NP$ Bank Rates Changing July 18th (Buy $.01 / Sell $.025)

[RJ]

The NP$ Bank rates will be changing on July 18th. This is per the 10 day notice I promised NP members before changing any bank rates.

Bank "Buy" Rate (Price the NP$ bank will pay per NP$)
Current rate: $.005
New Rate: $.010

Bank "Sell Rate" (Price the NP$ bank will sell NP$ for)
Current rate: $.030
New Rate: $.025

Bank transactions are few and far between compared to the volume of trades on the NP$ Exchange. Bank rates are set to provide an upper and lower limit to the prices NP$ are bought and sold for on the exchange. The current market rate should be between the bank's buy and sell rates.

I don't expect this change will have much if any effect on the average selling price. Typical market rate for NP$ has been in the .015 - .018 range for the past couple of years.

Also beginning today, the NP$ Exchange will also expire unaccepted bids and offers after 45 days. We've had offers to buy/sell NP$ listed that were somewhat ancient. The new bank rate should hopefully eliminate some of the extreme offers to buy and sell listed there that never get accepted.

 

[True_Snake]

Sounds good, Ron. Some nice changes, IMHO :tu: .


True_Snake

 

[jeter4982]

Sounds great Ron! Maybe this will allow the rate for NP $ to slide up to 0.019 or 0.02

Tom

 

[IAmAllanShore]

Just a "narrowing" of the possible price range it sounds like, shouldn't change the actual exchange rate much at all

-Allan

 

[armstrong]

This is RJ putting a bigger chunk of his wallet on the line. It inspires confidence in the currency, which could improve overall liquidity.

:tu:

 

[equity78]

Great move RJ IMO, once again showing the class act you are.

 

[Coastalguy]

I agree with the "ancient listings".

Time to get rid of those.

:tu:

ST

 

[Rob]

I don't expect this change will have much if any effect on the average selling price. Typical market rate for NP$ has been in the .015 - .018 range for the past couple of years.

I hope you are not referring to my 13,000NP$ which I posted for sale! Infact, Scott bought them and is now the richest person on NamePros


:tri:


Although some people did post some crazy 'buy for' offers, like $10 for 10,000NP$!

 

[GJ]

Sexy changes Ron! lol

 

[Kenny]

A little help here boys, I never was that good at cypherin'...

If I buy 1000NP$ now it costs $30.00usd

but if I wait it will cost $25.00usd... is this correct?

Thanx...

 

[IAmAllanShore]

A little help here boys, I never was that good at cypherin'...

If I buy 1000NP$ now it costs $30.00usd

but if I wait it will cost $25.00usd... is this correct?

Thanx...

If you buy it from the bank, yes.
If you buy it at the exchange then still b/n $15 - $17 for 1000 NP$ (Or whatever the change in exchange rate is due to normal market forces)
-Allan

 

[aween]

in the end if you "withdraw" it goes to NP . on the other hand, you stimulate to keep NP online because reading this message already costed you using 200 kb+

 

[dgaussin]

Bank transactions are few and far between compared to the volume of trades on the NP$ Exchange.

I didn't think people buy NP$ from the bank...

 

[hotrod12]

I didn't think so either but hopefully now they will.

 

[Sabre]

Some people do, I'm pretty sure...

Awesome move! :tu:

 

[bentong]

good move.

with a large # of members here, i think there are also members who buy NP$ from the bank..

 

[Veolus]

Nice to see some new changes to the bank :lol: Hopefully more people will start to sell/buy to and from the bank :D

also, hopefully Ron's wallet won't be put into jeopardy :lol:

 

[Stephen]

Should of changed already?

Just wondering.

Stephen

 

[Venolus]

Good move, would be quite benefitial

 

[hotrod12]

The bank's new rates are now in effect it seems.