When I entered Bitcoin my thought was "I'll earn some money to convert to cash as soon as possible". Now that I am into it I think that probably the best time to use them would be when they'll be directly accepted in all major commerces.
That is, I do not think that it is possible that bitcoin would reach, say 20,000 $ a piece and yet not widely accepted. Yeah, it is like gold in a sense, but can be transferred very fast and innovations are making it faster. It is not likely to be only a store of value in the end.
And yes, it yields a much higher interest than banks.
Topic: Bank Interest VS Bitcoin profits - page 7. (Read 6286 times)
Don't get all out of Bitcoin at once, you probably will regret it very soon.
Bitcoin is a lifelong wealthy plan, you don't go all sell all you gold laying chickens at once and look for better opportunities because you won't find any
Bitcoin is a lifelong wealthy plan, you don't go all sell all you gold laying chickens at once and look for better opportunities because you won't find any
It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
Bitcoin is truly the advantage on it over bank interest and still mamy people who doesn't believe on it. We can't blame them because bitcoins is not well known as the others based on it when others became rich then the late comers regret to invest in bitcoins . 
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.
If your friend wouldn't have sold them all at that time, he would have 3 times more than what he got from it in 2016, but who knows the future anyway?
I would probably have invested any money if i had in bitcoin because i know it has got the potential to generate good enough profit for me in a year or so, but unfortunately, i don't have any funds to invest right now.
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.
I don't know which bank offers 10% interest rate. But anyway, if your friend sold only half of his btc and waited for another year or maybe until this month of August, he'll be 3x richer. And most probably you'll not just get an expensive lunch from him, maybe dinner too!
If I have a lot of money that $10,000 is not a loss, why not? I'll be buying me 5btc right away then forget about it in 5 years. But sadly I don't have that amount of cash in me right now.
It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
Well that's probably why Bitcoin is 'decentralized', although you cannot know when will be the good time to invest, it will still make a lot of profit than those in banks that makes a lot more than the time we need to gain profits than that of Bitcoin's.
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. Very encouraging story. If $10,000 is my only money, i wouldn't take the risk in puting it all in Bitcoin and then starve to death when the value of Bitcoins does not go as i expected it to be. As it is always said and a fact that Bitcoin's value is unpredictable. It can soar on so high as everybody expects and anticipate it including me 😊, but it can also drop so low. So maybe haf or part of my $10,000 will i invest in buying 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.
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.
Banks give only very small percentage as interest which is very small compared to bitcoin returns.Investment made in bitcoin is safe and at the same time,it gives huge returns which no other asset could give.Bitcoin price has increased almost four times of its price in just eight months and ban returns are nothing worth when compared to bitcoin returns. 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.
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.
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.
It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
Well that's probably why Bitcoin is 'decentralized', although you cannot know when will be the good time to invest, it will still make a lot of profit than those in banks that makes a lot more than the time we need to gain profits than that of Bitcoin's. 
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.
Definitely,no person who knows the price history of bitcoin would think to lose such an earning opportunity.I have been following bitcoin for the past two years and so i know very well the potential of bitcoins and so i would definitely invest in bitcoins. 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 seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
That's the truth that all bitcoin users see, however, look at the security of each side, when we talk about bitcoin, it's still a virtual currency and it always has the risk. Ro in business; conversely, when talking about banks, we see a reputation and security that is guaranteed by governments.
Money is definitely safe in banks as banks assure you the safety of your funds and if anything goes wrong that banks will help you in recovering your money but the fact is the interest paid by banks is in peanuts and you can definitely earn higher amount of profits if you have put your money in bitcoins.
It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
That's the truth that all bitcoin users see, however, look at the security of each side, when we talk about bitcoin, it's still a virtual currency and it always has the risk. Ro in business; conversely, when talking about banks, we see a reputation and security that is guaranteed by governments.
I don't know how much is 0.1% but in my country which is going bankrupt day by day , if you deposit 10.000 Euros they give you 0.5 Euro annual interest. Now can any other bank beat this (see the irony ) ? Ah old good days of Italian Lira, we were all having a good life at those times here in Italy, Euro destroyed everything and I mean everything for real.
You assume that in this way destroy all Bitcoin? It seems to me that Bitcoin in general may exist in parallel with all currencies of the world. I do not think that the banking system will go on destroying its own assets in real money.You didn't understand at all. It was an irony from my side to show how pathetic the banks have become this day. Bitcoin is great and the banks cannot do anything to stop it from its brilliant future which bitcoin has ahead. Paying 0.5 Euro for 10.000 Euro deposit during a year is truly pathetic and if you had bought 10.000 Euros of bitcoin in 2016 now you would have made a lot more than 0.5 Euro from your investment. That shows that bitcoin is much better compared to bank interest.
Bank interest is very pathetic. Losses from inflation are always greater than those percentages that will give us a bow from the deposit. As soon as I learned about bitcoin, I withdrew all my money from the bank accounts and bought bitcoins. Many of my friends then said that I am insane. But now they call me "wise investor"
I don't know how much is 0.1% but in my country which is going bankrupt day by day , if you deposit 10.000 Euros they give you 0.5 Euro annual interest. Now can any other bank beat this (see the irony ) ? Ah old good days of Italian Lira, we were all having a good life at those times here in Italy, Euro destroyed everything and I mean everything for real.
You assume that in this way destroy all Bitcoin? It seems to me that Bitcoin in general may exist in parallel with all currencies of the world. I do not think that the banking system will go on destroying its own assets in real money.You didn't understand at all. It was an irony from my side to show how pathetic the banks have become this day. Bitcoin is great and the banks cannot do anything to stop it from its brilliant future which bitcoin has ahead. Paying 0.5 Euro for 10.000 Euro deposit during a year is truly pathetic and if you had bought 10.000 Euros of bitcoin in 2016 now you would have made a lot more than 0.5 Euro from your investment. That shows that bitcoin is much better compared to bank interest.
Why not i would anyday prefer to invest in bitcoin than in bank and one of the many reason is return is anyday more than 10% from what currently bank provides and second i can sell bitcoin whenever i want but for a fd it takes time to cancel and also takes my profit
It seems too much to compare bank interest with bitcoin profit, in my country bank interest about 12% a year, bitcoin price last year about $ 600 and proven bitcoin profitable up to about 400%. Are you still doubt?
I don't know how much is 0.1% but in my country which is going bankrupt day by day , if you deposit 10.000 Euros they give you 0.5 Euro annual interest. Now can any other bank beat this (see the irony ) ? Ah old good days of Italian Lira, we were all having a good life at those times here in Italy, Euro destroyed everything and I mean everything for real.
You assume that in this way destroy all Bitcoin? It seems to me that Bitcoin in general may exist in parallel with all currencies of the world. I do not think that the banking system will go on destroying its own assets in real money. Jump to: