Make 1% a Month with the EFD Growth Fund!

[Nihilist]

Originally Posted by alh

Just one think I thought about.

This is from the Bank Info:
"EFD Savings account earns 1% interest every 30 days. Maximum savings balance: 500,000.00 EFD. There are no fees or limits on EFD transfers in the EFD bank, or to other members."

This could be read such that if you have exactly 500,000 EFD in your account, you will NOT get any interest, because the interest would put it above 500,000.

Do we _know_ how this works?
If not, you should limit the number of shares to 495000 or so, to make room for the interest.

Correct. we do not _know_ how this works exactly yet. nor do we know which day the interest is distributed for sure yet.

for now we are assuming it works like the weekly EFD member distributions and goes into the checking balance. If our assumptions are wrong we will then return the last 4950 shares our max shares will then be 495050 and we will loose 0.5 efd to max account balance "feature". - ; )

we probably should put those last 4950 shares on RESERVE until we know for sure how the interest distribution system works.

[alh]

I'm quite certain that the interest end up in the savings account from my experiments using it.

Could be different when you reach 500k though

[Nihilist]

Originally Posted by alh

I'm quite certain that the interest end up in the savings account from my experiments using it.

Could be different when you reach 500k though

this will need to be tested for sure. i guess we could ask 711 about it as well.

Edit: Alice could maybe give us more info on this as well. If you read this Alice and have any input on how this works please let us know.

first post updated with reserve for now.

now at ~80%, we might hit our goal before the close of today!

thanks everyone for your support so far.

[Dante aka Ghost]

i have 100 to add.
where do i put it?



nm i got lol.
id put more if i had it.
if i read right we are giving you efd ion return for "shares" which after a long enough time can be with drew for PED or and increased amoun of EFD greater than what i put in?

[-Herb-]

Just threw about 1400EFD in Nihilist direction

[Alien]

11k from me..

And a Hi to all other investors!

[Nihilist]

Originally Posted by Dante aka Ghost

if i read right we are giving you efd ion return for "shares" which after a long enough time can be with drew for PED or and increased amoun of EFD greater than what i put in?

You've almost got your head around it.

You are using your EFD to buy Shares. Shares will be used to raise EFD interest which will be sold/traded/converted to PED/Items in game.

The value of the shares will eventually have a value over 0 in game which can then be sold or traded.

You can withdraw support by cashing out your shares in game or by getting your EFD returned on the forum. the EFD value will never rise. only the ingame PED value will rise.

in pure speculation mode you could also sell your shares to another person for PED or EFD and ask me to transfer those shares to another persons name.

[Melbus]

I think we're near the 500k Goal

Just go and begin to grow it Nihilist !

And +rep to all shareholders too - as soon as i can spread more

[whodi]

hmmmm seems I am not able to +rep anymore :/
Will try again tomorrow

[-Herb-]

Just sent over another 150EFD..0.01% of the shares will be mine!