The @bankofwelshie daily update

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

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

Maybe I should have called 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 HERE

This idea sprung up as a tounge in cheeky experiment on how easy it is to get a currency circulating. So I decided to invent my own, backed by STEEM.

The "Welshie" is the first promissory note backed by steem.

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 into existence and sent to the depositor.

WHAT IS THE POINT OF A PAPER WELSHIE WHEN I CAN JUST USE 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, @WELSHSTACKER, 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.

A SHARE OF THE PROFITS

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

The 50/50 split post payout will be used - SP will be used to increase the upvote rewards for every member 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%(proportional to the number of WELSHIES held).

As the SP increases the voting % remains the same, but the value increases. As long as you hold the WELSHIE, you get an upvote.

PAYOUT

After 3 yrs the bank has made an extra 50 steem(for example) 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 BANK IS