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Topic: My Bitcoin beat Bank interest rates and inflation. :-> (Read 473 times)

Kakmakr

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Quote from: BrewMaster on October 29, 2019, 09:10:02 AM

Quote from: Kakmakr on October 29, 2019, 01:12:52 AM

Quote from: ivakar on October 29, 2019, 01:01:48 AM

this is very tricky info, cause you know very well, that your bank could be the winner, if we the coins you sold, were purchased in 2017..
and basically all 2019 almost all coins were in red zone..
so you are really lucky person and I'm glad for you that you made solid profit from your sale..
as for me, I do not have any deposits, but some good trades also brought me some cash..

You are 100% wrong! A lot of my friends bought in January 2019 at $3000+ and they sold at a good profit in June 2019 and also recently when the price went to $8000+

The common mistake people make, is for people to buy at a all-time-high and then not to keep on buying when the price drop. Yes, you lose money when you sell those coins that you bought at the all-time-high, if the price do not recover or exceed the buy in price, but you win, when you buy again when the price is very low and you sell at a profit.

We always say, "Buy the Dip" but a lot of people are greedy and they dive in when the price is at a all-time-high. Angry

from those people that i have seen, their problem has nothing to do with greed but it is all about their lack of experience so they don't know what to do and end up with tremendous amount of fear specially when they listen to FUD.

for instance take your example here. these people wanted to buy bitcoin and saw the price drop and it being a great opportunity (being at $3k while it was $20k not so long ago) but they didn't buy because they feared it might never go back up. why? because some random person on the internet spread this FUD! so they didn't buy.

Yes, and you should also not forget that the person already feel like he/she burnt their fingers with their Bitcoin investment, so they will be hesitant to drop more money into something and potentially lose more money, if it goes to zero.

So it is easy to stand on the outside and to criticize them, because most of us would have reacted in the same way. It takes a lot of courage to get back onto a horse, once you have fallen off. The people who had the courage to do this at $3000 was very well rewarded for taking that risk. Wink

BrewMaster

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Quote from: Kakmakr on October 29, 2019, 01:12:52 AM

Quote from: ivakar on October 29, 2019, 01:01:48 AM

Fappanu

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Quote from: Kakmakr on October 28, 2019, 01:02:54 AM

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option. Wink

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2% Wink

Many banks here in my country offer 1% to 2% interest depending on the plan you choose, which is really low compared to high return in Bitcoin and it is not depends on monthly because you can earn here within an hour of 10% 20% or even 100%,

Quote

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation. Wink

Of course Bitcoin is a winner if this is the case, but when it comes to security bitcoin should be our concern since we are the ones who are taking care of it and we have no refund available in case it goes away.

albrots

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Doing a deposit at a bank will indeed get interest that will benefit us, but that is only a little, yes, about 5% per year as you said. But this is very safe and the bank already has legality. If you compare it with Bitcoin, the difference is very noticeable. Bitcoin can make you get a profit of 20% even up to 100% (I once got it). But with a higher risk because prices are very volatile. You can immediately get rich by investing in bitcoin and you can also be poor because of bitcoin. At present the best and safer crypto investment is in bitcoin.

Kakmakr

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Quote from: ivakar on October 29, 2019, 01:01:48 AM

ivakar

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Kakmakr

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----<<< Read this, before you simply repeat the same things that has been said in previous posts >>>----

Looking at most of the responses, I can see that there are still a lot of people who absolutely trust their Banks. Roll Eyes

We have seen several instances all over the world, where Banks dipped into people's savings and where Banks went bankrupt and only a small percentage of people's deposits were paid back to them.

The insurance does not pay these Banks for all their losses when they fail, so let's just get real for one moment. When there are a Bank rush, the Banks simply close their doors and block withdrawals from their ATM's.

So, for those who wants to feel "safe" with Banks, good luck to you.

The fact of the matter is, Bitcoin presents us with multiple opportunities to make some very good profits and it depends on you, on how much risk you want to take to grab that opportunity.

Also, use a small percentage of all the coins you buy, because we have to support the merchant network that supports Bitcoin.

----<<< Read this, before you simply repeat the same things that has been said in previous posts >>>----

magneto

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 06:27:51 PM

#54

I personally don't see short term profits as a viable way of measuring the store of value aspects of a certain asset or currency.

You'd still have to analyse things from the long term, and from the fundamentals. It doesn't matter whether or not fluctuations in the short term affect bitcoin price positively or negatively.

