Bank Interest VS Bitcoin profits - page 3.

zarados

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Quote from: Kakmakr on January 04, 2017, 02:46:42 AM

I introduced a friend to bitcoin in 2016 and he bought 20 bitcoins at $455 somewhere in January 2016. He now sold all of them at $1005 per bitcoin. After bank fees and trading fees, he made a profit of about $10 000 in a year.
The best interest rate he could get back in January was about 10% per year. So his profit from bank interest would have been +/- $910 for 2016.
Even after Tax has been deducted for Capital Gains, he will still Net a profit of about $7000 for the year. He is a very happy chap now, and I got a expensive lunch out of this deal. ^smile^
#Disclaimer : These are calculations done by him, so I do not know how accurate they are. Just thought I would share it with you.
Would you risk about $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.

I bet your friend should be regret selling its 20 btc at $1005 after seeing right now price. But he's doing good for holding it until 1 years. Not so much are like him, mostly dont trust bitcoin. well, by the way, if I have big mount of money, I would take a risk for investing in bitcoin. Because though right now I just have a small money to investing in it, I've already gain a quite big profit. And the bank interest you mention on top, I guess Its the best interest in the world. In my country, the best interest isn't more than 6.5% monthly.

senyorito123

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Quote from: Hoganye on August 29, 2017, 12:58:13 AM

Quote from: maydna on August 26, 2017, 10:19:54 AM

i am sure that bitcoin profit will bigger than bank interest because the percentage from the banks is too small and can not compare with bitcoin profits. bitcoin profits in one day can reach bank interest in a month and if bitcoin profits in a month comparing between bank interest, maybe its too big bitcoin profits.

Indeed, with trader in Bitcoin, earn profit 1% per day very easy if you have knowledge and experience about cryptocurrency market and a little luck. And only after one week if you can do that as my said, you will have profit = one year save in bank ...

That's why I love tradings since it can give a huge profit that can't be given by the bank and bitcoin investments can make us more richer since we have so many options to join with where we can earn more. But on the other hand Bank are passive investments with low risk and this one would be advisable for the people who cannot afford to lose on Bitcoins sudden flactuation.

Hoganye

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Quote from: maydna on August 26, 2017, 10:19:54 AM

i am sure that bitcoin profit will bigger than bank interest because the percentage from the banks is too small and can not compare with bitcoin profits. bitcoin profits in one day can reach bank interest in a month and if bitcoin profits in a month comparing between bank interest, maybe its too big bitcoin profits.

Indeed, with trader in Bitcoin, earn profit 1% per day very easy if you have knowledge and experience about cryptocurrency market and a little luck. And only after one week if you can do that as my said, you will have profit = one year save in bank ...

ahmia39

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Interest given by bank or even its facilities, isnt worth what we sacrifice. Because we let bank make more money by lending to creditors. while we are struggling to saving on them, just get a tip of hair from what they get from utilizing our money. And now is the era bitcoin, where we have full control of money we have and profits are entirely within us.

aeternus

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Quote from: Rahar02 on August 21, 2017, 10:51:18 AM

Bitcoin offer the best profits/interest rate than any other banks in this world Grin

None could compare with bitcoin interest value, if you consider it as another way to deposit your money.
It's remain safe for a long time as you want it, whether a year or even 10 years.
Since I knew about bitcoin, bank isn't my priority to save money, there's bitcoin wallet which is far better than bank account.

Banks have always been a very bad bet when saving your money, many do not give you interest rates, you do not have a guarantee you are going to get your money back, and you are losing control of your money in which you give all the power to the bank.

cengsuwuei

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Quote from: quake313 on January 04, 2017, 04:05:51 AM

What bank offers 10% interest? Please, I need to know this.

you can find about bank offers 10% interest, in poor country or county with GDP is very low
but in europa land bank interest under 0.5%/year same with USA, japan and more

but if you want good profit and return is the best invest bitcoin and altcoin

Indrawan77

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Quote from: Kakmakr on January 04, 2017, 02:46:42 AM

I introduced a friend to bitcoin in 2016 and he bought 20 bitcoins at $455 somewhere in January 2016. He now sold all of them at $1005 per bitcoin. After bank fees and trading fees, he made a profit of about $10 000 in a year.

The best interest rate he could get back in January was about 10% per year. So his profit from bank interest would have been +/- $910 for 2016.

Even after Tax has been deducted for Capital Gains, he will still Net a profit of about $7000 for the year. He is a very happy chap now, and I got a expensive lunch out of this deal. ^smile^

#Disclaimer : These are calculations done by him, so I do not know how accurate they are. Just thought I would share it with you.

Would you risk about $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.

It sure is a difficult decision because 10k $ is a big amount, putting in bank is more secure, but put it in bitcoin form sure can multiply your money, if your 10k is a spare money then I will go for bitcoin but if it is used for you daily life I think you better split your investment in bank and bitcoin

djkyno

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Bitcoin profits is really better and more than bank interest. You need to hold very big amount in your bank in order to get some small interest yearly, while using Bitcoin you get the profit each time the price increase.

strunberg

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Quote from: Chip-Dale on August 26, 2017, 04:45:41 PM

After I found out about the crypto currency, I forgot about the banks. I do not need them for lending and keeping money. I use ATMs only to receive cash through exchange offices
Bitcoin is our future

Yeah banks pays interest in peanuts and inflation will eat away all your profits so its better to keep money in bitcoins and hold it for future as you will surely make higher profits in bitcoins in compare to interest paid by banks and after having a bitcoin wallet you don't need banks for saving your money as you have your own bank in the form of bitcoin wallet.

