My Bitcoin beat Bank interest rates and inflation. :-> - page 3.

crwth

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I always have been inclined towards Bitcoin ever since I discovered it and thankful for how it helps me in my life. This topic brought me towards thinking about what would I do if I haven't had discovered it or not.

Saving in a bank
Invest in Stocks
Invest in a business

There are different limitations in which I could personally afford. Business is not an option for me right now, I don't have that much money yet and my credit is not yet ideal for a loan with a big amount. Invest in stocks would be just a hope to have that breakthrough in a certain stock, which is not assured. Saving in a bank, however, is the easiest but gives the least results. So I personally have a saving that is worth at least 3 - 6 months of living expenses. It's for the Emergency fund that could help me with unforeseen situations. This is just my idea with different investments you could have and I'm thankful to have Bitcoin as a part of my life and be the investment that changed my life.

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

This is totally true in so many ways, especially if you're patient and clear minded with all the possible volatility that comes with cryptocurrencies.

Wysi

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Quote from: figmentofmyass on October 28, 2019, 02:06:31 AM

Quote from: Kakmakr on October 28, 2019, 01:37:25 AM

Quote from: odolvlobo on October 28, 2019, 01:34:31 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. ...

Be honest with yourself. You got lucky. That's it.

You make your own luck my friend. If you decided not to buy any bitcoins, then you did not make your own luck.

tell that to everyone who bought at $19k two years ago. they're still down 50%! they might not feel so lucky. Tongue

the USD may be slowly eroding in value but it provides stability that bitcoin can't compete with. there's something to be said for that.

I really feel sad for those users who bought bitcoin arkund last quarter of 2017 as most of them bought for over $15k and bitcoin has not reached that value since then and they might regret the hasty investment or just consider it as long term investment. As you said we cannot compare fiat especially USD or Gold with bitcoinm

Coyster

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Banks simply hold your money for you, there is no such thing as volatility or possibility of any loss, their interest ad on is low, but I do not really expect it to be any higher. Thats one of the reasons bitcoin was created, to create an opportunity for people to purchase an asset, one that you can choose to use as a payment option whenever you so desire, or you could hodl it, with the possibility of it rising and increasing your profit.

There is risk involved when trading with bitcoin, more risk though when it's day trading, but preferably it's best to buy when the prices fall due to unending FUD and rumours, that's the time to buy bitcoin, "on the news" and sell when the prices go up, because with what I've seen, prices must always go up.

Darooghe

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Name your country when stating your bank interest rate on an international discussion platform like this. I don't understand why people mostly talk here as if all others are from the same country as themselves, and they think the situation of others is similar to themselves or better than themselves. it's mistake to making these discussions without saying which country you are talking about. In Europe, banks pay 0.2% of interest per annum if you are very lucky, inflation is about 2%.

However, probably Bitcoin will give you a better return than 5%, But like all investments it's a gamble. you could make that profit in a day with Crypto or lose 40 percent in a day, but by putting it in the bank, you are guaranteed for it NOT to lose 80% of your principal value in a year. I am at a loss of $10,000, but i still HODLing, not because profits and beat bank interest rates, rather i am preparing myself for the worst fiat failure ever on earth.

Herbert2020

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investment wise and when profit is involved there is nothing that could beat bitcoin in the past decade that bitcoin has been around. the value of it has gone up from practically zero to the current near $10000. so basically whoever bought bitcoin and ignore the short term FUD and fluctuations is currently in a big profit.

but the thing is that bitcoin is not just about the monetary gains and the profit you can earn from it. bitcoin is all about liberation from centralized money and the corruption that has infected the centralized sector. and you can't put a value on that.

Kakmakr

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Quote from: figmentofmyass on October 28, 2019, 02:06:31 AM

Quote from: Kakmakr on October 28, 2019, 01:37:25 AM

Quote from: odolvlobo on October 28, 2019, 01:34:31 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. ...

Be honest with yourself. You got lucky. That's it.

You make your own luck my friend. If you decided not to buy any bitcoins, then you did not make your own luck.

tell that to everyone who bought at $19k two years ago. they're still down 50%! they might not feel so lucky. Tongue

the USD may be slowly eroding in value but it provides stability that bitcoin can't compete with. there's something to be said for that.

Agreed.

I have friends in the same situation and you know what, they bought more coins at a price of $3000 at the beginning of this year and they slashed the losses when they made a profit, when they sold at $12 000+ in June. Wink

Why some people are missing the point of short-term profits are beyond me. Wink

You do not have to day-trade to get those profits, just buy some coins and hold it for a while... eventually you will get some profit. Wink

The USD might be stable, but it lost over 95% of it's value over time. Wink

< 97.5% according to the Bureau of Labor statistics >

figmentofmyass

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Quote from: Kakmakr on October 28, 2019, 01:37:25 AM

Quote from: odolvlobo on October 28, 2019, 01:34:31 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. ...

