The Firefly Bank of Neoxian: daily contracts: 2019-08-13steemCreated with Sketch.

in bank •  4 months ago 

The Bank of Neoxian shall loan the sum of 1000 steem to @mango-juice. He promises to repay the 1000 steem or its equivalent in another crypto.

In lieu of interest, he promises to perform 12 Splinterlands quests for The Guild of Neoxian, and also to donate 25000 DEC to the same Guild.

The money amounts are in terms of steem, but are transacted in Steem, SBD, or other crypto. The website coinmarketcap.com shall be used to determine the prices for purposes of payment. The Steem-Engine exchange shall be used to determine the price of Steem Engine tokens.

@mango-juice shall hereafter be known as the lendee…
To insure payment of this loan, the lendee promises to hand over their Owner key(s) to the bank. The bank will give back new active and posting keys to the lendee. The lendee affirms that the owner key(s) are given voluntarily and their account(s) are not stolen. They promise not to initiate the Stolen account recovery procedure.
The lendee agrees that if the Bank decides to change the active key(s) and keep them private, this does not constitute of breach of contract.
Lendee also consents to Bank changing the trustee if the Bank so chooses.
The Lendee promises not to power down the account(s) to the point where the collateral would be less than the owed value, or if it is necessary to powerdown to pay the loan, then the full powerdown should go to the bank.
The Lendee agrees this contract remains valid regardless of any flags this contract post might receive.
Owner key(s) will be returned upon successful completion of loan.

Please sign below...


(pic from https://fanart.tv)

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I agree with all the terms n conditions. Thank you sir. It was a great help! :)

@neoxian,
Congratz for the contract! Seems another huge contract based on STEEM!

Cheers~

Nice Contracts ! :) 💙

Posted using Partiko Android

곰돌이가 @bluengel님의 소중한 댓글에 $0.008을 보팅해서 $0.015을 살려드리고 가요. 곰돌이가 지금까지 총 6167번 $67.611을 보팅해서 $78.913을 구했습니다. @gomdory 곰도뤼~

고마워용~ 곰도뤼~💙

Posted using Partiko Android

oh wow what a great contract, these are the major leagues!

Ideas of help and collaboration abound here in the blockchain.

It is interesting to know about this type of action.

Great contract. Best bank.

Posted using Partiko Android

Fireflies all over the city after this ;) congratulations

LOVE Firefly!

Hi @neoxian! Miss seeing your bank report on WLS 😁

You can no longer mention Firefly on Steem without @themarkymark coming to mind

  ·  4 months ago Reveal Comment

Do you have any idea who I am? I've done hundreds of these loans on this blockchain. An army of people have entrusted me with their keys, and these people come to me, of their own free will, and I've been doing this for two years now.

I take these comments personally. Since you are new, I'll give you the benefit of the doubt, but I would like an apology for this insult.

What seems questionable? It seems like the wording is pretty solid to me. The obligations of everyone is well-defined. I can't think of a way that either could get out of their obligations while fufilling the contract. That is, except for the

or its equivalent in another crypto

line. IMO that could be a little problematic for @neoxian if @mango-juice tries:

  1. Create a Steem Engine token, call it SCAMNEOXIAN
  2. Issue themselves 1000 SCAMNEOXIAN
  3. Place a buy order for 1 SCAMNEOXIAN at 1 STEEM, making SCAMNEOXIAN "worth" 1 STEEM
  4. Issuing 1000 SCAMNEOXIAN to @neoxian and saying that it's "worth" 1000 STEEM

(of course I don't think @mango-juice will do that)

So while there is some wording that can be used to scam @neoxian, this is only a problem for @neoxian, and I can't see anything questionable that could be used against the loaner by @neoxian.

What is not written in that post is Trust. Yes you are quite right there, it's not so hard to create a SCAM token, but no nobody thinks about the after story.

Whatever I am in here, all credit goes to @neoxian and the city. I grew up in the city from a red fish.

Last but not least, there are more agreement conversion in discord which includes that only reputated tokens are allowed for exchange.

Posted using Partiko Android

Yea, that part could probably use more clarity. It's probably not a big deal. I don't automatically accept any crypto or token in existence. There are certain ones that I accept and I wouldn't take some strange token as payment.

I meant no insult. My comment was mainly about the necessity to acquire the private key. From everything I have read it is not safe to give the private key. Unless I misread the article and it was not the private key. If that is the case I do apologise.