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Author Topic: [CLOSED] BTCST Sub Accounts (PPT) paying 6.8%+ weekly  (Read 4437 times)
JWU42
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July 17, 2012, 08:06:16 PM
 #1

All,

Most of you are aware of the changes with BTCST come August 1st.  I am positioned to get a Trust Account but will fall short of achieving the maximum interest rate.  To that end I am gauging interest in managing sub accounts beginning August 1st.

Please PM me with an amount you can deposit.  If within the next 7 days it appears I am unable to achieve the balance threshold I will advise all and close the thread.

  • 250 BTC minimum
  • 7 day (168 hour) minimum deposit
  • Interest can compound or be paid weekly - Monday Evening (US Central Time)
  • Bonus interest rate for "untouched" deposits after 4 weeks, 8 weeks and 12 weeks anniversarys -- 6.95% maximum


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JWU42
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July 17, 2012, 08:07:19 PM
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Reserved

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JWU42
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July 18, 2012, 05:00:35 PM
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Bumping base rate to 6.8% - see what that does  Cheesy

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July 18, 2012, 06:09:48 PM
 #4

I'm highly interested in this offer. I am currently looking for exactly this, and like how you handle the rest of your business. Please let me know if you do intend to offer this.

I would likely put the min 250BTC in to start, potentially more around the 1st of the month.

Mine at the Maza Club! with ShastaFarEye Prospectors! Mazacoin PPS & P2pool mining, and more services coming soon!
Maza Means Money! Check yours at the mazacha.in!

Please contact me  on my  OTC registered GPG (A54E87F2) Key's email address or guruvan@shastafareye.net  and encrypt all correspondence.
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July 18, 2012, 06:32:43 PM
 #5

Thanks for the kind words guys!


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July 19, 2012, 06:39:07 PM
 #6

Quick update - making progress but still have a bit to go.  Thanks for the posts and PMs.

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July 21, 2012, 07:48:41 PM
 #7

A few more inquiries - still showing progress....

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July 22, 2012, 10:24:39 PM
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Still plugging along -  but will confirm Wednesday if I have enough to hit the 7% threshold.

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July 24, 2012, 12:14:58 AM
 #9

With the announcement that BTCST will push back the August 1st date until August 13th, I will be making a final decision 1 week later (August 1st).

If I can achieve deposits that exceed the threshold for 7% before August 1st all the better.


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July 24, 2012, 05:12:30 AM
 #10

With the announcement that BTCST will push back the August 1st date until August 13th, I will be making a final decision 1 week later (August 1st).

If I can achieve deposits that exceed the threshold for 7% before August 1st all the better.



What are the terms of the agreement ?

Does a Sub account investor with 25% or 50% have the same priviledges as you  ?

Do they get their own BTCST account login ? Is there name listed on agreement

 as owning  certain % with Pirate or is it still giving money to some  anonymous interent guy

in another ppt scheme  ?(not that ppt schemes are bad ,its just harder to confidently send large amounts when you dont know who you are dealing with ) esp on BTC



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July 24, 2012, 04:53:20 PM
 #11

With the announcement that BTCST will push back the August 1st date until August 13th, I will be making a final decision 1 week later (August 1st).

If I can achieve deposits that exceed the threshold for 7% before August 1st all the better.


What are the terms of the agreement ?

This is partially answered in the OP.  namely, 168 hour minimum deposit, interest can be paid or compounded, rates above 6.8% for "untouched" accounts at 4,8,and 12 weeks.  If you need a more specific answer please let me know.

Does a Sub account investor with 25% or 50% have the same priviledges as you  ?
25 or 50% of what exactly?  Sorry, not following this question...  Huh

Do they get their own BTCST account login ? Is there name listed on agreement
Waiting to have this clarified when the new software is loaded on the BTCST site -- maybe around August 1st.

as owning  certain % with Pirate or is it still giving money to some  anonymous interent guy

in another ppt scheme  ?(not that ppt schemes are bad ,its just harder to confidently send large amounts when you dont know who you are dealing with ) esp on BTC

Yes, all funds are a sub account with BTCST (Pirate).  The funds are 100% invested and the 6.8% min. rate is based on the current 7% maximum rate for a trust account.  If, in the future rates changes (up or down) I would adjust the min rate accordingly (i.e., I cannot pay 6.8% if the trust maximum rate is 5%).

As far as trust.  Please review my history with the community.  My OTC feedback is listed in my signature and I (along with two partners) run YABMC on GLBSE.  I am happy to discuss any concerns privately.

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July 25, 2012, 02:04:04 AM
 #12

With the announcement that BTCST will push back the August 1st date until August 13th, I will be making a final decision 1 week later (August 1st).

If I can achieve deposits that exceed the threshold for 7% before August 1st all the better.


What are the terms of the agreement ?

This is partially answered in the OP.  namely, 168 hour minimum deposit, interest can be paid or compounded, rates above 6.8% for "untouched" accounts at 4,8,and 12 weeks.  If you need a more specific answer please let me know.

Does a Sub account investor with 25% or 50% have the same priviledges as you  ?
25 or 50% of what exactly?  Sorry, not following this question...  Huh

Do they get their own BTCST account login ? Is there name listed on agreement
Waiting to have this clarified when the new software is loaded on the BTCST site -- maybe around August 1st.

as owning  certain % with Pirate or is it still giving money to some  anonymous interent guy

in another ppt scheme  ?(not that ppt schemes are bad ,its just harder to confidently send large amounts when you dont know who you are dealing with ) esp on BTC

Yes, all funds are a sub account with BTCST (Pirate).  The funds are 100% invested and the 6.8% min. rate is based on the current 7% maximum rate for a trust account.  If, in the future rates changes (up or down) I would adjust the min rate accordingly (i.e., I cannot pay 6.8% if the trust maximum rate is 5%).

