Mayfield is a type of community banking that uses Bitcoin as a medium of value.
Mayfield is NOT a pyramid or a ponzi scheme. We empowering people to be in control of their assets and equalize the wealth within the community itself.
We are commited in making sure this community lasts and does good to the people in it. Our mission statement is to empower community and to end poverty.
Banks are supposed to be a source of financial help for their depositors, but in today's world that rarely happens. Without perfect credit and a large income, banks don't want anything to do with you.
Mayfield is a membership website where participants can exchange financial aid.
We're a decentralised community for financial assistance that uses the decentralised currency of Bitcoin to provide that assistance.
The idea is "Today you help someone, and tomorrow someone will help you".
In the conventional banking system, a person can only withdraw the amount of money in their own bank account. Say John has $500 in the bank. He can't simply take out $650 from the bank, even though the bank has Lucy's $3,000 and Brandon's $5,000 which would cover John's withdrawal amount.
But he can take out a loan. The bank can loan out up to nine times all the funds deposited there to anyone, and the bank profits from the interest.
If the bank can take Lucy's, Brandon's, and more of its clients' money and give it to John as a loan, why can't John simply ask Lucy or Brandon for financial aid?
Yes, John can ask... but Lucy and Brandon will likely say no, even if they know him. And John probably doesn't know who has extra money that could accommodate his needs anyway.
Even if Lucy has $3,000 that she won't use for the next couple of months she's unlikely to give it to John, because John can't guarantee that he'll pay the money back when Lucy needs it.
That's what Mayfield is for.
With Mayfield, if Lucy helps John with $150 John doesn't have to promise to pay Lucy back.
Because on Mayfield, whenever you provide help to someone today you have the CROWD GUARANTEE that you can rely on them whenever you need financial help in the future.
So anytime Lucy needs financial help after she's helped John, she can request it and the system will assign a financial helper to Lucy.
It could be John, or Brandon, or any of the millions of Mayfield community members.
Mayfield is not a bank or a company that take deposits. Mayfield is simply a platform where participants can exchange financial help directly.
So if you provide help to someone else, whenever you need financial help millions of Mayfield community members will offer you the help you need, with no requirement for you to pay it back.
Normally it will be within 30 days of the month. Depending on the frequency of each PH/GH. There is no specific timeframe but a typical 1 cycle should be within a month.
Yes, you may. However, if your BTC is queued to PH, you are unable to withdraw until that queue goes out and you have received GH.
Every time you can greatest PH 5,000 dollars, provided that an order needs to be done on prepay