Be honest with yourself. You got lucky. That's it.

You make your own luck my friend. If you decided not to buy any bitcoins, then you did not make your own luck.

tell that to everyone who bought at $19k two years ago. they're still down 50%! they might not feel so lucky. Tongue

the USD may be slowly eroding in value but it provides stability that bitcoin can't compete with. there's something to be said for that.

Shasha80

sr. member

Activity: 1876

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Regarding investment issues, there's no doubt bitcoin is the best. Wanting to be compared with bank interest is clearly far, or wanting
to be compared with gold even bitcoin is still superior. Indeed bitcoin has a very big risk we can lose all our money if we invest in bitcoin,
but don't forget that high risk investment will definitely benefit greatly. So, if I have extra money from my salary I always save in bitcoin.
What I save in the bank is only money for daily needs.

blckhawk

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Bank interest rates won't give you much profit really. It's interest rates are too low for a year and putting your money stagnant in your account won't bring you anywhere. Investment is much better, whether be it in crypto, bitcoin, or other assets but bank is not a viable option. You need to risk in order to gain, it's just that bitcoin is much more risky than others, but returns are definitely higher.

Kakmakr

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Quote from: Kyraishi on October 28, 2019, 01:42:40 AM

You what's actually pretty interesting? In a lot of countries, interest rates are so low compared to inflation, it's actually stupid to keep your money in a bank, often inflation rates mean you lose or don't make money at all.

To be fair though, not a really worthwhile comparison, your comparing guaranteed returns from a centralized banking system to some random investment that could have easily gone to the shitter, and you would be hoping you had your money in your bank instead.

Does showcase the profit potential of bitcoin and cryptocurrencies in general though.

I have a very balanced portfolio based on low/medium and high risk investments. Wink

I never said it is stupid to leave some money in a low interest savings deposit, because some people cannot afford to take higher risks than that. Wink

I think it might be good for some of those people to consider how safe it is to loan your money to a Bank and then not to beat inflation with that investment. Roll Eyes

Take some of that money and risk it in something that might yield a lot more profit than that money in the Bank.

There are a lot of high risk investments out there, but you will find it hard to find something that has shown the same kind of profits, than what Bitcoin has given since 2009. Wink

Quote from: ChrisPop on October 28, 2019, 01:22:24 AM

Well, you can't expect banks to pay you more as you practically hold no risk when putting your money into savings account. That's the bank role - to keep your money safe and maybe give you a little bit of interest, but most of the times that interest cannot even cover the inflation so it appears the following matter: is it riskier to save your money or to invest it?

There are other traditional investment instruments available of course like government bonds that give out a little bit more APR then the classic bank savings account, but still it is nothing compared to the gains you get from Bitcoin. Also take into account that your risk is greater by some serious degrees when investing in a cryptocurrency. After all, it resumes to a risk/reward ratio.

Government Bonds does not guarantee profits.. <--- https://bitcointalksearch.org/topic/2019-10-18-winklevoss-buy-btc-to-escape-negative-yield-bonds-5193899

AniviaBtc

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Quote from: ChrisPop on October 28, 2019, 01:22:24 AM

Well, you can't expect banks to pay you more as you practically hold no risk when putting your money into savings account. That's the bank role - to keep your money safe and maybe give you a little bit of interest, but most of the times that interest cannot even cover the inflation so it appears the following matter: is it riskier to save your money or to invest it?

There are other traditional investment instruments available of course like government bonds that give out a little bit more APR then the classic bank savings account, but still it is nothing compared to the gains you get from Bitcoin. Also take into account that your risk is greater by some serious degrees when investing in a cryptocurrency. After all, it resumes to a risk/reward ratio.

I agree, you need to take a risk when investing in a banks. There is no certainty when it comes to that, you just need to become more patient. You just need to know more about the purpose and the role of the banks. But investing cryptocurrency is much more difficult and the risk is higher so you need to think more critically.

Kyraishi

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You what's actually pretty interesting? In a lot of countries, interest rates are so low compared to inflation, it's actually stupid to keep your money in a bank, often inflation rates mean you lose or don't make money at all.

To be fair though, not a really worthwhile comparison, your comparing guaranteed returns from a centralized banking system to some random investment that could have easily gone to the shitter, and you would be hoping you had your money in your bank instead.

Does showcase the profit potential of bitcoin and cryptocurrencies in general though.

