[BitcoinMax.com] Closed

[Otoh]

additional funds incoming to double initial deposits

[payb.tc]

additional funds incoming to double initial deposits

very handy thanks, just sent it to someone as part of a withdrawal, meaning i didn't have to ask pirate for it. that's always good.

[Otoh]

additional funds incoming to double initial deposits

very handy thanks, just sent it to someone as part of a withdrawal, meaning i didn't have to ask pirate for it. that's always good.

cool, glad that it was well timed, here's the same again - incoming now

[NothinG]

Would it be possible to let us add a percentage to donate to you per week?

Even if (from me) it's only 1%, it's still a donation.

[ragnard]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

[ehmdjii]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

i have the same question.
also are there any limits on additional deposits? could i send amounts less than 1 BTC?

[Grim Death]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

I sent a deposit without giving further notice. So it should go on for you. The faq at the start says the same.

[ragnard]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

F.A.Q. (make sure you have read this before PM'ing me!)

Q. I deposited money, when will it show up in my account?
A. If it has at least one confirmation, it should show up when you log in to bitcoinmax. <- this means you may need to log out and back in again

Well, that's some egg on my face.  Thanks for reminding me of that.  It was the logging out and back in I didn't try.

[conspirosphere.tk]

I am starting to feel nervous.
I would gladly renounce some interest (let's say around 10-15%, to get 5-6% weekly) in order to have some serious insurance, at least partial, kind of PPT-X and Yarr.
How about it?

[Michail1]

Deposits are not automatic.
PayB.tc manually adds it to your account. 
Good news is that he starts the interest from the time he gets the BTC.

Withdraws are also not automatic.

Interest payments are also not automatic.   That is, he must approve it, and then everyone is paid seemingly at the same time.

You can deposit as much as you want.  I believe you should only give him a head up if you are depositing over 10000BTC.  Probably not an issue for most of us.

You don't need to make a posting each time you make a deposit.  It would probably flood the Forum post.  I have generally just sent a PM, although that is not necessary either.  Remember, the deposit address he gives you is for you alone.  So, he will know it was from you.

[John (John K.)]

Deposits are not automatic.
PayB.tc manually adds it to your account. 
Good news is that he starts the interest from the time he gets the BTC.

Withdraws are also not automatic.

Interest payments are also not automatic.   That is, he must approve it, and then everyone is paid seemingly at the same time.

You can deposit as much as you want.  I believe you should only give him a head up if you are depositing over 10000BTC.  Probably not an issue for most of us.

You don't need to make a posting each time you make a deposit.  It would probably flood the Forum post.  I have generally just sent a PM, although that is not necessary either.  Remember, the deposit address he gives you is for you alone.  So, he will know it was from you.

Deposits are automatic. It's added to your ledger once there is a single confirm in the blockchain. He uses the Blockhain.info API to automatically update your balance.

[Michail1]

Deposits are automatic. It's added to your ledger once there is a single confirm in the blockchain. He uses the Blockhain.info API to automatically update your balance.

Correct.  You don't automatically see it.  Need 1 confirm.  Then must log out and log back in to see it.

[dooglus]

I am starting to feel nervous.
I would gladly renounce some interest (let's say around 10-15%, to get 5-6% weekly) in order to have some serious insurance, at least partial, kind of PPT-X and Yarr.
How about it?

If you withdraw 10% of your balance you will get 10% less interest, and 10% of your balance will be 100% safe.  Or 100% of your original balance is 10% safe.  You can think of it as insurance if you like.

There's no need for payb.tc to offer insurance when you can do it yourself.  If we was to offer more than 10% insurance for 10% of your balance he'd be making a loss, and if he offered less than 10% insurance for 10% of your balance you would be making a loss.

[conspirosphere.tk]

If you withdraw 10% of your balance you will get 10% less interest, and 10% of your balance will be 100% safe.  Or 100% of your original balance is 10% safe.  You can think of it as insurance if you like.

There's no need for payb.tc to offer insurance when you can do it yourself.  If we was to offer more than 10% insurance for 10% of your balance he'd be making a loss, and if he offered less than 10% insurance for 10% of your balance you would be making a loss.

Of course, but I thought that he trusted Pirateat40 more than I now do. If so, he should be willing to risk something selling insurance on Pirate default like others do. If not, I think that I am going to get out of the water.

[dooglus]

Of course, but I thought that he trusted Pirateat40 more than I now do. If so, he should be willing to risk something selling insurance on Pirate default like others do. If not, I think that I am going to get out of the water.

It sounds like you're saying you want more than 6.9% on the uninsured part of your deposit.

In order to pay you that, payb.tc would have to invest the insured part with pirate as well, and then may not be able to pay you in the case of a pirate default.  Unless he has other funds he's willing to risk.  But in that case it would be more cost effective to stop offering insurance and put those other funds with pirate rather than holding them somewhere safer so he can be sure to be able to pay out insurance claims.

Insurance companies are able to make a profit because not everybody's house burns down on the same day.  The ones who don't suffer a disaster pay for the ones who do to rebuild their house.  With BS&T it's different - if it defaults, it defaults for everyone.

[conspirosphere.tk]

It sounds like you're saying you want more than 6.9% on the uninsured part of your deposit.

No. I want less on all of my deposit, but at least partially insured from Pirate's default.

In order to pay you that, payb.tc would have to invest the insured part with pirate as well,

Not with Pirate: it would compound the risk. It would be better investing the insurance fees in a basket of the biggest mining companies.
It is what I am privately doing already: 50% of my BTC savings in big mining companies, and the rest in PPT-x and Bitcoinmax.

and then may not be able to pay you in the case of a pirate default.  Unless he has other funds he's willing to risk.

That is the whole point: would payb.tc risk something betting against a Pirate default?

[payb.tc]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

this can happen if blockchain.info's api is down.

please log out and try again now and let me know if it's still not showing up.

all accounts are fully checked for new transactions just before the payouts are done anyway, so you'll get the right interest calculation.

[payb.tc]

and then may not be able to pay you in the case of a pirate default.  Unless he has other funds he's willing to risk.

That is the whole point: would payb.tc risk something betting against a Pirate default?

i already kind of am; by having some of my own coins in BST.

there is no incentive to do insured accounts because let's say you wanted to deposit 100 BTC fully insured for 5% per week.

in order to earn interest on those coins, i'd have to have them deposited with BST (eg. at 7%).

to fully guarantee your coins, means i'm personally putting 100 BTC of my own money at risk.

therefore, i'm risking 100 BTC of my own coins to make 2% per week on it.  <- this is the part that doesn't make sense to do this... when i could just get the full 7% from BST with the same risk level by depositing 100 extra into my account.

[payb.tc]

Are deposits automatically entered into the system, or do we have to let you know each time we send one?  I sent 20BTC about 40 minutes ago and it still isn't showing up in my online account.

i have the same question.
also are there any limits on additional deposits? could i send amounts less than 1 BTC?

as stated above, deposits are automatic (using blockchain.info's api)

your second question is answered in the FAQ... if i've already set you up with a login, your additional deposits can be as little as 0.00000001 if you like.

[Michail1]

"...your additional deposits can be as little as 0.00000001 if you like."

I know what my next deposit amount is.