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Offline bitmarket

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I just earned a penny in interest on my $5 bitUSD
« on: October 15, 2014, 09:20:45 AM »

It takes about $70,000 to earn that same penny in my bricks and mortar accounts.
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Offline bitmarket

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #1 on: October 15, 2014, 09:22:17 AM »
I can make a cool video on this.

Is there a resource that shows the interest rate on bitUSD?
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Offline eagleeye

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #2 on: October 15, 2014, 09:29:42 AM »
I can make a cool video on this.

Is there a resource that shows the interest rate on bitUSD?

 +5% +5% +5%

Boom is all I got to say.

Offline fuzzy

Re: I just earned a penny in interest on my $5 bitUSD
« Reply #3 on: October 15, 2014, 09:36:18 AM »
I can make a cool video on this.

Is there a resource that shows the interest rate on bitUSD?

 +5%
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Offline bitmarket

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #4 on: October 15, 2014, 02:21:35 PM »
Can I get details on how often interest is paid and what the current rate is for the video?
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Offline xeroc

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #5 on: October 15, 2014, 03:02:32 PM »
Can I get details on how often interest is paid and what the current rate is for the video?
1) .. the "interest" is called YIELD!
2) it is payed EVERY f*** time you transfer your bitAsset from A to B (unless it is younger than 24h)
3) the reserve fund gives a hint about the yield payed and can be viewed by "blockchain_get_asset USD" (AFAIR)

Read more here:
https://bitsharestalk.org/index.php?topic=8396.msg109508#msg109508 (outdated)
https://bitsharestalk.org/index.php?topic=8520.0

TOTAL_ACCUMULATED_FEES == reserve fund .. for each individual asset ..

Quote
delegate (unlocked) >>> blockchain_get_asset USD
{
  "id": 22,
  "symbol": "USD",
  "name": "United States Dollar",
  "description": "1 United States dollar",
  "public_data": "",
  "issuer_account_id": -2,
  "precision": 10000,
  "registration_date": "20140719T000000",
  "last_update": "20140719T000000",
  "current_share_supply": 3637490665,
  "maximum_share_supply": 1000000000000000,
  "collected_fees": 54497548
}

> 54497548/3637490665*100
ans =  1.4982 %


// edit: CNY:
octave:1> 96770574/3492426921*100
ans =  2.7709
« Last Edit: October 15, 2014, 03:06:35 PM by xeroc »
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Offline Empirical1.1

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #6 on: October 15, 2014, 03:08:59 PM »
It takes about $70,000 to earn that same penny in my bricks and mortar accounts.

Yeah that would make a cool video. I might wait though, the new system will have shorts competing on yield so it should be even higher than the 1.5% your last video referenced.
« Last Edit: October 15, 2014, 03:11:12 PM by Empirical1.1 »

Offline bluebit

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #7 on: October 15, 2014, 03:15:23 PM »
So you can earn interest if you hold bitUSD?
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Offline Empirical1.1

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #8 on: October 15, 2014, 03:20:04 PM »
So you can earn interest if you hold bitUSD?

I believe it's called 'yield' in BTSX. But yes my understanding is it's currently 1.5% per annum for BitUSD. (As shown by Xerocs calculation above.)

However they're making a few changes to how shorts compete that will make the yield higher than that. How much, I don't know.

Offline Riverhead

Re: I just earned a penny in interest on my $5 bitUSD
« Reply #9 on: October 15, 2014, 03:41:57 PM »
So you can earn interest if you hold bitUSD?

This is one of BitSharesX's biggest features!

The exchange is not paying for rent, an HR department, health plans for employees, and all the other stuff that goes into running a traditional company.

Most importantly DPOS is much much cheaper than POW. Those savings go right into your pocket instead of the Miner's.

The fees collected from transactions can be paid back to the holders of the asset as a yield.
« Last Edit: October 15, 2014, 03:46:43 PM by Riverhead »

Offline xeroc

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #10 on: October 15, 2014, 03:45:14 PM »
So you can earn interest if you hold bitUSD?
ha .. that's not even the awesome thing .. but figure this out:

YOU CAN GET A YIELD (INTEREST) on BITGLD!!! TOO ..

every asset has it's own interest rate though ..
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Offline oco101

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #11 on: October 15, 2014, 03:47:04 PM »
So you can earn interest if you hold bitUSD?

This is one of BitSharesX's biggest features!

The exchange is not paying for rent, an HR department, health plans for employees, and all the other stuff that goes into running a traditional company. The fees collected from transactions can be paid back to the holders of the asset as a yield.

And if there are more transactions the yield will be higher. So more BitshareX is used the more yield you potentially earn, also it should be noted that the yield it is not the same for all the bitAssets

Offline bluebit

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #12 on: October 15, 2014, 03:58:19 PM »
This is fantastic!!! Would be cool to see the yield/interest number that can be earned in the BTSX wallet next to each asset
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Offline Riverhead

Re: I just earned a penny in interest on my $5 bitUSD
« Reply #13 on: October 15, 2014, 04:03:24 PM »
This is fantastic!!! Would be cool to see the yield/interest number that can be earned in the BTSX wallet next to each asset


I would be surprised if this wasn't going to be in the new client cass is working on. I also wouldn't be surprised if SVK has the graphs on his website ( http://bitsharesblocks.com/home ) soon after.

Offline bluebit

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Re: I just earned a penny in interest on my $5 bitUSD
« Reply #14 on: October 15, 2014, 04:12:33 PM »
This is fantastic!!! Would be cool to see the yield/interest number that can be earned in the BTSX wallet next to each asset


I would be surprised if this wasn't going to be in the new client cass is working on. I also wouldn't be surprised if SVK has the graphs on his website ( http://bitsharesblocks.com/home ) soon after.

Very cool, looks like the new asset EUR is going to be created soon :)
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