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My bad, punishment was the incorrect word. Thing is, you can't compare DXS to a credit card. a) a credit card is usable (this can be argued about DXS, but facts are facts) b) credit cards charge interest. they do not charge a monthly account keeping fee, at least not where I am.
So instead of punishment, how about "forced fees are a way of DXS reprimanding people for not "choosing" to bring in fresh funds".
DXCredit and DXS are not the same thing. True DXS allows us to earn DXCredit on our portfollios, and a Credit Line is necessary if you want to remove funds from the system therefore it is "usable". The interest charged by Credit Card Companys must, by necessity cover their costs of accounting or they would not be in business for long. On my credit card if I use $500 of my Credit Line and if I pay it back before 30 days I am not charged interest on it. Same with DXCredit but I get a bonus. By using the system credit for 30 days just like a credit card the DXUser can pay back the withdrawn amount of credit but instead of it returning as credit (DXCredit) like with a credit card the fund type exchanges from DXCredit to DXGold and provides the advantage of increasing the amount of DXGold that is held as the DXUser's (input) asset base.
I can OutXchange that new DXGold to e-Gold for example and therefore I see nothing negative about this at all and certainly would not characterize it as a reprimand, but as a welcome bonus.
Any credit card company wouldn't make me pay when I have neither used nor been able to use the card. Perhaps there is another analogy.
When I first went into business I asked for and recievied a $100,000 line of credit. I most certainly had associated fees with it wether used or not. After all the bank had a potential $100,000 liability on its books.
And most of us HAVE been using our DXCredit to buy more digots so few if any have not been using their line of Credit.
DXCredit and DXS are not the same thing. True DXS allows us to earn DXCredit on our portfollios, and a Credit Line is necessary if you want to remove funds from the system therefore it is "usable".
Well, i have about $3000 in this credit line available, can you point me to a store where i can use that to upgrade my PC please?
It seems your definition of "usable" and mine are very different. Unless i can actually USE those funds like funds on a credit card, they're not even close to being the same.
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The interest charged by Credit Card Companys must, by necessity cover their costs of accounting or they would not be in business for long. On my credit card if I use $500 of my Credit Line and if I pay it back before 30 days I am not charged interest on it.
True, but does your Credit Card company also charge you a monthly fee just to have the card, even if you don't use it?
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Same with DXCredit but I get a bonus. By using the system credit for 30 days just like a credit card the DXUser can pay back the withdrawn amount of credit but instead of it returning as credit (DXCredit) like with a credit card the fund type exchanges from DXCredit to DXGold and provides the advantage of increasing the amount of DXGold that is held as the DXUser's (input) asset base.
Agreed, and in theory, this is fantastic. However they are a long long way from this being realistically "usable". Stores need to accept DXS for a start, not to mention it's still easier and more trustworthy to use a proper credit card. It's not good when a credit card is more attractive than DXS in it's current form.
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I can OutXchange that new DXGold to e-Gold for example and therefore I see nothing negative about this at all and certainly would not characterize it as a reprimand, but as a welcome bonus.
Ahh, this brings us back to the very first point. You will only be able to OutXchange, IF you pay your fees with fresh funds. Added to that, there is no guarantee that OutXchanges will in fact happen. So while it may be a welcome bonus in theory, it has to actually happen consistently, in order to actually be a welcome bonus in reality.
So for those who don't pay their fees with fresh funds, and who are not favoured with regards to OutXchanges, where is the bonus?
When I first went into business I asked for and recievied a $100,000 line of credit. I most certainly had associated fees with it wether used or not. After all the bank had a potential $100,000 liability on its books.
And most of us HAVE been using our DXCredit to buy more digots so few if any have not been using their line of Credit.
I put this to you...
If DXS were completely honest 3 years ago and told people that eventually there would be this line of credit balance, much like a credit card, how many do you honestly think would have jumped in and input funds into DXS?
If DXS were completely honest 3 years ago and told people that eventually there would be this line of credit balance, much like a credit card, how many do you honestly think would have jumped in and input funds into DXS?
I refer you to News Article 172. The DXCredit Balance is caused mainly by the portfollio and more specifically from the purchase and holding of Digots. I have an account which only holds Silver. No DXCredits are earned and no fees are due. My earnings however have been substantial with the rise of silver prices.
I have many friends with accounts that do not have a portfollio. Nobody forced us to have a portfollio.
News article 172 came out approx July last year... WELL after the majority of people joined DXS. In fact by July last year most people had already screwed their portfolios (for lack of a better word).
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I have many friends with accounts that do not have a portfollio. Nobody forced us to have a portfollio.
Indeed, but on the other side of the coin, DXS never told people way back when the majority of people were joining DXS that by having a portfolio they would eventually be in the position many currently are.
So...
While you did give a nice answer, you completely avoided my question.
News article 172 came out approx July last year... WELL after the majority of people joined DXS. In fact by July last year most people had already screwed their portfolios (for lack of a better word).
Indeed, but on the other side of the coin, DXS never told people way back when the majority of people were joining DXS that by having a portfolio they would eventually be in the position many currently are.
So...
While you did give a nice answer, you completely avoided my question.
Didn't you ever have to pay OA fees "way back when"? I know I did.
