Bitcoin Interest Rate - page 2. | Bitcointalksearch.org

alani123

legendary

Activity: 2394

Merit: 1412

Leading Crypto Sports Betting & Casino Platform

Quote from: Rhesus on June 10, 2014, 05:40:47 AM

The question is, can Playt.in be trusted with larger deposits or will they just disappear one day with our coins?

I can't answer this question myself but what I can say is that I've trusted them myself in the past. And certainly I'm not the only one. About 800 shares have been sold and one is worth 1.42BTC at the moment. They've been running their website for quite a while now and they're also active in the forums. The only time I had a problem (it was in their exchange) I sent a message through the forum and it was fixed the next day. I'd defenetly trust them again but it's up to you to decide if you would do the same.

DolanDuck

full member

Activity: 196

Merit: 101

Quote from: bitcoin_bagholder on June 10, 2014, 08:41:02 AM

Don't leave your bitcoins in a "bitcoin bank". Your coins aren't insured unlike your fiat in your fiat bank.

The safest method to store bitcoins is cold storage, if you put your btc savings in other hands you can lose them all.

bitcoin_bagholder

sr. member

Activity: 336

Merit: 250

Don't leave your bitcoins in a "bitcoin bank". Your coins aren't insured unlike your fiat in your fiat bank.

Rhesus

newbie

Activity: 22

Merit: 0

The question is, can Playt.in be trusted with larger deposits or will they just disappear one day with our coins?

Coef

hero member

Activity: 882

Merit: 1000

Exhausted

Quote from: Harley997 on June 09, 2014, 09:00:35 PM

Quote from: Minecache on November 27, 2013, 11:25:09 PM

If I deposit some Bitcoins with a trader like Kraken shouldn't I be earning interest on my bits?

No you will not. Exchanges are not lending you any funds, you are simply depositing funds to the exchange so you can buy/sell coins.

Indeed, Vircurex does pay interests for your deposits, but I won't recommend anyone to do so for obvious reason.

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: Minecache on November 27, 2013, 11:25:09 PM

If I deposit some Bitcoins with a trader like Kraken shouldn't I be earning interest on my bits?

No you will not. Exchanges are not lending you any funds, you are simply depositing funds to the exchange so you can buy/sell coins.

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: alani123 on May 18, 2014, 09:21:50 PM

Quote from: ranlo on May 18, 2014, 09:17:38 PM

I was. I didn't see any other way to invest in the site or anything. Were you referring to something different?

Yes. Recently they added this interest on deposits I talked about. 4% annualy with 6 hour payments.

Text below from their website:

Quote

How does it work?
About every 4 hours you get interest on your confirmed balance.
Where is the money coming from?
The interest is paid from trading fees and from profit of operator owned bankroll shares.
Where to apply?
No need to do anything. Just have some balance on PLAYTIN and you will automatically start to receive interest.
Do I get interest on gambling profit?
Yes, it does not matter where your balance comes from - depositing, trading, or winning, all is fine.
When will I get the interest?
The interest payment is delayed about 2 hours to let any deposits reach the required number of confirmations.
Does it matter how long I have the balance on PLAYTIN?
The longer you have some funds on site the more often you will earn interest.
Are you using the deposited funds for anything?
No, your funds will not be used in any way. We have dedicated funds (bankroll shares) to operate the casino.
Why are you doing this?
We figured some advertising money is better spend directly to our customers.
And it is a very nice incentive for users to enable 2FA, since this is a prerequisite for receiving interest.
How much will I get?
This are the current rates:
Bitcoin   4.00%
Dogecoin   4.00%
Litecoin   4.00%
Maxcoin   4.00%
Namecoin   4.00%
Novacoin   4.00%
Peercoin   4.00%
Primecoin   4.00%
Why does PLAYTIN pay so much more than the competition?
Because we can. Our revenue is coming from the casino, not from those tiny trading fees.
Will the rate ever change?
We reserve the right to change the actual rate at any time without further notice.
I want to earn even more!
Buy yourself some bankroll shares. They have a much higher yield.

Interesting, I wasn't aware of that. So it's more or less a choice between a liquid deposit and getting 4% or buying shares and getting 80x that but not being able to liquidate it at its full value at any point.

alani123

legendary

Activity: 2394

Merit: 1412

Leading Crypto Sports Betting & Casino Platform

Quote from: ranlo on May 18, 2014, 09:17:38 PM

I was. I didn't see any other way to invest in the site or anything. Were you referring to something different?

Yes. Recently they added this interest on deposits I talked about. 4% annualy with 6 hour payments.

Text below from their website:

Quote

How does it work?
About every 4 hours you get interest on your confirmed balance.
Where is the money coming from?
The interest is paid from trading fees and from profit of operator owned bankroll shares.
Where to apply?
No need to do anything. Just have some balance on PLAYTIN and you will automatically start to receive interest.
Do I get interest on gambling profit?
Yes, it does not matter where your balance comes from - depositing, trading, or winning, all is fine.
When will I get the interest?
The interest payment is delayed about 2 hours to let any deposits reach the required number of confirmations.
Does it matter how long I have the balance on PLAYTIN?
The longer you have some funds on site the more often you will earn interest.
Are you using the deposited funds for anything?
No, your funds will not be used in any way. We have dedicated funds (bankroll shares) to operate the casino.
Why are you doing this?
We figured some advertising money is better spend directly to our customers.
And it is a very nice incentive for users to enable 2FA, since this is a prerequisite for receiving interest.
How much will I get?
This are the current rates:
Bitcoin   4.00%
Dogecoin   4.00%
Litecoin   4.00%
Maxcoin   4.00%
Namecoin   4.00%
Novacoin   4.00%
Peercoin   4.00%
Primecoin   4.00%
Why does PLAYTIN pay so much more than the competition?
Because we can. Our revenue is coming from the casino, not from those tiny trading fees.
Will the rate ever change?
We reserve the right to change the actual rate at any time without further notice.
I want to earn even more!
Buy yourself some bankroll shares. They have a much higher yield.

