Quote:
Originally Posted by The Nightbird
Which IRL bank says to you "if you deposit now, your next interest earning date gets moved back 30days"? I have a feeling that bank wouldn't get many customers 
Since EFDs can only be spent in EF, there is no real purpose anyways is there? My only motivation was to make it simpler as there is no way of exploiting it. If there was ONLY ONE bank IRL, that didn't do loans or investment, and yet could still give out an interest rate, it wouldn't make any difference to them if you deposited the second before the interest is given out since they don't have any use for it anyways. It's an impossible system as it is, no need to try it make it seem more realistic imo. |
I disagree in about 10 different ways. What you are suggesting is that members deposit EFDs, withdraw them, then redeposit right before the interest maturity date. If this were possible, there would be a MASSIVE increase in the number of EFDs in circulation. It would be the same as giving 1% interest per minute.
Please do a search on the concepts "simple interest" and "compounded interest" and you will hopefully understand things more clearly.
The EFD bank system uses simple database entries to calculate interest. If multiple deposits were allowed, the system would have to keep a separate timestamp for each deposit, in order to award the 1% interest per week properly. This would result in much more work in the database, and is not really the main priority of
EF.
I try to introduce something fun and interesting (pun intended) for
EF members, and all you seem to do is complain and say things to the effect of "it's not good enough"?