Chip-Dale

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After I found out about the crypto currency, I forgot about the banks. I do not need them for lending and keeping money. I use ATMs only to receive cash through exchange offices
Bitcoin is our future

ALT67890

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That story might have more impact when the selling transaction happened this August, but it is still a win deal for him and for you having a expensive launch. A profit is still a profit no matter how small or big it is, what is important you're happy and he feels happy about it.

cashodler

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Quote from: maydna on August 26, 2017, 10:19:54 AM

i am sure that bitcoin profit will bigger than bank interest because the percentage from the banks is too small and can not compare with bitcoin profits. bitcoin profits in one day can reach bank interest in a month and if bitcoin profits in a month comparing between bank interest, maybe its too big bitcoin profits.

Talking like 8th grader, lol. No /s

No wonder so many people still in Bitcoin, when it's the only thing they'll ever know about blockchain technology.

I hope Jihan will slap you.

nizamcc

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The decision he made to invest in Bitcoins at such prices was a great decision.
He waited till the price rise, that was awesome too.
But he sold at 1k? Must be crying hard atm and thinking how stupid he must have been for not waiting a bit more to have his profits ten folded.
Anyways, it is said that better late than never so ask him to be very careful next time he decides to take such decisions.

maydna

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i am sure that bitcoin profit will bigger than bank interest because the percentage from the banks is too small and can not compare with bitcoin profits. bitcoin profits in one day can reach bank interest in a month and if bitcoin profits in a month comparing between bank interest, maybe its too big bitcoin profits.

jimn

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Obviously Bitcoin profits is a lot more than bank interest, bank give you very small percentage yearly for your savings, while the Bitcoin's price is increasing almost weekly (and sometimes daily) and it is expected that the price will reach really highest levels soon.

cryptojac17

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Quote from: iqlimasyadiqa on August 24, 2017, 07:25:19 PM

Quote from: BChydro on August 24, 2017, 05:57:41 PM

Banking interest is safe and low profit but any other form of investment has a risk you own and the profit you earn will be much higher,be it in stock market or any other investment,2016 was probably the best year to invest in bitcoin and people who took a wise decision to invest has made an insane amount of profit than any other forms of investment and it will keep on increasing with time.

That is what makes BANK quite in demand by many people, safe and reliable investment. But the BANK will not make us get a big profit. When we want to get big profits then investing in bitcoin is the best choice, but investing in cryptocurrencies also has a big risk. This is very balanced because when we want to get big profits then we have to go through big risks as well. So everyone will have their choice. I would choose to invest in bitcoin in order to get a bigger chance in making a profit.

Bitcoin investments has higher advantages compared with banking investments for now, and I tell you banks will only be making profit at their end at 95 % and lesser with the depositors side. They just get small returns from their deposited money, since all we wanted is profit but most of the holders in the banks were further frustrated. Now there's bitcoin profit like the investments of holding an amount which took higher capability to gain higher investments earning once price will reached the good value so you can enjoy the profit you wanted to.

winterland

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Quote from: Kakmakr on January 04, 2017, 02:46:42 AM

I introduced a friend to bitcoin in 2016 and he bought 20 bitcoins at $455 somewhere in January 2016. He now sold all of them at $1005 per bitcoin. After bank fees and trading fees, he made a profit of about $10 000 in a year.

The best interest rate he could get back in January was about 10% per year. So his profit from bank interest would have been +/- $910 for 2016.

Even after Tax has been deducted for Capital Gains, he will still Net a profit of about $7000 for the year. He is a very happy chap now, and I got a expensive lunch out of this deal. ^smile^

#Disclaimer : These are calculations done by him, so I do not know how accurate they are. Just thought I would share it with you.

Would you risk about $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.

It depends, if that is the only amount of money that you are going to invest for a long time then I will invest that in bitcoin but if you have plans to keep investing more money in the future then I think I will invest in altcoins instead.

iqlimasyadiqa

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Quote from: BChydro on August 24, 2017, 05:57:41 PM

Banking interest is safe and low profit but any other form of investment has a risk you own and the profit you earn will be much higher,be it in stock market or any other investment,2016 was probably the best year to invest in bitcoin and people who took a wise decision to invest has made an insane amount of profit than any other forms of investment and it will keep on increasing with time.

That is what makes BANK quite in demand by many people, safe and reliable investment. But the BANK will not make us get a big profit. When we want to get big profits then investing in bitcoin is the best choice, but investing in cryptocurrencies also has a big risk. This is very balanced because when we want to get big profits then we have to go through big risks as well. So everyone will have their choice. I would choose to invest in bitcoin in order to get a bigger chance in making a profit.

BitHodler

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Quote from: marcuslong on August 23, 2017, 05:37:24 PM

Banks can only offer you 3-5% percent of your deposit while in bitcoins there's no limit of the percent of you can earn from stocking them in your bitcoin wallet

Not sure where you are located to have banks offer you such high interest rates, but there is a difference when it comes to generating interest and storing your coins in your wallet.

The interest you generate from banks will be stacked up on top of your initial savings deposit, while if you store/hodl Bitcoin for whatever time period, you don't actually gain anything until you start cashing them out.

In that exact same way, if the price happens to go down, you also won't lose anything until you cash out. Till that time, everything you 'lose' or 'gain' will be nothing more than a result on paper, and thus not effective.

BChydro

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Banking interest is safe and low profit but any other form of investment has a risk you own and the profit you earn will be much higher,be it in stock market or any other investment,2016 was probably the best year to invest in bitcoin and people who took a wise decision to invest has made an insane amount of profit than any other forms of investment and it will keep on increasing with time.

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