- Reserve Account has been increased to 50 BTC.
- Deposits are now allowed at any time during the month.
- Reinvesting interest is now allowed, PM me to signup.
Topic: Reserve Fund has been paid out. This is now closed. - page 2. (Read 14104 times)
UPDATE:
I'm accepting new deposits through Monday to receive a 5% interest payment on June 1st if anyone is interested.
Pm'd It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?
Deposits have been rising and I place the full deposit in my BS&T account, so it is not like I take 1% from each deposit and put it in the reserve fund. After 1 month, from the very first deposit, I've built a 30 BTC reserve. That amount will continue to rise and is not pegged to a %. Now that we have a 2000+ BTC balance, that will enable the reserve fund to grow more quickly. I will admit I have been focusing more on providing a higher base rate and interest rate loyalty rewards than building the reserve fund.
It's been about a month now, and the reserve fund has been at 1% of deposits for the whole period. I know you don't want to specify a timeline for moving to a higher number, but right now these are basically uncovered loans. Is there any further news on plans to cover more than 1% of deposits in case Pirate defaults?
Deposit of 50btc just sent.
A little off topic, but since it was brought up.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Thanks
A little off topic, but since it was brought up.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Timbo925, You do nice work. I like the ones you submitted for Pir8 also.
Congratulations to all depositors, as we have surpassed 2,000 BTC in deposits and the base rate has been increased to 10%! We also got a shiny new logo courtesy of Timbo925.
The politically correct term here is "Sweet."
Congratulations to all depositors, as we have surpassed 2,000 BTC in deposits and the base rate has been increased to 10%! We also got a shiny new logo courtesy of Timbo925.
Interest payment received.
Got 6% instead of 8% ?
Take a look at the agreement you approved. You only received 6% because your deposit was only held for 3/4s of the month (interest rate period). Let me know if you have any concerns and I'd be happy to address them for you. Rest assured you will receive the full 8% on June 1st.
The stupid, it burns...
Got 6% instead of 8% ?
Take a look at the agreement you approved. You only received 6% because your deposit was only held for 3/4s of the month (interest rate period). Let me know if you have any concerns and I'd be happy to address them for you. Rest assured you will receive the full 8% on June 1st.Are you still taking deposits?
Yes, I am still accepting larger deposits. PM me if you're interested. 
Are you still taking deposits?
Got 6% instead of 8% ?
Interest payments have been sent. Thank you to all my depositors.
30 BTC sent, transaction: http://blockexplorer.com/tx/e6126d3e2416776801e0c2e66913ae1d1c90e1d2d9ff2607e8b677bc03973788
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received test payment.
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received.
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
Received your test payment, thanks for your effort
I've sent out 0.01 BTC test payments to all depositors. If you did not receive a 0.01 BTC test payment, you have about 20 hours to let me know before interest payments are sent. If you did receive the test payment, all is well and you will receive your interest payment tomorrow.
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