On Wed, 2008-10-22 at 12:11 -0600, Ian Kelly wrote:
> On Wed, Oct 22, 2008 at 11:57 AM, Taral <[EMAIL PROTECTED]> wrote:
> > On Wed, Oct 22, 2008 at 10:41 AM, Ian Kelly <[EMAIL PROTECTED]> wrote:
> >> Er, I disapprove of this. It occurs to me that this would create even
> >> more incentive to deposit new coins in the RBoA.
> >
> > Oh, wait. No, it creates less incentive to deposit coins. You get less
> > chits!
>
> I mean that it creates incentive to deposit coins now. Suppose
> someone deposits 200 coins before the motion passes, and gets 2000
> chits, bringing the total number of chits to (let's suppose) 10000 at
> the time the motion passes. Then they get 40 of their coins back,
> plus 20% of the rest of the coins in the bank (currently over 200, so
> figure an additional 40 coins), plus they still have their 2000 chits
> to withdraw other RBoA assets. So for 120 coins they wind up with
> 2000 chits instead of just 1200 at the current exaggerated rate.
>
I'd also like to point out that the current exaggerated rate is quite
possibly correct. The PBA's designed to adjust exchange rates
automatically, and I think it'll automatically adjust so that a Coin is
worth 10 Chits if people withdraw and deposit using the best strategy.
--
ais523
