To increase the value of it, that would explain the whole point of the coin to me. If not, i am guessing that they are just eventually dumped on the markets by the exchance or whomever is hodling them.
Can i see an overview of my termdeposits somewhere?
edit: found it myself with help of the trollbox, it is in your account overview, just under karma and market items, or click here to go there directly: https://www.cryptopia.co.nz/TermDepositStatus
Im mining from europe and experiment bad conection with cryptopia pool, but already i wanna dig some DoTs so i start to reasearch a good DOT pool for europe and find this one, its multipool and multicoin so you can dig more profitable coin automati sell and buy the coin you wanna dig o just dig it all the time
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I had an article written about DOT and published it on steemit.com, It was written by a 16 yearold on fiverr.com, I have it posted here:
I'm thinking about having another article written about Cryptopia, If anyone is intrested in getting involved let me know.
What are DOT Term Deposits? A DOT Term Deposit is a DOT investment held by Cryptopia for an agreed rate of interest over a fixed amount of time known as a term.
How does a DOT Term Deposit work? Deposited DOT is cold walleted by Cryptopia for the term and the interest rate is guaranteed not to change for that term, the DOT and accrued interest is then paid out at the end of the term.
What are the terms and interest rates? 3 months at 0.5%, 6 months at 1.0% and 12 months at 1.5%. For functionality's sake a month in this context is considered to be 30 days, making a 3 month term 90 days, a 6 month term 180 days, and a 12 month term 360 days.
How often is interest accrued? Once a month based on the deposit age.
Can I break the term early? Yes you can break the term at any time for the full deposit, but any accrued interest will be forfeit.
Where does the interest come from? Cryptopia pays this interest from our own stockpiled supply of DOT.
What do you use my term deposit for, why is it cold walleted? We do not use your term deposit for anything, the DOT and the accrued interest will remain cold walleted until the end of the term deposit. The term deposit is cold walleted for transparency, the entire term deposit happens on the DOT blockchain. Because the DOT is not actively being used it enables us to have the term deposit along with each accrual of interest to be sent to a cold walleted address visible and transparent at all times.
So why are you offering term deposits if you're not going to use my DOT? There are other benefits to providing this service, we expect this to provide more incentive to both mine and buy DOT as well as providing more market stability with large amounts of DOT stored off-market. A more stable DOT market should allow us to better price the services we provide in DOT.
Isn't this basically PoS? No, PoS is retarded.
But seriously, is this PoS? No, PoS is a network layer creation of coins, we are not creating any new DOT we are simply paying the interest out of our own pockets.
Is there a minimum deposit? Yes, 100,000 DOT for 3 months, 500,000 DOT for 6 months and 1,000,000 DOT for 12 months.
So how does it work? Cryptopia has generated a cold DOT address for each Term Deposit offered. Two initialisation transactions have been sent to each of the cold DOT addresses; the first representing the interest rate, and the second representing the term in months. The DOT for your Term Deposit will then be withdrawn from your Cryptopia account to the appropriate cold DOT address. Then every 30 days interest will be paid to the cold DOT address. At the end of the term the original deposit plus all accrued interest is deposited back to your Cryptopia account, or if the term is broken early the original deposit is deposited back to your Cryptopia account without any interest.
So if you deposited 1,000,000 DOT for 12 months:
Cryptopia withdraws your 1,000,000 DOT to the cold address.Cryptopia sends 15,000 DOT interest to the cold address at the end of month 1, new total: 1,015,000 DOT.Cryptopia sends 15,225 DOT interest to the cold address at the end of month 2, new total: 1,030,225 DOT.Cryptopia sends 15,453.375 DOT interest to the cold address at the end of month 3, new total: 1,045,678.375 DOT.Cryptopia sends 15,685.17562 DOT interest to the cold address at the end of month 4, new total: 1,061,363.551 DOT.Cryptopia sends 15,920.45326 DOT interest to the cold address at the end of month 5, new total: 1,077,284.004 DOT.Cryptopia sends 16,159.26006 DOT interest to the cold address at the end of month 6, new total: 1,093,443.264 DOT.Cryptopia sends 16,401.64896 DOT interest to the cold address at the end of month 7, new total: 1,109,844.913 DOT.Cryptopia sends 16,647.67369 DOT interest to the cold address at the end of month 8, new total: 1,126,492.587 DOT.Cryptopia sends 16,897.3888 DOT interest to the cold address at the end of month 9, new total: 1,143,389.975 DOT.Cryptopia sends 17,150.84963 DOT interest to the cold address at the end of month 10, new total: 1,160,540.825 DOT.Cryptopia sends 17,408.11238 DOT interest to the cold address at the end of month 11, new total: 1,177,948.937 DOT.Cryptopia sends 17,669.23406 DOT interest to the cold address at the end of month 12, new total: 1,195,618.171 DOT.Cryptopia deposits 1,195,618.171 from the cold address to your Cryptopia address, total interest earned: 195,618.171 DOT
Why does this all occur on the blockchain instead of internally? For transparency, by simply inspecting the blockchain you can verify that your DOT Term Deposit remains unspent in the cold wallet and that the correct interest is being credited each month.
How do I know you have enough DOT to cover the interest payments?
We have pre-emptively cold walleted a large portion of DOT into an address that all interest payments will be made from, so not only can you verify that your Term Deposit is being credited the correct amount of DOT but also that we have enough DOT available to cover the entirety of your Term Deposit's interest payments.
So what are the addresses being used? Where can I see the reserved interest?
The 90 day 0.5% address is , the 180 day 1.0% address is , the 360 day 1.5% address is and the reserved interest address is
Good luck with giving up smoking.
I used to be good at giving up smoking and I gave up all the time but what I wish I'd known is the human addiction chain is only three days long so if you can put it off for three days you've broken the physical addiction and the rest is just in your head.