The Bank of Neoxian: November 2018 update, APR 6.25%
Hello all, it's time for my monthly Bank update. Phew, it's been another rough month. Not necesarily all bad, but plenty of bad to go around.
Steem Inc and @ned flip me the finger:
The lovely folks at Steem Inc returned an account to a scammer with no regard to my written and public contracts. Described here:
https://steemit.com/dead/@neoxian/steem-inc-responded-they-decided-to-assist-the-scammer-in-robbing-me-by-refusing-to-return-the-account-to-me
This tosses quite a monkey wrench into how my bank works, and I was forced to increase my requirements for loans with Steem account collateral:
https://steemit.com/bank/@neoxian/updated-loan-requirements
And also resulted in this:
The Bank is now active in the Whaleshares platform and takes Whaleshares accounts as collateral
Because Whaleshares doesn't have account recovery, it is much safer for me to make loans with whaleshares accounts as collateral, and I've already made a handful of such loans.
Hey @ned, Whaleshares is a much better loan platform
I was actually happy to hear that poor Steem Inc had to lay off 70% of their employees. Now maybe it will take longer for them to recover accounts back to scammers. The sad part is that it would be good for my bank if they went out of business, go figure huh.
The Bear market
The bear market is been tough for everyone. Certainly my clients with loans in USD form are having a harder time paying me back. It's not all bad though, a few smart clients of mine with loans in Steem form have taken advantage of these cheap prices to pay off their loans extra fast. So that's nice.
The bear market hasn't stopped me from doing business (yet).
I'm still just as busy as ever.
Surprisingly, in spite of it all, I'm still making lots of loans and have only had to turn a few people away.
Apr remains at 6.25
Depositor report:
| Depositor | Amount | Currency | Monthly Interest | New Amount |
|---|---|---|---|---|
| jznsamuel | 26.658 | sbd | 0.138 | 26.797 |
| sevinwilson | 79.975 | sbd | 0.416 | 80.391 |
| ekavieka | 27.724 | sbd | 0.144 | 27.869 |
| runridefly | 106.633 | steem | 0.555 | 107.189 |
| legendchew | 25.130 | sbd | 0.130 | 25.261 |
| artgirl | 46.820 | sbd | 0.243 | 47.064 |
- Numbers rounded for display purposes
Well that's it for now, until next month and happy banking.
@neoxian,
Congratz and i think I should look at this Whaleshare platform! it's nice to see the bank keep 6.25% APR in this bear market as well!
Cheers~
Thanks for the update!
Posted using Partiko Android
happy banking sir❤️
Happy Banking @neoxian 🙏 I intend to become a depositor in January 💪 Excited to support your bank in any way I can. Thank you as always for Being YOU! ✨✨✨
Thank you for your continued support of SteemSilverGold
How much interest you take on average?
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I see that all of the depositor rates are different, is that something you negotiate?