Fixed deposits with 12% interest per annum is very good if this is a fiat investment product at an established bank. For bitcoin, this seems very risky especially the minimum amount is 10btc. I check OP's profile on the internet. He has worked with a few well known companies, but HaoBTC is not very well known outside China. If investor deposits 10btc, he will only get 0.1btc after a month. 30 days is a long time to entrust someone with 10btc.
You misunderstood "fixed term" - you can make withdrawal ANYTIME as long as you are wiling to forgo the interest of the last month.
No, I did not misunderstand "fixed term". Read the example at the end of my post, I used 1 month and 0.1btc interest. Allow withdrawals anytime do not affect risk/reward assessments.
12% is just as risky as 8%, as long as we are around, we will honor our obligations. Risk is everywhere.
Don't sell your house for 12% p.a or something even better.I like this statement
Many time we hear about regulatory problems in China regarding bitcoin. As you are operating from China, can you please enlighten us regarding the current situation ? Is there any remotest possibility in future that authorities force your business to go down with customer's fund ?
Yes, we are based in China.
All governments like secrecy, the Chinese government is no exception. We are not privy to what the top leaders and central bankers think of Bitcoin and BTC businesses. But China has some BTC businesses, and some of them are quite large and doing all right. This leads some to argue that China is one of the most BTC-friendly countries. Also, a lot of Chinese fintech startups started operating in a legally grey area, only to be recognized by the government much later - one example is P2P lending, one sector that achieved exponential growth in the past few years. Years ago, when I made my first loan on a P2P site, I did wonder if it was legal and the government didn't take a clear stance until very recently.
So my two cents is that as much as the government hates a nation-scale speculative bubble, so as long as Bitcoin stays small, it doesn't have time for it.
