Bank Interest VS Bitcoin profits | Bitcointalksearch.org

aeternus

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Quote from: PokerDiceMan on September 08, 2017, 12:15:36 AM

Quote from: albertvert on September 05, 2017, 09:47:16 PM

Quote from: crazylikeafox on September 05, 2017, 05:58:22 PM

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Ya 100% correct. Bank interest for your money of 5-10% maximum .Which you have to maintain in the period of 1 year.But in bitcoin, their is nothing to keep for one year and all.At any time you can brought the bitcoin and at any time you can sell that bitcoin. It's freedom we have in bitcoin not in a bank.We can have n number of times Profit in bitcoin .But in bank we will get yearly interest

but bank interest is very safe
you not lost money, difference with bitcoin althoug you can get high return, but you potential lost youre money, because bitcoin price down

Mistake you can lose money with your money invested in a bank, if your yearly rate is 3% and the inflation of your country is 6% you lost 3% in purchasing power, as you can see leaving your money in a bank with those low interest rates can make you lose money too.

maydna

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Quote from: zarados on September 09, 2017, 09:06:23 PM

Quote from: cybersofts on September 08, 2017, 05:24:22 AM

Bank interest is a joke! Bitcoin profits is more interesting!
Banks will do business with your money without knowing how much profit they make and later gives you a very small percentage.
While if you buy bitcoin you are in control of your bitcoin trading or lending where you may get huge profits, you may in fact double your money in few months.

Absolutely true, I am one of the banks employee, and I wonder whither are they use the customers money. It turns out to investment on stock and etc. You're actually just seen the digit number in your account, mean while, they're using your money and get profits almost 100% a year, but they just give you 6% interest/year. Is it fair for you? Of course not. But that's a money game should be, there's always be a disadvanteges and advantages person.

i think with the money collected by the customer, the banks can using the money to go with investment or stock like you said and we as customer only gets small return but its cuts by the fee for monthly. i am sure that this is what the banks do with their customer and customer like us is fine with them as long as our money is safe with them.

zarados

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Quote from: cybersofts on September 08, 2017, 05:24:22 AM

Bank interest is a joke! Bitcoin profits is more interesting!
Banks will do business with your money without knowing how much profit they make and later gives you a very small percentage.
While if you buy bitcoin you are in control of your bitcoin trading or lending where you may get huge profits, you may in fact double your money in few months.

Absolutely true, I am one of the banks employee, and I wonder whither are they use the customers money. It turns out to investment on stock and etc. You're actually just seen the digit number in your account, mean while, they're using your money and get profits almost 100% a year, but they just give you 6% interest/year. Is it fair for you? Of course not. But that's a money game should be, there's always be a disadvanteges and advantages person.

cybersofts

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Bank interest is a joke! Bitcoin profits is more interesting!
Banks will do business with your money without knowing how much profit they make and later gives you a very small percentage.
While if you buy bitcoin you are in control of your bitcoin trading or lending where you may get huge profits, you may in fact double your money in few months.

Casabrandy

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Quote from: PokerDiceMan on September 08, 2017, 12:15:36 AM

Quote from: albertvert on September 05, 2017, 09:47:16 PM

Quote from: crazylikeafox on September 05, 2017, 05:58:22 PM

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Ya 100% correct. Bank interest for your money of 5-10% maximum .Which you have to maintain in the period of 1 year.But in bitcoin, their is nothing to keep for one year and all.At any time you can brought the bitcoin and at any time you can sell that bitcoin. It's freedom we have in bitcoin not in a bank.We can have n number of times Profit in bitcoin .But in bank we will get yearly interest

but bank interest is very safe
you not lost money, difference with bitcoin althoug you can get high return, but you potential lost youre money, because bitcoin price down

Well it will depends if you'll timingto cash out your btc the moment it's value dumps,which I hope we'll not be going to do. I just use banks now for cashing out purposes but if for saving my money , i will just keep it on my btc as long as i know my wallet is safe.

