once per month, i suggested to just leave the account set to 100% re-invest, and request a withdrawal once per month.

Right.

When I first saw the request I thought "surely you can just juggle the percentage and get the same result by withdrawing a slightly different amount each week".  Then I saw others saying the same.  And finally, after playing with the numbers, found that actually you can't, and so the feature request actually is a reasonable one, despite my first impressions.

Doing the withdrawal requests manually each month works too - but is probably more work for both you and him in the long run.

payb.tc
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July 09, 2012, 10:14:34 AM
 #448

incidentally, if you withdraw 70% each week you get:


   weekly withdraw         total withdrawn         total left in account
    ---------------         ---------------         ---------------------
    70.00%                       202.26                   1086.68

dooglus
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July 09, 2012, 10:24:51 AM
 #449

incidentally, if you withdraw 70% each week you get:


   weekly withdraw         total withdrawn         total left in account
    ---------------         ---------------         ---------------------
    70.00%                       202.26                   1086.68



Oh yeah.  So you withdraw less, and end up with less principal than if you want until the end of the 4 weeks.  Makes sense.

I added this to my previous post for easier comparison.

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July 09, 2012, 10:42:02 AM
 #450

I may need to temporarily withdraw the contents of my account, not soon or for sure yet, but if i need to will it cause a problem? it would be for a few weeks and then i would have it back to put back in, i would leave whatever i can in the account but it would be most of it.

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payb.tc
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July 09, 2012, 11:33:40 AM
 #451

I may need to temporarily withdraw the contents of my account, not soon or for sure yet, but if i need to will it cause a problem? it would be for a few weeks and then i would have it back to put back in, i would leave whatever i can in the account but it would be most of it.

that should be fine drakahn, just give me 24 hours notice. actually the most convenient time for me to send it would be around the same time as one of the weekly payment runs (but not today's one!).
SkRRJyTC
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July 09, 2012, 01:20:01 PM
 #452

If I change the withdraw % to 100% will I get this week's payment and then a withdrawal for the total amount?
drakahn
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July 09, 2012, 01:21:11 PM
 #453

If I change the withdraw % to 100% will I get this week's payment and then a withdrawal for the total amount?
100% means 100% of your interest will go to your interest account

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SkRRJyTC
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July 09, 2012, 01:23:40 PM
 #454

If I change the withdraw % to 100% will I get this week's payment and then a withdrawal for the total amount?
100% means 100% of your interest will go to your interest account

I see now.  Thanks for clearing that up.
Vandroiy
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July 09, 2012, 04:47:54 PM
 #455

Do stats of the size of this exist, similar to Goat's dividend payment table?
zyk
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July 09, 2012, 06:01:40 PM
 #456

Do stats of the size of this exist, similar to Goat's dividend payment table?

Please what span is due time?  10 weeks 10 months or ten years?

 Cheers Zyk
John (John K.)
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July 09, 2012, 06:37:58 PM
 #457

Do stats of the size of this exist, similar to Goat's dividend payment table?

Please what span is due time?  10 weeks 10 months or ten years?

 Cheers Zyk
I'm not too sure what you mean here. The due time for what?

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drrussellshane
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July 09, 2012, 06:44:51 PM
 #458

Do stats of the size of this exist, similar to Goat's dividend payment table?

Please what span is due time?  10 weeks 10 months or ten years?

 Cheers Zyk
I'm not too sure what you mean here. The due time for what?

I believe he is referring to Vandroiy's signature line...

Quote from: Vandroiy's signature line
I have three ongoing bets that BS&T will default in due time, the largest of which is 5000 BTC with Pirateat40 directly. If you believe BS&T susceptible to a bank run, read my posts with caution!

Buy a TREZOR! Premier BTC hardware wallet. If you're reading this, you should probably buy one if you don't already have one. You'll thank me later.
Vandroiy
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July 09, 2012, 07:40:28 PM
 #459

Please what span is due time?  10 weeks 10 months or ten years?

 Cheers Zyk

I believe he is referring to Vandroiy's signature line...

Quote from: Vandroiy's signature line
I have three ongoing bets that BS&T will default in due time, the largest of which is 5000 BTC with Pirateat40 directly. If you believe BS&T susceptible to a bank run, read my posts with caution!

Uuhhh... damn, I didn't intend this. The time-span is absurdly long, it was just an artifact of the discussion, and I had nothing to lose since Pirateat40 allowed it arbitrarily long.

Please do not make safety assumptions from that. I think joining now has clearly negative expectation value! I did not hedge the bet; my exposure to BS&T is zero, and I have no intention to change that even though he "pays" 7% a week.

People don't like me talking about this, come to the bet thread at https://bitcointalk.org/index.php?topic=91661.0 (ignore the OP, we did something else), I'll answer anything there and less people get angry.



I just came for statistics... anyone please? I just want to know the face BTC value of this pass-through over time.
Valalvax
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July 09, 2012, 08:13:58 PM
 #460

Depends on how you do it, if you keep it in for a week, and withdraw, you will have 1.069 of your original BTC, if you leave it in for two weeks, you will have ~1.14 of the original amount, three weeks ~1.22, four ~1.3, five 1.39, and so on and so on, assuming you don't withdraw any interest... I'm not going to go through and mess with any of the infinite combinations of possibilities you could do, or even mess with the 100 automated possibilities

Is your only point in posting in the thread to spread FUD?
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