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8 hours ago, Mitty said:

In regard to reinvesting interest payments directly back into the lending amount(not having to wait the ~15days to re-invest it).

DS: Hi!  Yes, this is annoying — we will be enabling re-investing of interest earnings over the next few weeks

DS: Generally, over 80% of those who are using CredEarn are hodling well beyond the initial 6 month period, and re-enrolling, and we will plan to make it much easier for interest proceeds to be reinvested

DS: This will be rolled out in phases — we’ll start with new, and then we’ll be able to accommodate existing, but upon re-enrollment, it will be possible

:JC_doubleup:

I've been using Cred now for over a year as a passive income generator on some of my crypto holdings and a couple larger blocks of USD.  Only downside I've encountered is the USD interest dropped from 10% to 5% to try and push the UPUSD usage, which AFAIK is quite low if you look at upholds disclosed holdings (another perk that I like about Uphold tied into Cred, more transparency).  I'll eventually need to convert my USD to UPUSD to get back the other 5%, but otherwise I'm quite happy with the direction Cred has taken thus far.

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1 hour ago, Zedy44 said:

I'll eventually need to convert my USD to UPUSD to get back the other 5%,

I'd be tempted to dump it all into LBA for the 10% and the potential upside. MC is so small. But its a risk compared to holding USD.

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2 hours ago, Zedy44 said:

:JC_doubleup:

I've been using Cred now for over a year as a passive income generator on some of my crypto holdings and a couple larger blocks of USD.  Only downside I've encountered is the USD interest dropped from 10% to 5% to try and push the UPUSD usage, which AFAIK is quite low if you look at upholds disclosed holdings (another perk that I like about Uphold tied into Cred, more transparency).  I'll eventually need to convert my USD to UPUSD to get back the other 5%, but otherwise I'm quite happy with the direction Cred has taken thus far.

Great feedback! Thank you also @Mitty for keeping this thread up to date. I've yet to actually use Cred but I do hold LBA . I use Bitrue for interest earning purposes which I then allocate into other coins. They just released the ability to stake BTR to earn a higher rate so effectively doing the same as Cred with the LBA token.

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Mpolnet, if you have an uphold account i would advise testing the waters with cred. Their rates are top rate and you can risk as little as you want just to test them out. If we have a bull run and all are holding a lot of money i don't think it hurts to spread your risk in regard to lending platforms. And if you have already tested it and comfortable with the platform it will take away a lot of the worry at that time.

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3 hours ago, Mitty said:

I'd be tempted to dump it all into LBA for the 10% and the potential upside. MC is so small. But its a risk compared to holding USD.

Yeah I agree that might be the better way to go at this point.  I will have to see what the market looks like in a few months when my current term ends.

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Cred has released its wrap up of the second AMA. Quite a bit of good info there. Some i have already posted.

https://mycred.io/blog/february-ama-recap-top-10-highlights/

Hakernoon article regarding defi including cred.

https://hackernoon.com/defi-in-2020-an-overview-of-crypto-finance-platforms-8nl832pw

 

current price: $0.019

current CS: 638,523,897 (unchanged)

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Like the rest of the market LBA has taken a beating over the last few weeks. The Coronavirus  is having a major impact and it's only just starting. Stay safe and do not underestimate the seriousness of the issue, play your part and do what you must to limit the spread. It will save countless lives if everyone does what is being asked of them.

 

LBA dipped below 1c again briefly and has had another 25mil added to its circulating supply.

 

Dan Schatt put out a letter to reassure cred customers.

https://mycred.io/blog/crypto-market-covid-concerns/

" Cred is prepared for extreme situations like the coronavirus (COVID-19) outbreak, including how it pertains to the services we provide for our customers and extended community. Cred’s business procedures address extreme circumstances such as COVID-19 and the measures that are being rapidly implemented.

We are proud of Cred’s preparation and ability to operate the business soundly, regardless of the market direction."

 

It was stated on Creds telegram that all lending platforms allow the pay out of interest in XRP except uphold which only allows USD or LBA currently. 

 

Cred Partners with "Edge Wallet"

https://mycred.io/blog/cred-partners-blockchain-wallet-edge/

Another partner which is great. I do not know much about edge. If there are any forum members that have used edge or can comment on it that would be great.

 

Of note MakerDAO the largest(i think) defi lending/borrowing system ran into major issues with this latest round of volatility

"MakerDAO was undoubtedly the biggest loser on Thursday. An infrastructure error led to over $4 million being swooped up by a lurking bot-maker, leaving investors high and dry as their collateral was taken away. In response, the Maker community voted Friday to restructure certain risk measures."

Will this make people less likely to use these decentralised systems and push them toward more centralised options like Creds?

https://news.bitcoin.com/eth-price-dai-collateral-loans-makerdao/

 

The silver lining to the drastic drop is that for those of us that are being paid out in LBA we will be receiving a much larger(65%+) stack of LBA than we would of been expecting a week or so ago.

 

current price: $0.0120

current CS: 663,523,897 (25mil added)

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@Mitty did you receive a 1099-INT from Cred with your LBA payouts?  I received one because I take my payouts in USD for simplicity sake, but if Cred would provide a USD-translated 1099-INT for LBA payouts or a 1099-B I'd consider taking payouts in LBA going forward.

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Posted (edited)

https://www.youtube.com/watch?v=6RTtJ1747X4&feature=youtu.be

https://earn.mycred.io/dinwiddie

https://spencerdinwiddie.com/

Nice endorsement. This should help spread Creds programs/LBA awareness. Looks like there was a small bounce but has since dropped back. Any other time in the last 6 months this may have had more of an impact. Still forward progress.

 

current price: $0.0116

current CS: 663,523,897 

Edited by Mitty

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Fairly major announcement in regard to LBA  and the CredEarn program.

Cred is now offering daily compound interest. It still pays out at the end of a 6 month term. But the interest is calculated daily and goes back into the balance to earn more interest. If you are wanting to just set and forget for a few years then compound interest would be the way to go.  

https://mycred.io/blog/cred-daily-compound-interest/?utm_source=telegram&utm_medium=referral&utm_campaign=growth

Another new ann that was just announced as well is the partnership with Huobi wallet.

https://mycred.io/blog/huobi-wallet-announces-partnership-cred-lending-borrowing-services/

It looks like the XRP interest rate has dropped to 5% down from 6%. Not sure when this happened. But i think it was pretty recent.

Also Creds latest AMA wrap up is out.

https://mycred.io/blog/safety-and-security-during-times-of-uncertainty-recap/

The LBA price dropped as low as .73c at its lows a few days ago.

The April the 1st pay out in LBA was at a rate of .8c. Anyone being paid out in LBA is growing their LBA stack a lot more than was planned although overall their LBA stack is well down in value.  

current price: $0.008130

current CS: 663,523,897 (unchanged)

 

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