At the end of the day, the reason why BTC has intrinsic value and will hold its value better than fiat is because of the fact that it has a capped supply and a controlled emission curve, something that fiats do not have by definition.

pixie85

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 06:22:18 PM

#53

Quote from: slashz9 on October 28, 2019, 11:09:51 AM
they have their respective advantages, we know 3 day in the good situation, so you can make big profit from buy/sell coin.
but in red day you cant make this, and you will choice put your money on bank, because still give profit while market red or not although it a little.

My bank has no advantages so I'll choose bitcoin any day. Ok it has 1 advantage that fiat money gets accepted everywhere.
I'm not even using a savings account because to keep money there you have to move it from your main account that you access with cards and this is what I do, I pay in stores.

My bank offers 2-2,5% a year. This is a joke. I can get more profit on a one greed bitcoin day. I can get more money from airdrops.

1Referee

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 06:15:38 PM

#52

I legit wish my bank offered me 5% interest annually. The last time it paid me anywhere near 5% was 8 years ago, where I got around ~4% which I was quite happy with. It was more than enough to counter inflation and wealth tax for me, which means that I ended up with ~1% of actual growth a year. Good old times.

Today the interest rate offered to me is a whopping 0.14% annually, and it will probably keep falling as time goes by. I'm just keeping money on my bank account because there just isn't another viable option to go with. I already hold a significant portion of my wealth in Bitcoin, and I hold some Gold, so there isn't much left that I can do here.

The good thing is that my holdings in Bitcoin easily undo the loss in purchasing power of my wealth in fiat, so there is no rush to it for me to change anything.

n0ne

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 06:12:50 PM

#51

We've got 3000+ cryptocurrencies, and among them very few are good enough to give a big profit by this time. This way Op is lucky to have those specific altcoins in his portfolio. Whether it is long term or short term, investing on bitcoin is much more profiting than banks.

With cryptocurrencies the risk is high, you might get 100X return on the investment, and sometimes you get nothing. Your investment goes on negative side. Banks provide with a nominal interest which won't cause loss but assure with a small profit.

Wintersoldier

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 06:03:08 PM

#50

Quote from: slashz9 on October 28, 2019, 11:09:51 AM
they have their respective advantages, we know 3 day in the good situation, so you can make big profit from buy/sell coin.
but in red day you cant make this, and you will choice put your money on bank, because still give profit while market red or not although it a little.

Basically if he sticks to bitcoin only during its red day he will not get any profits but losses, once he know how the market works, he can utilize other crypto or altcoin. Eventually he will figure out that he's trading. In this case, he can minimize our losses and turn it into profit based on how much deposit he have. So far, it is a green bull season for bitcoin and it is best to pair with a stable coin.

dimastegar

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 05:54:04 PM

#49

In practice, crypto trading is clearly more profitable than saving at a bank to get interest. The difference is only at the risk. Trading is profitable faster because price movements and coin inflation are faster than fiat.

gabbie2010

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 03:05:37 PM

#48

Quote from: jets567 on October 28, 2019, 01:02:13 PM
Quote from: crossabdd on October 28, 2019, 11:25:48 AM
well, because banks only use fiat currencies whose value is very stable. so that the interest profit that you can get is from those who borrowed funds from the bank. different from bitcoin and other crypto currencies. this has very high trade fluctuations. in crypto, you can get a profit of more than 20% and can even reach 200-1000% if the fluctuation of the coin you buy is increasing greatly. but stay alert. investing in crypto isn't just about profits. but you must also understand the risks. there is no guarantee in crypto about your assets. when it's gone, you can't blame others.

That is the difference with Bitcoin and banks investment, it is given that Bitcoin offer a high returns but risky while bank offer low interest but guaranteed. I must say that all of us here are risk-taker because we choose Bitcoin investment over banks. This is also the reason why most of the bank are against Bitcoin because their customer is shifting into Bitcoin investment.
Every investment in life involves risk and for an investor to be successful in life he or she must be able to take a higher risk, as for me I don't think its proper and profitable as a crypto enthusiast to safe my money in bank having tasted the watering offer crypto especially by hodling bitcoin on long term basis my last interest was nothing to write home about thus prompted me to withdraw the remaining balance and divert it into cryptos without any regret the banks also know that bitcoin is a major threat to their existence.

mazdafunsun

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 02:54:45 PM

#47

It is not hard to beat bank interest rates .
But most people think that banks are more safe and are afraid from other types of investments, i think it is because they just dont understand them.
It is easy for you to tell now us that you made this amazing return but this is one of the rare situations when market moved up and fast, in other times it moves down. And then you would not be talking about your huge gains.

