A bit of education shouldn’t be too hard. You appear to be treating potential parkers as having no educations, can’t read types at a cost of Nu by advertising lower rates than they can actually get. It sounds like deceiving.
We disagree. I would advertise clear rates for fixed periods like any bank does. Why make it hard and be different when you want to attract people from outside of this community?
Park for 3 months (until 23 July) and have 13% p/a return. Sounds clear doesn’t it?
That is what “~” is for. The rates have been floating.
Feel free to follow-up the post at bitcointalk. I am not sure if the lending one can survive because it might be limited to bitcoin lending.
Huh?
We provide parkers with a calendar and tell them how much they get if they park x amount on y day. That’s the feedback parkers get from our UI. Is it simpler if they see the same number on all the days and can choose when they want their money to appear again in their wallet, or if they find out they have to test each day to find out how much they get and it drops off precipitously at some date?
My suggestion would be as follows:
3% for 12 days
6% for 23 days
12% for 1.5 months
6% for 3 months
3% for 6 months
1.5% for 1 year
The GUI is not great. It would be better when the current rates are selected that the 'approximate end date would be set accordingly. It is now a puzzle to calculate the right days based on the duration chosen.
[quote=“Nagalim, post:424, topic:161”]
We disagree, setting rates beyond 3 months is not a good idea at this stage as we are taking a mortgage far into the future. I’m surprised that you suggest such a thing. But I will shut up and leave the floor to other opinions.
I’m talking about the network as is.
And I’m surprised you would suggest 12% for 3 months. It’s a mortgage far into the future and as I’ve shown I would only be comfortable with half that amount. But I agree we’re speaking past each other.
I don’t know whether it was read, although I linked it before.
Can my reasoning for the park rates I set in my data feed shed any light on this discussion by hopefully explaining it from a slightly differrent angle?
This is gonna be a bit off-topic, but still talking about park rates and just to clarify its protocol rules:
From the investors POV, how do park rates work during park length?
e.g. blockchain shows 1yr length, 12% pa => investor parks 100 NBT; after 1yr he gets back 112 NBT unparked no matter what subsequent changes in park rates might be during his NBT parked time.
OR
e.g. blockchain shows 1yr length, 12% pa => investor parks 100 NBT; after 1yr he gets back 100 NBT (principal) unparked plus (previously) unknown interest depending on the median park rate voted for that whole 1yr invested period.
P.s. I think it’s important to clarify that details before advertising this offer beyond this forum…
It works like 1 “Fixed rate bonds”. The reward in NBT is displayed in the client when you lock in the funds.[quote=“Financisto, post:428, topic:161”]
P.s. I think it’s important to clarify that details before advertising this offer beyond this forum…
[/quote]
Good one. Will edit my post
Thanks.
No problem.
@mhps already did that saying “Once you park, your rate is fixed.”
I just came up with that because people (those who never researched what Nu ecosystem is) might still think this is some sort of SCAM where you get your coins stuck while your promised interest rate could be a “grey area” to step in…
Right I mentioned that specifically for people don’t know much about Nu. I also made a point to say that the payment is done by the blockchain (not by human) and parking is done in one’s own wallet (not e.g. through a website).
btw I added the help link on parking to the post. @Cybnate, what you explained should be in that page. I seem to remember there is a video?
Please post a disclaimer saying it’s not a smart contract ponzi/pyramid like those funny stuff already built on ethereum… people at bitcointalk.org are becoming “BTC extremists” lately 
There is no shortage of high interest stuff. Some POS coins have like 100% minting “interest”, which in fact is just getting even with inflation. What separate Nubits parking from the rest is that it is done by a pegged currency. I didn’t want to explain too much in the post because a short, well-linked message is better received. … well a second thought maybe I should say a bit more to hammer in the difference?
The point is we don’t really want people to park at the longer periods. We want them to park for the first non-sero period we specify with this method. But because of the way premium is calculated, we specify longer period to form a flat per-park reward distribution.
I think only the 5.5 - 23 days should now be non-zero when we are still inexperienced about how people react to park rates, and about prolonged period of low NBT demand. We sould keep offering effective short terms and if the rate doesn’t go down we make the terms longer. i.e. after N weeks of rate being above x% continuously we start to offer N-week rates at x%.
I agree that we don’t want that, but my point is about meeting the market and that we may have to.
Speaking of market. Just for comparison. You can supply margin on Bitfinex and the current rate is 0.0769% for USD. That’s 23.8% after fees. That’s a big name, and it is a rate for fiat.
The dollar weighted average rate is: 0.05969% - or 18.5%.
What are the terms for those margin calls? e.g. 1 months?
Anywhere from 2 days to 30 days.
https://bfxdata.com/swapstats/usd
It is open market - like lending on polo.
Seeing an interesting turn in the market with the sell side lower than the buy side. https://alix.coinerella.com/charts/
Bitcoin broke through the 450 USD and traders are locking in their profits. This maybe the signal to lower the rates soon.
Current rate for supplying BTC is 1/10 of that, about 0.008. I guess it is because BTC is more liquid. Since we want people’s BTC to help our nbt/btc wall, the btc rate on bitfinex is more relevant.
Then if the btc rate is more important. I would consider polo’s rate @ 0.04%. Because a savvy investor goes to the best.
But the whole thing is confusing to me. Since we are dealing in virtual fiat.