Topic: Bank Interest VS Bitcoin profits - page 5. (Read 6313 times)
Nice success story, it could have gone either way but it went well, it not a reason anybody should jump into bitcoin. It is expected you do your investment research before investing. Bitcoin can give good yield when you understand the market. Presently bitcoin price is on the high and not a good entry point but as regards a good investment opportunity yeah bitcoin is. Make sure you find a good entry point.
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.
Much more if he had hold them for a few weeks or months. Bitcoins price is still shooting high.
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
Storing money in a bank is more than risky, it can be dangerous with negative interest rate policy, bank runs, or excess government regulation over cash. For modern day example, take a look at what happened in Greece and don't forget it. No country is immune to a financial meltdown. It's better to diversify your own finances to have more control of your wealth. Do not leave your family open to the control of institutions out of your control. At the end of the day, institutions do not care about what happens to you or your family.
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
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. 
The fact, profits we get from bitcoin much better than interest given by bank. Even facilities exist in bitcoin was much better than banking. I don't need a bank to save money, all i need is more bitcoin to gain more profit.
yes there is no doubt about this that the profit that we get from bitcoin is more better that bank interest. in fact in some religions interest is not as consider legal while business and investment is legal, because when you are related to any kind of business not only you but so many other people are also related to your business and they are a good earning their livelihood through your business. so investment is the best option in bitcoin. 
The fact, profits we get from bitcoin much better than interest given by bank. Even facilities exist in bitcoin was much better than banking. I don't need a bank to save money, all i need is more bitcoin to gain more profit.
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.
Oh my god! Wow! That is a lot of profit there man! Sadly, it could have been bigger if he decided to be more patient and chose to hold and wait for a little longer. Because we all know that the current price of bitcoins is still far from its peak/permanent/stable price (not so good in english). Sure, he might be laughing now, but i ak sure that after months he'll be regretting even the thought of selling his bitcoin possessions. And so much more after a few years.
If there isn't that much of a finalcial need, a smart man would never ever touch his bitcoins because he knows its potential and experienced already how hard it is to gain and to regret selling early.
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.
Bank interest rates are very low, and even under 1% per annum in some countries, so of course Bitcoin is way better performing.
I am agree with you that the interest rate of banks are very low and we are not fully satisfied of this amount of interest and also through the low interest rate of bank we can not fulfill our daily needs completely. Otherwise right, bitcoin is very better to perform their activities so which we can make very easily much profit. So I think if we save our money in bitcoin it give to us very much money.Instead of getting extremely low bank interest, I would go all in with bitcoin. This is very profitable and clear.
Bank interest rates are very low, and even under 1% per annum in some countries, so of course Bitcoin is way better performing.
I am agree with you that the interest rate of banks are very low and we are not fully satisfied of this amount of interest and also through the low interest rate of bank we can not fulfill our daily needs completely. Otherwise right, bitcoin is very better to perform their activities so which we can make very easily much profit. So I think if we save our money in bitcoin it give to us very much money.Instead of getting extremely low bank interest, I would go all in with bitcoin. This is very profitable and clear.
Bank interest rates are very low, and even under 1% per annum in some countries, so of course Bitcoin is way better performing.
I am agree with you that the interest rate of banks are very low and we are not fully satisfied of this amount of interest and also through the low interest rate of bank we can not fulfill our daily needs completely. Otherwise right, bitcoin is very better to perform their activities so which we can make very easily much profit. So I think if we save our money in bitcoin it give to us very much money. At this moment buying bitcoin does not seem like the best idea, if you have bitcoin this is the best time to sell, get your profits and wait for the correction in the market and then at that time buy bitcoin, but the answer is yes I will be willing to risk an amount that big of money in order to try to get profits with bitcoin.
Your somewhat right, for some reason many still buying bitcoin as of now hoping it would go up next year. That is a risky move but obviously those who done it are gamblers or will funded individuals. Let's see where we can go beyond $5000 price/mark this year.
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.
At this moment buying bitcoin does not seem like the best idea, if you have bitcoin this is the best time to sell, get your profits and wait for the correction in the market and then at that time buy bitcoin, but the answer is yes I will be willing to risk an amount that big of money in order to try to get profits with bitcoin. 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 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 $10 000 now, to possibly copy his success? Those were very uncertain times, when he had to make that decision back then.
Your friend have done the biggest mistake of his life. He should have hold the coin until today. Now, calculate the what profit he could have made, almost 72000$ in one and half year
. That would be amazing. 
Common people are not that skilled to make a investment or hold the bitcoin as a form of saving. This will increase over the days when digital currency turns to be an daily usable thing same as our traditional fiat. Compared to the bank interests the profit made from bitcoin holding is very big.
that is right but i can say that nothing is impossible in this world, in fact if a person study do little struggle then he can really learn about trading and can learn about trading very easily and after some time a person can get good experience and can then make good profit from trading. Yes you are right. Even a school studying student can do trading and investment in bitcoin. It's very easy to understand bitcoin. Only you need is Interest for learning about bitcoin. If you inverse your money in bank means.Only you will get percentage of profit for your money. But here you will get double the amount inversement in bitcoin.
Common people are not that skilled to make a investment or hold the bitcoin as a form of saving. This will increase over the days when digital currency turns to be an daily usable thing same as our traditional fiat. Compared to the bank interests the profit made from bitcoin holding is very big.
that is right but i can say that nothing is impossible in this world, in fact if a person study do little struggle then he can really learn about trading and can learn about trading very easily and after some time a person can get good experience and can then make good profit from trading.
Bank interest rates are very low, and even under 1% per annum in some countries, so of course Bitcoin is way better performing.
Common people are not that skilled to make a investment or hold the bitcoin as a form of saving. This will increase over the days when digital currency turns to be an daily usable thing same as our traditional fiat. Compared to the bank interests the profit made from bitcoin holding is very big.
Banks give very small percentage as interest say 2 or 3% which would be a very small return.Earlier,people had no option except depositing huge amounts in banks so that their investment would also be secure.But now,bitcoin has become their ultimate choice.They could get huge returns by investing in bitcoins and they find their investments also secure since bitcoin works in a secured block chain system.Thats why banks have started to fear about bitcoins that they are losing their revenue got from transactions due to bitcoins and in future,they may start losing deposits also.
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