DiamondCardz

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 02:16:07 PM

#46

That's kind of the bare minimum you'd expect though isn't it? If you invested money into a random stock, you could also realize a gain of 20% after a year or so, or even a few months, very easily. It's the same with putting money into Bitcoin or an altcoin.

You know what I call both of those? Gambling, unless you are planning to hold for a period on the order of a few years at minimum.

The comparison to bank interest rates is like comparing apples to oranges.

BitHodler

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 02:14:16 PM

#45

Quote from: jets567 on October 28, 2019, 01:02:13 PM
I must say that all of us here are risk-taker because we choose Bitcoin investment over banks.
No. Just because people here are extremely bullish on Bitcoin, it doesn't mean that they choose Bitcoin over banks.... most people here only have a small percentage of their wealth sitting in Bitcoin.

The rest of their wealth sits in fiat and then in some cases gold and stocks too. In other words, Bitcoin only accounts for a small percentage of people's portfolio because it simply is too risky to go all in on Bitcoin.

Quote from: jets567 on October 28, 2019, 01:02:13 PM
This is also the reason why most of the bank are against Bitcoin because their customer is shifting into Bitcoin investment.
People buying Bitcoin wire money to a bank account of an exchange, so the money never really leaves the banking system unless people withdraw it from an ATM and trade back and forth locally.

Lmaooo

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 01:02:47 PM

#44

Quote from: angrybirdy on October 28, 2019, 09:33:42 AM
Quote from: Sahyadri on October 28, 2019, 08:24:21 AM
Quote from: Kakmakr on October 28, 2019, 01:02:54 AM
In the last couple of days, I made more profit from selling a few coins, than what I would have been making in 3 years with the interest on my savings in the Bank. I get about 5% yearly interest on any deposits that I have in my saving account at my Bank and I just sold some coins for a 20% profit.

So, I do not know what kind of interest you are getting and how long you have to wait for that, but my Bitcoin investment has just crushed the Bank saving option.

I also love the fact that my investment in Bitcoin is growing much faster than my local inflation rate of +/- 2%

Let's discus your local investment options compared to the returns that you are getting from Bitcoin and let's see who is the winner in this fight to beat inflation.
Forget about bank rates or inflation rate which are usually in single digits, Bitcoin was able to surpass the ROI of gold, oil, bonds as well as S&P 500. If you see this year's ROI. Bitcoin gave us about 2x returns if you see today's price. No other asset can hgive you that much return in such a period.
Keeping your money in a bank will only give you a 3% interest for a year depends on the bank interest. You can secure that it is safe and it won't be stolen by anyone.
Having your investment turn into bitcoin will give you a much better ROI, it is risky but it is much better than storing it without having much interest.
Thanks for sharing your experience. Bitcoin profit is no match for Bank interest. With bitcoin, you can easily get a 100%-300% return on investment easily while you can't with banks. Bitcoin is very volatile, it is risky but is it very profitable as well compared to bank interest which is almost nothing these days.

jets567

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 01:02:13 PM

#43

Quote from: crossabdd on October 28, 2019, 11:25:48 AM
well, because banks only use fiat currencies whose value is very stable. so that the interest profit that you can get is from those who borrowed funds from the bank. different from bitcoin and other crypto currencies. this has very high trade fluctuations. in crypto, you can get a profit of more than 20% and can even reach 200-1000% if the fluctuation of the coin you buy is increasing greatly. but stay alert. investing in crypto isn't just about profits. but you must also understand the risks. there is no guarantee in crypto about your assets. when it's gone, you can't blame others.

That is the difference with Bitcoin and banks investment, it is given that Bitcoin offer a high returns but risky while bank offer low interest but guaranteed. I must say that all of us here are risk-taker because we choose Bitcoin investment over banks. This is also the reason why most of the bank are against Bitcoin because their customer is shifting into Bitcoin investment.

crossabdd

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Re: My Bitcoin beat Bank interest rates and inflation. :->

October 28, 2019, 11:25:48 AM

#42

well, because banks only use fiat currencies whose value is very stable. so that the interest profit that you can get is from those who borrowed funds from the bank. different from bitcoin and other crypto currencies. this has very high trade fluctuations. in crypto, you can get a profit of more than 20% and can even reach 200-1000% if the fluctuation of the coin you buy is increasing greatly. but stay alert. investing in crypto isn't just about profits. but you must also understand the risks. there is no guarantee in crypto about your assets. when it's gone, you can't blame others.