discussion Banking Guide

[Axois]

TLDR:

• You have to deposit funds into the bank to make interest
• You have to click the collect interest button to receive your interest
• The more you have, the more you make

I posted this on the + forums but it occurred to me that it would be helpful for those who can't access that yet to be able to see it.

I deposited yesterday and collected interest today and this is my recommendations on how to use the bank. If you are trying to gain coins I would strongly recommend using it as compounding interest will add up with time. Please note your milage will vary depending on the amount you have to work with. However this works the same as the real world. The more you have the more you earn.

Spoiler: Open Your Bank

You must be registered to see attachments

Spoiler: Make A Deposit

You must be registered to see attachments

So basically, you deposit funds, wait 24h and then click collect. The interest is then added to your bank instead of your wallet. Which I like as this leads to compounding interest, without out having to deposit funds unless you want to. From now on I will probably also add my wallet funds after collecting interest to further increase this. Please note that this should be done only after you collect interest instead of before as it will reset the interest clock.

Assuming you reinvest and collect every day without adding more on top from your post and received likes:

30 Days:

Start with 100 AC end with 181​

Start with 1,000 AC end with 1,811​

Start with 10,000 AC end with 18,113​

60 Days:

Start with 100 AC end with 328​

Start with 1,000 AC end with 3,281​

Start with 10,000 AC end with 32,810​

However adding coins on top every day really changes things:

30 Days:

Start with 100 AC, add 100 every day on top of interest, end with 4,237​

Start with 1,000 AC, add 500 every day on top of interest, end with 22,095​

60 Days:

Start with 100 AC, add 100 every day on top of interest, end with 11,733​

Start with 1,000 AC, add 500 every day on top of interest, end with 60,306​

After a certain point you can earn quite a bit per day...

100,000 = 2,000 per day.
500,000 = 10,000 per day.
1,000,000 = 20,000 per day.

 

[Republican Bear]

Another good guide thanks but you wont earn a lot of interest if you don't put at least a few thousand coins in at one time.

 

[Fauxcest]

Man I can't see the images, it says no permission

 

[Axois]

Man I can't see the images, it says no permission

Sorry about that. Should be fixed now.

 

[Danv]

essentially you need 100 days just to get back what you put and only then you will start making profit
it really don't seems to worth it, maybe if you put something like 10k+? but then again - you already have 10k+
meh

 

[Underlord]

Been saying is if someone can make a collective fund into one user it would beat the bank system in the website but if that happens i bet new rules would occur or maybe hilarious scammer drama

 

[h71830]

Shame that 1% interest rate means it is only useful for people who either farmed large amounts in early days of the system or just bought coins

 

[Axois]

essentially you need 100 days just to get back what you put and only then you will start making profit
it really don't seems to worth it, maybe if you put something like 10k+? but then again - you already have 10k+
meh

You aren't making it back since you didn't lose it but maybe you didn't mean it that way.

That being said, as I mentioned this works better with larger funds being in there. It would also potentially help someone that was truly unwilling to post to get their access. It would take a rather long time though.

Perhaps the interest rate will be adjusted in time.

 

[Underlord]

So with your current amount in more or less 4-5 years you can buy the 999,999,999,999 LC mod role lol

 

[thatoneuser]

So with your current amount in more or less 4-5 years you can buy the 999,999,999,999 LC mod role lol

You must be registered to see attachments

Better than nothing my friend

 

[Axois]

Nah, I only have that much because I'm holding it for our group to buy the banner. It's just taking a while to get there.

 

[burner4]

Appreciate the info, will give it a try one I've collected enough coins for +rank

 

[ljonah]

Short term I feel like this system is getting very bloated. But it'll be interesting to see how it evolved if at all.

 

[Axois]

Appreciate the info, will give it a try one I've collected enough coins for +rank

You're welcome and good luck!

 

[Danv]

is there any penalty or restriction to withdrawing everything? basically - is investing competently free and you should always do it with any amount?

 

[Axois]

is there any penalty or restriction to withdrawing everything? basically - is investing competently free and you should always do it with any amount?

No penalty. The only restriction would be you'd loose your interest if you pulled it out early.

And yes, my thought is you should at any amount as it can only help. Might not be much but it is something.

 

[Underlord]

is there any penalty or restriction to withdrawing everything? basically - is investing competently free and you should always do it with any amount?

More in the bank is currently optimal since there is no limit. With 100 LC in the bank you will be a millionaire in 787 days with just log in and interest.

 

[Danv]

oh fine, but if Kavinsky runaway to Mexico with my coins - i'm blaming you guys

 

[Axois]

The starting amount really makes a difference.

Assuming you reinvest every day and don't add any on top from posting and so forth:

30 Days:
Start with 100 LC end with 134
Start with 1,000 LC end with 1,347
Start with 10,000 LC end with 13,478

60 Days:
Start with 100 LC end with 181
Start with 1,000 LC end with 1,816
Start with 10,000 LC end with 18,166

 

[Underlord]

If people want to compute their potential amount after certain days here, you can use python 3 and just paste it in

You must be registered to see links

:

principal = 100
daily_interest_rate = 0.01
additional_amount = 2
desired_days = 30

balance = principal
days = 0

while days < desired_days:
balance = balance * (1 + daily_interest_rate) + additional_amount
days += 1

balance = int(balance) # Convert balance to an integer

print("Expected result after", desired_days, "days:")
print("Balance:", balance)

Edit: make sure it looks like this to work balance and days indented might error without it

You must be registered to see attachments