It's that magic time where I give the monthly report on my Bank (and things in general).
My Tribe remains active. The City now exists in 3d space on a Minetest server:
The Spi-Invest project has decided to invest in my tribe, with their new Spinvest-Neo initiative.
This has helped bolster the price very nicely lately.
Also, with the help of @eonwarped I have imposed a 20% neoxag tax to those posting on my tribe who do not use my app: neoxian.city. Those who do use neoxian.city are not taxed. The "tax" is burned (goes to
Shortened Steem powerdown time = Potential Threat to Bank.
There is talk of reducing the powerdown time of Steem from 13 weeks to a mere 4 weeks. It's not 100% sure this is going happen, but it seems likely to happen, unfortunately.
I do not agree with this change. There is no real need for it. It will not moon the price. Stupid tricks like this will boost the price of Steem. We need actual innovation, not endless tweeking of dials.
I believe this change will hurt my bank and I will probably shut down the Bank if this change is made.
Taking accounts as collateral is the primary mechanism by which I secure 80% of my loans. The steem power being locked up for 13 weeks is a key part of this.
I'm going to have to keep a very close eye on collateral accounts if they can be drained in just four weeks, it's already a huge hassle the way things are now.
Also it will reduce the demand for my loans. Many people who were not willing to wait 13 weeks for their powerdown to happen might be willing to wait a mere 4 weeks (or less).
I see no need to keep running my bank in an increasing hostile environment. It's not like I make that much money now. Running this bank is a pretty big pain, with little rewards, and frequent defaults, so fuck it. I'm willing to keep doing it with 13 weeks powerdowns, but at 4 weeks, that's too much.
If I do shutdown, obviously depositor money will be returned. Anyway, we'll see what happens.
|Depositor||Amount||Currency||Monthly interest||New Amount|
- Numbers rounded for display purposes.
Best wishes and happy banking.