Just want to bring this up again.
We will decrease reward down to 0.5% tomorrow
Dmitry, thank you very much for your generous donation, AGAIN.
But there are still 34 % (233 M) of Burst parked on the exchanges, so I am not sure you're getting what you aimed for.
I hope you are not going to p&d the markets (as you may own half the parked coins)..
But I have seen that there's nearly zero activity with the (mining) assets, not neccessarily due to your injection.
Opinions ? Where are we heading ?
Some amount of Burstcoins was removed from exchanges, may be 10.000.000 - 20.000.000 directly to our member wallets.
Also we can see that Burst price start some climbing. Not sure because of BurstBank or not.
It is a long term project, so lets wait a bit more, may be several weeks or months, then we could see some results i think.
Now we got near 100.000.000 Bursts involved, tomorrow we will decrease reward again, down to 0.3%, and will slowly downgrade it more, proportionally total amount increasing.
I appreciate this activity, but is possible to run it in long term? The involved wallets can be dumped imidiately.
Woudnt be better some AT script holding the BURST and releasing them slowly after some time? E.g 5% each month.
Each user would have own smart contract:
I send amount of X BURST to the script address
Burst Bank send e.g. 2% of X to the script address
after 7 days the script checks if there is X+(X/100*2) BURST
If not - it means, no interest from the BurstBank - X Burst is sent back to me
If yes - it will wait 10800 blocks (30 days) and then it will send (X+X/100*2) 20 - it will take 20 months to get the burst back.
I was also thinking about holding the burst for the whole year, but when releasing it at once will cause dumping the price in the future.
I modified the crowdfund AT, to expect 1,050,000 BURST after 4 day after creation. 1,000,000 will be provided by the owner ow the script. 5% will be provided by anyone who wants to block the amount for the next year.
When the target is not met, BURSTs will be sent back (same as in crowdfund)
If the amount will be greater or equal it starts sending BURST to the owner of the script. 1/12 each 30 days (10800 blocks).
It can be modified by adding delay before first sending (optional $blocks_before_first_repayment)
DISCLAIMER: Its my first script, so take it only as proof of concept. Can someone who understands ATs check it for mistakes? Thanks :-)
SET @months #0000000000000012
SET @interest_decision #0000000000001440
SET @month_in_blocks #0000000000010800
SET @target_amount #0105000000000000
FUN @block_height get_Block_Timestamp
SLP $interest_decision
FUN @amount get_Current_Balance
BGE $amount $target_amount :repayment
FUN @timestamp get_Creation_Timestamp
refund_loop:
FUN A_to_Tx_after_Timestamp $timestamp
FUN @tx_info check_A_Is_Zero
BZR $tx_info :end_loop
FUN @tx_amount get_Amount_for_Tx_in_A
FUN @timestamp get_Timestamp_for_Tx_in_A
FUN B_to_Address_of_Tx_in_A
FUN send_to_Address_in_B $tx_amount
JMP :refund_loop
repayment:
FUN @monthly_payout get_Current_Balance
DIV @monthly_payout $months
FUN B_to_Address_of_Creator
(SLP $blocks_before_first_repayment)
repayment_loop:
SLP $month_in_blocks
FUN @current_ammount get_Current_Balance
BGE $monthly_payout $current_ammount :end_loop
FUN set_A1 $current_ammount
FUN send_A_to_Address_in_B
FUN @timestamp get_Last_Block_Timestamp
JMP :repayment_loop
end_loop:
FUN A_to_Tx_after_Timestamp $timestamp
FUN @tx_info check_A_Is_Zero
BZR $tx_info :end_loop
FUN @timestamp get_Timestamp_for_Tx_in_A
FUN B_to_Address_of_Creator
FUN send_All_to_Address_in_B
JMP :end_loop
Any updates on 'Decentralized Bank' AT?
Also, if someone wants or needs to withdraw funds early they should be allowed to, just charge a fee proportional to the size of the "CD" The fee could be kept by the bank as profits, or whatever.
Decentralized Bank dont need any profits, those fees from early withdrawed funds may be distrubuted to more patient members!
In this case, Bank can be able to successfully operate even without any sponsors!
Unpatient dumpers will lost, for example, 20%, that will go to more patient holders.
It will be much stronger motivate to hold coins, that currently
BurstBank.comSo this Decentralized Bank (if will got many amounts and members involved), will prevent dumps at all and will smooth volatility!
That is a very important problem of cryptocurrencies, in cause of solved - Burstcoin can be able to get amazing attention and rise very high!
If it will be created, i can sponsorship start balance for percentages, and also will put a big part of my Burst as a member.
Totally agree that would be awesome!
Btw. thanks sooo much for the daily interest, i will keep my gentlemen's agreement to hold :-)
