Would you trust your Bitcoins to a Bitcoin Bank with annual 10% interest rate? - page 2.

knowhow

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Quote from: fravia on December 23, 2015, 02:34:29 PM

i wouldnt trust my bitcoins to a bank for such interest for sure because in my opinion it should be impossible to make that much money anually just from investments they would do or something like that i would better keep my bitcoins safe in my cold storage

At crypto world is possible to make that income,in one day or even a week ,lets say they spend 7 months tradings to get those income,the rest would be their profit,but we all know that exchange may turn into loss,the same way as forex,one of those two options would be the market they would be at to cover such income.If i could make a 10% year alone with my balance why i would take others capital,to maximize my income,sure it would be great to invest 500 btc and get 50 instead some 0.05 or above,but well if any bank opens with this offer be sure that is a reputable bank and well good luck.

fravia

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i wouldnt trust my bitcoins to a bank for such interest for sure because in my opinion it should be impossible to make that much money anually just from investments they would do or something like that i would better keep my bitcoins safe in my cold storage

knowhow

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I know some people would trust their bitcoins into some banks,with the concept of growing the ammount,but we all know that there is a limited numbers of coins running ,soo this in something like 10 years would be insane,imagine have 1000btc and all years have more 100bitcoins,where would the bank get those bitcoins from exchanges?I believe if a bank happen this way they will go into exchanges invest the bitcoin and wait to try to reach the 10% along the year but well this wont will become true because the most of us wont invest a penny ,without a garantee.

Zaun

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Forza Roma

No way. Banks are exactly what is wrong with the current system.
Not only of their high fees, but more because they make be dependable on them.

BitcoinBud44

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I wouldn't trust my Bitcoin anywhere but on my own Trezor.

Nameless Coin

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No why would I do that if I have my own wallet that I like.
The only think what I can trust with my bitcoins is where people have a good experience and my own wallet.

knowhow

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Quote from: Amph on December 18, 2015, 06:53:13 AM

Quote from: knowhow on December 17, 2015, 03:08:04 PM

There are already some exchanges doing the interest and allowing people to get loans to invest ,called margin trade ,and there are lending program running at some exchanges already as poloniex,bitcoin wont have a fiat bank connected to bitcoin world atleast not now.

yeah but this is different, the thing that exchange those is to encourage the usage of their exchange and you put your money at risk, with this idea of banking give you interest, you don't really invest

you just lock your money like in any normal bank for a year, and they give you 10%, your funds should be fully covered by the government, otherwise it may look like a ponzi...

I doubt bit holders of bitcoin would be interested into those,their name will be connected to the fortune,the most bitcoin holders love the fact they are anonymous and rich soo why to change,besides those bitcoin purpose is take control of our money from them soo why to let the money for 1 year or more at some bank backed by government ? To they control you ,they say you cant retire or you will loose those income and a fee willl be taken off?We can get those income investing time,and being doing some lends ,exchanges montly soo why to let others control once again our bitcoin, no way.

dothebeats

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Why would I entrust my money to some kind of third-party 'investors' who promise to use my money for them to invest and return it +10% interest when I could probably do greater profit myself? Completely nuts, sounds like a ponzi and not feasible in the long run unless they're generating such profit without risks (which is not going to happen.)

Chris_Sabian

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Quote from: kyrios_ on December 19, 2015, 12:39:46 PM

Quote from: Chris_Sabian on December 19, 2015, 10:59:52 AM

This idea sounds similar to the Bitcoin Savings & Trust ponzi that fell apart in ~2012. They were offering huge payouts with a similar interest rate. How would this bank even make the 'interest' that they were paying out?

through mining or interest on loans such as for margin trading. would that help?

No really.

Both mining and margin trading are high risk activities. I would not want to risk my bitcoins for only a 10% yearly return in those kind of actives.

Coin0fMisery

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Probably not, because it might raise 20% in that time. Even if they caluclate that in, still no, because i like it in my own wallet.

Jeremycoin

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𝓗𝓞𝓓𝓛

No, because it would ruin of the purpose of Bitcoin.
A decentralized money

kyrios_

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Quote from: sbtctalk on December 19, 2015, 12:53:47 PM

But who owns the bank? Under which country's jurisdiction?

if it's a private company?

sbtctalk

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But who owns the bank? Under which country's jurisdiction?

unamis76

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I trust some fiat to banks. That's too much already. No, a Bitcoin bank will not have success.

kyrios_

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Quote from: Chris_Sabian on December 19, 2015, 10:59:52 AM

This idea sounds similar to the Bitcoin Savings & Trust ponzi that fell apart in ~2012. They were offering huge payouts with a similar interest rate. How would this bank even make the 'interest' that they were paying out?

through mining or interest on loans such as for margin trading. would that help?

pereira4

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Quote from: Xubu on December 07, 2015, 04:47:59 PM

Quote from: onemorexmr on December 07, 2015, 04:35:24 PM

no

Why not? If you store 100BTC, next year you've got 110 BTC. I know BTC is decentralized but holding your coins on your local wallet or exchange doesn't grow your amount.

Because it's suicidal... what guarantees that the bank will be there next year to give your money back?
Even if it was perfectly regulated, consider the fact that governments are free to take money out of the banks to deal with their bullshit.
I think to consider this at this point is to not have learned the lesson yet.

Chris_Sabian

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This idea sounds similar to the Bitcoin Savings & Trust ponzi that fell apart in ~2012. They were offering huge payouts with a similar interest rate. How would this bank even make the 'interest' that they were paying out?

JeWay

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Yes, but just for a small amount of Bitcoin not for all of my Bitcoin
Wink

kyrios_

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Quote from: data1 on December 18, 2015, 08:39:41 AM

absolutly not bank dont deserve to keep a wonterfull currenfy in their vault and even the do it i will not gonna support them .so no i wont trust banks having bitcoins

what if it's a wallet that pays interest? like magnr or haobtc

data1

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absolutly not bank dont deserve to keep a wonterfull currenfy in their vault and even the do it i will not gonna support them .so no i wont trust banks having bitcoins

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