Author

Topic: LTCPPT #2 - Gauging Interest (Read 1268 times)

sr. member
Activity: 448
Merit: 250
August 14, 2012, 07:27:42 AM
#8
i like this idea and i would like to participate Smiley

Good to hear.


I want to suggest an alternative proposal. What if people can open their own bitcoinmax account but set the interest address to an address you own. Then after you get the coins on Monday, you spend a few days (or maybe a week) buying the litecoins at the exchange and then send people their coins after taking a small cut for yourself. I think a service like that might be more useful. That way, people only have to trust bitcoinmax and pirate with their principle. What do you think?

Been thinking about this overnight, I see where you are coming from. 

- I am considering offering less than 5BTC min - assuming I could automate it picking up deposits, and forwarded it onto the PPT (could easily be scripted). 
- Going direct via bitcoinmax may encourage people to change from "invest all" to "compound" irregularly
- Does not let me "buy ahead" stocking up the coin before when the interest is due (cant estimate how much), buying after doesnt feel "right" as interest would be running a week later, and is more susceptible to market booms-crashes.

I do like some of the positives, would remove the work load from myself. Let me have a think / look into both options.
full member
Activity: 172
Merit: 100
August 14, 2012, 06:31:13 AM
#7
i like this idea and i would like to participate Smiley
donator
Activity: 1654
Merit: 1354
Creator of Litecoin. Cryptocurrency enthusiast.
August 13, 2012, 11:09:01 PM
#6
I want to suggest an alternative proposal. What if people can open their own bitcoinmax account but set the interest address to an address you own. Then after you get the coins on Monday, you spend a few days (or maybe a week) buying the litecoins at the exchange and then send people their coins after taking a small cut for yourself. I think a service like that might be more useful. That way, people only have to trust bitcoinmax and pirate with their principle. What do you think?
full member
Activity: 131
Merit: 100
August 13, 2012, 10:49:43 PM
#5
Based on what I know about PPT I think this is a good idea.
sr. member
Activity: 448
Merit: 250
August 13, 2012, 06:57:01 PM
#4
I have told Coblee I would invest if the minimum was lower, so yes Smiley



I have told Coblee I would invest if the minimum was lower, so yes Smiley

same here

This is a good sign Smiley

I may look to put together a webpage for tracking over the next couple days if I receive some more positive feedback.

What I am considering is

5BTC min deposit (via bitcoinmax)
Min length 1day
Deposits in LTC or BTC
I will over the week (like coblee), trade on btc-e/vircurex/bitparking, using my own funds, convert estimated interest into LTC, then at weekend, use this average, and pay out in LTC when pirate pays. Obviously rolling over to the following week any over-converted LTC from late-in-week withdrawals.

Sound OK? Would like some more feedback thou, 2 depositors is probably not worth the effort.
sr. member
Activity: 266
Merit: 250
LitecoinTalk
August 13, 2012, 02:30:06 PM
#3
I have told Coblee I would invest if the minimum was lower, so yes Smiley

same here
legendary
Activity: 1792
Merit: 1000
August 13, 2012, 02:15:19 PM
#2
I have told Coblee I would invest if the minimum was lower, so yes Smiley
sr. member
Activity: 448
Merit: 250
August 13, 2012, 02:13:32 PM
#1
Two quick questions to the LTC community,

I like the idea by Coblee, of using PPT to promote and get more LTC out there.

Would there be interest in a LTCPPT with a lower-deposit minimum? e.g. 5BTC

Would there be interest in a PPT, where by your initial deposit is reporting back to you in "LTC" at current mid, and so can calculate the effective interest as in PPT itself was LTC (would be 6.9% +/- %BTC vs LTC mid difference / week approx.)

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