PokerDiceMan

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Quote from: albertvert on September 05, 2017, 09:47:16 PM

Quote from: crazylikeafox on September 05, 2017, 05:58:22 PM

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Ya 100% correct. Bank interest for your money of 5-10% maximum .Which you have to maintain in the period of 1 year.But in bitcoin, their is nothing to keep for one year and all.At any time you can brought the bitcoin and at any time you can sell that bitcoin. It's freedom we have in bitcoin not in a bank.We can have n number of times Profit in bitcoin .But in bank we will get yearly interest

but bank interest is very safe
you not lost money, difference with bitcoin althoug you can get high return, but you potential lost youre money, because bitcoin price down

aeternus

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Quote from: pitiflin on September 06, 2017, 01:45:07 PM

I would say he made a mistake by selling his bitcoin at a price of a mere 1005$ per bitcoin. That's way too less, the price is 4600$ almost as of my this moment, so look at the profit percent change, 4.5 times of his original profit he got after he sold. This is one of the best things that a bitcoiner can experience with patience. I will not sell bitcoin at such a price, it would be considered ad a terrible mistake.
And bank interest it is never a good option to go for, they will charge you a lot of unnecessary fees and your profit will reduce ,so I will go for bitcoin and not for bank interest any day.

He still made a lot of money but I agree with you we must never sell unless we need to do it, bitcoin is going to keep rising in price since adoption is not going to stop especially if we take into account the small amount of people that are in bitcoin at the moment.

Vaskiy

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Bitcoin interests were much higher than what's been earned through bank interests. Banks provide very small amount as profit for the savings, whereas with bitcoin the price varying with regards to time gives a good profiting depending on the difference happening between the time of saving as time of cashing out.

pitiflin

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I would say he made a mistake by selling his bitcoin at a price of a mere 1005$ per bitcoin. That's way too less, the price is 4600$ almost as of my this moment, so look at the profit percent change, 4.5 times of his original profit he got after he sold. This is one of the best things that a bitcoiner can experience with patience. I will not sell bitcoin at such a price, it would be considered ad a terrible mistake.
And bank interest it is never a good option to go for, they will charge you a lot of unnecessary fees and your profit will reduce ,so I will go for bitcoin and not for bank interest any day.

aeternus

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Quote from: crazylikeafox on September 05, 2017, 05:58:22 PM

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Forget about a year, you will not make that amount in a decade and that is without taking into account the inflation of the country which is going to slow down the earnings even further, so this once again show to us that bitcoin is not only the best investment in the world but the easiest, since you do not need to have a crystal ball to know that the longer you hold the bigger your profits.

albertvert

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Quote from: crazylikeafox on September 05, 2017, 05:58:22 PM

With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

Ya 100% correct. Bank interest for your money of 5-10% maximum .Which you have to maintain in the period of 1 year.But in bitcoin, their is nothing to keep for one year and all.At any time you can brought the bitcoin and at any time you can sell that bitcoin. It's freedom we have in bitcoin not in a bank.We can have n number of times Profit in bitcoin .But in bank we will get yearly interest

crazylikeafox

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With his calculations I do not believe any bank interests than can make a $7k/year by investing $10k. Bank interests are very low that only people with big bank account can generate those yearly profit.

JL421

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Bank interest has reduced by a lot numbers over the past years, most banks are struggling to provide loans and often bug people by claiming to give them low interest loans because of this bank interest reduces
Bitcoin profits are really good if you hold bitcoin wisely and don't use it for other purposes which is risky like gambling

Zenithar

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Quote from: poldanmig on September 04, 2017, 01:44:33 PM

Banks interest just tip of nail compared profits that i earned from bitcoin. Even with deeper understanding of financial world and circulation, i am increasingly interested in capitalizing on btc rather than saving money at bank.

