DonShop - ◈》commons

FNLonely 24/08/2024 14:55

Sup.

hello

welcome @Gandalf

welcome @Ivan

hey guys what’s going on

We opened a private bank for DonFuer citizens

21:46

And we also got the shop a discord, so we can be acknowledged internationally

just big and greedy

Welcome @Patthemat

22:29

@here please be sure to post your Minecraft Username in the Processing Chat

Welcome @Jonas

@a1fastyellowgto the Discord icon is not a transparent background

I know, it's still a temporary image

22:43

I messed it up

22:43

We have an automated secure ticket system for starting bank accounts, and a ticket system for issues or anything like that

Also, there is nothing about how withdrawal %'s will work on later deposits. Are you individually tracking how long a specific deposit has been in the system

I just check the date of the initial deposit

22:44

After 5 weeks it is free to make a withdrawal

22:45

It's all based on the age of the account more than anything else

What if I deposit 500k today and 200k in 3 weeks. On the 5th week, I withdraw 700k. This has fees associated with 200k then? (edited)

First, the account stops gaining interest after it meets or exceeds 500k, so it wouldn't make much sense to deposit more than that. Second, you would want to deposit ~47k with that in mind so that you make ~23k each week as passive income. Yes, you would lose some money on each withdrawal, however it's free money from the interest still

22:48

And third, even then it would be 4% fee on the withdrawal, which isn't too vad

a1fastyellowgto

First, the account stops gaining interest after it meets or exceeds 500k, so it wouldn't make much sense to deposit more than that. Second, you would want to deposit ~47k with that in mind so that you make ~23k each week as passive income. Yes, you would lose some money on each withdrawal, however it's free money from the interest still

I misread the announcement. Thought it said interest would only accrue on accounts over a certain amount, which made sense.

1

It accrues interest every Monday

22:50

Irregardless of age

22:51

If I were to start an account, it would be on a Sunday night. Employee payroll goes in right before the 5% interest too, so if you have an employee account, the compound interest is a serious bonus

a1fastyellowgto

It accrues interest every Monday

Is there a system to reinvest interest payments?

It automatically compounds

22:52

So if you deposit 1000, next week it will be 1045

22:52

The week after it would be 1092.025 and so forth

22:53

But 10k is the minimum, so pretend I used a bigger number

Employee accounts are from DonShop payments only then

Yes

22:53

The dividends may be automatically invested into an employee savings account

22:53

I forgot to add that they also don't have a withdrawal fee

22:53

I need to add that later

a1fastyellowgto

The dividends may be automatically invested into an employee savings account

Cool. i also wanted to mention that it's "the boss's shop"

Jonas you should open a bank account.

yeah, we need to test the ticket system more

23:03

XD

23:03

if only just to test the ticket system

It doesn't need testing.

Welcome @EasternPromise

Thanks

a1fastyellowgto

Welcome @EasternPromise

Sorry im just reading to make sure here

05:51

But when I sell stuff to the shop in terms of manufactured goods

05:51

Does it have to go into the employee account or can I just take it in full

EasternPromise

Does it have to go into the employee account or can I just take it in full

you choose where your dividend goes

a1fastyellowgto

you choose where your dividend goes

What?

05:56

No like

05:57

When I'm supplying the shop with armor and other things

05:57

Does it have to go into the bank account thing that you're making or can I just get paid

you can choose whichever one

Oh okay sweet

05:57

I just joined to see how the payment system worked

1

hello @a1fastyellowgto may i have 1 donshop

ye

lukent

hello @a1fastyellowgto may i have 1 donshop

a minimum deposit is 10k

07:30

XD

ello