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The Bank of Neoxian: Update, November 2019, APR: 6.25% by neoxian

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· @neoxian ·
$7.02
The Bank of Neoxian: Update, November 2019, APR: 6.25%
Hello all,

It's that magic time where I give the monthly report on my Bank (and things in general).

### APR: 6.25%

### Tribe

My Tribe remains active.  The City now exists in 3d space on a Minetest server:
https://www.neoxian.city/neoxian/@neoxian-city/there-be-treasure-in-thar

The Spi-Invest project has decided to invest in my tribe, with their new Spinvest-Neo initiative.
https://steemit.com/spinvest/@spinvest-neo/announcing-spinvest-neo-combining-neoxag-spinvest-securities
This has helped bolster the price very nicely lately.

Also, with the help of @eonwarped I have imposed a 20% neoxag tax to those posting on my tribe who do **not** use my app: neoxian.city.  Those who do use neoxian.city are not taxed.  The "tax" is burned (goes to `neoxianburn`)

### Shortened Steem powerdown time = Potential Threat to Bank.

There is talk of reducing the powerdown time of Steem from 13 weeks to a mere 4 weeks.  It's not 100% sure this is going happen, but it seems likely to happen, unfortunately.

I do not agree with this change.  There is no real need for it.  It will not moon the price.  Stupid tricks like this will boost the price of Steem.  We need actual innovation, not endless tweeking of dials.

I believe this change will hurt my bank and I will probably shut down the Bank if this change is made.

Taking accounts as collateral is the primary mechanism by which I secure 80% of my loans.  The steem power being locked up for 13 weeks is a key part of this.

I'm going to have to keep a very close eye on collateral accounts if they can be drained in just four weeks, it's already a huge hassle the way things are now.

Also it will reduce the demand for my loans.  Many people who were not willing to wait 13 weeks for their powerdown to happen might be willing to wait a mere 4 weeks (or less).

I see no need to keep running my bank in an increasing hostile environment.  It's not like I make that much money now.  Running this bank is a pretty big pain, with little rewards, and frequent defaults, so fuck it.  I'm willing to keep doing it with 13 weeks powerdowns, but at 4 weeks, that's too much.

If I do shutdown, obviously depositor money will be returned.  Anyway, we'll see what happens.  


### Depositor Report:


| Depositor        | Amount   | Currency | Monthly interest | New Amount |
|------------------|----------|----------|------------------|------------|
| jznsamuel        | 28.373   | sbd      | 0.147            | 28.520     |
| sevinwilson      | 85.119   | sbd      | 0.443            | 85.562     |
| sevinwilson      | 1362.802 | steem    | 7.665            | 1370.468   |
| ekavieka         | 29.508   | sbd      | 0.153            | 29.661     |
| runridefly       | 113.492  | steem    | 0.591            | 114.083    |
| legendchew       | 26.746   | sbd      | 0.139            | 26.885     |
| smitop           | 113.758  | steem    | 0.592            | 114.351    |
| darkflame        | 10.424   | steem    | 0.0542           | 10.478     |
| sames            | 27.734   | sbd      | 0.144            | 27.878     |
| theb0red1        | 15.555   | sbd      | 0.0810           | 15.636     |
| artgirl          | 45.302   | sbd      | 0.235            | 45.538     |
| loler555         | 32.671   | sbd      | 0.170            | 32.842     |
| khan.dayyanz     | 5.078    | steem    | 0.0264           | 5.104      |
| weedcash.rewards | 64       | neoxag   | 0.333            | 64.333     |
| anarchy999       | 62.978   | neoxag   | 0.328            | 63.306     |

* Numbers rounded for display purposes.

Best wishes and happy banking.

![](https://steemitimages.com/p/cyxkEVqiiLy2ofdgrJNxeZC3WCHPBwR7MjUDzY4kBNr81LhgXy51ADbKoi5Vyn3G7BokFetnbiYLRrAKuEkcMauaV2ExYDAhKQRsq9bfZaKM8wmbiUbtBeoJDz1JwDwLK5X?format=match&mode=fit)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 204 others
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@catscientist ·
Thank you for supporting @CatsMakeKittens by being a part of our community @neoxian.

Each CATS you purchase gets you daily upvotes from me @CatScientist as our community grows so do your rewards for being a member!
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/neoxian__the-bank-of-neoxian-update-november-2019-apr-6-25.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
👎  ,
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vote details (2)
@stokjockey ·
I Agree with you @neoxian and I don't think the Power down Time should be Shortened at All. I do thank you for all the Support that you have Shown to Me and #steemsilvergold Community. All The Best and Keep a Stiff Upper Lip !
👍  
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@dang007 ·
I agree with the short timeline, 4week or less, other coins dont lock people up for 4week, that is the reason why i m out of steem.
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@r1s2g3 ·
So about 20% tax, it is imposed to the Author rewards only or it on both Author and Curator rewards?
Look like a neat initiative to promote the tribe.
👍  
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@neoxian ·
Only the author awards, the curator award is not taxed.
👍  ,
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@lunaticpandora ·
What do you think the other proposal going around could do to your bank? The insta-power down with a 5% burn?
👍  
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@neoxian ·
That would also hurt my bank, but I do like the idea though.
👍  ,
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@goldcoin ·
$trdo
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@trendotoken ·
Congratulations @goldcoin, you successfuly trended the post shared by @neoxian!
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---
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@blazing ·
Great growth keep it up :)
👍  
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@whatamidoing ·
I leave for a few months...come back and you have become a city?

Posted using [Partiko iOS](https://partiko.app/referral/whatamidoing)
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@neoxian ·
I am now an entire city.
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@trendotoken ·
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---
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