Topic: Bank Interest VS Bitcoin profits - page 8. (Read 6286 times)
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.
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.
You should not compare the bank's benefits with the bitcoin profits, because they differ widely. The bank defaults to a very low profit margin every year, while bitcoin continues to grow, and profits from it increase dramatically....
With saving in bank, although not earning more extra profit but the bank can helps you keep safe your funds and small risk, remeber that!
Surely your friend is a lucky person. He buys bitcoin at the right price and sells it at the right time. If you look at the total profit gained then use bitcoin much better. Bitcoin prices can increase significantly. While the interest of the bank will not produce a large amount. So I'll better choose the bitcoin as the best at the moment.
Banks make money by using your deposits from your account to lend or invest in other assets. The more you have in there, the more of it they leverage. This is outright criminal. Not to mention the risk of bank interest rates going negative in the future or a bank bail-in.
Even though Bitcoin is risky, I have no doubt that if I keep the majority of my wealth in bitcoin that the average interest (appreciation) of the asset averaged over a decade or more will spank any interest returns that any bank account could give.
Even though Bitcoin is risky, I have no doubt that if I keep the majority of my wealth in bitcoin that the average interest (appreciation) of the asset averaged over a decade or more will spank any interest returns that any bank account could give.
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.
You should not compare the bank's benefits with the bitcoin profits, because they differ widely. The bank defaults to a very low profit margin every year, while bitcoin continues to grow, and profits from it increase dramatically....
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.
As he bought Bitcoin when its price was really low. he can easily earn profits but for now, Bitcoin price is really high, we can not earn profits as easy as himself anymore.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.
As he bought Bitcoin when its price was really low. he can easily earn profits but for now, Bitcoin price is really high, we can not earn profits as easy as himself anymore. 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 only use bank to receive the proceeds from trading profit of bitcoin that i exchange through the exchanger, immediately withdraw all using atm. I never borrow or saving to bank. Bank interest is very small if i only keep less than $1K and monthly administration fee is bigger. Well, at trading i can get more profit.
Same here, it will the be easiest way to get my hands on what I've earned (Bitcoin).That's when people get judgmental and smooch around stuffs about people who has a big house, a car, a backyard pool, 'nice job' etc. but they do not know that it was all because of loaning in banks that makes these 'assets' that says "Hey I have this fanciful life because of my job and my bank!". But the truth is, it (loan) became their lifetime payment sentence.
I only use bank to receive the proceeds from trading profit of bitcoin that i exchange through the exchanger, immediately withdraw all using atm. I never borrow or saving to bank. Bank interest is very small if i only keep less than $1K and monthly administration fee is bigger. Well, at trading i can get more profit.
Bank interest is designed to make you poor. It doesn't make you poor instantly (sometimes it does if a bank goes bankrupt) but slowly. You should never ever count on bank interest. You can't make any money by counting on interest rates. It is for dumb people.
This can't be avoided. Government and banks joined force to brainwash people from their young age that their best friend in finance are banks.
Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.
I agree, keeping our money in banks are too dangerous, they have all the power to access it, freeze it or even steal it in a broad day light.
Bitcoin is way better than banks because we hold it ourself, it is a good store of value and very secured network.
I keep some of my money in big banks. They are better than some bitcoin exchanges.
By the way, exchanges are places to exchange your money and never where they should be stored.
Can you really get 10% per annum on a USD balance anywhere? Maybe on a local currency account -where you get a high rate in local because the market prices in depreciation of the local currency against the USD - ie the forward FX rate is lower than the current.
Arbitrage says USD 1000 at USD rates invested for one year = the same amount in USD terms as Local Ccy equivalent invested at local Ccy rates for 1yr X 1yr Forward FX
Arbitrage says USD 1000 at USD rates invested for one year = the same amount in USD terms as Local Ccy equivalent invested at local Ccy rates for 1yr X 1yr Forward FX
Bank interest is designed to make you poor. It doesn't make you poor instantly (sometimes it does if a bank goes bankrupt) but slowly. You should never ever count on bank interest. You can't make any money by counting on interest rates. It is for dumb people.
This can't be avoided. Government and banks joined force to brainwash people from their young age that their best friend in finance are banks.
Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.
I agree, keeping our money in banks are too dangerous, they have all the power to access it, freeze it or even steal it in a broad day light.
Bitcoin is way better than banks because we hold it ourself, it is a good store of value and very secured network.
