Topic: Bank Interest VS Bitcoin profits - page 4. (Read 6286 times)
We can not actually compared this two investment angle for now. Bitcoin investment is far more profitable than fixed deposit in the bank. Your friend even earn 10% per annual for his involvement in my country the fixed deposit rate is 8% per annual. Bitcoin has given over 300% return to the holders this year alone.
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 since i don't have a bank account i always preferred to use bitcoin wallet and cardless atm to withdraw my money that came from bitcoin. As of now if you do invest your money from gambling or when the time bitcoin is more cheaper than now maybe we can make thousands of dollars.
Yes, banks provide such a low interest percentage on our savings. Once again in that the bank deducts several charges for services that we have never used. In reality the profit made from similar amounts of bitcoin will be at least 100 times higher than what's got through the interest got from banks. 
If that happens this august and not last January, it will be much more than an expensive lunch you will get.. But that is still a win situation and a half a year after is a different story it will be a jackpot not just a win.. Congratulation it is still a great deal..
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 since i don't have a bank account i always preferred to use bitcoin wallet and cardless atm to withdraw my money that came from bitcoin. As of now if you do invest your money from gambling or when the time bitcoin is more cheaper than now maybe we can make thousands of dollars.
Why waiting a full year to generate a few lousy percentages while you can make your invested capital go nuts (positively speaking) with Bitcoin? I seriously don't find it worthwhile to waste a full year just to gain 2-3%.
Most of the average joe type of people are far too conservative to put their nose into something they don't know anything about - Bitcoin nicely fits in that category. If you look at the average interest rates they generate annually (nowadays well under 1%), then a 3% top return isn't all that bad in their eyes. Important to take into consideration is the fact that they aren't used, and not willing to take any risks with the savings they worked their entire life for to build up. I think it's fair to say that if these people end up generating enough per annual term to avoid seeing their savings lose buying power, that they are perfectly fine with it.
you need to put that money to work for you, if you do not then you are losing money and losing money is always bad no matter how you try to explain it.
People more and more are starting to put their savings to work. In most cases they tend to go with bonds, funds, defensive stock portfolios, etc. Obviously, there is nothing wrong with that, but if you consider that there are far better alternatives (yes, I am referring to Bitcoin), you'll be getting much more out of your capital than when you choose to go with the afore mentioned options. Why waiting a full year to generate a few lousy percentages while you can make your invested capital go nuts (positively speaking) with Bitcoin? I seriously don't find it worthwhile to waste a full year just to gain 2-3%.
Would you risk about $10 000 now, to possibly copy his success?
Without hesitation i would invest $10000 because bitcoin now has a favorable market to grow and can allow me to get my profits faster than your friend had to wait.
Those were very uncertain times, when he had to make that decision back then.
You got that right there was so much uncertainty back then...luckily investing in bitcoin is no longer high risk, it's a safe haven.
Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.
Well there are some countries in which if you deposit money in your bank bank takes interest from the customers and other countries pay some marginal interest for keeping money in bank. While on other hand if you invest in btc and keep it probably one day you may become millionaire with some investment itself which cannot happen in bank anytime till your retirement too.
Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.
Return is directly proportional to risk. Bank deposits are (almost) risk-free investments. So you are bound to get low returns. It is foolish to compare that with Bitcoin, which is a risky investment.
If we consider blockchain and cryptocurrencies will replace and overthrow baking system in the future, it is clear that bitcoin will be more profitable than banks in long term. I do not think it is risky, bitcoin can be safer than banking system because banks may collapse in any financial crysis like lehman brothers
What bitcoin can't collapse? Here they are on the same level of risk. Bitcoin more attractive to me because it is not affected by inflation. Even if the price of bitcoin will not grow at all I will not abandon him because he will be cheaper than Fiat.If we consider blockchain and cryptocurrencies will replace and overthrow baking system in the future, it is clear that bitcoin will be more profitable than banks in long term. I do not think it is risky, bitcoin can be safer than banking system because banks may collapse in any financial crysis like lehman brothers
What bitcoin can't collapse? Here they are on the same level of risk. Bitcoin more attractive to me because it is not affected by inflation. Even if the price of bitcoin will not grow at all I will not abandon him because he will be cheaper than Fiat. 
If we consider blockchain and cryptocurrencies will replace and overthrow baking system in the future, it is clear that bitcoin will be more profitable than banks in long term. I do not think it is risky, bitcoin can be safer than banking system because banks may collapse in any financial crysis like lehman brothers
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.
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.
Well, you are telling 10% interest rate, can you tell me the name of bank, which bank offer you 10% rate?
Actually, in my country, bank give us offer very cheap lowest rate, and even it is useless to save on bank.
That the reason, i feel surprising about your rate of interest.
May be in other countries bank give the different rate of interest.
But i prefer to bitcoin profit than bank interest.
Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.
You really correctly noticed that working with Bitcoin brings much more profit than banking. Of course If you pay attention to how you can invest in the banking sector from Bitcoin, the difference will be very significant. 
Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.
Well there are some countries in which if you deposit money in your bank bank takes interest from the customers and other countries pay some marginal interest for keeping money in bank. While on other hand if you invest in btc and keep it probably one day you may become millionaire with some investment itself which cannot happen in bank anytime till your retirement too.
Profits from bitcoin much higher than what bank interest. And it's supposed bank is innovating more so people want to save their money back than bitcoin. There is no profit i get from bank, whereas in bitcoin. Money i invest has grown x2. Different gains.
Bitcoin offer the best profits/interest rate than any other banks in this world 
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.
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.
No nice interest i get from bank, even when i have savings balance over $50k. Nah on contrary, when i switch with 10% from savings to start investing bitcoin i can very unusual. My bitcoin has grown more than 30% less than 5 months. And it's still so much better than bank interest.
This is a not contest bitcoin is probably one of the best investments in the world there is no way banks can give those interest rates when in fact I have heard that some banks are now charging you money for having your money stored with them, that is crazy.Many say that investment in the crypto currency is very risky. But if you think about it, storing money in a bank is also very risky. Therefore, comparing the profit from the deposit in the bank and from bitcoin, I will definitely choose bitcoin
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.
Bitcoin all the way, no bank is going to give you the profits that bitcoin has, and that is bitcoin, if you decide instead to invest in alts then the earnings can be even larger if you time the market right, so to me this is a no brainier invest in bitcoin and forget about the banks.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.
Of course bitcoin very profitable when compared with interest rate we get from saving in bank. My constraint isn't about bank interest, but at my ease in transactions and saving make me choose bitcoin. Even in country i live, to make large withdrawals, sometimes have to wait up to 1 day.
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