I don't know why I have never realized it. Could it be that I have been obsessed with recovering my initial spend? That's a rule I try very hard to obey whenever I spend my own money: Recover your initial spend as soon as possible.
Greed overcomes me every so often though. I have broken the rule more times than I care to remember eyeing after the big fat balances. I have regretted just as many times breaking the rules. I would stay cool a while before my emotion takes over. Then the cycle begins again.
Oh, I'm sorry. I'm rambling. I was going to say that it somehow only dawned on me this morning. Paxmix is paying daily compounding interest! That means my balance will double in 36 days at 1.98% daily. At 2.48%, the highest rate, it's 29 days. One whole week less.
You may think, "Yawn... Big deal." But have you tried adding up the numbers? We know that Paxmix plans to lower the interest rates to 37% yearly from Jan 2007. So let's just crunch the numbers from Oct 2005 to Dec 2006 using the current rates.
- Oct 2005 to Dec 2006 = About 450 days
- 450 days / 36 days = 12.50 times of doubling
- Double $1 by 12.50 times = $5,792!
- $5,792 x $5 minimum spend = $28,960!
Do the same with 2.48%, 29 days, and $5: $234,490!
Wow!
So, what's the point of all the number crunching?
Eh... Come to think of it, none. I just got too excited over the daily compounding and the possibilities. In reality, who would keep on compounding and doubling their balances? We all know HYIP is a risky business. So no one will reach those numbers even if Paxmix can last that long. No seasoned HYIP player will take the risk.
I guess there is a point going through the exercises after all. It gets me dreaming about the possibilities. That's what keeps me going in the HYIP games.
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