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

[SkyDrake]

That's assuming the massive bank returns get spread evenly. A new user joining in still has to build up a sufficient LC base to earn access to members+, and any banked coins earning interest can't be spent.

If prices are increased because of the amount of coins the wealthiest are able to accumulate then members+ access will be reduced to new users begging the bigger users to donate them access.

that is unlikely to happen. the original reason behind the LC was to keep un-desirables out of the Game+ section because they kept reporting this site contents to the file hosting platforms.

 

[capt21]

It doesn't seem to work, at least on my side.

 

[LadyCeleste]

There probably has to be 24 hours of inactivity before it's eligible to start auto-collecting, given the previous limitation.

I've been collecting interest for nearly two weeks and it's only made me as much as four or five comments would have, I think, so I don't think this is a drastic move.

 

[1eyed1]

Maybe the 24 hour interest restriction is still in place? Did anybody not interact with the bank in the last 24 hours to confirm if it is that or if nobody is getting interest.

 

[1eyed1]

There probably has to be 24 hours of inactivity before it's eligible to start auto-collecting, given the previous limitation.

I've been collecting interest for nearly two weeks and it's only made me as much as four or five comments would have, I think, so I don't think this is a drastic move.

I think that is a bit of a problem tho. If you have to wait 24 hours before collecting and it is based on that number then you just lose a couple seconds/minutes off the interest collection. But if it is tethered to an objective time then every time you interact with the bank you skip that entire 24 hour period for interest.

Either it needs to be to be set to a standard time OR it needs the 24 hour wait, not both.

 

[Degen Man]

Maybe the 24 hour interest restriction is still in place? Did anybody not interact with the bank in the last 24 hours to confirm if it is that or if nobody is getting interest.

I was over the 24 hour mark when it was supposed to auto-collect but it still didn't. So it has to be something gone wrong. Let's wait for a notification or a reply here from someone in the admin team.

 

[LadyCeleste]

I was over the 24 hour mark when it was supposed to auto-collect but it still didn't. So it has to be something gone wrong. Let's wait for a notification or a reply here from someone in the admin team.

Ah, I guess I'm wrong then

 

[patinhas]

It is hard for me to see signs of "inflation" in LC currency. You do understand that LC are not convertible, and therefore can only be expended in the regulated transations, mostrly User -> Site, and users don't SELL things to users users denominated in LC. Therefore, there is no secondary inflation driver (since what I want is more expensive now, I am going to sell things for more). What mecanisms could you see to generate real inflation (rather than just Monetary Mass increase)?

 

[1eyed1]

It is hard for me to see signs of "inflation" in LC currency. You do understand that LC are not convertible, and therefore can only be expended in the regulated transations, mostrly User -> Site, and users don't SELL things to users users denominated in LC. Therefore, there is no secondary inflation driver (since what I want is more expensive now, I am going to sell things for more). What mecanisms could you see to generate real inflation (rather than just Monetary Mass increase)?

Maybe allow users to gamble against each other instead of just against the house in the casino?

 

[SkyDrake]

It is hard for me to see signs of "inflation" in LC currency. You do understand that LC are not convertible, and therefore can only be expended in the regulated transations, mostrly User -> Site, and users don't SELL things to users users denominated in LC. Therefore, there is no secondary inflation driver (since what I want is more expensive now, I am going to sell things for more). What mecanisms could you see to generate real inflation (rather than just Monetary Mass increase)?

have you seen the market place by any chance

MarketPlace

 

[User_89876]

What mecanisms could you see to generate real inflation (rather than just Monetary Mass increase)?

Isn't that enough? Money volume increases, looses value, goods' prices increase accordingly? I'm no expert, though

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[patinhas]

have you seen the market place by any chance

MarketPlace

No, I hadn't seen, and judging by the number of postings there, most LC users haven't either. It looks quite iliquid, and as such I would say not a good inflation driver.

 

[patinhas]

Not really, this requires that the transactions are at least partially influenced by the buyers ability to purchase (or that the currency is convertible/liquid). In most of the purchases with LC currency we don't have a "free market", we have a "state monopoly provider of goods" (the site selling the titles). Therefore, it does not follow that increase in MM necessarily means price inflation directly.

 

[User_89876]

Not really, this requires that the transactions are at least partially influenced by the buyers ability to purchase (or that the currency is convertible/liquid). In most of the purchases with LC currency we don't have a "free market", we have a "state monopoly provider of goods" (the site selling the titles). Therefore, it does not follow that increase in MM necessarily means price inflation directly.

The things you learn on LewdCorner ...

 

[User_52430]

IF YOU DON'T KNOW ALREADY, YOU CAN PUT ALL OF YOUR LC IN THE "BANK"
IT'S CURRENTLY AT A BOOSTED 2% (from 1%) DAILY COMPOUNDING INTEREST RATE
ALSO UNANNOUNCED UPDATE, BUT IT AUTO COLLECTS AT MIDNIGHT OF TIMEZONE UTC-8

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Although it may not seem like a lot if you only have 100 coins since you will only get 2 coins the first few days, but if you keep depositing into it you will slowly start to gain tons.
For example instead of purchasing Prestige 1 as soon as you have enough LC, if you wait 1 month and save up the 2500 LC in your bank you will earn 2120 free LC.

If you are still short on LC I would recommend trying to keep slowly farming some more, but once you hit your goal for whatever role you wanted to purchase, it may be wiser to just keep farming and letting the interest accumulate.
The LC feature is still fairly new so I would not be surprised if this feature gets heavily changed or outright removed so use it while you can.
To understand how broken this is once a single user puts 100,000 LC in the bank they will generate another 85,000 LC the first month and of course one more month of saving would earn another 150,000. This would in all honesty make it so the 750 LC to get member+ look like nothing as a single rich user could ruin the entire "market" and damn near everyone could buy Prestige 1 and 2 and the entire site would light up like a rainbow with all the neon profiles.

Then be the government and put an increasing tax over gains. Tax can reach to a point that collecting interest become meaningless.

Btw, this is directed to LC mods and not to you.

 

[Lurkabowa]

The 2% increase is a welcomed change. Hope the auto collect feature gets fixed as its quite a welcomed improvement too…

 

[dawa]

Okay, here's an idea.

Member = 2% per day
Prestige1 = 5% per day
Prestige2 = 10% per day
Prestige3 = 15% per day
Prestige4 = 20% per day

prestige4 long way to go

 

[Runescape771]

I didn't read the popup message either. You have to take it manually and the timer resets every time you deposit it

 

[MattShizzle]

prestige4 long way to go

What is there to buy with them after prestige 4?

 

[1eyed1]

What is there to buy with them after prestige 4?

You can gamble them away like a degen, or just flaunt your wealth to prove superiority over the poors.