Steemit Loan Update for 7/29 - Testing an example of using a steem account as loan collateral
First payment to loan contributors for loan collateralize by a steemit account.
Finding ourselves successfully testing a loan experiment where a group of users contributes to a loan to help another user in need who needs funding for something important while being managed by someone that all parties trust.
This is an evolution of a loan to help @mrwang fix his truck while allowing him to use his account as collateral with master key being held by @virtualgrowth during the time of the loan and sending loan payments from @mrwang's account from rewards of recent posts as a way to pay back a loan from author and curation rewards being earned from steem!
More information of this steemit loan may be found here: Loan Update Post for 7/21. Today we will be making the first loan payment back to the contributors.
@bycompoundfilms & @steemitafterdark share of 1.15 SBD each per agreement
Transfer 1.150 SBD to steemitafterdark payment sent by virtualgrowth
Transfer 1.150 SBD to bycompoundfilms payment sent by virtualgrowth
Initial Balances and Percentages (%)
| User | Loan (sbd) | % |
|---|---|---|
| @quinneaker | 1508 | 91.74% |
| @virtualgrowth | 93.613 | 5.69% |
| @patelincho | 20 | 1.22% |
| @mattclarke | 10 | 0.61% |
| @reedracer | 10 | 0.61% |
| @holoz0r | 2.222 | 0.14% |
Steem (Backed) Dollars (SBD) Balances & Payments
| User | Total (sbd) | Paid (sbd) | Balance (sbd) |
|---|---|---|---|
| @quinneaker | 715.274 | $71.83 | $643.44 |
| @virtualgrowth | 44.402 | $4.46 | $39.94 |
| @patelincho | 9.486 | $0.95 | $8.53 |
| @mattclarke | 4.743 | $0.48 | $4.27 |
| @reedracer | 4.743 | $0.48 | $4.27 |
| @holoz0r | 1.054 | $0.11 | $0.95 |
STEEM Balances & Payments
| User | Total (steem) | Paid (steem) | Balance (steem) |
|---|---|---|---|
| @quinneaker | 573.354 | 56.496 | 516.858 |
| @virtualgrowth | 35.592 | 3.507 | 32.085 |
| @patelincho | 7.604 | 0.749 | 6.855 |
| @mattclarke | 3.802 | 0.375 | 3.427 |
| @reedracer | 3.802 | 0.375 | 3.427 |
| @holoz0r | 0.845 | 0.083 | 0.762 |
Payments will continue from rewards earned by @mrwang's posts.
Recent Payments
1 minute ago Transfer 56.496 STEEM to quinneaker 1st loan payment
2 minutes ago Transfer 71.830 SBD to quinneaker 1st loan payment
9 minutes ago Receive 0.008 SBD from virtualgrowth difference to cover rounding
14 minutes ago Transfer 3.507 STEEM to virtualgrowth 1st loan payment
15 minutes ago Transfer 4.460 SBD to virtualgrowth 1st loan payment
15 minutes ago Transfer 0.749 STEEM to patelincho 1st loan payment
16 minutes ago Transfer 0.950 SBD to patelincho 1st loan payment
16 minutes ago Transfer 0.375 STEEM to mattclarke 1st loan payment
17 minutes ago Transfer 0.480 SBD to mattclarke 1st loan payment
17 minutes ago Transfer 0.375 STEEM to reedracer 1st loan payment
18 minutes ago Transfer 0.480 SBD to reedracer 1st loan payment
18 minutes ago Transfer 0.083 STEEM to holoz0r 1st loan payment
19 minutes ago Transfer 0.110 SBD to holoz0r 1st loan payment
Thank you for everyone bringing this idea into a reality as a way to help each other and use our new found cryptocurrency possibilities.
Please check out recent posts of users who support this project
Big Thank You to @quinneaker as the largest contributor. You may check out his blog/post to return the favor of his support.
Quinn's Quality Content Curation ~(~Q2C2~)~ Episode 12 Crypto Mania! Crypto Special During This Critical Time by @quinneaker
CircleJerk 101: Do Not Use These Hashtags... by @mrwang
OpenLedger at SmartMoney in Los Angeles by @virtualgrowth
Official contests announcement for Whaleshares and Beyondbit ! #3 by @patelincho
First Vehicle Specifically Designed for Steemit Whales? by @reedracer
Why you've seen so many votes from me lately. (Or seen a drop in the weight) by @holoz0r
Best,
This looks like a great idea. I am definitely interested in this should it come up again. My issue is that I don't keep much liquid Steem or SBD, powering up most of my liquid funds. Ill have to look at holding more liquid assets if this takes off.
Maybe we can further explore this idea if interested. May be even better in the future with possibility of smart contracts too.
That sounds like a good idea. I am not up to programming smart contracts but I would be happy to lend out SBD etc through a trusted party as you have done here
Yes @virtualgrowth smart contracts are the KEY for this really taking off!
Yes, I completely agree.
What a pleasant surprise to find money added to my wallet! Love this community and all those I meet.
I never would have guessed you could use a social media account as collateral to fix a truck. This post should go viral and make national news. It would be good for the world to see the good being done on steemit.
Hahahahaha yea.... yet WE DID IT!!!
Neither would have we!
Great post!
I really thing this is an awesome idea with so much potential.
I am happy to be a part of not only helping a fellow Steemian but to participate in an experiment which could have very beneficial potential for Steemit as a whole.
I will be interested to see what developments come from this.
SteemON!
How would I go about applying for such a funding opportunity of loan @virtualgrowth?
This is one of those beautiful initiatives that very few people know about on steemit.
Yes your right. Hopefully this project will get some more exposure.
Thanks for commenting and the encouragement.
WOW!!! This is absolutely fantastic :) Cheers to those who make this happen - I love you my Steemit Friends..SUNSHINE247
The idea sounds cool. I wish there was a simpler explanation or a video tutorial
This platform keeps surprising me!!