This is a very open discussion, but a topic that needs some attention.
As an investor I always have to compare my actual profit on a year to year basis, to consider if I should continue investing in that commodity or currency or stock etc.
Let's look at Gold for instance :
https://goldprice.org/gold-price-history.html < In 16 years my profit would have been +/- 343.78% >
Let's look at Silver for instance :
https://silverprice.org/ < In 16 years my profit would have been +/- 256.15% >
If I deposited the money into a fixed savings account at say %10 p/a
combined interest = 160% over 16years. Feel free to make the compound interest comparisons.
https://www.gobankingrates.com/banking/see-interest-rates-last-100-years/
These are very crude statistics and cherry picking comes into play, but it does give you an idea what the Bitcoin price needs to be to beat some of these investment strategies.
I think my more than 800% profit with Bitcoin last year, overshadowed the profits from other investments I could have made for the last 16 years.
We need 1 or 2 good years like 2017, to render all other investments null and void for several years. ^smile^
What other investments comes close to the profits that we saw in 2017? { 1 year }
I think it's hard to compare investment in gold or silver with investing in cryptocurrency,these are two completely different worlds.Gold and silver represents the value for people for thousands of years,while on the other side
BTC is something less than ten years old with lots of unknowns and the uncertain future.
When you say that you profit 800% in last year with
BTC this is only true if you convert coins in fiat,or if luck stay on your side and price of 1
BTC is always above levels that bring you profit,otherwise profit can turn into a loss at any time.
I do not really want to comment banking account savings,10% per year is fairly large interest and it's hard to imagine to me that some banks offer something like this.Banks are my last option for money investment anyway.
For me if I'm earning 0.2 btc a month. I think for me it beats my other investment. Can't wait to enter trading to profit more.
Good for you,but how are you earning 0.2
BTC (1600$) per month and you do not even trading?