CryptoBry

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

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

Comparing what Bitcoin as an investment can bring is just like comparing a green apple to Jamaican berry. You are even lucky that you are getting 5% pr annum interest from your bank because here in my county the usual interest most big banks are giving is just around 2% and there are even those offering less, but I think we can get much better rates if we deposit in a cooperative bank plus tax is exempted. By miles, Bitcoin is definitely a much better proposition however unlike the banks here the price of Bitcoin can pullback extremely but with much bigger possible rewards. Compared to the real gold and stocks, Bitcoin can still be coming out as the big winner especially in today's bullish environment. As they say, the bigger is the risks the rewards can be so great. Congratulations on your good profits.

Kakmakr

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Quote from: MURONDI on October 28, 2019, 01:31:15 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. Wink

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. Grin

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

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

don't compare banks with exchanges, because the function is clearly different, The bank functions as a place to store money like a wallet, and has almost no risk, while bitcoin aims to make a profit with a higher risk.

You are missing the point. Wink

I am not comparing Exchanges with Banks. Grin

A lot of us store our coins in hard wallets or paper wallets and not on exchanges and we do not even use Exchanges to buy and sell coins. Wink

It has been months since we have seen a significant increase in the price and I think we should celebrate our returns on the coins we set aside as an high risk investment. Wink

People have been nagging and complaining about the Bitcoin price for many months and now that it increased with more than 20%, people are not celebrating it. Wink

Quote from: odolvlobo on October 28, 2019, 01:34:31 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. ...

Be honest with yourself. You got lucky. That's it.

You make your own luck my friend. If you decided not to buy any bitcoins, then you did not make your own luck. I am constantly buying more coins and hoarding it. I did the same prior to the 2017 all time high of $18 000 and I made a 800%+ return on those coins. Wink

bitbrawlers

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Quote from: odolvlobo on October 28, 2019, 01:34:31 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. ...

Be honest with yourself. You got lucky. That's it.

Sure he got lucky, but bitcoin still has been the best performing asset in the past 10 years.

odolvlobo

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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. ...

Be honest with yourself. You got lucky. That's it.

MURONDI

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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. Wink

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. Grin

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

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

don't compare banks with exchanges, because the function is clearly different, The bank functions as a place to store money like a wallet, and has almost no risk, while bitcoin aims to make a profit with a higher risk.

Kakmakr

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Quote from: slaman29 on October 28, 2019, 01:08:28 AM

Well done to you, Kakmakr, I think Bitcoin has outperformed almost every currency and every bank in terms of interest and inflation. In fact I would say it's beaten every bank and currency but I don't have the numbers to back it up so let me be cautious;)

I would say that my savings is still performing well though.

I did not exactly calculate but I had my first BTC (as payments) around mid 2017, and then about every few weeks to 1 month until today, so I probably end up around where price is today in terms of average?

But since 2017, my savings in government trust fund (pension) is 6/7% per year, with inflation also 1-2% per year... plus it is guaranteed by government.

I still think that's a good risk balance.

I am not saying that people have to pull investments from low risk investments to invest in Bitcoin, because I too have a very balanced risk portfolio on all of my investments. I am just happy with the returns that I am getting on my high risk Bitcoin investment and I am sharing it with you guys. Wink

I still use about 20% of all the bitcoins I buy and I spend it at merchants that accept bitcoins as payment, because we should not just use Bitcoin as an investment, but rather support the merchants that supports our alternative currency. Wink

Let's celebrate our small victories!

ChrisPop

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Not your Keys, Not your Bitcoins

Well, you can't expect banks to pay you more as you practically hold no risk when putting your money into savings account. That's the bank role - to keep your money safe and maybe give you a little bit of interest, but most of the times that interest cannot even cover the inflation so it appears the following matter: is it riskier to save your money or to invest it?

There are other traditional investment instruments available of course like government bonds that give out a little bit more APR then the classic bank savings account, but still it is nothing compared to the gains you get from Bitcoin. Also take into account that your risk is greater by some serious degrees when investing in a cryptocurrency. After all, it resumes to a risk/reward ratio.

Mandoy

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Aurox

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. Wink

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. Grin

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

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

In my country banks offer time deposits as low as 1 to 2 percent interest annually. Last quarter of 2016 I have a 300 dollars worth of bitcoin and on October 2017 my 300 dollars become more than 3000 dollars. Within ten months my money has multiplied 100x. So compared to banks earning in bitcoin is great. Even in trading just last week and yesterday I have earned 40 dollars from my 160 dollars, it means that I profited 25% out of my initial capital which banks cannot give.

Topic: My Bitcoin beat Bank interest rates and inflation. :-> - page 3. (Read 473 times)