Steem Loan Experiment - 7th and last payment from mrwang
Today the 7th and last loan payment is paid back to loan contributors that helped @mrwang
Thank you to everyone that made this loan experiment successfully possible!
This is a thank you video to everyone who participated in the project and the steemit community for continued support. ~ @mrwang
Last payment from @mrwang to close out this Steem Loan Experiment
Ending Account Details
These will be noted in a summary of the overall Steem loan experiment.
Ending STEEM POWER of 1,952.207 STEEM
Estimated Account Value of $2,384.06
Steem (Backed) Dollars (SBD) Balances & Payments
| User | Total (sbd) | Previous Balance | Paid (sbd) | Balance (sbd) |
|---|---|---|---|---|
| @quinneaker | 715.274 | 95.231 | 95.231 | 0 |
| @virtualgrowth | 44.402 | 5.912 | 5.912 | 0 |
| @patelincho | 9.486 | 1.262 | 1.262 | 0 |
| @konelectric | 2.371 | 0.435 | 0.435 | 0 |
| @mattclarke | 4.743 | 0.632 | 0.632 | 0 |
| @reedracer | 4.743 | 0.632 | 0.632 | 0 |
| @holoz0r | 1.054 | 0.141 | 0.141 | 0 |
STEEM Balances & Payments
| User | Total (steem) | Previous Balance | Paid (steem) | Balance (steem) |
|---|---|---|---|---|
| @quinneaker | 573.354 | 78.1 | 78.1 | 0 |
| @virtualgrowth | 35.592 | 6.794 | 6.794 | 0 |
| @patelincho | 7.604 | 0.049 | 0.049 | 0 |
| @mattclarke | 3.802 | 0.025 | 0.025 | 0 |
| @reedracer | 3.802 | 0.025 | 0.025 | 0 |
| @konelectric | 1.901 | 0.269 | 0.269 | 0 |
| @holoz0r | 0.845 | 0.005 | 0.005 | 0 |
Last Payments
3 minutes ago Transfer 6.794 STEEM to virtualgrowth 6th and last loan payment
4 minutes ago Transfer 5.912 SBD to virtualgrowth 6th and last loan payment
4 minutes ago Transfer 0.025 STEEM to reedracer 6th and last loan payment
5 minutes ago Transfer 0.632 SBD to reedracer 6th and last loan payment
5 minutes ago Transfer 0.025 STEEM to mattclarke 6th and last loan payment
6 minutes ago Transfer 0.632 SBD to mattclarke 6th and last loan payment
11 minutes ago Transfer 0.049 STEEM to patelincho 6th and last loan payment
12 minutes ago Transfer 1.262 SBD to patelincho 6th and last loan payment
12 minutes ago Transfer 0.269 STEEM to konelectric 6th and last loan payment
14 minutes ago Transfer 0.435 SBD to konelectric 6th and last loan payment
15 minutes ago Transfer 0.005 STEEM to holoz0r 6th and last loan payment
16 minutes ago Transfer 0.141 SBD to holoz0r 6th and last loan payment
16 minutes ago Transfer 95.231 SBD to quinneaker 6th and last loan payment
17 minutes ago Transfer 78.100 STEEM to quinneaker 6th and last loan payment
37 minutes ago Transfer 74.000 STEEM to lilwallay Excess Steem preloan pymts
Note: An amount of excess 74 STEEM was sent to @lilwallay at @mrwang's request so he could has his STEEM beyond what was needed to finalize the loan payments earlier in the day before this post and these payments were made.
Big thank you to everyone that made this Steem Loan Experiment a success! Please check out recent posts of users who supported this project.
Steemit Exclusive Photo Shoot: Building The Real World Steemit Economy With Hand Painted Steemit Shirt Available Online For $teem! by @quinneaker
On Our Way To Austin For Another Audition with @bycompoundfilms by @mrwang
Reaching 2500 Followers, SteemFest fundraiser, and what may I help with @ Steemfest by @virtualgrowth
The same sense of disconnection, expressed differently in each of us. by @mattclarke
Quick film Review: The Lost Future with Sean Bean.
Best,
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YAY for the loan success! I trust MrWang; he is good for the money. Thanks for the Shoutout my friend!