As far as trust.  Please review my history with the community.  My OTC feedback is listed in my signature and I (along with two partners) run YABMC on GLBSE.  I am happy to discuss any concerns privately.

Nobody doubts your own personal honesty but to invest thousands of coins i would need more guarantee than a few honest forum transactions in your history

there is a differnce between investing to you and directly into the BTCST which maybe  risky in itself Smiley  but  id rather invest in the BTCST directly than lend coins to someone who plans to  invest them there

it puts another thing into the equasion  that can go wrong,if your  personal wallet gets hacked etc or all your (+our ) coins get stolen on the way to or the way back from the BTCST account than obviously its not a BTCST problem

if our coins have to go to you personally and can only be withdrawn by you personally then we dont really own any  % of the BTCST investment ,they own a personal debt to you but have no rights at all regarding the BTCST transcations

If you were sick for example ,and the account is in your name Only there is no way anyone can get their coins back etc

thses are questions id like to see answered before putting a solid chunk of money in to the pot
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July 25, 2012, 02:43:04 AM
 #13

Return of coins - Depends on his documentation and deadman switch.  That is an issue I've considered and in the template I worked up, my "deadman switch" operator can unwind 90% of the entire Starfish portfolio in a few hours.

Trusting another person: Entirely valid concern.  I face a similar issue holding large deposits, so interested to see the reaction in this thread too (I've been following it for a while).  However, in my case, I have many people invested many thousands of coins and they need to make that assessment.  It might be that you choose not to deposit with JWU42 and opt for a lower rate somewhere else.
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July 25, 2012, 04:05:21 PM
 #14

@coincidental,

Deposits will be made direct to BTCST and you will have the ability to view your account details.  Others like Payb.tc have their own external website to manage accounts - I would plan to use the BTCST infrastructure.

Perhaps you are a better fit for a direct account (with a lower rate)?

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July 25, 2012, 04:19:26 PM
 #15

@coincidental,

Deposits will be made direct to BTCST and you will have the ability to view your account details.  Others like Payb.tc have their own external website to manage accounts - I would plan to use the BTCST infrastructure.

Perhaps you are a better fit for a direct account (with a lower rate)?


there is no reason i would  accept a lower rate ,i have enough coins to spare to get the highest rate currently on offer and if i didnt there is payb.tc offering 6.9% also

i was just trying to clarify your terms of business  ,sorry if you dont like to be asked questions but i can assure you i would ask the same questions of anyone else running a 1 man bank ..........before making any sizable deposit

"the ability to view details " Is that the same as the ability to withdraw our funds at  will or do all transactions still have to be approved by you as the account holder  ?

Are you offering people shares in the BtCST account  or are you asking to borrow money to invest in the BTCST ? if you cant differentiate between the two you perhaps you should throw in the towel now  because these are pretty simple questions to answer

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July 25, 2012, 05:57:18 PM
 #16

@Coincidental,

There are no shares - it is BTC for BTC.  The trust accounts manage the sub accounts -- less work for pirateat40...

I have no issues whatsoever with asking questions - please ask away  Smiley

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July 25, 2012, 06:09:56 PM
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@Coincidental,

There are no shares - it is BTC for BTC.  The trust accounts manage the sub accounts -- less work for pirateat40...

I have no issues whatsoever with asking questions - please ask away  Smiley

thats a fair answer ,just wanted to clarify what level the potential sub-investors will be on
it gives people the information they need to weigh up the pros and cons of various ppt options

I think the transparency of giving them their own BTCST login  is a positive selling point
that you may have over others who are not offering this (even if they cant make their own withdrawl transactions
its still good to not be totally  locked out of the system )

What is actually visible to trust accounts after login ? Can you see the full network of the
BTCST  or only the balances of  people below who have sub-invested with under you ?  Smiley 
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July 25, 2012, 06:15:30 PM
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@Coincidental,

There are no shares - it is BTC for BTC.  The trust accounts manage the sub accounts -- less work for pirateat40...

I have no issues whatsoever with asking questions - please ask away  Smiley

thats a fair answer ,just wanted to clarify what level the potential sub-investors will be on
it gives people the information they need to weigh up the pros and cons of various ppt options

I think the transparency of giving them their own BTCST login  is a positive selling point
that you may have over others who are not offering this (even if they cant make their own withdrawl transactions
its still good to not be totally  locked out of the system )

What is actually visible to trust accounts after login ? Can you see the full network of the
BTCST  or only the balances of  people below who have sub-invested with under you ?  Smiley 

Unsure of the exact details as the system is not yet complete - hence pirateat40 pushing back the timeline until August 13th.  Access would be to your account only - deposit, payment (interest) and withdrawal history (as it is today).

I suspect the PPT bonds and other programs that exist now will evolve and more people will prefer the sub account model.

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July 28, 2012, 09:48:08 PM
 #19

Thanks again to those who have shown interest.  6% is certain but still a bit shy to hit 7% (required for me to offer 6.8% minimum).

Please let me know if you have any questions.  As mentioned above, I will advise (in this thread) on Wednesday if we have met the threshold.

Thanks!

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July 28, 2012, 09:59:04 PM
 #20

Except for the bonus for untouched accounts, I can't see any advantage over what pay.btc is offering? The minimum deposit is higher, the interest is lower, you cannot withdraw within 24 hours, etc.
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