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: alani123 on May 18, 2014, 09:16:01 PM

Quote from: ranlo on May 18, 2014, 08:05:57 PM

Quote from: alani123 on May 18, 2014, 07:59:26 PM

Playt.in also provides interest payments.

I think it's a 4% annually with a payment every 6 hours.

More than that. Their average over the past month or so has been ~270% APR. That's around 25% a month.

I guess you're talking about the average of their bankrol shares wich have a much higher (but sorta unstable) yield.

I was. I didn't see any other way to invest in the site or anything. Were you referring to something different?

alani123

legendary

Activity: 2394

Merit: 1412

Leading Crypto Sports Betting & Casino Platform

Quote from: ranlo on May 18, 2014, 08:05:57 PM

Quote from: alani123 on May 18, 2014, 07:59:26 PM

Playt.in also provides interest payments.

I think it's a 4% annually with a payment every 6 hours.

More than that. Their average over the past month or so has been ~270% APR. That's around 25% a month.

I guess you're talking about the average of their bankrol shares wich have a much higher (but sorta unstable) yield.

bl4kjaguar

hero member

Activity: 546

Merit: 500

InstaForex is a broker who will accept bitcoin deposits and pay 5% APR to active accounts (2% for inactive accounts), but they do not allow US citizens/residents.

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: alani123 on May 18, 2014, 07:59:26 PM

Playt.in also provides interest payments.

I think it's a 4% annually with a payment every 6 hours.

More than that. Their average over the past month or so has been ~270% APR. That's around 25% a month.

alani123

legendary

Activity: 2394

Merit: 1412

Leading Crypto Sports Betting & Casino Platform

Playt.in also provides interest payments.

I think it's a 4% annually with a payment every 6 hours.

Malin Keshar

hero member

Activity: 616

Merit: 500

ever heard about inflation related to price. If a gov prints money, people say that they have inflation because the price is rising, not because there is more paper supply, but because the price is rising

vircurex offers interests on bitcoin balances (if you have 1 btc or more), payment made every 6 hours, but they have been hacked this year, so up to you take the risk or not

ranlo

legendary

Activity: 1974

Merit: 1007

Quote from: Minecache on November 28, 2013, 10:10:49 AM

So a currency can both inflate and deflate at the same time?

The number is inflating. The value is deflating. Two separate things you're looking at.

Overall we'd say that the coins, as a whole, are deflating.

bl4kjaguar

hero member

Activity: 546

Merit: 500

Quote from: r34tr783tr78 on May 18, 2014, 04:07:52 PM

But if you opened an account with paper money, YOUR money is going to be lent or paid to others.

You are incorrect; banks never lend out reserves, and they are not in the business of loaning money.

Did you follow the links which I graciously provided?

Here is Forbes magazine saying the same thing:

Quote

It creates this “from thin air”, not from existing money: banks do not “lend out” existing deposits, as is commonly thought.

http://www.forbes.com/sites/francescoppola/2014/01/21/banks-dont-lend-out-reserves/

Please verify this for yourself and then we can resume the discussion.

r34tr783tr78

sr. member

Activity: 481

Merit: 268

Under a formal perspective, your money is still at your account, so the bank isn't lending YOUR money, is creating money based on your money. True.
But if you opened an account with paper money, YOUR money is going to be lent or paid to others. It won't be sitting there waiting for you. And they don't need your consent to lent it, it's implied on all banking regulations.
And, in any case, they will use your money as the base to lend to others, by creating banking money.
It's the base of fractional reserve Lending.

bl4kjaguar

hero member

Activity: 546

Merit: 500

Quote from: r34tr783tr78 on May 18, 2014, 02:33:51 PM

Lending the money that is deposited on your account is the goal of any bank.

That is not true because bank loans are generated ex nihilo.

Professor Hyman Minsky once wrote “Banking is not money lending", which is to say: Banks do not have money to loan as a matter of fact.
Source: http://www.positivemoney.org/2013/06/banks-dont-lend-money-guest-post-by-michael-reiss/
Related source: http://www.forbes.com/sites/francescoppola/2014/01/21/banks-dont-lend-out-reserves/

The bank would first need your permission because a deposit is not property; it is a debt owed to the depositor.
I posted more info to this thread: https://bitcointalksearch.org/topic/m.6039543

r34tr783tr78

sr. member

Activity: 481

Merit: 268

Lending the money that is deposited on your account is the goal of any bank.
I think you wrote something you didn't want or, at least, your sentence isn't clear.

bl4kjaguar

hero member

Activity: 546

Merit: 500

Quote from: qsrab on November 27, 2013, 11:34:43 PM

Banks pay interest because they lend your deposit to people at a higher rate.

That is not true; banks are not allowed to loan your deposited funds.

Topic: Bitcoin Interest Rate - page 2. (Read 5821 times)