Author Topic: Fixed Term BitUSD Savings Club  (Read 4426 times)

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Offline Empirical1.2

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Eg. if 10% claim early and 10% don't perform a 'proof of life' action during the claim month, that will generate 15% Per Annum.


Murder is motivated..  ???

 :D

1. In a large pool of funds, the impact any one individual has is likely to be small.
2. If one person was known to hold a large amount of crypto, they're more susceptible to blackmail/kidnapping.
3. BTS will have STEALTH

Imagine a $10 million fund and you knew someone had $250 000 in it.
If you murdered him that would only generate $250 for every $10 000 you personally held in the fund.


Great idea, I'm in! Not exactly gambling but enough gambling-like so that people seeking risk and profits might really use this.

This could be done so that every month starts a new "batch" where people can put their money. This should be done also with BitCNY and BitEUR.

 +5%, I would also consider BitGold too.

So where is the interest for this coming from?

1. Traditional fixed term deposits usually have high penalty fees for early withdrawals.
A percentage of savers will due to unforeseen reasons or better investment opportunities need to remove their funds early, the penalty fees they incur for this are given to the savers who keep their funds in till maturity. So this will generate some interest/rewards.

2. There is also as mentioned the suggesting of doing some 'proof of life' at maturity. People who fail to do this will either forfeit/pay a penalty and these will be distributed to everyone else. Again generating interest/rewards.

3. If the bond market is in place. The fund could perhaps also be put on the market and generate some interest/rewards there.

It seems harsh to pay a penalty if you forget/lose your private key/are detained/die but people would be entering into this voluntarily.
In the case of death or losing your private keys, your funds would most likely be lost anyway.

(Ideally this would all be coded, so no-one has access to the funds, it would all be handled by blockchain code.)

« Last Edit: December 15, 2015, 03:51:16 pm by Empirical1.2 »
If you want to take the island burn the boats

Offline Thom


Eg. if 10% claim early and 10% don't perform a 'proof of life' action during the claim month, that will generate 15% Per Annum.


Murder is motivated..  ???

In contrast, it motivates STEALTH to circumvent the murder motive!
Injustice anywhere is a threat to justice everywhere - MLK |  Verbaltech2 Witness Reports: https://bitsharestalk.org/index.php/topic,23902.0.html

Offline BunkerChainLabs-DataSecurityNode

So where is the interest for this coming from?
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Offline puppies

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Eg. if 10% claim early and 10% don't perform a 'proof of life' action during the claim month, that will generate 15% Per Annum.


Murder is motivated..  ???

Lol.  As is reporting others to the authorities, or infecting them with viruses so they lose their private keys.
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Offline abit

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Eg. if 10% claim early and 10% don't perform a 'proof of life' action during the claim month, that will generate 15% Per Annum.


Murder is motivated..  ???
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Offline Samupaha

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Great idea, I'm in! Not exactly gambling but enough gambling-like so that people seeking risk and profits might really use this.

This could be done so that every month starts a new "batch" where people can put their money. This should be done also with BitCNY and BitEUR.

Offline Empirical1.2

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A one year time locked BitUSD savings club

This is a club where you are essentially gambling that you will not need access to your funds for an entire year and won't die/be detained/forget or lose your private keys and that enough others will, so that it generates meaningful interest.

- You can claim early but then you pay a 20% penalty fee.
-  In the final month you must perform a 'proof of life' account action or your deposit and interest will be forfeited.

 People who are forced to access their funds early, People who die/are detained/forget/lose private keys will pay penalty fees which will fund the returns for others.

Eg. if 10% claim early and 10% don't perform a 'proof of life' action during the claim month, that will generate 15% Per Annum.

Obviously the numbers can be tweaked and I have no idea how many will claim early/not claim.

It seems this could all be coded in a smart contract.

Once the bond market is in place the fund can be directed towards that and earn additional rewards.

This will take BTS off the market and increase the CAP of BitUSD.

Thoughts?

If you want to take the island burn the boats