I "OFFICIALLY" am now a bank - @bankofwelshie

So with one more push to actually get your attention, I have come up with what I think is a #steemit first.

Welcome to the @bankofwelshie...... Yes, that is actually a thing now.

So what's the deal and what makes @bankofwelshie different??

Maybe I should call it the "community bank of Welshie" because that's who I'm hoping to serve and help.

Go back and ready my first blog about the bank of Welshie:

https://steemit.com/steemsilvergold/@welshstacker/the-great-steemit-and-steemsilvergold-fiat-social-experiment

This idea sprung up as a tounge in cheeky experiment on how easy it is to get a currency circulating. Well, since all your support (NONE), it has made me rethink and actually come up with a better idea.

So what is a "WELSHIE"?

A Welshie is a paper currency backed by steem. 1 WELSHIE = 1 STEEM

HOW ARE WELSHIES CREATED?

As steem is deposited in the bank, then a Welshie is magiced in to existence and sent to the depositor.

What is the point of a "paper" WELSHIE when I can just send steem?

Originally, the Welshie was just meant to be a novelty item, used with in the #steemsilvergold community, but that didn't get any traction.

So, drumroll please......

Same design, same paper but totally different set up.

So what can the @bankofwelshie offer me?

A very novel idea, a bank that actually works for its depositors.

Think of it as an investment, upvote, dividend, service that costs nothing to use.

So why would I go out of my way to do this?

This is an easy one. I'm like a dog with a bone, once I get hold of an idea, I won't let it go. I WILL make this work. Plus I'm all for helping total strangers and community members.

• The bank will have 250sp delegated to it, by me, to start her up. This will be used to give out upvotes to her depositors.

• Every steem deposited, will get a WELSHIE created. Every time a WELSHIE is returned a steem is returned and that WELSHIE is destroyed.

• WELSHIES will be available for 1yr

• The Bank of Welshie will be open for 3 Yrs. At the end of 3yrs, WELSHIEs will be returned and all profits split equally between each Welshie owned.

??Profits - Yes profits/dividends are generated by daily blogging. The blogs will be used to advertise the @bankofwelshie, to give weekly stats etc....

The 50/50 split post payout will be used - SP will be used to increase the upvote rewards and the sbd/steem will be used to put in to the bank and act as dividends.

EXAMPLE

• Mr A deposits 5 steem, Mr B deposits 15 Steem and Mrs C deposits 30 steem to the @bankofwelshie.

Using autovote the 250SP will be used to give a daily upvote to the 3 of 10%, 30% and 60%. As the SP increases the voting % remains the same, but the value increases. As long as you hold the WELSHIE, you get an upvote.

After 3 yrs the bank has made an extra 50 steem through post payouts. The 3 people return all thier WELSHIES and get their steem returned plus a share of ALL the profits (50steem). Mr A gets an extra 5 steem, Mr B an extra 15 Steem and Mrs C gets an extra 30 steem.

Sounds complicated, but it's very simple.

The benefits to the @bankofwelshie -

Real world currency, whilst still utilising the rewards of steemit.

Long term investment in the #steem blockchain

A novelty item to be used to show potential investors in #steemit.

By accepting the "WELSHIE" in exchange for items, you'll get the benefits of upvotes and dividends (once proof of ownership has been shown to me).

Sorry I dragged on, but I tried to cover as much as possible.

Any other questions please ask.

THE COMMUNITY BANK OF WELSHIE IS NOW OPEN