i also think so i think we should not compare the income of bitcoin the interest that we get from banks, i think that the income that we get from bitcoin is much more than the banks interest. in fact in my religion interest is not legal and if you are taking on your money you are committing a sin, therefore to me i think bitcoin is much more better that banks interest.

dashcoins

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Simple, For me bitcoin win any time any where. Bitcoin is the bomb. When i go to bant to even withdraw the little I have the threat me bad. But not in cryptocurrency. Interest rate in banks are to low. Cryptocurrency pumps you high income. Am all up for bitcoin.

bitcoinchrist

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This is not a comparison at all. I bought bitcoin for 100$ and now I have 300% profit, No bank can give me this. Bitcoin vs bank, 247 Bitcoin wins. Some times I regret Why I did not hear of Bitcoin long ago. I would have pushed all my money into it.

aeternus

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Quote from: Slark on August 29, 2017, 03:35:55 PM

The more I see how Bitcoin is growing continuously the more I am convinced that selling bitcoin - unless you are desperately in need of money - is a foolish move.
Take a look at the opening post, op's friend made quite a bit money on his BTC investment. Was it 10k USD?
But imagine if he would wait and sell BTC now - or even better in 2020 - after the next halving. The profit would be 5 or even 10 more times greater.

Selling bitcoin before it explodes is a mistake, if an early adopter wants to sell at this point I cannot blame him if he bought at 1 dollar and can sell for 4000 then that is good, but someone that bought bitcoin for 1000 should not sell unless the price hits at least 10 times what he paid.

poldanmig

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Banks interest just tip of nail compared profits that i earned from bitcoin. Even with deeper understanding of financial world and circulation, i am increasingly interested in capitalizing on btc rather than saving money at bank.

laredo7mm

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Quote from: oegarod on September 04, 2017, 01:21:43 AM

Quote from: SushiMonster on September 03, 2017, 08:46:06 PM

Quote from: abstractednerve on September 03, 2017, 07:53:07 PM

The interest paid by banks is too low and inflation rate in my country is on the moon so there is no point in saving money in banks as it will never give me a feeling of getting some returns so I will go for investing money in bitcoins and saving it in my bitcoin wallet as over a period of time it will surely give me higher returns in compare to bank interest.

True, in our country the interest banks gives in saving accounts are just around 0.25%, by the end of the year it's just really little.
With bitcoin, trading gives us a better percentage on earnings - you just have to learned the strategy and get updated on the bitcoin price cap.
For young people - bitcoin is a great start to be knowledgeable in trading and investing. I actually learned a lot about the economy thanks to this forum!

Bank interests were very low, and by the end of the day the user gets nothing for the savings he has done. Same with bitcoin the periodic growth generates the difference and the same will provide with the profit that could have never been possible to be earned through bank interests.

If you save money in banks then its only the banks who will make profits out of it and will give you nothing in return but we do need banks for our day to day transactions and to keep our fiat money safe in it but its also good to invest some money in bitcoins as profits you will make from it will be definitely higher then bank interest.

oegarod

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Quote from: SushiMonster on September 03, 2017, 08:46:06 PM

Quote from: abstractednerve on September 03, 2017, 07:53:07 PM

The interest paid by banks is too low and inflation rate in my country is on the moon so there is no point in saving money in banks as it will never give me a feeling of getting some returns so I will go for investing money in bitcoins and saving it in my bitcoin wallet as over a period of time it will surely give me higher returns in compare to bank interest.

True, in our country the interest banks gives in saving accounts are just around 0.25%, by the end of the year it's just really little.
With bitcoin, trading gives us a better percentage on earnings - you just have to learned the strategy and get updated on the bitcoin price cap.
For young people - bitcoin is a great start to be knowledgeable in trading and investing. I actually learned a lot about the economy thanks to this forum!

Bank interests were very low, and by the end of the day the user gets nothing for the savings he has done. Same with bitcoin the periodic growth generates the difference and the same will provide with the profit that could have never been possible to be earned through bank interests.

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