Most welcome @kenny-crane!
This was a great experiment. Hope you enjoy your Steem Powered car.
Great indeed.
Always nice to see when an investment endeavor comes to fruition. Good work virtual. Now that it's in the books, I will def. consider the next opp. I mean, I am the scaredycat after all...need to see stuff work ;-)
Thank you very much.
A brilliant study in trust and community spirit. Nicely handled. Well done to all :)
Thank you very much @michelle.gent :)
Yea this was a really cool experiment for sure. It defiantly has some potential though all in all I lost a lot of money on this agreement.
I was very disappointed and felt that really it was a bad choice on my part for the good of my own self. I only did it because I could see a fellow Steemian was in need and was not getting the help he needed. Also I wanted to help a unique and potentially viable experiment get tested for the potential future of Steemit.
I do appreciate you holding accountable the base terms and u did our job honorably. I will go check to make sure I got paid back in full but assuming your accounting is accurate.
SteemOn!
Will do a follow up post bringing the accounting together for everyone to view.
Yea good idea!
See you at Steemfest!
Yea!
Full Steem Ahead to SteemFest!
This project, right here, the Steem Loan Experiment, would be an absolutely great project to utilize the new SMT. That would open up so many possibilities for anyone wanting to invest in new loans. Using the Smart Media Tokens with a money making concept and we would be able to guarantee that investors never lose money. Not only would they be paid back their entire principle, but interest as well, based on the term of the loan.
Think of the talent pool amongst Steemians. If we can create the SMT and give accurate, believable examples on how best to use and make money using them, then why not use it for the Steem Loan Programs? We could even divide the loan catagories into such things as medical expenses, vehicles, homes, vacations, starting a business, starting a biz online, home improvements, vehicle repairs, new computers, new cameras, you name it. I could go on and on. There are so many people, including myself, that work their a**es off, have side jobs, I have 3, and still would need a loan to purchase a new vehicle. Maybe someone wants $500 so they can begin trading cryptocurrencies. We could create training and a couple courses that must be passed, as well as being a verified Steemian, to even be eligible for that. These are all just quick examples off the top of my head. I've even read about musicians and film makers that are here, on Steem, gathering support, to make their dreams come true!
We must be one of the smartest collectives out there, with members globally, with an economy. Surely we could make this work.
Sorry for rambling, I got excited thinking of all the possibilities, even the smallest ones, that could potentially make the difference between just living life and being happy living life to the fullest. For some people, that could be something as simple as a camera. Then, utilizing the SMT Platform again, we loan the money for the camera, possibly even find and buy from a Steemian. Then, have an expert Steemian in photography help find the person work after all conditions are met. Then, the loan gets repaid.
For it to work successfully, we must be better than everyone else offering loans. Perhaps, it's as simple as caring, wanting the person to succeed, and doing everything we can to help them and not leave people hanging. That would help prevent several bank loans from possibly defaulting.
We can provide, what banks won't and cannot. We have the experts, connections in all industries, people willing to teach or train applicants, an economy, a marketplace, and enough of us work, own, or know someone in large corporations, that are always looking for goid causes to support and throw millions away, if we were to need more incentives to get started.
I would be very interested in what everyone else thinks of this idea. If you aren't sure of
Thank you for the feedback. The idea of loans may be helpful. But my idea is loans of value as an advance on collateral of STEEM POWER for example of an account. This experiment and another was based on this idea. I actually want to eliminate the interest idea from this loan idea as well to further get away from such concepts that lose more value rather than create value in the long term. Not to have categories, but be more for absolute needs that are well defined as needed with means that will be paid back and guaranteed. To incorporate the positive values of this platform and detach and escape from past idea-ologies that may be more freeing, sharing, and beneficial.
That's a great idea! I would support that fully. I agree that we need to do away with the interest. I could think of twenty ideas for this off the top of my head. There's SO MUCH MORE that can and needs to be done using this platform. That would also increase interest and members, participating members, that understand fully how the entire platform works. I'm months into the platform and I still spend more time reading and learning than I do posting.
I hope you continue this and will try to follow along more quickly. I definitely want to contribute some suggestions to the new project if you decide to do one. We don't want anyone losing money!
Patiently Waiting :)