discussion LC COIN PSA: BANK INTEREST IS AT 2% ---- (YOU MUST MANUALLY COLLECT DAILY)

[e6mill]

Acts like it is. I didn't check the math. Transaction log looks OK.

 

[patinhas]

I see it now in the transaction logs (it didn't appear yesterday, or I just looked in the wrong place). I will just assume it is working then. Thanks for the reply.

 

[User_101810]

Works for me

 

[LadyCeleste]

I used it, it added the correct amount (just 2 coins) to the amount I had in there when I clicked it.

 

[Anon1990]

Yes , I can confirm it works for me. However, you have to collect your interest daily for most value. And be warned, deposit or withdraw any points reset the 24 hour countdown for the interest.

 

[Anon1990]

Also... the interest rate is by 1% per day. So you have to deposit at least 100 LC go get 1 LC interest.

 

[Chujcieobchodzi]

it works, 1% is small but not nothing. Better to have coins in the bank making the 1% than them sitting in the wallet and doing nothing.

 

[akka2020]

Just figured out it will take me about 2 years collecting that 1% daily
Ah well, someday i will get there

 

[Anon1990]

Just figured out it will take me about 2 years collecting that 1% daily
Ah well, someday i will get there

Are you sure about that? Even with the compound interest effect?

 

[kustze]

i hope it works

 

[medi0]

Works

 

[LadyCeleste]

What I want to know is does it round up or round down? If you have 150 coins in there and you get 1%, do you get 1 or 2?

 

[Earlybird]

it works, 1% is small but not nothing. Better to have coins in the bank making the 1% than them sitting in the wallet and doing nothing.

1% daily is massive for interest. I think you are under estimating it right now.

 

[ErzuzB]

Everything works as intended, keep in mind that only full values will be shown, so if you earned 2.5 coins, it will be shown as 3 erarned coins.

What I want to know is does it round up or round down? If you have 150 coins in there and you get 1%, do you get 1 or 2?

The displayed numbers are rounded, not the real numbers. So with 150 it will show 152 after the collecting, but you'll have 151.5.

It you want to see the real numbers, try to withdraw more than you have. An error message will show the decimal numbers.

 

[Azkosel]

It does work, it's just inconsistent to where it pays out. For some It pays back into the bank, for others it pays out to the wallet.

 

[LadyCeleste]

Ah, okay

 

[ErzuzB]

It does work, it's just inconsistent to where it pays out. For some It pays back into the bank, for others it pays out to the wallet.

Good to know, I assumed it always goes into the bank.

 

[Chujcieobchodzi]

1% daily is massive for interest. I think you are under estimating it right now.

its massive if you put a lot in the bank. If you put 100 coins its 1 coin daily, which is small but atleast its something.

 

[patinhas]

1% daily is massive for interest. I think you are under estimating it right now.

It is massive, but only after you have enough coins so that the rounding down/truncation does not matter much. If there was no rounding down, it would amount to getting 37 times your initial amount after a year. And if you have over 10000 credits, you would get that or similar. However, if you start from low amounts, most gains would be cut due to truncation: e.g., lets say you start with 100 credits, it will take you 100 days to double, while with 10000 credits you would double in much less time (about 70 days). And if you have less than 100 credits, you get no interest at all.

 

[patinhas]

It is massive, but only after you have enough coins so that the rounding down/truncation does not matter much. If there was no rounding down, it would amount to getting 37 times your initial amount after a year. And if you have over 10000 credits, you would get that or similar. However, if you start from low amounts, most gains would be cut due to truncation: e.g., lets say you start with 100 credits, it will take you 100 days to double, while with 10000 credits you would double in much less time (about 70 days). And if you have less than 100 credits, you get no interest at all.

And of course you must take into account that this is not "passive income", since you need to go to the bank everyday precisely at the right time to maximize the income.