I keep some of my money in big banks. They are better than some bitcoin exchanges.
Bank interest is designed to make you poor. It doesn't make you poor instantly (sometimes it does if a bank goes bankrupt) but slowly. You should never ever count on bank interest. You can't make any money by counting on interest rates. It is for dumb people.
This can't be avoided. Government and banks joined force to brainwash people from their young age that their best friend in finance are banks.
Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.
I agree, keeping our money in banks are too dangerous, they have all the power to access it, freeze it or even steal it in a broad day light.
Bitcoin is way better than banks because we hold it ourself, it is a good store of value and very secured network.
Bank interest is designed to make you poor. It doesn't make you poor instantly (sometimes it does if a bank goes bankrupt) but slowly. You should never ever count on bank interest. You can't make any money by counting on interest rates. It is for dumb people.
Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.
What you need to do is chasing opportunities like bitcoin. You shouldn't aim to collect only bitcoin. It can be stocks, it can be gold, it can be some cheap real estate... You need to look for value wherever it can be found, and you should never ever go all in with one investment.
If would have become at least x10 richer than what i am now if i purchased bitcoins with all of my money but the opposite could have happened either. Risk management reduces your possible winnings but it also reduces your potential losses. Staying alive is the most important thing in the long run.
Actually you shouldn't even keep all of your money in banks, far too dangerous. I am not saying that you should withdraw everything and bury them, but at least keep some of your wealth somewhere away from banks' reach.
What you need to do is chasing opportunities like bitcoin. You shouldn't aim to collect only bitcoin. It can be stocks, it can be gold, it can be some cheap real estate... You need to look for value wherever it can be found, and you should never ever go all in with one investment.
If would have become at least x10 richer than what i am now if i purchased bitcoins with all of my money but the opposite could have happened either. Risk management reduces your possible winnings but it also reduces your potential losses. Staying alive is the most important thing in the long run.
Almost all banks I see offer less than 1percent. What bank offers 10percent? So you are aware, most 401k plans give you a range of 5percent to 15 percent a year.
A bank giving 10percent is really good and safer than a 401k. To get higher in a 401k you need to have riskier stocks.
Anyways, btc is still a good thing to keep buying. Day trading can make you more too.
A bank giving 10percent is really good and safer than a 401k. To get higher in a 401k you need to have riskier stocks.
Anyways, btc is still a good thing to keep buying. Day trading can make you more too.
Lots of carry trade to be found in crypto currency
Why are we comparing Bitcoin and bank interest? It is clear that banks are robbing us of our true profit. We may win or lose in bitcoin but at least if we profit from bitcoin we get that 100% and not that 1% only from bank. This comparison is a no brainer. Definitely Bitcoin will have a bigger profit.
Yes, there is no meaning of comparing these two. Maybe got this idea from moving funds from bank for the purpose on investing into bitcoins. But as per current trend, not just bank interest rates any solid business also may not neat the percentage of returns bitcoin may provide to its investors. my bank advertises 0.1% for up to € 2500,00 and a whopping 0.2% for a € 5000,00 deposit.
and that is p.a.
and they are not even ashamed of advertising it is a good deal.
i seriously think bitcoin price can do this in one minute or less. compare that to an entire year....
0.1% p.a. is a joke. bad one.
and that is p.a.
and they are not even ashamed of advertising it is a good deal.
i seriously think bitcoin price can do this in one minute or less. compare that to an entire year....
0.1% p.a. is a joke. bad one.
Why are we comparing Bitcoin and bank interest? It is clear that banks are robbing us of our true profit. We may win or lose in bitcoin but at least if we profit from bitcoin we get that 100% and not that 1% only from bank. This comparison is a no brainer. Definitely Bitcoin will have a bigger profit.
my bank advertises 0.1% for up to € 2500,00 and a whopping 0.2% for a € 5000,00 deposit.
and that is p.a.
and they are not even ashamed of advertising it is a good deal.
i seriously think bitcoin price can do this in one minute or less. compare that to an entire year....
0.1% p.a. is a joke. bad one.
and that is p.a.
and they are not even ashamed of advertising it is a good deal.
i seriously think bitcoin price can do this in one minute or less. compare that to an entire year....
0.1% p.a. is a joke. bad one.
Bank interest rates are a complete joke these days, it's better to be all in on bitcoin rather than earn 1% a year in a bank savings account. They are embarrassing.
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