Post
Topic
Board Announcements (Altcoins)
Re: [SPC][PoF] SaveCoin | Proof of Fund Coin | 64% Interest Annually / 0.137% Daily
by
tuvokcoin
on 16/06/2014, 16:27:01 UTC
Those are not new freshly printed coins for the interest, right?

Where can I find more info on ‘Why this interest will not dry out one day, if it is coming from some fund? ‘


https://bitcointalk.org/index.php?topic=570526.msg6545368#msg6545368

From the Savecoin FAQ http://savecoin.co/?page_id=61

 
How is it possible to be paid interest? Isn’t that just mining?

Interest payments are made from an allocated amount of SaveCoin that have pre-mined prior to public release of the SaveCoin software. This amount is 20 million SaveCoin of which 19 million will be used to pay interest which will never be available to the public and 1 million will be kept aside for use on exchanges to promote growth and stability of SaveCoin. Interest payments are not the same as mining. Mining brings new SaveCoins in to existence by using computing power meanwhile interest payments are made from allocated coins that will be paid only if you have a balance in your wallet. Interest payments do not require you to use any computer power at all and do not need you to keep your SaveCoin wallet software running as interest payments will be made regardless.

cheers.